This PPT is specifically for the students of BBA.

1. Concept of
Entrepreneurship

2. Introduction:-
 Entrepreneurship can be described as a
process of action an entrepreneur undertakes to
establish his enterprise.

3. Introduction (Cont.) :-
 Entrepreneurship is a creative activity.
 Entrepreneurship is a composite skill, the result
of a mix of many qualities and traits.
 It is the ability to minimise the use of resources
and to put them to maximum advantages.
 In short, it is a leadership rather than a
ownership.

4. Definition :-
Acc. to Janil and Stevenson, “Entrepreneurship
is
a process by which individual either on their
own or inside the organisation persue
opportunities without regard to the sources
they currently control.”

5. Characteristics/Features :-
1. Economic Activity
2. Creative Activity
3. Risk – bearing Activity
4. Dynamic Process
5. Human Relations
6. Goal – oriented Activity

6. Need/Importance/Significanc
e :-
1. Generation of employment
2. Contribution towards research and
development
3. Create wealth for nation as well as individuals
4. Maximum scope for growth
5. Balanced regional development
6. Improve standard of living

7. Barriers :-
1. Poor financial management
2. Lack of experienced management/manpower
3. Lack of information
4. Faulty taxation system
5. Improper inventory control
6. Lack of infrastructural facilities
7. Other barriers

8. Theories :-
The concept of entrepreneurship is as old as
civilization
while the theories of entrepreneurship have evolved
from over a period of more than two centuries. Various
authors have developed various theories of
entrepreneurship. The theories of entrepreneurship
can be broadly classified into four categories:-
1. Sociological theory
2. Economic theory
3. Cultural theory
4. Psychological theory

9. 1. Sociological Theory
 Entrepreneurship is likely to get a boost in a
particular social culture.
 The (entrepreneurial) behaviour of individuals in a
society is influenced by -
 Society’s values
 Religious beliefs
 Customs
 His performance depends on his own attitude
towards his occupation and the occupational
requirements of the job.

10. 1. Sociological Theory (Cont.)
 The main sociological theories are:-
a. Max Weber’s Theory
b. E.E. Hagen’s theory

11. 2. Economic Theory
 Entrepreneurship and economic growth takes place
when economic conditions are favourable.
 Economic incentives are the main motivators of the
economic activities.
 The main economic theories are:-
a. Entrepreneurship innovation theory
b. Harvard business school
c. Theory of high achievement

12. 3. Cultural Theory
 Hoselitz’s theory and Stoke’s theory portray
that the cultural factors are always responsible
for the emergence of entrepreneurship.
 The main cultural theories are:-
a. Hoselitzs theory
b. Stroke’s theory
c. Peter F. Drucker theory

13. 4. Psychological Theory
 Entrepreneurship gets boost when society has sufficient
supply of individuals with necessary psychological
characteristics.
 These psychological characteristics include:
a)Need for achievement
b)A vision foresight
c)Ability to face opposition
 These characteristics are formed –
a)during the individual’s upbringing
b)by high standards of excellence
c)self reliance
d)low father dominance

14. 4. Psychological Theory
(Cont.)
 The main psychological theories are:-
a. Locus of control
b. Psychodynamic model
c. Risk taking propensity

15. Submitted By:- Damanpreet Singh
4032/18
Submitted To:- Jaytika Cheba