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Chapter:10 Business entrepreneurship

Concept of Business entrepreneur A business entrepreneur may be defined as one who ,after identifying the new potential sector or sectors and collecting or managing the factors like risk or uncertainty with the hope of profit and gaining development.

Difference between initiative and entrepreneurship Initiative is defined as the act of taking the first step. Any initiative to start a new business accepting risk and uncertainty for the purpose of earning profit is called business entrepreneur. The subject matter of initiative is much extensive, such as-economical ,political, international. The subject matter of a business entrepreneurship is related to start a business. The objective of initiative is public welfare and the objective of entrepreneurship is to earn profit.

Features of entrepreneurship Related with profit Excessiveness of risk and uncertainty Relatedness with new ideas Gaining special honor of achievement. Sufficiency of positive result for success. Entrepreneurship is not a traditional business activities

Evaluation What is initiative? What is business entrepreneurship? Why is business entrepreneurship not traditional business activities?

Lesson Evaluation What is business entrepreneurship? Is business entrepreneurship important for economic development of a country?

Functions of Business entrepreneurship Development of entrepreneurship thinking Testing feasibility and taking decision Financing Taking risk Organizing resource Creating market Evaluation of success and failure Execution of development program

Qualities of successful entrepreneur Creative mentality Need for achievement Foresightedness Brevity and intellectual Patience and hardworking Risk taking mentality Dutifulness and sincerity Communication ability Knowledge and ability about organization

Identification of qualities of entrepreneur by self-assessment 1.Determining need for achievement 2.Preparing report in light of answer to the queries 3.Exchange of opinion with established entrepreneur 4.Taking assistance of training

Favorable environment for developing business entrepreneurship 1.Advantage of developed infrastructure 2.government patronization 3.socio-economic stability 4.favorable law and order situation 5.availability of sufficient capital 6.market facilities 7.opportunity of training and development

Contribution of entrepreneurship to socio-economic development Economic importance Development of business Extension of area of business Proper utilization of resource Increase of personal and national income Social importance Solution of unemployment problem Receiving new product and service Reducing foreign dependency

Obstacles of entrepreneurship development in Bangladesh Lack of entrepreneur related education Lack of training Lack of government assistance Lack of capital Legal complexity Lack of political stability Lack of publicity

Stories of national level successful entrepreneurs Ranada Prassad Saha(1898-1971)

Stories of national level successful entrepreneurs Dr.Husne Ara Begum-TMSS