INTRODUCTION TO ENTREPRENEURSHIP AND ITS SCOPE.ppt
- 3. A society that has entrepreneurs is considered to be a successful society. This is because entrepreneurs are individuals who are creative, dynamic and innovative. They are willing to take risks and face unpredictable and uncertain challenges by using their creativity and will power. Entrepreneurs would develop and penetrate new business areas in order to stay competitive in the industry. Then, more products or services being offered to the society, which would enhance the society’s economic development.
- 4. The term has been given various definitions by management scholars and practitioners. It is derived from the French word entreprendre which means ‘to undertake or to try’. (Richard Cantillon, 1775). It also refers to a person who undertakes and operates a new enterprise or venture, and assumes accountability for the inherent risks.
- 5. An entrepreneur refers to an individual who establishes a business and manages it to obtain profit and to be successful (Carland). (Kuratko & Hodgetts), an entrepreneur is an individual who organizes, manages, and assumes the risks of a business. An entepreneur is an individual who creates a new business in the face of uncertainty for the purpose of achieving profit and growth by identifying and capitalizing opportunities and assembling the necessary resources to capitalize on the identified opportunities (Zimmerer and Scarborough).
- 6. The dictionary defines an entrepreneur as an individual who manufactures industrial products or conducts a business on a big scale. Webster’s dictionary, an entrepreneur is an individual who manages an economic activity, specifically in sponsoring, owning, managing, and bearing the risks of a business. The Encyclopedia Americana defines an entrepreneur as a businessman who takes risks to combine the factors of production such as capital, labour, and raw materials and accepts the rewards through the profits made by the market value of his products.
- 7. Common definition, “someone who establishes a new entity to offer a new or existing product/service into a new or existing market, whether it is for a profitable or a non- profitable outcome. An entrepreneur is an individual who is able to perceive an opportunity for a business and create an organization to develop and manage that business successfully. He is able to identify and seize the opportunity and bring in the necessary resources such as finance, workforce, and raw materials to develop and market the products or services. He takes proper action that is imaginative, creative, and innovative”.
- 8. Entrepreneurship is the process of seeking businesses opportunities under conditions of risk. “Entrepreneurship also refers to the process of creating something new of value by devoting the necessary time and effort, assuming the accompanying financial, physical, and social risks, and receiving the resulting rewards of monetary, personal satisfaction, and independence”.
- 9. According to Yep Putih, entrepreneurship is the ability, capability, and tendency to perform the following activities: i. Identify business opportunities. ii. Manage a business effort which brings profit to the entrepreneur and the public. iii. Obtain success and richness by fulfilling the society’s needs. iv. Take calculated risks. v. Manage and utilize the factors of production to bring economical development and enhance social welfare. vi. Work hard and be prepared to make new changes that can increase production quantity and quality from time to time.
- 10. An individual’s preparedness to grab opportunities without considering the resources at hand (Stevenson, Roberts and Grousbeck). (Dollinger) defined entrepreneurship as the establishment of an economical firm that is innovative, profit oriented, willing to take risks, and face uncertainties in the environment. As a conclusion, entrepreneurship benefits the entrepreneur, the economy and the society. It is a process that creates and manages a business to achieve the entrepreneur’s desired goals.
- 11. ATTITUDE SKILLS KNOWLEDGE Motivation Decision making Law Confidence Problem solving Management Initiative Negotiation Economics Responsibility Communication Accounting Risk-taker Creativity Values Diligence Team work Business Mental & physical fitness Management Culture Information-seeker Technical Project management
- 12. An entrepreneur is an individual who seeks profitable opportunities and takes the necessary risks to establish and operate a business. A businessman main desire is to grow his business. So… all entrepreneurs are businessmen BUT not all businessmen are entrepreneurs.
- 13. CHARACTERISTICS ENTREPRENEUR BUSINESSMAN Time Unlimited Limited Nature of job Flexible Rigid in adapting to changes Decision making Makes own decision Follows decision made by others Effort and commitment Continuous L ow Risk taker Moderate Low Goal Maximize s self potential by utilizing available opportunities Solely for profit maximization
- 14. i. Customers ii. Society / community iii. Suppliers iv. Staff v. Competitors vi. Nation
- 15. ‘Entrepreneurial competencies’ refers to key characteristics possessed by successful entrepreneurs in performing entrepreneurial function effectively. Entrepreneurial competencies can be observed from the entrepreneur’s attitude, internal life values or his/her insistence to perform with excellence. McClelland and McBer & Co. conducted a research on successful entrepreneurs at Malawi, India, and Ecuador. As a result, they listed 13 entrepreneurial competencies possessed by successful entrepreneur.
