REPORT

ON
Entrepreneurial policies & practice

Submitted To
Smita Bhowmik
Lecturer
Department of
Management

Submitted By
Floppy Flyers
Program: BBA
Intake: 25
Section: 02

Definition of Entrepreneurship

Entrepreneurship is the process of organizing,

managing and assuming the risk of business.
(Kuratko and Hodgetts)
Entrepreneurship is the practice of starting new
organizations, particularly new businesses generally
in response to identified opportunities.

Definition of Entrepreneurship

Entrepreneurship is the quality of being an

entrepreneur, who "undertakes an enterprise".
The term puts emphasis on the risk and effort
of individuals who own and manage a
business, and on the innovation that result from
their
pursuit
of
economic
success.

Definition
Entrepreneur

of

An entrepreneur is an individual who accepts some

sort of risk usually financial in the pursuit of new
ventures.

Entrepreneur
Entrepreneur is a person who sets up a business or
businesses, taking on financial risks in the hope of
profit.
An entrepreneur can be defined as an individual
who organizes or operates a business or
businesses.

Definition of Intrapreneur
An inside entrepreneur, or an entrepreneur
within a large firm, who uses entrepreneurial
skills without incurring the risks associated
with those activities.
Intrapreneurs are usually employees within a
company who are assigned a special idea or
project, and are instructed to develop the
project like an entrepreneur would.

Definition of
Intrapreneur
A person within a large corporation who takes
direct responsibility for turning an idea into a
profitable finished product through assertive
risk-taking and innovation.

Characteristics Of Successful
Entrepreneurs
1. Mental ability

6. Motivator

2. Clear objectives

7. Long term involvement

3. Human relations ability

8. Self confidence

4. Communication ability
5. Technical knowledge

9. A forward-looking
approach
10. A constant flow of ideas

Manager vs. Entrepreneur

Manager

Entrepreneur

A manager is just an employee in An entrepreneur is the owner of

the enterprise of the entrepreneur. the enterprise
The main aim of a manager is to The main motive of an
render services to an entrepreneur. entrepreneur is to start a venture
by setting up an enterprise
A manager as the servant does not A manager as the servant does
share any risk involved in the not share any risk involved in the
enterprise.
enterprise.

Manager vs. Entrepreneur

Manager

Entrepreneur

The reward of a manager for The reward of an entrepreneur is

rendering his services is salary..
profit
All the managerial and operational All the policies and strategic
decision relating to day-to-day decisions
like
expansions,
activities of enterprise are taken by diversification,
takeovers,
manager.
mergers, capital budgeting, pricing
policies etc. are taken by
entrepreneur.
A manager simply implements the An entrepreneur acts as an
policies prepared by entrepreneur innovator to maximize the
and gives them practical shape.
profits.

Entrepreneur
vs.Intrapreneur
Entrepreneur

Intrapreneur

A person who organizes and man

ages any enterprise, especially a
business,
usually
with
considerable initiative and risk.
An employer of productive labor;
contractor.

An employee of a large corporati

on who is given freedom and
financial support to create new
products, services, systems, etc.,
and does not have to follow the
corporations usual routines or
protocols.

Solely responsible for capitalization, Capitalization, marketing and law

marketing, and taxation & licensing compliance are handled by the
requirements.
employing business.

Entrepreneur
vs.Intrapreneur
Entrepreneur

Intrapreneur

Solely responsible for livelihood, Salary & basic benefits are paid
insurance, retirement savings.
& managed by the employing
business,
which
has
an
established relationship with
insurance and financial providers.
All progress, patent rights, and The employing company owns
profits are available to the the progress, patent rights, and
Entrepreneur.
profits, which may or may not be
shared with the Intrapreneur.
Corporate agreements, investments, Corporate
agreements,
and distribution of profits are at the investments, and distribution of
sole discretion of the Entrepreneur. profits are the employing
companys business,

Importance of entrepreneurship in
economic development
1. Promotes Capital Formation:
2. Creates Large-Scale Employment Opportunities:
3. Promotes Balanced Regional Development:
4. Reduces Concentration of Economic Power:
5. Wealth Creation and Distribution:
6. Increasing Gross National Product and Per Capita Income:
7. Improvement in the Standard of Living:
8. Promotes Country's Export Trade:

Determinants of entrepreneurship
1. Psychological characteristics:
Motivation of power:
Motivation of achievement:
Creativity:
Risk taking propensity:

Determinants of entrepreneurship
2. Socio-cultural variables:
Urbanism:
Social-cohesion:
3. Situational factors:
Family tradition of business:
Work experience:
Less formal education: