By:By: srinivassrinivas

ENTREPRENEURSHIP

Entrepreneurship: Stepping Stone for Your Success

DEFINITION AND DEFINITION AND MEANINGMEANING

Albert ShapiroAlbert Shapiro – Entrepreneurs take initiative, – Entrepreneurs take initiative, accept risk of failure and have an internal locus of accept risk of failure and have an internal locus of control.control.

An Entrepreneurship signifies a continuous, ever An Entrepreneurship signifies a continuous, ever evolving, ever expanding opportunity for personal as evolving, ever expanding opportunity for personal as well as business growth and development well as business growth and development

SLOGANSLOGAN A nice slogan was given A nice slogan was given

by by SWAMI SWAMI

VIVEKANANDA……VIVEKANANDA…………

““YOU ARE THE YOU ARE THE CREATOR OF YOUR CREATOR OF YOUR OWN DESTINY”OWN DESTINY”

ENTREPRENEURSHIP SYSTEM

SUCCESSFUL ENTREPRENEURSSUCCESSFUL ENTREPRENEURS

The following are some of successful The following are some of successful Entrepreneurs:Entrepreneurs:

Mr. PATELMr. PATEL - - Nirma Group of companiesNirma Group of companies.. Mr. NARAYANA MURTHYMr. NARAYANA MURTHY – – Infosys Infosys

TechnologiesTechnologies Mr. DHIRUBAI AMBANIMr. DHIRUBAI AMBANI – – Reliance GroupReliance Group Mr. RAMOJI RAOMr. RAMOJI RAO – – Eenadu GroupEenadu Group Mr. LAKSHMI MITTAL Mr. LAKSHMI MITTAL –– Mittal Iron IndustriesMittal Iron Industries

WHAT IS WHAT IS ENTREPRENEURSHIP?ENTREPRENEURSHIP?

It can be described as a process of action an It can be described as a process of action an entrepreneur undertakes to establish his entrepreneur undertakes to establish his enterprise.enterprise.

IT IS A CREATIVE ACTIVITY. IT IS A CREATIVE ACTIVITY.

WHO IS AN WHO IS AN ENTREPRENEURENTREPRENEUR

He is a person who start He is a person who start the business in search of the business in search of new challenges.new challenges.

He convert threat into He convert threat into opportunity.opportunity.

He is creative and He is creative and innovative.innovative.

ADVANTAGES OF ADVANTAGES OF ENTREPRENEURSHIPENTREPRENEURSHIP

1.INCOME GENERATION :1.INCOME GENERATION :

It is the initial stage in the It is the initial stage in the entrepreneurial process in which one tries to generate surplus or entrepreneurial process in which one tries to generate surplus or profit profit

2.SELF EMPLOYMENT:2.SELF EMPLOYMENT:

It is the second stage in the entrepreneurial It is the second stage in the entrepreneurial process and refers to an individuals full time involvement in his process and refers to an individuals full time involvement in his own occupationown occupation

FUNCTIONS OF FUNCTIONS OF ENTREPRENEURENTREPRENEUR

1. INNOVATION:1. INNOVATION:

2. RISK BEARING:2. RISK BEARING:

3. ORGANISATION BUILDING:3. ORGANISATION BUILDING:

EMPLOYMENT :EMPLOYMENT : Works for others.Works for others. Follow instructions.Follow instructions. Routine jobs.Routine jobs. Does not create wealth.Does not create wealth. Earning is fixed.Earning is fixed.

ENTREPRENEURSHIP:ENTREPRENEURSHIP: Own boss.Own boss. Make own plans.Make own plans. Creative activity.Creative activity. Creates wealth.Creates wealth. Earning can be negative Earning can be negative

or positive.or positive.

EMPLOYMENT ENTREPRENEURSHIP≠≠

ENTREPRENEUR ENTREPRENEUR VS

MANAGERMANAGER An entrepreneur is his An entrepreneur is his

own boss.own boss. An entrepreneur An entrepreneur

initiates change.initiates change. An entrepreneur gets An entrepreneur gets

uncertain rewards.uncertain rewards. An entrepreneur An entrepreneur

assumes financial, assumes financial, material and material and psychological risks.psychological risks.

A manager is a hired A manager is a hired employee.employee.

A manager follows rules A manager follows rules and procedures.and procedures.

A manager gets fixed A manager gets fixed rewards and salary.rewards and salary.

A manager does not A manager does not have to bear risks.have to bear risks.

FUTUREFUTURE ENTREPRENEURENTREPRENEUR

CONCLUSIONCONCLUSION

The identification and development of 1The identification and development of 1stst generation entrepreneurs through generation entrepreneurs through Entrepreneurial Development Programmes is Entrepreneurial Development Programmes is an important strategy.an important strategy.

India needs entrepreneurs to capitalize on new India needs entrepreneurs to capitalize on new opportunities and to create wealth and new opportunities and to create wealth and new jobs. jobs.