Elements of Entrepreneurship - Quick Revision Sheet
Quick revision
Key terms and people
| Term | Meaning |
|---|---|
| Entrepreneur | Word of French origin; one who sets up his own business venture |
| Oxford Dictionary (1897) | Director or manager of a musical institution |
| Richard Cantillon | Entrepreneur as risk bearer |
| Jean Baptize | Entrepreneur as organiser |
| Joseph A. Schumpeter (1934) | Entrepreneur as innovator; carries out new combinations |
| Intrapreneur | Inside entrepreneur; employee who bears no risk |
| Women entrepreneur (GOI) | 51% capital and 51% employment for women |
| CWEI | Registered 1996; non-profit; member of National Board, Ministry of MSME |
| Credit Guarantee Fund Scheme | Guarantee up to 80% for women's MSEs |
Lists to remember
- Characteristics (10): spirit of enterprise, self confidence, flexibility, innovation, resource mobilisation, hard work, leadership, foresight, analytical ability, decision making.
- Importance (7): innovation, GDP, balanced regional development, export promotion, latent resources, less concentration of economic power, better standard of living.
- Challenges of women (8): finance, mobility, education, network support, competition, sensitivity, information, dependent culture.
- Promotional (8): idea, objectives, investigation, form of enterprise, formalities, business plan, funds, machines and materials.
- Managerial (5): planning, organising, directing, controlling, coordination.
- Commercial (5): production, marketing, accounting, finance, HRM.
- Marketing mix: 4 Ps plus people, process, physical evidence for services.
More for this chapter
Book Back Questions5 textbook MCQs · solved
Additional MCQs29 extra MCQs · solved
Practice TestInteractive · instant score
Book Back TestTest yourself on the textbook set
Additional MCQ TestTest yourself on the extra set
Study NotesConcepts & methods
More chapters in Commerce
View all
1 Principles of Management
2 Functions of Management
3 Management by Objectives (MBO) and Management by Exception (MBE)
4 Introduction to Financial Markets
5 Capital Market
6 Money Market
7 Stock Exchange
8 Securities and Exchange Board of India (SEBI)
9 Fundamentals of Human Resource Management
10 Recruitment Methods
11 Employee Selection Process
12 Employee Training Method
13 Concept of Market and Marketer
14 Marketing and Marketing Mix
15 Recent Trends in Marketing
16 Consumerism
17 Rights, Duties and Responsibilities of Consumers
18 Grievance Redressal Mechanism
19 Environmental Factors
20 Liberalization, Privatization and Globalization
21 The Sale of Goods Act, 1930
22 The Negotiable Instruments Act, 1881
24 Types of Entrepreneurs
25 Government Schemes for Entrepreneurial Development
26 Companies Act, 2013
27 Company Management
28 Company Secretary