ED UNIT 1-Updated - PPSX

ENTREPRENEURSHIP
Big Wins Require Big Risks :Bill Gates
UNIT1
Slides By
Supreet Juneja Wahee
Learning Objectives
Describe the meaning of the term entrepreneur and discuss the
evolution and development of the concept
Highlight the characteristics of successful entrepreneur
Internal and External Factors
Describe the Functions performed by an entrepreneur

Entrepreneurial motivation and Barriers
Classification of Entrepreneurship
Theory of Entrepreneurship
Define Intrapreneur and distinguish between an Manger and

Intraprenuer
MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 2

Introduction to Entrepreneurship
What is Entrepreneurship?
Entrepreneurship is the process of creating something new of value

by devoting (giving) the necessary time and effort.
By accepting and acknowledging the necessary financial,

psychological, and social risks, and
Finally receiving the resulting rewards be it monetary and personal

satisfaction and freedom to do what you want.
Simple Definition
Process of creating something new and assuming the risks and
rewards.
Robert D.Hisrich, M.P.Peters & D.A.Shepherd
Entrepreneurship
Entrepreneurship is the creation of new business

Opportunity recognition or creation (entrepreneurial
discovery is the intersection of a need and a solution)
Assembling resources to pursue the opportunity,
including capital (typically associated with a business
plan)
Managing activities that bring a new venture into
existence
Some ventures are complete start-ups
Other ventures occur within existing firms
Organizational entrepreneurship or intrapraneurshi p

Definitions by Authors:
J.B. Say: one who combines the land of one, labour of

another & capital of yet another & thus produces a
product. By selling product pays rent, wages and
interest.
Peter F Ducker: One who considers the changes that
take place in market as an opportunity to do business.
Innovation is his tool.
Joseph Schwnpeter: Individuals who introduce
something new in the market or economy.

Entrepreneur
The word entrepreneur is derived from the French word enterprendre it means
to undertake and literally translated means between-taker or go-between.
Entrepreneur is an individual who takes risk and starts something new.
Development of entrepreneurship
- Earliest period.
- Middle Ages.
- 17th Century.
- 18th Century.
- 19th and 20th centuries.

Who is an Entrepreneur?
He or she is an individual who actively form or lead their

own business and nurture them for growth and prosperity.
UiTM Entrepreneurship Study Group
A person who creates and manages change by the

recognition of opportunities (needs, wants, opportunities,
problems, and challenges) and develops people and manages
resources to take advantage of the resources to take the
opportunity and creates a venture (profitable business).
Eston Kimani, MIT

Entrepreneurs
Opportunists
Recognize and take advantage of
opportunities
Resourceful
Creative
Visionary
Hardworking
Optimistic
Independent Thinkers
Excellent Leaders
Dreamers
Why Be an Entrepreneur?
The biggest reward of becoming an entrepreneur is the
The biggest reward of becoming an entrepreneur is the
personal satisfaction that comes from having the freedom to
personal satisfaction that comes from having the freedom to
make your own business decisions and then act on them.
make your own business decisions and then act on them.
Making Your Own Rules. When you own a
business, you get to be your own boss.
Doing Work You Enjoy. Since the majority of
most peoples lives is spent working, why not
spend that time doing something you enjoy?
Creating Greater Wealth. Theres no limit to
what an entrepreneur can make.
Helping Your Community. Being an
entrepreneur lets you make your community and
world a better place.
Entrepreneurship:OwningYourFuture,11 ed.
th
2010PearsonHigherEducation,
MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide
9 9
SteveMariotti UpperSaddleRiver,NJ07458.AllRightsReserved.
Risks of Being an
Entrepreneur
Potential Business Failure. Being fully
Potential Business Failure. Being fully
responsible means the success or failure of your
responsible means the success or failure of your
business rests on you.
business rests on you.
Unexpected Obstacles. Problems can happen
Unexpected Obstacles. Problems can happen
that you dont expect.
that you dont expect.
Financial Insecurity. Many new businesses
Financial Insecurity. Many new businesses
dont make much money in the beginning, so
dont make much money in the beginning, so
you may not always be able to pay yourself.
you may not always be able to pay yourself.
Long Hours and Hard Work. Its not unusual
Long Hours and Hard Work. Its not unusual
for entrepreneurs to work a lot of extra hours to
for entrepreneurs to work a lot of extra hours to
make their businesses successful. This is
make their businesses successful. This is
especially true during the initial start-up
especially true during the initial start-up
process.
MBA
process.
th
IV :Entrepreneurship Development Supreet Juneja Wahee 2010PearsonHigherEducation, Slide
1010
What are the different
outcomes of engaging in
entrepreneurship?
Innovation or newness product or service.
Organizing resources finance, people, physical and
information resource.
Creating new product or service.
Generating wealth
Taking risk in a business venture.
Prepared to face uncertainty.
Create job opportunity
Increase the abundance of wealth generation for the nation.

