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ENTREPRENEURSHIP

An Introduction
DEFINITION
Entrepreneur - (old French) means The
undertaker
Undertake what? Risk of starting a
venture
Entrepreneurship means to undertake, to
attempt, to try in hand, to contract for, or to
adventure
DEFINITION AND CONCEPT
Entrepreneurship no clear definition.
General term describes all sorts of
behaviors that involve being creative,
mischievous, sneaky, breaking rules, and
not wanting to follow rules
In American culture entrepreneurship
has become a trendy term that can mean
almost everything anyone one it to, in
many context
DEFINITION AND THEORIES
Entrepreneurs are individuals who actively
form or lead their own businesses and
nurture them for growth and prosperity
Entrepreneurship is a process of creating
and expanding businesses that collectively
form a force for national development and
societal prosperity
Entrepreneurship encompasses some
management functions
THEORY AND CONCEPT
Entrepreneurship is about exploiting
entrepreneurial opportunity
The uniqueness of the entrepreneur is the ability
to see and seek opportunity and the courage to
take risks in transforming the opportunity into a
successful venture
Entrepreneurs see opportunities in problems
and seized them
Entrepreneurs not gamblers who leave much to
chance; entrepreneurs calculate their chances
ENTREPRENEURSHIP
Entrepreneurship is the state of being an
entrepreneur
Entrepreneur is an individual who owns,
organizes, and manages a business, and
assume the risk of either making a profit or
loosing the investment
Key success for entrepreneurial
organization are planning for marketing,
management and financial
INTRAPRENEURSHIP
Innovative corporate management style that
encourages employees within an organization to
create new product ideas
If employee ideas are approved, management
will finance R&D of the product while sharing an
equitable partnership arrangement with the
employee
Business within business
Often associate with larger companies
INTRAPRENEURSHIP
The single most important factor in
establishing intrapreneur-friendly
organization is making sure that
employees are placed in an innovative
working environment
Incubators are one innovative example of
this trend
INTRAPRENEURSHIP
A Summary:
Intrepreneurship refers to employee initiatives in
organizations to undertake something new,
without being asked to do so. This intrapreneur
focuses on innovation and creativity and who
transform a dream or idea into a profitable
venture, by operating within the organizational
environment. Thus, Intrapreneurs are inside
entrepreneurs who follow the goal of the
organization
TECHNOPRENEURSHIP
Exploiting technology to discover future
business
Business anchored in technology
The development of technopreneurs as a
key element in enhancing the contributing
of ICT
Technopreneur Flagship Application in line
with MSC.
Involve in ICT, biotechnology, life sciences
ENTREPRENEURIAL VALUES AND
CHARACTERISTICS
Authors Values & Characteristics
Mayers and
Goldstein



Timmons,
Smollen and
Dingee
Rationality and objectivity, realistic
expectation and ability to plan carefully,
managerial competence, suitable
personality, emotional stability

Drive and energy, self-confidence, long-
term involvement, money as a measure,
persistent problem solving, goal setting,
moderate risk-taking, dealing with
failure, use of feedback, taking initiative
and seeking personal responsibility, use
of resources, tolerance
ENTREPRENEURIAL VALUES AND
CHARACTERISTICS
Authors Values & Characteristics




Welsh and White
Role requirements: creativity and
innovation, people and team building,
economic values, integrity and reliability

Good health, basic need to control and
direct, self-confidence, never ending
sense of urgency, awareness, realistic,
low need for status, interpersonal
relationship, emotional stability,
attraction to challenges not risk
IDENTIFYING, EVALUATING AND SELECTING
A BUSINESS OPPORTUNITY
Four major steps:
Step I: Identifying needs and wants of
customers
Step II: Scanning the environment and
evaluating of self and the community
Step III: Screening of business opportunity
Step IV: Selecting business opportunity and
preparing a business plan

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