FUNDAMENTALS OF

ENTREPRENEURIAL
ACCULTURATION (UW00302)
Unit 1

October 20, 2015

Concept and
Development of
Entrepreneurship
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Learning Outcomes
1. Describes the definition of entrepreneurship
and entrepreneur.
2. Understand the contribution of
entrepreneurship.
3. Identify the characteristics of successful
entrepreneurs.
4. Know the successful stories of entrepreneurs.

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Unit 1 Concept and Development of

Entrepreneurship

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 Hisrich and Peter, 1998

An entrepreneur puts together all the resources
neededthe money, the people, the strategy,
and the risk-bearing ability to transform the
invention into a viable business

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What is Entrepreneurship? cont

Kuratko & Hodgetts, 2007

Entrepreneurship is a dynamic
process of innovation and creation
through 4 dimension : individual,
organization, environmental, and
process of cooperation linkages with
government, education, and
constitution.
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What is Entrepreneurship?
Entrepreneur is derived from the French
entreprendre, meaning to undertake a
task such as starting a new venture.

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What is Entrepreneur?
Kuratko & Hodgetts, 2007

Entrepreneur is a individual who seek

business opportunities under conditions of
uncertainty.
Entrepreneur is a person who strive by
examine and make wise consideration to
order, manage and risk in business by
holding to the main objective namely
innovation, profit and development
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What is Entrepreneur ?cont

Scarborough and Zimmerer ,1998
Entrepreneur is an individual who creates
a new business in the face of uncertainty
for the purpose of achieving profit and
growth by identifying and capitalizing
opportunities and assembling the
necessary resources to capitalize on the
identified opportunities.
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Difference Between an Inventor and an

Entrepreneur
Difference Between an Inventor and an
Entrepreneur
An inventor creates something new.
An entrepreneur puts together all the
resources neededthe money, the people,
the strategy, and the risk-bearing ability to
transform the invention into a viable business.

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Characteristics of Successful
Entrepreneurs
Four Primary Characteristics of Successful
Entrepreneurs
1) Passion for the Business
2) Product/Customer Focus
3) Tenacity Despite Failure
4) Execution Intelligence

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Characteristics of Successful
Entrepreneurs cont
1) Passion for the Business
This passion typically stems from the
entrepreneurs belief that the business will
positively influence peoples lives.
Passion describe the reason people quit their
job and start their own business.
Eg Bill Gates, Michael Dell, Larry Page and
Sergei

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Characteristics of Successful
Entrepreneurs cont
2) Product/Customer Focus
An entrepreneurs keen focus on products
and customers typically stems from the fact
that most entrepreneurs are, at heart,
craftspeople.
Michael Dell company focus is to introduce
technology that satisfy consumers needs and
not their own needs

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Characteristics of Successful
Entrepreneurs cont
3) Tenacity Despite Failure
Because entrepreneurs are typically trying
something new, the failure rate is naturally
high.
A defining characteristic for successful
entrepreneurs is their ability to persevere
through setbacks and failures. Eg The late
Tan Seri Lim Goh Tong

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Characteristics of Successful
Entrepreneurs cont
4) Execution Intelligence
The ability to fashion a solid business idea
into a viable business is a key
characteristic of successful entrepreneurs.
ability to perform a business model,
combination of resources, new venture,
financial wealth, creativity, motivation, etc

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Characteristics of Successful
Entrepreneurs
Watch Video Clip:
Usahawan Sejati

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Characteristics of Successful
Entrepreneurs cont
Kao, (1991) suggested other
entrepreneur characteristics :

a)Commitment, strong desire, endurance

b)Motivation towards success
c)Goal oriented
d) Initiative
e)Responsible

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Characteristics of Successful
Entrepreneurs cont

f) Realistic
g) Information seeking
h) Internal locus of control
i) Risk taker
j) Low inducement to standard and power
level
k) Integrity

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Personal Entrepreneurial
Competencies
Test for Personal Entrepreneurial
Competencies
Special Workshop on Personal
Entrepreneurial Competencies (dibiayai
oleh USAID di Oxford) oleh McBer &
Company di United Kingdom, 1985.

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Competencies
- Competencies are defined as abilities and
skills.
- We believe that recognition of these
competencies as abilities and skills makes
entrepreneurship as a teachable and
learnable behavior.

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13 Personal Entrepreneurial
Competencies
1. Initiative
2. Sees and acts on opportunities
3. Persistence
4. Information seeking
5. Concern for high quality of work
6. Commitment to work contract
7. Efficiency orientation

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13 Personal Entrepreneurial
Competencies cont
8. Systematic planning
9. Problem solving
10. Self confidence
11. Assertiveness
12. Persuasion
13. Use of influential strategies

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Assignment
Do the Test for Personal
Entrepreneurial Competencies refer
Tam et. al. (2014), Asas
Keusahawanan.

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What are the Contributions of

Entrepreneurship to the
Country?

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Successful Entrepreneurs (WHO ARE

THEY?)

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Who are THEY?

WORLD BILLIONAIRES 2011

No. 1 Carlos Slim Hel

No. 2 William Gates III
No. 3 Warren Buffett
No. 4 Bernard Arnault
No. 5 Larry Ellison
No. 6 Lakshmi Mittal
No. 7 Amancio Ortega
No. 8 Eike Batista
No. 9 Mukesh Ambani
No. 10 Christy Walton

http://www.forbes.com/lists/2011

Who are THEY?

