CHAPTER 1

Introduction to Entrepreneurship

By: MAIZURAMOHAMAD (DR)

AT THE END OF THIS CHAPTER YOU SHOULD BE
ABLE TO:

✓ Explain the evolution and concept of entrepreneurship

✓ Discussed the importance of entrepreneurship
✓ Identify Ten Myth of Entrepreneurship
✓ Discussed Entrepreneurship development in Malaysia
 The word "entrepreneur" comes from the French verb entreprendre,
meaning "to undertake"

Studying entrepreneurship benefits students and learners from different social and economic backgrounds
because it teaches people to cultivate unique skills and think outside the box. Moreover, it creates opportunity,
instills confidence, ensures social justice and stimulates the economy.- Why We Need to Study and Learn
Entrepreneurship, Constantine, 2017
 THE ENTREPRENEURSHIP EVOLUTION

Risk & Management

(contract) Innovator
Marco Polo
17th 18th 19th – 20th 21st
Early Middle
Century Century Century Century
Managing Idea and Free
Production invention Enterprise
Works (Technology) (owner)
(government)
 THE ENTREPRENEURSHIP EVOLUTION

Early & Middle 17th Century 18th Century 19th – 20th Century 21st Century
 CONCEPT OF ENTREPRENEURSHIP
Entrepreneurship is……
1. Involves process of creation
(but must have value)
2. Time and effort Histrich and Peter (1998)
3. Assuming risks
4. Outcome - reward
 CONCEPT OF ENTREPRENEURSHIP
Entrepreneurship is……
1. Individual
2. Organizational
Kuratko and Hodgetts (2004)
3. Environmental
4. Process
CONCEPT OF ENTREPRENEURSHIP
The term “entrepreneur” was applied to business initially by the French
economist, Cantillon, in the 18th century, to designate a dealer who purchases
the means of production for combining them into marketable products.

A person who creates a new business (with uncertainty) to achieve profit and
business growth by identifying opportunities and assemble the resources to
capitalise it. They usually start with idea (simple one) and transform into
sustainable business
Scarborough and Zimmerer (1998)

A person who undertakes to organize, manage and assume risks of business.

They are catalyst for economic change (search, planning and sound judgement
when do their work), creative to establish new things
Kuratko and Hodgetts (2004)
CONCEPT OF ENTREPRENEURSHIP

https://timreview.ca/sites/default/files/article_PDF/Saifan_TIMReview_February2012_0.pdf
CONCEPT OF ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP
ENTREPRENEURSHIP MYTH

A widely held but false belief or idea.

ENTREPRENEURSHIP MYTH
ENTREPRENEURSHIP DEVELOPMENT IN MALAYSIA
Entrepreneurship ecosystem in Malaysia supported by:
Ministry of Entrepreneur Development and Cooperatives (MEDAC)
QUESTIONS??
o To discuss in our FORUM

o Ask as many questions as you want about the

topic

o Always get ready with your notes and material

during online class
See you in next online
class…