Entrepreneur should be able to objectively analyse the situation and act accordingly.

According to Schumpeter's concept, "Women who innovate, imitate or adopt a business activity are known as women entrepreneurs".

(i)  Dhirubai Ambani
(ii)  T.V. Sundaram Iyengar
(iii)  Birla
(iv)  Narayanamurthi
(v)  Aziz Premji
(vi)  Seshadriji

Agricultural entrepreneurs are those entrepreneurs who raise farm products and market them.

(i) Problem of finance
(ii) Limited mobility
(iii) Lack of Education
(iv) Lack of Network support

(i) Planning
(ii) Organising
(iii) Directing
(iv) Controlling
(v) Co-ordination

(i) Spirit of Enterprise,
(ii) Self confidence,
(iii) Flexibility,
(iv) Innovation.

(i) These entrepreneurs are said to be conservatives and sceptical about plasticizing any change in their organization.
(ii) They are of risk-averse type.They do not simply change to the changes happening in the environment.
(iii) But they adapt themselves to the changes only as a last resort when they fear that non adaptability to changes will inevitably lead to loss or collapse of the enterprise.
(iv) Their dealings are governed by customs, religion, tradition and past practices handed down to them by their ancestors.

1. Innovation
2. Contribution to Gross Domestic Product (GDP)
3. Balanced Regional Development
4. Export Promotion
5. Full utilisation of Latent Resource
6. Reduction of Concentration of Economic Power in Few hands
7. Better Standard of Living.

(i) Urban Entrepreneur:
(a) An entrepreneur who commences his entrepreneurial activity in urban areas like State Capital, District Headquarters, Towns, Municipalities, etc.,
(b) They may be an industrial entrepreneur or corporate entrepreneur or retail entrepreneur.
(ii) Rural Entrepreneur:
(a) These are people who start a venture in rural locations.
(b) They are provided a lot of economic and fiscal incentives to start their venture in rural and semi-urban areas in order to check the exodus of rural people to urban centers in pursuit of employment opportunity.

Ventures started by individual either singly or collectively at their own risk after mobilising various resources in order to earn a profit are called private entrepreneurship.

The commercial functions of entrepreneurs are :
(i) Production or Manufacturing
(ii) Marketing
(iii) Accounting
(iv) Finance
(v) Human Resource Management
(i) Production or Manufacturing: Under production function, entrepreneur has to take decision relating to selection of factory site, design and layout, type of products to be manufactured, research and development, product design etc.
Marketing : Entrepreneur has to carry out following functions pertaining to marketing aspect namely consumer research, product planning and development, standardisation, packaging, pricing, warehousing, distribution, promotion etc.
(ii) Accounting :Entrepreneur has to arrange (v) to prepare trading and profit and loss account in order to know the profit or loss incurred out of operation of the business and prepare balance sheet to know the financial status of business at a particular day.
(iv) Finance : In the sphere of financial function, an entrepreneur has to take decisions like choosing the right type of financing,framing thebest dividend policy, acquiring of funds, efficiently managing fixed and current assets, maximising shareholders wealth and investing offunds efficiently and effectively.
Human Resource Management: Entrepreneur has to estimate the manpower needs of the enterprise and accordingly decide the size of manpower required for various slots oforganisational structure.After determining the required man power the entrepreneur has to organise the performance of following functions pertaining to human resources namely arranging for. recruitment, selecting manpower, induction and training, determining compensation structure and inentives, designing motivation programmes, structuring well being measures for employees, putting in place safety mechanism at work place, performance evaluation and career advancement and structuring social security programmers.

Basis of Difference	Entrepreneur	Manager
Motive	The very motive of an entrepreneur is to start a venture by setting of an entity.	The very motive of manager is to render service in an entity setup for execution of venture.
Status	Entrepreneur is owner of the entity.	Manager is a salaried employee in the entity set up for carrying on the venture.
Risk Bearing	Entrepreneur bears the eventual risk and uncertainty in operating the enterprise	Manager doesn't bear any risk in the venture where the venture is unsuccessful he/ she simply quits the enterprise.

Dimension	Salaried Employment	Self Employment
Income	Dependable and probably higher income during the initial stages but limited by promotion opportunities	The fluctuation of income depending upon economic conditions and endeavors of the entrepreneur
Working Hours	Fixed Working Hours	Absolute freedom in choosing the working time.
Job Security	Fixed tenure jobs in respect of public sector appointments and absolute unstable job in private sector appointments.	Stable job till the business is solvent
Financial Risk	There is no financial risk in salaried employment as the employee does not invest in the capital of the employer organization	There is high degree of risk of losing the investment due to continuous loss.
Personal Satisfaction	An employee may derive job satisfaction	Owner derives a sense of personal satisfaction
Responsibility	The size of responsibility increases as an employee moves up the organizational ladder.	The size of responsibility is always higher for various stakeholders.

