This document defines key concepts related to entrepreneurship including the concept of entrepreneurship as a creative and innovative activity. It outlines the evolution of entrepreneurship from army leaders in the 16th century to innovators in the 21st century. Characteristics of entrepreneurship are listed such as innovation, achievement, managerial skills. Causes of entrepreneurship failure and examples of successful real-world entrepreneurs are also provided.

2.  Concept of Entrepreneurship,
 Concept of Entrepreneur,
 Evolution of Entrepreneurship,
 Characteristics of Entrepreneurship,
 Importance of an Entrepreneurship,
 Causes of failure of the
Entrepreneurship,
 Some of the Real Entrepreneurs.

3. Concept of Entrepreneurship :
Entrepreneurship is essentially a creative activity
or it is an innovation function. The process of
innovation may be in the form of
 Introduction of a New Product,
 Use of a New Method of production,
 Opening of a New Market,
 The conquest of New Source of supplying Raw
Materials,
 A New Form of Organization.
-
Joseph A. Schumpeter.

4. Concept of an Entrepreneur :
 It refers to a Person,
It refers to a Creator,
It refers to a Organizer,
It refers to a Decision Maker,
It refers to a Initiator,
It refers to a Leader,
It refers to a Motivator,
It refers to a Risk Taker .

5. Evolution of Entrepreneurship :
 16th century: Army Leaders,
17th century: Became common topic,
 18th century: Dealer who buys & sells
goods,
1961: The term used as Innovator.

6. Characteristics of Entrepreneurship :
o Function of Innovation,
o Function of High Achievement,
o Function of Group Level Patterns,
o Function of Managerial Skills & Leadership,
o A Gap Filling Function,
o Function of Status Enhancement,
o Function of Social, Political, & Economic,
o Function of Religious Beliefs.

7. Importance of Entrepreneurship:
 Reduces Poverty Level,
 Increases Employment,
 Fulfills the Demand of people,
 Helps to develop Economic Condition of a country.

8. o Lack of visible concept,
o Lack of market knowledge,
o Lack of technical skill,
o Lack of seed capital,
o Lack of business knowledge,
o Complacency--- Lack of motivation,
o Social Stigma,
o Time pressure & distractions,
o Legal constraints & regulations,
o Monopoly & protectionism,
o Inhibitions due to patents.

10.  Chairman of Wipro
Technologies (one of
the largest software
company in India)
 Honored with
Padma Bhushan in
2005.

11.  Founder of
Reliance Company.
 Built India’s
largest private
sector company.

12.  Chairman of “Tata & Sons”
 Launched Air India
International.
 Received Bharat Ratna in 1992.

13.  Father of Green
Revolution in Asia.
 Researcher of Plant
Breeder & Cytogeneticitis.

14.  Founder of Infosys
Technologies Limited.
 Chosen as World
Entrepreneur of the
Year 2003.
 Non-Executive
Chairman & Chief
Mentor of Infosys.

15. Chairman of Bajaj Group.
 One of the most
distinguished
business leaders.

16.  Chairman & Managing
Director of Bharati
Group.
 India’s largest GSM-
based mobile ph service
provider.
 IT Man of the Year
Award 2002.
 CEO of the Year: 2002
 Called as originator of
cellular phone
revolution in India.

17.  Founder of Shahnaz Hussain
Product.
 Awards:
1. “The Arch of Europe Gold Star
for Quality”.
2. “One of The Leading
Entrepreneur in the World”.
3. “The 2000 Millennium Medal of
Honor”

18.  Father of the White Revolution.
 Award:
1. Padma Shri in 1965.
2. Padma Bhushan in 1966.
3. Padma Bibhushan in 1999.
4. Chairman of GCMMF.
5. Called as milkman of India.

19.  Founder of Apple
Computer.
 Founder of Pixar, Next also.