Entrepreneurial Mindset Unit 1
Entrepreneurial Mindset Unit 1
Entrepreneurial Mindset Unit 1
• Innovation- It is the hub of innovation that provides new product ventures, market, technology
and quality of goods, etc., and increase the standard of living of people.
• Impact on Society and Community Development- A society becomes greater if the employment
base is large and diversified. It brings about changes in society and promotes facilities like higher
expenditure on education, better sanitation, fewer slums, a higher level of homeownership.
Therefore, entrepreneurship assists the organization towards a more stable and high quality of
community life.
• Increase Standard of Living- Entrepreneurship helps to improve the standard of living of a person
by increasing the income. The standard of living means, increase in the consumption of various
goods and services by a household for a particular period.
• Supports research and development- New products and services need to be researched and
tested before launching in the market. Therefore, an entrepreneur also dispenses finance for
research and development with research institutions and universities. This promotes research,
Entrepreneurship: the
activity of organizing,
managing, and assuming
the risks of a business or
enterprise.
Entrepreneur: an
entrepreneur is a person
who engages in the
activities mentioned
above.
Introduction, Identifying Ideas &
Business Opportunities
Learn the tools of setting
up new enterprises.
Dhirubhai Ambani
• PERSON • PROCES
S
• VISUALIZER
• VISIO
N
• CREATOR
• CREATION
• ORGANIZER
• ORGANISATIO
• INNOVATOR N
• PLANNER • INNOVATION
• LEADER • PLANNIN
G
• LEADERSHI
P
Theories of Entrepreneurial
Theory of social Change
Challenges for Indian Entrepreneurs