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UNIT-4





                                                             ENTREPRENEURIAL SKILLS-IV

















                               Learning Outcomes



                   •  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:
                 a.   entrepreneurship orientation and awareness
                 b.    development of competencies (knowledge, skills and attitudes) required to recognise a market opportunity and
                     organise resources to meet it and
                 c.    improvement  of  business  performance  for  growth  and  competitiveness.  Motivation,  in  addition  to  improving
                     potential entrepreneurs' desire for success, also aids in the development of coping skills, tolerance for ambiguity
                     and influencing ability.
                 The National Institute for Entrepreneurship and Small Business Development is a flagship organisation of the Government
                 of India's Ministry of Skill Development and Entrepreneurship that provides training, consulting and research to encourage
                 entrepreneurship and skill development. The Institute's main activities include trainer training, management development
                 programmes, entrepreneurship-cum-skill development programmes, and cluster intervention.


                        Entrepreneur and Entrepreneurship

                 The  term  ‘entrepreneur’  is  derived  from  the  French  word  entreprendre,  meaning  “to  undertake.”  Entrepreneurship,
                 according to Cole, is “a planned action to begin, sustain and expand a profit-oriented enterprise.”
                 Entrepreneurship, according to Stevenson and Jarillo, is “the process by which individuals seek opportunities regardless
                 of the resources they now possess.”
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