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Entrepreneurship Lecture No: 1 BY Sabir Malik

The document discusses the nature and development of entrepreneurship. It defines entrepreneurship as the process of creating something new with value by devoting time and effort while assuming financial and other risks, and receiving rewards such as monetary satisfaction and independence. The document outlines the earliest periods of entrepreneurship and how it developed through the 17th, 18th, 19th and 20th centuries. It also discusses the entrepreneurial decision process, types of startups, the role of entrepreneurship in economic development, and skills required to be an entrepreneur.

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54 views

Entrepreneurship Lecture No: 1 BY Sabir Malik

The document discusses the nature and development of entrepreneurship. It defines entrepreneurship as the process of creating something new with value by devoting time and effort while assuming financial and other risks, and receiving rewards such as monetary satisfaction and independence. The document outlines the earliest periods of entrepreneurship and how it developed through the 17th, 18th, 19th and 20th centuries. It also discusses the entrepreneurial decision process, types of startups, the role of entrepreneurship in economic development, and skills required to be an entrepreneur.

Uploaded by

naveedyounus
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
You are on page 1/ 38

ENTREPRENEURSHIP

Lecture No: 1
BY
Sabir Malik
Nature And
Development Of
Entrepreneurship
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.
Entrepreneurship is the process of creating
something 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.
Earliest Period
Middle Age &
Entrepreneurship
17 Century
th
18 Century
th
19 And 20 Centuries
th th
Definition Of
Entrepreneur Today
The Entrepreneurial
Decision Process
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’?
Types Of Start-ups
There are 3 types of startup ventures:
1.A lifestyle firm exists primarily to support
the owners and usually has little growth
opportunity.
2.Foundation companies are firms created
from research and
development that lay the
foundation for a new industry.
3.High powered ventures
(“gazelles”) are new companies
that receive the greatest interest
and publicity.
Role Of
Entrepreneurship In
Economic Development
Product-evolution
Process
Government As An
Innovator
Intrapreneurship
Entrepreneurship
Entrepreneurial Careers
And Education
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 companies respond
to hyper-competition.
Types of skills required
in Entrepreneurship
Types of Skills Required in E’ship
Technical Business Personal
Management
Writing Planning Inner Control

Oral Decision Risk Taking


Communication Making

Monitoring the Human Innovative


Environment Relations

Using Marketing Change-


Technology (Selling) oriented
visionary
Ethics And Social
Responsibility Of
Entrepreneurs
The Future Of
Entrepreneurship
Types Of Start-ups
There are 3 types of startup ventures:
1.A lifestyle firm exists primarily to support
the owners and usually has little growth
opportunity.
2.Foundation companies are firms created
from research and
development that lay the
foundation for a new industry.
3.High powered ventures
(“gazelles”) are new companies
that receive the greatest interest
and publicity.
Role Of
Entrepreneurship In
Economic Development
Product-evolution
Process
Government As An
Innovator
Intrapreneurship
Entrepreneurship
Entrepreneurial Careers
And Education
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 companies respond
to hyper-competition.
Types of skills required
in Entrepreneurship
Types of Skills Required in E’ship
Technical Business Personal
Management
Writing Planning Inner Control

Oral Decision Risk Taking


Communication Making

Monitoring the Human Innovative


Environment Relations

Using Marketing Change-


Technology (Selling) oriented
visionary
Ethics And Social
Responsibility Of
Entrepreneurs
The Future Of
Entrepreneurship

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