1_unit 1 Entrepreneur

8/12/2019 1_unit 1 Entrepreneur

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Entrepreneur

Acts uponOpportunities

Innovates

UndertakesRISK

RaisesCapital

TakesDecisions

Motivated

WelcomesChange

Plans

Any individual that sees and acts upon an opportunity.This includes introducing a new product or service,

identifying new markets, or putting a twist on an existing product, process or service.

Also, includes the raising of capital, taking the risk andcontrolling the new venture. Embodies creativity,

aggressiveness, and determination.By assembling various resources, s/he takes risks and

creates a venture from an idea, hobby, or simply a dream


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Entrepreneur Person who undertakes the risk of a new venture Derived from French words,

Entre meaning between Prendre meaning to take Originally used to describe people who take on the risk

between buyers and sellers or who undertake a task such asstarting a new venture

An entrepreneur assembles and integrates all

the resources needed, the business model,the strategy, and the risk bearing ability to

transform an invention into a viable business

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Definition(s) An entrepreneur is an agent who buys

factors of production at certain prices inorder to combine them into a productwith a view to selling it at uncertainprices in future

- Cantillon An economic agent who units all means

of production land of one, the labor of another and the capital of yet anotherand thus produces a product. By sellingthe product in the market he pays rent

on land, wages to labor, interest oncapital and what remains is his profit- J. B. Say

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Definition(s) Contd Person who is ingenious and creative in finding ways that add to

their own wealth, power and prestige (Bauman's 1990) Person conducting own business (Webster) Person who sets up business deals in order to make profits

(Collins Cobuild) Organizer of an economic venture, one who owns, organizes,

manages, and assumes the risks of the business(Chandrashekhar)

An Entrepreneur need not necessarily be an Inventor ( whocreates a new product or a process, previously unknown ), but heis the one who may be exploiting an invention to reform orrevolutionalise the pattern of production or commercialisation,by opening up of a new source of supply or new method or anew outlet.

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INVENTION

Means creating something new. Creative persons conceives an idea, work onit, collects the related information. Then test the idea to prove itsimportance. By passing through various stages of inventions, the creativepersons become inventors e.g., Edison invented the bulbs.Invention is creating not only products rather new ways or methods of production, new technologies, new processes, new designs etc, an inventionwhen made up open new markets. As consumers tastes and preferences goon changing day by day, they demand new things every time. They wantsomething different, which is not in use by others.

INNOVATION

is to put the ideas of inventors in action. Innovators transforms the ideas intouseful application and resultant is new products, methods procedures,services etc. innovation requires analytical ability to work. Entrepreneurs areinnovators, to exploit the ideas entrepreneurs makes the arrangement of materials, staff, site etc. and establish an enterprise. Entrepreneurs are giftedwith some competencies, talents and qualities which make them differentfrom others.

Invention and Innovation

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Who is an Entrepreneur ? E: xamine needs, wants, and problems to see how they can

improve the way needs and wants are met and problemsovercome.

N: arrow the possible opportunities to one specific "best"opportunity.

T: hink of innovative ideas and narrow them to the "best" idea. R: esearch the opportunity and idea thoroughly. E: nlist the best sources of advice and assistance that they can

find. P: lan their ventures (Project) and look for possible problems

that might arise.

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Who is an Entrepreneur ?

R : ank the risks and the possible rewards. E : valuate the risks and possible rewards and make their

decision to act or not to act. N: ever hang on to an idea, no matter how much they may

love it, if research shows it won't work. E : mploy the resources necessary for the venture to succeed. U: nderstand that they will have to work long and hard to

make their venture succeed. R : ealize a sense of satisfaction from their successful venturesand learn from their failures

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Traits (Characteristics) of Entrepreneurs

1. Mental Ability (Intelligence & Creativity)2. Technical Knowledge

3. Administrative & Organizing Skills4. Vision & Clarity5. Business Secrecy

6. Effective Communication7. Human Relations Ability8. PR Skills

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Must haves for Any Entrepreneur Great idea Leadership skills Strong Vision Good team spirit Determination to succeed A good mentor (Teacher) Accept failure as the stepping stone to success Belief in oneself

Passion and commitment Self-confident and self-reliant Goal-oriented Hardworking and energetic

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Characteristics of an Entrepreneur Innovation

Tries to develop new technology, products, markets byusing creativity Risk takingEntrepreneurs assumes risk & is prepared for losses andminimize risk through research, planning, and skilldevelopment.- Production risk- Market risk- Financial risk- Social risk

Decision making

- Takes decisions to launch the enterprise for production,purchase, sale of goods & services- engage human resource- procure raw materials, machines from suppliers- raise capital from various sources

- distribute the products through various channelsDr. Nirupma Gupta


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Characteristics of an Entrepreneur contd

PerceptiveEntrepreneurs view problems as opportunities andchallenges.

