Welcome

Introduction to 21st Century

Entrepreneurship

BY: Behaylu W.
 Module Objectives

• Clarified and illustrated the basic concept of

entrepreneurship, entrepreneur, entrepreneurial
activities, and entrepreneur.
• Differentiated who is an entrepreneur and who is
not.
• Develop entrepreneurial competency.
• Develop entrepreneurial mindset.
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 MODULE outline

01 Understanding of Entrepreneurship concept

02 who is an entrepreneur? Who is not an entrepreneur?

03 Qualities of an Entrepreneur

04 Entrepreneurship, creativity and innovation

M2-P3
REACTIONS TO THIS WORKSHOP

The mystic

The tourist

The true believer

M2-P4
 The Nature of Entrepreneurship

 The term entrepreneur comes from French term

„entreprendre ‟ , meaning “ to undertake"

 or from words "Entre" = "between" + "prendre"

=―taker".

 The verb is ―entreprendre‖ or to undertake.

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 The process of entrepreneurship includes five critical
elements. These are:
 The ability to perceive an opportunity
 commercialize the perceived opportunity i.e. innovation

 The ability to pursue it on a sustainable basis.

 The ability to pursue it through systematic means.
 The acceptance of risk or failure.

M2-P6
 Conceptual Model of Entrepreneurship
The person
Personality, skill, experience,
motives, and psychological
preferences

The organization Entrepreneurship The task

Structure, rules, policies, Perceiving opportunity,
culture, human resource marshalling resources,
system, communication providing leadership

The environment
Availability of resource, infrastructure,
competitive pressures, social values, rules and
M2-P8 regulations, technology
 Entrepreneurship VS Entrepreneur
What is entrepreneurship? And who is an
entrepreneur?
Related concepts:
oEntrepreneur: a person who undertakes a
certain project
oEntrepreneurship: how the entrepreneur
does what S/he wants
oEntrepreneurial process: means through
which new value is created as a result of a
project

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 Entrepreneur Vs Entrepreneurship
Entrepreneur Entrepreneurship
Refers to person: Refers to process:
Visualizer Vision
Creator Creation
Organizer Organization
Innovator Innovation
Technician Technology
Initiator Initiative
Decision maker Decision
Planner Planning
Leader Leadership
Motivator Motivation
Programmer Action
Risk taker(bearer) Risk taking(bearing)
Communicator Communication
Administrator Administration
 Discussion

Who is an Entrepreneur?
Why?

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 An entrepreneur is an individual who:

Sets goals for

Has the ability to him/herself and others.
identify and pursue a An entrepreneur is
business opportunity. a job-creator not a job-
Undertakes a seeker.
business venture.
Raises the capital
to finance it

An entrepreneur is a
person who:
Gathers the
Has a dream.
necessary physical,
Has a vision.
financial and human
Is willing to take the
resources needed to
risk
operate the business
Makes something
venture.
out of nothing
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 WHO IS NOT AN ENTREPRENEUR?

DAY -2

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 Not All Business Owners Are Entrepreneurs Today's
entrepreneur has become almost synonymous with
'business owner, but the reality can be different. Small
Business Owners proclaim themselves to be entrepreneurs.

 This self-indoctrination into the glorious bubble of

entrepreneurship can be both pretentious and gratifying.
There’s an inherent sense of nobility using the word. 

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 BASIS FOR
BUSINESSMAN ENTREPRENEUR
COMPARISON
Meaning A businessman is someone who An entrepreneur is a person
sets up a business with an who starts an enterprise with a
existing idea offering products new idea or concept,
and services to the customers. undertaking commercial
activities.
Market Position Market Player Market Leader
Nature Calculative Intuitive
Market Creates place in existing Creates new market
markets
Risk factor Less Comparatively high
Methods applied for doing Conventional Unconventional
things
Approach Holistic Atomistic
Orientation Profit People
Competition Very high Low
Knowledge, wealthy, and Skill
 How Intelligence Relates to Wealth

Does intelligence equal wealth?

Not necessarily.
If you define intelligence as the ability to apply knowledge
and skills, then intelligence can certainly help someone to
accumulate wealth. However, there are many hardworking
people who have studied hard and applied themselves only
to find that their pay is average, and there is no
advancement in sight.
 Applying Knowledge or Practicality
Applicable intelligence, however, is still a force in the labor
marketplace. Google creators Sergey Brin and Larry Page are
adept programmers with strong credentials in mathematics and
computer science. 
7 Essential Skills to became wealth
 1) Adopt the Million-Dollar Mindset
First, learn and adopt the mindset of a millionaire. Millionaires think
very differently and that is why they take different actions and produce
vastly different results. Self-made millionaires have a different set of
beliefs and habits that allow them to see opportunities where others see
problems.
 2) Set Clear Financial Goals

