INtroduction

Question 1

Definition of entrepreneur

Answer 1

Agent who buys factors of productions to combine them into a product to be sold at uncertain price in future
The word “entrepreneur” is derived from the French verb ‘enterprendre’, which means ‘to undertake’.

Question 2

social entrepreneurship

Answer 2

Social entreprenure with innovation and using entrepreneurial principles with pressing and daunting social problems.

Social entrepreneurs measure success by its impacts on society while business entrepreneurs measures by Profit.

Question 3

Entrepreneurs VS Businessman (women)

Answer 3

Businessman
Someone who set up business with an existing ideas offering product or services to the consumers
Market player
Create place in existing market
Risk factor Less

Entrepreneurs
Is a person who starts an enterprise with a new idea or concept, undertaking commercial activities
Market leader
Create new market
risk factor Comparatively high

Question 4

Traits of entrepreneurs

Answer 4

Hard work
Perseverance
Preference for risk
Confidence
Future orientation
Skill (Soft )
High degree of commitment

Question 5

Types of entrepreneurs

Answer 5

Innovative Entrepreneurs
-Ability to think newer, better and more economical ideas of business organization and management.
Business leaders and contributors to the economic development of a country.
introduction of a small car ‘Nano’ by Ratan Tata
Jio available to the common man by Anil Ambani

Imitative Entrepreneurs-Following the path shown by innovative entrepreneurs
Imitate innovative entrepreneurs because the environment in which they operate is such that it does not permit them to have creative and innovative ideas on their own.
Imitative entrepreneurs fulfill their need for achievement by imitating the ideas introduced by innovative entrepreneurs

Fabian Entrepreneurs-

‘Fabian’ is ‘a person seeking victory by delay rather than by a decisive battle’.
Fabian entrepreneurs are those individuals who do not show initiative in visualizing and implementing new ideas and innovations. They wait for some development which would motivate them to initiate unless there is an imminent threat to their very existence.

Example: Nokia

Drone Entrepreneurs-
Drone’ is ‘a person who lives on the labor of others’.
Drone entrepreneurs are those individuals who are satisfied with the existing mode and speed of business activity
Show no inclination in gaining market leadership.
Drone entrepreneurs are die-hard conservatives and even ready to suffer the loss of business.

Example: Beeree

Question 6

Entrepreneurship Ecosystem

Answer 6

1. pillars components
   a. Accessibility to market - DOmestic and international market( small, Medium and large)

b. Human capital or work force- good management, skilled technical or operator

c. funding and finance- investors, private equity, assess to dept
d. support system/ mentors- incubators, professional mentors/ advisors

e. govt and regulatory system- ease of starting a business, incentives, access to infrastructures,
f. education and training - available wrokforce with university graduate with specific entrepreneurship trianing
g. cultural support- celebrate success and accept failure, preference for self employment, succcess stories/ role model.

Question 7

key players of entrepreneurship ecosystem in Bhutan

Answer 7

Government( Molhr, MoeA) -PSL/ incuvation/ Policy/amendments

NGOS-tarayana, loden- interest free loan/ mentor/women empowerment/ rural enterprise

private sectors( BCCl,ihub) private sector empower/community focused
Education-RUB,TTI- education and awareness/ skill development

cooperates(CSI,DHI)- investment, promotion, awareness

Question 8

Role of entrepreneurship in Bhutan

Answer 8

Economic development- GDP contributio, innovation, diversification standard

job creation- 100 % employment generation

self reliance- economic sovereignty

community development- infrastructure, access to service

Question 9

10 Mindsets of Successful Entrepreneurs by Shawn Hessinger

Answer 9

Reach Out to Customers First
Find a New Market for an Existing Product
Use Networking to Build Your Business
Give Without Expecting a Return
Keep Control of Your Vision
Understand the Power of Brand
Focus Your Energy on What’s Good for Your Business
Always Maintain Quality Control
9. Set Your Product Apart
10. Take Ownership