1 a Introduction to Entrepreneurship

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Introduction to Entrepreneurship

There is tremendous

interest in

entrepreneurshiparound the world

According to the GEM

2005 study, about 330

million people, or !"o# the adults in the 35

countries sur$eyed, are

in$ol$ed in #orming

new businesses



Komposisi Nilai

Kewirausahaan

• UTS : 30%

• Tugas Selling : 20%

• Tugas Business Plan: 20%

• Tugas-tugas lain %

• Presentasi Business Plan 2%

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Introduction to Entrepreneurship

There is tremendous

interest in

entrepreneurshiparound the world

According to the GEM

2005 study, about 330

million people, or !"o# the adults in the 35

countries sur$eyed, are

in$ol$ed in #orming

new businesses



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%hat is Entrepreneurship&' o# 2(

) *rigin o# the %ord +Entrepreneur - The word was originally used to describe people who +ta.e on the ris. between

buyers and sellers or +underta.e a tas. such as starting a new $enture/

- The +underta.e interpretation o# the word has been central to its usage inEnglish/

- Etymology: +Entrepreneur is a loanword #rom rench1

- +Entreprende 'a $erb in rench( means +to undertake+

- In ans.rit, +Antha Prerna 'which sounds close to entrepreneur( means +Self motivated+

) i##erence 4etween an In$entor and an Entrepreneur - An in$entor creates something new/

- An entrepreneur puts together all the resources neededthe money, the people,the strategy, and the ris.6bearing ability to trans#orm the in$ention into a $iable business/



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%hat is Entrepreneurship&' o# 2(

) i##erence 4etween an In$entor and an Entrepreneur - An in$entor creates something new/

- An entrepreneur puts together all the resources neededthe

money, the people, the strategy, and the ris.6bearing abilityto trans#orm the in$ention into a $iable business/



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%hat is Entrepreneurship&'2 o# 2(

) Entrepreneurship e#ined

- Entrepreneurship is the process by which indi$iduals

pursue opportunities without regard to the resources they

currently control/ - The essence o# entrepreneurial beha$ior is identi#ying

opportunities and putting use#ul ideas into practice/

- The set o# tas.s called #or by this beha$ior can be

accomplished by either an indi$idual or a group andtypically re7uires creati$ity, dri$e, and a willingness to ta.e

ris.s/



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8orporate Entrepreneurship' o# 2(

) 8orporate Entrepreneurship

- Is the conceptuali9ation o# entrepreneurship at the #irm

le$el/

- All #irms #all along a conceptual continuum that ranges#rom highly conser$ati$e to highly entrepreneurial/

- The position o# a #irm on this continuum is re#erred to as

its entrepreneurial intensity/



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8orporate Entrepreneurship'2 o# 2(

Entrepreneurial irms 8onser$ati$e irms

) :roacti$e

) Inno$ati$e

) ;is. ta.ing

) Ta.e a more +wait and see

posture

) <ess inno$ati$e

) ;is. ad$erse



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%hy 4ecome an Entrepreneur&

There are three primary reasons that people becomeentrepreneurs and start their own #irms

esire to be their own boss

inancial rewards

esire to pursue their

own ideas



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8haracteristics o# uccess#ul Entrepreneurs' o# 3(

our :rimary 8haracteristics o# uccess#ul Entrepreneurs



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8haracteristics o# uccess#ul Entrepreneurs'2 o# 3(

) :assion #or the 4usiness

- The number one characteristic shared by success#ul

entrepreneurs is a passion #or the business/

- This passion typically stems #rom the entrepreneur=s belie#that the business will positi$ely in#luence people=s li$es/

) :roduct>8ustomer ocus

- A second de#ining characteristic o# success#ul entrepreneurs

is a product>customer #ocus/ - An entrepreneur=s .een #ocus on products and customers

typically stems #rom the #act that most entrepreneurs are, at

heart, cra#tspeople/



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8haracteristics o# uccess#ul Entrepreneurs'3 o# 3(

) Tenacity espite ailure

- 4ecause entrepreneurs are typically trying something new,

the #ailure rate is naturally high/

- A de#ining characteristic #or success#ul entrepreneurs istheir ability to perse$ere through setbac.s and #ailures/

) E?ecution Intelligence

- The ability to #ashion a solid business idea into a $iable

business is a .ey characteristic o# success#ul entrepreneurs/) The ability to translate thought, creati$ity, and imagination into

action and measurable results is the essence o# e?ecution

intelligence/



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8ommon Myths About Entrepreneurs' o# 5(

) Myth 1 Entrepreneurs Are 4orn @ot Made

- This myth is based on the mista.en belie# that some people

are genetically predisposed to be entrepreneurs/

- The consensus o# many studies is that no one is +born to be an entrepreneur e$eryone has the potential to become

one/

- %hether someone does or doesn=t become an entrepreneur

is a #unction o# the en$ironment, li#e e?periences, and personal choices/



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8ommon Myths About Entrepreneurs'2 o# 5(

Although no one is +born to be an entrepreneur, there are common personality traits and characteristics o# success#ul entrepreneurs

