Entrepreneurship

1. ROLE OF ENTREPRENEURSHIP
IN DEVELOPMENT OF ECONOMY
AND
FACTOR FAVOURING
Entrepreneurship
A
Syno
DEPARTMENT OF MECHANICAL ENGINEERING
COLLEGE OF ENGINEERING ROORKEE, ROORKEE
UTTARAKHAND TECHNICAL UNIVERSITY
DEHRADUN
COLLEGE OF ENGINEERING ROORKEE
SUBMITTED BY:
 AMIT ARORA

2. ROLE OF ENTREPRENEURSHIP IN
ECONOMIC GROWTH
•Standard of Living: Increase in the standard of living of people
in a community is yet another key goal of economic development.
Entrepreneurs again play a key role in increasing the standard of
living in a community. For example, automation that reduces
production costs and enables faster production will make a business
unit more productive, while also providing its customers with the
same goods at lower price.
• Exports: Any growing business will eventually want to get started
with exports to expand their business to foreign markets.

3. • Generation of Employment:--
• At the beginning of the seventh five-year plan, the backlog of
unemployment was estimated to be around 44 million persons. At
present, the number of unemployed in the country is far greater than
what it was during 1985.
• Facilitates Overall Development:
• Entrepreneurs act as catalytic agent for change which results in chain
reaction. Once an enterprise is established, the process of
industrialisation is set in motion. This unit will generate demand for
various types of units required by it and there will be so many other
units which require the output of this unit. This leads to overall
development of an area due to increase in demand and setting up of
more and more units.

4. FACTOR FAVOURING
ENTREPRENEURSHIP
•Growth of Education
•Risk Taking Abilities
•Hunger for Success (Capitalistic View)
•Environment/Culture Impact
•Social Security
•Technical/Industrial Training Facilities

5. CASE STUDY
• Entrepreneurship is essential to achieve high rate of economic growth as it
results in more production and employment opportunities. Entrepreneur
recognizes opportunities and faces challenges. He assembles the factors of
production to turn dreams into reality. Entrepreneurship is considered a
prime element in the development of many countries across the globe. The
countries which promote entrepreneurship development achieve high
economic growth rates in comparison to those countries which impediment
entrepreneurship. The entrepreneurial economies are considerably different
from non-entrepreneurial economy in social and economic respects like
quality of life is better in entrepreneurial economy. The government and
other employers may find it difficult to provide employment in future. This
increases the role of entrepreneurs who will create new jobs and
opportunities. The present paper is a case study of Su-Kam; leading Power
Back-up Solution provider in India

6. THANK YOU