1. Traditional vs. Entrepreneurial Career Paths
High School
High School
University
University
Practical Experience
Big Company Management Training
Well Managed, High Growth Firm
Startup Venture
Growth/ Another Startup?
Retire
Venture Capital or Bank Loan
Never really retire

2. WHAT IS ECONOMIC
GROWTH?
ECONOMIC GROWTH
MEANS UPWARD
CHANGE WHEREBY PER
CAPITA INCOME
INCREASES OVER A
LONG PERIOD OF TIME.

3. WHAT CAUSES ECONOMIC
GROWTH?
Economic growth is effect,
entrepreneur is the cause.
Entrepreneurs explore opportunities,
convert ideas into viable business
proposition and provide new
products and services to the society
by bringing together and combining
various factors of production. They
change life style of the people.

4. ENTREPRENEURSHIP
Entrepreneurship is a
purposeful activity of an
individual or a group of
associated individuals,
undertaken to initiate, maintain
or aggrandise profit by
production or distribution of
economic goods.

5. ENTREPRENEURSHIP
Entrepreneurship is the attempt to
create value through recognition of
business opportunity, the
management of risk appropriate to
opportunity and through the
communicative and management
skills to mobilise human, financial
and material resources necessary
to bring a project to fruition.

6. ENTREPRENEURSHIP
Entrepreneurship is the
ability to create and build a
vision from practically
nothing. It is a dynamic
process of creating
incremental wealth.

7. “Who” is the
Entrepreneur?
Characteristics and
Types, Nature
versus Nurture

8. ENTREPRENEUR
“It is not the critic who counts, nor the observer who watches
from a safe distance. Wealth is created only by doers in the
arena who are marred with dirt, dust, blood, and sweat. These
are producers who strike out on their own, who know high
highs and low lows, great devotions, and who overextend
themselves for worthwhile causes. Without exceptions, they
fail more than they succeed and appreciate this reality even
before venturing out on their own. But when these producers
of wealth fail, they at least fail with style and grace, and their
gut soon recognizes that failure is only a resting place, not a
place in which to spend a lifetime. Their places will never be
with those nameless souls who know neither victory nor
defeat, who receive weekly paychecks regardless of their
week’s performance, who are hired hands in the labour in
someone else’s garden. These doers are producers and no
matter what their lot is at any given moment, they will never
take a place beside the takers, for theirs is a unique place,
alone, under the sun. They are entrepreneurs!”
JOSEPH R MANCUSO

9. Entrepreneurial Individual
 Has concept, vision, dream
 Adapts concept to reflect realities in
environment, scans environment
 Assesses risks versus rewards
 Mobilizes resources
 Able to convert dream into products
and people within an organizational
context
 Able to champion the concept to a
wide range of publics and partners
 Persevere in overcoming obstacles
 Optimizes profits

10. Who is an entrepreneur
An entrepreneur is a person who
takes risk of setting up his/her
own venture for perceived
rewards.
He is a person who initiates the
idea, formulates a plan, organizes
resources and puts the plan into
action to achieve his goal.

11. Essential qualities of an
entrepreneurs
 Need for achievement: Strong
desire to be a winner
 Perseverance: Quality to stick to it.
 Moderate risk taker: Prefer a middle
of the road strategy when they analyze a
risk problem
 Ability
to find and explore
opportunity: Alert to opportunities and
seize and convert them to their
advantages

12.  Analytical ability: Unaffected by
personal likes and dislikes while
approaching problems
 Using feedback: Consider it important
to know how they are doing, when they
work on the goal or a task.
 Facing uncertainty: Welcome
tackling an unfamiliar but interesting
situation
 Independence: Have a dislike for
working for other
 Flexibilities: Flexible in their decisions
 Planner: Thinks ahead, plan for future
and then work to make it come true.

13.  Interpersonal skills: They are
comfortable while dealing with people at
all level
 Motivator: Can influence others
 Stress takers: They are capable of
working for long hours and tackling
different problems at the same time
 Positive self concepts: They are
aware of themselves
 Orientation to future: They have
high level of future orientation. They do
not allow the past to obsess them.

14. The Entrepreneur’s Dream
The entrepreneur’s dream is almost
a kind of madness, and it is almost
as isolating. When you see
something new, your vision usually
isn’t shared by others. The
difference between a crazy person
and the successful entrepreneur is
that the latter can convince others to
share the vision. That force of will is
fundamental to entrepreneurship.

15. Categories of
Entrepreneurs
 Craftsmen
– Narrow in education/training
 Opportunists
– Breadth in education/training, wide
experiences
 Technical entrepreneur
– Come up with own inventions and
product modifications, work experience
in technology environment, more
formal technical education
– Make greater use of teams

16. Categories of
Entrepreneurs
1. INNOVATORS
2. IMITATORS
3. FABIANS
4. DRONES

17. Entrepreneurial
Culture
Entrepreneurial Culture
Implies A Set Of Shared
Values, Norms And Traits
That Are Conducive To The
Growth Of Entrepreneurship

18. Factors Shaping
Entrepreneurial Response
i. Socio-Cultural Values, Religious
Influences
ii. Socio-Political Structure and
Condition
iii. Economic Infrastructure and
social Overheads; Communication,
Education, Credit etc.
iv. National Goals and governmental
policies
v. Demonstration Effects, Contacts
and reference Groups

19. Entrepreneurial Personality -
Psychological
 1. Motivation – driven by range of factors
- Necessity (survival)
- Opportunity (proactivity)
- Dissatisfaction (can’t stand job)
- Curiosity (What if…?)
- Material gain (We could make a killing…)
 Achievement oriented more than anything
else
 Driven by the task, challenge, opportunity
 Money as a by-product, but scorecard
 2. Strong internal locus of control –
change agents
 Believe they can change their
environments

20. Entrepreneurial Personality -
Psychological
 3. Calculated risk-takers (financial,
career, family & social, psychic)
– Attempt to estimate likelihood and
magnitude of key risk factors and manage
or mitigate them through good planning or
decisions
 4. High tolerance of ambiguity
– Process can be loose, messy, shift
directions
 5. Prize their independence – self-
motivated, self-reliant, prefer autonomy,
have perseverance

21. Situation-Based
Characteristics
 Willingness and ability to assume
and manage risks
– more critical with new-to-the-
world products
 Political skills important in large
corporate settings
 Adaptability and tenacity are
bigger factors in turbulent
environments

22. Dark Side Traits
 Excessive need for control
– Tendency to micromanage
 Suspicious – others will steal
their idea
 Impatience
 Need for applause
 Defensive
 Externalize internal problems

23. Entrepreneurial
Potential
 Allof us have
entrepreneurial
potential.
Degree might
differ. It is just a
matter of
developing that
potential.

24. The Process
 No individual has all the personal
attributes and managerial skills
needed
 Know what’s missing: personal
attributes or skills
 Learn how to compensate for what
is missing
 Knowing how to compensate can be
as valuable as already having the
skill