Upload
shamaziq
View
132
Download
0
Tags:
Embed Size (px)
Citation preview
THE EVOLUTION OF ENTREPRENEURSHIP THEORY
Definition of an entrepreneur : Richard Cantillon (1755) From a French word An entrepreneur is a person who
undertakes to do a job
In Malaysia the term usahawan is used for entrepreneur.
POD 3123 Entrepreneurship
2
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.
POD 3123 Entrepreneurship
3
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.POD 3123 Entrepreneurship 4
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.POD 3123 Entrepreneurship 5
THE EVOLUTION OF ENTREPRENEURSHIP THEORYIbnu 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.
POD 3123 Entrepreneurship
6
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.
POD 3123 Entrepreneurship
7
DEFINITION OF ENTREPRENEURSHIP
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.POD 3123 Entrepreneurship 8
THE IMPORTANCE OF ENTREPRENEURSHIP TO MALAYSIAN ECONOMY1.
Entreprenuership is the symbol of business steadfastness and achievement. Entrepreneurial revolution is critical to economic growth. Entrepreneurship may affect our future in many ways: a. Innovative creation of opportunity Example: Portable phones linked to faxes and laptop will turns cars, train, and airport terminal into offices.
POD 3123 Entrepreneurship
9
THE IMPORTANCE OF ENTREPRENEURSHIP TO MALAYSIAN ECONOMYb. Entrepreneurship not only affect our lives through innovation but represent the working future for many of us due to lays off by large organization and shrinking of job opportunities for graduates. c. Entrepreneurship is synonymous to creation of new venture and small businesses. SMIs have been important contributors to local economic growth.
POD 3123 Entrepreneurship
10
THE IMPORTANCE OF ENTREPRENEURSHIP TO MALAYSIAN ECONOMYd. The entrepreneurial SMIs provide services that the large corporation has neglected or lack of economy of scale for the large corporation to serve. e. Contribution of SMIs to Malaysian Economy In Malaysia the SMIs employed 90% of the total labor force in manufacturing sector and contributed to about 26% of total value added in the sector.
POD 3123 Entrepreneurship
11
ISLAMIC ENTREPRENEURSHIP1. Entrepreneurship
is an integral parts of
Islamic religion. 2. By virtue of human nature , the Moslem entrepreneurs are khalifah and have the reponsibilities develop prosperity and sees business as part of ibadah or good deed. 3. Motivation success in Islam is not merely measured by the end result but also the way and means of achieving them. 4. Ibadah business activity is part of ibadah or good deed
POD 3123 Entrepreneurship
12
ISLAMIC ENTREPRENEURSHIPPosition of Entrepreneurship and business in Islam Islam encouraged its ummah to venture into business . Prophet Muhammad S.A.W expounded that 9 out 10 source of rizque (rezeki) can be found in business. 6. Islamic Economic System Islamic Entrepreneurship should operate within the domain of Islamic Economic system and act as the vehicle towards global acceptance of Islamic Economic System.5.POD 3123 Entrepreneurship 13
ISLAMIC ENTREPRENEURSHIP7.
8.
Guiding Principles of Islamic Entrepreneurship is by the al-Quran and al-Hadith Entrepreneurial Ethics based on exemplary conducts of Prophet Muhammad S.A.W
POD 3123 Entrepreneurship
14
ISLAMIC ENTREPRENEURSHIP AS AS INTEGRAL PART OF THE RELIGION
Islam is a complete way of life. There is no separation between business and religion. Islam has its own entrepreneurship culture and guiding principles based on the AlQuran and Hadith to guide business operation .
POD 3123 Entrepreneurship
15
HUMAN NATURE (THE FITRAH OF HUMAN BEING) By
virtue of the human nature, the person must firstly be a Muslim, then an entrepreneur. He has the responsibility to perform ibadah and be a khalifah. Muslim entrepreneur should search for Gods blessings above all other factors. A Muslim entrepreneur perform business not solely for profit, but above all, to fulfill the fardhu kifayah.POD 3123 Entrepreneurship 16
MOTIVATIONMost entrepreneurs have the desire to achieve successful business venture.The successful path and means for achieving success for Muslim entrepreneurs are unique. Success in Islam is not merely measured by the end result, but also the means and ways of achieving themPOD 3123 Entrepreneurship 17
SUCCESS FORMULA BY AL-QURTUBI
Halal Qanaah Taufiq
livelihood that are in accordance to what is being outlined by Allah SWT and syariah.
be pleased and thankful with ones earning
Asking for the blessing of Allah in proportion to ones expectation
Saadah Jannah
Spiritual happiness
Worldly success should act as the bridge to the ultimate success in the life hereafter (paradise).
POD 3123 Entrepreneurship
18
SEVEN STEPS TOWARDS A SUCCESS IN LIFE ACCORDING TO IMAM AL-GHAZALILevel of Knowledge Level of Taubat or repentence Level of Motivation Level of Praise and ThankfulnessPOD 3123 Entrepreneurship 19
Level of Temptation
Level of Obstacles
Level of Handicap
POSSESSION OF WEALTH IS ALLOWED BASED ON THE FOLLOWING PRINCIPLES:Allah s.w.t is the absolute owner of wealth
Allah created wealth in abundance and sufficient for allWealth is created for mankind Wealth is entrusted to mankind
POD 3123 Entrepreneurship
20
ISLAMIC ENTREPRENEURSHIP MODEL
Islam Proposed (Business Venture)
Allah Prepared (Facilities)
Islam Outlined (Rules and Regulation)
Allah Promised (Reward)
POD 3123 Entrepreneurship
21
ISLAMIC ECONOMIC SYSTEM Islamic
Entrepreneurship should be in the framework of Islamic Economic System and should assist in establishing the Islamic Economic System
POD 3123 Entrepreneurship
22
GUIDING PRINCIPLES OF ISLAMIC ENTREPRENEURSHIP Guidelines
Islamic Entrepreneurship business activities are wide and comprehensive based on Al-Quran and Al-Hadith
for and
POD 3123 Entrepreneurship
23
MUSLIM ENTREPRENEURSHIP ETHICSTo prevent laziness
To eradicate fearTo search for legitimate ventures To avoid forbidden sources of income and property To show gratitude and thankfulness of whatever has been acquired To grow and develop capital and profit To diversify business ventures To avoid greediness
POD 3123 Entrepreneurship
24
THE ETHICAL BEHAVIOR OF MUSLIM ENTREPRENEURSHIPTo avoid malicious behavior To pay alms (zakat) To avoid squandering To avoid stinginess To pray consistently
Trustworthy
Tawakkal
Patience
Qanaah
POD 3123 Entrepreneurship
25