WORLD BILLIONAIRES 2011

No. 1 Carlos Slim Hel $74 billion, Telecom, Mexico

No. 2 William Gates III $40.0 bil Microsoft Founder, US
No. 3 Warren Buffett $37.0 bil Investment, insurance, US
No. 4 Bernard Arnault $41 billion : LVMH, France
No. 5 Larry Ellison $39.5 billion :Oracle , U.S.
No. 6 Lakshmi Mittal $31.1 billion :Steel , India
No. 7 Amancio Ortega $31 billion : Zara, Spain
No. 8 Eike Batista $30 billion: Mining, oil , Brazil
No. 9 Mukesh Ambani $27 billion : Petrochemicals, India
No. 10 Christy Walton $26.5 billion : Wal-Mart , US

http://www.forbes.com/lists/2011

10 Great Malaysian
Entrepreneurs 2011
1. Robert Kuok
2. Ananda Krishnan
3. Lee Shin Cheng
4. Lee Kim Hua
5. Quek Leng Chan
6. Teh Hong Piow
7. Yeoh Tiong Lay
8. Syed Mokhtar Al-Bukhary
9. Vincent Tan
10. Tiong Hiew King

http://skorcareer.com.my/blog/10-great-malaysian-entrepreneurs 2011

10 Great Malaysian
Entrepreneurs 2011
1. Robert Kuok $12 billion, sugar , Jerneh Insurance,
2. Ananda Krishnan $8.1 billion, telecom
3. Lee Shin Cheng $4.6 billion, palm oil IOI
4. Lee Kim Hua $3.9 billion, gaming Genting and Genting Hong Kong
5. Quek Leng Chan $3.85 billion , Hong Leong Bank
6. Teh Hong Piow $3.8 billion , banking Public Bank
7. Yeoh Tiong Lay $2.5 billion, YTL Corp., conglomerates.
8. Syed Mokhtar Al-Bukhary $1.7 billion , Mining Corp. (MMC), Padiberas Nasional
9. Vincent Tan $1.6 billion , Berjaya GroupStarbucks, Papa Johns Pizza
10.Tiong Hiew King $1.2 billion , timber Rimbunan Hijau
http://skorcareer.com.my/blog/10-great-malaysian-entrepreneurs 2011

William Gates III

Born in Oct. 28, 1955, William (Bill) H. Gates grew

up in Seattle with his two sisters.
In 1973, Gates entered Harvard University as a
freshman. While at Harvard, Gates developed a
version of the programming language BASIC for the
first microcomputer - the MITS Altair.
In his junior year, Gates left Harvard to devote his
energies to Microsoft, a company he had begun in
1975 with his childhood friend Paul Allen.
William (Bill) H. Gates is chairman of Microsoft
Corporation, the worldwide leader in software,
services and solutions that help people and
businesses realize their full potential. Microsoft had
revenues of US$51.12 billion for the fiscal year
ending June 2007, and employs more than 78,000
people in 105 countries and regions.

http://www.microsoft.com/PRESSPASS/EXEC/BILLG/BIO.MSPX

Tan Sri Syed Mokhtar al-Bukhary

A humble entrepreneur, often shying away from publicity and media.

Tan Sri Syed Mokhtar al-Bukhary is the richest Malay and bumiputra
in Malaysia, and has continued to hold the status for a long time.

In his childhood, he found difficulties to do school revision because

of the inadequate house facilities and small space. But that did not
stop him from achieving his current status.

Syed Mokhtar is a great giver; his very first salary received during
his youth was divided by 2 halves one for him, and another for
charity.

http://skorcareer.com.my/blog/10-great-malaysian-entrepreneurs/2008/09/23/

Tony Fernandes

Tony Fernandes is the man behind AirAsias

journey to world domination. With RM1, Tony
bought a defunct carrier, along with over
RM40 million in debts, and created Asias
most successful budget airline company.

From an ailing company deep in financial

trouble, AirAsia went through a remarkable
turnaround and made its first profit merely
after 7 months of operation. From thereon,
they never looked back and created records
after records

http://skorcareer.com.my/blog/10-great-malaysian-entrepreneurs/2008/09/23/

Robert Kuok

Robert Kuok took over his

fathers trading business,
together with two brothers, and
created a business larger than
anyone can think of. The impact
is so great that Kuok has been
sitting on the top of Malaysias rich list
for more than 5 years.

Residing in Hong Kong, Kuok is mostly linked to a sugar business but

also has his hands on other wide range of industries including
hospitality, energy, logistic and manufacturing.

http://skorcareer.com.my/blog/10-great-malaysian-entrepreneurs/2008/09/23/

Loh Boon Siew

The late Tan Sri Loh Boon Siew was the man
responsible to start the dealership of Honda
motorcycles in Penang, hence it does not
come as a surprise when he was often
referred as Mr Honda.

With virtually no education, he arrived in

Penang at a tender age of 12, backed with
little money, and a pinch of determination.
Boon Siew started his job as a mechanic,
before making his way to prominence with
Honda dealership, and in the process, beat
all odds.

http://skorcareer.com.my/blog/10-great-malaysian-entrepreneurs/2008/09/23/

Thank you

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