Chapter 1entrepreneurship Basis and Business

8/17/2019 Chapter 1entrepreneurship Basis and Business

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CHAPTER 1

THE BASIC OFENTREPRENEURSHIP AND

BUSINESS

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Prepared by

En. Hassad bin Hassan


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Entrepreneurship

“…The scientist who cnnot un!erstn!the w" entrepreneurs thin# wi$$ %n! it

e&tre'e$" !i(cu$t to e'p$o" the

)usiness too$s re*uire! toco''erci$i+e his or her techno$o,"-Entrepreneurs re not )oun! )"

.or'u$s/ ru$es/ $iner ptterns o.

thin#in,…0th$een A$$en


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2ernin, O)3ecti4es After studying this chapter you should be ready to

describe:The Basic of Entrepreneurship and It’s RissTypes of Business !rgani"ations Types !f Entrepreneur According To Business Acti#ityTypes !f Entrepreneur According To Business Acti#ity Identifying$ Analy"ing$ E#aluating and %hoosing

Business !pportunity.

E&' (() E*+I*EERI*+E*TREPRE*E&R,HIP

-


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ENTREPRENEURIA2CONCEPT


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THE E/I*ITI!* !/ E*TREPRE*E&RTHE E/I*ITI!* !/ E*TREPRE*E&R

0A2A*’, TER20A2A*’, TER2

French word ‘Entreprende’, “willing to take responsibility or willing to trysomething new”.

5$" wor! 6Ushwn7- “which means effort or 3illingness to do orco4plete a tas.

O&.or! !ictionr"/ “so4eone 3ho is handling a business and taingbusiness ris


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DEFINITION OFENTREPRENEUR

Kirzner (1979) Entrepreneurs are individualswho are alwaysalert about the business opportunities thathave not be seen by others

urt#o n!Ho!,ets 8199:;

Entrepreneur is one who un!ert#es to or,nise/'n,e n! ssu'ethe ris# o. )usiness

D.t 8199


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DEFINITION OFDEFINITION OF

ENTREPRENEURSHIPENTREPRENEURSHIPBarringer(2008)

Entrepreneurship is the proess by whihindividuals pursue opportunities withoutregard to resoures they urrently ontrol

Schu'peter819?@;/ n!

Do$$in,er8199>;

Entrepreneurship s %r' tht opertes n!i'p$e'ents co')intions o. new cti4ities such s

pro!uct !e4e$op'ent/ 'r#et reserch/ sourcin, .orrw 'teri$s/ 'nu.cturin, pproches n! newor,ni+tion$ structures-

Co$e 8199; Entrepreneurship s cti4ities tht resu$t in )ene%tsthrou,h the !e4e$op'ent o. pro%toriente!

)usiness-Ste4enson/Ro)erts n!rous)ec#819=9;

Entrepreneurship s in!i4i!u$ prepre!ness toco'pete .or opportunities without consi!erin, theresources in hn!


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H SOCIET NEEDSENTREPRENEURS

8 To uti$ise pro!uction .ctors such s $n!/ cpit$/techno$o," in pro!ucin, eecti4e pro!uct

8 To i!enti." opportunities .ro' the en4iron'ent )"incresin, the cti4it" tht wi$$ )e )ene%ci$ tothe societ"

8 To se$ect the )est pproch to uti$ise $$ thepro!uction .ctors in or!er to 'ini'ise wste inentrepreneurship cti4ities

8 For the )ene%t o. .uture ,enertions )" pro4i!in, ,oo! p$t.or' such s in.rstructure nen4iron'ent-


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CONTRIBUTION OFENTREPRENEUR

8 De4e$opin, New 5r#et

8 Disco4erin, New Source o. 5teri$

8 5o)i$isin, Cpit$ Resources8 Intro!ucin, New Techno$o,ies/

In!ustries n! Pro!ucts

8 Cretin, E'p$o"'ent



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ENTREPRENEURIA2

PROFI2E


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HAT 5OTIGATES PEOP2E TOBE AN ENTREPRENEURS

8 Be !heir "wn Boss

8 #ursue $inanial %ewards

8 &nvolve &n 'll 'spet o Business8 #restige

8 "pportunity to Build Euity

8 "pportunity to *a+e,ontribution


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DREA5S OFENTREPRENEURS


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!he ,harateristi o an!he ,harateristi o an

EntrepreneurEntrepreneur

Oth ,h i i ,h t i ti


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Other ,harateristi o an,harateristi o an

EntrepreneurEntrepreneur

o ,o--ited to his.her wor+ o 'lways strive or e/elleneo $ous on his.her wor+

o ,ondent to do businesso isiplineo &nnovative and reativeo 'ble to lead and -anage

o %esponsible and trustworthyo 3as a -ission and visiono are to ta+e ris+ and never give up


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Chrcteristic o. Success.u$ EntrepreneursChrcteristic o. Success.u$ Entrepreneurs

8ADDED NO2EDE;8ADDED NO2EDE;


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45,,E44$56E!%E#%EE5

%

#assion or thebusiness

E/eutionintelligent

#rodut.usto-er

ous

!enaitydespiteailure


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ENTREPRENEUR7SPERSONA2IT

8 Se$. Con%!ent

8 i$$in,ness To T#e Ris#

8 A B Person$ities8 Procti4e Person$it"

8 2ocus o. Contro$

8 5chi4e$$inis'


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Co''on 5"ths A)out Entrepreneurs


5"ths 1 Entrepreneurs Are Doers/ Not Thin#ers-5"ths : Entrepreneurs Are Born/ Not 5!e-5"ths ? Entrepreneurs Are A$w"s In4entors-5"ths @ Entrepreneurs Are Ac!e'ic n! Soci$

5is%ts-5"ths > Entrepreneurs 5ust Fit the Pro%$e-5"ths A$$ Entrepreneurs Nee! Is 5one"-5"ths


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Ris#s O. Bein, An Entrepreneur


1- Uncertint" o. Inco'e

:- Ris# o. 2osin, Entire In4est'ent

?- 2on, Hours n! Hr! or#@- Hi,h Stress 2e4e$

>- Di(cu$t" in O)tinin, Custo'ers

- Co'p$ete Responsi)i$it"


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Entrepreneur GS Business'n


Entrepreneur Business'n

Pro%t P$n n! .ocus

.or $on, ter'pro%t

Focus on short

ter' pro%t

Ris# Hi,h $e4e$ 2ow $e4e$

Opportunit" Crete n!

in4ent new

)usiness tren!

Fo$$ow )usiness

tren!


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Kuestions .or 'i! ter' test

Kuestion 1

LSo$n 1M

i- ho is n entrepreneur

LSip#h ushwnM :5r#sL5r#hM

ii- ht !oes ir)" s"s )out entrepreneurs LAp#h "n, !i#t#n o$eh ir)" 'en,eni ushwnM =

5r#sL5r#hM

Kuestion :

LSo$n :M

i- h" !o "ou wnt to )e n entrepreneur i4e FOUR 8@; resons n!p$ese e$)orte "our nswers-

Lenp #'u in,in 'en3!i seorn, ushwn Beri#n E5PAT8@; se))!n huri#n 3wpn n!M 1J5r#sL5r#hM


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Chapter 1entrepreneurship Basis and Business