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ALFRED MARSHALL -the process of entrepreneurship or business development is incremental or evolutionary. JOSEPH SCHUMPETER -introduced concept of creative destruction.

CARL MENGER -the role of entrepreneur in adding value to entire process of production and distribution. 1848

1936

1934

1871
JOHN STUART MILL -reiterated the significance of entrepreneursip in private ent.

1803

JEAN BABTISTE -exhibit certain competencies in creating enterprise

1776

ADAM SMITH -include task of forming organisation for commercial purpose

Ethics
Motivation

Principles

ISLAMIC VIEW ON ENTREPRENEURSIP


Economic System

Ibadah

Position

entrepreneur

Individuals who actively form or lead their own business and nurture them for growth and prosperity.

A process of creating and expanding businesses that collectively form a force for national development and societal prosperity.

entrepreneurship

The development of SMEs has received much attention since the implementation of the New Economy Policy (1971-1990). In Malaysia the SMIs employed 90% of the total labor force in manufacturing sector and contributed to about 26% of total value added in the sector. A survey done found that there were 12,000 SMEs established in Malaysia made up: 88% -small enterprises 12% medium-sized enterprises

The importances of SMEs:


Creating job opportunities.
Plays a crucial role in contributing to the prosperity of big and multinational corporations. Enhance the industry through their creativity and innovation.

Flexibility of change

Organisational structure
CHARACTERISTICS OF A SMALL BUSINESS

ownership
resources

management

THE ROLE OF ENTREPRENEURSHIP IN MALAYSIA


symbol of business steadfastness and achievement represent the working future for many of us due to lays off by large organization and shrinking of job opportunities for graduates. to creation of new venture and small businesses.

ENTREPRENEURIAL BEHAVIOUR& COMPETENCIES


Entrepreneur Motivation Entrepreneur Competencies

ENTREPENEURAL MOTIVATION
The need for achievement (n Ach)
Achievement motive - drive to do well, strive for excellence and overcome challenges and obstacles in the pursuit of goal.

The need for Power (n Pow)


Power motive - drive to control, influence and to have impact on others and change the situations.

The need for affiliation (n Aff)


Affiliation motive - drive to establish, maintain or renew affective relationship with others.

ENTREPRENEURAL COMPETENCIES
1. Initiative 2. Sees and acts on opportunities 3. Persistence 4. Information Seeking 5. Concern for High Quality of Work 6. Commitment to Work Contract