Characteristics of Successful
Entrepreneurs
Self-assessmentevaluating your strengths and weaknesses
Self-assessmentevaluating your strengths and weaknesses
is an important part of becoming an entrepreneur.
is an important part of becoming an entrepreneur.
An aptitude is a natural ability to do a particular

type of work or activity well.
An attitude is a way of viewing or thinking about
something that affects how you feel about it.
Entrepreneurs tend to be people with positive
attitudes.
th
1212
Characteristics of Successful
Entrepreneurs
Personal Characterisitics Skills
Personal Characterisitics
Courage A skill is an ability thats
Courage
Creativity learned through training
Creativity
Curiosity and practice.
Curiosity
Determination Business Skill
Determination
Discipline Communication Skill
Discipline
Empathy Computer Skill
Empathy
Enthusiasm Decision-Making and
Enthusiasm
Flexibility Problem-Solving Skills
Flexibility
Honesty Mathematical Skill
Honesty
Patience Organizational Skill
Patience
Responsibility People Skills
Responsibility
th
1313
Successful and Unsuccessful
Entrepreneurs
Successful Unsuccessful
Creative and Poor Managers
Innovative Low work ethic
Position
Inefficient
themselves in
shifting or new Failure to plan and
markets prepare
Create new Poor money
products managers
Create new
processes
Create new
delivery
Characteristics of Entrepreneurs
Key Personal
Attributes
Strong Managerial Successful

Competencies Entrepreneurs
Good Technical
Skills

Key Personal Attributes
Entrepreneurs are Made, Not Born!

Many of these key attributes are developed
early in life, with the family environment
playing an important role
Entrepreneurs tend to have had self
employed parents who tend to support and
encourage independence, achievement, and
responsibility
Firstborns tend to have more entrepreneurial
attributes because they receive more
attention, have to forge their own way, thus
creating higher self-confidence

Key Personal Attributes (cont.)
Entrepreneurial Careers
The idea that entrepreneurial success leads
to more entrepreneurial activity may explain
why many entrepreneurs start multiple
companies over the course of their career
Corridor Principle- Using one business to start
or acquire others and then repeating the
process
Serial Entrepreneurs- A person who founds
and operates multiple companies during one
career

Need for Achievement

A persons desire either for excellence or to
succeed in competitive situations
High achievers take responsibility for
attaining their goals, set moderately difficult
goals, and want immediate feedback on their
performance
Success is measured in terms of what those
efforts have accomplished
McClellands research

Desire for Independence

Entrepreneurs often seek independence from
others
As a result, they generally arent motivated to
perform well in large, bureaucratic
organizations
Entrepreneurs have internal drive, are
confident in their own abilities, and possess a
great deal of self-respect

Self-Confidence
Because of the high risks involved in running
an entrepreneurial organization, having an
upbeat and self-confident attitude is
essential
A successful track record leads to improved
self-confidence and self-esteem
Self-confidence enables that person to be
optimistic in representing the firm to
employees and customers alike

Self-Sacrifice
Essential
Nothing worth having is free
Success has a high price, and entrepreneurs
have to be willing to sacrifice certain things

Technical Proficiency
Many entrepreneurs demonstrate strong

technical skills, typically bringing some related
experience to their business ventures
For example, successful car dealers usually
have lots of technical knowledge about selling
and servicing automobiles before opening their
dealerships
Especially important in the computer industry
NOT ALWAYS NECESSARY

Planning
Business Plan A step-by-step outline of how an

entrepreneur or the owner of an enterprise
expects to turn ideas into reality.

