It includes the concept of entrepreneur as well as there traits, their competencies, skills and functions along with the myths about them.

1. Contents
 Concept of Entrepreneur
 Traits (Characteristics) of Entrepreneurs
 Competencies and Skills of Entrepreneurs
 Functions of an Entrepreneur
 Myths about Entrepreneurs

2. Entrepreneur

3. Entrepreneur
Acts upon
Opportunities
Innovates
Undertakes
RISK
Raises
Capital
Takes
Decisions
Motivated
Welcomes
Change
Plans
Any individual that sees and acts upon an opportunity.
This includes introducing a new product or service,
identifying new markets, or putting a twist on an
existing product, process or service.
Also, includes the raising of capital, taking the risk and
controlling the new venture. Embodies creativity,
aggressiveness, and determination.
By assembling various resources, s/he takes risks and
creates a venture from an idea, hobby, or simply a
dream

4. Entrepreneur
 Person who undertakes the ‘risk’ of a new venture
 Derived from French words,
 Entre meaning ‘between’
 Prendre meaning ‘to take’
 Originally used to describe people who ‘take on the risk’
between buyers and sellers or who ‘undertake’ a task
such as starting a new venture
 An entrepreneur assembles and integrates all
the resources needed, the business model,
the strategy, and the risk bearing ability to
transform an invention into a viable business

5. Definition(s)
 An entrepreneur is an agent who
buys factors of production at certain
prices in order to combine them into
a product with a view to selling it at
uncertain prices in future
- Cantillon
 An economic agent who units all
means of production – land of one,
the labor of another and the capital
of yet another and thus produces a
product. By selling the product in
the market he pays rent on land,
wages to labor, interest on capital
and what remains is his profit
- J. B. Say

6. Traits of Entrepreneurs

7. Traits (Characteristics) of
Entrepreneurs
1. Mental Ability (Intelligence & Creativity)
2. Technical Knowledge
3. Administrative & Organizing Skills
4. Vision & Clarity
5. Business Secrecy
6. Effective Communication
7. Human Relations Ability
8. PR Skills

8. Traits (Contd.)
TRAITS
High Need
Achievement
Risk Taking
Propensity
Tolerance for
Ambiguity
Innovation
Intuition
Internal Locus
of Control
Low need for
Conformity
High need for
Independence
& Autonomy
Proactive

9. Entrepreneurial Skills &
Competencies

10. Entrepreneurial Competencies &
Skills
 Skills
Technical Skills
•Specific Operation Technology
•Communication
•Interpersonal relations
•Organizational ability
•Coordinating Team members
•Environmental Observation
Business
Management
Skills
•Planning
•Formulating Goals
•Decision-making
•Motivating
•Marketing
•Accounting
•Negotiation
Entrepreneurial
Skills
•Inner Discipline
•Risk-seeking
•Innovation
•Change-orientation
•Persistency
•Visionary

11. Entrepreneurial Competencies &
Skills
 Competencies
 Meaning
 Ability of an individual to perform a job properly.
 Set of defined behaviours that provide a structured guide
enabling the identification, evaluation and development of the
behaviours in individual employees
 Combination of knowledge, skills and behaviour used to
improve performance; or the state or quality of being adequately
or well qualified, having the ability to perform a specific role.
 For instance, management competency might
include systems thinking and emotional intelligence,
& skills in influence and negotiation.

12. Entrepreneurial Competencies &
Skills
 Competencies (Contd.)
 As listed by the EDII, Ahmedabad: -
1. Initiative
2. Sees and Acts on Opportunities
3. Persistence
4. Knowing
5. Concern for High Quality of Work
6. Commitment to Work Contract
7. Efficiency Orientation
8. Systematic Planning
9. Problem solving-Observing the symptoms, diagnosing and
curing
10. Self-confidence

13. Entrepreneurial Competencies &
Skills
 Competencies (Contd.)
 As listed by the EDI (Contd.): -
11. Assertiveness
12. Persuasion
13. Use of Influence Strategies
14. Monitoring
15. Concern for Employee Welfare

14. Functions of an Entrepreneur

15. Functions of Entrepreneurs
1. Scouting of entrepreneurial opportunities
2. Generation of business ideas
3. Converting the idea into reality
4. Arranging resources
5. Supply of capital
6. Establishment of enterprise
7. Managing the enterprise
8. Growth and development

16. Myths about Entrepreneur

17. Myths About Entrepreneur
Common
Myths
Entrepreneurs are
born not made
Entrepreneurs are
gamblers
Entrepreneurs are
motivated primarily
by money
Entrepreneurs
should be young
and energetic
Entrepreneurs love
the spotlight