ENTREPRENEUR

The word entrepreneur is derived from the

French verb enterprendre. It means to
undertake.
The term entrepreneur was applied to
business initially by the French economist,
Cantillon, in the 18th century, to designate a
dealer who purchases the means of production
for combining them into marketable products.

ENTREPRENEURSHIP may defined in

various ways, but the four key elements
involved in it are:
i. Innovation.
ii. Risk-taking.
iii.Vision.
iv.Organising skill.

MEANING

An individual who bears the risk of operating a

business in the face of uncertainity about the future
conditions.
An entrepreneur is a person who has possession of an
enterprise, or venture, and assumes significant
accountability for the inherent risks and the outcome. It
is an ambitious leader who combines land, labor, and
capital to often create and market new goods or
services.

WORKING DEFINITION
An entrepreneur is a person who combines
various factors of production, processes raw
material, converts the raw material into a
finished product and creates utility and sells
the produce in the market to earn profit .

ENTREPRENEURS ARE MADE AND

NOT BORN.

JOSEPH A. SCHUMPETER
The entrepreneur in an advanced economy is an
individual who introduces something new in the
economy.
Entrepreneur is who innovates, raises money,
assembles input,chooses managers and sets the
organisation going with his ability to identify.

PETER DRUCKER
Entrepreneur as one who always searches for
change, respond to it and exploits it as an
opportunity . Innovation is the specific tool of
entrepreneurs, the means by which they exploit
change as an opportunity for a different business
or services.

E.E. HAGGEN
An entrepreneur is an economic man who tries to
maximise his profits by innovations.
Innovations involve problem- solving and the
entrepreneurs gets satisfaction from using his
capabilities in attacking problems.

ENTREPRENEURSHIP
It requires a requires a willingness to take
calculated risks both personal and financial, and
then to do everything possible to reduce the
chances of failure.
It also includes the ability to build an
entrepreneurial or venture team to complement
your (the entrepreneur) own skills and talents.

HOW PEOPLE BECOME AN

ENTREPRENEUR?
By Necessity and Opportunity, Design and Default
Triggered by Social Disruption or Interruption
Entrepreneurs are created in good and bad
economic times.
Achievements and Financial Rewards for an
Entrepreneur.
Many begins but few make it.

ENTREPRENEUR TRAITS most important for

success:

Innovative & Opportunistic

Willingness to take risk
Initiative
Self reliance
Perseverance (keep trying to achieve something)
Need to achieve
Self confidence

ENTREPRENEUR TRAITS important for success

Leadership
Competitiveness
Good physical health
Creative
High level of energy
Versatility

ENTREPRENEUR TRAITS least important for

success
Ability to get along
Patience
Well organized
Desire for money
Tolerate uncertainty
Need for power
Need for affiliation