CuriousEntrepreneurs like to know how things work. They take thetime and initiative to pursue the unknown.

Imaginative

Entrepreneurs are creative. They imagine solutions toproblems that encourage them to create new products andgenerate ideas.

PersistentTrue entrepreneurs face bureaucracy, make mistakes,receive criticism, and deal with money, family, or stressproblems. But they still stick to their dreams of seeing theventure succeed.

LeadershipPlans, organises, directs and controls the activities of business.While leading the workers, he coordinates their

operations & motivates team. 12Dr. Nirupma Gupta


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Characteristics of an Entrepreneur contd Goal-setting

Entrepreneurs are motivated by the excitement of staringa new business. Once achieved, they seek out new goals orventures to try.

HardworkingEntrepreneurs need a great deal of energy to see aventure start and succeed. Yet they are not deterredby the long hours to achieve their goal.

Self-confidentEntrepreneurs believe in themselves. Their self-confidence takes care of any doubts they may have.

FlexibleEntrepreneurs must be flexible in order to adapt tochanging trends, markets, technologies, rules, andeconomic environments.

IndependentAn entrepreneurs desire for control and the ability to makedecisions often makes it difficult for them to work in acontrolled environment. Dr. Nirupma Gupta


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Characteristics of an Entrepreneur contd

Marketability Analyst

Entrepreneur need to ask himself the followingquestions about his/her product, service :

Does the target market want this product? Prove it. What is the competition? How much of the market do they

own already? How will I take it away from them? Am I competitively priced? Is this a short-term venture? How long will it last? What does I offer that no other product, service, or charity

offers? Why would a customer pay money for what Iprovide?

Profitability achieverTo expect a profit, an entrepreneur must ensure thatrevenue exceeds all costs. Listing expected revenue and

expenses can help to achieve this. 14Dr. Nirupma Gupta


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Functions of an Entrepreneur Innovation Risk Taking Organization As per Peter Kilby: -

1. Perceiving market opportunities2. Gaining command over scarce resources3. Purchasing inputs

4. Marketing products

5. Dealing with bureaucrats6. Managing human relations within the firm

7. Managing customer and supplier relations


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Functions of an Entrepreneur (Contd.) As per Peter Kilby (Contd.): -

8. Managing finance9. Managing production

10. Acquiring and overseeing assembly of the factory11. Industrial engineering

12. Upgrading process and product13. Introducing new production techniques & products


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Functions of an Entrepreneur Planning of the project: He is the organizer to conceive the idea of

launching the project and to program the structure of business. Management : The entrepreneur is also responsible for the management

of business. He tries to have a least cost combination of factors of production.

To Face Risks : He faces uncertainly and bears risks in his business

uncertainly comprising those risks against which it is not possible toinsure. He also faces the risk of other producers may enter the market.

Distribution of Rewards : He is responsible of distributing the rewards toall factors of production. He pays the reward in the shape of rent, wage,and interest and bears the risk of profit or loss himself.

Sale of Products : An entrepreneur is also responsible of marketing,advertising. He wants to maximize his profits by selling his product in themarket.

Scale of Production : He decides the scale of business in according with theprovision of capital. Then, he takes the decision of what, where and how

to produce goods. Dr. Nirupma Gupta 17


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Functions of an Entrepreneur Identifying entrepreneurial opportunity There are many opportunities in

the world of business. These are based on human needs like food, fashion,education, etc., which are constantly changing. These opportunities are notrealised by common man, but an entrepreneur senses the opportunitiesfaster than others do. An entrepreneur therefore, has to keep his eyes andears open and require imagination, creativity and informativeness.

Turning ideas into action An entrepreneur should be capable of turning hisideas into reality. He collects information regarding the ideas, products,practices to suit the demand in the market. Further steps are taken toachieve the goals in the light of the information collected.

