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INTRODUCTION TO ENTREPRENEURSHIP
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Learning Outcomes
At the end of this topic student are given the following competencies: 1. Understanding the concept of entrepreneurship and entrepreneur 2. Identifying characteristics of successful entrepreneurs 3. Comparison between entrepreneur and non-entrepreneur 4. Analyzing oneself as preparation to be entrepreneur.
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Contents
Definition/concept of entrepreneurship and entrepreneur Why become an entrepreneur? Characteristics of successful entrepreneur Advantages/disadvantages of entrepreneurship
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Every year U.S. entrepreneurs launch 550,000 new businesses. Entrepreneurial spirit - the most significant economic development in recent history. GEM study: 18.7% of adult population in the U.S. is actively involved in trying to start a new business.
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Men are twice as likely to start a business as women. Most entrepreneurs turn to family members and friends for capital. Entrepreneurs are most likely to launch businesses when they are between the ages of 25 and 44.
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Entrepreneurship: factors
is the process of creating something new with value by devoting the necessary time and effort, assuming the accompanying financial, psychic, and social risks, and receiving the resulting rewards of monetary and personal satisfaction and independence.
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Who is an Entrepreneur?
Entrepreneurs:
1.
2.
3. 4. 5.
6.
7. 8. 9.
10.
Know how to make a difference Know how to spot and exploit opportunities Know how to find the resources required Who add value Have and maintain a good network Create capital Manage risk and uncertainty Determined in the face of adversity Involves creativity and innovation Involves in enterprising activities
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1-8
Paradigm shifters, innovators and opportunists Key change catalysts and agents Wealth and employment creators Economic engine drivers Key actors of the Malaysian Economy
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How people become entrepreneur ? by design and default. To be own boss Pursue their own ideas Realize financial rewards
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To be own boss
Make a difference
Reach your full potential Reap impressive profits Contribute to society and to be recognized for your efforts Do what you enjoy and to have fun at
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High initiative Can see opportunity Persistence Searching for information Concern for quality of work Efficient High commitment Systematic planner Creative in solving problems Self-Confident Good business strategy
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Advantages of entrepreneurship
Autonomy self control Personnel satisfaction and challenge Wealth creation gain more income
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Disadvantages of entrepreneur
Uncertainty of income Risk - losing your entire investment Long hours and hard work Lower quality of life until the business gets established High levels of stress Complete responsibility
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Contribution of entrepreneurs
Developing new markets Discovering new source of materials Mobilizing capital resources Introducing new technology Creating employment
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Knowledge Driven
Agriculture Era
1960s
1970s
Labour Driven
Labour Driven
Investment Driven
Productivity Driven
Knowledge-based led by Private Enterprises
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are born, not made are gambler are motivated by money should be young and
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Pengasas dan peneraju syarikat penerbangan tambang murah Air Asia. Tony Fernandes yang kini berusia 48 tahun, dilahirkan pada 30 April 1964 kepada suatu keluarga campuran Portugis Goa(India) dan Portugis Melaka. Bapa beliau bernama Dr. Stephen Edward Fernandes dan Ibu beliau, Ena Dorothy Fernandez
Bagi menentukan kejayaan, sikap beliau yang fokus kepada sesuatu projek adalah suatu ciri yang tepat dan dapat membantu mengurangkan risiko. Beliau berkata, Saya bukanlah seseorang yang suka memulakan dua puluh benda dan kemudian berharap tiga akan berjaya. Saya lebih berminat memulakan dua atau tiga dan tentukan ia berjaya, kemudian laksanakan usaha usaha seterusnya.
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Quiz 1
In 15 minute, write down on a paper about characteristics one (1) individual of success persons in Malaysia.
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