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Introduction:
An Entrepreneur is the person who is
responsible for
-- setting up a business or enterprise.
-- takes initiative
-- innovative
-- and looks for high achievements.
refinition of an Entrepreneur:
The word derived from the French word
µenterprendre¶ means ³to undertake´.

According to J.A Schumpeter:

Entrepreneur is an innovator who carries out
new combinations to initiate the process of
economic development through introduction
of new products, new markets, take over of
new source of raw materials and
establishment of a new organization of
industry.
According to Webster: ³Entrepreneur is one who
assumes the responsibility of the risk and
management of business.´

According to Peter rrucker:

³Entrepreneur is one who always searches for change,
responds to it and exploits as an opportunity.
Innovation is a specific tool of entrepreneurs, the
means by which they exploit change as an
opportunity for different business or service.´

According to rewing: ³The function of entrepreneur is

one that promotes ideas into business.´
ãature and Importance of an Entrepreneur:
1.Contributes for the economic development.

2.Speed up the process of activating the factors

of production.

3.Creation of employment opportunities.

4.revelopment of backward and Tribal areas.

5.Improvement in the standard of living of the

weaker sections of the society.
Types of Entrepreneur:
1. Trading Entrepreneurs
a.Real Estate,
b.Mall Trading.

2. Industrial Entrepreneurs:
a. Large, b. Medium and c. Tiny Sector.

3.Corporate Entrepreneurs.
4.Agricultural Entrepreneurs
a.Plantation
b.Horticulture
c.Poultry [Poultry feed, poultry equipment, and
poultry processing sectors]

5.Service Entrepreneurs
a.Engineering
b.Beauty Parlours.

6.Health Entrepreneurs.
Classifications of Entrepreneurs
1.Innovating Entrepreneurs

2.Imitative Entrepreneurs

3.Fabian Entrepreneurs [lack the will to adopt to

new methods of production]

4.rrone Entrepreneurs [they are not ready to

make changes in their existing production
methods. They struggle to exist, not to grow
,continue to operate in a traditional way and
resist changes.
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According to James J.Berne

1.He is an enterprising individual, energetic,

hard working, resourceful, aware of new
opportunities, able to adjust himself with
changing conditions with ease and willing to
assume risks involved in change.
2.He is interested in advancing technology and
in improving the quality of his product or
service.
3.He is interested in expanding the scale of his
operations by reinvesting his earnings.

4.He visualizes changes and adopt

5.He is a firm believer in planning and

systematic work.

6.He works for the society at large.

Characteristics of an Entrepreneur.
Technical competence, initiative, good
judgment, intelligence, leadership qualities,
self- confidence, energy, attitude,
creativeness, fairness, honesty, tactfulness
and emotional stability.

1.Mental ability

2.Clear Objectives

3.Business Secrecy
4.Human relations ability

5.Communication ability

6.Technical knowledge
Intrapreneurship:
Intrepreneurship or intrapreneuring or
corporate entrepreneurship is the process by
which other new ventures are born with in an
existing corporation.

It involves
-- expansion by exploring new opportunities
-- through new combinations of existing
resources.
Entrepreneur Intrapreneur

Independent Semi- independent

person

Raises the necessary ãeither raises capital nor

Capital by himself and guarantees the investors.
Guarantees the return to the
investors.

Takes full risks roes not fully bear the

risks.
Operates from outside operating with in the orgns.
Examples for Intrapreneurship:
1) 3M: Minnesota Mining and Manufacturing
a) Allows employees to devote a percentage
of their time to independent projects.

2) HP: They failed to recognize the Steve

Wozniaks proposal for the personal
computer. But PC is the base for the Apple
Computers.

ravid Packard and Charles House[engineer

invented the high quality video monitor. It was
used by ãASA also the heart transplants.
3.IBM
-- separate organizations/ board of directors/
autonomous decision making authority.

-- products like Automatic Teller Machine for

Banks, Industrial robots, and the IBM
Personal Computer.
Intrapreneur ± Philip Estridge.
Intrapreneurial Environment:
1.Organization operates on frontiers of
technology
2.ãew ideas encouraged
3.Trail and error encouraged
4.Failures allowed
5.Resources available and accessible
6.Multidiscipline teamwork approach
7.Long time horizon
8.Appropriate reward system
9.Sponsors and support of Top management
Entrepreneurial Process
Stage I : Change in the economic environment,
creates needs for new goods and services.

Stage II: By starting a new venture.

Stage III: Intrapreneurship

Stage IV: Co-ordinating the varied activities to

achieve the entrepreneurial goal.
I. Concept of Entrepreneurship:

Acc to McClelland;
-- roing things in a new and better way.
-- entrepreneurial role calls for decision
making
under uncertainty.

According to Casson,
-- entrepreneurship consists of an eccentric
(unusual) evaluation of economic events
which other people are unwilling to support.
Acc to Keynes:
--ability to mobilize the resources and
combine them to initiate change in
production.

Aditya Mittal:
-- Entrepreneurship is a state of mind and can
be applied to any number of different fields.
-- it is critical as it helps to prevent stagnation
by challenging traditional thinking and drives
progress and development that can bring
about long term change.
-- everyone has the potential to be
entrepreneurial in their thinking and approach.

Finally,
An entrepreneur may at best be defined as a
person responsible for existence of new
business enterprises.
II. Phases of Entrepreneurship revelopment
Three Phases:

1. Initial Phase

2.revelopment Phase

3.Support Phase
1.Initial Phase:
Creation of awareness about the
entrepreneurial opportunities based on
survey.

2.revelopment Phase: [ErP]

Implementation of training programmes to
develop motivation and managerial skill.

3.Support Phase: Infrastructure support of

counselling and assisting to establish a new
enterprise and to develop existing units.
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ãational Level: [Promotion of MSMEs]
1. ãISIET ±ãational Institute Small Industry
Extension Training, Hyderabad.

2. IIE ± The Indian Institute of

Entrepreneurship
Guwahati.

3. ãIESBUr ± ãational Institute

Entrepreneurship and Small Business
revelopment
To promote entrepreneurship development in
India, the Ministry has two schemes:
Promotion of;
1.Entrepreneurship revelopment Institutions[
ErI]

2. ãational Entrepreneurship revelopment

Board
[ãErB]
Objectives of these Programmes:

1.Promoting entrepreneurship for creating

self- employment through enterprise
creating.

2.Facilitating creation of training infrastructure

3.Supporting research of entrepreneurship

related issues.
III. Factors Influencing Entrepreneurship.
1.Technical knowledge

2.Entrepreneurial Training

3.Market contacts

4.Family business

5.Availability of capital
6.Successful role models

7.Local manpower

8.Capable advisors& supporters

9.Supplier assistance

10.Governmental & Institutional support.