Questions To Keep In Mind
What are my motivations for owning a business?
Should I start or buy a business?
What and where is the market for what I want to

sell?
How much will all this cost me?
Should my company be domestic or global?

Motivations
Deciding what your motivations are will direct

you toward what type of business fits you
best.
Types:
1. Lifestyle Venture
2. Smaller Profit Venture
3. High Growth Venture

1. Lifestyle Venture
Small company that provides its owner

independence, autonomy, and control.
Is often run out of household
Provides flexibility (hours, meeting places,
attire)
Aligns your personal interests and hobbies with
your desire to make a profit.

2. Smaller Profit Venture
Small company not concentrated on pushing the

envelope and growing inordinately large.
Making millions of dollars not important.
Content with making a decent living.
Ex. Mom and Pop Stores

3. High Growth Ventures
Goal is maximum profit and growth.

Concentrated on pushing envelope and growing
as large as possible.
Focus on innovation

Start or Buy?
Start cheapest, but very difficult

-requires most planning/research
Buy expensive may be out or reach
-requires less planning and research
Franchise (middle ground) a business run by
an individual (the franchisee) to whom a
franchiser grants the right to market a certain
good or service.

Why Study
Entrepreneurship?
There are two primary reasons why studying
There are two primary reasons why studying
entrepreneurship makes sense: you learn to think like
entrepreneurship makes sense: you learn to think like
an entrepreneur and you develop a vision for your life.
an entrepreneur and you develop a vision for your life.
th
3030
Myths of Entrepreneurship
They are doers not thinkers
They are born not made
They are always inventors
They are academic and social misfits
They are extreme risk takers
All entrepreneurs need is money
Entrepreneurs must fit theProfile
They need luck

Benefits of Entrepreneurship
Opportunity to create your own destiny
Opportunity to make a Difference
Opportunity to reach your full potential.
Opportunity to reap extraordinary (luar biasa) profits.
Societal Responsibility and Recognition.
Opportunity to engage in work of their choice

Main features of entrepreneurship
An economic activity

Entrepreneur and Entrepreneurship
Entrepreneur Entrepreneurship
Person Process
Visualizer Vision
Organizer Organization
Decision maker Decision Making
Innovator Innovation
Risk bearer Risk bearing
Motivator Motivation
Creator Creation
Leader Leadership
Manager Management
Initiator Initiation
Planner Planning
Technician Technology
Communicator Communication
Administrator Administration
Entrepreneurial Motivation Factor
1. Educational background
2. Occupational Experience
3. Desire to work independently
4. Desire to branch out to manufacturing
5. Family background
6. Assistance from Government
7. Assistance from financial institution
8. Availability of technology/raw material
9. Profit margin
10. Desire for taking personal responsibility
11. Anticipation of future possibilities
12. Success stories of entrepreneurs
13. To gain social prestige
14. Heavy Demand
15. Technical knowledge
Functions of Entrepreneur
Entrepreneur is the person who takes the initiative of establishing a business
enterprise. He is also designated as the captain of the industry, business
organizer, and the business manager. An entrepreneur is responsible for the
performance areas of:
PRODUCTION
HUMAN RESOURCE ENTERPRENEUR SALES/MARKETING
TECHNOLOGY FINANCE
Innovation.
- The unexpected success or failure or any unexpected outside event.
- Innovation based on process need.
- Changes in industry and market structure.
- Demographics changes.
- New knowledge.
Risk and uncertainty bearing.

Organization building.
- Perception of market opportunities.
- Gaining command over scarce resources.
- Purchasing inputs.
- Marketing the products.
- Dealing with bureaucrats.
- Managing human relations within the firm.
- Managing customer and supplier relations.
- Managing finance.
- Managing production.
- Acquiring and overseeing assembly of the factory.
- Upgrading process and product.
- Introducing new production techniques and products .

ENTREPRENEURIAL MOTIVATION:
INTERNAL FACTORS
Strong desire to do something new.
To be independent in Life.
Making the maximum use of technical/professional
knowledge.
Occupational experience/background.
Passionate about particular activity.
Dissatisfaction with present job.
To attain self-satisfaction.

EXTERNAL FACTORS:
Utilizing Government grants & subsidiaries.

