Chapter 01 Entrepreneurs and Entrepreneurship.ppt - Chapter...

Chapter 1
Entrepreneurs and
Entrepreneurship

The nature and development of
Entrepreneurship

The word Entrepreneur stems from French word
“Entreprendre” and coined by Richard Cantillon
which means between-taker or go between.

The dictionary meaning of an entrepreneur is a
person who takes certain risk against a
business.
2

The nature and development of
Entrepreneurship

This is an Entrepreneurial age

Entrepreneurs are driving a revolution that is transforming and renewing
economies worldwide

They generate most of the new economies
–
Almost 23256 people move to entrepreneurship per day
–
Overall earnings estimated at US $951 billion per year
–
Most new businesses opt for
•
Computer technology (41.2% web portals)
• ISPs (16.6%)
•
Nail Salons and Parlors (18%)
•
Electronics (12%)
•
Vehicle dealers (12.1%)
•
Landscaping services (11.1%)
3

The nature and development of
Entrepreneurship

Entrepreneurship has long been described by
researchers and writers with terms such as:

new, innovative, flexible, dynamic, creative, and risk
taking.

and many authors have said that identifying and
pursuing opportunities is an important part of
entrepreneurship.
4

The nature and development of
Entrepreneurship

Earliest Period:
–
In the earliest period of entrepreneurship, we find out a
person whose name was Marco Polo who came to China
from Europe and told the Chinese people about his culture
and brought some stories for economic conditions and
social conditions.
–
Marco Polo’s determination can be labeled as
Entreprepreneurship Because Marco Polo took much risk
and has gone from one country to another to do something
new

The nature and development of
Entrepreneurship

(2) Middle Ages/Entrepreneurship:
–
In this stage entrepreneurs made contracts with the
govt. or some other persons.
–
In the middle ages entrepreneurs were used to be
called the actors and persons who manage large
production process projects . Entrepreneur was
basically a creator.

The Nature and Development of
Entrepreneurship

In the middle ages, we can find a person whose
name was Cleric . He was a person who was
responsible for major constructions, cathedrals,
buildings, castles etc. Basically, he was a great
entrepreneur.

As well as in Asia, Mughals also created Taj
Mahal, Shalimar Gardans, Badshahi Mosque
and Forts etc.

The nature and development of
Entrepreneurship

(3) 17
th
Century:
–
In this stage, entrepreneurs used to do contracts with
govt on fixed price. Here, we can give an example of a