Lecture 01111111111111111111111111111111111111111111111.pptx

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1. Entrepreneurship Dr. Ann 1

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4. There is tremendous interest in entrepreneurship around the world 1- 4 According to the GEM 2005 study, about 330 million people, or 14% of the adults in the 35 countries surveyed, are involved in forming new businesses

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8. Entrepreneurial Firms 1- 8 Conservative Firms Proactive Innovative Risk taking Take a more “wait and see” posture Less innovative Risk adverse

9. There are three primary reasons that people become entrepreneurs and start their own firms 1- 9 1. Desire to be their own BOSS 3. Financial Rewards 2. Desire to pursue their OWN IDEAS

10. Four Primary Characteristics of Successful Entrepreneurs 1- 10

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14. Although no one is “born” to be an entrepreneur, there are common personality traits and characteristics of successful entrepreneurs 1- 14 Achievement motivated Alert to opportunities Creative Decisive Energetic Has a strong work ethic Is a moderate risk taker Lengthy attention span Optimistic disposition Persuasive Promoter Resource assembler Self-confident Tenacious Tolerant of ambiguity Visionary

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18. Types of Start-up Firms 1- 18

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25. The Entrepreneurial Process Consists of Four Steps Step 1: Decision to become an entrepreneur Step 2: Developing successful business ideas Step 3: Moving from an idea to an entrepreneurial firm Step 4: Managing and growing an entrepreneurial firm 1- 25