You are on page 1of 24

ENTREPRENEUR

MEANING:

An entrepreneur is one of the important segments of economic growth. Basically he

is a person responsible for setting up a business or an enterprise. In fact he is one who has the

initiative, skill for innovation and who looks for high achievements. He is a catalytic agent of

change and works for the good of people. He puts up new green field projects that create wealth,

open up many employment opportunities and leads to the growth of other sectors.

The word entrepreneur is derived from the French verb entreprendre. It means to

undertake. In the early 16th century, the Frenchmen who organized and led military expeditions

were referred to as entrepreneurs, Around 1700 A.D., the term was used for architects and

contractors of public works.

The term entrepreneur was applied to business initially by the French economist,

Caltillon, in the 18th century, designate a dealer who purchases the means of production for

combining them into marketable products. Another Frenchman J.B. Say, expanded Cantillons

ideas and conceptualized the entrepreneur as an organizer of a business firm, central to its

distributive and production functions. Beyond stressing the entrepreneurs importance to the

business, Say did little with his entrepreneurial analysis.

According to J.B.Say, an entrepreneur is the economic agent who unties all means of

production, the labour force of the one and the capital or land of the other and who finds in the

value of the products his results from their employment, the reconstitution of the entire capital

that he utilizes and the value of the wages, the interest and the rent which he pays as well as

profit belonging to himself. He emphasized the functions of co- ordination, organization and

supervision. Further, it can be said that the entrepreneur is an organizer and speculator of a
business enterprise. The entrepreneur lifts economic resources out of an area of lower into an

area of higher productivity and greater.

The New Encyclopaedia Britannica considers an entrepreneur as an individual who

bears the risk of operating a business in the face of uncertainty about the future condition.

As professor Jan Tin Bergen points out The best entrepreneur in any developing country

is not necessarily the man who uses much capital, but rather the man who knows how to organize

the employment and training of his employees. Whoever concentrates on this is rendering a

much more important service to his country than the man who uses huge capital.

Joseph A. Schumpeter thus writes The entrepreneur in an advanced economy is an

individual who introduces something new in the economy- a method of production not yet tested

by experience in the branch of manufacture concerned, a product with which consumers are not

yet familiar, a new source of raw material or of new markets and the like

Briefly, an entrepreneur is one who innovates, raises money, assembles inputs, chooses

managers and sets the organization going with his ability to identify them. Innovation occurs

through (1) the introduction of a new quality in a product (2) a new product(3) a discovery of a

fresh demand and a fresh source of supply and (4) by changes in the organization and

management.

New Concept of Entrepreneur The term entrepreneur has been defined as one who

detects and evaluates a new situation in his environment and directs the making of such

adjustments in the economic system as he deems necessary. He conceives of an industrial

enterprise for the purpose, displays considerable initiative, grit and determination in bringing his

project to fruition and in this process, performs one or more of he following.

Perceives opportunities for profitable investment


Explores the prospects of starting such a manufacturing enterprise

Obtains necessary industrial licenses

Arranges initial capital

Provides personal guarantees to the financial institutions

Promises to meet the shortfalls in the capital and

Supplies technical know-how.

The term entrepreneur is to be understood in its totality and not in a fabricated manner.

The term entrepreneur can only be understood with a bearing on economic, psychological,

sociological and cultural bearings. The social responsibility is essentially a part of

entrepreneurial outlook on life.


Fig:1 Basics of an Entrepreneur

ORGANISATION

INNOVATION
URGE RISK
SKILL
ENTERPRISE
VISION
GROWTH

MANAGEMENT

So, Entrepreneurs are individuals motivated by a will for power, special characteristics
being an inherent capacity to select correct answers,energy, will and mind to overcome fixed
talents of thoughts, and a capacity to withstand social opposition.
CHARACTERISITICS OF AN ENTREPRENEUR

A successful entrepreneur must be a person with technical competence, initiative, good

judgement, intelligence, leadership qualities, self confidence, energy, attitude, creativeness,

fairness, honesty, tactfulness and emotional stability.

Mental ability: Mental ability consists of intelligence and creative thinking. An entrepreneur

must be reasonably intelligent and should have creative thinking and must be able to engage in

the analysis of various problems and situations in order to deal with them. Clear objectives: An

entrepreneur should have a clear objectives as to the exact nature of the goods to be produced

and subsidiary activitie to be undertaken. A successful entrepreneur may also have the objective

to establish the products, to make profit or to render social service.

