ENTERPRISING SKILLS, MOHAMAD AZRIL BIN MOHD NOR - Coggle Diagram
Characteristics of successful entrepreneurs
skilled at organising
creative and innovative
moderate risk taker
Why Be an Entrepreneur
Control over compensation salary, wage,dividend & commission
control over working conditions
Control over time
Sources of opportunity
Use an existing technology to produce an old product in a new way.
Find a new source of (cheaper) resources.
Use an existing technology to produce a new product.
Use new technology to produce a new product.
Develop a new market for an existing product
Roots of opportunity
WHAT IS ENTREPRENEURSHIP?
the word was originally used to describe people who "take on the risk" between buyers and sellers or "undertake" a task such as starting a new venture.
Entrepreneurship is the process by which individuals pursue opportunities without regard to the resources they currently control.
The essence of entrepreneurial behavior is identifying opportunities and putting useful ideas into practice.
The set of tasks called for by this behavior can be accomplished by either an individual or a group and typically requires creativity, drive, and a willingness to take risks.
Cost and Benefits
long hours/hard work
2 Classes of opportunities
INTERNAL-generated by an interest or hobby of the entrepreneur.
EXTERNAL- generated by outside circumstances noticed by the entrepreneur.
MOHAMAD AZRIL BIN MOHD NOR