ENTREPRENEURSHIP AND ORDINARY SMALL BUSINESS ACTIVITY

• • •Motive in opening a business, Perception of risk in the business, Reactions to changes in the environment, View on competition, Vision for development and growth, Horizon of business operation, and Source of business funds


  ENTREPRENEURSHIP AND ORDINARY SMALL BUSINESS DIFFER IN THE FOLLOWING AREAS
• MOTIVE IN OPENING A BUSINESS, WHY WOULD YOU OPEN YOUR SMALL BUSINESS? of a Small business or ENTREPRENEUR


  •Become successful
• MOTIVE IN OPENING A BUSINESS, WHY WOULD YOU OPEN YOUR SMALL BUSINESS? of ORDINARY SMALL BUSINESS


  •Source of livelihood
• PERCEPTION OF RISK IN THE BUSINESS, HOW WOULD YOU HANDLE THE RISK IN YOUR BUSINESS? OF ENTREPRENEUR


  •Takes and faces the business risk squarely
• PERCEPTION OF RISK IN THE BUSINESS, HOW WOULD YOU HANDLE THE RISK IN YOUR BUSINESS? ON ORDINARY SMALL BUSINESS


  •Believes business risk is a deterrent to the operation of the business and must be avoided
• REACTIONS TO CHANGES IN THE ENVIRONMENT, WOULD YOU CONSIDER THEM FAVORABLE OR UNFAVORABLE TO YOUR BUSINESS? WHY? OF ENTREPRENEURS


  •Reacts positively to the changes in the environment
• REACTIONS TO CHANGES IN THE ENVIRONMENT, WOULD YOU CONSIDER THEM FAVORABLE OR UNFAVORABLE TO YOUR BUSINESS? WHY? OF ORDINARY SMALL BUSINESS


  •Passive and static to changes in the environment
• VIEW ON COMPETITION, WHAT IS YOUR VIEW ABOUT COMPETITION? OF ENTREPRENEUR


  •A SIGN OF HEALTHY ECONOMIC ENVIRONMENT
• VIEW ON COMPETITION, WHAT IS YOUR VIEW ABOUT COMPETITION? OF ORDINARY SMALL BUSINESS


  •UNHEALTHY ELEMENT IN THE BUSINESS ENVIRONMENT
• HORIZON OF BUSINESS OPERATION, TOWARD WHAT BUSINESS HORIZON WOULD YOU DIRECT YOUR BUSINESS? ON ENTREPRENEUR


  •Thinks globally but acts locally
• HORIZON OF BUSINESS OPERATION, TOWARD WHAT BUSINESS HORIZON WOULD YOU DIRECT YOUR BUSINESS? ON ORDINARY SMALL BUSINESS


  •Centered only on the local environment
• SOURCE OF BUSINESS FUNDS, WHAT WILL THE PRIMARY SOURCE OF FUNDS FOR YOUR BUSINESS? ON ENTREPRENEURS


  •INTERNAL AND EXTERNAL RESOURCES
• SOURCE OF BUSINESS FUNDS, WHAT WILL THE PRIMARY SOURCE OF FUNDS FOR YOUR BUSINESS? ON ORDINARY SMALL BUSINESS


  •LIMIT TO THE FUNDING OF HIS/HER BUSINESS ENTERPRISE TO PERSONAL RESOURCES
• VISION FOR DEVELOPMENT AND GROWTH, WOULD YOU HAVE A DEVELOPMENT PLAN FOR YOUR BUSINESS? ON ORDINARY SMALL BUSINESS


  RELIES ON CHANCE AND LUCK
• VISION FOR DEVELOPMENT AND GROWTH, WOULD YOU HAVE A DEVELOPMENT PLAN FOR YOUR BUSINESS? ON ENTREPRENEUR


  BUSINESS IS CLEAR