UNIVERSITY OF CAPE COAST

COLLEGE OF HUMANITIES AND LEGAL STUDIES

SCHOOL OF BUSINESS

CENTRE FOR ENTREPRENEURSHIP AND

SMALL ENTERPRISE DEVELOPMENT
 A person who sets up a business or businesses,
taking on financial risks in the hope of profit.

WHO IS AN
Someone who exercises initiative by organising a
ENTREPRENEUR?
venture to take benefit of an opportunity and, as
the decision maker, decides what, how, and how
much of a good or service will be produced.

According to economist Joseph Alois

Schumpeter (1883-1950), entrepreneurs are not
necessarily motivated by profit but regard it as a
standard for measuring achievement or success.
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 Entrepreneurs:
Entrepreneurs • Recognise opportunities where
Challenge the others see chaos or confusion
Unknown • Are aggressive catalysts for change
within the marketplace
• Challenge the unknown and
continuously create the future

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 Opportunist
Classification Entrepreneurs
of
Entrepreneurs All
Entrepreneurs Growth
Oriented

Craft
Entrepreneurs
Income
Oriented

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Entrepreneurs Nascent
can also be
classified as All Novice
Entrepreneurs
Serial

Portfolio

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 Reading Read on Types of Entrepreneurs based
Assignment on Industry

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 • Sequential stages of activities aimed at
setting up a new business activity resulting
The in a ‚new‘ market offer
Entrepreneurial
Process
• It consists of idea generation, opportunity
recognition and evaluation, and
exploitation of the opportunity

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 Opportunity
Key Variables
in the
Entrepreneurial
Process (EP) Entrepreneur

Resources Organisation

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 Functions of the Entrepreneur in the
Entrepreneurial Process (EP)

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 Functions of The
the Opportunity
Entrepreneur
Entrepreneur
in Relation to
Scanning
Opportunity
Identifying
Analysing

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Functions of the The
Organisation
Entrepreneur in Entrepreneur
Relation to the
Organisation Leading
Focusing
Directing

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Functions of the The
Resources
Entrepreneur in Entrepreneur
Relation to
Attracting
Resources
Shaping
Managing

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 Focus Opportunity Fit

The EP:
Focus, Fit &
Configuration Entrepreneur

Resources Organisation

Configuration
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  It is the characteristics of an individual
that cause consistent patterns in that
individual’s behaviour overtime.
Entrepreneurial
Personality It represents the predisposition to have
particular beliefs, attitudes and behaviours.

Personality is sometimes discussed in

terms of traits.

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 Centre for Entrepreneurship & Small Enterprise Development, UCC,
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 Why People
become
Entrepreneurs

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 Locus of
Control
(Internal vs.
External)
The High Need
Psychological Risk Taking
for
Propensity
Approach Achievement

Psychological
Reasons

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 Negative displacement

The
Sociological
Characteristics
Approach Sociological Reasons

Between things
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 Positive pull from
relatives & friends

The Situational Positive

Approach Perceptions of push –
feasibility – Situational
career,
success Reasons
education,
stories etc.
Perceptions of
desirability from
family
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 College of Humanities and Legal Studies
School of Business
University of Cape Coast
Cape Coast
Wednesday, July 26, 2023
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