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BBA III Semester Fundamentals of Entrepreneurship I Unit -Ppt

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  FUNDAMENTALS OF ENTERPRENEURSHIP Unit – I  Entrepreneurship   According to Economist Definition: AnEntrepreneurasonewhobrings resources,labor,materialandother assetsintocombinationsthatmaketheirvaluegreaterthanbeforeand alsoonewhointroducechanges, innovationsandaneworder.    As per Psychologist an entrepreneur as a person who is typically driven by some forces, which create a desire to obtain or attain something.   A Sociologist defines entrepreneur as a person whose actions would determine his social status and who contributes to the development of the society.  Other Definitions of Entrepreneur  1775Cantillon-A Person bearing Risk   1800Say-An agent Combining all Factors of Production  1921Knight-Recipient of Pure Profits  1930Weber-Innovator  1934J Schumpter-Ability to Identify New Opportunities 1973Kirzner-Contributes to movement towards equilibrium by pursuing opportunities via equilibrium  1982Mark Casson-Decision maker In coordinating scarce resources  1987Stevenson & Sahlman-The Relentless pursuit of Opportunity 
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