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UNIT-4
ENTREPRENEURIAL SKILLS-IV
Learning Outcomes
• Entrepreneur and Entrepreneurship • ypes of ntrepreneurs
• unctions of an ntrepreneur • hat Drives an ntrepreneur's otivation
• Identifying ossibilities and aking isks • tartups
• arriers to ntrepreneurship • ntrepreneurial Attitudes
• Entrepreneurial Competencies • ntrepreneurial ompetencies in articular
Entrepreneurs recognise an invention in order to capitalise on an opportunity, mobilise money, raise capital, and take
calculated risks in order to establish a market or start a ne firm. he process of boosting entrepreneurial skills and
e pertise through systematic training and institution building programmes is called entrepreneurship development.
It focuses on a single person ho aspires to establish or e tend a business. ntrepreneurs ith great potential need
to be nourished and supported in order to act as role models as ell as community mentors. An entrepreneurship
development programme acts as a means of assisting budding entrepreneurs in recognising and designing one of a
kind distinctive business possibilities by an e amination of local conditions and their o n abilities.
raining in entrepreneurship development should include support for
a. entrepreneurship orientation and a areness
b. development of competencies kno ledge, skills and attitudes) required to recognise a market opportunity and
organise resources to meet it and
c. improvement of business performance for gro th and competitiveness. otivation, in addition to improving
potential entrepreneurs' desire for success, also aids in the development of coping skills, tolerance for ambiguity
and in uencing ability.
he ational Institute for ntrepreneurship and mall usiness Development is a agship organisation of the overnment
of India's inistry of kill Development and ntrepreneurship that provides training, consulting and research to encourage
entrepreneurship and skill development. he Institute's main activities include trainer training, management development
programmes, entrepreneurship cum skill development programmes, and cluster intervention.
Entrepreneur and Entrepreneurship
he term entrepreneur is derived from the rench ord entreprendre, meaning to undertake. ntrepreneurship,
according to ole, is a planned action to begin, sustain and e pand a profit oriented enterprise.
ntrepreneurship, according to tevenson and arillo, is the process by hich individuals seek opportunities regardless
of the resources they no possess.
E ntre pre ne uri al S ki l l s- IV 79