To continue ancestor business.
Financial assistance from Institutions.
Availability of resources.
Encouragement from big business houses.
Availability of sick units/ easy financial terms.
Encouragement from family members.

Types of an entrepreneurs
Innovative Entrepreneur ( new Fabian Entrepreneur(when

things) failure to do so result in heavy
Adoptive or Imitative (adopted loss)
by others) Entrepreneur Drone Entrepreneur (traditional
methods of production)

Type of Entrepreneur
Classification according to type of business.

Business Entrepreneurs.
Trading Entrepreneurs.
Industrial Entrepreneurs.
Corporate Entrepreneurs.
Agricultural Entrepreneurs.
Classification according to use of technology.
Technical entrepreneur.
Professional entrepreneur.
Non-technical entrepreneur.
High-tech entrepreneur.

TYPES OF ENTREPRENEURS
1)ACCORDING TO THE TYPE OF BUSINESS
i)Business entrepreneurs:-who start business units after developing ideas for new
products/services.
ii)Trading entrepreneurs :-who undertake buying & selling of goods, but not
engage in manufacturing.
iii)corporate entrepreneurs:-who establish and manage corporate form of
organization which have separate legal existence.
iv)Agricultural entrepreneurs:- who undertake activities like raising and
marketing of crops, Development

MBA IV :Entrepreneurship fertilizers and other allied activities.
Supreet Juneja Wahee Slide 43
2)ON THE BASIS OF STAGES OF DEVELOPMENT
generation entrepreneurs:-who do not possess

i)First
any entrepreneurial background. They start
industry by their own innovative skills.
ii)Second generation entrepreneurs:-who inherit
the family business and pass to next generation.
iii)Classical entrepreneurs:-who aims to
maximize his economic returns at a level
consistent with the survival of the unit with or
without an element of growth.

3)ON THE BASIS OF MOTIVATION
i)Pure entrepreneurs:-who are basically motivated to
become entrepreneurs for their personal satisfaction,
ego etc..
ii)Induced entrepreneurs:- who are induced to take up
entrepreneurial role by the assistance and policy of
government including incentives, subsidies etc.

4) ON THE BASIS OF TECHNOLOGY
i)Technical entrepreneurs:- who are task oriented and

craftsman type. They prefer doing to thinking.
ii)Non-technical entrepreneurs:- who are not concerned with

technical side, but rather with marketing and promotion.
iii)Professional entrepreneurs:- who start a business unit, but

later sell the running business and start a new unit later.

5)ON THE BASIS OF CAPITAL OWNERSHIP
i)Private entrepreneurs:- individual or group set up

enterprise, arrange finance, share risk etc.
ii)State entrepreneurs:- means the trading or industrial

venture undertaken by the state or the government
itself.
iii)Joint entrepreneurs:- the combination of private and

government entrepreneurs.
OTHER CLASSIFICATIONS
6)ACCORDING TO GENDER AND AGE

i)Man entrepreneurs
ii)Women entrepreneurs
iii)Young entrepreneurs
iv)Old entrepreneurs
v)Middle-aged entrepreneurs
7)ACCORDING TO AREA
i)Urban entrepreneurs
ii)Rural entrepreneurs

8)ACCORDING TO SCALE
i)Large scale entrepreneurs
ii)Medium scale entrepreneurs
iii)Small scale entrepreneurs
iv)Tiny scale entrepreneurs
9)OTHERS
i)Spiritual Entrepreneur: is one who offers service relating to or affecting
the human spirit, body, mind and emotions a holistic approach to
happiness and overall wellness.
ii) Social entrepreneurs : a person who establishes an enterprise with the
aim of solving social problems or effecting social change
iii)Edupreneurs :can be defined as educational entrepreneurs who plan,
open and successfully operate educational services

Type of Entrepreneur
Classification according to motivation of entrepreneur.
Pure entrepreneur.
Induced entrepreneur.
Motivated entrepreneur.
Spontaneous entrepreneur.
Classification according to growth.
Growth entrepreneur.
Super growth entrepreneur.
Classification according to stages of development.
First generation entrepreneur.
Modern entrepreneur.
Classical entrepreneur.

