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Understanding Entrepreneurship and The Entrepreneur

The document discusses entrepreneurship and the entrepreneur. It defines entrepreneurship as the professional application of knowledge, skills, and competencies to launch a new enterprise or diversify an existing one in order to pursue growth and generate wealth, employment, and social good. Entrepreneurship is described as a creative process of undertaking actions to establish a new enterprise by sensing opportunities where others see chaos. The document also discusses different types of entrepreneurs and notes that entrepreneurship is a complex process influenced by socio-economic, psychological, technological, legal, and other factors.

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Tushar Bhati
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83 views

Understanding Entrepreneurship and The Entrepreneur

The document discusses entrepreneurship and the entrepreneur. It defines entrepreneurship as the professional application of knowledge, skills, and competencies to launch a new enterprise or diversify an existing one in order to pursue growth and generate wealth, employment, and social good. Entrepreneurship is described as a creative process of undertaking actions to establish a new enterprise by sensing opportunities where others see chaos. The document also discusses different types of entrepreneurs and notes that entrepreneurship is a complex process influenced by socio-economic, psychological, technological, legal, and other factors.

Uploaded by

Tushar Bhati
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Unit A Understanding Entrepreneurship and the Entrepreneur

A1  Why Entrepreneurship
 The Concept & Process of Entrepreneurship
 Exercise/Activity: Identify your entrepreneurial potential
A2  Types of entrepreneurship and entrepreneur
 Entrepreneur Vs. Manager Vs. Intrapreneur
 The Women & Social Entrepreneurship: Opportunities & Challenges
A3  The Qualities , Characteristics & Competencies of an Entrepreneur
 An overview of corporate Entrepreneurship
 Exercise/Case study
Unit B Idea, Opportunity and the Business Plan Development
B1  Idea vs. Opportunity and Idea generation techniques
 Identifying/ sources of opportunities and evaluating opportunities
 Idea generation exercise
B2  Doing Feasibility Analysis: Product, Market, Economic , Organizational,
Technical , and Financial feasibility
 Exercise/ Activity to conduct Feasibility Analysis
B3  Writing and Presenting effective Business Plans
 Business model and its dimensions
 Exercise/ Discussion of Business Plan Formulation
Unit C Launching the New Enterprise
C1  Forming the New venture Team
 Selecting appropriate Business Ownership Structure
 Exercise/ Activity: Forming New Venture Team
C2  IPR issues in starting an enterprise
 Legal aspects of a business

C3
 Financing the New Venture: Various sources of finance including Angel
Investors; Venture capitalist; Private equity and IPO
 Steps and Procedures to start a small scale enterprise in India
Unit D Managing the Growth and Exit of the firms

D1  Understanding the Stages of an Entrepreneurial Venture


 The Strategies of growth
 Case study
D2  Managerial mindset vs. Entrepreneurial mindset in decision making
 Key factors to be considered during the Growth Stage
 Group Presentation/ Business Plan Presentation

D3  The Exit Strategy for a business


 Group Presentation/ Business Plan Presentation
Unit E Understanding the Entrepreneurship Development Framework in India
E1  An overview of MSMEs in India and MSME Act.
 Policies, Schemes &
Incentives available to entrepreneurs in India

E2  Understanding the Institutional (National ,State and District level)


support Systems for Entrepreneurship Development in India
 An overview of Start-up India & Make in India Initiatives

Unit -1

‘Entrepreneurship is the professional application of knowledge, skills and competencies


and/or of monetizing a new idea, by an individual or a set of people by launching an enterprise
de novo or diversifying from an existing one (distinct from seeking self employment as in a
profession or trade), thus to pursue growth while generating wealth, employment and social
good’.

Entrepreneurship can be described as a process of action an entrepreneur undertakes to establish


his enterprise. Entrepreneurship is a creative activity. It is the ability to create and build
something from practically nothing. It is a knack of sensing opportunity where others see chaos,
contradiction and confusion. Entrepreneurship is the attitude of mind to seek opportunities, take
calculated risks and derive benefits by setting up a venture. It comprises of numerous activities
involved in conception, creation and running an enterprise.

According to Peter Drucker Entrepreneurship is defined as ‘a systematic innovation, which


consists in the purposeful and organized search for changes, and it is the systematic analysis of
the opportunities such changes might offer for economic and social innovation.

Entrepreneurship is a discipline with a knowledge base theory. It is an outcome of complex


socio-economic, psychological, technological, legal and other factors. It is a dynamic and risky
process. It involves a fusion of capital, technology and human talent. Entrepreneurship is equally
applicable to big and small businesses, to economic and non-economic activities. Different
entrepreneurs might have some common traits but all of them will have some different and
unique features. If we just concentrate on the entrepreneurs then there will be as many models as
there are ventures and we will not be able to predict or plan, how and where, and when these
entrepreneurs will start their ventures.

Entrepreneurship is a process. It is not a combination of some stray incidents. It is the purposeful


and organized search for change, conducted after systematic analysis of opportunities in the
environment. Entrepreneurship is a philosophy- it is the way one thinks, one acts and therefore it
can exist in any situation be it business or government or in the field of education, science and
technology or poverty alleviation or any others.

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