credit to respective lecturer

1. www.polisas.edu.my
ENTREPRENEURSHIP (PB201)
CHAPTER 1
INTRODUCTION
TO
ENTREPRENEURSHIP

2. Topic outlines
Explain Entrepreneurship
Discuss PersonalTraits / Behavior AssociatedWith
Successful Entrepreneur Performance
Discuss On Malaysian Successful Entrepreneurs
Understand E Business

3. ABOUT ENTREPRENEURSHIP
A society that has entrepreneurs is considered to be a
successful society.This is because entrepreneurs are
individuals who are creative, dynamic and innovative.
They are willing to take risks and face unpredictable and
uncertain challenges by using their creativity and will
power.
Entrepreneurs would develop and penetrate new business
areas in order to stay competitive in the industry.Then,
more products or services being offered to the society,
which would enhance the society’s economic
development.

4. DefineThe Concept of
Entrepreneur
The term has been given various definitions by management
scholars and practitioners.
It is derived from the French word entreprendre which means
‘to undertake or to try’. (Richard Cantillon, 1775).
It also refers to a person who undertakes and operates a new
enterprise or venture, and assumes accountability for the
inherent risks.

5. DefineThe Concept of
Entrepreneur
An entrepreneur refers to an individual who establishes a business
and manages it to obtain profit and to be successful (Carland).
(Kuratko & Hodgetts), an entrepreneur is an individual who
organizes, manages, and assumes the risks of a business.
An entepreneur is an individual who creates a new business in the
face of uncertainty for the purpose of achieving profit and growth by
identifying and capitalizing opportunities and assembling the
necessary resources to capitalize on the identified opportunities
(Zimmerer and Scarborough).

6. DefineThe Concept of
Entrepreneur
The dictionary defines an entrepreneur as an individual who
manufactures industrial products or conducts a business on a big
scale.
Webster’s dictionary, an entrepreneur is an individual who manages
an economic activity, specifically in sponsoring, owning, managing,
and bearing the risks of a business.
The Encyclopedia Americana defines an entrepreneur as a
businessman who takes risks to combine the factors of production
such as capital, labour, and raw materials and accepts the rewards
through the profits made by the market value of his products.

7. DefineThe Concept of
Entrepreneur
In 1970s, after the New Economic Policy (NEP), then
entrepreneur was widely used in Malaysia.
Common definition, “someone who establishes a new entity to
offer a new or existing product/service into a new or existing
market, whether it is for a profitable or a non-profitable
outcome. An entrepreneur is an individual who is able to
perceive an opportunity for a business and create an
organization to develop and manage that business successfully.
He is able to identify and seize the opportunity and bring in the
necessary resources such as finance, workforce, and raw
materials to develop and market the products or services. He
takes proper action that is imaginative, creative, and
innovative”.

8. DefineThe Concept of Entrepreneurship
Entrepreneurship is the process of seeking businesses
opportunities under conditions of risk.
“Entrepreneurship also refers to the process of creating
something new of value by devoting the necessary time
and effort, assuming the accompanying financial,
physical, and social risks, and receiving the resulting
rewards of monetary, personal satisfaction, and
independence”.

9. DefineThe Concept of
Entrepreneurship
According toYep Putih, entrepreneurship is the ability,
capability, and tendency to perform the following activities:
i. Identify business opportunities.
ii. Manage a business effort which brings profit to the entrepreneur
and the public.
iii. Obtain success and richness by fulfilling the society’s needs.
iv. Take calculated risks.
v. Manage and utilize the factors of production to bring economical
development and enhance social welfare.
vi. Work hard and be prepared to make new changes that can increase
production quantity and quality from time to time.

10. DefineThe Concept of
Entrepreneurship
An individual’s preparedness to grab opportunities without
considering the resources at hand (Stevenson, Roberts and
Grousbeck).
(Dollinger) defined entrepreneurship as the establishment of an
economical firm that is innovative, profit oriented, willing to take
risks, and face uncertainties in the environment.
As a conclusion, entrepreneurship benefits the entrepreneur, the
economy and the society. It is a process that creates and manages a
business to achieve the entrepreneur’s desired goals.

11. Let'sThink…..
Entrepreneurs have to have objectives and targets but these are subservient to the
ultimate objective of acquiring the blessings of Allah s.w.t. In Islam, to indulge in
business is to perform an obligatory duty (fardhu kifayah); unless & until there is an
entrepreneur in a community, the entire community is deemed to be sinful!
That’s how seriously Islam perceives & encourages entrepreneurship. Profits are merely
incidental in the fulfillment of the fardhu kifayah. But that does not imply weakened
profit motivation among practitioners.
Profits are encouraged in order to prosper the community through donations, taxes,
tithes & the like.With ubudiah (state of servitude before God) & tauhid (oneness of
God), risk taking becomes a guided endeavour; regardless of the outcome the
entrepreneurial Muslim will always be humble & redha (contented with what God has
given).
In contrast to the Western concept of the Islamic Man.
(Adnan et al., 1992, pp. 32-36)

12. Attitude, Skills and Knowledge Required
by Entrepreneurs
ATTITUDE SKILLS KNOWLEDGE
Motivation Decision making Law
Confidence Problem solving Management
Initiative Negotiation Economics
Responsibility Communication Accounting
Risk-taker Creativity Values
Diligence Team work Business
Mental & physical fitness Management Culture
Information-seeker Technical Project management

13. EntrepreneursVs
Businessman
An entrepreneur is an individual who seeks profitable opportunities
and takes the necessary risks to establish and operate a business.
A businessman main desire is to grow his business.
A manager is responsible for using the organization’s resources to
accomplish the organization’s goals.
So… all entrepreneurs are businessmen BUT not all businessmen are
entrepreneurs.

