Beruflich Dokumente
Kultur Dokumente
Introduction To Entrepreneurship
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Learning Outcomes
At the end of this topic student are given the following competencies: U d Understanding the concept of entrepreneurship and di h f hi d entrepreneur Identifying characteristics of successful entrepreneurs Comparison between entrepreneur and nonnon entrepreneur Analyzing oneself as preparation to be entrepreneur. entrepreneur
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Contents
Definition/concept of entrepreneurship and
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businesses.
Entrepreneurial spirit - the most significant economic
adult population i the U.S. is actively involved in trying d l l i in h U S i i l i l di i to start a new business.
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capital. capital Entrepreneurs are most likely to launch businesses when they are between the ages of 25 and 44. 44
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1-5
Entrepreneurship:
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 financial, psychic, risks, receiving the resulting rewards of monetary and personal satisfaction and independence. independence
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Entrepreneurship
A firm that operates and implements combinations of new activities such as product development, market research, sourcing materials, manufacturing and so on ( (Shumpeter, 1934) p 934)
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Who is an Entrepreneur?
Someone who engages in entrepreneurship Who organizes, manages and assumes the risks of a g , g
business or enterprise Individuals who conceive new business opportunities and take on the risks required to convert ideas into reality Someone who actually search for change, respond to it and exploits change as an opportunity
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default.
To be own boss Pursue their own ideas Realize financial rewards
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To be own boss
Contribute to society and to be recognized for your
efforts ff Create your own destiny y y Do what you enjoy and to have fun at Make a difference Reach your full potential Reap impressive profits
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Can see opportunity Concern for quality of work Creative in solving problems Efficient Good business strategy High commitment High initiative g Persistence Searching for information g Self-Confident Systematic planner
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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
Complete responsibility Hi h levels of stress High l l f Long hours and hard work g Lower quality of life until the business gets established Risk - losing your entire investment Uncertainty of income
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Contribution of entrepreneurs
Creating employment Developing new markets Discovering new source of materials Introducing new technology Mobilizing capital resources
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