Role and Importance of Indian Economy
Role and Importance of Indian Economy
The word "entrepreneur" is derived from the French word entreprendre, which means 'to undertake'. This refers to those who undertake" the risk of new enterprises. An enterprise is created by an entrepreneur. The process of creation is called "entrepreneurship".
Entrepreneur is the agent who purchased the means of production for combination into marketable product.
The main functions of an entrepreneur are as follows :
(a) Innovations.
(b) Risk and uncertainty bearing.
(c) Planning.
(d) Organisation building.
(e) Decision-making.
() Leadership.
. Successful entrepreneurs have following common qualities :
(a) Vision,
(c) Goal oriented,
(e) Risk taker,
(g) Innovation,
(i) Opportunity seeker,
The important features of an entrepreneur are as
(b) Self-confidence
(d) Motivation,
() Flexibility,
(h) Independence,
1 Team building skills. follows:
(a) Taking initiative.
(b) Solving problems.
(c) Managing autonomously.
(d) Achievement, orientation and ambition. (e) Self-confidence and self esteem. () Hard working.
Innovating entrepreneur is one who introduces new goods by introducing new methods of production and discovers new markets.
. Fabian entrepreneurs are characterised by a very great caution and scepticism in experimenting any change in their enterprises. This category of entrepreneurs are not much interested in taking risk and generally follows the market left by their predecessors.
This category of entrepreneur shows readiness to adopt successful innovation inaugurated by innovating entreprencur.
These are those entrepreneurs who work alone. This condition generally arises in the beginning of the enterprise.
Technologist entrepreneur consists of entrepreneurs who may enter the business to exploit the inventions and discoveries commercially. So this class of entrepreneurs is also called inventor entrepreneurs.
. The characteristics of entrepreneurship are as follows
(a) It is an economic activity.
(b) It is a creative activity.
(c) It is a risk bearing function.
(d) It is a dynamic process.
(e) It is an inovative function. () It is a managerial skill and leadership function.
The various factors affecting entrepreneurial growth are as follow
(a) Economic Factor:
Capital, labour, raw material and market.
(b) Non-Economic Factor:
Social and psychological factors.
These entrepreneurs are motivated by their desire for self-fulfilment and to achieve or prove their excellence in job performance. Their strength lies in their creative abilities, which leads them to setup innovative business ventures
Business entrepreneurs are individual who conceive an idea for a new product or service and then creates a business to materialise their idea into reality. They top both production and in their search to develop a new business opportunity. marketing resour
Agricultural entrepreneurs are those entrepreneurs who undertake such agricultural activities as rasing and marketing of crops and fertilizers and other inputs of agriculture. They are motivated to raise the productivity of agriculture through mechanism, irrigation and application of technologies for dry agriculture.
A professional entrepreneur is a person who is interested in establishing a business but does not have interest in managing or operating it, once it is established.
The fundamental differences between entrepreneur and entrepreneurship are as follows:
(a) Entrepreneur is a visualiser, on the other hand entrepreneurship is related to a specific UOISIA
(b) Entrepreneur is an organiser and entrepreneurship is a part of organisational activity.
(c) Entrepreneur is the one who think first and entrepreneurship is converting thoughts into initiative
This category of entrepreneur
shows readiness to adopt successful innovation inaugurated by innovating entreprencur.
These are those entrepreneurs
who work alone. This condition generally arises in the beginning of the enterprise.
Technologist entrepreneur consists of entrepreneurs who may enter the business to exploit the inventions and discoveries commercially. So this class of entrepreneurs is also called inventor entrepreneurs.
The characteristics of entrepreneurship are as follows
(a) It is an economic activity.
(b) It is a creative activity.
(c) It is a risk bearing function.
(d) It is a dynamic process.
(e) It is an inovative function.
() It is a managerial skill and leadership function.
The various factors affecting entrepreneurial growth are as follow
(a) Economic Factor: Capital, labour, raw material and market.
(b) Non-Economic Factor: Social and psychological factors.
.
These entrepreneurs are motivated by their desire for self-fulfilment and to achieve or prove their excellence in job performance. Their strength lies in their creative abilities, which leads them to setup innovative business ventures.
Business entrepreneurs are individual who conceive an idea for a new product or service and then creates a business to materialise their idea into reality. They top both production and in their search to develop a new business opportunity. marketing resour
Agricultural entrepreneurs are those entrepreneurs who undertake such agricultural activities as rasing and marketing of crops and fertilizers and other inputs of agriculture. They are motivated to raise the productivity of agriculture through mechanism, irrigation and application of technologies for dry agriculture.
A professional entrepreneur is a person who is interested in establishing a business but does not have interest in managing or operating it, once it is established.
The fundamental differences between entrepreneur and entrepreneurship are as follows:
(a) is a visualiser, on the other hand entrepreneurship is related to a specific UOISIA
(b) Entrepreneur is an organiser and entrepreneurship is a part of organisational activity.
(c) Entrepreneur is the one who think first and entrepreneurship is converting thoughts into initiative
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