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    Topik 1 Usahawan & Keusahawanan

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    Syaidatul Nazira
    This document discusses entrepreneurship and the entrepreneurial process. It defines an entrepreneur as someone who starts a business or venture and is willing to take on risks and challenges. The entrepreneurial process involves 5 stages - discovery of opportunities, concept development through creating a business plan, resourcing by acquiring financial and human capital, actualization by running business operations, and harvesting through deciding on the business's future growth. Key aspects of being a successful entrepreneur include persistence, creativity, responsibility, inquisitiveness, motivation, and having relevant skills. Government agencies provide training and funding to support entrepreneurship in Malaysia.

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    Topik 1 Usahawan & Keusahawanan

    Uploaded by

    Syaidatul Nazira
    47 views28 pages
    This document discusses entrepreneurship and the entrepreneurial process. It defines an entrepreneur as someone who starts a business or venture and is willing to take on risks and challenges. The entrepreneurial process involves 5 stages - discovery of opportunities, concept development through creating a business plan, resourcing by acquiring financial and human capital, actualization by running business operations, and harvesting through deciding on the business's future growth. Key aspects of being a successful entrepreneur include persistence, creativity, responsibility, inquisitiveness, motivation, and having relevant skills. Government agencies provide training and funding to support entrepreneurship in Malaysia.

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    This document discusses entrepreneurship and the entrepreneurial process. It defines an entrepreneur as someone who starts a business or venture and is willing to take on risks and challenges. The entrepreneurial process involves 5 stages - discovery of opportunities, concept development through creating a business plan, resourcing by acquiring financial and human capital, actualization by running business operations, and harvesting through deciding on the business's future growth. Key aspects of being a successful entrepreneur include persistence, creativity, responsibility, inquisitiveness, motivation, and having relevant skills. Government agencies provide training and funding to support entrepreneurship in Malaysia.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    47 views28 pages

    Topik 1 Usahawan & Keusahawanan

    Uploaded by

    Syaidatul Nazira
    This document discusses entrepreneurship and the entrepreneurial process. It defines an entrepreneur as someone who starts a business or venture and is willing to take on risks and challenges. The entrepreneurial process involves 5 stages - discovery of opportunities, concept development through creating a business plan, resourcing by acquiring financial and human capital, actualization by running business operations, and harvesting through deciding on the business's future growth. Key aspects of being a successful entrepreneur include persistence, creativity, responsibility, inquisitiveness, motivation, and having relevant skills. Government agencies provide training and funding to support entrepreneurship in Malaysia.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 28

    Entrepreneur &

    Entrepreneurship

    Dr. Sheerad Sahid


    Business & Entrepreneurship Education
    Entrepreneur

    OBJECTIVES

    Entrepreneurship

    DR. SHEERAD SAHID


    BUSINESS & ENTREPRENEURSHIP EDUCATION
    What is an Entrepreneur?

    ▰ Originates from the French word entreprendre which


    means between- takers or a go–between; one who is
    willing to take on or try something.
    ▰ According to the ‘Kamus Dewan’ (2005), the term
    entrepreneur comes from the Malay word, ‘usaha’.
    ▰ There have been many definitions of entrepreneur.
    ▰ It appears that there is no standard definition of an
    entrepreneur.
    4
    Who are Entrepreneurs?

    People who:
    1. Want to be their own boss
    2. Pursue their own ideas
    3. Realize financial (or other) rewards

    ▰ Entrepreneurs create new ideas and new businesses. Their ideas


    often respond to customer/society needs that are not being satisfied
    with current businesses.
    5
    Personal Characteristics of Successful
    Entrepreneurs
    • Persistent (not giving up, keep trying)
    • Creative (looking at new ways of doing things, developing solutions to
    problems)
    • Responsible (doing what you are supposed to do, being held
    accountable)
    • Inquisitive (asking questions and seeking answers, curiosity)
    • Motivation and passion
    • Relevant skills and expertise
    Common Myths among Entrepreneurs

    ▰ They born - not made


    ▰ The are gamblers
    ▰ They are motivated primary by money
    ▰ They should be young and energetic
    ▰ They love the spotlight

    7
    Common Myths among Entrepreneurs

    ▰ They born - not made


    ▰ The are gamblers
    ▰ They are motivated primary by money
    ▰ They should be young and energetic
    ▰ They love the spotlight

