Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Development
Life is about…
• Creating Value
• Taking calculated risks
(Minimizing Risk)
• Listening
to your heart
• Realizing your
aspirations ……….
Azim Premji
Dhirajlal Hirachand
"Dhirubhai“ Ambani
was an Indian business
tycoon who founded
Reliance Industries in
Bombay, and his
legacy is being taken
forward by his sons
Mukesh & Anil
Ambani.
J. R. D. Tata
Jehangir Ratanji
Dadabhoy Tata was a
French-born Indian
aviator and business
tycoon. He was the
Chairman of Tata Sons.
He became India's first
licensed pilot in 1929.
Dr. Prathap C. Reddy
Saurabh Saxena is
the CEO and Co-
Founder of Holachef,
the food delivery
startup started in
September 2014
that brings cuisines
prepared by chefs to
your doorstep
N. R. Narayana Murthy
Nagavara Ramarao
Narayana Murthy,
commonly referred
to as Narayana
Murthy, is an Indian
IT industrialist and
the co-founder of
Infosys.
Rahul Bajaj
Entrepreneur (Self)
IDEA REALITY
TIME
(that has
commercial
potential)
Resources Opportunity
Intrapreneur: Meaning
• Intrapreneurs emerge from within the
confines of an already established enterprise.
• In big organisations, the top executives are
encouraged to catch hold of new ideas and
then convert these into products through
research and development activities within
the framework of organisation. These top
executives are called Intrapreneurs.
• An Intrapreneur can become an entrepreneur
in future.
Entrepreneur and Entrepreneurship
Entrepreneur Entrepreneurship
Person Process
Visualizer Vision
Organizer Organization
Decision maker Decision Making
Innovator Innovation
Risk bearer Risk bearing
Motivator Motivation
Creator Creation
Leader Leadership
Manager Management
Initiator Initiation
Planner Planning
Technician Technology
Communicator Communication
Administrator Administration
Entrepreneurship:
Views of
Schumpeter,
Walker & Drucker.
Some theories of Entrepreneurship
• Schumpeter's views of Entrepreneurship
Austrian economist Joseph A. Schumpeter 's definition of entrepreneurship
placed an emphasis on innovation, such as:
• new products
• new production methods
• new markets
• new forms of organization
• Wealth is created when such innovation results in new demand. From this
viewpoint, one can define the function of the entrepreneur as one of
combining various input factors in an innovative manner to generate value
to the customer with the hope that this value will exceed the cost of the
input factors, thus generating superior returns that result in the creation
of wealth.
• “Entrepreneurship is destroying the old order and creating new ones.” He
talks about “Creative Destruction” whereby established ways of doing
things are destroyed by the creation of new and better ways of getting
things done.
Some theories of Entrepreneurship
• Francis A. Walker's views on Entrepreneurship
A true entrepreneur is one who is endowed with more than average
capacities in the task of organizing and coordinating the various
other factors of production. He is a pioneer, a captain of the
industry. The supply of such entrepreneurs is however quite limited.
An entrepreneur while starting an industrial venture performs one or
more of the following:
• Perceives opportunities for profitable investments.
• Explores the prospects of starting a manufacturing enterprise.
• Supplies technical know-how.
• Arranges initial capital & promises to make up the shortfalls in
capital.
• Offers personal guarantees to financial institutions.
• Obtains the necessary industrial licenses.
Some theories of Entrepreneurship
• Peter Drucker's views on Entrepreneurship
Entrepreneurship is not:
• Magic
• Mysterious
But it is a discipline and it can be learned.
Flexible
Entrepreneurs must be flexible in order to adapt to
changing trends, markets, technologies, rules, and
economic environments.
Independent
An entrepreneur’s desire for control and the ability to
make decisions often makes it difficult for them to work
in a controlled environment.
Some other traits of an Entrepreneur
• High need for achievement.
• Desire for independence.
• Initiative
• Sees and Acts on Opportunities
• Concern for High Quality Work and Output – Increased
Productivity.
• Commitment to Work Contract
• Efficiency & Effectiveness Oriented
• Systematic and organized planning
• Problem Solving
• Self Confidence
• Assertiveness – Negotiation with suppliers & customers
• Persuasive & Influential – Peers and stakeholders
• Inspirational - employees
• Effective Communicator – external & internal of organization.
Some other traits of an Entrepreneur
• Dare to dream.
• Prompt decision making.
• Curiosity for learning – well informed.
• Zealous/ Zestful.
• Always strive for excellence.
• Self-motivated.
• Believes in Team work.
• Persistent & Perseverance.
• Broader social vision (hands that truly care).
• Be Humble, be grounded: never let success go to your head. Don’t be
arrogant.
• Pragmatists.
• Change agent.
• Innovator.
• Progressive.
• Leads by example.
• Always sets standard/benchmark.
• Single-mindedness: Immense focus, persistence, courage & commitment.
Ten Deadly Mistakes of Entrepreneurship
Business entrepreneurship fail because of the following
reasons:
• Management Mistakes
• Lack of Experience
• Poor financial control
• Weak marketing efforts
• Failure to develop a strategic and effective plan
• Uncontrolled Growth
• Poor location
• Improper inventory control
• Incorrect or unsuitable pricing
• The inability of to move into entrepreneurial thinking mindset
from the previous secured permanent managerial position
held.
Why we need Entrepreneurs? Role of
Entrepreneurs in Economic Development