COURSE: ELECTIVE COURSE IV

BIOTECHNOLOGY FOR ENTREPRENEURS

[CODE: P16BTE4]

FACTORS NECESSARY
BY
FOR Dr.R.Kalaivani
Asst.Professor of Biotechnology
ENTREPRENEURSHIP BON SECOURS COLLEGE FOR
WOMEN, THANJAVUR.
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What is Entrepreneur & Entrepreneurship? REVIEW

▰ Entrepreneurship is a process of actions of an
entrepreneur who is a person always in search of
▰ 4 Distinct Factors Affecting
something new and exploits such ideas into gainful
Entrepreneurship
opportunities by accepting the risk and uncertainty with
the enterprise.
▰ Economic development,
▰ Culture
▰ Entrepreneurial development today has become very
significant; in view of its being a key to economic
▰ Social

development. The objectives of industrial development,

▰ Technological development

regional growth, and employment generation depend ▰ Education.

upon entrepreneurial development.

▰Mnemonic: EC-SET
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Entrepreneurs are the seeds of industrial development

The fruits of industrial development are…..

Entrepreneurship helps to
 greater employment opportunities to bring new products and ideas
unemployed youth, to the market. Without the
creative ideas of entrepreneurs,
 increase in per capita income our world would not be as
 higher standard of living style advanced as it is today in the
fields of culture, science, and
 increased individual saving technology. Entrepreneurship is
 revenue to the government in the form of income a complex phenomenon
influenced by the interplay of a
tax, sales tax, export duties, import duties, and wide variety of factors.
balanced regional development.
 These factors may have both positive and negative
influences on the emergence of entrepreneurship.

Positive influences constitute facilitative

and conducive[favorable] conditions for
the emergence of entrepreneurship.

Negative influences create inhibiting

milieu[environment/situation] to the
emergence of entrepreneurship.
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Recall the

Economic Factors
“
1.Capital : Capital is regarded as
factors

Economic environment lubricant to the process of production.

exercises the most direct and 2. Labor : quality provider/facilitator
immediate influence on 3. Raw Materials : foundation/basic
entrepreneurship.
Because people become ingredients
entrepreneurs due to necessity 4. Market : the proof of pudding lies in
when there are no other jobs eating, the proof of all production lies in
or because of opportunity. The
consumption
economic factors that affect
the growth of entrepreneurship 5. Infrastructure : forum for success
are the following:

” ▰EC-SET
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In modern competitive world no entrepreneur can think of surviving in the absence of latest
knowledge about market and various marketing techniques. The size and composition of
Market market both influence entrepreneurship in their own ways.

You can gather all the information you want from these bodies. They also act as a forum for
Infra communication and joint action.
structure
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Cultural Value Psychological Factors

1.Need Achievement
▰ Motives drive men to action. Entrepreneurial growth requires proper motives 2.Withdrawal of Status
like profit-making, acquisition of prestige and attainment of social status. Respect
▰ Ambitious[motivated] and talented men would take risks and innovate if these 3.Motives
motives are strong. The strength of these motives depends upon the culture of
the society. If the culture is economically or monetarily oriented,
entrepreneurship would be applauded and praised; wealth accumulation as a
way of life would be appreciated.
▰ In the less developed countries, people are not economically motivated.
Monetary incentives have relatively less attraction.
▰ People have ample opportunities of attaining social distinction by non-
economic pursuit. Men with organizational abilities are, therefore, not dragged
into business. They use their talents for non-economic end.
 
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Social Factors Caste Factor :Consider the caste system (the Varna system)
among the Hindus in India. It has divided the population on
the basis of caste into four divisions. The Brahmana (priest),
the Kshatriya (warrior), the Vaishya (trade) and the Shudra
(artisan): It has also defined limits to the social mobility of
Social factors can go a long way in individuals. By social mobility we mean the freedom to move
encouraging entrepreneurship. In fact, from one caste to another.
it was the highly helpful society that Family Background : This factor includes size of family, type
made the industrial revolution a of family and economic status of family. Background of a
glorious success in Europe. family in manufacturing provided a source of industrial
entrepreneurship. In a society where the joint family system is
The social setting in which the people
in vogue[TREND], those members of joint family who gain
grow, shapes their basic beliefs, values wealth by their hard work denied the opportunity to enjoy the
and norms. The main components of fruits of their labor because they have to share their wealth with
social environment are as follows: the other members of the family.
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Education enables one to
understand the outside world and
The caste system and the
equips with the basic knowledge
resultant occupational structure Education
and skills to deal with day-to-day
were reinforced by such
problems.
education. It promoted the idea
Our educational methods
In any society, the system of that business is not a
have not changed much
education has a significant role to respectable occupation. even today.
play in inculcating
Later, when the British came to The emphasis is till on
entrepreneurial values.
our country, they introduced an preparing students for
In India, the system of education education system, just to standard jobs, rather
prior to the 20th century was produce clerks and accountants than marking them
based on religion. In this rigid for the East India Company, the capable enough to stand
on their feet.
system, critical and questioning base of such a system, as you
attitudes towards society were can well see, is very anti- Skill development towards
industry ready and be
discouraged. entrepreneurial
the job creators rather
than Job seeker
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Entrepreneurship training is found to be more Technology

effective than entrepreneurship education in
creating entrepreneurial skills. Therefore, we
can judge the success of any entrepreneurial
training by measuring its impact on trainees'
entrepreneurial attitudes with technology and Technology helps to connect with the world around us
skills. and acts as a portal to vast amounts of knowledge which
can be accessed with ease. However, many new
entrepreneurs do not utilize technology to its full extent
to propel themselves to new heights.
Technology entrepreneurship education ……increases
the intention to start a business and stimulates the
activities in a group setting and a network context
because of increasing global competition based on agility,
creativity and innovation.
Technology entrepreneurship is a vehicle that facilitates
prosperity in individuals, firms, regions, and nations. 
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Technology entrepreneurship is a concept
of transforming research and potential of
scientific institutions into new products and
services, which significantly increases
benefits to consumers and results in a faster
economy growth in the future.

1. Internal company entrepreneurship, closely tied to

the concept of interaentrepreneurship in SME .
sector companies .
2. Own technology and innovation potential
Integration of business and science
3. Market distribution of technological and innovation
effects
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Factors Influencing Entrepreneurship

Development

1. Motivational Factors
2. Entrepreneurial Skills
3. Entrepreneurial Knowledge
4. Normative Behavior
5. Socialization
6. Government Policies and Incentives
7. Scientific and Technological Development
8. Political and Administrative System
9. Attitude of Big Entrepreneurs
10. Infrastructural Facilities
11. Mechanism of Identifying and Developing Entrepreneurs
12. Entrepreneurship Oriented Education System
13. Role of Banks and Specific Financial Institutions
14. Training Facilities
15. Supporting Institutions
16. Research and Literature
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Thank you!
Any questions?
You can find me at:
▰[email protected].