CHAPTER 1: INTRODUCTION TO ENTREPRENEURSHIP

Transcription

1 CHAPTER 1: INTRODUCTION TO ENTREPRENEURSHIP

2 LEARNING OBJECTIVE 1. Concept of entrepreneur & entrepreneurship 2. Businessman VS entrepreneur 3. Roles and social responsibility of entrepreneurs 4. Competencies of entrepreneur 5. Successful entrepreneurs in Malaysia 6. E-Business, importance of E-Business, advantages & disadvantages of E-Business types of online marketing communication

3 WHO IS ENTREPRENEUR? French word entreprendre - to undertake or to try First introduced by Richard Cantillon (1775) - a person who undertakes to do a job Kuratko & Hodgetts (2001) - a person who organizes, operates, and assumes the risk for a business venture Adam Smith (1776) a person who acts as agent in transforming demand into supply.

4 DEFINITION Individuals who actively form or lead their own business and nurture the for growth and prosperity.

5 WHAT IS ENTREPRENEURSHIP? A process of seeking, creating and expanding business opportunities Yep Puteh (1989) the ability, capability and tendency to: - identify business opportunities - manage a business - obtain success and wealth - hard work & ready to make changes

6 FIELD OF SCIENCE Attitudes Skills Knowledge Responsible Decision making Environment Initiative Communication Project mgmt Self-Confident Negotiation Accounting Reasonable risk-taker Business mgmt Values Hard workers Technical Culture Goal-setters Problem solving Law Accountable Creative Thinking Management Highy-motivated Marketing Diligence Organization

7 BUSINESSMAN A person who engage in commerce Someone who is employed at usually a profitoriented enterprise, or more specifically, someone who is involved in the management (at any level) of a company

8 BUSINESSMAN VS ENTREPRENEUR BUSINESSMAN Own an enterprise or venture Usually a profit oriented Usually plays safe May be purchased, donated or inherited Generally traditional ENTREPRENEUR Own an enterprise or venture Costumer oriented Bold and ambitious Creates his own idea and realize it as a business An innovator

9 BUSINESSMAN VS ENTREPRENEUR BUSINESSMAN Works for the Company Usually don t have time for their families and love ones Usually distressed and experiences sleepless nights Generally hire people to contribute profit Commonly commit tax evasion to save taxes and increase profit ENTREPRENEUR The Company works for him Shares enough time with their families and love ones Always a happy and enthusiastic businessman Hire people to make their lives better Practice tax avoidance to save taxes and increase profit

10 ROLES & SOCIAL CUSTOMER RESPONSIBILITY NATION SOCIETY COMPETITOR SUPPLIER STAFF

11 ROLES OF ENTREPRENEURS

12 SOCIAL RESPONSIBILITY OF ENTREPRENEUR

13 ENTREPRENEURIAL COMPETENCIES Characteristics possessed by most successful entrepreneur in performing Entrepreneurial functions effectively.

14 1. PERSONAL INITIATIVE The entrepreneur should be able to take actions that go beyond his job requirements and to act faster. He is always ahead of others and able to become a leader in the field of business. Does things before being asked or compelled by the situation. Acts to extend the business into new areas, products or services

15 2. SEIZE OPPORTUNITIES An entrepreneur always looks for and takes action on opportunities Sees and acts on new business opportunities Seizes unusual opportunities to obtain financing, equipment, land, work space or assistance

16 3. ENDURANCE An entrepreneur is able to make repeated efforts or to take different actions to overcome an obstacle that get in the way of reaching goals.

