Entrepreneurship

• Entrepreneurship - Derived from french word "entreprende" meaning to undertake.
• Entrepreneurs - they are innovators.
• Relevance of Entrepreneurship

  1. Development of Managerial Capabilities
  2. Creation of Organizations
  3. Improving Standard of Living
  4. Means of Economic Development
• Development of Managerial Capabilities - to develop Managerial skills.
• Creation of Organizations - This means the because of entrepreneurship many organizations will exist.
• Improving Standard of Living - This means that entrepreneurship can lift up the economic status of an individual.
• Means of Economic Development - This means that not only the lives of the entrepreneurs are improved but also the society.
• Affect in personality

  1. initiative
  2. Proactive
  3. Problem Solver
  4. Perseverance
  5. Persuasion
  6. Planner
  7. Risk Taker
• Initiative - The ability to turn ideas into action through creativity, innovation, and risk-taking, as well as the ability to plan and manage projects.
• Proactive - Can classify oppor5uniopportunities and seize it.
• Problem Solver - Which mean he/she can retain good relations with other people.
• Perseverance - meaning he/she will pursue things to get done regardless of challenges.
• Persuasion - means that he/she can entice people to buy even if they don't want it.
• Planner - he/she makes plan before doing things and doesn't fail to monitor it.
• Risk Taker - Means that he/she is willing to gamble but he/she will calculate it first.
• Affect the Environment

  • Political, climate, legal system, economic, and social conditions and market conditions.
• Common Competencies of Entrepreneurship

  1. Decisive
  2. Communicator
  3. Leader
  4. opportunity seeker
  5. proactive
  6. risk-taker

  7. Innovative
• 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 - an entrepreneur can control a situation by making things happen or by preparing for possible future problems.
• Risk-taker - an entrepreneur has the courage to pursue business ideas.
• Innovative - the entrepreneur has big business ideas and he does not stop improving and thinking of new worthwhile ideas for his business.
• Types of Entrepreneurs

  1. Innovative Entrepreneurs
  2. Imitating Entrepreneurs
  3. Fabian Entrepreneurs
  4. Drone Entrepreneurs
  5. Social Entrepreneurs
• Innovative Entrepreneurs - They are those who always make new things by thinking of new ideas. They have the ability to think newer, better and more economical ideas.
• Steve Job - was an American inventor and entrepreneur who was the co-founder, chief executive, and chairman of Apple computers. - co-founded Apple with Steve Wozniak - started a Computer company named Apple
• 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. They don't initiate but follow only after they are satisfied.
• DRONE ENTREPRENEURS - They are those who live on the labor of others. They are die-hard conservatives even ready to suffer the loss of business.
• Social Entrepreneurs - They are those who initiate changes and drive social innovation and transformation in the various fields such as education, health, human rights, environment and enterprise
• Steve Job is a co-found Apple with Steve Wozniak.
• Marc ,Alexander, and Oliver Samwer
• Alando - Copy cat of Ebay
• StudiVZ - copy cat version of Facebook.
• Toms was founded as a business in 2006 by Blake Mycoskie.
• Toms derived from the term 'Shoe for Tomorrow Project'
• The first designs were based on the classic Argentinian Alpargata designs, also known as espadrilles.
• Pioneered the One for one-model giving away one pair of shoes for every pair sold.
• M - Mind Frame

  A - Aspiration

  R - Rivalry

  K - Knowledge

  E - Environment

  T - Technology