Feasibility study The entrepreneur conducts studies to assess the market

feasibility of the proposed product or services. He anticipates problems andassesses quantity, quality, cost and sources of inputs required to run theenterprise. Such a blue print of all the activities is termed as a 'business plan'or a 'project report'.

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Functions of an Entrepreneur Resourcing The entrepreneur needs various resources in terms of money,

machine, material, and men to running the enterprise successfully. Anessential function of an entrepreneur is to ensure the availability of all theseresources.

Setting up of the Enterprise For setting up an enterprise the entrepreneurmay need to fulfill some legal formalities. He also tries to find out a suitablelocation, design the premises, install machinery and do many other things.

Managing the enterprise One of the important function of an entrepreneuris to run the enterprise. He has to manage men, material, finance and organizeproduction of goods and services. He has to market each product and service,after ensuring appropriate returns (profits) of the investment. Only a properlymanaged organisation yields desired results.

Growth and Development Once the enterprise achieves its desired results,the entrepreneur has to explore another higher goal for its proper growth anddevelopment. The entrepreneur is not satisfied only with achieving a set goalbut constantly strives for achieving excellence.



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Entrepreneur Process

Motivationto make adifference

Spotting &Exploiting

Opportunities

Finding therequired

resources

Usingnetworks

extensively

OvercomingObstacles

Controllingthe

Business

StartGettingGoodreturn

Showingdeterminationin the face of

adversity

ManagingRisk

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Myths About Entrepreneur

CommonMyths

Entrepreneurs areborn not made

Entrepreneurs aregamblers

Entrepreneurs aremotivated primarily

by money

Entrepreneurs shouldbe young and

energetic

Entrepreneurs lovethe spotlight


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Myths About Entrepreneur contd..Myth 1- Entrepreneurs are born not made

False. Although there are correlations between certain types of behaviour and psychological traits and entrepreneurship, itseems that as many successful entrepreneurs learn these skillsand acquire these attributes as are born with them.

Myth 2-Entrepreneurs are gamblersThey are not gamblers. Instead, entrepreneurs know when totake risks, whether to try again, or cut their losses and moveon.

Myth 3- Entrepreneurs are motivated primarily by money False. Most entrepreneurs are motivated by desire to work for

themselves, and a passion for solving problems-particularlydifficult human problems.



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Myths About Entrepreneur contd..Myth 4- Entrepreneurs should be young and energetic False. The average age of a first-time entrepreneur starting a

technology business is 39. And since this is an average, thatmeans just as many start-up founders are older as are younger.

Myth 5-Entrepreneurs love the spotlight

Some do love the spotlight but for every famous entrepreneur,we can name ,there are hundreds, that we cant name becausemany of these people are working on proprietary products orservices and would prefer to be out of the spotlight.

Entrepreneurs are primarily motivated by passion for thebusiness and not fame and fortune



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Entrepreneurship refers to a process of actions anentrepreneur undertake to establish his business.

It is a creative and innovative response to the environmentand an ability to recognize, initiate and exploit an economic

opportunity . Entrepreneurship is the ability to foresee or ascertain the

various opportunities related with investment and then toevaluate these various opportunities and forming enterprise,

the purpose of which is to give the maximum contribution inthe nationals growth. When we combine these activitiesperformed by entrepreneurs the resultant is known asentrepreneurship.

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Process of identifying opportunities in the market place,

marshalling the resources required to pursue theseopportunities and investing the resources required topursue these opportunities for long term gains.

Creating wealth by bringing together resources in new waysto start and operate an enterprise.

Entrepreneurship is the purposeful activity of an individual or a group of associated individuals undertaken to initiate,maintain and aggrandize(increase) profit by productionand/or distribution of economic goods and services.

- Arthor H. Cole

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Concept (Contd.) Entrepreneurship is meant the function of seeking investment

and production opportunity, organizing an enterprise toundertake a new production process, raising capital, hiringlabor, arranging the supply of raw materials, finding site,introducing a new technique, discovering new sources of rawmaterials and selecting top managers or day to day operations

of the enterprise.- B. Higgings

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Nature & Characteristics1. Economic Activity

2. Creative Activity3. Purposeful (Goal Oriented)

4. Risk-bearing Function

5. Organizing Function6. Gap Filling Function

7. Dynamic Process

8. Innovative Function9. Managerial function

10. Decision making function

11. Function of high achievement 27Dr. Nirupma Gupta

N & Ch i i


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Nature & Characteristics

1. Economic activity .Entrepreneurship is an economic activity as it is concerned with

creation and operation of an enterprise and earning more andmore profits.

