INTRO

TO
ENTREPRENEURSHIP

LESSON 1
 OBJECTIVES
01 KNOW THE DEFINITION OF ENTREPRENEURSHIP AND ENTREPRENEUR

02 INTERPRET THE ROLE OF ENTREPRENEUR IN ECONOMIC DEVELOPMENT

03 MINIMIZE THE ENTREPRENEURAL DECISION PROCESS

04 EXERCISE THE ENTREPRENEURAL ACTIVITY AROUND THE WORLD

05 INTERPRETTHE ETHICS AND SOCIAL RESPONSIBILITY OF ENTREPRENEUR

06 INVESTIGATE CORPORATE ENTREPRENEURSHIP AND ITS USE IN ESTABLISH FIRMS

WHAT IS
ENTREPRENEURSHIP?

it is a the process of starting a

business or other
organizations.
It is a set of tasks called for by
this behavior can be
accomplished by either an
individual or a group and
typically requires creativity,
drive, and a willingness to take
risks.
 ENTREPRENEUR

It is derived from the French verb

"ENTERPRENDE" which means to do
something or to undertake.

An Entrepreneur is someone who

decides to take things into his own
hands to bring a positive things in
the world around him with his vision
and scrappy attitude while accepting
all the risks and hardships that come
along with it.
 ENTREPRENEUR

Mr. Peter Drucker (1909 to 2005) BUSINESS

describing the entrepreneurship as EXPERT
someone who actually searches for
change, responds to it and exploits
change as an opportunity.

Mr. Joseph schumpeter - (1883-1950)

Australian
= entrepreneur is a person who is willing
Political
and able to convert a new idea or
Economist
invertion into a succesful innovation
 ENTREPRENEUR

Mr. Howard Stevenson- "

Entrepreneurship is the pursuit of
opportunity beyond resources
controlled"

PROFESSOR OF BUSINESS
ADMINISTRATION AT HARVARD
BUSINESS SCHOOL
 ENTREPRENEUR
Entrepreneurs run structured
experiments to validate ideas and
refine business strategy. You will
dive deep into the numbers behind
how entrepreneurs and their
investors make financial decisions
to create value and grow their
operations. Whether you are a
current or aspiring entrepreneur or
someone who is looking to gain an
understanding of how businesses
are built.
-Harvard University
 2 TYPES OF ENTREPRENEUR

-MEGA
-MICROENTREPRENEUR
ENTREPRENEUR
- INDIVIDUALS WHO ARE - INDIVIDUALS WHO ARE
ENGAGED IN MICRO OR SMALL
WILLING TO ABSORB HUGE
BUSINESS AS AN ALTERNATIVE
RISKS OF USING ENORMOUS
FORMAL EMPLOYMENT.
AMOUNTS OF CAPITAL IN THEIR
BUSINESS VENTURES.
 IMPORTANCE OF ENTREPRENEURSHIP

IT CAN GENERATES NEW WEALTH IN AN ECONOMY.

IT CREATES NEW OPPORTUNIES TO ENSURES

SOCIAL JUSTICE, INSTILLS CONFIDENCE AND
STIMULATES THE ECONOMY.

IT IMPROVES PRODUCTIVITY

IT CREATE INNOVATION AND SOCIAL

CHANGE

IT DECREASES POVERTY
 WHO CAN BE AN ENTREPRENEUR
CREATIVITY DEDICATION DETERMINATION

FLEXIBILITY LEADERSHIP

PASSION SELF-CONFIDENCE SMART

 PERSONAL ATTRIBUTES OF A
SUCCESSFUL ENTREPRENEUR

CREATIVITY IS THE SPARK THAT DRIVES THE DEVELOPMENT OF NEW

PRODUCTS IDEAS OR WAYS TO DO BUSINESS.
IT IS THE PUSH FOR INNOVATION AND IMPROVEMENT.

IS WHAT MOTIVATES THE PERSON TO WORK HARD TO GET DEDICATION

THE ENDEAVOUR OF THE GROUND.
PLANNING AND IDEAS MUST BE JOINED BY HARDWORK TO
SUCCEED.
DEDICATION MAKES IT HAPPEN.

