ENTREPRENEURSHIP- CONCEPT

ENTREPRENEURSHIP
- CONCEPT

Prepared by
CHARAK RAY
libra.charak@gmail.com

Entrepreneurship is the act of being an entrepreneur, which
can be defined as "one who undertakes innovations, finance
and business acumen in an effort to transform innovations into
economic goods". This may result in new organizations or may
be part of revitalizing mature organizations in response to a
perceived opportunity. The most obvious form of
entrepreneurship is that of starting new businesses (referred
as Startup Company); however, in recent years, the term has
been extended to include social and political forms of
entrepreneurial activity. When entrepreneurship is describing
activities within a firm or large organization it is referred to
as intra-preneurship and may include corporate venturing,
when large entities spin-off organizations.
According to Paul Reynolds, entrepreneurship scholar and
creator of the Global Entrepreneurship Monitor, "by the time
they reach their retirement years, half of all working men in
the United States probably have a period of self-employment

Concept of Entrepreneurship
It has assumed super importance for
accelerating economic growth both in
developed and developing countries. It
promotes capital formation and creates wealth
in country. It is hope and dreams of millions of
individuals around the world. It reduces
unemployment and poverty and its a pathway to
prosper. Entrepreneurship is the process of
searching out opportunities in the market
place and arranging resources required to
exploit these opportunities for long term
gains. It is the process of planning,
Charak Ray 12/15/2012 3

An entrepreneur is a person who has possession of a new
enterprise, venture or idea and is accountable for the inherent
risks and the outcome. The term was originally a loanword from
French and was first defined by the Irish-French economist
Richard Cantillon. Entrepreneur in English is a term applied to
a person who is willing to launch a new venture or enterprise and
accept full responsibility for the outcome. Jean-Baptiste Say, a
French economist, is believed to have coined the word
"entrepreneur" in the 19th century - he defined an entrepreneur
as "one who undertakes an enterprise, especially a
contractor, acting as intermediary between capital and labour".
A broader definition by French Economist J.B. Say (1800)
"The entrepreneur shifts economic resources out of lower and
into higher productivity and greater yield."
Charak Ray 12/15/2012 4

The spirit of entrepreneur ship helps the
individual to grow. It brings out the multifaceted
talents latent in him. It helps in
 the art practicing innovative ideas, products and
services out of the knowledge available in him
Facing challenges
Planning enterprises
Improving the inter-personals kills
Studying markets
Charak Ray 12/15/2012 7

Understanding financial systems
Management of products and services
Developing administrative and managerial
skills
Understanding and appreciating the concept of
quality
Social transformation
Being a part of a dynamic and competitive
society
Further ,he is contributing indirectly to the social
progress, national economy, in improving the
standard and the quality of the people.
Charak Ray 12/15/2012 8

Action it within 24hrs to make sure you never lose the original idea.

Your attitude determines your altitude.

Think BIG start small.

Change is constant.

It is up to me if it is going to be.

You get what you think about most of the time.

Whether you believe you can or you believe you can’t, you’re right.

A man with no plan is likely to get there.

Whatever can be conceived and believed in the mind of man can be achieved.
Charak Ray 12/15/2012 17

ENTREPRENEURSHIP- CONCEPT

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