Entrepreneur is the person responsible for setting up a business or an enterprise.
He takes the initiative, is innovative, and looks for high achievements.
He is a change agent who puts up new projects that create wealth, open up employment opportunities and leads to the growth of the sector.
One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them.
Workshop on Entrepreneurship Prepared from the works of good hearted people who ventured to document their experience and findings Entrepreneurship
The entrepreneur is an individual who introduces something new in the economy- a new production method, a new product, a new source of raw material, a new market etc.
- Joseph Schumpeter.
An entrepreneur is the one who always searches for change, responds to it and exploits it as an opportunity. Innovation is a specific tool by which he exploits change as an opportunity, for a business or service.
- Peter Drucker
A true entrepreneur is the one who is endowed with more than average capacity in the task of organising and coordinating the various other factors of production.
Enterprises in protected economy can be mismanaged
Enterprises in competitive environment are essentially to be managed
A Management Graduate is a person trained to manage an enterprise. Naturally, he will deliver the best results
A Management Graduate should not be just a Job Seeker. He can and should take the role of Job Provider
Experience confirms that more Management Graduates take Entrepreneurial Role (after some experience) and their income is higher than their colleagues who are in job ( In Sri Lanka the percentage of Management Graduates who venture into business is dismally low. They prefer working for some one, but that trend is changing now. It is good news???)
Influenced by Culture, Community, Family Background, Teachers, Peers, etc.
Comparison of Traditional Managers, Entrepreneurs and Intrapreneurs Entrepreneurship Management Traditional Managers Entrepreneurs Intrapreneurs Primary motives Perks and promotion Self-employment, satisfaction and money Creative freedom and recognition Time Orientation Short-term – meeting quotas and budgets; weekly, monthly, quarterly and the annual planning horizon Short-term –business establishment; Long-term – growth of business Tend to follow the middle path
Entrepreneurship Management Traditional Managers Entrepreneurs Intrapreneurs Activity Delegates and supervises Direct involvement Direct involvement , not merely delegation Risk Careful Moderate risk taker Moderate risk taker Monetary Risk Nil High Nil Status Concerned about status Not concerned about status Not concerned about traditional status Failure and mistakes Tries to avoid mistakes Deals with mistakes and failures Attempts to hide risky projects from view until ready
Entrepreneurship Traditional Managers Entrepreneurs Intrapreneurs Decisions Like to take their own but unable to disagree with superiors Follows dream with decisions Able to get others to agree to help achieve their dreams Serves who? Others Self and customers Self, customers, and sponsors Family history Family members worked for large organizations Entrepreneurial small-business, professional Entrepreneurial small-business, professional Relationship with others Hierarchy as basic relationship Transactions and deal-making as basic relationship Transactions within hierarchy
This is a presentation done by Maxwell Ranasinghe to Students of the Final Year in the Department of Marketing at the University of Kelaniya.
Please develop it further with your own insight, knowledge and experience, share with your friends and members of your staff. Send comments to. I used a presentation made by a person called Swarupa to develop and adjust according to our requirements. So I claim no copyright to this.
The knowledge is universal, we need to share it for the common benefit.
So act now and send it to many friends as possible AS A CHAIN LETTER.( you may have been part of sending many mythological, time wasting, illogical chain letters but send this, it will at least help another fellow Sri Lankan to be an entrepreneur)
We, Sri Lankans need a big change in this attitudes more than any other thing.