Introduction to Critical thinking for researchers
- 1. Subject : FUNDAMENTALS OF ENTREPRENEURSHIP (Common for all branches of B.Tech Programs in GST) Dr. Balla Srinivasa Prasad Professor Department of Mechanical Engineering GITAM School of Technology (GIT) Visakhapatnam – 530045 Email: sballa@gitam.edu/9848321070 Department of Mechanical Engg, GST,GITAM IENT1051
- 2. Department of Mechanical Engg, GST,GITAM •Creating something useful from other things using science and math or Turning ideas into reality. •Engineering is the endeavor that creates, maintains, develops, and applies technology to fulfill needs and desires of society. •Engineering is the practical application of science and math to solve problems around mankind anywhere in the world. •Engineering technologies improve the ways that we communicate, work, travel, stay healthy, and entertain ourselves.
- 3. Department of Mechanical Engg, GST,GITAM Which is the best place to start with…….? •What do you want to become as a engineer? (Technocrat, Researcher, Entrepreneur, Media , PSU, UPSC, Faculty etc.) •Where your Dreams gets fulfilled as an expert engineering? •Is there any Institute which is committed to excellence in imparting Technical education with multi dimension?
- 4. Department of Mechanical Engg, GST,GITAM ABOUT GITAM
- 5. Department of Mechanical Engg, GST,GITAM
- 6. February 2, 2025 Department of Mechanical Engineering, GIT EHS 405: Entrepreneurship Development 6 Entrepreneurship is the process by which individuals pursue opportunities without regard to resources they currently control.” “Entrepreneurship is the art of turning an idea into a business.” What is Entrepreneurship
- 7. February 2, 2025 Department of Mechanical Engineering, GIT EHS 405: Entrepreneurship Development 7
- 8. • Entrepreneur is derived from the French entreprendre, meaning “to undertake.” – The entrepreneur is one who undertakes to organize, manage, and assume the risks of a business. • Although no single definition of entrepreneur exists and no one profile can represent today’s entrepreneur, research is providing an increasingly sharper focus on the subject. • The term “entrepreneurs” was applied to business initially by the Mr. Cantillon, a French economist in the 18th century: 8 Department of Mechanical Engineering, GIT EHS 405: Entrepreneurship Development February 2, 2025 The Evolution of Entrepreneurship
- 9. • Entrepreneurship – A dynamic process of vision, change, and creation. • Requires an application of energy and passion towards the creation and implementation of new ideas and creative solutions. – Essential ingredients include: • The willingness to take calculated risks—in terms of time, equity, or career. • The ability to formulate an effective venture team; the creative skill to marshal needed resources. • The fundamental skills of building a solid business plan. • The vision to recognize opportunity where others see chaos, contradiction, and confusion. 9 Department of Mechanical Engineering, GIT EHS 405: Entrepreneurship Development February 2, 2025 An Integrated Definition
- 10. Who is a Entrepreneur............ February 2, 2025 Department of Mechanical Engineering, GIT EHS 405: Entrepreneurship Development 10 How do you get be an Entrepreneur(Motivation)............ An Entrepreneur............
- 11. Entrepreneurship development Next End Entrepreneur An entrepreneur is defined as “person in effective control of commercial undertaking; one who undertakes a business or an enterprise”. Entrepreneur is an innovative person who maximizes his profits by following new strategies or venturing into new products or services. Entrepreneurship is the act of being an entrepreneur, who starts any economic activity for being self-employed. Entrepreneurship is the “process of the entrepreneur”. It is an attempt to create value through recognition of business opportunity. It is basically communicative and management functions to mobilize financial and material resources. The entrepreneurial activity is governed by varying combination of socio-economic, psychological, cultural and other factors: Caste/religion, Family background, Level of education, Level of perception, Occupational background, Migratory character, Entry into entrepreneurship, Nature of enterprise, Investment capacity and Ambition/moderation. Entrepreneurship February 2, 2025 Department of Mechanical Engineering, GIT EHS 405: Entrepreneurship Development 11