    8
    NOT TRUE!
    WHY DO PEOPLE BECOME
    ENTREPRENEURS?

    Ability to fulfill
    Desire to be
    personal goals
    independent
    and interets

    Potential
    financial Family matter
    opportunities
    JOBS SEEKER VS JOB CREATER

    JOB SEEKER JOB CREATOR

    1.Work for Others 1.Own Boss


    2. Follow Instructions 2.Make
    3.Routine Job
    4. Earning is fixed, never VS own plans
    3.Creative activity
    negative 5.Does not 4.Can be negative
    create wealth sometimes, generally surplus
    6. Can choose from- Public 5.Creates Wealth, contributes
    to GDP
    Sector, Private Sector
    6. Can choose from-Industry
    Service Enterprise
    Entrepreneurship as a Process

    1. Discovery

    ▰ Entrepreneurial process can be


    2. Concept
    defined as the steps taken in development

    order to establish a new


    enterprise. It is a step-by-step 3. Resourcing

    method, one has to follow to set


    up an enterprise. 4. Actualization

    5. Harvesting

    Dr. Sheerad Sahid


    Steps in the Entrepreneurial Process
    1. Discovery: The stage in which the entrepreneur
    generates ideas, recognizes opportunities, and
    studies the market

    Innovation Opportunity

    DR. SHEERAD SAHID


    BUSINESS & ENTREPRENEURSHIP EDUCATION
    https://youtu.be/IGQmdoK_ZfY

    Dr. Sheerad Sahid


    What is An Idea, Opportunity and Innovation?
    An idea is a concept for a product or service that does not exist
    or is not currently available in a market niche. It may be a brand-
    new concept or an improvement of a current product or service.

    In contrast, an opportunity is an idea for a new product or service


    with a market that is willing to pay for that product or service so
    that it can form the basis of a profitable business.

    Innovation is the process of making changes to something that


    adds value to customers.
    2-3
    What is an Opportunity?
    An opportunity has four essential qualities

    2-4
    INNOVATIVE THINKING TO GENERATE
    BUSINESS IDEAS

    q Combine two businesses (or more)


    into one to create new business
    q Recognise a hot trend and determine
    current demand
    q Improve products, their functions, or
    offer new benefits
    q Recognise a need in the marketplace
    that is not being served
    q Begin with a problem in mind
    Invention VS Innovation
    I nven t io n can be defined as the creation of a product or
    introduction of a process for the first time.

    I nnov a tio n on the other hand, occurs if someone improves


    on or makes a significant contribution to an existing
    products, process or service.
    Steps in the Entrepreneurial Process

    2. Concept Development:
    • Business plan: a detailed
    proposal describing the business
    idea.
    • Business Model Canvas is a
    strategic management and lean
    startup template for developing
    new or documenting
    existing business models.

    DR. SHEERAD SAHID


    BUSINESS & ENTREPRENEURSHIP EDUCATION
    Dr. Sheerad Sahid
    Concept Development
    Will a patent or trademark be required?
    Steps in the Entrepreneurial Process
    3. Resourcing: The stage in which the
    entrepreneur identifies and acquires
    the financial, human, and capital
    resources needed for the venture
    startup, etc
    Start-up resources
    Dr. Sh eerad Sahid
    Resourcing
    Apply for loans,
    grants and
    assistance

    Identify potential
    investors

    Hire
    employees
    Dr. Sheerad Sahid
    Steps in the Entrepreneurial Process
    4. Actualization: The stage in which
    the entrepreneur operates the
    business and utilizes resources to
    achieve its goals/objectives.

    $$ Grand Opening $$

    Day-to-Day Operations

    Dr. Sheerad Sahid


    Steps in the Entrepreneurial Process
    5. Harvesting: The stage in which the entrepreneur
    decides on business’s future growth/ development,
    or demise

    What is your 5-year or 10-year plan?

    Consider adding locations or providing different


    products/services

    Will you go public?


    Dr. Sheerad Sahid
    ENTREPRENEURSHIP AGENCIES
    (TRAINING AND FUNDING) IN MALAYSIA

    • MaGIC
    • SME Corp
    • TEKUN
    • PUNB
    • PROTÉGÉ
    • INSKEN
    • MARA
    • UKM-CESMED
    THANK YOU

    Dr. Sheerad Sahid


    Business & Entrepreneurship Education
    Faculty of Education, UKM.

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