1. Entrepreneurship & New Venture Creation-(3.1) BU-MBA-Semister-3

3. It means the person who undertakes the risk of the new enterprise

5. Discover new sources of materials

6. Mobilize capital resources

7. Introduce new technologies

8. Create employment

9. Entrepreneur is a key player in economic progress

10. Entrepreneurs introduce new things in the economy

12. Independence (start business their own)

13. Risk bearing (ready to face uncertainty)

14. Locus of control (governing and shaping the goals with high control)

15. Determination (working sincerely on goal achieving)

16. Positive self-concept (thinking positive and analyze anything by SWOT analysis)

17. Ability to find and explore opportunities (finding/grab opportunities)

18. Hope success (feeling success in each and every step they move no failure)

19. Flexibility (measuring pros and cons of decision and tend to change if situation demands)

20. Analytical ability of mind (unaffected by personal likes and dislikes)

22. Confronting uncertainty (they are always optimistic, they take odd as the opportunity)

23. Interpersonal skills (they like dealing with people at all levels)

24. Need to influence others (they influence the others by their goals and their procedures/convince others)

25. Stress takers (ready to work for long hours with full energy)

26. Time orientation (they will stick on to the time, time is important)

27. Innovators (they will introduce new products and services)

28. Business communication skill (they must have good communication to lead market)

29. Telescopic ability (they will think every activity in microscope)

30. Leadership (they will act as leaders to lead business)

31. Business planning (they will plan present and future course of action)

32. Decision making (they have quick decision making ability)

33. Ability to mobilize resources (they will mobilize 6-M’s: Man, Money, Machinery, Market and Method)

35. Role of Entrepreneur

37. Time management

38. Vision and leadership

39. Ethics and morals

40. Discipline yourself

41. Highly motivated and energetic

43. Search for new ideas and innovation

44. Openness to change

45. Competitive by nature

47. Entrepreneurship ethics are the moral principles which should govern the entrepreneurship activities.

48. It also referred business ethics

49. Business ethics refers to the application of ethics to business

51. An Entrepreneur will treat the environment as a silent ‘stakeholder’, a party to which they are wholly accountable

52. An Entrepreneur will protect the privacy rights of the suppliers, customers and employees

54. Entrepreneurs are profit Hungry and Exploit(hard work done by Labor)

55. Entrepreneurs are Dishonest(fraud & cheating)

56. Entrepreneurs are favored by luck

57. Only Rich people can become entrepreneurs

59. According to A.H.Cole,” Entrepreneurship is the purposeful activity of an individual or a group of associated individuals, undertaken to initiate, maintain or maximize wealth, profit by production or distribution of economic goods and services

60. Entrepreneurship = Entrepreneur + Enterprise (Process) (Person) (Object)

62. Decision making

63. Accepting challenges

64. Risk taking

65. Building organization

66. Dynamic process (bring new opportunities)

67. Gap filling function (filling goods and services to society)

68. Skillful management

69. Innovation

70. Mobilization of resources

72. Factors Affecting EntrepreneushipInternal Factors

73. External Factors

76. The decision to form new venture

79. Socialism

82. Balanced Regional Development

83. Bringing Change in Structure of Business and Society

84. New Products, New Services and New Business

85. Dispersal of Economic Power

86. Better Standards of Living

87. Creating Innovation

90. Lack of identification of projects

91. Lack of infrastructure

92. Lack of quality control

93. Lack of market promotion

94. Lack of technology

95. Lack of finance

97. To satisfy the dream of having high financial rewards

98. Opportunity to deal with all aspects of a business

99. Achievement orientation

100. Implantation of Ideas

101. Insecurity of Job

102. Family Business

103. Risk Taking

104. Government Economic Policy (Assistance from Government)

107. Similarly, in the next 10 years, 110-130 million Indian citizens will be searching for jobs, including 80-100 million looking for their first jobs.

108. This does not include disguised unemployment of over 50% among the 230 million employed in rural India.

110. It is rightly believed that India has an extraordinary talent pool with virtually limitless potential to become entrepreneurs.

111. Therefore, it is important to get committed to creating the right environment to develop successful entrepreneurs.

114. Individuals are being encouraged to form new businesses and are being provided such government support as tax incentives, buildings, roads, and a communication system to facilitate this creation process.

115. The encouragement by the central and state governments should continue in future as more lawmakers are realizing that new enterprises create jobs and increase the economic output of the region.

116. Every state government should develop its own innovative industrial strategies for fostering entrepreneurial activity and timely development of the technology of the area.

118. This support is critical in providing both motivation and public support.

119. A major factor in the development of this societal approval is the media.

120. The media should play a powerful and constructive role by reporting on the general entrepreneurial spirit in the country highlighting specific success cases of this spirit in operation.