University

 of  Djillali  Liabes  

Faculty  of  Economics,  Commerce  and  Management                    
Department  of  Economics  
Master  1  Audit  and  Corporate  finance  
Dr.  Nassima  Kaid  
2019/2020  
 
 
 
    Entrepreneurship  
 
This   lesson   deals   with   entrepreneurship   and   its   important   place   in   society.   It   develops  
students’  speaking  and  the  use  of  context-­‐specific  vocabulary  and  idiomatic  language.  The  
students’  own  opinions  form  the  basis  of  class  discussions.  
 
Match  each  idiom  with  its  appropriate  definition  
 
 
Idiom     Definition  
 
1.  to  get  a  break   a.   to   do   something   you   really   want   to   do,   even   though   it  
might  be  dangerous  or  risky  
2.  nothing  ventured,  nothing  gained   b.  achievement  leads  to  great  achievement  
 
3.  to  take  the  plunge   c.  to  obtain  a  favorable  and  beneficial  opportunity  
 
4.  to  think  outside  the  box   d.  to  think  creatively  in  a  different  way  to  how  most  people  
think  
5.to  make  a  go  of  it   e.   an   opportunity   for   a   product   or   a   service   that   does   not  
already  exist  
6.  movers  and  shakers   f.  to  make  a  successful  start  in  something  
 
7.  a  niche  in  the  market   g.  to  start  or  establish  something  as  a  new  business  
 
8.  to  get  off  the  ground   h.  people  who  make  changes  and  have  an  impact  on  society  
9.  ‘success  breeds  success’   i.   a   phrase   which   means   that   you   have   to   take   a   risk   in   order  
to  get  something  good  
 
Entrepreneurship,   which   is   one   of   the   most   powerful   economic   forces   known   to  
humankind,  is  the  symbol  of  business  tenacity  and  achievement;  it  empowers  individuals  to  
seek  opportunity  where  others  find  intractable  problems.  
 Entrepreneurs  are  innovators.  They  are  people  with  a  clear  vision  about  how  they  
want   to   make   their   mark   in   the   world.   They   are   individuals   who   (1)………………..;  
(2)……………………..  who  (3)………………….  and  overcome  difficulties  (4)………………….  
Britain  is  home  to  many  internationally  recognized  entrepreneurs,  and  is  the  number  one  
location   for   European   headquarters.   More   overseas   companies   choose   to   set   up   their  
business  in  Britain  than  anywhere  else.  The  British  government  encourages  links  between  
universities  and  enterprise  to  help  young  people  (5)  …………………..  in  today’s  global  market.  
Famous   entrepreneurs,   such   as   Richard   Branson,   are   renowned   for   believing  
(6)……………………………..   They   realize   that,   in   order   (7)   …………………………,   innovators   must  
identify   (8)………………………..and   be   prepared   to   take   a   risk.   They   understand   that  
(9)………………………………   and   the   achievements   of   just   one   person   can   have   an   impact   on  
the  world  and  change  the  lives  of  many.    
 
Entrepreneurs,   with   their   inherent   intelligence,   drive   and   hard   work,   have   made  
best   use   of   the   opportunities   available   to   them.   Some   entrepreneurial   characteristics  
include   motivation,   risk   tolerance,   creativity,   clear   objectives,   good   communication   skills,  
interpersonal   skills,   basic   management   skills   and   leadership   skills.   Entrepreneurs   can   be  
classified   on   the   basis   of   the   type   of   business,   use   of   technology,   ownership,   size   of  
enterprise,  etc.  For  instance,  Clarence  Danhof  distinguishes  four  types  of  entrepreneurs:  
Innovating   entrepreneurs:  introduce  new  products/  services  and  initiate  a  new  system  in  
the   economy/   environment.   They   are   aggressive   in   nature   and   present   their   products   with  
zeal  and  devotion.  
Imitative/adoptive:   imitate   existing   entrepreneurs   and   set   their   enterprise   in   the   same  
manner.  Instead  of  innovation,  they  just  adopt  technologies  and  methods  set  up  by  others.  
They  are  helpful  in  under-­‐developed  countries.  They  are  few  risk  takers.  
Fabian:  are  skeptic  and  cautious  in  taking  a  step.  They  love  to  remain  in  the  same  business  
with  old-­‐fashioned  techniques.  These  entrepreneurs  adopt  new  technology  only  when  they  
realize  that  failure  to  adopt  will  lead  to  the  collapse  of  the  enterprise.  
Drone   entrepreneurs:   are   stubborn   to   change.   They   are   conservative   and   orthodox   in  
outlook.  They  are  comfortable  with  old  technology  despite  the  technological  advancement  
of  society.  
Exercise  01:  Find  synonyms  to  the  following  words  in  the  text  
 
Perseverance  =  
Difficult=  
To  impact=    
Foreign=  
Famous=  
Divided=  
Exercise  02:  Answer  the  following  questions  
1. what  are  the  main  characteristics  of  entrepreneurs?  
2. What  does  entrepreneurship  mean?  
3. How  many  types  of  entrepreneurs  does  Clarence  Danhof  propose?  
Exercise  03:  Translate  the  following  paragraph  into  French  or  Arabic  
Entrepreneurs,  with  their  inherent  intelligence,  drive  and  hard  work,  have  made  best  use  of  
the   opportunities   available   to   them.   Some   entrepreneurial   characteristics   include  
motivation,   risk   tolerance,   creativity,   clear   objectives,   good   communication   skills,  
interpersonal   skills,   basic   management   skills   and   leadership   skills.   Entrepreneurs   can   be  
classified   on   the   basis   of   the   type   of   business,   use   of   technology,   ownership,   size   of  
enterprise,  etc