Introduction to entrepreneurship .functions of entrepreneur.

1. ENTREPRENEURSHIP & STARTUP
PRESENTED BY:
NIRANJAN. C – 21CT18
UNIT 1
ENTREPRENEURSHIP - INTRODUCTION AND PROCESS

2. AGENDA
 Concept of entrepreneurship
 Functions of entrepreneur
 Importance of
entrepreneurship
 Myths about entrepreneurship

3. INTRODUCTION TO ENTREPRENEURSHIP
 The term entrepreneur is derived from the French word and the “entreprendre”. The exact
meaning of the tomb “entreprendre” is undertaking.
 Entrepreneurship is the process of developing, organising and running a new business to
generate profit while taking on financial risk.
 Entrepreneurship is the ability to generate and implement new ideas to start a business
 Entrepreneurship requires leadership qualities to build a successful teamwork towards the
fulfilment of the vision

4.  Entrepreneurship is led by the design and ability to
establish a new business to fulfil the aspiration, goals and
passion of an individual.
 An entrepreneur is his boss and there is no one to interface
with the decisions, the way of working, or how to approach
situations.
 Entrepreneurship requires the ability to take risks and find
the means to overcome them.
 Starting your business and earning money by application
of innovative strategies and methods can be rewarding and
motivating

5. CONCEPT OF ENTREPRENEURSHIP
Entrepreneur
Outcome
Process
Person
Enterprise
Entrepreneurshi
p

6. CONCEPT OF ENTREPRENEURSHIP
 Enterprise ship is a dynamic process of vision, change and creation. It requires an application
of energy and passion towards the creation and implementation of new ideas and creative
solution.
 The entrepreneurs play a key role in an economy, using the skills and initiatives necessary to
anticipate needs and bring new idea to the Market.
 Entrepreneurship that provides to be successful in taking on the risks of creating a startup is
rewarded with profits and growth opportunities
 The process of setting a business is known as entrepreneurship

7. FUNCTIONS OF AN ENTREPRENEUR
 Idea generation and scaling of the best suitable idea
 Determination of the business objectives
 Product analysis and market research
 Determination of form of ownership / organisation
 Completion of promotional formalities
 Raising necessary funds
 Procuring machine and materials
 Recruitment of team

8. FUNCTIONS OF AN ENTREPRENEUR

9. IMPORTANCE OF ENTREPRENEURSHIP
 Developing the economy
 Provides innovation
 Self employment
 Increased profits
 Balanced growth
 Mobilisation of local resources
 Change agent
 Export promotion
 Quality enhancement
 Entrepreneurship brings social stability
 Social benefits

11. Myth Truth
Entrepreneurs do not have a personal life Entrepreneurs who can master their time management skills
will have plenty of time for a personal life
Entrepreneurs takes lots of risks They don’t necessarily take lots of risks. They take calculated
risks
Entrepreneurs are only motivated by money Financial gain is not the only motivation for small business
owners. There are other motivating factors such as freedom,
excitement, originality, leaving a legacy, etc.
Entrepreneurs have a great ideas You don’t need a new idea to be an entrepreneur. Being a
successful entrepreneur is much more than having a good
idea.
Anyone can be an entrepreneur Not everyone can be an entrepreneur. Not everyone has the
personality or resources to do their own business.
Entrepreneurs have formal training and
education
You don’t need to study business or entrepreneurship to have
a successful startup company majority of enterprise do not
have a college degree.
Entrepreneurs are young Age has no limitations when it comes to entrepreneurship
Entrepreneurs are born Entrepreneurs are not born. They learn to become
entrepreneurs
Entrepreneurship requires huge capital The successful entrepreneur designed their business to work

12. THANK YOU