Entrepreneurship & the

Entrepreneur
 OBJECTIVES:
Entrepreneurship as a Self-employment Decision
The concept of Entrepreneurship
The Entrepreneur: The Individual that Steers
The Advantage of Becoming an Entrepreneur
 Business Failure Rate
27.6%

Under 1
1-2
2-3
3-4
4-5
13.8%
12.9% 5-10
11.2% 10-20
10.1% Over 20
9.3%
8.7%
6.4%

Failure Rate (% )
Causes of Business Failure
3%
Causes of Business Failure
1%
Neglect
4%
9%
Fraud

17%
Lack of Technical Expertise
45%
Lack of Management Expertise

21% Lack of Experience

Incompetence

Disaster & other reasons

 “entreprende”
Started in France after the French Revolution. Entrepreneur word was coined by Jean
Baptiste Say (1803)
It originated from the French word ‘entreprende’ which means ‘to undertake’.
 One who organizes, manages and assumes the
risk of business or enterprise.

Consists in doing things that are not

generally done in the ordinary course of
business routine.
Who is the Entrepreneur
1. Entrepreneurs Take and Accept risks
2. Entrepreneurs own ventures
Who is the Entrepreneur
3. Entrepreneurs are Managers
 Creator vs custodian
 Takes risk vs stability
 Personally responsible vs merely responsible
 Achieve vs attain targets
 Future oriented vs now-oriented
 Thrive on chaos vs thrive on structure
 Who is the Entrepreneur
4. Entrepreneurs Establish New & Develop
Existing Ones
5. Entrepreneurs Identify Opportunities in the
Market
 Who is the Entrepreneur
6. Entrepreneurs Apply Their Expertise
7. Entrepreneurs Process Market Information
8. Entrepreneurs Bring Innovation
Who is the Entrepreneur
9. Entrepreneurs Provide Market Efficiency
10. Entrepreneurs Maximize Investment Returns
11. Entrepreneurs Provide Leadership