2000

Indian Entrepren eurship took great leap in the global market entering in to service Industry (IT, BPO, Bio Technolo gy, hospitalit y etc) India establishe d leadershi p in several areasBajajLargest manufact ure of 2 wheelers Ambuja cementcheapest manufact uring of cement

Job market is changing; Compani es are passing through highly unstable phase. It may call for drastic changes in their business form that will lead to change in the employee pool. Jobs and remunera tion eill be more result

THEORI ES OF ENTREP RENEU RSHIP

Theory of High Achieve ment

3 Basic Needs

Need for achievement

Need for affiliation

Need for recognition

McClella nd identified 2 characteri stics of Entrepren eurship. 1. Doing things in a new and better way 2. Decision making under uncertain ty

Achieve ment orientatio n is defined as tendency to strive for success in situation involving an evaluatio n of ones performa nce in relation to some standards of excellenc e. Need for achievem ent is needed for successfu l entrepren eurs.

People with high achievem ent are not motivate d by money alone. Money is just a measure of success for them. Highly successfu l entrepren eurs have high need for achievem ent. They do things that make them They strive hard to achieve. Take failures as learning experienc e and bounce back

Dynamic Entrepre neurship Innovati on theory or Schumpe ters theory of creative destructi on Was not widely accepted in 1930,s as dominanc e of sellers market Theory was only mere fancy till 19990 when mega corporate s failed due to over emphasis on operation which worked well in past.

The theory advocates discontin uance of anything organsiati on/produ ct/service /philosop hy which has worked well in past.

Advocate s change by creative destructio n in response to market condition

Theory advocates the age of discontin uity and more on formulati ng the right questions and then the right answers for survival.

CHARA CTERIS TICS OF ENTREP RENEU RS

Decision Making

Accepting Challenges

Organisation Skillful management

Risk Taking Innovation

Entrepreneurship

Making the enterprise a success

Character istics 1. Mental Ability2. Clear objective s 3. Business secrecy 4. Human relations ability 5. Commun ication ability 6. Technical knowledg e 7. Long term involvem ent 8. High energy levels 9. Administ rative ability 10. Need for Independ ence 11. Dignity of labour

12. Social conscious ness QUALIT IES OF AN ENTRE PRENE UR Hardwor king Energetic Resource ful Visualize s change Planner and believes in systemati c work Motivatio n towards achievem ent Creative Clarity Confiden ce Dreamer Instinct

FUNCTI ONS OF AN ENTREP RENEU R

Risk Taking Reduces uncertainti es by initiative and skill judgment Location

Function Manageri of Business al innovatio decision Functions n

Formulate production New plans goods

Bears losses

Technique s of Organises New production personnel markets New Changes source of in Arrange raw Business finance material

ROLE OF CULTUR E IN ENTREP RENEU RIAL DEVELO PMENT

Perceptio n that starting new venture is desirable stems from an Individua ls culture, subcultur e family and peers A culture that values an individua l who creates an enterprise will spawn more venture formation s American Cultureindepend ence, individua l opportuni ties, making money

More individua ls plan new enterprise s in these supportiv e environm ents.

REWAR DS AND MOTIVA TION OIF ENTREP RENEU R Independ ence Money Job Satisfacti on

CHANG E IN LIFESTY LE Decision to leave secure career is not easy

R & D and marketin g, main areas for new venture Role of disruptio nRetireme nt, relocatio n, been fired, completi on of education al degree.

TYPES OF ENTREP RENEU RS

Business Entrepreneur Trading Entrepreneur

According to type of Business

Industrial Entrepreneur Corporate Entrepreneur Agricultural Entrepreneur

According to use of technology

Technical Entrepreneur Non Technical Entrepreneur Professional Entrepreneur

According to motivation

Pure Entrepreneur Induced Entrepreneur Motivated Entrepreneur Spontaneous Entrepreneur

According to Growth

Growth Entrepreneur Super Growth Entrepreneur

According to stages of developm ent

1st Generation Entrepreneur Modern Entrepreneur Classical Entrepreneur

Others

Innovating Entrepreneur Imitative

Entrepreneurial Process Stage 1. Change in socio economic environment in the country leading to want of new goods and services Stage 2. Starting a new Venture

Stage 3. Intrapreneurship Stage 4. Coordinating various activities to achieve entrepreneurial goal Or. Identify and evaluate the opportunity Developing the business plan Determine resources required Manage the enterprise Entrepreneurial decision process

Change from Present lifestylework Environme nt and Distruption s

Form New Enterprise Desirable Cultural Sub cultural Family Teachers peers Possible Government Background Marketing Financing Role Models

