[Group -1]

Definition- meaningThe concept of ‘new combinations’ :

• introduction of a new good,• a new method of production, • a new market,• a new source of supply of raw-materials,• a new organization of any industry.

Entrepreneurship is the process of identifying and starting a newbusiness venture and sourcing and organizing the requiredresources while taking both the risks and rewards associated withthe venture.

What ENTREPRENEUR(s) does??

Determines the supply of financial capital, innovation, allocation of resources among alternative uses.

Entrepreneurs identify opportunities

Assemble required resources, implement a practical action plan, and harvest the reward in a timely, flexible way.

Forecasted future

Creation of a previously-unperceived idea

Opportunity for profit and the alertness to that previously untapped opportunity

Attempt to calculate economic problems

Functions of an Entrepreneur

Risk-bearing

function :-Assumes risks

• Not insurable &

incalculable.

Organizational

function :-• Coordination,

Organization

and

Supervision.

Innovative

function :-• New products ideas

and information.

• Foresees the

potentially

profitable

opportunity.

Managerial function :–• Planning, organizing, co-

ordinating, staffing, directing,

motivating and controlling.

• Production plans, product

analysis and market

research, organization of

sales procuring machine and

material, recruitment of men.

Decision making

function:-• Determines financial

resources for the

organization.

• Market for his product,

develops new product or

modify the existing

product.

Factors affecting entrepreneur’s

performance

SCALES (MBTI)

The Myers-Briggs Type Inventory) (MBTI is a instrument based on Carl Jung's personality theory that individual behavior is due to individual differences in perception and judgement. The MBTI is based on four bipolar subscales. Extroversion-Introversion, Sensing-Intuition, Thinking-Feeling and Judging-Perceiving.

The MBTI is widely used in organizations in both employee selection and personnel development and also in academic research. Based on Jung's theory, the MBTI identifies an individual's preference on each of the four dimensions. One pole of each dimension is preferred over the other, and each dimension is independent of the others. A classification for each of the four dimensions results in sixteen possible types.

SCALES (MBTI)

Extroversion-

Introversion

(E-I)

interacting

Extraverts

Introverts(conce

pts and ideas).

Sensing-

Intuition (S-

N). A sensing

orientation

focuses on the

moment and

the information

coming

through the

five senses..

Thinking-

Feeling (T-F) A

thinking

orientation

indicates

inferences

based on logic

and analysis.

Inferences

based on

values and

feelings of

others.

Judging-

Perceiving (J-

P) A judging

orientation

indicates a

desire for

planning, order,

and structure. A

perceiving

orientation

indicates

flexibility and a

sensitivity to

new

information.

Trade Related Entrepreneurship

Assistance and Development

(TREAD)Trade Related Entrepreneurship Assistance and Development (TREAD)

Improving the Socio-economic conditions of women.

Educated and resourceful women on entrepreneurship development.

OBJECTIVES

Counseling and training, delivery of credit poses the most serious problem for the poor women

Poor women are to be economically empowered, appropriate programmes and schemes are to be designed so as to assist them in all respects.

SALIENT FEATURES OF THE REVISED TREAD SCHEME FOR EMPOWERMENT OF WOMEN

A. Credit: Government Grant up to 30% of the total project cost as appraised by lending institutions which would finance the remaining 70% as loan assistance to applicant women, usually illiterate/semi-literate women to provide adequate security demanded by banks in the form of collaterals. B. Training & Counseling of the women

Thus Entrepreneurship is the art of generating innovative ideasthat, if properly funded, generates profit. The profit could befrom the sales of various products or services that werecreated by the idea. And further the yield can be used forSocio-Economic development.