Entrepreneurship 
entrepreneurship
What is entrepreneurship?
Entrepreneurs
– Risk-taking individuals who take actions to pursue opportunities and situations others may fail to recognize or may view as problems or threats. Entrepreneurship
– Strategic thinking and risk-taking behavior that results in the creation of new opportunities for individuals and/or organizations.
2
What is entrepreneurship?
Entrepreneurs are …
– Founders of businesses that become large-scale enterprises. – People who introduce a new product or operational change in an existing organization.
3
An Entrepreneur…
… takes on the risk of starting their own enterprise or investing in other start-ups. Successful entrepreneurs are known for…
… Finding innovation and market gaps for new products and services. What is entrepreneurship?
Typical entrepreneurial backgrounds and
experiences:
– Parents were entrepreneurs or self-employed.
– Families encouraged responsibility, initiative and independence. – Have tried more than one business venture.
– Have relevant personal or career experience.
– Become entrepreneurs between 22 and 45 years of age.
– Have strong interests in creative production and enterprise control.
– Seek independence and sense of mastery.
6
What is entrepreneurship?
Typical characteristics of entrepreneurs:
– Internal locus of control
– High energy level
– High need for achievement
– Tolerance for ambiguity
– Self-confidence
– Passion and action-orientation
– Self-reliance and desire for independence
– Flexibility
7
David McClelland characterized high achievers/ entrepreneurs as possessing these traits:
– Preference for moderate risk (risk eliminators)
– Desire for responsibility
– Confidence in their ability to succeed
– Desire for immediate feedback
– High level of energy
– Future orientation
– Skill in organization
– Value of achievement over money
Entrepreneurial capacities
An entrepreneur should have or build the capacity to: a)exhibit entrepreneurial behaviour for
What is entrepreneurship?
Entrepreneurs
– Risk-taking individuals who take actions to pursue opportunities and situations others may fail to recognize or may view as problems or threats. Entrepreneurship
– Strategic thinking and risk-taking behavior that results in the creation of new opportunities for individuals and/or organizations.
2
What is entrepreneurship?
Entrepreneurs are …
– Founders of businesses that become large-scale enterprises. – People who introduce a new product or operational change in an existing organization.
3
An Entrepreneur…
… takes on the risk of starting their own enterprise or investing in other start-ups. Successful entrepreneurs are known for…
… Finding innovation and market gaps for new products and services. What is entrepreneurship?
Typical entrepreneurial backgrounds and
experiences:
– Parents were entrepreneurs or self-employed.
– Families encouraged responsibility, initiative and independence. – Have tried more than one business venture.
– Have relevant personal or career experience.
– Become entrepreneurs between 22 and 45 years of age.
– Have strong interests in creative production and enterprise control.
– Seek independence and sense of mastery.
6
What is entrepreneurship?
Typical characteristics of entrepreneurs:
– Internal locus of control
– High energy level
– High need for achievement
– Tolerance for ambiguity
– Self-confidence
– Passion and action-orientation
– Self-reliance and desire for independence
– Flexibility
7
David McClelland characterized high achievers/ entrepreneurs as possessing these traits:
– Preference for moderate risk (risk eliminators)
– Desire for responsibility
– Confidence in their ability to succeed
– Desire for immediate feedback
– High level of energy
– Future orientation
– Skill in organization
– Value of achievement over money
Entrepreneurial capacities
An entrepreneur should have or build the capacity to: a)exhibit entrepreneurial behaviour for