Innovations Organizations Organizations Businesses Startup Company

Entrepreneur vs Entrepreneurship
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.
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.[1][note 1]. The entrepreneur leads the firm or
organisation and also demonstrates leadership qualities by selecting managerial staff. Management
skill and strong team building abilities are essential leadership attributes for successful
entrepreneurs.
Characteristics of successful entrepreneurs
They are highly self-confident individuals with extremely high standards. They are hard-driving,
emotionally charged, overly energetic people, who will judge both themselves and their employees
harshly when even minor mistakes are made.
Need for entrepreneurship development
Entrepreneurship development must be massively supported because it has the potential

to achieve the following:
1) Create jobs through the formation of new business ventures.

2) Utilize available manpower and resources that might have remain idle and put them
into productive use.
3) Entrepreneurship development makes it possible for individuals to create wealth,
independence and status for themselves.
4) Stimulates growth in other sectors with increase in demand and supply.
5) Increases productivity by means of innovation.
6) Facilitate and increase the need for technology.
7) Boost the economy and increases the nation's GDP.
Entrepreneurship as a Career
Entrepreneurship: The Profession

The lack of opportunities in the formal secors has driven many young people to strike our on their own. Many
youngsters are leaving their their good paying jobs to establish their own small entrepreneurial ventures. This is
the sector which is gworing the fastest today. The big money in the long run and the freedom to choose their own
rainbows are, of course, major guiding factors. Today, the scope and variety of self-generated work is unlimited.
Home ventures too offer enormous opportunities for the enterprising. The range of options for self generated
work in immense and many of these can even be conducted from home.
It can be divided majorly into three activities:

1. Providing service
2. Selling something
3. Manufacturing (making)
Providing a service requires the least capital and involves less risk. These services are based on using one's
time, skills and possibly any specialized training received. This can cover a large range of activies from freelance
writing for magazines and journals to providing beauty care services or providing potted plants for homes or
offices. Professionals in law, accountancy, system analysis, or even creative professionals such as copywriters,
journalists and so on can be their own bosses while working independently for large organizations.
Selling or Markeing overlaps with both manufacturing and providing services. It could involved making something
at home and delivering it to some clients. Or setting up some exibitions for the same. Selling involves more initial
organization and business know-how, capital and risk than service venture.
Manufacturing covers anything from making children's clothes to high-tech components for industry.
Manufacturing usually requires more skill, capital and risk than service and selling. You may need a physical
primise for production.
Entrepreneurship is the practice of embarking on a new business or reviving an existing business by

pooling together a bunch of resources, in order to exploit new found opportunities.
What is Intrapreneurship?: Intrapreneurship is the practice of entrepreneurship by employees

within an organization.
Difference between an entrepreneur and an intrapreneur:

An entrepreneur takes substantial risk in being the owner and operator of a business with
expectations of financial profit and other rewards that the business may generate. On the contrary,
an intrapreneur is an individual employed by an organization for remuneration, which is based on
the financial success of the unit he is responsible for. Intrapreneurs share the same traits as
entrepreneurs such as conviction, zeal and insight.

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Entrepreneur vs Entrepreneurship

An entrepreneur is a person who has possession of a new enterprise, venture or idea and is

Characteristics of successful entrepreneurs

Need for entrepreneurship development

Entrepreneurship development must be massively supported because it has the potential

1) Create jobs through the formation of new business ventures.

Entrepreneurship: The Profession

It can be divided majorly into three activities:

Entrepreneurship is the practice of embarking on a new business or reviving an existing business by

What is Intrapreneurship?: Intrapreneurship is the practice of entrepreneurship by employees

Difference between an entrepreneur and an intrapreneur:

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