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Entrepreneurship.pdf

TENZING LHADON
TENZING LHADON

The document discusses entrepreneurship and provides definitions, examples of famous entrepreneurs, qualities of entrepreneurs, and types of entrepreneurial careers. It defines an entrepreneur as someone who establishes a business to meet customer needs and generate profits. Examples given include Bill Gates, Mark Zuckerberg, and Elon Musk. Qualities of successful entrepreneurs include being goal-oriented, hard-working, risk-taking, and having a clear vision. Common types of entrepreneurial careers mentioned are starting a service business, manufacturing business, franchise, or working from home small business.

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UNIT 4 Entrepreneurship
Entrepreneur: Entrepreneur is a French word which means to undertake, to pursue opportunities, to fulfill needs and wants of the people through innovation and starting business.
An entrepreneur is a person who establishes a business or a venture that generates some value to the customer and proves to be profitable for him/her. An entrepreneur starts a new business with an eye on what he identifies as an unmet need in the market and works to fulfill.
Some famous entrepreneur in world Bill Gates- Microsoft Mark Zucker Berg- Facebook Elon Musk- Space X, Tesla and etc. Jeff Bezos- Amazon.com Falguini Nayar- Nykaa Vandana Luthra- VLCC Ritesh Agarwal-OYO Some famous entrepreneur in India
Entrepreneurship: Entrepreneurship can be described as starting a business by using the resources available to a person. Entrepreneurship is not only about self- employability but also about completion of life cycle society. It accelerate the economic growth of the society as it enables wealth creation for the entrepreneur himself and the people who are employed in the enterprise.
QUALITIES OF ENTREPRENEURS: clear with their targets work hard from the beginning and then for extra courageous and are always ready to take risks have clear vision , prepare their next move problem solvers, conceive new ideas, achieve innovative solutions. good communication updated with the current scenario of the market dedicated and passionate towards their work.
FUNCTIONS OF ENTREPRENEUR: Create a new idea for product or service: Research: Managing the business: Organizing resources: Making decisions: Execution after research and organizing resources: Public relations: Statuary obligation: Divide income:
IMPORTANCE OF ENTREPRENEUR: By establishing the business entity, entrepreneurs invest their own resources and attract capital from investors and public. They are known as job creators. They provide employability to a number of people. This is why the government of India has taken initiatives such as Startup India to promote and support new startups as they increase the growth in GDP and per capita income and complete the need of consumers.
MYTHS ABOUT ENTREPRENEURSHIP Every business idea needs to be very unique and special: Very one is not born Entrepreneurs: No need for Huge Money for start up Can make instant Profit: Not only Good Idea can work. Cannot get luxuries future without future preparation. Only young can do the entrepreneurship
ENTREPRENEURSHIP AS A CAREER OPTION Service business: a service business is a company that provides work performed in an expert manner by an individual or a team. It can be Banking, Consulting, Cleaning, Education, Insurance, Transportation Services and many more. Manufacturing Business: manufacturing business buys raw material with the intention of using them as ingredients in the making of a new product. It combines raw material and labour in its production. The manufactured good will then be sold to customers. Handware making, furniture making, etc. are few examples. Sole Proprietorship Business: The most common type of business found in the india is sole proprietorship. All businesses we see around like the local grocer, carpenter, shopkeeper, etc. are sole proprietorship. It is an ideal choice to run a small scale business.
Buying a Franchise: A franchise is an agreement between a small business owner(franchisee) and the parent company(franchiser). The parent company gives the right to sell companys product and often provides support like advertisement and supplier relationship in return for a franchise fee and some percent of the profit. Copying an Existing business: Identify a good going local business started by someone else. One can also take help from internet. After researching on it thoroughly and planning for the execution establish the business. Make sure the business does not violate someone elses trademark, copyrights or to her protected intellectual property. Work from home business: Many small business ideas can be launched form home only. This can be anything from opening a boutique to writing blogs.
Entrepreneurship.pdf
Entrepreneurship.pdf
Entrepreneurship.pdf

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Entrepreneurship.pdf

  • 2. Entrepreneur: Entrepreneur is a French word which means to undertake, to pursue opportunities, to fulfill needs and wants of the people through innovation and starting business.
  • 3. An entrepreneur is a person who establishes a business or a venture that generates some value to the customer and proves to be profitable for him/her. An entrepreneur starts a new business with an eye on what he identifies as an unmet need in the market and works to fulfill.
  • 4. Some famous entrepreneur in world Bill Gates- Microsoft Mark Zucker Berg- Facebook Elon Musk- Space X, Tesla and etc. Jeff Bezos- Amazon.com Falguini Nayar- Nykaa Vandana Luthra- VLCC Ritesh Agarwal-OYO Some famous entrepreneur in India
  • 5. Entrepreneurship: Entrepreneurship can be described as starting a business by using the resources available to a person. Entrepreneurship is not only about self- employability but also about completion of life cycle society. It accelerate the economic growth of the society as it enables wealth creation for the entrepreneur himself and the people who are employed in the enterprise.
  • 6. QUALITIES OF ENTREPRENEURS: clear with their targets work hard from the beginning and then for extra courageous and are always ready to take risks have clear vision , prepare their next move problem solvers, conceive new ideas, achieve innovative solutions. good communication updated with the current scenario of the market dedicated and passionate towards their work.
  • 7. FUNCTIONS OF ENTREPRENEUR: Create a new idea for product or service: Research: Managing the business: Organizing resources: Making decisions: Execution after research and organizing resources: Public relations: Statuary obligation: Divide income:
  • 8. IMPORTANCE OF ENTREPRENEUR: By establishing the business entity, entrepreneurs invest their own resources and attract capital from investors and public. They are known as job creators. They provide employability to a number of people. This is why the government of India has taken initiatives such as Startup India to promote and support new startups as they increase the growth in GDP and per capita income and complete the need of consumers.
  • 9. MYTHS ABOUT ENTREPRENEURSHIP Every business idea needs to be very unique and special: Very one is not born Entrepreneurs: No need for Huge Money for start up Can make instant Profit: Not only Good Idea can work. Cannot get luxuries future without future preparation. Only young can do the entrepreneurship
  • 10. ENTREPRENEURSHIP AS A CAREER OPTION Service business: a service business is a company that provides work performed in an expert manner by an individual or a team. It can be Banking, Consulting, Cleaning, Education, Insurance, Transportation Services and many more. Manufacturing Business: manufacturing business buys raw material with the intention of using them as ingredients in the making of a new product. It combines raw material and labour in its production. The manufactured good will then be sold to customers. Handware making, furniture making, etc. are few examples. Sole Proprietorship Business: The most common type of business found in the india is sole proprietorship. All businesses we see around like the local grocer, carpenter, shopkeeper, etc. are sole proprietorship. It is an ideal choice to run a small scale business.
  • 11. Buying a Franchise: A franchise is an agreement between a small business owner(franchisee) and the parent company(franchiser). The parent company gives the right to sell companys product and often provides support like advertisement and supplier relationship in return for a franchise fee and some percent of the profit. Copying an Existing business: Identify a good going local business started by someone else. One can also take help from internet. After researching on it thoroughly and planning for the execution establish the business. Make sure the business does not violate someone elses trademark, copyrights or to her protected intellectual property. Work from home business: Many small business ideas can be launched form home only. This can be anything from opening a boutique to writing blogs.