the introduction to Entreprenuership.pptx
- 1. THE CORE OF QUALITY HEALTH CARE EDUCATION 1 Presented by: Mr. Z. Njoroge THE CORE OF HEALTHCARE EDUCATION Entrepreneurship
- 2. 2 Course Outcomes Demonstrate knowledge and understanding of the nature of entrepreneurship and innovation. Understand the legal & ethical issues in the development of successful enterprises. Identify and pursue a business/entrepreneurial opportunity - Conduct market research - Develop and sustain effective business networks Use technology to enhance business visibility for growth and sustainability. Apply innovation and entrepreneurial mindset to create a viable/bankable business plan. Demonstrate effective presentation skills to pitch a business idea
- 3. 3 Assessment Weighting Scheduled Date Assignment 1 25% TBA Assignment 2 25% TBA Business Proposal/Project 50% TBA The assessment of the course comprises of continuous assessment which makes 50% of the final grade and Business Proposal mark which makes 50% of the final mark. Assessment
- 4. Objectives • Definitions of entrepreneurship • History of entrepreneurship • Attributes, Mindsets & Characteristics of an entrepreneurs • Benefits of entrepreneurship • Contribution of entrepreneurship to the economy • Myths of entrepreneurship • Entrepreneurship as a career Understanding Entrepreneurship
- 5. Amongst World Top 30 Entrepreneurs
- 6. Steve Jobs (Apple) Bill Gates (Microsoft) Larry Page (Google) Mark Zuckerberg Sir Richard Branson (Virgin)
- 7. History of Entrepreneurship • The entrepreneur is one who undertakes to organize, manage, and assume the risks of a business. • Although no single definition of entrepreneur exists and no one profile can represent today’s entrepreneur, research is providing an increasingly sharper focus on the subject. • Derived from a French word 'Entreprendre' which means 'to undertake', 'to pursue opportunities', or 'to fulfill needs and wants through innovation and starring businesses’. • The word first appeared in the French dictionary in 1723.
- 8. History of Entrepreneurship • In 1985, Peter Ferdinand Drucker, the late management expert, defined entrepreneurship as “the act that endows resources with a new capacity to create wealth,” among the most specific and meaningful definitions of the term. • More literally, the words “entrepreneurship” and “enterprise” both derive from the Old French word for “an undertaking,”entrependre.
- 9. History of Entrepreneurship • Yet even in French, the related word entrepreneur did not take on its current meaning until the economist Jean-Baptiste Say so imbued it in 1800. • In the English language, until the mid-nineteenth century, when the French term entrepreneur began to enjoy common usage outside France
- 10. 10 Entrepreneurship essentials – concepts and practice Entrepreneur according to Peter F Drucker “ one who always searches for change, responds to it and exploits it as an opportunity”. The entrepreneurship process. • Idea Business Plan Resourcing Managing Company Outcome/ Harvesting Innovation: Peter F Drucker defines it as “the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or service.
- 11. Definitions • Entrepreneurship is the process of creating or seizing an opportunity and pursuing it regardless of the resources currently controlled. Entrepreneurship involves the definition, creation and distribution of value and benefits to individuals, groups, organisations and society. - Timmons, • An entrepreneur • someone who creates and runs a business. • Entrepreneurship – It is a philosophy or process through which an entrepreneur seeks innovation and employment.
- 12. Definitions Entrepreneurship is the process of creating something different with value by devoting the necessary time and effort, assuming the accompanying financial, psychic, social risks and receiving the resulting rewards of monetary and personal satisfaction and independence. (a) The creation process (b) Devotion of time and efforts (c) Assumption of risks (d) Rewards of independence, satisfaction, money. Entrepreneurship Definition involves four aspects –
- 13. 13 Entrepreneurial Imagination and Creativity How entrepreneurs do what they do: • Creative thinking + systematic analysis = success • Seek out unique opportunities to fill needs and wants • Turn problems into opportunities • Recognize that problems are to solutions what demand is to supply
- 14. Dr Tiro S Mampane President & Founder (Boitekanelo College) Who is this great Entrepreneur?
- 15. Jeff Bezos
- 16. Bill Gates
- 17. Mark Zuckerberg
- 18. Steve Jobs
- 19. Richard Branson
- 20. Ritesh Agarwal
- 21. Mukesh Amabani
- 22. List Local Entrepreneurs You Know? And Their Quality, Industry & Success Story
- 23. List Of Entrepreneurs 23 Name Industry Quality Mr Seabelo Transport & Logistics Patient, innovative, perseverance Mr Sayed Jamali Property and Construction Curious, Experimental, perseverance Mr Derek Brink Land and Property Risk Taker, innovative, patient Ms Gampone Petroleum Courage, creativity, flexible
- 24. What Are Influencers & Their Role? Are Influencers Entrepreneurs?
- 25. • Entrepreneurs are people who organize, manage, and take on the risks of a business. • They often start a new business in response to a need for a product or service. • An influencer, on the other hand, is someone who has the power to affect or change people and their behavior through social media. • Influencers who start their own business are definitely entrepreneurs, since they manage their business, but are they fulfilling a need? Many say yes. • Companies can target specific groups of people through employing an influencer. • These groups might be missed by traditional advertising. • And because influencers form a more personal relationship with their followers, the followers seem more likely to buy what the influencer suggests. https://www.nationalgeographic.org/article/influencers-modern-entrepreneur/7th-grade/ The Core of Quality Health Care Education 25 Are Influencers Entrepreneurs?
