Week 1 2 Lesson 1 Introduction To Entrepreneurship

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Introduction to

Entrepreneurship
Agenda
01 THE CONCEPT OF ENTREPRENEURSHIP
What is Entrepreneurship?

02 ENTREPRENEURIAL COMPETENCIES AND ITS CHARACTERISTICS


Different entrepreneurial competencies and characteristics

03 ENTREPRENEURSHIP AS A CAREER AND SMALL BUSINESSES IDEAS


Taking entrepreneurship as a career and sample small businesses ideas
Entrepreneurship
Entrepreneur?
Entrepreneurship
is described as the process of creating something new whether it is a product
or a service that brings benefit by devoting the time and energy needed to
consider the financial, psychological and social risks, and achieving the
possible incentives for financial and personal satisfaction and freedom.

According to Economists.....
An entrepreneur is willing to bear and take the risk of creating a new venture
if there is a substantial potential for growth and profit.
Businessman VS Entrepreneur

Businessman Entrepreneur
A businessman is an individual who operates or An entrepreneur is an individual with an
starts a business with the same old business Definition
exclusive idea to initiate and establish a new
idea.
Makes his place in the market Market Market Player

Less Risk Factor Risk Factor Approximately High Risk Factor

Profit Focus To make life easier

Extremely High Competition Low


Entrepreneural Competencies and
Characteristics
ENTREPRENEURAL COMPETENCIES

INTEGRITY CONCEPTUAL THINKING RISK TAKING

NETWORKING/COLLABORATION STRATEGIC THINKING COMMERCIAL APTITUDE

DECISIVENESS OPTIMISM CUSTOMER RELATION SERVICE

PEOPLE CENTERED
Entrepreneural Competencies
Integrity- an entrepreneur has a positive sense of values and personal beliefs.
Conceptual Thinking- an entrepreneur is prepared to use new approaches and comes up
with new ideas that may enhance work.
Risk Taking- an entrepreneur understands that risk taking means trying to anticipate
future problems thus solve new problems that may arise in the business organization.
Networking/Collaboration - the entrepreneur understands that networking can provide
access to information, collaboration and profits; and that careful planning and
preparation help achieve desired results.
Strategic Thinking- the entrepreneur understands that thinking using strategies can help
achieve goals in the organization.
Entrepreneural Competencies
Commercial Aptitude- developments in the locality; seeks out best practice; and identifies
and determines opportunities that are not common to others.
Decisiveness- unavoidable situation and responds flexibly to deal with changing priorities set
by the upper authorities.
Optimism- the entrepreneur persists in pursuing goals despite hindrances and problems;
performs in the hope of success rather than fear of failures; and manages difficult
situation.
Customer Relation Service- the entrepreneur develops and builds trust and long-term
relationships with customers; collates an expectation of high level of customer service; and
maintains regularly exceeds customer expectation.
People Centered- they build the total capability of the people involved. They always consider
the principles of inclusiveness in planning and dealing with others.
CHARACTERISTICS OF AN ENTREPRENEUR

AMBITION ENTHUSIASM CREATIVITY

DECISION-MAKING PERSEVERANCE
Entrepreneurship as a Career
essay activity
Prepare 1/2 crosswise yellow paper

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