Entrepreneurship

Entrepreneurship

MembersZubair Arshad(35)

M Ahsan(32) Moin Abbas(04)

M Awais(03)

NFC Institute of Engineering and Technology Multan

Session 2013-2017BSCS

First Used in 1723Origin loanword from FRENCH

Meaning is “One who undertake”Loosely meaning is “Those who get things done”

At first Trader, Merchant ,CraftsmenMiddle person in charge of architectural workToday Business Owner, Innovator ,Consultant.

History

Howerd StevensonDefined

The pursuit of opportunity without regard to resource Currently Controlled

The founding of new businesses is essence of entrepreneurial activity

Defined the term as a person who pay a certain price for a product and resell it at an uncertain price

W.Gibb Dyer

Cantillon

Entrepreneurship(Seeking) Opportunity(Arranging) Resources(Calculated) Risk

Defination

Entrepreneurship is process of creating somethingnew with devoting time, effort, money with considerable amount of calculated risk to get the resulting reward

Entrepreneurship is the process of designing a new business

Identifier Pursuer Creator Risk taker

Who is a Entrepreneur ?

A person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk

Entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes.

Famous EntrepreneurThomas Edison

Light Bulb

Steve Jobs

Bill GatesLarry Page

Dr Umar Saif

Intrapreneurship is the act of behaving like an entrepreneur while working within a large organization

intrapreneurship

internal

entrepreneurship

The term is derived from a combination of two words

intrapreneurship

An entrepreneur within a large firm intrapreneur

Dependent 

Do not raise Fund

Does not fully bear

Operates from within the organization 

Highly skilled and specialized.

Intrapreneur Independent 

Raises funds himself

Bears the risk 

Operates from out-side.

Might not highly skilled and specialized.

Entrepreneur

Difference between an Entrepreneur and an Intrapreneur:

Business Entrepreneur

Industrial Entrepreneur

Agricultural Entrepreneur

Trading Entrepreneur

Technical Entrepreneur

High Tech Entrepreneur

Motivated Entrepreneur

Type Of Entrepreneur

Stages in the life cycle of an entrepreneurial firm.

New Product innovation or service

New Process innovation or new method of production

Market innovation or Any new Market

Resource innovation

Organizational innovation

Entrepreneurial activities

Social Entrepreneurship solve social needs and problems

Business Entrepreneurship  Small Business Entrepreneurship Large Company Entrepreneurship

Techno Entrepreneurship Solve Techno needs and problems

Forms of Entrepreneurship

Creative

Responsible

Independent

Self-confident

Risk taker

characteristics of successful entrepreneurs

Self Employment

Employment for others

Prolonged career for next generation

Freedom to use own ideas, Innovation Creativity

Higher Profit

Independence

Satisfaction

Advantages of Entrepreneurship

To an Individual !

Provides larger Employment

Result in wider distribution of wealth

Mobilizes local resources ,skills and saving

Accelerates the pace of economic development

Stimulate innovation and efficience

To The Nation

Uncertainty of income

Risk of losing entire investment

Long Hours and Hardwork

Lower Quality of life until business is establish

High level of stress

Discourgement

Drawbacks of Entrepreneurship

Entrepreneurs are born, not made.

Entrepreneurs are gamblers

Money is the key to entrepreneurial success

You have to be young to be an entrepreneur

You must have a degree in business to be an entrepreneur.

Common myths about entrepreneurs