ENTREPRENUERSHIP

PRESENTATION.
SOFTWARE GROUP 11
TATUH ALEMAJOH ATEM FORMIN-FE18A068
TABI AGBOR LIZZY-FE18A097
TANYI EMMANUEL OBI-FE18A067
 CONTENTS
HISTORY OF ENTREPRENEURSHIP
THEORIES OF ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP THEORIES
FACTORS AFFECTING ENTREPRENEURSHIP DEVELOPMENT
MYTHS ASSOCIATED WITH ENTREPRENEURSHIP IN CAMEROON
 HISTORY OF ENTREPRENEURSHIP

• Entrepreneurship is defined as the visualization and realization of new ideas

by insightful individuals, who are able to use information and mobilized
resources to implement their vision.
• In common term it is the idea that a person can translate ideas of
connecting a business unit into reality by setting up a business on ground to
serve the needs of society and the nation, in the hope of making profits.
 HISTORY OF ENTREPRENEURSHIP

• The original entrepreneurs were traders and merchants.

• The first known instance of humans trading comes from New Guinea around
17,000 BCE, where locals exchanged obsidian, a black volcanic glass used to
make hunting arrowheads for other needed goods. These early
entrepreneurs exchanged one set of goods for another formally known as
Trade and Barter.
 HISTORY OF ENTREPRENEURSHIP

• Entrepreneurship started with the Agricultural Revolution

• Agriculture changed everything for humans, enabling the formation of stable rather than migratory populations and laying the
foundation for human populations to grow from 15 million to over 8 billion right now.
• As more people moved into these stable communities, one of the most important advances took place with the advent of specialization
• Instead of each tribe hunting and gathering their food, different individuals within each tribe would become experts at certain tasks,
such as farming, hunting, gathering, fishing, cooking, tool-making, shelter-building, or clothes-making.
• The importance of specialization in various tasks (versus self-sufficiency in all) cannot be overstated.
• As some individuals in a community focused on one activity or another, they got much better at it, speeding up the pace of innovation.
• As different people got better at different tasks through specialization, they were then able to exchange with one another for the
various goods and services needed, increasing the benefits for all
 HISTORY OF ENTREPRENEURSHIP

From the Agricultural revolution began the

• The formations of cities and towns (leading to store houses )
• Trade Routes (which allowed Ideas and Memes to Spread). Donkeys, horses, and camels enabled trade
caravans between civilizations, moving both goods and ideas. Ships were built to carry trade over the seas. Networks and hubs soon
formed and more complex structures emerged.

• The Invention of Money( as the trade and barter system of exchange was no longer efficient as the "co-incidence of
wants" often did not happen) Thus, the demands of growing business and trade gave rise to a money system. Different things like
Silver rings, bars, specie, seashells, tobacco leaves, large round rocks, or beads were all used as money before the cash system we all
now know was introduced

• The Creation of Markets and Machines

• Industrial revolution
• Digitalization which means no borders, infinite and unprecedented opportunities and much competition. As we see
today.
 THEORIES OF ENTREPRENEURSHIP

1) Innovation Entrepreneurship theory

What makes entrepreneurs different from normal businessmen is finding innovative solutions and having foresight. According to Joseph Alois
Schumpeter an entrepreneur takes the stationary economy to a new level of development by adding innovation and creativity. He also started that the
entrepreneur brings in innovation by
• By reducing the cost of production
• By increasing the demand for certain products
2) Economic Entrepreneurship theory
This theory was proposed by Richard Cantillon, he said an entrepreneur acts as both ‘producers’ and ‘exchangers’. An
entrepreneur’s action greatly affects the supply chain of raw products being collected, to become an end product for consumers.
Cantillon included everyone as an entrepreneur from their little action starting from a beggar to resturant owners as they also
have their source of unfixed income
 THEORIES OF ENTREPRENEURSHIP
3) Sociological Entrepreneurship theory
If an entrepreneur considers all the social aspects such as social taboos, customs,
culture, and other religious beliefs, they might have a well-established business that is
up to mark with every consumer’s expectation. 
4) Psychological Entrepreneurship theory
They are of three sections;
Locus of control
Theory of personal traits
Theory of need for achievement.
 THEORIES OF ENTREPRENEURSHIP

