apkeng1

7/30/2019 apkeng1

1/17

2005 Balanced ScorecardCollaborative 1

BASIC CULTURELIZATION OF

ENTREPRENEURSHIP

TOPIC 1: CONCEPT & DEVELOPMENT OF

ENTREPRENEURSHIPObjectives: Evaluating the importance of the study of

entrepreneurship. Explain the concept of entrepreneur & entrepreneurship. Identify attributes of entrepreneurship.

7/30/2019 apkeng1

2/17


Summarize the development of entrepreneurship inMalaysia.

7/30/2019 apkeng1

3/17

3 2005 Balanced Scorecard Collaborative

CONCEPT & DEVELOPMENT OF

ENTREPRENEURSHIP

Importance of entrepreneurship:

Catalyst for change & growth of national economy-increase rate of per capita product & income, structuralchange of business & society.

Give rise to successful individuals having highly viable &competitive businesses.

Develop & expand a higher level of culture and attributesof entrepreneurship.

7/30/2019 apkeng1

4/17


Entrepreneurs create wealth, encourage wealthdistribution and contribute to economic well-being.

Entrepreneurs will make the nation more competitive,

open employment opportunities and reduce

unemployment & poverty level.

7/30/2019 apkeng1

5/17


CONCEPT OF ENTREPRENEUR &

ENTREPRENEURSHIP

Entrepreneurs:

Pioneer of successful business activities.

Entreprendre To shoulder or try.

Joseph SchumpeterTheory of Economics

Development introduced the term entrepreneur in

1934.Attributes of entrepreneurs, being, unique,

innovative, creative, change agent and novelty.

7/30/2019 apkeng1

6/17


Scarborough & Zimmerer (1998):Creator of new business and ability to face uncertainties &

acquire profits by seizing opportunities through available

resources.

Kuratko & Hodgetts (2007) Identify opportunities whereothers see obstacles and confusion, meticulous, adept at

weighing chances, plans, manages and take on risks as

well as being innovative, profit and growth oriented.

7/30/2019 apkeng1

7/177 2005 Balanced Scorecard Collaborative

ENTREPRENEURSHIP:

Hisrich & Peter (1998):- Dynamic process to create wealth.

- Take on capital risk, time & career commitment.

- Invent something new via taking financial, psychological

and social risks and acquire profits, personal satisfactionand freedom.

7/30/2019 apkeng1


Attributes of entrepreneurship:Kao (1991):

1. Commitment, determination, & strong-willed.

2. Success & Growth oriented.

3. Opportunity & Objective oriented.

4. Initiative & responsible.

5. Continuous decisions.

7/30/2019 apkeng1


6. Realistic7. Search & Use feedback.

8. Internal Locust of control.

9. Calculated risks.

10.Less motivated by power & Status.11.Integrity & trustworthy.

7/30/2019 apkeng1


ISLAMIC PERSPECTIVE:

Mohd Salleh et al., 2005: Attributes;1. High needs & dedication.

2. Right intentions.

3. Knowledgeable & Skillful in Business.

4. Responsible to All.

5. Prudent & Frugal in using resources.

6. Skilled at making decisions.

7. Future focused.

7/30/2019 apkeng1


8. Skilled at communication.9. Quality conscious.

10.Abstain from illegal activities.

11.Avoid excessive debts.

12.Careful & Self-checking.

13.Thankful for succeess.

14.Not spendtrift and Greedy.

15.Always pays debts.

7/30/2019 apkeng1


DEVELOPMENT OF ENTREPRENEURSHIP

Started with Malaccan Sultanate. British Divide & Rule system :

-Malays: Administraors & Farmers.

-Chinese: Miners & Business people.

-Indians: Plantations sector.

After Independence:

- New Economic Policy. (1971-1990)

- National Development Policy. (1990-2000) & Vision2020.

7/30/2019 apkeng1


1995 Creation of Ministry of EntrepreneurialDevelopment to control & promote development of

entrepreneurship.

2005 Changed to Ministry of Malaysian

Entrepreneurial development and Cooperation.

7/30/2019 apkeng1

14/17

WHY ENTREPRENEURS START A BUSINESS

FREEDOM & SATISFACTION

OWN BUSINESS

FILL IN THE TIME

TRY OUT NEW FRUITFUL VENTURE

FINANCIAL AND FREEDOM MOTIVE

MAINTAIN FAMILY BUSINESS

GRAB MARKET OPPORTUNITIES


7/30/2019 apkeng1

15/17

MYTHS IN BUSINESS DEVELOPMENT

THEY ARE CREATORS NOT THINKERS..

ACTUALLY, THEY THINK & PLAN & HAVE ALTERNATIVE PLANNINGS.

THEY ARE BORN NOT MADERESEARCH SAYS THEY CAN BE

TRAINED, FORMED, TAUGHT & LEARNED.

THEY ARE CREATORS AND INVENTORSRAY KROC OWNER OF

MCDONALDS IS NOT INVENTIVE BUT CREATIVE & INNOVATIVE WITH

FRANCHISE MODEL.

THEY ARE DROPOUTS AND NOT ADAPTIVE..ACTUALLY THEY ARE

PROFESSIONALS AND SUCCESSFUL IN ACADEMIC LIFE.


7/30/2019 apkeng1

16/17

THEY ONLY VIEW FINANCIAL IMPORTANCETHEY WANTFINANCIAL INDEPENDENCE TOGETHER WITH MANAGEMENT

SKILLS AND ALSO EXHIBIT SOCIAL RESPONSIBILITY.

IGNORANCE IS AN ADVANTAGE FOR THEM.KEY TO SUCCESS

IS CAREFUL PLANNING RECOGNISING FUTURE PROBLEMSAND STRENGTHS AND WEAKNESSES.

THEY SEEK SUCCESS BUT FAILED MISERABLY..TRUE THAT

THEY FAILED BEFORE SUCCEEDING BUT LIFELONG LEARNING

TO SUCCEED FROM FAILURE.

THEY ARE HIGH RISK TAKERSTHEY MINIMISE THEIR RISK BY

SEEKING & USING RELEVANT INFORMATION.


7/30/2019 apkeng1

17/17


Richard Branson A business has to be involving, it has to be fun, and it has

to exercise your creative instincts.

Documents

apkeng1