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By:srinivas

ENTREPRENEURSHIP

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Entrepreneurship: Stepping Stone for Your Success

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DEFINITION AND MEANINGAlbert ShapiroEntrepreneurs take initiative,

accept risk of failure and have an internal locus of

control.

An Entrepreneurship signifies a continuous, ever

evolving, ever expanding opportunity for personal as

well as business growth and development

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SLOGAN A nice slogan was given

by

SWAMI

VIVEKANANDA

YOU ARE THE CREATOR

OF YOUR OWN

DESTINY

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ENTREPRENEURSHIP SYSTEM

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SUCCESSFUL ENTREPRENEURS

The following are some of successful

Entrepreneurs:

Mr. PATEL- Nirma Group of companies.

Mr. NARAYANA MURTHYInfosys Technologies

Mr. DHIRUBAI AMBANIReliance Group

Mr. RAMOJI RAOEenadu Group Mr. LAKSHMI MITTALMittal Iron Industries

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WHAT IS ENTREPRENEURSHIP? It can be described as a process of action an

entrepreneur undertakes to establish his

enterprise.

IT IS A CREATIVE ACTIVITY.

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WHO IS AN ENTREPRENEUR He is a person who start

the business in search of

new challenges.

He convert threat intoopportunity.

He is creative and

innovative.

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ADVANTAGES OF ENTREPRENEURSHIP

1.INCOME GENERATION :

It is the initial stage in the

entrepreneurial process in which one tries to generate surplus orprofit

2.SELF EMPLOYMENT:

It is the second stage in the entrepreneurial

process and refers to an individuals full time involvement in his

own occupation

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FUNCTIONS OF ENTREPRENEUR

1. INNOVATION:

2. RISK BEARING:

3. ORGANISATION BUILDING:

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EMPLOYMENT :

Works for others.

Follow instructions.

Routine jobs.

Does not create wealth.

Earning is fixed.

ENTREPRENEURSHIP:

Own boss.

Make own plans.

Creative activity.

Creates wealth.

Earning can be negative

or positive.

EMPLOYMENT ENTREPRENEURSHIP

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ENTREPRENEURVSMANAGER

An entrepreneur is his

own boss.

An entrepreneur

initiates change. An entrepreneur gets

uncertain rewards.

An entrepreneurassumes financial,

material and

psychological risks.

A manager is a hired

employee.

A manager follows rules

and procedures. A manager gets fixed

rewards and salary.

A manager does nothave to bear risks.

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CONCLUSION The identification and development of 1st

generation entrepreneurs through

Entrepreneurial Development Programmes is

an important strategy.

India needs entrepreneurs to capitalize on new

opportunities and to create wealth and new

jobs.

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