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Entrep Behavior

The document discusses the evolution and definition of entrepreneurship, highlighting its incremental nature and the characteristics of successful entrepreneurs. It contrasts the roles of managers and leaders, emphasizing the innovative and visionary aspects of leadership. Key figures in entrepreneurship theory are mentioned, including Alfred Marshall, Adam Smith, and Joseph Schumpeter, each contributing to the understanding of the entrepreneur's role in economic transformation.

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jrrgrancho
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5 views2 pages

Entrep Behavior

The document discusses the evolution and definition of entrepreneurship, highlighting its incremental nature and the characteristics of successful entrepreneurs. It contrasts the roles of managers and leaders, emphasizing the innovative and visionary aspects of leadership. Key figures in entrepreneurship theory are mentioned, including Alfred Marshall, Adam Smith, and Joseph Schumpeter, each contributing to the understanding of the entrepreneur's role in economic transformation.

Uploaded by

jrrgrancho
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

-​ Alfred Marshall (1936) - The

process of entrepreneurship or
Theories & Concepts business development is
incremental or evolutionary.
of Entrepreneurship
Definition of
History Entrepreneurship
-​ The word “entrepreneur” is derived
-​ It is then a mere creation of
from the French word
business
“entreprendre” which means ‘to
-​ Entrepreneurship is a process of
undertake’. In the early 16th
innovation and new venture
century, the French men who
creation through four major
organized and led military
dimensions: individual,
expeditions were referred to as
organizational, environmental, and
“entrepreneurs.”
process
-​ “An entrepreneur is a person who
-​ The entrep process is aided by
undertakes to do a job,” Richard
collaborative networks in
Cantillon (1755)
government, education, and
-​ “Usahawan” is the Malaysian term
institutions.
-​ The functional definition of
The Evolution of entrepreneurs offers the following
Definition
Entrepreneurship Theory -​ Entrepreneurs are individuals who
-​ Adam Smith (1776) -An actively form or lead their own
entrepreneur is a person who acts business and nurture them for
as an agent in transforming growth and prosperity
demand into supply -​ Business Strategy
-​ Jean Babtiste Say (1803) - an
entrepreneur is a person who shifts
Characteristics of an
resources from an area of low
productivity to high productivity Entrepreneur
-​ John Stuart Mill (1848) - An
1.​ Calculated Risk-taker
entrepreneur is a prime mover in
2.​ Innovator
the private enterprise. The
3.​ Organise
entrepreneur is the fourth factor of
4.​ Creative
production after land, labor, and
5.​ Achievement Motivated
capital
6.​ Technically Competent
-​ Carl Menger (1871) - The
7.​ Self-confident
entrepreneur acts as an economic
8.​ Socially Responsible
agent who transforms resources
9.​ Optimistic
into products and services. The
10.​Equipped with the Capability to
entrepreneur transforms and gives
drive
added value
11.​Blessed with Mental Ability
-​ Joseph Aloysius Schumpeter
12.​Human Relations Ability
(1934) - an entrepreneur is an
13.​Communication Ability
innovator
14.​Decision-Making Why is initiative important in
15.​Business Planning
16.​A venture Capitalist Business?
17.​Visionary -​ Drive innovation
18.​Entrepreneurs make significant -​ Enhances productivity
differences -​ Improves problem-solving
19.​Ability to Spot and Exploit -​ Boosts leadership potential
Opportunities -​ Increases competitive advantage
20.​Courage to Face Adversities
21.​Leadership– An essential trait of
the entrepreneur

Manager vs Leader

Managers Leaders

Administers Innovates

A copy An original

Maintain Develops

Focus and Focuses on


systems, and people
structure

Relies on control Inspires trust

Short-range view Long-range


perspective

Asks how and Asks what and


when why

Eyen on the Eye on the horizon


bottom line

Imitates Originates

Accepts the status Challenges the


quo status quo

Classic good Own person


soldier

Does things right Does the right


thing

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