14. Differentiate Entrepreneur and
Businessman
CHARACTERISTICS ENTREPRENEUR BUSINESSMAN
Time Unlimited Limited
Nature of job Flexible Rigid in adapting to
changes
Decision making Makes own decision Follows decision made by
others
Effort and commitment Continuous L ow
Risk taker Moderate Low
Goal Maximize s self potential
by utilizing available
opportunities
Solely for profit
maximization

15. Roles and Social Responsibilities of Entrepreneur
i. Customers
ii.Society / community
iii.Suppliers
iv.Staff
v. Competitors
vi.Nation

16. PERSONAL TRAITS: COMPETENCIES
OF ENTREPRENEURSHIP
‘Entrepreneurial competencies’ refers to key characteristics
possessed by successful entrepreneurs in performing
entrepreneurial function effectively. Entrepreneurial
competencies can be observed from the entrepreneur’s
attitude, internal life values or his/her insistence to perform
with excellence.
McClelland and McBer & Co. conducted a research on
successful entrepreneurs at Malawi, India, and Ecuador. As a
result, they listed 13 entrepreneurial competencies possessed
by successful entrepreneur.

17. 13 Competencies of
Entrepreneurship
i. Personal initiative
ii. Seize opportunities
iii. Endurance
iv. Information-seeker
v. High work quality
vi. Commitment towards work agreements

18. 1.2.1 13 Competencies of
Entrepreneurship
vii. Efficient
viii.Systematic planning
ix. Creative problem solving
x. Self confidence
xi. Assertion
xii. Persuasion
xiii.Power and authority

19. Successful Entrepreneurs in
Malaysia
•Assessment can be given to students by case
study. Students may find good sources of
outstanding entrepreneurs in Malaysia.

20. Cerita-cerita individu yang berjaya di Malaysia…
TAN SRI MOKHTAR ALBUKHARY
Pengerusi & Pengasas YAYASAN ALBUKHARY
• Berasal dari Kedah, merupakan anak
seorang peniaga lembu.
• Orang ke-7 terkaya di Malaysia.
• Tidak tamat sekolah menengah
kerana
desakan hidup.
• Menyumbang banyak pendapatannya
kepada masyarakat dan kebajikan.
• Hidup yang terlalu sederhana, tak
suka
publisiti.
• Kuat prinsip :
Kejujuran menjadi asas, tolong-
menolong menjadi pegangan.
INDIVIDU BERMOTIVASI TINGGI

21. Cerita-cerita individu yang berjaya di Malaysia…
TAN SRI LIM GOH TONG
Presiden Kehormat & Pengasas GENTING BERHAD
• Lebih dikenali sebagai Uncle Lim.
• Orang ke-4 terkaya di Malaysia.
• Merantau dari Fujian, China ke
Malaya
pada 1937.
• Tak berpendidikan, tak tahu
membaca dan
menulis dan tak fasih berbahasa
melayu.
• Semua anak mempunyai pendidikan
tinggi.
• Kuat prinsip :
Apa yang kita fikir untuk buat,
kena buat sampai berjaya walau
apa rintangan yang ada.
INDIVIDU BERMOTIVASI TINGGI

22. UNDERSTAND E-BUSINESS
Entrepreneur involve in e-business also known as
cyberpreneur.
A cyberpreneur is someone who is starting or
running a business in cyberspace and the
internet. An entrepreneur who has an online
based business on the internet targets
international consumers.These cyberpreneurs
do not need offices or extensive support staff all
over the world.They just need a great idea and a
cable to connect to the internet.

23. Define e-Commerce
 How about your answer?
 Have you done before?

24. The Importance of e-Business
i. Attracts a large number of customers – customer all over
the world.
ii. The company can be visited without time restrictions –
24hrs / 7days throughout the year without encountering
different time zones.
iii. Gives an image of a well-established company – to obtain
customers’ confidence when dealing with the company.
iv. Minimizes management costs – min the management
costs such as phone bill, fax, transportation etc.
v. Disseminates business information – help to spread
business information to individuals within the company
and parties outside the company.
vi. Reduces the size of filling – save storage space in filing
documents; files can be saved in the form of softcopy and
stored in computer systems.

25. The Importance of e-Business
At the same time,
entrepreneurs can enjoy various facilities such as electronic
mail, online forums, chat rooms, and information bargains
through the library catalogue. Businesses will be able to
store, retrieve, create, and display information through the
server.
By using e-business, companies can send out information to
millions of people.
By surfing website at any time without having to go out from
the building, entrepreneurs can obtain feedback and improve
business operations.
The cost of communication will reduce.

26. Advantages & Disadvantages of e-
Business
• Lecturers may ask students to discuss with their
members the advantages and disadvantages of e-
business.

27. Identify Online Marketing
Communication
i. Direct email marketing
ii. Online catalogue
iii. Public relations

28. THANKYOU …