em lect 2-- entrepreneurship

8/22/2019 EM Lect 2-- Entrepreneurship

1/11


2/11

It involves not only the process that leads to the setting up of abusiness entity but also the expansion and development of anon going concern.

The study of entrepreneurship is concerned with theentrepreneurial behavior, the dynamics of business set up and

expansion and development. It is a process of innovation and new venture creation.

Process of creating something new and assuming the risks

and rewards.


3/11

Propensity of mind to take calculated risks with confidence toachieve a

predetermined business or industrial objective.

Requires correct decision making.

Entrepreneur

Person

Entrepreneurship

Process ofaction

Enterprise

Object


4/11

Richard Cantillon ( 1730); Self-employment of any sort.They buy at certain prices in the present and sell at

uncertain prices in the future. He bears uncertainty.

Jean Baptiste Say (1816); Entrepreneur is an agent "who

unites all means of production and who finds in the value

of the products...the reestablishment of the entire capitalhe employs, and the value of the wages, the interest, and

rent which he pays, as well as profits belonging to

himself.

Frank Knight (1921); They attempt to predict and act uponchange within markets. Knight emphasize his role in

bearing the uncertainty of market dynamics. They are

required to perform such fundamental managerial

functions as direction and control.


5/11

Entrepreneurship is the process of creating

something new with value

--- By devoting the necessary time and effort

--- Assuming the accompanying financial, psychic, and

social risks

---- Receiving the resulting rewards of monetary and

personal satisfaction of independence.

Robert Hisrich


6/11

Entrepreneurship is an act of initiative, drive, commitment,

diligence, perseverance, organized effort, and

achievement outlook, to undertake some specific

functions of performing productive activities and the

capacity to bear and associated with the investment.Economic Policy Paper on Entrepreneurship

Development through Educational Reform-Bangladesh


7/11

Institutes of national importance that have been setup

through an act of parliament (IITs, IIMs, NITs, AIIMS, IISc

etc.) are the main leaders in the field of knowledge

transfer.

Examples:

o Organizing Competitions like Great Idea, helping

and incubating ideas.

o IIT Kharagpur: Nina Saxena Excellence in Technical

award (Yearly).


8/11

1. Centre for Innovation, Incubation& Entrepreneurship

(CIIE) - IIM AhmedabadSet up in 2001

Since inception CIIE has 15-odd innovations grow out of the

incubation centre in varied technologies

2. Society for Innovation and Entrepreneurship (SINE)- IIT

Bombay

Set up in 2004

3. Technology Business Incubator (TBI) - BITS Pilani

In association with DST, BITS has established Technology

Business Incubator in the area of embedded systems and

VLSI design back in 2004

So far, TBI has helped spawn ten companies.


9/11

4. Cell for Tech Innovation, Development & entrepreneurship

support- IIT ChennaiSet up in 2000

Organises national level competitions, Breakthrough (general

business plan competition) and Genesis (social

entrepreneurship plan competition)

5. Society for Innovation and Development (SID) - IISc,

Bangalore

Set up in 2006

The investigator is given a seed capital for Rs 20 lakh a year

for two years assoft loan for the approved plan

6. The SP Jain Centre for Entrepreneurship Development-

SPJIMR

16-week 'Start Your Own Business' programme-a public


10/11

7. Technology Incubation and Entrepreneurial TrainingSociety (TIETS)

IIT Kharagpur

Set up in 2005, So far, the institute has been able to

incubate two companies through Concipio over the lastthree years. Besides, an in house panel has helped 11-

12 ventures take wing


11/11

Biocon Ltd and Indian School of Business (ISB) have

launched a cell for innovation management.

Hewlett-Packard (HP) India recently announced the

winners of the second annual edition of HP innovate

2009. The award has been instituted to recognise and

reward outstanding creative ideas of young engineering

graduates in India.

em lect 2-- entrepreneurship

Documents