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ENTREPRENEURIAL SKILLS-IV 4
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 take corrective actions to achieve goals.
c. Improving business performance is essential for achieving growth and maintaining competitiveness.
Motivation plays a key role not only in enhancing aspiring entrepreneurs' drive for success but also in
developing crucial skills such as coping with challenges, tolerating ambiguity, and influencing others
effectively.
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.
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