L1 - Introduction to Entrepreneurship New

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Is a process of creating and expanding businessesthat collectively form a force for nationaldevelopment and societal prosperity (UiTM)

An entrepreneurship is a business that is started and ledby the entrepreneur; the leader champion with certainqualities and characteristics that most managers may notpossess.

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The entrepreneur are individual whoactively form or lead their own businesses and nurture them for

growth and prosperity.

The entrepreneur must be a good leader

and not only a good manager

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Rationality and objectivity, realistic expactation ability toplan carefully, managerial competence, suitablepersonality, emotional stability (Mayers and Goldstein,1961)Drive and energy, self confidence, long terminvolvement, money as a measure, persistent problemsolving, goal setting, moderate risk-taking, dealig withfuture, use of feedback, taking initiative and seekingpersonal responsibility, ext (Timmons, Smollen and

Dingee, 1977)Good health, never ending sense of urgency, realistic,comprehensive awareness, objective approach torelationship, ext(Welsh and White, 1983)

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Not every person who starts a business has themission of making a lot of money and growing it toa world-class business.Some just want a simple balanced life-style while

doing the kind of work they enjoy doing.Business writer Michael LeBoeuf calls such business owners Micropreneurs Many micropreneurs are small home-based businessowners who are trying to combine career andfamily.

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Intrapreneurship is the process by whichindividuals pursue a new businessopportunity (or by setting up intraprises )from within an existing company, withresources of that company.It uses the advantages of both small and bigscale business. In board sense,

intrapreneurship refers to all kinds/forms ofsemi-autonomy and semi-responsibilitywithin corporations.

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In 1978, management consultant, Gifford Pinchot,invented the word intr preneur to refer to an intra-corporate entrepreneur while he was attending theSchool for Entrepreneurs in Tarrytown, New York.

A person within a large corporation who takesdirect responsibility for turning an idea into aprofitable finished product through assertive risktaking and innovation.

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Entrepreneur who uses technology to be involved in business activities.From the words;

Techno logy+ = Technopreneur

Entre preneur

The role of scientist/engineers entrepreneur or socalled technopreneur is to effectively move atechnology invention from concept to market

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Technopreneur is coined just a couple of years back torefer to Technology Entrepreneur .This term appears to be most actively used in Singapore,and to some extent also in Malaysia and Thailand. Technopreneurs are the ones who identify the problems and

capitalized on the opportunity.A technopreneur has two major characteristics:

1. He does things NOT out of profits but because hewants to innovate.

2. He is comfortable working with, or, using technology.

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TECHNOPRENEUR= Today + Future = Vision

ex. Bill Gates = Technopreneur

ENTREPRENEUR= Product + Market = Profits

ex. Michael Dell = Entrepreneur

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1. Opportunity Scanning2. Opportunity Seizing3. Business IdeaFormulation

4. Business Information Processing5. Business Conceptualising or embryonic

venturing6. Resources pooling and strategising7. Formalising venture creation8. Operationalising the venture

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12IPO : Initial Public Offering; M A :mergers acquisitions

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Creating vision, direction, goalsCommunicating with followersMotivating and empowering

Affirming/reaffirming valuesAligning people achieving workable unityServing as a symbolManagement of thrust

Management of Self

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ENTREPRENEUR TECHNOPRENEUR

Likes to compete Self-starter Able to do many things at once Is creative, and has dreams and

goals Likes to work for him/herself

and be in control Is motivated by a strong desire

to achieve and attain financialsuccess

Focuses his/her attention on thechances of success rather thanthe possibility of failure

Likes to innovatePart of a team

Able to do many things at once, butchooses to delegate

Is innovative and has a grater vision

Likes to be the one to controlinnovation and be part of an evolution

Is motivated by a strong vision and his

passion to innovateTake failure in stride and knows it willlead to success if correction can bemade

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L1 - Introduction to Entrepreneurship New

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