Entrepreneurship

Entrepreneur & Entrepreneurship

Who is called as an Entrepreneur ?
To some economists, the Entrepreneur is one who is willing to
bear the risk of a new venture if there is a significant chance
for profit.
Business expert Peter Drucker (1909-2005) took this idea
further, describing the entrepreneur as someone who actually
searches for change, responds to it, and exploits change as an
opportunity.

Characteristics of an Entrepreneur

Discovers and exploits opportunities.

As a Creator who initiates and motivates the

process of change.

What makes someone an Entrepreneur ?

Creativity - is the spark that drives the development of new
products or services or ways to do business
Dedication - is what motivates the entrepreneur to work hard,
12 hours a day or more, even seven days a week, especially in the
beginning of a new business.
Determination - is the extremely strong desire to achieve
success.
Flexibility - is the ability to move quickly in response to
changing market needs.
Leadership - is the ability to create rules and to set goals.
Passion - is what gets entrepreneurs started and keeps them there.
It gives entrepreneurs the ability to convince others to believe in
their vision.
Self-confidence - comes from thorough planning, which
reduces uncertainty and the level of risk.

Behaviour of an Entrepreneur

Accepts risks.

Uses intuition, is alert, explores new business.

Leadership, initiates new ways of acting.

Identifies business opportunities.

Creation of new Enterprise.

Entrepreneurial Process
Opportunity
Recognition

Innovation

Risk

Use of
ressources

Action

Added
Value

Advantages of Entrepreneurship
You are your own boss independency
The income increases
You have the chance to be original.
You have part of excitement and adventure
There are a lot of possibilities
Salary potential you decide upon your
own salary

Disadvantages of Entrepreneurship
Money pressure giving up on the
security of a regular paycheck
Less benefits as the business is new
Long working hours
Mistakes are magnified
All decisions must be made alone

Intrapreneurship
Intrapreneurship represent the initiation and
implementation of innovative
systems and practices within an organization, by some
of its staff under the
supervision of a manager who takes the role of an
Intrapreneur, in order to improve
the economical performance of the organization, by
using a part of its resources,
namely those that previously have not been used in an
appropriate manner.

Intrapreneurial Process
The intrapreneurial process is similar to the entrepreneurial

process0
It is more complex because it is applied in a context where the
intrapreneur does not have control over the social system

The five Is of Intrapreneurship

Implementation

Imagination
Information
Innovation
Intention