) Achie$ement moti$ated

) Alert to opportunities

) 8reati$e

) ecisi$e

) Energetic

) Bas a strong wor. ethic

) Is a moderate ris. ta.er

) <engthy attention span

) *ptimistic disposition

) :ersuasi$e

) :romoter

) ;esource assembler

) el#6con#ident

) :ersistent

) Tolerant o# ambiguity

) Cisionary



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) Myth 21 Entrepreneurs Are Gamblers

- A second myth about entrepreneurs is that they are

gamblers and ta.e big ris.s/ The truth is, most

entrepreneurs are moderate ris. ta.ers/ - The idea that entrepreneurs are gamblers originates #rom

two sources1

) Entrepreneurs typically ha$e Dobs that are less structured, and so

they #ace a more uncertain set o# possibilities than people in

traditional Dobs/

) Many entrepreneurs ha$e a strong need to achie$e and set

challenging goals, a beha$ior that is o#ten e7uated with ris. ta.ing/



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8ommon Myths About Entrepreneurs'! o# 5(

) Myth 31 Entrepreneurs Are Moti$ated :rimarily by

Money

- %hile it is na$e to thin. that entrepreneurs don=t see.

#inancial rewards, money is rarely the reason entrepreneursstart new #irms/

- In #act, some entrepreneurs warn that the pursuit o# money

can be distracting/



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) Myth !1 Entrepreneurs hould 4e Foung And

Energetic

- The most $ibrant age range #or early stage entrepreneurial

acti$ity is 25 to 3! years old/ - %hile it is important to be energetic, in$estors o#ten cite

the strength o# the entrepreneur as their most important

criteria in ma.ing in$estment decisions/

) %hat ma.es an entrepreneur +strong in the eyes o# an in$estor ise?perience, maturity, a solid reputation, and a trac. record o#

success/

) These criteria o#ten #a$or older rather than younger entrepreneurs/



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Types o# tart6p irms

Types o# tart6up irms



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8hanging emographics o#

Entrepreneurial irms' o# 3(

) %omen Entrepreneurs - There were H/5 million women6owned businesses in 2002, the most

recent year the // 8ensus 4ureau collected business ownership

data/ That number is up 20" #rom J/

) Minority Entrepreneurs - The number o# minority6owned businesses has also risen sharply/

) There were /2 million A#rican6American owned businesses in 2002, up

!5" #rom J/

) There were / million Asian6owned businesses in 2002, up 2!" #rom J/) There were 20H,25 @ati$e American6owned businesses in 2002, up 2!"

#rom J/



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Entrepreneurial irms'2 o# 3(

) enior Entrepreneurs - Although the 8ensus 4ureau does not collect data on senior

entrepreneurs 'people 55 years old and older(, there is strong

e$idence to suggest that the number o# older people starting

their own businesses is rapidly growing/ - The dramatic increase in the number o# senior entrepreneurs is

attributed to a number o# #actors, including1

) 8orporate downsi9ing/

) An increasing desire among older wor.ers #or more personal #ul#illmentin their li$es/

) Growing worries among seniors that they need to earn additional

income to pay #or #uture health care ser$ices and other e?penses/



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Entrepreneurial irms'3 o# 3(

) Foung Entrepreneurs - Interest in entrepreneurship among young people is also

growing/

) At the high school le$el, a Gallup study re$ealed that J out o# 0 high

school students want to start their own companies/) Interest in entrepreneurship on college campuses is growing/

According to a recent study, ,2 two6 and #our6years colleges and

uni$ersities now o##er at least one course in entrepreneurship, up #rom

300 in the K!6K5 school year/

) Although the bul. o# entrepreneurship education ta.es place within business schools, many other colleges and departments are o##ering

entrepreneurship courses as well, including engineering, agriculture,

theater, dance, education, law, and nursing/



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Economic Impact o# Entrepreneurial irms' o# 2(

) Inno$ation

- Is the process o# creating something new, which is central

to the entrepreneurial process/

- mall entrepreneurial #irms are responsible #or 55" o# allinno$ations in the //

) Lob 8reation

- In the past two decades, economic acti$ity has mo$ed in

the direction o# smaller entrepreneurial #irms, which may be due to their uni7ue ability to inno$ate and #ocus on

speciali9ed tas.s/



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Economic Impact o# Entrepreneurial irms'2 o# 2(

) Globali9ation

- Today, o$er J" o# all // e?porters are small businesses

with #ewer than 500 employees/

- E?port mar.ets are $ital to the // economy and pro$ideoutlets #or the sale o# // produced products and ser$ices/



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Entrepreneurial irms= Impact on ociety

and <arger irms

) Impact on ociety

- The inno$ations o# entrepreneurial #irms ha$e a dramatic

impact on society/

- Thin. o# all the new products and ser$ices that ma.e ourli$es easier, enhance our producti$ity at wor., impro$e our

health, and entertain us in new ways/

) Impact on <arger irms

- Many entrepreneurial #irms ha$e built their entire businessmodels around producing products and ser$ices that help

larger #irms become more e##icient and e##ecti$e/



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The Entrepreneurial :rocess

The Entrepreneurial :rocess 8onsists o# our teps

tep 1 ecision to become an entrepreneur

tep 21 e$eloping success#ul business ideas tep 31 Mo$ing #rom an idea to an entrepreneurial #irm

tep !1 Managing and growing an entrepreneurial #irm

1 a Introduction to Entrepreneurship

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