1. Innovating Entrepreneur
(a) Innovative entrepreneur is one who is always focussed on introducing a new-project or introducing something new in the venture already started. 
(b) Their innovation may take the form of brand new product, upgraded product, new method of production, reengineering of existing product etc.
2. Imitative Entrepreneur
(a) Imitative entrepreneur is one who simply imitates existing skill, knowledge or technology already in place in advanced countries.
(b) For example many electronic products invented in advanced countries are simply reengineered in developing countries
3. Fabian Entrepreneur
(a) These entrepreneurs are said to be conservatives and sceptical about plasticising any change in their organisation. They are of risk-averse type.
(b) They do not simply change themselves, they change only when they fear than non-adaptability will lead to loss of the enterprise.
4. Drone Entrepreneur
(1) Drone Entrepreneur are those who are totally opposed to changes unfolding in the environment.
(2) Drone never try to adapt themselves with the changes even as a last resort. Example : Global Tooth Power.

(i) Business Entrepreneur:
(a) Business entrepreneur is called solo entrepreneur.  He/She is the one who conceives an idea for a new product/ service and establishes a business enterprise to translate his is idea into reality.
(b) Business entrepreneur takes up production, operations  and pursues marketing activities.
(ii) Trading Entrepreneur:
(a) Trading entrepreneurs are those who restrict themselves  to buying and selling finished goods.
(b) They may be engaged in domestic and international trade. Their core strength lies in distribution and marketing
(iii) Industrial Entrepreneur:
(a) These are entrepreneurs who manufacture products to cater to the needs of consuming public after identifying the need left unfulfilled by the manufacturer hitherto.
(b) Industrial entrepreneurs mobilise the resources of   various types and create an entity to manufacture the  products or service.
(iv) Corporate Entrepreneur:
(a) Corporate entrepreneur is called promoter. He/She entrepreneur takes initiative necessary to start an entity under corporate format.
(b) Corporate entrepreneur assembles all the resources and put in place organisation to run the business on a day-to-day basis.
(v) Agricultural Entrepreneur:
(a) Agricultural entrepreneurs are those entrepreneurs who  raise farm products and market them.
(b) Those who raise allied products like poultry, meat, fish, honey, skin, agricultural implements, flower, silk, fruits,  prawn, etc. are called
agriculturalentrepreneur.

Promotional Functions:
(1) Discovery of Idea : The first and foremost function of entrepreneur is idea generation.
(2) Determining the business objectives : Entrepreneur has to develop business objectives in the backdrop of nature of business and type of business activity.
(3) Detailed Investigation : Entrepreneur has to analyse in detail the product proposes to produce.
(4) Choice of form of enterprise : Entrepreneur has to choose the appropriate form of organisation suited to implement the venture.
(5) Fulfilment of the formalities : Having chosen the appropriate type of organisation, entrepreneur has to take necessary steps to establish the form of organisation chosen.
(6) Preparation of Business Plan : Entrepreneur has to prepare a business plan or project report of the venture
(7) Mobilisation of funds : Entrepreneur has to take steps to mobilise capital needed to implement the venture.
(8) Procurement of Machines and materials : Entrepreneur has to locate the various sources of supply of machineries and equipments and materials.
II. Managerial Functions
Planning : Under planning, entrepreneur has to lay down the objectives, goals, vision, mission, policies, procedures, programmes, budget, schedules etc., for enabling the venture to proceed towards established destinations.
Organising : Entrepreneur puts in place suitable organisational structure to pertorm various managerial functions.
Directing : In the realm of directing, entrepreneur has to motivate, lead, guide and communicate with subordinates on an ongoing basis in order to accomplish pre-set goals.
Controlling : Entrepreneur has to put in mechanism to evaluate the performance of employees across the organisation.
Coordination : Entrepreneur has to evolve mechanism to pull together the diverse functions performed by various departments or teams.
Ill. Commercial Functions
Production or Manufacturing : 1. Under production function, entrepreneur has to take decision relating to selection of factory site, design and layout.
2. The efficient and effective performance of production function depends on the proper production planning and control to a major extent.
Marketing : 1. Entrepreneur has to carry out following functions pertaining to marketing aspect namely consumer research, product planning and development standardisation, packaging, pricing, Warehousing, distribution, promotion etc.,
2. The very success of marketing function is very much linked with selection of appropriate marketing mix.
Accounting : Entrepreneur has to arrange to prepare trading and profit and loss account in order to know the profit or loss incurred out of operation of the business and prepare balance sheet to know the financial status of business at a particular day.
Finance : In the sphere of financial function, an entrepreneur has to take decisions like choosing the right type of financing, framing the best dividend policy, acquiring of funds, etc.,
Human Resource Management : Entrepreneur has to estimate the manpower needs of the enterprise and accordingly decide the size of manpower required for various slots of organisational structure.

