ENTREPRENUERSHIP

INTRAPRENEUR
A person who focuses on innovation and creativity and who transforms a dream or an idea into a profitable venture by operating within an established organisational environment.

INTRAPRENEUR
Gifford Pinchot coined the term Intrapreneur. Entrepreneur's attitude and approach playing field within the boundary of a company. Intrapreneuring is entrepreneuring within the corporation.

INTRAPRENEUR
Pinchot intracapital "Intrapreneurs introduce and produce new products, processes, and services, which in turn enable the company as a whole to grow and profit. - G.Pinchot

CHARACTERISTICS OF AN INTRAPRENEUR
Intrapreneurs are driven by a need to realize their vision, not a desire for wealth They work to minimize risk in order to realize their goals They follow both intuition and hard analysis They are honest with themselves and others They do not have a need for power. They are, in short, worthy of freedom and responsibility. Intrapreneurs bridge the gap between inventors and managers; they take new ideas and turn them into profitable realities.

ENTREPRENEUR
An entrepreneur searches for change, responds to it and exploits opportunities. Innovation is a specific tool of an entrepreneur hence an effective entrepreneur converts a source into a resource. - Peter Drucker

ENTREPRENEUR
An entrepreneur is a person who has possession of an enterprise, or venture, and assumes significant accountability for the inherent risks and the outcome. An ambitious leader who combines land, labor, and capital to create and market new goods or services.

ENTREPRENEUR Vs ENTREPRENEURSHIP
Entrepreneurs People who create and grow enterprises Entrepreneurship Process through which entrepreneurs create and grow businesses. Opportunity idea translation creativity.

DIFFERENT VIEWS ON ENTREPRENEUR

David McClelland An overwhelming need for achievement and strong urge to build. Collins and Moore - Driven by needs of independence and achievement. They seldom are willing to submit to authority. Bird - They are cunning, opportunistic, creative, and unsentimental.

contd
Cole - There are four types of entrepreneur The innovator, The calculating inventor The over-optimistic promoter, and The organization builder. These types are not related to the personality but to the type of opportunity the entrepreneur faces. Zhao & Seibert - meta-analysis between entrepreneur and manager.

ENTREPRENEURSHIP
Entrepreneurship - Onuoha (2007) the practice of starting new organizations or revitalizing mature organizations, particularly new businesses generally in response to identified opportunities. Entrepreneurship Peter Drucker a systematic innovation, which consists in the purposeful and organized search for changes, and it is the systematic analysis of the opportunities such changes might offer for economic and social innovation.

TYPES OF ENTREPRENEURSHIP
Social entrepreneurship. Political entrepreneurship. Knowledge entrepreneurship

SEQUENTIAL STEPS
Types of ownership. Name of the business. Evaluation of the financial options. Industry overview. Market analysis. Management plan.

PILLLARS FOR ENTREPRENEURSHIP

FORMS OF ENTREPRENEURSHIP

WHY ENTREPRENEURSHIP
To improve backwardness of the people. Economic development of the region. Proper utilization of human potentiality. Special attention to take up new activities. To create self-employment and generation of employment opportunity. Eradication of regional imbalances. Better economic gain.

TYPES OF ENTREPRENUERS
Innovative Entrepreneurs. Imitative Entrepreneurs,. Fabian Entrepreneurs. Drone Entrepreneurs. Solo Operators. Active Partners. Simply Partners. Inventors. Buyers. Life timers.

INNOVATIVE ENTREPRENEURS
Launches new products, discovers new markets, establishes new methods of production and restructures the enterprise. Can work only when definite level of progress has been previously accomplished. They focus on revolutionalisation and development.

IMITATIVE ENTREPRENEURS
Adopt victorious innovations launched by the innovative entrepreneurs. Duplicate the technology and techniques innovated by others. Suitable for underdeveloped countries.

FABIAN ENTREPRENEURS
Exemplified by great caution and skepticism in experimenting any change in the organization. They imitate only in situations where it becomes necessary to do so.

DRONE ENTREPRENEURS
Drone Entrepreneurs suffer losses, as they refuse to make any modifications in the existing production methods.

SOLO OPERATORS
These entrepreneurs basically work alone and if required may recruit few people.

ACTIVE PARTNERS
These entrepreneurs set up an enterprise as a joint venture and they actively take part in the activities of the organization.

SIMPLY PARTNERS
These entrepreneurs contribute funds, but are not involved in the operations of the enterprise.

INVENTORS
These entrepreneurs are involved in the research and development and innovative activities.

BUYERS
These entrepreneurs in order to reduce risk buy an already established and ongoing enterprise.

LIFE TIMERS
These entrepreneurs take business as primary part of their life. Family enterprise falls into this group of entrepreneurs.

FUNCTIONS OF AN ENTREPRENEUR
Planning of the project Management To Face Risks Distribution of Rewards Sale of Products Scale of Production Joint stock Organization Earn Profit

PRODUCTION

HUMAN RESOURCES

SALES/MARKETING

ENTREPRENUER

TECHNOLOGY/ SYSTEM

FINANCE

FUNCTIONS PERFORMED
Identifying entrepreneurial opportunity Turning ideas into action Feasibility study Resourcing Setting up of the Enterprise Managing the enterprise Growth and Development