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The foundations of Entrepreneurship - Coggle Diagram
The foundations of Entrepreneurship
What is an Entrepreneur?
One who creates new business in facing the risk & uncertainty for the purpose of achieving profit & growth by identifying opportunities
Characteristic of Entrepreneurs
Determination : they have to observe
Desire for immediate feedback
Confidence in their ability to succeed
High level of energy : entrepreneurs need to have higher level of energy compare to makan gaji workers
Self-Reliance : they need to have own decision and responsibility
Future orientation
Opportunity entrepreneurs : always finding opportunity
Necessity entrepreneurs : person that can't find a job, so become entrepreneur
Serial entrepreneurs : everyday will see opportunity (quite crazy)
Preference for moderate level of risk : need to eliminate risk as much as possible
Skilled at organizing
Desire for responsibility : They need to be responsible from start to end
Value achievement over money
Benefits of Entrepreneurship
Reach your full potential
Reap impressive profits
Make a difference
Contribute to society and to be recognized for your efforts
Create your own destiny
Do what you enjoy and to have fun at it
Drawback of Entrepreneurship
Long hours and hard work
Lower quality of life until the business gets established
Risk of losing your entire investment
Uncertainty of income
High levels of stress
Complete responsibility
Discouragement
Feeding the Entrepreuneurial Fire
Shift to a service economy
Technology advancements
Demographic & economic factors
Independent lifestyle
Entrepreneurial education
The internet,
cloud computing
, and mobile marketing
Entrepreneurs as heroes
International oppoturnities
Cultural Diversity of Entrepreneurship
Home-based businesses
Family businesses
Part-time entrepreneurs
Copreneurs
Immigrant entrepreneurs
Corporate catsoffs
Minority-owned enterprises
Corporate droupouts
Women entrepreneurs
Retiring baby boomers
Young entrepreneurs