Entrepreneurship

• Entrepreneurship

  • The course deals with the concepts, underlying principles, processes and implementation of a business plan.
• FACTORS AFFECTING ENTREPRENEURSHIP

  • PERSONALITY FACTORS
  • ENVIRONMENTAL FACTORS
• Initiative - which means doing things even before being told.
• Proactive - which means he can classify opportunities and seize it.
• Problem Solver - which means he can retain good relations with other people.
• Perseverance - meaning he will pursue things to get done regardless of challenges.
• Persuasion - means that he can entice people to buy even if they don't.
• Entrepreneur - derived from the French verb enterprendre, which means "to undertake."
• Planner - meaning he makes plan before doing things and do not fail to monitor it.
• Risk-taker - which means that he is willing to gamble but he will calculate it first.
• Environmental Factor

  • Political
  • Climate
  • Legal System
  • Economic and social condition
  • Market situation
• Decisive - an entrepreneur must be firm in making decisions.
• Communicator - an entrepreneur must have a convincing power.
• Leader - an entrepreneur must have the charisma to be obeyed by his employees.
• Opportunity seeker - an entrepreneur must have the ability to be the first to see business chances.
• Proactive - controlling a situation by making things to happen or by preparing for possible future problems.
• Risk Taker - they have the courage to pursue their business ideas.
• Innovative - the entrepreneurs have big business ideas and they do not stop improving.
• Innovative entrepreneur - They are those who always make new things by thinking of new ideas.
• Imitating entrepreneurs - They are those who don't create new things but only follow the ideas of other entrepreneurs.
• Fabian entrepreneurs - They are skeptical about changes to be made in the organization.
• Drone entrepreneur - They are those who lives on the labor of others.
• Social entrepreneurs - They are those who initiate changes and drive social innovation and transformation in the various fields.
• Economic and dynamic activity

  • it involves the creation and operation of an enterprise with a view to creating value or wealth by ensuring optimum utilization of limited resources.
• Innovative

  • Entrepreneurs constantly look for new ideas, thus he needs to be creative.
• Profit Potential

  • The entrepreneur can be compensated by his profit coming from the operation.
• Risk bearing

  • The entrepreneur needs to gamble but wise enough to offset the risk.