Understanding the Entrepreneurship Perspective in Individuals

-Vinaya Magare(230) -Arjun Rawat(252) -Swapnil Bharade(254) -Chris Rebello(264)

Agenda
Qualities of an Entrepreneur Push & Pull Factors for Individuals

Barriers for Entrepreneurship

Interaction

Introduction
Entrepreneurship : Neither a science nor an art. It is a Practice. The Practice of Entrepreneurship: Entrepreneurial management in Existing Business Public service Institutions The New Venture India as an Entrepreneurial Economy

Entrepreneurship

is a distinct feature..be it an individual or an institution. It is not a personality trait; in thirty years I have seen people of the most diverse personalities and temperaments perform well in entrepreneurial challenges.
To be sure, people who need certainity are unlikely to make good entrepreneurs_ but such people are unlikely to do well in a host of other activities - politics, command in the military or as captain of a ocean liner. In all such pursuits decisions have to be made, and the essence of any decision is uncertainity
Peter F Drucker
Innovation and Entrepreneurship 1984

Qualities of an Entrepreneur
Confident and optimistic Able to take calculated risk Flexible & able to adapt Able to get along with others Independent minded Knowledge of the market Innovative Energetic and diligent Need to achieve Dynamic Leader Responsive to suggestions Responds positively to challenges Under confident Gambler Shifty Smarmy Egoistical Over familiar Dishonest Greedy Need to achieve Loner Indecisive

Time tested Qualities of an Entrepreneur

Risk Bearer : Richard Cantillon
Organiser : Jean-Baptiste Say Innovator: J A Schumpeter Psychological Factors: D McClleland; Begley & Boyd: Need achievement, Control, tolerance for risk & ambiguity, Type A behaviour
Entrepreneur is one who always searches for change, responds to it and exploits it as an opportunity. Innovation is a specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or services

Push Factors
No other alternative Necessity

As a push-factor a person's dissatisfaction with prevailing occupational conditions is measured.

Reasons
Unemployment Job Insecurity Disagreement/Dissatisfaction with management Does not Fit in with the organization No other alternatives

Reasons Cont
Lack of opportunities to advance Loss of interest in role

Conflict with colleagues

Salary

Characteristics
Very high risk category No knowledge base

Do business which is inline to the trade they have been doing before.

Examples
Anu Aga,Ex-Chairman,Thermax Ltd. Rohini Nilkeni,Chairperson, Arghyam and Pratham Books

Pull Factors
The pull factor is generally described as a positive

factor for entrepreneurship.

These can be termed as independence, achievement,

recognition, gaining social status, personal development and wealth.

Though this factor equally comes up for men and women, it is worth mentioning that 80 per cent of the women entrepreneurs are the ones to grab this opportunity.

Pull Factors Cont..

Desire to prove ones worth. Motivation from Biographies. Desire to earn decently. Influenced by culture, community, family background. Spotting an Opportunity. Government Policies.

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Thank You!!!