26-05-2012, 04:14 PM
ENTREPRENUER AND ENTREPRENURESHIP
29164917-Entrepreneurship-PPT.pptx (Size: 171.19 KB / Downloads: 37)
Definitions
Derived from French word Entreprendre means “to undertake”.
Richard Carleton: “a person who buys factors of production at certain prices in order to combine them into a product with a view to sell them at uncertain prices.”
Considered as a risk bearer. Ex. Farmer pays definite price for seeds, fertilizers, pesticides, labours etc but not certain at which price he could sell his produce.
QUALITIES OF ENTREPRENUERS
Mental ability: intelligent person.
Organising ability: good organisation.
Hard work: ready to work for long hours.
Discipline: highly disciplined- everything to be in order for them.
Clear objectives: regarding nature of business & products to be produced.
FUNCTIONS OF ENTREPRENUERS:
Market research
Idea generation
Product/ service analysis
Form of business: individual, partnership.
Determination of business objectives: main objectives, subsidiaries objectives, short term, long term.
WHAT IS ENTREPRENURESHIP?
B. HIGGINS: “ The function of seeing investment & production opportunities; organising an enterprise to undertake a new production process; raising capital; hiring labour, arranging for raw material, finding a site & combining these factors of production into a going concern; introducing new techniques, new commodities, discovering new sources of natural resources & selecting top-managers for day-to-day operations