entrepreneurship an evolving concept

7/31/2019 Entrepreneurship an Evolving Concept

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Sachin Khedekar(220)

Sagar Khshirsagar(224)

Bhushan Patil(247)

HarishPatil(248)

Shantanu Patil(250)

Shyam Patil(251)


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Entrepreneurship: An evolving concept

The Myths about Entrepreneurship

Definition of Entrepreneur

Types of Entrepreneurs


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Entrepreneur(French): Organizer of musical orother entertainments

Oxford Dictionary(1897): Director/Manager of

a public musical institution. 16th Century: Military term

17th Century: Civil engg activities

18th Century: Economic Aspect


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Entrepreneur as a-

1. Risk-Bearer

2. Organizer

3. Innovator


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Richard Cantillon

Agent who buys factors of production atcertain prices in order to combine them into a

product with a view of selling it at uncertainprices in future

Eg. Farmer, Merchants etc

Uncertainty


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Jean Baptiste Say

Entrepreneur associated with the functions ofcoordination, organization & supervision.

Organization of Land, Labor, Capital


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Joseph schumpeter

Economic development as a discrete dynamicchange brought by entrepreneur by instituting

new combinations of productions-innovations-New product in market

- New production technology

- Opening of a new market- New source of supply of raw material


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Myth 1: Entrepreneurs Are Doers, Not Thinkers

Myth 2: Entrepreneurs Are Born, Not Made

Myth 3: Entrepreneurs Are Always InventorsMyth 4: Entrepreneurs Are Academic and

Social Misfits

Myth 5: Entrepreneurs Must Fit the ProfileMyth 6: All Entrepreneurs Need Is Money


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Entrepreneur is defined as a person who triesto create something new, organizes productionand undertakes risks and handles economic

uncertainty involved in enterprise.


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Entrepreneurship is a dynamic process ofvision, change, and creation. It requires anapplication of energy and passion towards thecreation and implementation of new ideas and

creative solutions. Essential ingredients includethe willingness to take calculated risks- interms of time, equity, or career;the ability toformulate an effective venture team; the

creative skill to marshall needed resources; thefundamental skills of building a solid businessplan; and, finally, the vision to recognizeopportunity where others see chaos,

contradiction, and confusion.


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1. Innovating Entrepreneurs

2. Imitative Entrepreneurs

3. Fabian Entrepreneurs

4. Drone Entrepreneurs


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1. Social

2. Serial

3. Lifestyle


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entrepreneurship an evolving concept

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