ENT/ETR300 FUNDAMENTALS OF ENTREPRENEURSHIP

THEORIES & CONCPET OF ENTREPRENEURSHIP

THEORIES & CONCEPT OF ENTREPRENEURSHIP

ENT/ETR300 FUNDAMENTALS OF ENTREPRENEURSHIP

THEORIES & CONCPET OF ENTREPRENEURSHIP

THE EVOLUTION OF ENTREPRENEURSHIP THEORY Definition of an Entrepreneur : An entrepreneur is a person who undertakes to do a job Richard Cantillon (1755). The term entrepreneur is a French word first coined by Richard Cantillon. In Malaysia the term usahawan is used for entrepreneur.

ENT/ETR300 FUNDAMENTALS OF ENTREPRENEURSHIP

THEORIES & CONCPET OF ENTREPRENEURSHIP

THE EVOLUTION OF ENTREPRENEURSHIP THEORY Definition of Entrepreneurship: Entrepreneurship involves not only the process that leads to the setting up of a business entity but also the expansion and development of an on going concern.The study of entrepreneurship is concerned with the entrepreneurial behavior, the dynamics of business set up and expansion and development.

ENT/ETR300 FUNDAMENTALS OF ENTREPRENEURSHIP

THEORIES & CONCPET OF ENTREPRENEURSHIP

THE EVOLUTION OF ENTREPRENEURSHIP THEORY Adam Smith (1776) - An entrepreneur is a person who acts as agent in transforming demand into supply. Jean Babtiste Say (1803) - An entrepreneur is a person who shifts resources from an area of low productivity to high productivity.

ENT/ETR300 FUNDAMENTALS OF ENTREPRENEURSHIP

THEORIES & CONCPET OF ENTREPRENEURSHIP

THE EVOLUTION OF ENTREPRENEURSHIP THEORY

John Stuart Mill (1848) - An entrepreneur is a prime mover in the private enterprise.The entrepreneur is the fourth factor of production after land ,labor and capital. Carl Menger (1871) - The entrepreneur acts as an economic agent who transforms resources into products and services.The entrepreneur transforms and gives added value.

ENT/ETR300 FUNDAMENTALS OF ENTREPRENEURSHIP

THEORIES & CONCPET OF ENTREPRENEURSHIP

THE EVOLUTION OF ENTREPRENEURSHIP THEORY

Joseph Aloysius Schumpeter (1934) - An entrepreneur is an innovator. The economy moves through leaps and bounds and the prime mover is the entrepreneur through the process of creative destruction. Alfred Marshall (1936) - The process of entrepreneurship or business development is incremental or evolutionary . It evolves from sole proprietorship to a public company.

ENT/ETR300 FUNDAMENTALS OF ENTREPRENEURSHIP

THEORIES & CONCPET OF ENTREPRENEURSHIP

THE EVOLUTION OF ENTREPRENEURSHIP THEORY

Ibnu Khaldun (Abdul Rahman Mohamed Khaldun) - The entrepreneur is seen as a knowledgeable individual and is instrumental in the development of a city-state where enterprise will emerge. David McClelland - The entrepreneur is a person with a high need for achievement. This need for achievement is directly related to the process of entrepreneurship.

ENT/ETR300 FUNDAMENTALS OF ENTREPRENEURSHIP

THEORIES & CONCPET OF ENTREPRENEURSHIP

DEFINITION OF ENTREPRENEURSHIP
It is more than mere creation of business Entrepreneurship is a process of innovation and new venture creation through four major dimensions individual, organizational, environmental and process. The entrepreneurship process is aided by collaborative networks in government, education and institutions.

ENT/ETR300 FUNDAMENTALS OF ENTREPRENEURSHIP

THEORIES & CONCPET OF ENTREPRENEURSHIP

DEFINITION OF ENTREPRENEURS Functional definition of entrepreneurs offers the following definition: Entrepreneurs are individuals who actively form or lead their own business and nurture them for growth and prosperity.