Challenges faced by women Entrepreneurs
(i) Problem of Finance:
(1) The access of women to external sources of funds is limited as they do not generally own properties in their own name.
(2) Because of the limited funds, women entrepreneurs are not able to effectively and efficiently run and expand their business.
(ii)Limited Mobility:
(1) Indian women cannot afford toshed their household responsibilities towards their family even after they plunge into the venture started by them.
(2) This restricts the mobility of women entrepreneur significantly.
(iii) ) Lack of Education :
Iliterate and semi-literate women entrepreneurs encounter a lot of challenges in their entrepreneurial journey with respect to maintaining accounts, understanding money matters, day-to-day operations ofthe company,marketing the products, applying technology etc.,
(2) This reduces the efficiency of operating the business successfully. 
(iv) Lack of Network Support:
The successful operation of any venture irrespective of the size depends upon the network of support extended by various constituencies like family members, friends, relatives, acquaintances, neighbours, institutions and so on.
(2) But it is reported that women entrepreneursget very limited support in times of crisis from most of these constituencies.
(v)Self Competition:
(1) Women entrepreneurs have to face acute competition for their goods trom organised sector and from their male counter parts.
(2) Since, they are not able to spend liberally due to financial constraints, they are not able to compete effectively and efliciently in the market.
(vi) Lack of Information:
Women entrepreneurs are reported not to be generally aware of subsidies and incentives available for them due to their poor literacy levels or due to their pre-occupation with household responsibilities.

 

Basis	Entrepreneur	Intrapreneur
Thinking	Entrepreneur is a free thinker	Intrapreneur is forced to think independently but within scope of business activities undertaken in the enterprise.
Dependency	Entrepreneur is an independent person	Intrapreneur is dependent on the entrepreneur. He is an employee.
Fund Mobilization	Entrepreneur has to mobilize funds to finance the venture.	Intrapreneur does not engage in fund mobilization. But can access funds mobilized by the entrepreneur.
Reward	Entrepreneur is rewarded by profit for the risk bearing exercise.	Intrapreneur does not share in profits of venture. But gets perquisites, salary, incentives, etc., for the service.
Risk Bearing	Entrepreneur bears the risk involved in the venture undertaken.	Intrapreneur does not bear any risk in the venture and does not even share the risk inherent in the project or work assigned. However Intrapreneur is accountable for the task or project assigned.
Status	|Entrepreneur is owner, and doesn't reportto anybody in the venture.	Intrapreneur is a salaried employee.
Operation	Entrepreneur operates mostly outside the enterprise.	Intrapreneur operates within the enterprise.

Characteristics of Entrepreneur.
1. Spirit of Enterprise :
Entrepreneur should be bold enough to encounter risk arising from the venture undertaken.Entreprenour should not get discouraged by setbacks or frustrations cmerging during the course of entrepreneurial journey.
2. Self Confidence :
Entrepreneur should have a sclf confidence in order to achieve high goals in the business. The negativities like inconvenicnce, discomfort, disappointments, rejections, frustrations and so on should not weaken his steely resolve to make the venture a grand success.
3. Flexibility:
Entrepreneur should not doggedly stick to decisions in a rigid fashion. Entrepreneur should change the decisions made already in the light of ever-changing business environment.
4. Innovation:
Entrepreneur should contribute something new or something unique to meet the changing requirements of customers nanely new product, new method of production or distribution, adding new features to the existing product, uncovering a new territory for business, innovating new raw material etc.
Resource Mobilisation :
Entrepreneur should have the capability to mobilise both tangible inputs like manpower, money materials,technology, market, methodetc. Which are scattered over a wide area and certain intangible inputs like motivation, morale and innovativeness cannot be purchased in the market outright.
(vi) Hard work :
Entrepreneur should put in strenuous efforts and constant endeavours to accomplish the goals of the venture successfully. They have to courageously face uncertainties, risks and constraints.