Types of Entrepreneurs
Classification based on the Timing of Venture Creation
Early starters- starts with little or no full time work experience

like Suhas Gopinath at the age of 14.
Experienced- who spent a few years working in the family biz

or in some other large company. For eg. Narayan Murthy when
he was 35 years old.
Mature Who were very senior professionals, some at the level

of CEO. Qit their jobs & probably because they have very high
confidence in their abilities. For eg. Ashok Soota & Subroto
Bagchi who quit wipro to start Mindtree.
Based on Socio-Cultural Variable
First Generation Entrepreneurs No family biz & only fom

salaried family. For eg. Dhirubhai Ambani to Narayan Murthy
Entrepreneurs from Business Families Marwadi, Gujrati,

Parsee. So that TATAs, BIRLA, Singhanias are all from such
business communities.
Women Entrepreneurs recent phenomenon in India, For eg,

Kiaran Majumdar Shaw, Shahnaz Hussain.

Based on Entrepreneurial Activity
Novice who starts first venture but differ from early starter
as in this vovice can also be a 50 year old with over 25 years
of exp in the industry.. For eg. Vishamber Saran from Visa
Steel
Serial Entrepreneur who is devoted to one venture at a

time but ultimately starts many. Rakesh Mathur an alumus if
IIT B, has started a firm called Webaroo which enables easy
oofline surfing of the net. Some graet ventures like Armedia,
Purple Yogi & Junglee, sells off his ventures before moving
onto the next one. Junglee has been sold to Amazon.

THE ENTREPRENEURSHIP PROCESS
(Capturing opportunity without owning resources)
ACQUIRING
SPOTTING RESOURCES
OPPORTUNITY
IDENTIFYING MANAGING
RESOURCES VENTURE

Stages of Entrepreneurial Process
Conducting Opportunity Analysis.
Developing the plan and setting up the company.
Acquiring financial partners and sources of funding.
Determining resources required and implementing

the plan.
Scaling and harvesting the venture.

Entrepreneurial Process
1. Identify and Opportunity

evaluate the
opportunity
2. Develop Business
Plan
3. Determine and Entrepreneur

attract resources 4. Lead and manage
required resulting enterprise
Resources
Organisation

Entrepreneurs V. Intrapreneurs
Entrepreneurs are people that notice

opportunities and take the initiative to
mobilize resources to make new goods
and services.
Intrapreneurs also notice opportunities

and take initiative to mobilize resources,
however they work in large companies
and contribute to the innovation of the
firm.
Intrapreneurs often Supreet

become
MBA IV :Entrepreneurship Development
Juneja Wahee Slide 57
Intrapreneurship
Learning organizations encourage

intrapreneurship.
Organizations want to form:
Product Champions: people who take ownership of a
product from concept to market.
Skunkworks: a group of intrapreneurs kept separate
from the rest of the organization.
New Venture Division: allows a division to act as its
own smaller company.
Rewards for Innovation: link innovation by workers to
valued rewards.

ENTREPRENEURSHIP INTRAPRENEURSHIP
Entrepreneurship: is the tendency of a Intrapreneurship is the practice
person to organize his own business
of entrepreneurship by employees
and run it profitably, exploiting
qualities of leadership ,decision- within an organization.
making and managerial calibre. An intrapreneur is an individual
According to John K. Howard Stevenson employed by an organization for
Entrepreneurship is the attempt to remuneration, which is based on
create value through recognition of the financial success of the unit he
business opportunity, the management is responsible for.
of risk-taking appropriate to the
opportunity, and through the
communicative and management skills
to mobilize human ,financial and
material resources.

Comparison of Traditional Managers, Entrepreneur
And Intrapreneur
Primary motive
Risk
Activity
Skills
Attitude towards risk
.Decision
Operations
Attitude towards courage and destiny

