ENTREPRENEURSHIP

(assignment :1)
Name : Id : Work:

Akash dey 1703610109300 Introducation ,Important roles

Rajash Ghose 1703610109368 Types of entrepreneur

Subject code :Bus 351

Semester :5th

Lecturer name :Ishrath sharmin

Submission date :06-07-2020

1.INTRODUCATION..............................................................................................................

2.COMPANY..............................................................................................................................

3.TYPES OF ENTREPRENEUR ............................................................................................

4.IMPORTANT ROLES OF THE COMPANY IN ECONOMIC DEVELOPMENT OF

5.CONCLUSION .....................................................................................................................

REFERENCES .................................................................................................................
1.INTRODUCATION

An entrepreneur is an individual who creates a new business, bearing most of the risks and
enjoying most of the rewards. The entrepreneur is commonly seen as an innovator, a source
of new ideas, goods, services, and business/or procedures.

Entrepreneurs play a key role in any economy, using the skills and initiative necessary to
anticipate needs and bring good new ideas to market. Entrepreneurs who prove to be
successful in taking on the risks of a startup are rewarded with profits, fame, and continued
growth opportunities. Those who fail, suffer losses and become less prevalent in the markets.
[ CITATION Ada20 \l 1033 ]

Elahi was born on February 16, 1942 in Kolkata, West Bengal, British India. His father Sir
Syed Nasim Ali was Chief Justice of the undivided Bengal in 1946.

He received his B.A. from St. Xavier's College, Kolkata. He earned his Masters from
the University of Dhaka in Economics. He founded and is the chairman of Holiday
Publications Limited. He moved to Dhaka in 1962 from Kolkata. In 1972, he resigned from
his job and started working as an agent for a French leather importer. In 1975, Bangladesh
government started to privatize companies that were nationalised. He bought one such
company, Orient Tannery, in Hazaribag, Dhaka for 1.2 million taka.

Manzur ventured into the business world on his 30th birthday after a 7-year tenure at British
American Tobacco. He is the chairman of Apex group. He is an administrator of Federation
of Bangladesh Chambers of Commerce and Industry. He is a former advisor to the Caretaker
Government of Bangladesh. He is the chairman of the Trustee board of East West
University. In 2008, he was the president of Dhaka University Alumni Association. He held a
term as the chairman of Pioneer Insurance Company Limited.

2.company details

To see a different face of Bangladesh manufacturing, a country that has earned notoriety with
its ready-made garment plants, one drives 25 miles north of Dhaka city to Gazipur district.
Amid a predominantly industrial enclave of garment makers is a 24-acre site where 5,500
workers, mostly women, are busy stitching not clothes but a range of stylish leather shoes.

This is the factory of Dhaka Stock Exchange-listed Apex Footwear, Bangladesh's leading
footwear exporter. It started manufacturing leather shoes more than two decades ago. Today
it is among the largest shoemakers on the subcontinent, shipping 4.5 million pairs annually to
130 retail customers in 40 countries, including Macy's and J.C. Penney in the U.S.,
ABC Mart in Japan and Deichmann in Germany. Additionally, it produces 3 million pairs for
the domestic market that are sold through a chain of 550 outlets across the country.

Visiting Apex Footwear's factory in Gazipur one hot and humid June morning I quickly grasp
that this is no sweatshop. The complex includes, among much else, an effluent treatment
plant, a purification plant for drinking water, a medical clinic and a day nursery. Workers, I'm
told, get an average monthly wage of $100, which is higher than the $75 mean in the
garments sector. In addition, they are covered for medical and life insurance, and get bonuses
twice a year plus a share of profits.

Thirty-year-old Rawshona Khatun, who works on the shop floor, says these benefits and an
8-hour workday drew her from a previous job at a garments unit nearby where a 12-hour
daily shift was the norm.

