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<!DOCTYPE html>
<html lang="en">
<head>
<meta charset="UTF-8">
<meta http-equiv="X-UA-Compatible" content="IE=edge">
<meta meta name="viewport" content="width=device-width, user-scalable=no" />
<title>Helpdesk</title>
</head>
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<div id="body">
<div id="watermark">@Debuggers</div>
<center><h1>Entrepreneurship and Startups </h1></center>
<br>
Term Entrepreneur is defined as the person who bears uncertainty and risk.
(Richard Cantiilan, French banker)
<br><br>
Entrepreneurship is the process of identifying opportunities in the market, marshalling the resources required to pursue these opportunities and investing the resources to explore the opportunities for profit.
<br><br>
<h2>Entrepreneurship</h2>
Entrepreneurship is meant the function of seeking investment and production opportunity, organising an enterprise to undertake a new production process, raising capital, hiring labour, arranging the supply of raw materials, finding site, introducing a new technique, discovering new sources of raw materials and selecting top managers for day-to-day operations of the enterprise. (B. Higgins)
<br><br>
Entrepreneurship involves the willingness to assume risks in undertaking an economic activity, particularly a new one. It may involve an innovation but not necessarily so. It always involves risk-taking and decision-making, although neither risk nor decision-making may be of great significance. (William Diamond)
<br>
An entrepreneur starts and runs a business. They are responsible for making key decisions, taking risks, and driving the success or failure of the business.
Entrepreneurs are often driven by a desire to create something new and innovative, and they often have a clear business vision and goals.
<br><br>
<h2>Entrepreneurship-LinkedIn</h2>
Entrepreneurship refers to the process of creating, launching, and managing a new business venture. <br><br>
It involves identifying opportunities, taking risks, and developing innovative products or services that fulfill market needs.
<br>
<h2>Resources required by Entrepreneurs</h2>
5Ms (Resources) are required by entrepreneurs to run business :
<li>Men</li>
<li>Machine</li>
<li>Material</li>
<li>Method</li>
<li>Money</li>
<br>
Other resources- Minute (Time), Memory (Data/Information)
<br>
<h2>Startup</h2>
<li>A startup is a new and emerging business, typically in the early stages of operation. </li>
<li>Startups are characterized by rapid growth and scalability, and they often rely on funding from investors, grants, or other sources to get off the ground and grow. </li>
<li>Startups often try to disrupt established markets or create new ones, and as a result, they can be high-risk ventures.</li>
<li>A startup is a newly established business, often focused on solving a particular problem or addressing a specific market niche. </li>
<br>
<h2>Eligibility of Startup</h2>
<ol>
<li> Company Age
Period of existence and operations should not be exceeding 10 years from the Date of Incorporation</li>
<li>Company Type
Incorporated as a Private Limited Company, a Registered Partnership Firm or a Limited Liability Partnership</li>
<li>Annual Turnover
Should have an annual turnover not exceeding Rs. 100 crore for any of the financial years since its Incorporation</li>
<li>Original Entity
Entity should not have been formed by splitting up or reconstructing an already existing business</li>
<li>Innovative & Scalable
Should work towards development or improvement of a product, process or service and/or have scalable business model with high potential for creation of wealth & employment.</li>
</ol>
<br>
<h2>Entrepreneurial Competencies</h2>
<h3>Competence</h3>
A competence is an underlying characteristics of a person, which results in effective and/or superior performance in a job (or venture). <br>
A job competence may be motive, trait, skills, aspect of one’s self-image or body of knowledge which one uses. <br>
In simple terms, a competence is a combination of body of knowledge, set of skills and a cluster of appropriate motives/traits that an individual possesses to perform a given task.
<br>
<h2>Major Entrepreneurial Competencies</h2>
<li>Initiative</li>
<li>Sees and acts on opportunities</li>
<li>Persistence</li>
<li>Information seeking</li>
<li>Concern for high quality of work</li>
<li>Commitment to work contract</li>
<li>Efficiency orientation</li>
<li>Systematic planning</li>
<li>Problem-solving</li>
<li>Self-confident</li>
<li>Assertiveness – confronts problems and issues directly.</li>
<li>Persuasion</li>
<li>Use of influence strategy</li>
<li>Monitoring</li>
<li>Concern for employee welfare</li>
<br>
<h2>Major Entrepreneurial Competencies</h2>
<li>Initiative</li>
<li>Sees and acts on opportunities</li>
<li>Persistence</li>
<li>Information seeking</li>
<li>Concern for high quality of work</li>
<li>Commitment to work contract</li>
<li>Efficiency orientation</li>
<li>Systematic planning</li>
<li>Problem-solving</li>
<li>Self-confident</li>
<li>Assertiveness</li>
<li>Persuasion</li>
<li>Use of influence strategy</li>
<li>Monitoring</li>
<li>Concern for employee welfare</li>
<br>
<h2>David McCelland Theory of Motivation</h2>
<ul>
<li>Need for Achievement (nAch)</li>
<li>Need for Affiliation</li>
<li>Need for Power</li>
</ul>
<br>
Note: <br>
Achievement motive (‘nAch’) is urge to accomplish, drive to excel, strive for success. <br>
High ‘nAch’ motivates an entrepreneur to work hard, take calculated risks and invest resources.
<h2>Distinction between Entrepreneurs and Managers</h2>
<img src="img/distbtweandm.png" alt="" id="img1">
<br>
<h2>Activity Map overview</h2>
<ul>
<li>Adobe Analytics Activity Map is a feature within Adobe Analytics that provides a visual representation of user engagement on web pages and mobile apps. </li>
<li>It enables marketers and analysts to track and analyze user interactions such as clicks, hovers, and scrolling behavior. </li>
<li>Activity Map generates heatmaps and overlay reports that illustrate the popularity and effectiveness of various elements on a webpage, helping organizations optimize their digital experiences and drive higher conversions.</li>
</ul>
<br><br>
<center>
<hr>
Previous Year Paper<br> <hr>
<img src="img/pre/Startup.jpg" alt="" id="img1">
<img src="img/pre/pyq_mid_startup_23-24.jpg" alt="" id="img1">
<img src="img/pre/pyq_end_startup1_23-24.jpg" alt="" id="img1">
<img src="img/pre/pyq_end_startup2_23-24.jpg" alt="" id="img1">
</center>
</div>
</html>