17 4. INFORMATION SEEKER An entrepreneur is able to take action on how to seek information to help achieve business objectives or clarify business problems. Does personal research on how to provide a product or service Seeks information or asks questions to clarify a client's or a supplier's need

18 5. HIGH QUALITY OF WORK An entrepreneur acts to do things that meet certain standards of excellence which gives him greater satisfaction. States a desire to produce or sell a top or better quality product or service Compares own work or own company's work favorably to that of others

19 6. COMMITMENT TOWARDS WORKS AGREEMENTS An entrepreneur places the highest priority on getting a job completed. Makes personal sacrifice or expends extraordinary effort to complete a job Accepts full responsibility for problems in completing a job for customers

20 7. EFFICIENT An entrepreneur places the highest priority on getting a job completed. Makes personal sacrifice or expends extraordinary effort to complete a job Accepts full responsibility for problems in completing a job for customers

21 8. SYSTEMATIC PLANNING An entrepreneur develops and uses logical, step-by-step plans to reach goals. Plans by breaking a large task down into sub-tasks Develops plans that anticipate obstacles Evaluate alternatives

22 9. CREATIVE PROBLEM SOLVING Successful entrepreneur identifies new and potentially unique ideas to achieve his goals. Switches to an alternative strategy to reach a goal Generates new ideas or innovative solutions

23 10. SELF-CONFIDENCE A successful entrepreneur has a strong belief in self and own abilities. Expresses confidence in own ability to complete a task or meet a challenge Sticks with own judgment in the face of opposition or early lack of success

24 11. ASSERTION An entrepreneur confronts problems and issues with others directly. Confronts problems with others directly Tells others what they have to do Reprimands or disciplines those failing to perform as expected

25 12. PERSUASION An entrepreneur can successfully or influence others for mobilizing resources, obtaining inputs, organizing productions and selling his products or services. Convinces someone to buy a product or service Convinces someone to provide financing Convinces someone to do something else that he would like that person to do

26 13. POWER & AUTHORITY An entrepreneur is able to make use of influential people to reach his business goals. Acts to develop business contracts Uses influential people as agents to accomplish own objectives Selectively limits the information given to others

27 SUCCESSFUL ENTREPRENEUR IN MALAYSIA

28 E-BUSINESS Businesses run on the Internet, or utilizing Internet technologies to improve the productivity or profitability of a business. Buying, selling, servicing customers and collaborating with business partners.

29 IMPORTANCE OF E-BUSINESS link internal and external data processing systems more efficiently and flexibly work more closely with suppliers and partners better satisfy the needs and expectations of their customers.

30 ADVANTAGES With the use of e-commerce you can promote your product globally Reduces Time and money spent Gives a competitive advantages Removes Location and availability restrictions Heightens customer service

31 DISADVANTAGES People Time Sector limit Internet technology trust

32 ONLINE MARKETING COMM Online marketing, also known as digital marketing, web marketing, internet marketing, search marketing or e-marketing, is the marketing (generally promotion) of products or services over the Internet.

33 ONLINE MARKETING COMM It also includes marketing done via and wireless media. Digital customer data and electronic customer relationship management systems are also often grouped together under internet marketing

34 TYPE OF ONLINE MARKETING COMM DIRECT MARKETING TYPE PUBLIC RELATIONS ONLINE CATALOGUE

35 DIRECT MARKETING Direct marketing is a form of advertising that reaches its audience directly through multiple channels including , direct mail, social media, catalogs, online advertising, interactive television, etc.

36 DIRECT MARKETING Businesses communicate straight to the consumer with advertising techniques such as fliers, catalog distribution, promotional letters, and street advertising.

37 ONLINE CATALOGUE What is E-catalogue? E-Catalogue is an innovative and effective technique to promote or advertise the product range of a company. It is a Digital Brochure of information on products (with images and salient features mentioned) that are offered by an organization.

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41 BENEFITS Saves printing and distribution costs associated with print media. Your products can be accessible anywhere in international market place. Easy to distribute - via the Web, , floppy or CD-ROM.

42 BENEFITS Outstanding for viral marketing as it can be passed on easily by . Recipients of the catalogue can store, view, and interact with its content off-line. Can be upgraded easily on timely basis Permanent information is read-only

43 PUBLIC RELATIONS Public relations (PR) is a field concerned with maintaining a public image for businesses, non-profit organizations or high-profile people, such as celebrities and politicians.

44 Continue Others define it as the practice of managing communication between an organization and its publics Common activities include speaking at conferences, working with the media, crisis communications, social media engagement, and employee communication.

45 ONLINE PR It encompasses social media and other channels for communication and many platforms for communication such as personal computers (PCs), mobile phones and video game consoles with Internet access.

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