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    ENT300 Intro

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    Hasdan
    This document provides an introduction to entrepreneurship, covering key topics such as: 1. Theories and concepts of entrepreneurship including the entrepreneurship process involving individual, organizational, environmental, and process dimensions. 2. Motivations for entrepreneurship drawn from McClelland's theory including needs for achievement, power, and affiliation. 3. Characteristics and competencies of successful entrepreneurs such as initiative, creativity, problem-solving abilities. 4. Components of creativity and innovation, including creative thinking skills, knowledge, and motivation. Identification of opportunities involves observing changes in the environment and recognizing unsatisfied needs.

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    ENT300 Intro

    Uploaded by

    Hasdan
    211 views17 pages
    This document provides an introduction to entrepreneurship, covering key topics such as: 1. Theories and concepts of entrepreneurship including the entrepreneurship process involving individual, organizational, environmental, and process dimensions. 2. Motivations for entrepreneurship drawn from McClelland's theory including needs for achievement, power, and affiliation. 3. Characteristics and competencies of successful entrepreneurs such as initiative, creativity, problem-solving abilities. 4. Components of creativity and innovation, including creative thinking skills, knowledge, and motivation. Identification of opportunities involves observing changes in the environment and recognizing unsatisfied needs.

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    ENT300 Intro

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    This document provides an introduction to entrepreneurship, covering key topics such as: 1. Theories and concepts of entrepreneurship including the entrepreneurship process involving individual, organizational, environmental, and process dimensions. 2. Motivations for entrepreneurship drawn from McClelland's theory including needs for achievement, power, and affiliation. 3. Characteristics and competencies of successful entrepreneurs such as initiative, creativity, problem-solving abilities. 4. Components of creativity and innovation, including creative thinking skills, knowledge, and motivation. Identification of opportunities involves observing changes in the environment and recognizing unsatisfied needs.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    211 views17 pages

    ENT300 Intro

    Uploaded by

    Hasdan
    This document provides an introduction to entrepreneurship, covering key topics such as: 1. Theories and concepts of entrepreneurship including the entrepreneurship process involving individual, organizational, environmental, and process dimensions. 2. Motivations for entrepreneurship drawn from McClelland's theory including needs for achievement, power, and affiliation. 3. Characteristics and competencies of successful entrepreneurs such as initiative, creativity, problem-solving abilities. 4. Components of creativity and innovation, including creative thinking skills, knowledge, and motivation. Identification of opportunities involves observing changes in the environment and recognizing unsatisfied needs.

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    You are on page 1of 17

    INTRODUCTION TO

    ENTREPRENEURSHIP
    An overview
    Learning Outcomes

    1. Theories and Concepts of Entrepreneurship


    2. Entrepreneurial behaviour & competencies
    3. Creativity & Innovation
    4. Identification, evaluation and selection of opportunities
    Definition
    • Entrepreneurship is a process of innovation and
    new venture creation through four major
    dimensions – individual, organizational,
    environmental and process.
    • The entrepreneurship process is aided by
    collaborative networks in government, education
    and institutions.
    Importance of Entrepreneurship
    • Self development
    – Opportunity to control direction in life,
    maximize self-potential, unlimited financial
    rewards
    • Family development
    – Increases family income, raises living
    standards, improves social status
    Importance of Entrepreneurship (2)
    • Society Development
    – Improves standard of living/lifestyle of society
    – Opportunity to contribute to society
    – Fulfils society’s needs and wants
    – Creates choices thru innovative and creative
    products
    Importance of Entrepreneurship (3)
    • National Development
    – Essential for economic development of country
    – Creates jobs
    – Generated income to county
    – Catalyst to national development
    Entrepreneurial Motivation
    • Entrepreneurial motivation is viewed as the
    willingness of entrepreneurs to sustain his/her
    entrepreneurial behaviour
    • What makes people responsive to opportunity?
    • What drives them to entrepreneurship?
    Entrepreneurial Motivation (2)
    • David McClelland’s Acquired Needs Theory
    – Need for Achievement
    • Individual with high need for achievement is found in most
    successful business founder
    – Need for Power
    • Individual with high need for power normally seeks position of
    leadership
    – Need for Affiliation
    • Entrepreneurs are usually low on affiliation because they are
    expected to be innovative, trendsetters and tradition
    breakers.
    Common characteristics of Entrepreneur

    Persistence
    Self-
    Independent and Creative
    confidence
    determination

    Organized Goal Oriented Visionary Risk taker

    Tolerance for Integrity and Seeks Internal locus


    failure Reliability feedback of control
    Competencies of Successful Entrepreneur
    • Competencies are referred to as the knowledge,
    skills and attitude necessary to perform a job
    Sees and acts Concern for
    Efficiency
    Initiative on high quality of
    orientation
    opportunities work

    Systematic Problem- High work


    Persuasive
    planning solving quality

    Commitment Use of
    towards work influence
    agreements strategies
    Creativity and Innovation
    • Creativity
    – Ability to use imagination to develop new ideas,
    things and solutions
    – Process of generating unique and useful ideas
    • Innovation
    – Taking the new idea and turning it into
    something valuable.
    Components of Creativity

    Knowledge
    - Intuitive Motivation
    Creative thinking skills - Imaginative - Intrinsic
    -Inspirational -Extrinsic
    -Innovation
    Blocks to Creativity
    • Perceptual blocks
    • Emotional blocks
    • Cultural blocks
    • Environmental blocks
    • Intellectual blocks
    Types of Innovation
    • Technological
    • Operational
    • Organizational
    Business Ideas and Opportunities Identification
    • Opportunity
    – Situation that enables an entrepreneur to offer
    marketable products or services to interested
    buyers
    • Types of Situation
    – Product not in existence
    – Product already in market but failed to satisfy
    the customers
    Opportunity Identification

    Observe Recognize
    changes in the needs Find ways to Discovery of
    the that is not solve Opportunity
    environment satisfied
    END OF CHAPTER 1

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