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OVERVIEW..
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Syllabus Expectation
Attendance 80% compulsory. Hand phone, dressing code, etc. Participation in class
1-2
relate the business challenges and critical success factors in developing business
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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
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1-5
15
40
5 60%
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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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Innovator or developer
Recognize opportunities
Add value
Resource organizer
REWARD
Assume risk
implement these ideas and realized the rewards from these efforts
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Economist
Psychologist
Marxist philosophers Market economy
pillars of industrial strength (the mover and shakers who constructively disrupt the status quo)
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DEFINITION OF ENTREPRENEUR
One who undertakes to organize, manage and assume the risks of a business (Kuratko & Hodgetts, 2001)
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
Ability to create and build a vision from practically nothing (Timmons, 1994)
gain independence
The process of creating something new with value (Hisrich & Peters, 1998)
receive rewards of monetary and personal satisfaction
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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.
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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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Ambiguity
Exogenous forces
Creativity
Entrepreneur
Leadership
Uncertainty
17 BPME2013 Assoc Prof Habshah Bakar
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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Founders
Focused
Fast Flexible Foreverinnovating
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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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
1-20
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
increasing diversity and fostering minority participation in the economy through career choice and jobs opportunities
BPME2013 Assoc Prof Habshah Bakar
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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
BPME2013 Assoc Prof Habshah Bakar
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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
Mental
BPME2013 Assoc Prof Habshah Bakar
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Preparation to be an entrepreneur
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Develop networking
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