And Intrapreneur
TRADITIONAL MANAGER ENTRAPRENEUR INTRAPRENEUR
1.Primary motive Wants promotion and other traditional Wants promotion and other Wants freedom and access to
corporate rewards power motivated, traditional corporate rewards corporate resources, goal oriented
power motivated, and self motivated, but also
responds to corporate rewards and
recognition.
2.Risk Careful, completely avoid risk activities such Moderate risk taker Not fully risk taker, he tends to
as risk projects hide risky projects until there are
on lower level of risk
3.Activity Delegates and supervises more than direct Direct involvement Direct involvement more than
involvement delegation
4. Skills Professional management ; often business Knows business intimately; Professional management ; often
school trained; uses abstract analytical tools, more business acumen then business school trained; uses
people-management and political skills managerial or political skills; abstract analytical tools, people-
often technically trained if in management and political skills
technical business; may have along with business acumen
had profit and loss
responsibility in the company,
5. Attitude towards ,Cautions, Likes moderate risk; Like moderate risks;

risk invests heavily but generally not afraid of
expects to succeed being fired, so sees little
personal risk

And Intrapreneur
TRADITIONAL MANAGER ENTRAPRENEUR INTRAPRENEUR
6.Decision Usually agrees with those in upper Follow dreams with Follow dream but able to
management decisions get others to agree to help
in achieving the dream
7.Operation Involves in functional operations
Operates from inside Operation from within the
or outside depending organization
on firms size
8. Attitude Sees others being in Self confident, Self confident and
towards charge of his or her optimistic and courageous; many
courage destiny; can be forceful and courageous, are cynical about the
and destiny ambitious but may be system but
fearful of others ability to optimistic about their
do him or her in, ability to outwit it.

Theories Of Entrepreneurship



Austrian economist Joseph Schumpeter 's definition of

entrepreneurship placed an emphasis on innovation, such as:
new products
new production methods
new markets
new forms of organization
Wealth is created when such innovation results in new
demand. From this viewpoint, one can define the function of
the entrepreneur as one of combining various input factors in
an innovative manner to generate value to the customer with
the hope that this value will exceed the cost of the input
factors, thus generating superior returns that result in the
creation of wealth.



Barriers to Entrepreneurship
Barriers
Economic
to Entrepreneurship
Personal
Economic Barriers
Capital: It helps mobilize other resources like

men, materials and machines.
Labour: quality matters rather than quantity.
Raw material: In Its absence no enterprise can
be established

Environmental Non economic
barrier
Cultural block
Practical values: should initiate innovation and
creativity.
Respect for entrepreneurs
Social status
Traditionalism: Binding tradition represent a
substantial block to change and progress
Emotional block: Fear of failure or fear of
making mistakes

Personal barriers to
Entrepreneurship
Lack of sustained motivation

Difficulty with ambiguity: To be able to
tolerate chaos and deal with
uncertainties
Inability to dream
Impatience in solving problems
Lack of clear perception: Failure to sees
an opportunity

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ENTREPRENEURSHIP

Big Wins Require Big Risks :Bill Gates

Internal and External Factors

Describe the Functions performed by an entrepreneur

Define Intrapreneur and distinguish between an Manger and

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 2

Entrepreneurship is the process of creating something new of value

By accepting and acknowledging the necessary financial,

Finally receiving the resulting rewards be it monetary and personal

Entrepreneurship is the creation of new business

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 4

J.B. Say: one who combines the land of one, labour of

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 5

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 6

He or she is an individual who actively form or lead their

A person who creates and manages change by the

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 7

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 11

An aptitude is a natural ability to do a particular

Strong Managerial Successful

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 15

Entrepreneurs are Made, Not Born!

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 16

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 17

Need for Achievement

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 18

Desire for Independence

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 19

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 20

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 21

Many entrepreneurs demonstrate strong

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 22

Business Plan A step-by-step outline of how an

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 23

What are my motivations for owning a business?

Should I start or buy a business?

What and where is the market for what I want to

How much will all this cost me?

Should my company be domestic or global?

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 24

Deciding what your motivations are will direct

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 25

Small company that provides its owner

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 26

Small company not concentrated on pushing the

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 27

Goal is maximum profit and growth.

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 28

Start cheapest, but very difficult

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 29

They are born not made

They are always inventors

They are academic and social misfits

They are extreme risk takers

All entrepreneurs need is money

Entrepreneurs must fit theProfile

They need luck

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 31

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 32

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 33

HUMAN RESOURCE ENTERPRENEUR SALES/MARKETING

Risk and uncertainty bearing.

MBA IV :Entrepreneurship Development Supreet Juneja Wahee Slide 37