Chapter 1_Theories_ Concepts and Islamic Ent

7/24/2019 Chapter 1_Theories_ Concepts and Islamic Ent

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THEORIES &CONCEPTSON ENTREPRENEURSHI


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THEORIES &CONCEPTS ON

ENTREPRENEURSHIPSession Objectives

At the end of the session, students should beable to:

unde stand the va ious theo ies and conce!ts

on ent e! eneu shi! have a dee!e unde standin" of the

disci!line of ent e! eneu shi!


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THEORIES & CONCEPTS

ON ENTREPRENEURSHIP#efinition of an Ent e! eneu :

$ An ent e! eneu is a !e son %hounde ta&es to do a job ' Richa d (antillon)1*++ - The te m ent e! eneu is a . ench

%o d fi st coined b/ Richa d (antillon- n ala/sia the te m $usaha%an' is used

fo ent e! eneu -


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#efinition of an Ent e! eneu : $Ent e! eneu s a e individuals %ho activel/

fo m o lead thei o%n businesses andnatu e them fo " o%th and ! os!e it/')Adnan, 200


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#efinition of Ent e! eneu shi!:

$Ent e! eneu shi! is a ! ocess of c eatin" ande !andin" businesses that collectivel/ fo m a fo cefo national develo!ment and societal ! os!e it/'-

Ent e! eneu shi! involves not onl/ the ! ocess thatleads to the settin" u! of a business entit/ but also thee !ansion and develo!ment of an on "oin" conce n-

The stud/ of ent e! eneu shi! is conce ned %ith theent e! eneu ial behavio , the d/namics of business setu! and e !ansion and develo!ment-


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THEORIES & CONCEPTS

ON ENTREPRENEURSHIP Adam Smith )1**4 5 An ent e! eneu is a

!e son %ho acts as a"ent in t ansfo min"demand into su!!l/- 6ean 7abtiste Sa/ )1803 5 An ent e! eneu

is a !e son %ho shifts esou ces f om ana ea of lo% ! oductivit/ to hi"h ! oductivit/-


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THEORIES & CONCEPTSON ENTREPRENEURSHIP

6ose!h Alo/sius Schum!ete )193 5 Anent e! eneu is an innovato - The econom/ movesth ou"h lea!s and bounds and the ! ime move is

the ent e! eneu th ou"h the ! ocess of c eativedest uction- Alf ed a shall )1934 5 The ! ocess of

ent e! eneu shi! o business develo!ment isinc emental o evolutiona / - t evolves f om sole

! o! ieto shi! to a !ublic com!an/-


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THEORIES & CONCEPTSON ENTREPRENEURSHIP

bnu haldun )Abdul Rahman ohamedhaldun 5 The ent e! eneu is seen as a

&no%led"eable individual and is inst umental inthe develo!ment of a cit/5state %he e ente ! ise%ill eme "e-

#avid c(lelland 5 The ent e! eneu is a !e son %ith a hi"h need fo achievement- Thisneed fo achievement is di ectl/ elated to the

! ocess of ent e! eneu shi!-


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Evans )19+* ; ent e! eneu dete mines t/!e of business,decides on t/!es of ! oducts, ta "et ma &et< objective of business

5 ma/ dele"ate functions to attaint objectivesto mana"e s

5 oles as a mana"e can be dele"ated but notoles as an ent e! eneu =s


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POSITION OF BUSINESS ANDENTREPRENEUR

ISLAMIC ENTREPRENEURSHIP MODEL

Islam Proposed(Business Venture

!lla" Prepared(#a$ilities

Islam Outlined(Rules and Re%ulation

!lla" Promised(Re ard

E

'!

P

)E

E'!

