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1

Introduction ToEntrepreneurship

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t the end of this to ic student are iven the followin

competencies: n erstan ng t e concept o entrepreneurs p an

entrepreneur

Identifying characteristics of successful entrepreneurs

-entrepreneur

.

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Contents Definition/concept of entrepreneurship and

Why become an entrepreneur?

Characteristics of successful entrepreneur

dvanta es/disadvanta es of entre reneurshi

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The World of the EntrepreneurThe World of the Entrepreneur Every year U.S. entrepreneurs launch 550,000 newEvery year U.S. entrepreneurs launch 550,000 new

businesses.businesses.

Entrepreneurial spiritEntrepreneurial spirit -- the most significant economicthe most significant economic..

Global Entrepreneurship Monitor (GEM) studyGlobal Entrepreneurship Monitor (GEM) study: 18.7% of: 18.7% ofa u t popu at on n t e U. . s act ve y nvo ve n try nga u t popu at on n t e U. . s act ve y nvo ve n try ngto start a new business.to start a new business.

3/1/2012 1 - 4Ch. 1: The Foundations of Entrepreneurship

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e or o e n repreneure or o e n repreneur

GEMGEM study reports:study reports:

Men are twice as likel to start a business as women.Men are twice as likel to start a business as women.

Most entrepreneurs turn to family members and friends forMost entrepreneurs turn to family members and friends for..

Entrepreneurs are most likely to launch businesses whenEntrepreneurs are most likely to launch businesses when..

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is the rocess of creatin somethin new with value bdevoting the necessary time and effort, assuming the

, , ,receiving the resulting rewards of monetary and

.

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A firm that operates and implements combinations ofnew activities such as product development, market

research, sourcing materials, manufacturing and so on(Shum eter, 1 4)

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Someone who engages in entrepreneurshipSomeone who engages in entrepreneurship

WhoWho or anizes, mana es andor anizes, mana es and assumesassumes the risks of athe risks of abusiness or enterprisebusiness or enterprise

and take on the risks required to convert ideas intoand take on the risks required to convert ideas into

Someone who actually search for change, respond to it andSomeone who actually search for change, respond to it and

3/1/2012Ch. 1: The Foundations of Entrepreneurship 1 - 8

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Who Are The Entrepreneurs?

Paradigm shifters, innovators and opportunists

Wealth and employment creators

Economic engine drivers

Ke actors of the Mala sian Econom

Entrepreneurs are made and not born

ou can e t e entrepreneur - you ave w at t ta es

People who like to be their own boss

People who has experienced a social disruption?

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Wh Become Entre reneurs?

How peop e ecome entrepreneur ? y es gn an

default. To be own boss

Pursue their own ideas

Realize financial rewards

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To be own boss Contribute to society and to be recognized for your

e orts Create our own destin

Do what you enjoy and to have fun at

Reach your full potential

Reap impressive profits

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Characteristics of successful

en repreneur ome examp es

Concern for quality of work Efficient Good business strate High commitment Hi h initiative Persistence

Searchin for information Self-Confident Systematic planner

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What can you say about the

characteristics of following

n v ua sa u ony ernan ez

Bill Gates

Tan Sri Syed Mukhtar Albukhari

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Advantages of entrepreneurship

Autonomy self control

ersonne sa s ac on an c a enge

Wealth creation gain more income

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Disadvantages of entrepreneur Complete responsibility

H g eve s o stress Long hours and hard work

Lower quality of life until the business gets established

-

Uncertainty of income

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Contribution of entrepreneurs Creating employment

Discovering new source of materials

Introducing new technology

Mobilizin ca ital resources

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What is your opinions of these

s a emen s

, Entrepreneurs are gambler

Entrepreneurs are motivated by money

Entre reneurs should be oun and ener etic

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