5)Opportunity based Entrepreneurship theory

The entrepreneur always searches for change, responds to it and exploits it as an
opportunity.
6) Resource-based Entrepreneurship theory
This theory states that entrepreneurs need resources to start and carry their businesses.
7) Anthropological Entrepreneurship theory
entrepreneurs should consider the social and cultural contexts.
 THEORIES OF ENTREPRENEURSHIP

8) Process of stage Entrepreneurship theory

This theory is once again divided into five stages describing the development journey
of an entrepreneur.

Identifying abilities and capacities of entrepreneurship

Expansion and development stage
Publicity foundation/Promotion
Feedback
 
 IMPORTANCE OF
ENTREPRENEURSHIP THEORIES
1.Entrepreneurship theories bring greater understanding of Entrepreneurship behavior exhibited
by different entrepreneurs.
2.They enable to understand they need for entrepreneurship and why some people are more
entrepreneurial than others.

3.The theories bring out various approaches and perceptions held by entrepreneurs.
4.Show that the desire for entrepreneurship is innate, as well as environmentally determined.
5.Helps us to understand the role played by role models through networks that provide support.
 FACTORS AFFECTING
ENTREPRENEURSHIP DEVELOPMENT
1.Aspiration and Attitude
2.Personal Factors
3.Family Circumstances
4.Government Policies, Facilities, and Incentives
5.Social and Cultural Factors
6.Progeny and Traditions
FACTORS AFFECTING ENTREPRENEURSHIP
DEVELOPMENT
7. Business Competition
8. Economic and Business Environment
9. Support System
10. Attitude of Big Entrepreneurs
11. Entrepreneurship Oriented Education and Training
12. Role of Banks and Financial Institutions
 MYTHS ASSOCIATED WITH
ENTREPRENEURSHIP IN CAMEROON

1. I Don’t Have Money to Fund my Business

What you should know is that if you don’t have a business idea, you
shouldn’t even think of funding. Funding should come only later. First of all,
develop your business idea, make sure it works and solves a problem before
you start to think about funds.
Another thing is that not all businesses need money to start.
 MYTHS ASSOCIATED WITH
ENTREPRENEURSHIP IN CAMEROON
2. Getting a Business Idea is Difficult
The first thing you should have in mind as a would-be entrepreneur is to get a business idea. Many
people find it difficult to come up with a business idea.
Firstly, you can start by Identifying your greatest source of satisfaction.
Fix a problem.
Monitor changes and trends.
Copy, if you can’t find one.
Just start doing something, anything.
 MYTHS ASSOCIATED WITH
ENTREPRENEURSHIP IN CAMEROON

3. My Business Idea Will be Stolen

By the time you are hiding your business idea, someone somewhere is already
implementing it. When you open up to others about your idea, they could help
you develop it better.
4. Marketing my Business is Expensive
Some people have the idea, but fear that they will not be able to get the right
market. But this has been solved with digital marketing. You can easily sell
your products on social media platforms.
 MYTHS ASSOCIATED WITH
ENTREPRENEURSHIP IN CAMEROON
5. Rituals (Nyongo, Famla, etc)
This is one of the reasons that discourage people from going into
entrepreneurship – the fear of being a member of the sect. In fact, this idea has
always been ridiculous to me. The only ritual I believe in is hard work and
smart thinking. If you don’t work hard or think smart, you can’t succeed as an
entrepreneur.
6. Entrepreneurs Are Born
Many people, believe that entrepreneurs possess innate, genetic talents.
However, experts generally agree that most entrepreneurs were not born; they
learned to become entrepreneurs.
THANKS FOR WATCHING