2. Creative activity- It is a creative response to environment byrecognizing the need for change and initiating it.

3. Goal oriented.Entrepreneurship is a goal oriented activity. It is undertaken toachieve the predetermined goals of the entrepreneur.

4. Risk bearing.

Risk bearing is also an important function of entrepreneurship.Prof knight in his theory RISK UNCERTAINTY ANDPROFITSDEFINES there are two types of risk;

Foreseeable risk is the risk which can be insured and capable of being calculated.

Unforeseeable risk.- is the risk which cant be insured and it istough to calculate it. 28Dr. Nirupma Gupta


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RISK

FORESEEABLE RISKEARTHQUAKE

THEFT

FLOODS

UNFORESEEABLE RISKBUSINESS RISK

GOVT POLICY RISKCOMPETATIVE RISK

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Nature & Characteristics5. Organizing function- entrepreneurship can also be defined as an

organizing function. Organization means organizing all the factorsof production and directing them towards the attainment of thegoal of organization.

6. Resource Mobilization: Gap filling is the most significant featureof entrepreneurship. The job of entrepreneur is to fill the gap or

make up the deficiencies which always exist in the need andproduction function. He has to perform the functions of inputcompleting and gap filling.

7. Dynamic Process: Entrepreneurs thrive on the changingenvironment which brings new opportunities for business.Flexibility is the hallmark of a successful entrepreneur.

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8. Innovative Function: Innovation is an important function of

entrepreneurship . Innovation means doing something new ordoing old things in new or different way . It is the introductionof new methods and ways of doing the work. An entrepreneurshould be innovative.According to Drucker , innovation is the means by whichentrepreneur either creates new wealth producing resourcesor endows existing resources with new products, services,ideas, and information

9. Management skills . Entrepreneur must posses managerialskills like motivation and leadership. Motivation is inner urge

that emerges the behaviour towards achievement of goals. Itcan be positive and negative, financial and non-financial andleadership is to direct the people to do what you want yourmen to do.


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10. Decision Making: Entrepreneur takes decisions regarding

activities of enterprise. He decides about the type of business to be done and the ways of doing it. An entrepreneur has to makedecisions to take actions with unknown and unpredictableresults.

11. Function of High Achievement: People for high need for achievement are more likely to succeed as entrepreneur.


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OBJECTIVES OF ENTREPRENEURSHIP


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OBJECTIVES OF ENTREPRENEURSHIP

Economic

Objectives

ProfitEarning

Production

of Goods

CreatingMarket

TechnologicalImprovement

Human

Objectives

Welfare ofEmployees

Satisfaction

ofConsumers

Social

Objectives

Availabilityof Goods

Supply of

Quality goods

Co-Operationwith

government

Creation of MoreEmployment

Utilising NaturalResources Properly

Personal

Objective

Growth

Survival

EarningPrestige

National

Objectives

Helping Nationalefforts

Development ofSmall

Entrepreneur

National SelfSufficiency

Development ofSkilled Personal

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Entrepreneurship Significance Balanced regional development Capital formation Improvement in per capita income Generation of employment Improvement in living standards Provides self sufficiency Economic independence Backward and forward linkages

Contributes towards R&D Creates wealth for nation and individuals Challenging opportunity for people

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The role of Entrepreneurship in development of an economy in discussed fromthe following points;1. Entrepreneurship and balanced regional development.

Imbalanced regional development means a few sectors of an economy aredeveloped and others remained undeveloped. This is a major problem facedby an under developing country. These sectors remain backward becauseentrepreneurs are not willing to invest in these sectors due to lack of availability of infrastructural facilities. It is the government who canencourage entrepreneurs to invest in these sectors by giving then subsidiesand concessions. So the balanced regional development can be ensuredwith the help of entrepreneurs.

