ENTREPRENEURSHIP

What is
Entrepreneur?
Entrepreneurs V. Intrapreneurs
 Successful Unsuccessful
Entrepreneur Entrepreneur
• Creative and innovative • Poor Managers
• Position themselves in • Low work ethic
shifting or new markets
• Create new products • Inefficient
• Create new processes • Failure to plan and
prepare
• Create new delivery
• Poor money managers
So, what is Entrepreneurship?
 Entrepreneurship

• Identifying and using the opportunities exist in the market;

• Converting the ideas into action;
• Undertaking promotional activities to launch an enterprise;
• Striving for excellence in his/her field of work;
• Bearing the risk and uncertainties involved, and
• Harmonising.
 Issues Faced by Entrepreneurs

• Selection of business
• Form of business enterprise
• Financing
• Location
• Size of unit
• Machines and equipment
• Suitable man power
 Entrepreneurial Process

Development
Discovery Resourcing Actualization Harvesting
Concept
 1. Discovery

• Identify and evaluate the opportunities

• Feasibility/Market study – consumer need
• Test market – survey and questionnaires
 2. Development Concept
• Development of the business plan/proposal:
Executive summary
Mission, vision
Company overview
Description of product or service
Market
Marketing/promotional plan
Competitors analysis
SWOT Analysis
• Business location
• Patent or trademark
 3. Start-up Resources

• Financial
• Human
• Capital
 4. Actualization

• Manage and operate the new business

• Utilises resources
 5. Harvesting

• Future growth and development

 Tutorial

• As an entrepreneur, write a simple essay regarding entrepreneurial process

of your new business.
• You are free to choose type of business (related to built environment).
• Not more that 3 pages of A4 paper.