- 26. What Do You Do Everyday?
- 27. Attributes Characteristics Self Assessment With the right mindset • Have ideas • Thinkers • Perseverance • Risk takers • Innovative • Courage • Creativity • Curiosity • Determination • Discipline • Empathy • Enthusiasm • Flexibility • Honesty • Patience Attributes & Characteristics Of An Entrepreneur • Right mindset? • Right aptitude? • Right attitude ? Strengths & Weaknesses
- 28. Self Assessment Exercise • Evaluating your strengths and weaknesses in the bid to learn more about yourself - What are your strengths and weaknesses - Do have the Right • mindset? • aptitude? • attitude ? NB: This is an important part of becoming an entrepreneur
- 29. Myths About Entrepreneurship • #1: Entrepreneurs don’t have a personal life • #2: Entrepreneurs take lots of risks • #3: Entrepreneurs are only motivated by money • #4: Entrepreneurs raise money from venture capitalists • #5: Entrepreneurs have great ideas Myth: a widely held but false belief or idea.
- 30. Myths About Entrepreneurship #6: Anyone can be an Entrepreneur #7: Entrepreneurs have formal training and education #8: Entrepreneurs are young #9: Entrepreneurs don’t quit until they succeed #10: Entrepreneurship is genetic
- 31. • Personal satisfaction – Freedom to make your own business decisions and then act on them. • Making Your Own Rules. – When you own a business, you get to be your own boss. • Doing Work You Enjoy. – Since the majority of most peoples’ lives is spent working, why not spend that time doing something you enjoy? • Creating Greater Wealth. – There’s no limit to what an entrepreneur can make. • Helping Your Community. – Being an entrepreneur lets you make your community and world a better place Benefits of Entrepreneurship
- 32. Contribution Of Entrepreneurship To The Economy 1.Wealth Creation and Sharing 2.Create Jobs 3.Balanced Regional Development 4. GDP and Per Capita Income 5.Standard of Living 6.Exports 7.Community Development
- 33. • Entrepreneurs are happier and healthier than employed people. • According to Forbes, people who are managing their own businesses are happier than those who are employed. • There is more work-life balance and in a way, using your creativity to build something is taking the stress of working for a living. Entrepreneurship As A Career
- 34. • Being Your own Boss • Self management is the motivation that drives most entrepreneurs • Financial Success • Entrepreneurs are wealth creators idea generators • Job Security • Over the past 10 years large companies have eliminated more jobs than they have created • Quality of Life • Starting a business gives the founder some form of choice on how, when and where to do work Entrepreneurship As A Career
- 35. 35 Factors Favouring Entrepreneurship a) Developed Infrastructure Facilities b) Financial Assistance c) Protective and Promotional Policies d) Growth of Education e) Risk Taking Abilities f) Hunger for Success (Capitalistic View) g) Environment/Culture Impact h) Social Security i) Technical/Industrial Training Facilities j) Globalization Summary
- 36. 36 Factors Favouring Entrepreneurship a) Developed Infrastructure Facilities – Availability of infrastructure reduces the cost & efforts and improves viability of projects through higher profit margins. b) Financial Assistance – Easy availability of cheap funds is vital for promoting entrepreneurship. c) Protective and Promotional Policies – Most of the entrepreneurship projects start very small and have no resilience. They are extremely vulnerable to competitors, market, money markets, etc, for considerable time. Favourable Govt policies shelter them from such vagaries. d) Growth of Education – Growth of education is believed to be promoting entrepreneurship. However, there are enough examples to suggest otherwise. A very large proportion of first generation entrepreneurs are low educated. Take the case of Microsoft Chairman Mr Bill Gates
- 37. 37 e. Risk Taking Abilities – Risk taking ability is one of the pillars of entreprene f) Hunger for Success (Capitalistic View) – Fire in the belly and dreams of riches is what drives most entrepreneurs on this risky path. Any person content with what he has would take the easier route of salaries job. g) Environment/Culture Impact – Entrepreneurship is contagious. There are Communities which are historically entrepreneurial. They are known for seeking and exploiting business opportunities in most remote areas. It is a culture that propels them. (Go to Pull_Factors ) h) Social Security – Social security acts as a safety net against failure of enterprise. Social security guarantees basic ‘survival’ in case of failure. Entrepreneurial spirit of United States is born partly out of this security. i) Technical/Industrial Training Facilities – Industrial Training facilities on one hand generate skilled manpower so vitally required for setting up enterprises while on the other hand they are also nursery for future entrepreneurs.
- 38. 38 j) Globalization – Globalization has provided another avenue for business. Many dare devils have taken a head– along plunge into this uncharted water and have written
- 39. 39 What makes a Successful Entrepreneur? • The urge for achievement (most often monetary ambitions) – Most Important • Willingness to take moderate risks – (High risk takers are not entrepreneurs but gamblers). • Determination to win • Win– Win Personality • Ability to identify & explore opportunities • Analytical ability to take strategic decisions • Perseverance • Flexibility • Capacity to plan and organize • Preparedness to undergo physical and emotional stress • Positive self concept/Self Belief • Future orientation – Vision • Ethics and Values – Mission Who can be an Entrepreneur?