2000

Indian Entrepren eurship took great leap in the global market entering in to service Industry (IT, BPO, Bio Technolo gy, hospitalit y etc) India establishe d leadershi p in several areasBajajLargest manufact ure of 2 wheelers Ambuja cementcheapest manufact uring of cement

Job market is changing; Compani es are passing through highly unstable phase. It may call for drastic changes in their business form that will lead to change in the employee pool. Jobs and remunera tion eill be more result

THEORI ES OF ENTREP RENEU RSHIP

Theory of High Achieve ment

3 Basic Needs

Need for achievement

Need for affiliation

Need for recognition

McClella nd identified 2 characteri stics of Entrepren eurship. 1. Doing things in a new and better way 2. Decision making under uncertain ty

Achieve ment orientatio n is defined as tendency to strive for success in situation involving an evaluatio n of ones performa nce in relation to some standards of excellenc e. Need for achievem ent is needed for successfu l entrepren eurs.

People with high achievem ent are not motivate d by money alone. Money is just a measure of success for them. Highly successfu l entrepren eurs have high need for achievem ent. They do things that make them They strive hard to achieve. Take failures as learning experienc e and bounce back

Dynamic Entrepre neurship Innovati on theory or Schumpe ters theory of creative destructi on Was not widely accepted in 1930,s as dominanc e of sellers market Theory was only mere fancy till 19990 when mega corporate s failed due to over emphasis on operation which worked well in past.

The theory advocates discontin uance of anything organsiati on/produ ct/service /philosop hy which has worked well in past.

Advocate s change by creative destructio n in response to market condition

Theory advocates the age of discontin uity and more on formulati ng the right questions and then the right answers for survival.

CHARA CTERIS TICS OF ENTREP RENEU RS

Decision Making

Accepting Challenges

Organisation Skillful management

Risk Taking Innovation

Entrepreneurship

Making the enterprise a success

Character istics 1. Mental Ability2. Clear objective s 3. Business secrecy 4. Human relations ability 5. Commun ication ability 6. Technical knowledg e 7. Long term involvem ent 8. High energy levels 9. Administ rative ability 10. Need for Independ ence 11. Dignity of labour

12. Social conscious ness QUALIT IES OF AN ENTRE PRENE UR Hardwor king Energetic Resource ful Visualize s change Planner and believes in systemati c work Motivatio n towards achievem ent Creative Clarity Confiden ce Dreamer Instinct

FUNCTI ONS OF AN ENTREP RENEU R

Risk Taking Reduces uncertainti es by initiative and skill judgment Location

Function Manageri of Business al innovatio decision Functions n

Formulate production New plans goods

Bears losses

Technique s of Organises New production personnel markets New Changes source of in Arrange raw Business finance material

ROLE OF CULTUR E IN ENTREP RENEU RIAL DEVELO PMENT

Perceptio n that starting new venture is desirable stems from an Individua ls culture, subcultur e family and peers A culture that values an individua l who creates an enterprise will spawn more venture formation s American Cultureindepend ence, individua l opportuni ties, making money

More individua ls plan new enterprise s in these supportiv e environm ents.

REWAR DS AND MOTIVA TION OIF ENTREP RENEU R Independ ence Money Job Satisfacti on

CHANG E IN LIFESTY LE Decision to leave secure career is not easy

R & D and marketin g, main areas for new venture Role of disruptio nRetireme nt, relocatio n, been fired, completi on of education al degree.

TYPES OF ENTREP RENEU RS

Business Entrepreneur Trading Entrepreneur

According to type of Business

Industrial Entrepreneur Corporate Entrepreneur Agricultural Entrepreneur

According to use of technology

Technical Entrepreneur Non Technical Entrepreneur Professional Entrepreneur

According to motivation

Pure Entrepreneur Induced Entrepreneur Motivated Entrepreneur Spontaneous Entrepreneur

According to Growth

Growth Entrepreneur Super Growth Entrepreneur

According to stages of developm ent

1st Generation Entrepreneur Modern Entrepreneur Classical Entrepreneur

Others

Innovating Entrepreneur Imitative

Entrepreneurial Process Stage 1. Change in socio economic environment in the country leading to want of new goods and services Stage 2. Starting a new Venture

Stage 3. Intrapreneurship Stage 4. Coordinating various activities to achieve entrepreneurial goal Or. Identify and evaluate the opportunity Developing the business plan Determine resources required Manage the enterprise Entrepreneurial decision process

Change from Present lifestylework Environme nt and Distruption s

Form New Enterprise Desirable Cultural Sub cultural Family Teachers peers Possible Government Background Marketing Financing Role Models

w goods and services

w goods and services