Wealth never happens by chance. It always begins with a clear goal

in mind. At one point of time in their life, millionaires always make a
decision to become rich. However, whenever I ask most people what
their financial goals are, I often get a blank stare.
When I ask people to write down their target income or how much
they want to be worth, the standard answer I get is ‘as much as I can
get’. 
 3) Create A Financial Plan
Once you have set specific financial targets of how much you
want to earn and how much money you want to accumulate, you
must develop an effective plan to achieve it. Goals by themselves
are nothing but pipe dreams. Only when you create a plan, have
you made your goal a possibility. The moment you start taking
action on your plan, your dream becomes a reality.
4) Massively Increase Your Income

After developing your financial plan,

you may tend to become initially
disheartened. You look at your plan
and realize that with the amount you
are earning and saving right now, it
will be decades before you see any big
money.
 5) Manage Your Money & Reduce Expenses
Many people think that by increasing their income, their wealth will
automatically increase. Unfortunately, increasing income is only one
side of the wealth equation.
The reason is simple: When we don’t manage the money we earn, our
expenses will always rise to our level of income, wiping out any
surplus we have!
6) Grow Your Money at Millionaire Returns
By increasing your income and reducing
your expenses, you will find that you will
be able to accumulate a surplus of funds
that you can use to help you build your
fortune. You need to do this because, no
matter how hard you work and save, you
will never be able to create phenomenal
wealth unless you learn how to put your
money to work for you. 
 7. Build A Financial Fortress
There is no use working hard to build your personal fortune only to
see it all taken away from you. There are many people who have
taken decades to build their fortune only to see it wiped out by an
accident, unforeseen illness or through an unexpected lawsuit.
Problem Solving ( Idea Impact)
Having good, strong problem solving skills can make a huge
difference to your career.
Problems are at the center of what many people do at work
every day.

A fundamental part of every entrepreneur role is finding ways to

solve them. So, being a confident problem solver is really
important to your success. Much of that confidence comes from
having a good process to use when approaching a problem.
There are four basic steps in solving a problem:

•Defining the problem.

•Generating alternatives.
•Evaluating and selecting alternatives.
•Implementing solutions.
21st Century Skills
21st Century Skills
21st Century skills are 12 abilities that today’s
entrepreneurs need to succeed in their careers during
the Information Age.

Each 21st Century skill is broken into one of three

categories:
Learning skills
Literacy skills
Life skills
 Category 1. Learning Skills (The Four C’s)

Critical thinking: Finding solutions to problems

Creativity: Thinking outside the box
Collaboration: Working with others
Communication: Talking to others
 Category 2. Literacy Skills

Information literacy: Understanding facts, figures,

statistics, and data
Media literacy: Understanding the methods and outlets in
which information is published
Technology literacy: Understanding the machines that
make the Information Age possible
 Category 3. Life Skills

Flexibility: Deviating from plans as needed

Leadership: Motivating a team to accomplish a goal
Initiative: Starting projects, strategies, and plans on one’s own
Productivity: Maintaining efficiency in an age of distractions
Social skills: Meeting and networking with others for mutual
benefit
Knowledge
Innovation
Communities
and the blue
economy
DAY 3
 Delivering a knowledge-based sustainable blue economy

What is the Blue Economy?

The concept or new paradigm of the Blue Economy emerged
in the context of the Rio+20 Conference on Sustainable
Development and the Green Economy. At that time it could
be seen as a branch of the Green Economy. 

The Blue Economy comprises the same principles and goals

as the Green Economy. However, the concept has evolved
from a “blue aspect of a green economy” to a paradigm in its
own right.
The concept of the Blue Economy rests on the following themes: 
Sustainable and inclusive growth and development
Reducing the risk of over exploitation and risky methods of
extraction/usage of the ocean’s resources.

Enhancing the welfare of coastline communities in terms of

economic opportunities and social protection
Ensuring resilience of countries to natural disasters and the
impact of climate change.
The Hidden DNA of Amazon, Apple, Face book, and Google
Amazon, Apple, Facebook, and Google are the four most
influential companies on the planet. Just about everyone
thinks they know how they got there. Just about everyone
is wrong.

For all that's been written about the Four over the last two
decades, no one has captured their power and staggering
success as insightfully as Scott Galloway.
Instead of buying the myths these compa-nies broadcast, Galloway
asks fundamental questions. How did the Four infiltrate our lives so
completely that they're almost impossible to avoid (or boycott)? Why
does the stock market forgive them for sins that would destroy other
firms? And as they race to become the world's first trillion-dollar
company, can anyone chal-lenge them?

Whether you want to compete with them, do business with them, or

simply live in the world they dominate, you need to understand the
Four.
 SOMETIMES LATER
BECAME NEVER.
SO IF U WANT TO CHANGE
YOUR LIFE DO IT NOW.