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SUBJECT:- ENTREPRENEURSHIP AND START –UPS

                                    Unit- I


A businessman is a person who starts a business on an old concept or idea and makes his place in the market with his efforts and dedication. 

 Whereas a person who brings his unique idea, creates the market for his own business to run a startup company is known as an entrepreneur

 • Entrepreneur is a person “one who organizes, manages and assumes the risks of a business or enterprise(उद्धम)” 


Start-up:- 

                  A startup is a young company established by one or more entrepreneurs to create unique and irreplaceable products or services. It aims at bringing innovation and building ideas quickly.


Concept of Entrepreneurship

 An enterprise or business is created by an entrepreneur. The process of creation such an enterprise or business is called “entrepreneurship”.


• Entrepreneurship is a process of actions of an entrepreneur who is a person always in search of something new and exploits such ideas into gainful opportunities by accepting the risk and uncertainty with the enterprise or business.


 • The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. 


 • It is an act of seeking investment and production opportunity, developing and managing a business venture, so as to undertake production function, arranging inputs like land, labour, material and capital, introducing new techniques and products, identifying new sources for the enterprise.



Meaning of Entrepreneur

The word “entrepreneur” is derived from the French verb enterprendre, which means ‘to undertake(आरंभ करना )’. This refers to those who “undertake” the risk of new enterprises or businesses.


• An Entrepreneur is an initiator, a challenger and a driver who creates new product/ service or does normal things in a different way in the market which includes his Innovations or Creativity.


• Entrepreneur in order to carry out his business/ project will start up and organize a venture/ enterprise to take benefit of an opportunity and, as the decision maker, decides what, where, when and how much of goods or service to be produced/ distributed. 


• Entrepreneur combines capital, land, and labor to manufacture goods or provide services through the formation of a firm. In a market full of uncertainty, it is the entrepreneur who can actually help clear up uncertainty, as he makes judgments or assumes the risk. 

Entrepreneurship is high-risk, but also can be highreward as it serves to generate economic wealth, growth, and innovation.

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