Entrepreneurship Insights: Functions, Types, and Comparisons

UNIT-7 (LIVESTOCK ENTREPRENEURSHIP) Lecture- Class-2 Department of Veterinary & Animal Husbandry Extension Education, BVC

Function of entrepreneur Function of initiation take the initiative to start the business Function of choice of location the entrepreneur has to locate the business where production marketing facilities exist or can be created Function of innovation: new scientific finding and technologies Function of coordination the entrepreneur has to co-ordinate, direct and supervise the work and other factors of production Function of risks entrepreneur has to face this and uncertainties and search for necessary alternative and entrepreneur introduced and uncertainties the

Type of entrepreneur Mobile entrepreneur this type of entrepreneur leave the venture when it reaches the final stage of integration and look for new opportunities to create another one. Sam Pitroda telecommunication Managerial entrepreneur this type of entrepreneur refers to continue in the same venture by giving the responsibility of managing and maintaining the venture other than continuing in the innovative and creative rule. Professor Muhammad Yunus Grameen Bank in Bangladesh Innovative entrepreneurs this type of entrepreneur creates the entrepreneur organization by choice and design and remains in the pursuit of innovation and creation to come up with novel product technology and sometime bring up new ventures around the mother organization.Azeem Premji (Wipro) Narayan Murthy (Infosys) Empire Builders this type of entrepreneur goes on creating a chain of new ventures one after another and builds a sort of Empires. Birla JN Tata and doctor Dr V Kurien

Comparison on entrepreneur with entrepreneurship enterprise and manager Entrepreneur Entrepreneurship Entrepreneur is a person Entrepreneurship is a process Entrepreneur is an organization Entrepreneurship is the organized form of initiative Entrepreneur is risk taker Entrepreneurship is risk taking activities Entrepreneur is an innovator Entrepreneurship is a process of innovation Entrepreneur is a good planner Entrepreneurship is a planning for successful performance Entrepreneur is a leader Entrepreneurship is a crux of leadership Entrepreneur is a decision maker Entrepreneurship is nothing but a decision making activity Entrepreneur is a visualizer Entrepreneurship is the vision Entrepreneur is a administrator Entrepreneurship is the administration Entrepreneur is an initiative Entrepreneurship is taking an initiative

Entrepreneur ENTERPRISE Entrepreneur is a person Enterprise is a business unit Entrepreneur is risk taker Enterprise is the unit involving risk and uncertainty Entrepreneur is decision maker Enterprise serve as the framework within which decision are taken by the entrepreneur Entrepreneur engage himself in Enterprise implies the harmonious interrelation for service introducing and selling the of functions and staff primarily for the purpose of making product selling product or services Entrepreneur procure raw Enterprise utilize the raw material and other inputs in the materials and other inputs for process of production production

Entrepreneur Manager Entrepreneur is an innovator Manager keeps in managing the business on established rules policies and procedure Entrepreneur is a moderate risk taker Manager does not undertake this Entrepreneur is not guided by the Manager is interested in salary his salary is motive of profit he continuously put fixed and certain his efforts for achieving the goal reward of the entire process in connection Self employed and his own Boss Manager is a salaried person and dependent upon his employee