OFPS Entrepreneurship 3e: © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1 - 1

OFPS Entrepreneurship 3e All Rights Reserved
© Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 1

1
Chapter
INTRODUCTION TO
ENTREPRENEURSHIP
Overview

Example

Example

DEFINITIONS: ENTREPRENEUR
& ENTREPRENEURSHIP
 Entrepreneur
– An individual who ‘undertakes’ the risks of a new
enterprise.
 Entrepreneurship
– The process of seeking business opportunities under
conditions of risk.
– Also refers to the process of creating something using new
methods.

CHARACTERISTICS OF
ENTREPRENEUR (A.S.K)
Attitude Skills Knowledge

Motivated Decision making Law
Confidence Problem solving Management
Initiative Negotiation Economics
Responsibility Communication Accounting
Risk taking Creativity Values
Diligence Teamwork Business
Mental & Physical Management Culture
fitness
Information seeking Technical Project management

 According to Yep Putih (1989), entrepreneurship is the
ability, capability, and tendency to perform the following
activities:
1. Identify business opportunity .
2. Manage a business effort which brings profit to the entrepreneur
and the public.
3. Obtain successful and richness by fulfilling the society’s needs
and taking calculated risks.
4. Manage and utilize the factors of production to bring economical
development and enhance social welfare.
5. Work hard and be prepared to make new changes that can
increase production quantity and quality from time to time.

ENTREPRENEUR AND BUSINESSMAN
“All entrepreneur are businessman but NOT all

businessman are entrepreneurs”

DIFFERENCES BETWEEN AN ENTREPRENEUR
AND A SMALL BUSINESSMAN
Characteristic Entrepreneur Small businessman

Time Unlimited Limited
Job nature Flexible Rigid in adapting to
changes
Decision making Makes own decisions Follows decisions made
by others
Effort and commitment Continuous Low
Risk taking Moderate Low
Goal Maximizes self potential Solely for profit
by utilizing available maximization
opportunities

TYPES OF ENTREPRENEURS
Intrapreneur
An intrapreneur is an
entrepreneur within a large
organization with high
entrepreneurial characteristics
who strongly believes in his
talent and ability and has
strong desire to create
something using his own
initiative and creativity.

Technopreneur
Technopreneurs are
entrepreneurs who are into the
core businesses involving
technology-based industries.
They make use of technology to
come out with new or
innovative products through a
process of commercialization.

Copreneurs
An individual or a group of
individuals in association
with an existing organization
that creates a new
organization or instigate a
renewal or innovation within
organization.
The organization teaches
managers to be
entrepreneurs.
Social Entrepreneurs
A social entrepreneur is someone who recognizes a social
problem and uses entrepreneurial principles to organize,
create and manage venture to make social change.

Cyberpreneur
An entrepreneurs who makes money
by selling products through the
internet and who has an online-
based business on the internet
targets international consumers.
Do not need office or extensive support
staff all over the world. They just
need a great idea and good
connection to the internet.

COMPETENCIES OF SUCCESSFUL
ENTREPRENEURS
13 entrepreneurial competencies possessed by successful

entrepreneurs (McClelland and McBer & Co ,1980s) :
Personal initiative
Seize opportunities
Endurance
Information seeker
High work quality
Commitment towards work agreement
Efficient
Systematic planning
Creative problem solving
Self confidence
Assertion
Persuasion
Power and authority

THE RISKS OF BEING AN
ENTREPRENEUR
 Uncertainty of income
 Risk of losing entire
investment
 Long hours and hard work
 High stress level
 Difficulty in obtaining
customers
 Complete responsibility
 Difficulty in obtaining loans
 Discouragement
CHARACTERISTICS OF
SUCCESSFUL ENTREPRENEURS
 Able to identify opportunities
 Action-oriented
 Always seeking to improve
 Orientate themselves to customers’ needs
 Value their employees
 Able to face reality
 Able to tolerate tedium (routineness, boredom)
 Able to rebound from disappointments
 Risk takers
 Locus of control
 Independent and in control
IMPORTANCE OF
ENTREPRENEURSHIP
 Self development
 Oppurtunity to control direction in life
 Oppurtunity to maximize self potential
 Oppurtunity to obtain unlimited financial rewards
 Family development
 Increases family income
 Raises living standard
 Improves social status
IMPORTANCE OF
ENTREPRENEURSHIP
 Society/community development
 Improves the standard of living and lifestyle of the
society
 Opportunity to contribute to society
 Fulfils society’s need and wants
 Creates choices through innovative and creative
production techniques

IMPORTANCE OF
ENTREPRENEURSHIP
 National development
 Produces new products of high quality
 Creates large-scale job opportunities
 Generates income for economy
 Backbone of heavy industries
 Spiritual development
 Opportunity to put religious/spiritual faith into
practice
 Opportunity to continuously perform religious
obligation
CHARACTERISTICS OF
ISLAMIC ENTREPRENUERSHIP

SUCCESFUL ENTREPRENEURS
IN MALAYSIA

DISCUSSION
(5 Students for each group)
 Great business mentors can have an enormous impact on early-stage
startups. Their connections can open doors that would otherwise be closed
and their experiences can save entrepreneurs from suffering from the
same startup mistakes they've already made. But finding the best mentor
for your business isn't as simple as picking a name from a hat. You'll need
to be able to recognize what makes a great mentor, know how to approach
one and then how to maximize the relationship. For this discussion, you
should to choose one of the successful entrepreneur that you admire and
your write-up consists of:
 Mentor’s Profile
 Reasons why you choose him/her as a mentor
 Characteristics of successful entrepreneur
 Challenges and problems that him/her faced in entrepreneurship
 Contributions to society and country


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OFPS Entrepreneurship 3e All Rights Reserved

© Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 1

OFPS Entrepreneurship 3e All Rights Reserved

OFPS Entrepreneurship 3e All Rights Reserved

OFPS Entrepreneurship 3e All Rights Reserved

OFPS Entrepreneurship 3e All Rights Reserved

Attitude Skills Knowledge

OFPS Entrepreneurship 3e All Rights Reserved

OFPS Entrepreneurship 3e All Rights Reserved

“All entrepreneur are businessman but NOT all

OFPS Entrepreneurship 3e All Rights Reserved

Characteristic Entrepreneur Small businessman

OFPS Entrepreneurship 3e All Rights Reserved

OFPS Entrepreneurship 3e All Rights Reserved

OFPS Entrepreneurship 3e All Rights Reserved

OFPS Entrepreneurship 3e All Rights Reserved

OFPS Entrepreneurship 3e All Rights Reserved

13 entrepreneurial competencies possessed by successful

OFPS Entrepreneurship 3e All Rights Reserved

OFPS Entrepreneurship 3e All Rights Reserved

OFPS Entrepreneurship 3e All Rights Reserved

OFPS Entrepreneurship 3e All Rights Reserved

OFPS Entrepreneurship 3e All Rights Reserved

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