Objectives:

 explain the key concepts of common

competencies

Explain the core competencies in

entrepreneurship
 Define the following:

 is a unique individual who has

Is a proactive process the ability and extraordinary
of developing a business dedication to establish and
venture to make a manage a business,
profit. acknowledging all the risks
and reaping its reward.
 Societal and economic benefits of
entrepreneurship
1. Entrepreneurship produces more jobs and
equate to an increase in national income.
2. Entrepreneurship amplifies economic activities
of different sectors of society.
3. Entrepreneurship introduces new and
innovative products and services.
4. Entrepreneurship improves people living
standards.
5. Entrepreneurship disperses the economic power
and crates equality.
6. Entrepreneurship controls the local wealth and
balances regional development.
7. Entrepreneurship reduces social conflicts and
political unrest.
8. Entrepreneurship elicits economic
independence and capital formation.
 Concept of Entrepreneurship
The word entrepreneur was derived from the
French enterprendre, which means “to
undertake”
This refers to those who undertake the risk
of new enterprise.
An enterprise is created by an entrepreneur
and the process is called entrepreneurship.
Five levels of entrepreneurial
development
1. The self-employed
2. The manager
3. The leader
4. The investor
5. The true entrepreneur
 New terms are coined to suit an
entrepreneur

1. Technopreneur
2. Social entrepreneur
3. An intrapreneuer
4. An extrapreneur
Common traits of entrepreneur
1. Proactive
2. Agents of change
3. Risk takers
4. Have a sharp eye for opportunities
5. Sociable
6. Networkers
7. Decisive
8. Balanced
9. Innovative
 Core traits that entrepreneurs
should develop in managing and
running the business
1. Leaders
2. Communicators
3. Specialists
4. Problem solvers
Activity: find out if you are the sort of person that
could set up and operate a business. Check YES if the
statement applies to you and check NO if it doesn’t.

1. I think that routine pattern of life with regular working hours

suits me best.
2. I have always thought and acted by myself.
3. Sometimes I think I seem to achieve nothing.
4. It is not good to start something unless you are going to
finish it.
5. I am much happier when I do not have to rely on the people.
6. I often feel that I am the victim of events that I cannot
control.
7. In any bad situation I always get something good from it.
8. It is very important to me that people recognize my success.
9. I am not too ambitious so that I can avoid being disappointed.
10. I am prepared to take risks only after I have thought about all
of the possible consequences.
11. When I talk to senior person I do not say what I mean.
12. People often tell me that I am good at understanding their
point of view.
13. The amount of money that I earn is more important than how
hard I work to earn it.
14. I usually work later than plan.