2 Increase in per capita income.due to over population in developing countries per capita income is low as

compared to the other developed nations. Per capita income can beincreased either by reducing population or by increasing national income.Entrepreneurs play an important role in the growth of national income byutilizing the resources land, labour and capital. As they are innovators theycan device new methods and techniques with minimum of cost andmaximum profits which leads to increase in national income , increase inper capita income. 35Dr. Nirupma Gupta


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3.Generation of employment .Entrepreneurs offer solution of the grave unemployment problemconfronting the economy. Entrepreneurs firstly generate selfemployment and secondly be employing others in their enterprise ,solve unemployment problem of others. Small scale units need lessinvestment and absorb a large number of unemployed persons.

4.Raise standards of living .Entrepreneurship help in rising the standard of living of people of thecountry. As entrepreneurs invest in small scale and large scale industrieswhich leads to industrial growth in the country and industrial growth in

turn leads to availability of abundance of goods for the consumers. Assupply of goods increase it will lower the price of commodities becomeaccessible to every walk of people in order developed countries andimproves their standard of living.

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5. Self Sufficiency

Self sufficiency means a stage where a country is not dependent onworld economy for its needs. Tools of self sufficiency are exportpromotion and import substitution. With the help of developedentrepreneurial structure a nation can increase its production. When

the production of goods in the country is increased, the surplus whichwill left over after satisfying the domestic consumption can beexported, and with this we can earn foreign currency.

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Entrepreneur vs. Entrepreneurship

Entrepreneur Entrepreneurship Refers to a person Visualizer Organizer Initiator Innovator Imitator Motivator Planner Decision maker Risk bearer

Refers to a process Vision Organization Initiative Innovation Imitation Motivation Planning Decision making Risk-bearing

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Barriers to Entrepreneurship

Lack of a viable concept Lack of market knowledge Lack of technical skills Lack of seed capital Lack of business know-how Complacency- lack of motivation Social stigma Time presences and distractions Legal constraints and regulations, etc.

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Entrepreneurship vs. ManagementBasis Entrepreneur Manager

Motive Initiate a venture Render services

Status Owner Servant

Risk bearing Bears Does not bear

Rewards Profit Salary

Innovation Change-agent Implements changes

Qualifications No minimum qualification Management theory & practice

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ENTREPRENEURSHIP THEORIES

Economic Theory

Sociological TheoryPsychological Theory

McClellands Theory of Achievement Motivation

Innovation Theory

Kakinada Experiment

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Entrepreneurship Theories

1. Economic Theory Entrepreneurship and economic growth take place

when the economic conditions are favorable

Economic incentives are the main motivators forentrepreneurial activities

Economic incentives include taxation policy, industrialpolicy, sources of finance and raw material,

infrastructure availability, investment and marketingopportunities, access to information about marketconditions, technology etc.

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Economic Theory contd

Capital

Availability of capital facilitates for the entrepreneur to bringtogether the land of one, machine of another and rawmaterial of yet another to combine them to produce goods.Capital is therefore, regarded as lubricant to the process ofproduction.

Labor

Easy availability of right type of workers also effectentrepreneurship

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Economic Theory contd..

Raw materialIt is one of the basic ingredients required for production.Shortage of raw material can adversely affect entrepreneurialenvironment.

MarketThe role and importance of market and marketing is veryimportant for the growth of entrepreneurship. In moderncompetitive world no entrepreneur can think of surviving inthe absence of latest knowledge about market and variousmarketing techniques. The potential of the market constitutesthe major determinant of probable rewards fromentrepreneurial function

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Economic Theory contd..

InfrastructureExpansion of entrepreneurship presupposes properlydeveloped communication and transportation facilities. Itnot only helps to enlarge the market, but expand thehorizons of business too.

Apart from the above factors, institutions like trade/business associations, business schools, libraries, etc. alsomake valuable contribution towards promoting and

sustaining entrepreneurship in the economy. You cangather all the information you want from these bodies. Theyalso act as a forum for communication and joint action.

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2. Sociological Theory Entrepreneurship is likely to get a boost in a

particular social culture Societys values, religious beliefs, customs, taboos

influence the behavior of individuals in a society. The entrepreneur is a role performer according to

the role expectations by the society

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Sociological Theory contdThe main components of social environment are as follows:

1. Caste FactorCaste system among the Hindus in India has divided thepopulation into four division. The Brahmana (priest), theKshatriya (warrior), the Vaishya (trade) and the Shudra (artisan).Commercial activities were the monopoly of the Vaishyas.Members of the three other Hindu Varnas did not becomeinterested in trade and commence.

