Entrepreneurship 1_Demo - Jalilul II.pptx

Notes

1. Abdurakib T. Jalilul, LPT Presenter ENTREPRENEURIAL MIND

2. The word was originally used to described people who “take on the risk” between buyers and sellers or “undertake” a task such as starting a new venture. Origin of the Word “Entrepreneur” What is Entrepreneurship? Difference Businessman and Entrepreneur Businessman run their business for the primary purpose of making profits. Entrepreneurs on the other hand, also intends to make profits but with the greater purpose of making a change, making the life of his/her community easier and promotes convenience lifestyle. An Entrepreneur puts together all the resources needed- the money, the people, the strategy, and the risk bearing ability to transform the invention into a viable business.

3. Entrepreneurship is the process by which individuals pursue opportunities without regard to the resources they currently control. What is Entrepreneurship? The essence of entrepreneurial behavior is identifying opportunities and putting useful ideas into practices. The set of tasks called for by this behavior can be accomplished by either an individual or a group typically requires creativity, drive, and a willingness to take risks.

4. Entrepreneurship is the process by which individuals pursue opportunities without regard to the resources they currently control. What is Entrepreneurship? The essence of entrepreneurial behavior is identifying opportunities and putting useful ideas into practices. The set of tasks called for by this behavior can be accomplished by either an individual or a group typically requires creativity, drive, and a willingness to take risks.

5. Role of an Entrepreneur Initiator – man who envisages new opportunities. Innovator – brings in overall change through innovation for maximum social good. Human values remain sacred & inspire him to serve society. Coordinator – has firm belief in social betterment, carries out responsibility with conviction. Accelerates personal, economic and human development. Leader – he is a visionary with leadership skills. Desires to excel and priorities research and development. 5. Development Agent – contributes to the development of his community by providing employment and building up the economy. Raising the standard way of living of the people. 6. Social Worker – works for the well-being of the society.

6. All these qualities were exemplified by Pierre Omidyar, the founder of Ebay . In 1995, Omidyar saw an opportunity to create a marketplace where people could buy and sell products online, he risked his career by quitting his job to work on eBay full time, and he worked hard to build a profitable company that delivers a creative and useful services to its customers at their leisure through online shopping. Origin of the Word “Entrepreneur” eBay Case

7. All resources (wood, coal, oil, etc.) that cost money are “scarce.” scarce resources are typically exhaustible and limited to a certain degree. These types of resources are typically needed sustainable planning through sustaining it and preserving it. Entrepreneurs Add Value to Scarce Resources Entrepreneurs add value to scarce resources by shifting them from areas of lower to higher productivity modifying them and turning them into something that is innovative and useful, a new product. The set of tasks called for by this behavior can be accomplished by either an individual or a group typically requires creativity, drive, and a willingness to take risks.

8. An economy is a country’s financial structure. It is the system that produces and distributes wealth. What should be produced? When will it be produced? How will it be produced? Who will produce it? Who gets to have what is produced? The Economic Questions

9. Why be an Entrepreneur? Control over time Fulfillment Creation/Ownership Control over Compensation, Salary, Wage, Dividend & Commission Control over Working Conditions The Economic Questions

10. Business Failure Obstacles Loneliness Financial Insecurity Long Hours/Hard Work Costs and Benefits of Entrepreneurships Costs Benefits Independence Satisfaction Financial Reward Self-Esteem Contribution to Society

11. Use of new technology to produce a new product. Use an existing technology to produce a new product. Use an existing technology to product an old product in a new way. Find a new source of (cheaper) resources. Develop a new market for an existing product. Sources of Opportunity

12. Problems Changes Inventions Competition Technological Advances. Where other see problems, entrepreneurs recognize opportunities 5 Roots of Opportunity

13. Use of ‘SWOT’ to evaluate business ideas

14. Recognize an opportunity Evaluate it with critical thinking (SWOT) Build a team Write a business plan Gather resources Decide ownership Create Wealth 7 Rules for Building a Successful Business

15. Do not sell counterfeit knockoffs of popular brands. Do not take graphics, music, or content from the Web without permission. Know the sources of goods you sell, to avoid the risk of selling stolen property. Respect Intellectual Property- Ethics

16. Do not sell counterfeit knockoffs of popular brands. Do not take graphics, music, or content from the Web without permission. Know the sources of goods you sell, to avoid the risk of selling stolen property. Respect Intellectual Property- Ethics

17. Do not sell counterfeit knockoffs of popular brands. Do not take graphics, music, or content from the Web without permission. Know the sources of goods you sell, to avoid the risk of selling stolen property. Respect Intellectual Property- Ethics

18. Do not sell counterfeit knockoffs of popular brands. Do not take graphics, music, or content from the Web without permission. Know the sources of goods you sell, to avoid the risk of selling stolen property. Respect Intellectual Property- Ethics

19. Do not sell counterfeit knockoffs of popular brands. Do not take graphics, music, or content from the Web without permission. Know the sources of goods you sell, to avoid the risk of selling stolen property. Respect Intellectual Property- Ethics

20. THANKS THANKS