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Entrepreneurial 4

Skills-IV

Learning Objectives
Entrepreneur and Entrepreneurship Types of Entrepreneurs
Functions of an Entrepreneur What Drives an Entrepreneur's Motivation?
Identifying Possibilities and Taking Risks Startups
Barriers to Entrepreneurship Entrepreneurial Attitudes
Entrepreneurial Competencies Entrepreneurial Competencies in Particular

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 new firm. The process of boosting
entrepreneurial skills and expertise through systematic training and institution-building programmes is called
entrepreneurship development. It focuses on a single person who aspires to establish or extend a business.
Entrepreneurs with great potential need to be nourished and supported in order to act as role models as well
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 examination
of local conditions and their own abilities.
Training in entrepreneurship development should include support for:
• Entrepreneurship orientation and awareness.

• Development of competencies (knowledge, skills and attitudes) required to recognise a market
opportunity and organise resources to meet it and take corrective actions to achieve goals.

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