Business secrecy: An entrepreneur must be able to guard business secrets. Leakage of business

secrets to trade competitors is a serious matter which should be carefully guarded against by an

entrepreneur. An entrepreneur should be able to make a proper selection of his assistants.

Human relations ability: The most important personality traits contributing to the success of an

entrepreneur are emotional stability, personal relations, consideration and tactfulness. An

entrepreneur must maintain good relations with his customers if he is to establish relations that

will encourage them to continue to patronize his business. He must also maintain good relations

with his employees if he is to motivate them to perform their jobs at a high level of efficiency.

An entrepreneur who maintains good human relations with customers, employees, suppliers,

creditors and the community is much more likely to succeed in his business than the individual

who does not practice good human relations. Human relations ability can also be referred to as

tactfulness.
Fig 2: CHARACTERISITICS OF AN ENTREPRENEUR

ADMINISTRATIVE ABILITY
TECHNICAL KNOWLEDGE ORGANISATION SKILL

EFFECTIVE COMMUNICATION INTELLIGENCE

PUBLIC RELATIONS ENTREPRENEUR CREATIVITY

EMOTIONAL STABILITY INNOVATION

SOUND KNOWLEDGE CLEAR OBJECTIVE


BUSINESS SECRECY

Communication ability: Communication ability is the ability to communicate effectively.


Good communication also means that both the sender and the receiver understand each other and

are being understood. An entrepreneur who can effectively communicate with customers,
employees, suppliers and creditors will be more likely to succeed than the entrepreneur who does

not.

Technical knowledge: An entrepreneur must have a reasonable level of technical

knowledge. Technical knowledge is the one ability that most people are able to acquire if they try

hard enough.

An entrepreneur who has a high level of administrative ability, mental ability, human

relation ability, communication ability and technical knowledge stands a much better chance of

success than his counterpart who possesses low levels of these basic qualities.

Some key characteristics of a successful entrepreneur are:

Motivator: An entrepreneur must build a team, keep it motivated and provide an environment

for individual growth and career development.

Self confidence: Entrepreneurs must have belief in themselves and the ability to achieve their

goals.

Long term involvement: An entrepreneur must be committed to the project with a time horizon

of five to seven years. No ninety- day wonders are allowed.

High energy level: Success of an entrepreneur demands the ability to work long hours for

sustained periods of time.

Persistent problem solver: An entrepreneur must have an intense desire to complete a task or

solve a problem. Creativity is an essential ingredient.

Initiative: An entrepreneur must have initiative accepting personal responsibility for actions and

above all make good use of resource.

Goal setter: An entrepreneur must be able to set challenging but realistic goals.

Modern risk taker: An entrepreneur must be a moderate risk taker and learn from any failures.
These personal traits go a long way in making an entrepreneur a successful man or

woman.

CLASSIFICATION :

The entrepreneur have been broadly classified according to the types of business, use

of professional skill, motivation, growth and stages of development are discussed below

A. Entrepreneur according to the type of business:

BUSINESSENTREPRENEUR
ACCORDING TO THE TYPE OF BUSINESS
TRADING ENTREPRENEUR

INDUSTRIAL ENTRPRENEUR

CORPORATE ENTREPRENEUR

AGRICULTURAL ENTREPRENEUR

RETAIL ENTREPRENEUR

SERVICE ENTREPRENEUR

Business entrepreneur: Business entrepreneurs are individuals who conceive an idea for a new

product or service and then create a business to materialize their idea into reality.

Trading entrepreneur: Trading entrepreneur is one who undertakes trading activities and is not

concerned with the manufacturing work.

Industrial entrepreneur: Industrial entrepreneur is essentially a manufacturer who identifies the

potential needs of customers and tailors a product or service to meet the marketing needs.
Corporate entrepreneur: Corporate entrepreneur is a person who demonstrates his innovative

skill in organizing and managing corporate undertaking.

Agricultural entrepreneur: Agricultural entrepreneurs are those entrepreneurs who undertake

agricultural activities as raising and marketing of crops, fertilizers and other inputs of agriculture.