"Since shoemaking is a very labor-intensive business and we operate in the heartland of the
ready-made garments industry, we have to remain a step ahead. We see our compliance
standards and worker benefits as our competitive advantage," says Manzur Elahi, founder-
chairman of the $200 million (sales) Apex Group, whose other listed entities are leather-
producer Apex Tannery, Mutual Trust Bank and Pioneer Insurance.[ CITATION Naa14 \l
1033 ]

3.Types of entrepreneur :

Researchers who have studied entrepreneurial behaviour suggest that there are different types
of entrepreneurs. Classifying entrepreneurs into various categories is a tricky issue. The
taxonomy of entrepreneurs can be carried out in various ways. Entrepreneurs can be
classified on various basis. Clarence Denhof Classifies entrepreneurs on the basis of stage of
economic development: some others have classified on the basis of their functions and
characteristics. In the initial stages of economic development, entrepreneurs tend to have less
initiative and drive. As development proceeds, they become more innovating and
enthusiastic. The various types of entrepreneurs are classified on certain parameters. Some
important classifications are described below.
Business Entrepreneurs: They are the entrepreneurs who conceive an idea for a new
product or service and then create a business to materialize their idea into reality. They tap
the entire factor of production to develop a new business opportunity. They may set up a big
enterprise or a small scale business. When they establish small business units they are called
small business entrepreneurs. In a majority of cases, entrepreneurs are found in small trading
and manufacturing business.
Industrial Entrepreneur: Industrial entrepreneur is essentially a manufacturer who
identifies the needs of customers and creates products or services to serve them. He is
product-oriented who starts through an industrial unit to create a product like electronic
industry, textile unit, machine tools.
4.important role of the company in economic development of the country
Importance of economic in Development – economic sector is of great Importance of
economic in Development of a country. It is a proven fact that a country with strong
industrial sector have shown more economic growth, had improved national income and
promoted living standard of people. Industrialization has played an important role in
improving the economic conditions of various countries like America and Japan, by
removing unemployment. Advantages of Industrialization are as follows

1. Economic Stability:

A country that only depends upon agriculture sector cannot achieve stability. There is an
imbalance, only the man-power i.e. labour-intensive technology is being used. Hence,
industrialization provides economic stability to the country where in the country is not solely
dependent on only one sector. There is a balance between the contribution of both the sectors
to the economy.You are reading article on Importance of economic in Development of
country .

2. Improvement of Balance of Payment and government revenue:

Due to industrialization, domestic goods i.e. goods manufactured by own country increases,
and so does it’s exports. It is favorable for balance of payment because value of finished
goods increases as compared to the primary goods. Collection of taxes like excise duty ,
indirect taxes, income taxes also increases with industrialisation.

3. Improvement in Investment and Spending:

Industrialization causes the income of people to rise, and improves their standard of living.
There is a rise in income, and so rate of savings, rate of investment and rate of spending also
rises automatically. This is an important event for the rapid growth of a country.

And last but not the least, it provides huge employment to the people of a country. Thereby
eliminates most of the social and economic problems of a country , as unemployment is the
route cause that has underpinned all the drawbacks for a country.The most Importance of
Industries is to reduce unemployment.

4. Increase in foreign exchange reserve:

With the introduction of more and more industries, there will be a rise in foreign exchange
earnings. The exports will rise and imports will start falling in numbers. There would be more
cash inflow, self-sufficiency will increase.[ CITATION Kri20 \l 1033 ]
5.conclusion
In conclusion, if potential entrepreneurs include the entrepreneurial approaches of syed
manzur elahi as analyzed in this study, it will contribute to their managerial skills and help
them discover that to become a successful entrepreneur like elahi, they have to possess
internally driven motives that will motivate them throughout their career. Aside from being
motivated, that will also discover that self belief, risk taking propensity are traits necessary to
cease opportunities and to take calculated risk that would lead to high profitability, they need
to adopt a specialist thinking style, finally it is evident that to build a successful
entrepreneurial, enormous capabilities and creativity are required, in order to be able to
transform declining business into fortune.
References:

Bibliography
HAYES, A. (2020). Entrepreneur. INVESTOPEDIA .

karmali, N. (2014). Bangladesh's Apex Group Emerges As Shoemaker To The World. Forbes .

Rawat, K. (2020). Importance of Industries in Development of a Country. my study time .