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TEACHING PLAN
CLASS REPRESENTATIVE
importance of entrepreneurs for economic growth To examine the historical development of entrepreneurship
ENVIRONMENT OF ENTREPRENEURSHIP
Entrepreneurs were the pioneers of todays business
success-sense of opportunity, their drive to innovate and their capacity for accomplishment. Entrepreneurs will continue to be critical contributors to economic growth through their leadership, management, innovation, research and development effectiveness, job creation, competitiveness, productivity and formation of new industry History proved-when economic downturn in late 1990s.
that involved other areas such as economy, psychology and sosiology. Many theories and concept used from different aspects. All in all, it is about adding value to the growth and prosperity/agent to change.
entreprendre = to undertake (the risk of new ventures) Richard Cantillon entrepreneurs invest, transforms and makes profit or loss. (France) (1725) Adam Smith (Scotland) (1776)- individuals who the ability to foresee potential through changes in the economy and to act on the demand thereby created. Carl Menger (Austria) (1871)-individuals who adding value to the entire process of production and distribution.
examining its varying definition, Robert C. Ronstant put together a summary description: Entrepreneurship is the dynamic process of creating incremental wealth. This wealth is created by individuals who assume the major risk in terms of equity, time and/or career commitment of providing value for some product or service. The product or service itself may or may not be new or unique but value must somehow be infused by the entrepreneur by securing and allocating the necessary skills and resources.
entrepreneurship into the twenty-first century, integrated definition is: Entrepreneurship is a dynamic process of vision, change, and creation. It requires an application of energy and passion toward the creation and implementation of new ideas and creative solutions. Essential ingredients include the willingness to take calculated risk-in terms of time, equity or career; the ability to formulate an effective venture team; the creative skill to marshal needed resources; the fundamental skill of building a solid business plan; and finally the vision to recognize opportunity where others see chaos, contradiction and confusion.
ENTREPRENEUR VS ENTREPRENEURSHIP
Entrepreneurship = a process of innovation and new-
venture creation through four major dimensionsindividual, organization, environmental, process- that is aided by collaborative network in government, education and institutions. All of the macro and micro positions of entrepreneurial thought must be considered while recognizing and seizing opportunities that can be converted into marketble ideas capable of competing for implementation ion todays economy.
MICROPRENEURS
Many micropreneurs are small home-based business
INTRAPRENEURS
A person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk taking and innovation
TECHNOPRENEURS
Technopreneur is coined just a couple of years back to
refer to Technology Entrepreneur. This term appears to be most actively used in Singapore, and to some extent also in Malaysia and Thailand. Technopreneurs are the ones who identify the problems and capitalize on the opportunity. A Technopreneur has two major characteristics: 1. He does things NOT out of profits but because he wants to innovate. 2. He is comfortable working with, or using, technology.
CHARACTERISTICS OF ENTREPRENEUR
Likes to compete Self-starter Able to determine risk and has the courage to take risks but is not a gambler Independent and self confident, yet knows when to get help Able to do many things at once Likes a challenge Creative and has dreams and goal Likes to work for him/herself and be in control Hardworking and willing to stick with a project Not easily discourage Good health, has lots of energy and can handle stress Has a strong sense of self-worth Motivated by a strong desire to achieve and attain financial success A positive thinker who does not dwell on setbacks Focuses his/her attention on the chances of success rather than the chances of failure Often has a close friend or relative who owns a business
END OF LECTURE
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