basic of entrepreneurship

Entrepreneurship Meaning , definationcharACTERISTICSskills andPROBLEMS

Entrepreneurship

MeaningEntrepreneurship is meant the function of seeking investment And production opportunity , organising an enterprise to undertake a new production process, raising capital , hiring labour , arranging the supply of raw materials , finding site , introducing a new technique and commodities , discovering new sources of raw materials and selecting top managers of day-to-day operations of the enterprise .

Entrepreneurship

DEFINATIONEntrepreneurship is the attempt to create value through recognition of business opportunity , the management of risk- taking opportunity , and through the communicative and management skills to mobilise human , financial and material resources necessary to bring a

project to fruition .

Entrepreneurship

Characteristics

Taking initiative and presence of responsibility

Internal locus of control

Calculated risk taking and risk seening

Ability of building the organisation and high achievement

Integrity and reliability

A function of social , political and economic structure

Entrepreneurship

Characteristics

Innovation

A function of group level pattern

Gap filling function

A function of status withdrawal

A function of social , political and economic structure

Entrepreneurship

A FUNTIONAL OF SOCIAL, POLITICAL AND ECAONOMIC STRUCTURE

Limitation structure

LabourStructure

Demand structure

Opportunitystructure

Problems of Entrepreneurship

Lack of viable concept

Lack of market familiarity

Lack of speed control

Lack of business knowhow

Complacency ,Non motivation

Social stigma

Entrepreneurship

EntrepreneurshipEntrepreneurship

Problems of Entrepreneurship

Time pressures , distractions

Legal constraints , regulation red tape

Protectionism monopoly

Job ”LOCK-INS” “ GOLDEN HANDCUFFS”

Patent inhibitions

Lack of technical skills

Lack of education ,attitude and trainning , and unfavorable family background

Lack of technical skills Lack of technical skills

Entrepreneurship

Taking initiative Problem solving skills Creative thinking Knowledge about market condition Ability of future forecasting and vision Capacity to work hard Team / organisation building skills Work taking ability from others Capacity to withstand social opposition Opportunity seeker and goal oriented Strong need for achievement Calculated risk taking and risk seeking Bringing inovative ideas

Skills Required for Entrepreneurship

Entrepreneurship devlopment in india -Sultan chand and sons (book)