4. Economic Progress?
Measure of welfare of humans in society.
According to Joseph Schumpeter
Rate of “Economic Progress” depends upon its Rate of Innovation
Which depends on continually increasing rate of
entrepreneurial talent in society
5. Role of entrepreneur in Economist
View
The entrepreneur directs production and must do
whatever is necessary for success
6. Role of an Entrepreneur in economic
Development
An entrepreneur plays an imperative Role in Economic
development in variety of aspects some of them are:
Endorsing Capital development
Creates large scale employment opportunities
Promotes balanced regional development
General employment
Improvement in standard living
National self reliance
7. Endorse Capital development
Entrepreneur maintains capital formation by
organizing idle savings of public.
Spend their own as well as borrowed from people.
This leads to the industrial and economic
development of the country.
8. Large scale of job opportunities
Unemployment is the constant problem of the
underdeveloped country.
Entrepreneur provides immediate large-scale
employment opportunities to the unemployed.
In this way an entrepreneur clears the path towards
economic development of the country
9. Promotes Balanced Regional
Development
Entrepreneur helps to remove regional differences
through setting up of industries in less develop and
backward areas
More industries leads to more development of
backward areas.
10. Increases General Employment rate
An entrepreneur is not the job seeker but a job
creators and provider
Gov.jobs are shrinking due to recession leaving
many unemployed
An entrepreneur and their enterprises are the direct
and indirect source of employment.
11. Improvement in Standard living
Varying Quality products, new innovations makes
common’s man life smoother and comfortable.
12. National self-reliance
An entrepreneur help to
manufacture native
alternates to imported
products which reduces the
dependence on foreign
country.
13. Summary…
An Entrepreneur Examine sand
identifies opportunities and convert
them into business intentions. in such
way they play a important role for the
economic development of a country..