ASST. PROF JONLEN DESA

An entrepreneur is one who undertakes an enterprise- Oxford Dictionary.

He acts as an intermediary between capital and labour and combines the two for the purpose of production.

An entrepreneur is an innovator, who introduces something new in the economy.

An entrepreneur is one who starts his own, new and small business.

An entrepreneur is one who brings together the factors of production and combines them into a product.

An entrepreneur is one who starts up his own business, he is an innovator, always looking out for creative solutions and a risk bearer.

According to J.A. Schumpeter, an entrepreneur is an innovator, who introduces something new in the economy. New productNew methods of productionMaking changes in the organization & management.

Innovation is a necessary condition for entrepreneurs.

Entrepreneurship is a purposeful activity of an individual or group of associated individuals, undertaken to initiate or earn profit, by production and distribution of goods & services.

Entrepreneurship is associated with innovation, creativity and risk –bearing.

Innovation is the crux of entrepreneurship. Risk bearing and innovation are the 2 elements of

entrepreneurship.

Willingness to assume risk and make sacrifices Leadership Decisiveness Creative Thinking Confidence in project Technical knowledge Flexibility Ability to Marshall resources Market Orientation Determination, courage & perseverance Honesty Drive to achieve and grow Low need for status and power.

Conceptual Skills Technical Skills Human Relations Skills Communication Skills Diagnostic Skills Decision making Skills Managerial Skills Project Development Skills Marketing Skills

Innovation (Product & Process) Planning the project Organizing Management Risk taking & uncertainty bearing Procurement and mobilization of resources Taking business decisions Perception of market opportunities Marketing of products and responding to competition Financial management Upgrading process and product quality Fulfilling social obligations Dealing with public bureaucracy