entrepreneurship an evolving concept
TRANSCRIPT
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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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