DETERMINATION IS THE EXTREAMLY STRONG DESIRE TO ACHIEVE SUCCESS

IT INCLUDES PERSISTENCE AND ABILITY TO BOUNCE BACK
AFTER ROUGH TIMES.
 PERSONAL ATTRIBUTES OF A
SUCCESSFUL ENTREPRENEUR

FLEXIBILITY IS THE ABILITY TO MOVE QUICKLY IN RESPONSE TO

CHANGING MARKET NEEDS.
IT IS BEING TRUE TO A DREAM WHILE ALSO BEING MINDFUL
OF MARKET REALITIES.

IS THE ABILITY TO CREATE RULES AND TO SET GOALS. LEADERSHIP

IT IS THE CAPACITY TO FOLLOW THROUGH TO SEE THAT
RULES FOLLOWED AND GOALS ARE ACCOMPLISHED.

PASSION
IS WHAT GETS ENTREPRENEURS STARTED AND KEEPS THEM
THERE.
IT GIVES ENTREPRENEURS THE ABILITY TO CONVINCE OTHERS
TO BELIEVE IN THEIR VISSION
IT CANT SUBSTITUTE.FOR PLANNING, BUT IT WILL HELP THEM TO
STAY FOCUSED AND TO GET OTHERS TO LOOK AT THEIR PLANS.
 PERSONAL ATTRIBUTES OF A
SUCCESSFUL ENTREPRENEUR

SELF-CONFIDENCE COMES FROM THOROUGH PLANNING, WHICH REDUCES UNCERTAINTY

AND THE LEVEL OF RISK.
IT ALSO COMES FROME EXPERTISE.
SELF-CONFIDENCE GIVES THE ENTREPRENEUR THE ABILITY TO LISTEN
WITHOUT BEING EASILY SWAYED OF INTIMIDATED.

CONSITS OF COMMON SENSE JOINED WHITH KNOWLEDGE SMARTS

OR EXPERIENCE IN A RELATED BUSINESS OR ENDEVOUR.
TO FORMER GIVES A PERSON GOOD INSTINCTS, THE LATTER,
EXPERTISE.
MANY PEOPLE HAVE SARTS THEY DONT RECOGNIZE.
A PERSON WHO SUCCESSFULY KEEPS A HOUSEHOLD ON A
BUDGETS HAS ORGANIZATIONAL AND FINANCIAL SKILLS .
EMPLOYMENT, EDUCATION,AND LIFE EXPERIENCES ALL
CONTRIBUTE TO SMARTS
 RISKS AND BENEFITS
WHAT LEADS A PERSON TO STRIKE OUT ON HIS OWN AND
START A BUSINESS

ENTREPRENEURS are their own bosses. they make the

decisions. it offers a greater possibility of achieving
significant financial rewards than working for someone else.

It gives an individual the opportunity to build equity,

which can be kept, sold, or passed on to the next
generation.
It provides the ability to be involved in the whole lifecycle of
the business.
it offers the prestige of being the person in charge.

Entrepreneurship creates an opportunity for a person

to make a contribution.
most new entrepreneurs help the local economy.
 PROS AND CONS TO
ENTREPRENEURSHIP
Advantage
-often people do not feel fully
compensated for the work they do.
Becoming an entrepreneur means you
can reap the benefits of all your
hardwork.

Disadvantages
-Becoming an entrepreneur means SALARY
you hve to leave behind the security
of being paid each month.
 PROS AND CONS TO
ENTREPRENEURSHIP
Advantage
-Having control over your work
schedule means that you can choose
when to take time off and work the
schedule that suits you best.

Disadvantages
Although entrepreneurs benefit from
a flexible schedule they often have to FLEXIBILITY
work very long hours particularly in
the start-up phase.
 PROS AND CONS TO
ENTREPRENEURSHIP
Advantage
-Entrepreneurs are able to make al of
the decisions relating to their
company themselves. they have
complete control

Disadvantages
-Being responsible for all decisions DECISIONS
can be quite stressful and handling
such responsibility can be difficult.
 PROS AND CONS TO
ENTREPRENEURSHIP
Advantage
-Becoming an entrepreneur is a very
exciting time, from the idea and
start-up to the development and
realization of the product or service..

Disadvantages
-There is also great risk attached to EXCITEMENT
entrepreneurship. the success or
failure of the business rests with the
entrepreneur.
GIVE THE 1ST FIVE