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Entrepreneurship Skill and Behaviour (BPME 2013)


Lecturer: Assoc Prof Habshah Bakar
Room: COB 164 (College of Business Main Building) Tel: 04-9287498 Email: habshah2012@yahoo.com CONSULTATION HOURS: MON & WED: 10.00 am -12.00 noon

BPME2013 Assoc Prof Habshah Bakar

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OVERVIEW..
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Syllabus Expectation
Attendance 80% compulsory. Hand phone, dressing code, etc. Participation in class

Mode of teaching and learning Coursework and Assessment

BPME2013 Assoc Prof Habshah Bakar

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COURSE OBJECTIVES students are expected to:

acquire related knowledge and management skill in developing a business.

understand the skills and management behaviour needed as an entrepreneur.


identify the relationship of entrepreneurial motivation in developing business justify the importance of networking in developing a business apply the knowledge, management skill and leadership in the business context

relate the business challenges and critical success factors in developing business

BPME2013 Assoc Prof Habshah Bakar

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LEARNING OUTCOME students are able:

To identify and explain the skill and management that needs to be practiced in business
To explain the relationship of entrepreneurial motivation in developing business

To relate the importance of business networking in developing a business


To explain the method of managing the internal and external networking of an organization effectively To transfer the entrepreneur knowledge and skill into the act of managing the business To explain the challenges and the critical success factors that an entrepreneur should know in developing a business

BPME2013 Assoc Prof Habshah Bakar

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MODE OF TEACHING AND LEARNING


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Student centred learning


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COURSEWORK AND ASSESSMENT


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Coursework 60% + Final Exam 40%


ASSIGNMENTS MARKS Lets Blog!! Process and reflection paper (10%) Review of articles from the blog (5%) Living Entrepreneurship Proposal of Business Idea (5%) Report (25%) Presentation (10%) Quiz (1) Total
BPME2013 Assoc Prof Habshah Bakar

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5 60%

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Objective of the session


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To understand on the concept of entrepreneur and entrepreneurship To trace the evolution of entrepreneurship To identify the importance of entrepreneurship To reflect on the entrepreneurship in Malaysia

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Understanding the concept

WHO IS THE ENTREPRENEUR?


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Entreprendre (to undertake)

Innovator or developer

Recognize opportunities

convert opportunities to ideas

Invest time, effort, money or skills

Add value

Resource organizer

REWARD

Assume risk

implement these ideas and realized the rewards from these efforts
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BPME2013 Assoc Prof Habshah Bakar

VARIATION OF MEANING ACCORDING TO DISCIPLINE


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Economist

brings resources together in unusual combinations to generate profit.


look at the behavioral term of achievement-oriented individuals driven to seek challenges and new accomplishments

Psychologist
Marxist philosophers Market economy

exploitative adventurers in the negative light of capitalism

pillars of industrial strength (the mover and shakers who constructively disrupt the status quo)
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BPME2013 Assoc Prof Habshah Bakar

DEFINITION OF ENTREPRENEUR
One who undertakes to organize, manage and assume the risks of a business (Kuratko & Hodgetts, 2001)

A person who perceives an opportunity and creates an organization to pursue it


(Bygrave in Bygrave & Zacharakis, 2004)

One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them (Zimmerer & Scarborough,
2005)

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Entrepreneur
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is a catalyst for economic change and growth; who uses purposeful searching, careful planning, and sound judgment when carrying out the entrepreneurial process. Uniquely optimistic and committed, the entrepreneur works creatively to establish new resources or endow old ones with a new capacity, all for the purpose of creating wealth Related concepts - entrepreneurial, entrepreneurship and entrepreneurial process.
BPME2013 Assoc Prof Habshah Bakar

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WHAT IS ENTREPRENEURSHIP?
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a creative act

possess the know-how to find, marshal and control resources

Ability to create and build a vision from practically nothing (Timmons, 1994)

initiate and build an enterprise

see opportunity admist chaos


BPME2013 Assoc Prof Habshah Bakar

willingness to take calculated risks


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involve time and effort


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gain independence

The process of creating something new with value (Hisrich & Peters, 1998)
receive rewards of monetary and personal satisfaction

assume financial, psychic and social risks

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ENTREPRENEUSHIP DEFINED
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Kuratko & Hodgetts (2004): is a process of innovation and new venture creation through four major dimension individual, organization, environmental & process that is aided by collaborative networks in government, education and institutions.

