ENTREPRENEURSHIP DEVELOPMENT ENTREPRENEURSHIP DEVELOPMENT Entrepreneur derive from French

ENTREPRENEURSHIP DEVELOPMENT

ENTREPRENEURSHIP DEVELOPMENT � � Entrepreneur derive from French word-entreprendre means “ to undertake”. In business context, to start business. He or She is an individual who actively form or lead their own business and nature them for growth and prosperity A person who is able to identify business opportunities and implement actions to maximize on the opportunities. Enterprise creation, organize, manages and assumes the risks of business or enterprise, operate a business enterprise that is capable of self sustenance.

� Entrepreneurship is not ‘natural’; it is not ‘creative’. It is work…Entrepreneurial businesses treat entrepreneurship as a duty. They are disciplined about it…they work at it…they practice it.

Evolution of concept of Entrepreneur Earliest period : Marco polo who established trade route to far east. Contract with money to sell his goods. Middle Ages: Entrepreneur used to describe both as an actor and a person who managed large production projects. 21 th century: During the present century two characteristics are associated with entrepreneur they are innovation and creativity. An action oriented and searching for new ideas

Characteristics of successful; Entrepreneur � Innovation- vision and action � Passion & Motivation: � Risk Taking � Self-belief, Hard work & Disciplined Dedication � Understand Your Offering – And Its Market � Planning � Networking Abilities � leadership

Entrepreneur skills/ knpwledge � Ability to plan � Marketing � Interpersonal skills � Persona effectiveness � Team building skills � Leadership skills � Communication skills � Self confidence etc

Concept of Entrepreneurship � � � Entrepreneurship has traditionally been defined as the process of designing, launching and running a new business, which typically begins as a small business, such as a startup company, offering a product, process or service for sale or hire, and the people who do so are called 'entrepreneurs'. Tendency of person to organize the business of his own and to run its profitably, using all the qualities of leadership, decisions making and managerial caliber etc. the term entrepreneur is often used interchangeable with entrepreneurship.

� The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses � Entrepreneurship is the process of creating something new of value by devoting( giving) the necessary time and effort.

Role of Entrepreneurship in Economic Development � Create Jobs � Wealth Creation and Sharing: � Standard of Living: � Community Development: � GDP and Per Capita Income