B.Entrepreneur in technology:

ACCORDING TO THE USE OF TECHNOLOGY


TECHNICAL ENTREPRENEUR

NON TECHNICAL ENTRPRENEUR

PROFESSIONAL ENTREPRENEUR

HIGH TECH ENTREPRENEUR

LOW TECH ENTREPRENEUR

Technical entrepreneur: A technical entrepreneur is essentially compared to a craftman.He

concentrates more on production than on marketing. He demonstrates his innovative capabilities

in matter of production of goods and rendering of services.

Non- technical entrepreneur: Non- technical entrepreneurs are those who are not concerned

with the technical aspects of the product in which they deal. They are concerned only with

developing alternative marketing and distribution strategies to promote their business.


Professional entrepreneur; Professional entrepreneur is a person who is interested is

establishing a business but does not have interest in managing or operating it once it is

established. Such an entrepreneur is dynamic and he conceive new ideas to develop alternative

projects.

C.Entrepreneur and Motivation:

ACCORDING TO THE MOTIVATION


PURE ENTREPRENEUR

INDUCED ENTREPRENEUR

MOTIVATED ENTREPRENEUR

SPONTANEOUS ENTREPRENEUR

Pure Entrepreneur: A pure entrepreneur is an individual who is motivated by psychological

and economic rewards.

Induced entrepreneur: Induced entrepreneur is one who is induced to take up an

entrepreneurial task due to the policy measures of the government that provides assistance,

incentives, concessions and necessary overhead facilities to start a venture.

Motivated entrepreneur: New entrepreneurs are motivated by the desire for self fulfillment.
Spontaneous entrepreneur: These entrepreneurs start their business by their natural talents.

D.Growth and entrepreneur:

ACCORDING TO THE GROWTH


GROWTH ENTREPRENEUR

SUPER GROWTH ENTREPRENEUR

Growth entrepreneur: Growth entrepreneurs are those who necessarily take up a high growth

industry which has substantial growth prospects.

Super growth entrepreneur: Super growth entrepreneurs are those who have shown enormous

growth of performance in their venture.

E.Entrepreneur and stages of development


ACCORDING TO THE STAGES OF DEVELOPMENT
FIRST GENERATION ENTREPRENEUR

MODERN ENTREPRENEUR

CLASSICAL ENTREPRENEUR

First generation entrepreneur: A first generation entrepreneur is one who starts an industrial

unit by innovative skill.He is essentially an innovator, combining different technologies to

produce a marketable product or service.

Classical entrepreneur: A classical entrepreneur is one who is concerned with the customer and

marketing needs through the development of a self supporting venture.

Entrepreneurial Development Cycle

1.Entrepreneurial education
2.Planned publicity for entrepreneurial opportunities
3. Identification of potential entrepreneurs through scientific method
4. Motivational training to new entrepreneurs
5. Help and guidance in selecting products and preparing project reports.
6.Making available techno economic information and product profits
7.Evolving locally suitablenew products and processes
8.Availability of local agencies with trained personnel for entrepreneurial
counseling and
promotion.
9.Recognition of entrepreneurial skills
1. Registration of unit
2. Arranging finance
3. Providing land, shed, power, water etc
4. Guidance for selecting and obtaining
machinery
5. Supply of scarce raw materials
Entrepreneurial
simulatory 6. Getting licences / import licences
cycle support 7. Providing common facilities
8. Granting tax relief or other subsidy
9. Offering management consultancy
10. Help marketing product
11. Providing information.

sustaining

i. Help modernization
ii. Help diversification / expansion / substitute production
iii. Additional financing for full capacity utilization
iv. Deferring repayment / interest
v. Diagnostic industrial extension / consultancy source
vi. Production units legislation / policy change
vii. Product reservation / creating new avenues for marketing
viii. Quality testing and improving service
ix. Need based common facility centre

Yash Agro Products ltd.


YUVRAJ PARKER Owner of Mango Pulp
Factory.

ABOUT THE ENTERPRISE

We, YASH AGRO PRODUCTS are a startup firm manufacturing 100% Pure

Alphonso Mango Pulp.The Mango Pulp manufactured at Yash Agro Products is

available by the name "Parkars". Although, this is the first year in the production of

mango pulp, we have been in the business of mango cultivation since 1987.

BUSINESS TYPE : Manufacturer / Exporters / Wholesale Suppliers of mangoes

YEAR OF ESTABLISHMENT: 2013

COMPANY TURNOVER : Below Rs. 0.5 Crore Approx.

