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    Introduction to Entrepreneurship

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    Introduction to Entrepreneurship

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    4 views17 pages

    Chapter 1 - Introduction To Entrepreneurship

    Uploaded by

    Phon Sophath
    Introduction to Entrepreneurship

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 17

    Chapter I:

    Introduction to Entrepreneurship

    January 2018
    By PHON Sophath

    1
    Grading Policy
    • Grading
    – 20%: Report
    – 80%: Business Plan Competition
    Bonus
    – 10%: Come and see me at the end!
    – 10%: Attendance

    2
    Attendance Policy
    • No absence = +10 scores
    • One absence = 0 score
    • Two absences = – 5 scores
    • Three absences = – 10 scores
    • Four absences = Failure
    NOTE:
    – There are NO excused absences.
    I WILL FAIL YOU IF I HAVE TO!
    3
    Instructor
    PHON Sophath
    • : ph.sophath@gmail.com

    • : 077/070-676-675

    • : Phon Sophath
    070-676-675

    4
    Contents
    • What is Entrepreneurship?
    • Entrepreneurs vs. Intrapreneurs
    • Entrepreneurs: Born or Made?
    • Who is an Entrepreneur?
    • Characteristics of successful entrepreneurs
    • Skills needed by successful entrepreneurs
    • Entrepreneurial process

    5
    What Is An Entrepreneur?

    ENTREPRENEURSHIP

    The pursuit of opportunity through


    innovation, creativity and hard work
    without regard for the resources currently controlled.

    6
    What Is An Entrepreneur?

    ENTREPRENEURSHIP

    An individual who undertakes the risk associated with


    creating, organizing, and owning a business.

    7
    Entrepreneurs V. Intrapreneurs
    Entrepreneur
    • people that notice opportunities and take
    the initiative to mobilize resources to
    make new goods and services.
    Intrapreneur
    • also notice opportunities and take
    initiative to mobilize resources, however
    they work in large companies and
    contribute to the innovation of the firm.

    • Intrapreneurs often become entrepreneurs.


    8
    Entrepreneurs: Born or Made?
    • Is there inborn talent required?
    then we can identify the main
    If characteristics
    Yes if we have them, fine - no others
    need to apply!

    we could start spotting talent in


    kindergarten and stream these people

    we could discourage people without


    these talents
    9
    Entrepreneurs: Born or Made?

    If then schools could teach


    anyone
    No
    companies could establish
    "nurseries" for them

    government "incubators"
    would be successes

    • The real answer lies somewhere in-between


    – Talent and education is the way 10
    Who is an Entrepreneur?
    Situational more than personality

    Flexibility Ability

    Age
    Distribution
    for
    Starting Company

    20 25 30 35 40 45

    Age
    11
    Who are entrepreneurs?

    Personalities Situational
    Persistent Self employed parents

    Creative Firstborns

    Inquisitive
    Between 25-40 years old

    Goal-oriented Well educated – 80% have


    college degree

    Risk taker
    12
    Personal characteristics of
    successful entrepreneurs

    Goal-
    Persistent Creative Inquisitive oriented
    Risk taker

    • not giving •looking at • asking • focused on • not afraid


    up, keep questions developing to do new
    new ways of a plan and things and
    trying doing and
    achieving take risks
    things, seeking your goals
    answers,
    developing curiosity
    solutions to
    problems

    13
    Skills needed by successful entrepreneurs

    Communication Ability to read, write and speaking in an


    skills understandable, accurate and professional manner.

    Human relations Ability to build and maintain positive


    skills relationships, working well with others

    Problem-solving the ability to assess situation and make good


    and Decision- decisions
    making skills

    Technical skills knowledge of computers and how to use them


    productively

    Basic business knowledge and understanding of the economy and


    skills business functions such as marketing and
    management 14
    Failure as “Learning Process”
    • Ignore it, then start again
    – Some find it easy to blame someone else
    • In public, always optimistic
    – Especially with funders
    – Agonise over what went wrong in private
    • Willingness to disregard the rules
    – Start from first principles.
    • Ability to "bend, not break" rules of life

    15
    16
    The Timmons Model of the
    Entrepreneurial Process
    Communication

    Opportunity Resources
    (2) (4)
    Business Plan
    Ambiguity Fits and gaps Exogenous forces

    Creativity Team Leadership


    (3)
    Uncertainty Capital markets

    Founder
    (1) 17

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