- 16. i. Personal initiative ii. Seize opportunities iii. Endurance iv. Information-seeker v. High work quality vi. Commitment towards work agreements
- 17. vii. Efficient viii. Systematic planning ix. Creative problem solving x. Self confidence xi. Assertion xii. Persuasion xiii. Power and authority
- 19. Cerita-cerita individu yang berjaya di Malaysia… TAN SRI MOKHTAR ALBUKHARY Pengerusi & Pengasas YAYASAN ALBUKHARY • Berasal dari Kedah, merupakan anak seorang peniaga lembu. • Orang ke-7 terkaya di Malaysia. • Tidak tamat sekolah menengah kerana desakan hidup. • Menyumbang banyak pendapatannya kepada masyarakat dan kebajikan. • Hidup yang terlalu sederhana, tak suka publisiti. • Kuat prinsip : Kejujuran menjadi asas, tolong- menolong menjadi pegangan. INDIVIDU BERMOTIVASI TINGGI
- 20. Cerita-cerita individu yang berjaya di Malaysia… TAN SRI LIM GOH TONG Presiden Kehormat & Pengasas GENTING BERHAD • Lebih dikenali sebagai Uncle Lim. • Orang ke-4 terkaya di Malaysia. • Merantau dari Fujian, China ke Malaya pada 1937. • Tak berpendidikan, tak tahu membaca dan menulis dan tak fasih berbahasa melayu. • Semua anak mempunyai pendidikan tinggi. • Kuat prinsip : Apa yang kita fikir untuk buat, kena buat sampai berjaya walau apa rintangan yang ada. INDIVIDU BERMOTIVASI TINGGI
- 21. Entrepreneur involve in e-business also known as cyberpreneur. A cyberpreneur is someone who is starting or running a business in cyberspace and the internet. An entrepreneur who has an online based business on the internet targets international consumers. These cyberpreneurs do not need offices or extensive support staff all over the world. They just need a great idea and a cable to connect to the internet.
- 22. How about your answer? Have you done before?
- 23. E-Dagang atau lebih dikenali sebagai istilah dotcom merupakan satu alat / mekanisme yang akan membantu pembekal perkhidmatan/produk mengembangkan pasaran produk/perkhidmatan mereka. E-dagang merupakan satu kaedah transaksi elektronik secara maya melangkaui sempadan jarak dan waktu. Dalam suasana maya, syarikat dapat menubuhkan pejabat secara maya yang dapat dikunjungi oleh pelanggan pada bila-bila masa dan di mana sahaja. Pendekatan perniagaan ini merupakan satu pendekatan yang sangat ideal dan mempunyai potensi dan ruang yang besar untuk terus berkembang. Secara mudahnya ia bermaksud “proses jual / beli secara online.”(Ab. Aziz & Zakaria)
- 24. i. Attracts a large number of customers – customer all over the world. ii. The company can be visited without time restrictions – 24hrs / 7days throughout the year without encountering different time zones. iii. Gives an image of a well-established company – to obtain customers’ confidence when dealing with the company. iv. Minimizes management costs – min the management costs such as phone bill, fax, transportation etc. v. Disseminates business information – help to spread business information to individuals within the company and parties outside the company. vi. Reduces the size of filling – save storage space in filing documents; files can be saved in the form of softcopy and stored in computer systems.
- 25. At the same time, entrepreneurs can enjoy various facilities such as electronic mail, online forums, chat rooms, and information bargains through the library catalogue. Businesses will be able to store, retrieve, create, and display information through the server. By using e-business, companies can send out information to millions of people. By surfing website at any time without having to go out from the building, entrepreneurs can obtain feedback and improve business operations. The cost of communication will reduce.
- 26. Activity : Discuss with your friends the advantages and disadvantages of e-business.
- 27. Antara faedah-faedah perniagaan melalui e-dagang ialah: i. Rakan maya (rakan kongsi & pelanggan)– mempromosi secara laman web, penyenaraian produk/perkhidmatan secara online, sepanduk elektronik dan sebagainya melalui hujung jari anda. ii. Penajaan - ada juga pemilik laman web lain yang ditaja oleh syarikat korporat untuk memasarkan produk/perkhidmatan . iii. Kaedah pembayaran – transkasi biasanya melibatkan pihak ketiga seperti bank, syarikat kewangan, dan pengeluar kad kredit. Memerlukan teknologi pembayaran sebagai contoh Secure Electronik Transaction (SET) oleh master card & visa. Di Malaysia kaedah bayaran maya dibangunkan oleh MIMOS Berhad & Hitechniaga Sdn. Bhd. melalui Jaring’s Mall.
- 28. i. Direct email marketing ii. Online catalogue iii. Public relations
- 29. THANK YOU …