P

)E


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ISLAMIC ENTREPRENEURSHIP

EIGHT PRINCIPLES OF THOUGHTS :-

Integration Human Nature Moti ation I!a"a# Po$ition o% Bu$ine$$ an"

Entre&reneur$#i& S'$tem Gui"e(ine$ E)em&(ar' Con"u*t$


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INTEGRATION I$(am i$ a *om&(ete +a' o% (i%e,T#ere i$ no

$e&aration !et+een !u$ine$$ an" re(igion,I$(am #a$ it$ o+n entre&reneur$#i& *u(ture,

HUMAN NATUREB' irtue o% t#e #uman nature t#e &er$onmu$t %ir$t(' !e a Mu$(im t#en an entre&reneur,He #a$ t#e re$&on$i!i(it' to &er%orm ibadah an" !e a khalifah , Mu$(im entre&reneur$#ou(" $ear*# %or Go".$ !(e$$ing$ a!o e a((ot#er %a*tor$, A Mu$(im entre&reneur &er%orm!u$ine$$ not $o(e(' %or &ro%it !ut a!o e a(( to%u(%i(( t#efardhu kifayah ,


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MOTI/ATION

T#e $u**e$$%u( &at# an" mean$ %ora*#ie ing $u**e$$ %or entre&reneur$ areuni0ue, Su**e$$ in I$(am i$ not mere('

mea$ure" !' t#e en" re$u(t !ut a($ot#e mean$ an" +a'$ o% a*#ie ing t#em,

T#e &ur$uit o% +ea(t# mu$t !ea**om&anie" !' intention mean$management an" u$age a$ $ti&u(ate" !'I$(am


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POSSESSION OF 1EALTH ISALLO1ED BASED ON THEFOLLO1ING PRINCIPLES:-

A((a# $,+,t i$ t#e a!$o(ute o+nero% +ea(t#

A((a# *reate" +ea(t# ina!un"an*e an" $u%%i*ient %or a((

1ea(t# i$ *reate" %or man2in"

1ea(t# i$ entru$te" to man2in"


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SE/EN STEPS TO1ARDS A SUCCESS INLIFE ACCORDING TO IMAM

AL-GHA8ALI

Stage o% 9no+(e"ge Stage o% Re&entan*e 5 Taubat) Stage o% Tem&tation Se"u*tion Stage o% O!$ta*(e$ Stage o% Moti ation Stage o% Han"i*a& or Im&er%e*tion$ Stage o% Prai$e an" T#an2%u(ne$$


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IBADAH

In I$(am in o( ing in!u$ine$$ i$ &art o% ibadah t#roug# t#e %u(%i(ment o%

fardhu kifayah.


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S3STEM

I$(ami* Entre&reneur$#i&$#ou(" !e in t#e %rame+or2 o%I$(ami* E*onomi* S'$tem an"$#ou(" a$$i$t in e$ta!(i$#ing

t#e I$(ami* E*onomi* S'$tem


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GUIDELINES

Gui"e(ine$ %or I$(ami*Entre&reneur$#i& a*ti itie$

are +i"e an" *om&re#en$i e,


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MUSLIM ENTREPRENEURSHIP ETHICS

To prevent laziness To eradicate fear To search for legitimate ventures

To avoid forbidden sources of incomeand property To show gratitude and thankfulness of

whatever has been acquired To grow and develop capital and profit To diversify business ventures To avoid greediness


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MUSLIM ENTREPRENEURSHIP ETHICS

To avoid malicious behavior To avoid squandering To avoid stinginess To pay alms (zakat) Trustworthy To pray consistently

Tawakkal Patience Qanaah


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E;EMPLAR3 CONDUCTS OF GOOD MUSLIMENTREPRENEURS DURING THE PROPHET

MUHAMMAD S,A,1 REIGN Bu$ine$$ i$ $e*on"ar' +#en !eing *a((e"

%or ot#er %orm o% *ru$a"e

A oi" u$ing in%(uen*e %or $e(% intere$t

A%rai" o% a**umu(ate" +ea(t#

Lea"er$#i& 0ua(itie$ in a(( a$&e*t$

Pra*ti*e mo"erate +a' o% (i%e

Chapter 1_Theories_ Concepts and Islamic Ent

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