entrep

• ENTREPRENEUR -

  the capacity and willingness to develop,

  organize and manage a business venture

  along with any of its risks in order to make a

  profit.
• IN ECONOMIC ENTREPRENEUR entrepreneurship combined with


  land, labor, natural resources and capital
• The entrepreneurs are tough, practical people driven by


  needs of independence and achievement.
• Entrepreneurial spirit is characterized by _and is an essential part of a nation's

  ability to succeed in an ever changing and

  increasingly competitive global marketplace.

  innovation and risk-taking,
• The entrepreneur is motivated by an overwhelming_and strong urge to build.

  need for achievement
• The entrepreneurs are tough, practical people

  driven by

  needs of independence and achievement.
• what are the types of entrepreneur according to cole

  innovator, calculating innovator, over optimistic promoter, organization builder
• according to h. knight and peter ducker entrepreneurship is about taking

  risk
• three types of uncertainty

  Risk, Ambiguity, True Uncertainty or

  Knightian Uncertainty
• which is measurable

  statistically.

  Risk
• which is hard to

  measure statistically

  Ambiguity
• which

  is impossible to estimate or

  predict statistically.

  True Uncertainty or

  Knightian Uncertainty,
• is an

  individual who establishes and

  manages a business for the

  principal purpose of furthering

  personal goals.

  Small Business, Lifestyle , and

  Family Entrepreneur
• franchising where a

  franchisor is offering a

  franchisee exclusive rights in

  return for their payment of

  royalties and agreement to

  standardized operating

  procedures.

  Franchise Entrepreneurs
• A driving force for the

  corporate world is "innovate or die.


  Corporate Entrepreneurs and

  Intrapreneurs.
• These entrepreneurs are a rare breed,

  living on the creative edge and somehow called "entrepreneurial-

  engineers" who look technology as to

  solve problems in ways that "unlock

  value”.

  Creative Disrupters and

  Innovators
• PHILANTHROPOS that means


  "lover of mankind.
• This includes physical labor, one of the

  most important resources which can be

  classified in a number of ways, direct or

  indirect labor.

  Human Capital
• Also called intangibles and goodwill, it is

  the first of two business assets that includes

  intellectual property like: patents, trade

  secrets, trademarks, confidentiality

  agreements, exclusive customer

  relationships.

  Opportunity Capital
• The second of two business assets is called

  tangibles.

  Economic Capital
• Two types of Tangibles

  fixed assets, current assets
• type of Tangibles like land, physical building,

  manufacturing plant, office space and

  machinery, all called "property, plant, and

  equipment" (PP&E) in accounting terms.

  fixed assets,
• a type of Tangibles which includes inventory,

  materials, direct materials and subcontract

  materials, like components, parts, assemblies

  produced by a supplier or vendor in

  accordance with designs and specifications.

  current assets
• This includes cash in the

  checking account, and cash

  equivalents like publicly traded

  stocks, bonds, sometimes

  accounts receivables from

  marquee customers, and

  personally secured loans made to

  the venture. Clearly, these

  financial resources are the most

  frequently needed.

  Financial Capital
• THREE TYPES OF FRANCHISING:

  Product Franchising, Service Franchising, and Business Format Franchising
• This includes the collective domain expertise,

  the execution intelligence, the time and

  commitment, and combined intrinsic

  motivation of a venture team.

  It is the entrepreneur, who quite often

  includes other entrepreneurs, that creates and

  drives value out of unique, and sometimes

  exclusive combinations, of the four other

  resources above.

  Entrepreneurial Capital
• is an

  individual who establishes and

  manages a business for the

  principal purpose of furthering

  personal goals.

  Small Business, Lifestyle , and

  Family Entrepreneur