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dy reports:
6* o Men are twice as likely to start a business as women. o Most entrepreneurs turn to family members and friends for capital. o Entrepreneurs are most likely to launch businesses when they are between the ages of 25 and 44.
Entrepreneurship:
=is
the process of creating something ,nevv with value by devoting the necessary time and effort, assuming the accompanying financial, psychic,
and social risks, and receiving the resulting rewards of monetary and personal satisfaction and independence.
At the end of this topic student are iliven ii the following competencies: 1. Understanding the concept of entrepreneurship and entrepreneur 2. Identifying characteristics of successful entrepreneurs 3. Comparison between entrepreneur and non-entrepreneur 4. Analyzing oneself as preparation to be entrepreneur.
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Wan Yusoff
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entrepreneurship and entrepreneur Why become an entrePreneur? Characteristics of successful entrepreneur o Adva ntages/d isadvantages of
entrepreneu rshiP
Definition/concePt of
o GEM study: 1B .7o/o of adult population in the U.S. is actively involved in trying to start a new business.
ENTREPRENEURSHIP
and implements tm firm that operates F:# combinations of new activities such as ry product development, market research,
Re p ro d u ct i o n
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Copyright 2012
Who is an Entrepreneur?
Entrepreneurs:
Know how to make a difference Know how to spot and exploit opportunities w l. Know how to find the resources required ,r.1.' 4. Who add value s. Have and maintain a good network 6. Create capital 7. Manage risk and uncertainty B. Determined in the face of adversity e. Involves creativity and innovation ro. Involves in enterprising activities
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r To be own boss
o Pursue their own ideas o Realize financial rewards
To be own boss
o Create your own destiny o Make a difference o Reach your full potential o Reap impressive profits o Contribute to society and to be recognized for your efforts o Do what you enjoy and to have fun at
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Advantages of entrepreneurship
Autonomy
- self control
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Disadvantages of entrepreneur
Uncertainty of income Risk - losing your entire investment o Long hours and hard work o Lower quality of life until the business gets established o High levels of stress o Complete responsibility
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Copyright of Dr. Wan Fauziah Wan Yusoff 2012
Contribution of entrepreneurs
o DeveloPing new markets o Discovering new source of materials o Mobili zing ca Pita I resou rces o Introducing new technology o Creating emPloYment
6lectronic goods
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Copyright of Dr. Wan Fauziah Wan Yusoff 2012
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are born, not made are gambler are motivated by money should be young and
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