Concept and Need of Entrepreneurships

Presented by : Ankit Sharma Digvijay Singh Shubhashini Singh Aradhana Sharma Shifali Simon

Meaning of entrepreneur
The word entrepreneur' is derived from the French word entreprendre which means to undertake. In the early 16th century the French men who organized and led military expeditions were referred to as entrepreneur'. After 1700,the term was applied to other types of adventures, mainly civil engineering like constructions of roads etc.

What is Entrepreneurship?
An entrepreneur is a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business.
Differ from many small-business owners in their strong desire to make their business grow. Differ from managers through their overriding responsibility to use the resources of the organization to accomplish their goals. Willing to take risks.

Introduction of Entrepreneurship
The concept of entrepreneurship came into usage

in the late of 18th century. The industrial Revolution in England has encouraged development of entrepreneur Strategic thinking and risk-taking behavior that results in the creation of new opportunities for individuals and/or organizations

Entrepreneurship: Concepts & Definitions

Entrepreneurship is an act of initiative, drive, commitment, diligence, perseverance, organized effort, and achievement outlook, to undertake some specific functions of performing productive activities and the capacity to bear and associated with the investment.

Entrepreneurship: Concepts & Definitions

(The Revised GEM Model)
Basic Requirements: Institutions Infrastructure Economic Stability Health & Primary Education Efficiency Enhancer: Higher Education & Training Goods & Labour Market Efficiency Financial Market Innovation & Entrepreneurship: Entrepreneurial Finance Entrepreneurship Education R& D Transfer etc

Entrepreneurship Attitudes: Perceived Opportunity Activity: Early Stage Aspiration: Growth

National Economic Growth (Jobs &Technical Innovations)

Examples of successful Entrepreneurs

Rahul Bajaj is Chairman of the Bajaj Group which is one of the top ten business groups in India. Azim Premji is Chairman of Wipro Technologies which is one of the largest software companies in India.

Narayana Murthy is one of the founders of Infoys Technologies Limited. In 1999, Infoys became the first Indian company to be listed on NASDAQ.
ANIL Dhirubhai is the Chairman of Anil Dhirubhai Ambani Group.

Ekta kapoor is the director of Balaji Telefilms has produced over 25 serials. awarded the startup entrepreneur of the year in 2001 by Young.

Entrepreneurship: The Importance

Central to the development of economy The micro and small enterprises (MSEs) constitute over 90% of total enterprises in most of the economies. Employment generation MSE sector accounts for about 39% of the manufacturing output and around 33% of the total export of the India (in term of value).

Entrepreneurship: The Importance

The nation that fosters an infrastructure of linkages among and between firms, universities and government gains competitive advantage through quicker information diffusion and product deployment. Leading knowledge based economy in the World (Lisbon Council) and key issue for the EU is to build a climate in which entrepreneurial initiative and business activity can thrive.

Entrepreneurial Initiatives in India

Institutes of national importance that have been setup through an act of parliament (IITs, IIMs, NITs, AIIMS, IISc etc.) are the main leaders in the field of knowledge transfer for entrepreneurship development.
o

Examples:
Organizing Competitions like Great Idea, helping and incubating ideas.

o IIT Kharagpur: Nina Saxena Excellence in Technical award (Yearly).

Entrepreneurial Initiatives in IndiaTop Incubation Center

1. Centre for Innovation, Incubation& Entrepreneurship (CIIE) - IIM Ahmadabad
Set up in 2001 Since inception CIIE has 15-odd innovations grow out of the incubation centre in varied technologies

2. Nirma Labs, Nirma University, Ahmadabad

Established in 2004, Nirma Labs used to pride itself in a three-step model for students who were interested to start their own businessestraining, incubation and funding.

Entrepreneurial Initiatives in IndiaTop Incubation Center

3. Cell for Tech Innovation, Development & entrepreneurship support- IIT Chennai
Set up in 2000 Organises national level competitions, Breakthrough (general business plan competition) and Genesis (social entrepreneurship plan competition)

4. The SP Jain Centre for Entrepreneurship DevelopmentSPJIMR

16-week 'Start Your Own Business' programme-a public programme held every six months.

Entrepreneurship Characteristics
The following are distinctive traits and qualities entrepreneurs need to run and operate a successful business:

Persistent Creative Responsible Inquisitive Goal-Oriented Independent Self-Demanding

Self-Confident Risk-Taking Restless Action-Oriented Enthusiastic

Need of Entrepreneurship

Employment generation: entrepreneurial development is looked at as a vehicle for employment generation through promotion of small business. countries like USA, Japan and UK in the field of employment generation . Small business dynamism: This quality of dynamism originates in the inherent nature of the small business. This allows for the greater flexibility and mobility of small business management. Balanced economic development: small business promotion needs relatively low investment and therefore can be easily undertaken in rural and semi-urban areas. Innovations in enterprises: business enterprises need to be innovative for survival and better performance. and capability to innovate.