BPME2013 Assoc Prof Habshah Bakar

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Macro and Micro

Micro perspectivefocuses on the behavior and thoughts of individuals Macro perspectivefocuses primarily on environmental factors Both are key in understanding the entrepreneurial process

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TIMMONS MODEL OF THE ENTREPRENEURIAL PROCESS Business plan Opportunity Resource

Ambiguity

Fits & Gaps

Exogenous forces

Creativity
Entrepreneur

Leadership

Uncertainty
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Market Model

ENTREPRENEURIAL PROCESS
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Recognition of an opportunity
Deciding to proceed and assemble resources Launching a new venture Building success and managing growth Harvesting the rewards
Baron & Shane (2008)
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Ingredients for a successful new business (9Fs)


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Founders

Every startup company must have a 1st class entrepreneur

Focused
Fast Flexible Foreverinnovating

Focus on niche markets where they specialize


They make decision quickly and implement them swiftly They keep an open mind and respond to changes They are tireless innovators

Flat Frugal
Friendly Fun

Have as few layers of management as possible By keeping overhead low and productivity high
Friendly to their customers, suppliers and workers It is fun to be associated with an entrepreneurial company
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Rosabeth Kanter

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ENTREPRENEURS VERSUS SMALL BUSINESS OWNERS: A DISTINCTION

Small Businesses Owners Manage their businesses by expecting stable sales, profits, and growth Entrepreneurs Focus their efforts on innovation, profitability and sustainable growth. Their involvement in entrepreneurship is more than mere creation of business

Seeking opportunities
Taking risks beyond security Having the tenacity to push an idea through to reality
BPME2013 Assoc Prof Habshah Bakar

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THE IMPORTANCE OF ENTREPRENEURSHIP


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Transform life through invention eg. invention of electricity, ICT, transportation Engine for economic growth

entering and expanding existing markets innovation activities lead to technological change productivity growth

Encourage creativity

creating entirely new markets by offering innovative products

Promote wealth distribution

increasing diversity and fostering minority participation in the economy through career choice and jobs opportunities
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Can entrepreneurship develop in countries without government intervention?


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ENTREPRENEURSHIP DEVELOPMENT IN MALAYSIA


Barter trade system exchanges of goods Port of Malacca interaction with foreign merchants Colonialisation policy divide and rule
Malays administration and agriculture Chinese- mining and business Indians estate

After Merdeka government develop New Economic Policy (1971-1990), New Development Policy, Vision 2020.

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GOVERNMENTS INTERVENTION
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To foster a vibrant entrepreneurship culture and creating a new generation of resilient and competitive entrepreneurs Integrating entrepreneurship culture in the educational system (introduction of subjects such as Economy, Commerce and Accounting) Provide positive business environment, tax incentives, various financing schemes , physical infrastructure, and advisory services through supporting policies. Encouraging privatisation to provide the private sectors with opportunities in areas previously controlled by government agencies
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Entrepreneurship in Malaysia
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Entrepreneurial activities in Malaysia- current issues Richest entrepreneurs in Malaysia Richest entrepreneurs in South East Asia Social Entrepreneurship The Importance of Entrepreneurship Field.

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To be an entrepreneur.
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Management Spiritual
Thinking

What do you need?


Physical Relationship

Mental
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Preparation to be an entrepreneur
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Develop networking

Empower yourself with IT skill


Be passionate with knowledge expose yourself to information

Improve on your communication skill language and interpersonal skill

Develop self confidence

Strengthen your spiritual aspect


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Develop saving and investment orientation

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