EDP LECTURE 2

                                              MARWARI COLLEGE,RANCHI

                                       (UNDER RANCHI UNIVERSITY,RANCHI)

NAME :RAJU MANJHI
SUB: EDP

SEM : V (IT/CA/CM)
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characteristics of entrepreneur

1. An entrepreneur has to have mental ability, which consists of intelligence and creative thinking. He must be reasonably intelligent and should have creative thinking and should be able to engage in analysis of various problems and situations in order to deal with them. He should be able to anticipate the situation in order to prepare for tomorrow. (Creative thinking: think differently.)

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2. He must have a clear objective of the nature of the business, the nature of the goods to be produced, and the activities to be undertaken. He may have the objective to establish, to make profit, or to render service.
3. Business secrecy: This is very important. In this competitive world an entrepreneur has to maintain secrecy regarding policies and finer details.
4. Human relation ability: Entrepreneur is a person who must have emotional stability, consideration and tactfulness. This is only possible when he has ability to maintain human relation.
5. Communication ability: Unless he is a good communicator he will not be able to understand the problem of the employee and solve it effectively.

 

Importance and scope of entrepreneurship.

Entrepreneurship is an important activity, which leads to economic development. Moreover it helps in regional development. In the name of entrepreneurial activity more small-scale industries are developed and when there is diversity in these small-scale industries there is more growth in society leading to economic growth.

The need for a broad based entrepreneurial class in a country like India arises from the need to speed up the process of activating entrepreneurial development process, leading to higher rate of economic growth, dispersal of economic activity, development of backward or tribal areas, creation of   improvement in the standard of living of the weaker section of the society and involvement of all sections in the development process.

Its now well recognized that entrepreneurs can be developed through appropriately designed entrepreneurship programs. These programs are broad in visage and have a 3-tired approach:

1.       Developing achievement motivation and sharpening entrepreneurial trends and behavior. (Achievement motivation - motivation to achieve more.)

2.       Project planning and development and guidance on industrial opportunity, incentives and facilities and rules and regulation. Planning is very important and requires foresight.

3.       Developing managerial and operational capabilities.

Various techniques and approaches have been developed and adopted to achieve these objectives keeping in view the target groups and areas. This is possible through an appropriate method of selection of the prospective entrepreneur and providing support services after group training to them to develop a different entrepreneurial class.

Difference between entrepreneur and entrepreneurship.

1.       It refers to a person.	1.       Refers to a process.
2.       Motivator.	2.       Motivation.
3.       Innovator.	3.       Innovation.
4.       Risk taker.	4.       Risk taken.
5.       Programmer.	5.       Action.
6.       Initiator.	6.       Initiative.
7.       Creator.	7.       Creation.
8.       Organizer.	8.       Organization.
9.       Technician.	9.       Technology.
10.    Decision maker.	10.    Decision.
11.    Planner.	11.    Planning.
12.    Leader.	12.    Leadership.
13.    Communicator.	13.    Communication.
14.    Administrator.	14.    Administration.
15. Visualize	15.    Vision.