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Intrapreneur
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Intrapreneur
-existing business will have financial resources, skills, marketing and distribution systems
Why?
In bureaucratic structure, due to focus on short term benefits, prevent creativity and development of new products
An increase in intrapreneurship reflects a proportional increase in social, cultural and business pressures
Elements of Intrapreneurship
Entrepreneurship
In today's context, is the product of team work and ability to create, build and work as a team
Higgins definition
- foreseeing investment
- production oppurtunities
- organizing an enterprise
- raising capital
- hiring labour
- arranging supply of raw materials
- finding site
- introducing new technique
- selecting top managers
Coles definition
purposeful
initiate
maintain
distribute
profits
Evolution of Entrepreneurship
trading
selling goods while travelling
person managing large projects
17th century
government contract
risk taker, buying at a certain price and sell at uncertain price
18th and 19th century
manager
innovator
whole and sole
The ability to innovate and risk taking has been present in all generations
Development of Entrepreneurship
Microsoft - Office software
Sony - electronic goods
Ford - cars
Intel - Micro Electronics
Sun Microsystems - Work stations
Stages in Entrepreneurial Process
Identification of Opportunity
I am a techie
Evaluation of Oppurtunity
critical element
Return on investment
length of oppurtunity and market size
SWOT analysis (Strength, Weakness, Oppurtunity and Threats)
Risks reflect market, competition, technology and capital amount
Put necessary time and effort
- description of product/service
- agreement of oppurtunity
- assesment of entrepreneur
- resources needed
- capital amount and source
- rewards and profit expected
Tedious and Time consuming
- assesment of present resources
- dnt underestimate resources
- organizing at appropriate time
- alternative sources of supply must be identified
management functions
growth
Role of Entrepreneur in Economic Development
Entrepreneur bridges the gap between science and market place
Entrepreneurship in INDIA
Family business (1850)cotton mill
manufacture, services, electronic goods, health care, export and imports, IT , education, transport, space and technology etc
Past:
business community
-manufacture and supply based on demand
- family members involved
- caste system
- skill inherited from ancestors
- trading on caste system
textile, Iron and Steel, hydroelectrics
growth in last 60 years
Banking, automobiles, software, petrochemicals, cement, communication......
Godrej
Bajaj
Wipro
Nirma
BARRIERS OF ENTREPRENEURSHIP
lack of technical knowledge
Resources and Raw Materials
entrepreneurship in the existing business structure
Identify
Present: