Description
New Century Publications Entrepreneurship (PB) by Upadhyaya Makarand & Saveeta Pawar
Entrepreneurship is universally regarded as the backbone of economic development. It has been well-established that the level of economic growth of a country, to a large extent, depends on the level of entrepreneurial activities. The myth that entrepreneurs are born, no more holds good. Rather, it is well-recognised now that entrepreneurs can be created and nurtured through appropriate interventions in the form of entrepreneurship development programmes.In political economics, entrepreneurship is the quality of being an entrepreneur, i.e. one who undertakes an enterprise. The term puts emphasis on the risk and efforts taken by individuals who both own and manage a business, and on the innovations resulting from their pursuit of economic success.Entrepreneurship in this sense may result in new organizations or may be a part of revitalizing mature organizations in response to a perceived opportunity. The most obvious form of entrepreneurship is that of starting new businesses (referred to as start-up companies). When entrepreneurship pertains to activities within a firm or a large organization, it is referred to as intra-preneurship and may include corporate venturing, whereby large entities spin-off organizations.Entrepreneurship is about taking risk. The behaviour of an entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea, and spending much time as well as capital on an uncertain venture.The acts of entrepreneurship are often associated with true uncertainty, particularly, when it involves bringing something really novel to the world, whose market never exists.Entrepreneurship is not all about personal gains. It concerns crafting a lifelong plan to make a positive impact on the society. The character matters—failure is okay, unethical practices are not. True wealth requires creation of enduring value, which requires integrity and ethics.An entrepreneur is an individual who organizes and operates a business or businesses, taking on financial risk to do so. An entrepreneur is commonly seen as an innovator of new ideas, and business processes. Management skills and strong team- building abilities are often perceived as essential leadership attributes of successful entrepreneurs. Leadership, management ability, and team-building are considered to be the essential qualities of an entrepreneur.This book explains and examines various concepts and theories associated with entrepreneurship. It contains 27 chapters which have been organized into 2 parts.Part I (chapters 1 to 20) is titled Principles of Entrepreneurship. It explains the meaning and various dimensions of entrepreneurship. Besides, it covers various theories of entrepreneurship; forms of business organization; start-ups, business incubators, angel investors, and unicorns; formulation and appraisal of business plan; factors affecting location of business; sources of finance for large enterprises; venture capital; micro finance and self-help groups (SHGs) for small enterprises; types of market; production function, cost function and revenue function of a firm; marginal rule for profit maximization by a business firm; trademarks, patents, industrial designs and geographical indications; mergers and acquisitions (M&A); consumer behaviour, marketing, advertising and e-commerce; skill development and entrepreneurship; entrepreneurship and innovations; multinationals, globalization and the de-coupling hypothesis.Part II (chapters 21 to 27) is titled Entrepreneurship in India. It covers the study of entrepreneurship in India during British Rule; Ministry of Skill Development and Entrepreneurship (MSDE), India; National Policy for Skill Development and Entrepreneurship (NPSDE), 2015; National Skill Development Mission (NSDM), 2015, entrepreneurship development institutes in India; entrepreneurship development schemes in India; strategies and initiatives to promote innovations in India; and Start-up India and Stand-up India initiatives.