Chapter One: Introduction

to Entrepreneurship &
Small Management
Tutor: Farhan Bulale (BDS, MSW)
PGDs HRM
Email: [email protected]

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 Chapter Framework
• Definition
• Introduction
• What is Entrepreneurship
• Types of Entrepreneurship
• Characteristics of Entrepreneurship
• Importance of Entrepreneurship
• Conclusion

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 Introduction
• Entrepreneurship is the ability and determination to create, organize,
and manage a business's execution, including all of its uncertainties, in
order to profit.
• Entrepreneurship is the act of creating a business
with the goal of profiting from it. Our modern
understanding of entrepreneurship, on the other hand,
recognizes its power to solve large-scale problems and
affect social change.
• At its most basic, entrepreneurship refers to someone
or a small group of partners who go on an innovative
route to establish a new business.
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 Count…
• The entrepreneurs are often known as a source of new ideas or
innovators, and bring new ideas in the market by replacing old with a
new invention.
• The most visible manifestation of entrepreneurship is the
establishment of new firms.
• Entrepreneurship including land, labor, natural
resources, and capital can yield a profit in economics.
• The entrepreneurial vision is defined by innovation and
risk-taking, and it is a crucial element of a country's ability
to be successful in an ever-changing and increasingly
competitive global marketplace.
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 Who is entrepreneur
• The entrepreneur is defined as someone who has
the capacity and willingness to build, manage, and
succeed in a starting enterprise, as well as the risk
associated with it, in order to profit.
• The launch of an innovative business start is the best
example of entrepreneurship.

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 What is the small business?
• A small business is defined as a corporation,
partnership, or individual with fewer employees
(and, often, lesser revenue) than larger firms.
• The actual legal definition of a small business varies by
location and is frequently depending on the business's
industry.
• A small business is one that operates on a small scale
and requires less capital investment, fewer employees,
and less equipment to operate.

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 Types of Entrepreneurship
• Small Business Entrepreneurship-
• These businesses include a salon, a grocery store, a
travel agent, a consultant, a carpenter, a plumbing
technician, an electrician, and so on.
• These individuals run or own their own businesses and
employ family members or locals.
• For them, the profit would be being able to feed their
family rather than generating a million dollars or taking
over an industry.

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• Sustainable Startup Entrepreneurship-
• This entrepreneur launches a business with the belief
that their concept has a chance to change the world.
• They attract thinkers and encourage individuals to think
outside the box.
• Because the research focuses on profitable companies
and experimental models, they hire the smartest and
brightest employees.
• Scalable startups are businesses that have the
potential to develop rapidly and become very profitable.
For this startup approach to generate demand and propel
firm growth, outside funding and risk are necessary.
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• Large Company Entrepreneurship-
• These big businesses have established life cycles.
• The majority of these businesses expand and remain
profitable by introducing fresh, innovative products that
complement their core offerings.
• Large businesses are under pressure to develop an
innovative product and offer it to a new group of
customers in a new market as a result of changing
technology, client preferences, new competition, etc.

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• Meaning of Large Company Entrepreneurship The
phrase "large company entrepreneurship" refers to the
entrepreneurial activities and manner of thinking that
occur within huge commercial companies.
• It entails creating value within the boundaries of a huge
firm while encouraging progress and adapting to
change.
• It also calls for the application of innovative thinking,
taking risks, and entrepreneurial ideals.

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• Social Entrepreneurship-
• This type of entrepreneurship focuses on producing product and services
that resolve social needs and problems.
• Their only motto and goal is to work for society and not make any profits.
• In general, social entrepreneurship refers to a brand-new,
innovative company effort that affects change. A social
entrepreneur creates a business plan with the goal of having
a positive impact on a certain subject they are committed
about. The major objective is to use business to bring
about long-lasting social transformation.

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