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ENTREPRENEURSHIPLecture No: 1

BYSabir Malik

ENTREPRENEURSHIPLecture No: 1

BYSabir Malik

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Nature And

Development OfEntrepreneurship

Nature And

Development OfEntrepreneurship

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The Nature and Development

of Entrepreneurship

The word entrepreneur stems from French,means between-taker or go between.

Our definition involves four aspects:

1. The creation process.

2. The devotion of time and effort.

3. The assumption of risk.4. Rewards of independence, satisfaction,

money.

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Entrepreneurship is the process of creatingsomething new with value by devoting the

necessary time and effort, assuming the

accompanying financial, psychic, and social

risks, and receiving the resulting rewards of

monetary and personal satisfaction and

independence.

Entrepreneurship is the process of creatingsomething new with value by devoting the

necessary time and effort, assuming the

accompanying financial, psychic, and social

risks, and receiving the resulting rewards of

monetary and personal satisfaction and

independence.

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Earliest PeriodEarliest Period

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Middle Age &

Entrepreneurship

Middle Age &

Entrepreneurship

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17th Century17th Century

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19th And 20th Centuries19th And 20th Centuries

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Definition OfEntrepreneur TodayDefinition OfEntrepreneur Today

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The Entrepreneurial

Decision Process

The Entrepreneurial

Decision Process

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Entrepreneurial Decision Process

refers to the decision to leave a

present career or lifestyle (to

pursue that big idea) due to:

Unpleasant work environment Disruption

Completion of educational degree.

How will the completion of your educational

program influence your entrepreneurial

decision process? Got any big ideas?

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Types Of Start-upsTypes Of Start-ups

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There are 3 types of startup ventures:

1.A lifestyle firm exists primarily to supportthe owners and usually has little growthopportunity.

2.Foundation companies are firms created

from research anddevelopment that lay thefoundation for a new industry.

3.High powered ventures

(gazelles) are new companiesthat receive the greatest interestand publicity.

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Role Of

Entrepreneurship InEconomic Development

Role Of

Entrepreneurship InEconomic Development

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Product-evolutionProcessProduct-evolutionProcess

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Government As AnInnovator

Government As AnInnovator

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IntrapreneurshipIntrapreneurship

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EntrepreneurshipEntrepreneurship

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Entrepreneurial Careers

And Education

Entrepreneurial Careers

And Education

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The future of entrepreneurship is

assured.

Most U.S. Universities are

offering courses.

Societal support is strong.

Intrapreneurship

(entrepreneurship within

an existing company)

helps large companiesrespond to hyper-

competition.

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Types of skills required

in Entrepreneurship

Types of skills required

in Entrepreneurship

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Types of Skills Required in EshipTypes of Skills Required in EshipTechnical Business

Management

Personal

Writing Planning Inner Control

OralCommunication

DecisionMaking

Risk Taking

Monitoring the

Environment

Human

Relations

Innovative

Using

Technology

Marketing

(Selling)

Change-

oriented

visionary

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Ethics And Social

Responsibility OfEntrepreneurs

Ethics And Social

Responsibility OfEntrepreneurs

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The Future OfEntrepreneurshipThe Future OfEntrepreneurship

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Types Of Start-upsTypes Of Start-ups

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There are 3 types of startup ventures:

1.A lifestyle firm exists primarily to supportthe owners and usually has little growthopportunity.

2.Foundation companies are firms created

from research anddevelopment that lay thefoundation for a new industry.

3.High powered ventures

(gazelles) are new companiesthat receive the greatest interestand publicity.

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Role Of

Entrepreneurship InEconomic Development

Role Of

Entrepreneurship InEconomic Development

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Product-evolutionProcessProduct-evolutionProcess

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Government As AnInnovator

Government As AnInnovator

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IntrapreneurshipIntrapreneurship

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EntrepreneurshipEntrepreneurship

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Entrepreneurial Careers

And Education

Entrepreneurial Careers

And Education

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The future of entrepreneurship is

assured.

Most U.S. Universities are

offering courses.

Societal support is strong.

Intrapreneurship

(entrepreneurship within

an existing company)

helps large companiesrespond to hyper-

competition.

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Types of skills required

in Entrepreneurship

Types of skills required

in Entrepreneurship

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Types of Skills Required in EshipTypes of Skills Required in EshipTechnical Business

Management

Personal

Writing Planning Inner Control

OralCommunication

DecisionMaking

Risk Taking

Monitoring the

Environment

Human

Relations

Innovative

Using

Technology

Marketing

(Selling)

Change-

oriented

visionary

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Ethics And Social

Responsibility OfEntrepreneurs

Ethics And Social

Responsibility OfEntrepreneurs

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The Future OfEntrepreneurshipThe Future OfEntrepreneurship