Entrepreneurship (module) 02/19

• Types of Entrepreneurs:

  • Innovative Entrepreneurs: Think of new ideas and create newer, better, and more economical ideas
  • Imitating Entrepreneurs: Follow the ideas of other entrepreneurs without creating new things
  • Fabian Entrepreneurs: Skeptical about changes, don't initiate but follow after being satisfied
  • Drone Entrepreneurs: Live on the labor of others, conservative and willing to suffer business losses
  • Social Entrepreneurs: Drive social innovation and transformation in fields like education, health, human rights, environment, and enterprise development
• Career Opportunities in Entrepreneurship:

  • Business Consultant: Provides advice to other entrepreneurs and aspiring business people
  • Teacher: Can use entrepreneurship knowledge in teaching
  • Researcher: Employed as a researcher by an enterprise
  • Sales: Can apply as a salesman
  • Business Reporter: Expert in the field, can be employed as a business reporter
• Benefits of entrepreneurship to an organization:

  • Development of managerial capabilities for the entrepreneur
  • Creation of organizations due to entrepreneurship
  • Improvement of the standard of living for individuals
  • Contribution to economic development in the society
• Definition of entrepreneurship:

  • Derived from the French verb enterprendre, meaning "to undertake"
  • Entrepreneurs are innovators willing to take risks and generate unique ideas for profitable solutions
• Factors affecting entrepreneurship:

  • Personality factors which include:
  • Personality factors which include:Initiative
  • Proactive
  • Problem solver
  • Perseverance
  • Persuasion
  • Planner
  • Risk-taker
  • Environmental factors:
  • Political, climate, legal system, economic and social conditions, and market situations
• Common competencies in entrepreneurship:

  • Decisive decision-making
  • Effective communication skills
  • Leadership qualities
  • Ability to identify opportunities
  • Proactive approach
  • Willingness to take risks
  • Innovative thinking
• Core competencies in entrepreneurship:

  • Economic and dynamic activity involving the creation and operation of enterprises to create value
  • Constant innovation and creativity
  • Profit potential from business operations
  • Risk-bearing ability to offset potential risks