2. Family Background

This factor includes size of family, type of family and economicstatus of family. In a study by Hadimani, it has been revealed thatZamindar family helped to gain access to political power andexhibit higher level of entrepreneurship.Background of a family in manufacturing provided a source of industrial entrepreneurship. 47Dr. Nirupma Gupta


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Sociological Theory contd

3. Attitude of the SocietyCertain societies encourage innovations and novelties, and thusapprove entrepreneurs actions and rewards like profits. Certainothers do not tolerate changes and in such circumstances,entrepreneurship cannot take root and grow.

4. Cultural Value

Entrepreneurial growth requires proper motives like profit-making, acquisition of prestige and attainment of social status.The strength of these motives depends upon the culture of thesociety. If the culture is economically or monetarily oriented,entrepreneurship would be applauded and praised; wealthaccumulation as a way of life would be appreciated. In the lessdeveloped countries, people are not economically motivated.Monetary incentives have relatively less attraction. 48Dr. Nirupma Gupta


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3. Psychological Theory Many entrepreneurial theorists have propounded

theories of entrepreneurship that concentrateespecially upon psychological factors .

Entrepreneurship gets a boost when society hassufficient supply of individuals with necessarypsychological characteristics

The psychological characteristics include need for highachievement, a vision or foresight, ability to faceopposition

These characteristics are formed during theindividuals upbringing which stress on standards of excellence, self reliance and low father dominance.

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4. Theory of Achievement Motivation by McCllelan d According to McClelland, a person has three types

of needs at any given time, which are:

Need for achievement (get success with ones ownefforts)

Need for power (to dominate, influence others) Need for affiliation (maintain friendly relations with

others)

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Theory of Achievement Motivation by McClleland contd.


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Theory of Achievement Motivation by McClleland contd McClelland identified 2 characteristics of

entrepreneurship Doing things in a new and better way Decision making under uncertainty

He stressed that people with high achievementorientation (need to succeed) were more likely tobecome entrepreneurs i.e. the need forachievement is the highest for entrepreneurs.People with high need-achievement are distinctivein several ways. They like to take risks and theserisks stimulate them to greater effort.

Such people are not influenced by money or

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OthersThomas Begley and David P. Boyd studied in detail thepsychological roots of entrepreneurship in the mid-1980s. Theycame to the conclusion that entrepreneurial attitudes based on

psychological considerations have five dimensions:First came need- achievement as described by McClelland. In allstudies of successful entrepreneurs a high achievementorientation is invariably present.The second dimension that Begley and Boyd call locus of control . This means that the entrepreneur follows the idea thathe can control his own life and is not influenced by factors likeluck, fate and so on.

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Entrepreneurship Theories The third dimension is the willingness to take risks . These

two researchers have come to the conclusion thatentrepreneurs who take moderate risks earn higher returnson their assets than those who take no risks at all or whotake extravagant risks.

Tolerance is the next dimension of this study. Very fewdecisions are made with complete information. So allbusiness executives must, have a certain amount oftolerance for ambiguity.

Finally, here is what psychologists call Type A behavior.This is nothing but a chronic, incessant struggle to achievemore and more in less and less of time Entrepreneurs arecharacterize by the presence of Type A behavior in alltheir endeavors

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E t hi Th i


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Entrepreneurship Theories5. Entrepreneurship Innovation Theory

Theory by Joseph Schumpeter who believes that entrepreneur helpsthe process of development in an economy

He says that an entrepreneur is the one who is innovative, creativeand has a foresight

According to him, innovation occurs when the entrepreneur Introduces a new product Introduces a new production method Opens up a new market Finds out a new source of raw material supply Introduces new organization in any industry

The theory emphasizes on innovation, ignoring the risk taking and

organizing abilities of an entrepreneur Schumpeters entrepreneur is a large scale businessman, who israrely found in developing countries, where entrepreneurs are smallscale businessmen who need to imitate rather than innovate

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Kakinada Experiment contd Kakinada Experiment

Conclusions of the experiment: Traditional beliefs do not inhibit an entrepreneur Suitable training can provide necessary motivation to an

entrepreneur The achievement motivation had a positive impact on the

performance of the participants It was the Kakinada experiment that made people

realize the importance of Entrepreneurship

Development Programmes to induce motivationand competence in young, prospective entrepreneursand made them understand that entrepreneurs arenot only born but can be made also.

1_unit 1 Entrepreneur

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