OWNERSHIP : Individual (Sole proprietorship)

HISTORY AND DETAILS


Yuvraj Parkar ,28, Born and brought up in Ratnagiri & son of a farmer, completed BE. IT

from Mumbai University ,

MBA in Marketing from Mumbai , having own mango farms. After coming to Mumbai I

worked for 1 and half year in marketing.

Q.How and why you started manufacturing of mango pulp?

It was my childhood dream to start a factory of mango pulp.

Q.Where is your manufacturing plant located? Since how many years it is functioning?

Factory is located at Mirjole, Near Midc, Ratnagiri, Maharashtra - 415639, India.

Factory was established in the year 2013. But our business of cultivation of mangoes is since

1987.

Q.How did you manage to raise funds to start your business ?

Majorly I had borrowed all the required amount of funds from my family,

And borrowed Rs. 5,00,000/- from bank as loan.


The above funds were used for the purpose of setting up

Mango processing machines and

Packaging.

Maintainance and repair of machines.

Other items

Q.Give us some more details about your manufacturing plant:

The factory is based in Ratnagiri, conventional method, having good quality machines having

TWO lakh kg per annum.

Q.Total no of mangoes required to manufacture 1kg of pulp : 2.250kg

Q.What is the current total manufacturing capacity?

200 tones.

Q.What packing is offered?

1kg tin packing &


3.1kg tin packing.

Q.What markets are the products sold out, is it local or fully export oriented venture ?

Both domestic and export oriented

Q.Do you offer white label branding to buyers to brand product in their own name?

Yes

Q.What is the minimum quantity for export of mangoes?

1 container: 20 tones

Q.Do you offer samples to customers on demand?

Yes and the min sample quantity is as per the customer requirement.

Q.What is the current market for mango and mango products?


Mango has a vast market , pulp is used in ice creams and juices. The demand is global and shall

grow as per time.

Q.Your future plans?

Researching more and more products of mangoes and agro products.

Expansion of business and making a larger scale of production.

We are soon going to start with processing mangoes for different uses such as :

Mango juice, mango chocolates, mango sweet dishes, mango ice cream,etc.
ABOUT THE PRODUCT

Product Range

Fresh Alphonso Mango

Ratnagiri Alphonso Mango Pulp

Fresh Alphonso Mango

is the most demanded variety of mangoes and considered as the tastiest mango in the entire

world. Our Fresh Alphonso Mango exhibits juicy taste, enticing smell and excellent quality due

to which it is highly in demand. These Fresh Alphonso Mango provided by us is cultivated and

processed under hygienic conditions. Our affordable Fresh Alphonso Mango is available in

quality packing and guaranteed to be delivered within the stipulated timeframe. We provide the

bulk quantities of Fresh Alphonso Mango at the market leading prices for our clients.
Used For Making

Ice cream

Juice

Milkshake

Fruit salad
Ratnagiri Alphonso Mango Pulp

is hygienically processed and procured from the fresh and juicy Ratnagiri Alphonso Mangoes.

The Ratnagiri Alphonso Mango Pulp can be used to prepare various delicious desserts, dishes,

mocktails, etc. Our Ratnagiri Alphonso Mango Pulp is fresh, tasty and healthy as it is enriched

with the nutrients of a real alphonso mango. The Ratnagiri Alphonso Mango Pulp is available in

quality packing and as per the requirement of the client. We provide the bulk quantities of

Ratnagiri Alphonso Mango Pulp at market leading prices.


Used For Making

Amras

Ice cream

Juice

Milkshake

Barfi

Amrakhand

Fruit salad

Pudding

Lassi

Yoghurt

Ingredients
Pure Ratnagiri alphonoso mango pulp

Sugar

Additional Information

Serving Size : 100gm

Serving Per Container : 8.5

CONCLUSION OF THE STUDY


Based on the thorough evaluation of the findings of the research and critically analyzing their

interpretations and subsequent discussions following conclusions have been drawn:

Providing right variety quality seedling/sapling in right quantity at right time. Necessary

arrangements have to be made to ensure this.

Careful monitoring of the growth.

Using effective and efficient farm management practices.

Using right mode for harvesting at the right time .

Employing effective and efficient post-harvest management practices and post-harvest

technologies.

Seeking the benefits of economies of scale. Minimizing post-harvest loss, etc.