PRESENTED BY: MISS. JUHI GHOSH (B.B.

A-III)

Who is an Entrepreneur?
A PERSON ORGANISES & MANAGES

BUSINESS UNDERTAKING

ASSUMING RISK

FOR THE SAKE OF PROFIT

ENTREPRENEURSHIP
AN ENTREPRENEUR

FOUR FACTORS OF PRODUCTION

LAND LABOUR CAPITAL ORGANISATON

NEW VENTURE

Three Aspects of Entrepreneurship

1. The identification of market opportunity and the generation of a business idea to address the opportunity

Three Aspects of Entrepreneurship

2. The marshalling and commitment of resources in the face of risk to pursue the opportunity

Three Aspects of Entrepreneurship

3. The creation of an operating business organization to implement the opportunity-motivated business idea

GROWTH OF ENTREPRENEURSHIP IN INDIA

ENTREPRENEURSHIP DURING PREINDEPENDENCE
Handicrafts

ENTERPRENEURSHIP DURING POSTINDEPENDENCE

Government

Entrepreneurship

Manufacturing Entrepreneurship

policies

Maintain proper distribution

Encourage the tempo of industrialisation

Disseminate entrepreneurshi p acumen

SOME MAJOR EFFECTS OF PARTITION ON INDIAN INDUSTRIAL ECONOMY

INDIA 23% 18% 10% PAKISTAN 7% 3% 7%

77%

82%

90%

93%

97%

93%

In case of manpower & managerial skill, India was at loss whereas Muslims possessed these skills who migrated to Pakistan. India lost major ports which adversely affects Indias exports.

ROLE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT

Promotes capital formation
Provide large scale employment Stimulates the equitable redistribution Encourages effective resource mobilization Promotes countrys export trade

THEORIES OF ENTREPRENEURSHIP
Entrepreneurship Innovation Theory - by Joseph Schumpeter
According to him, innovation occurs when the entrepreneur:
Introduces a new product Introduces a new production method Opens up a new market Finds out a new source of raw material supply

Introduces new organization in any industry

These theory emphasizes on innovation, ignoring the risk taking and organizing abilities of an entrepreneur.

THEORIES OF ENTREPRENEURSHIP
Theory of High Achievement
-by McClelland According to him, a person has three types of needs at any given time, which are:
Need for achievement Need for power Need for affiliation

The need for achievement is the highest for entrepreneurs.

Entrepreneurship
Some advantages
You are your own boss

Enjoy the profits from your efforts

Sense of pride in your business Flexibility in your work schedule

Entrepreneurship
Some disadvantages
Will need to put in long hours

Need money to start

Have to keep up with government

rules and regulations May have to make hard decisions May lose money

CONCLUSION
All the activities which an entrepreneur

do and all the management run by him is an entrepreneurship

THANK YOU