Tutorial 1


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Tutorial 1

  1. 1. FLOW OF TUTORIAL <ul><li>TOPIC 1: Introduction to entrepreneurship </li></ul><ul><li>TOPIC 2: Identifying entrepreneurial characteristics </li></ul><ul><li>TOPIC 3: Developing entrepreneurial creativity and innovation </li></ul>
  2. 2. TOPIC 1 Introduction to Entrepreneurship <ul><li>Peter F. Drucker stated entrepreneurship is not:- </li></ul><ul><ul><li>Magic </li></ul></ul><ul><ul><li>Mysterious </li></ul></ul><ul><ul><li>But It is a DISCIPLINE and it can be LEARNED. </li></ul></ul>
  3. 3. MIND MAP <ul><li>The Evolution of Entrepreneurship </li></ul><ul><li>Concepts of Entrepreneurship </li></ul><ul><li>The importance of Entrepreneurship </li></ul><ul><li>The myth of Entrepreneurship </li></ul><ul><li>Entrepreneurship development in Malaysia </li></ul>
  4. 4. Question? <ul><li>What is your understanding of entrepreneurship? </li></ul>
  5. 5. 1.2 The concepts of entrepreneurship <ul><li>1.2.1 Entrepreneurship (Basic aspects) </li></ul><ul><ul><li>Involves creation process </li></ul></ul><ul><ul><li>Requires the devotion of time and effort </li></ul></ul><ul><ul><li>Assumption of necessary risks </li></ul></ul><ul><ul><li>Involves reward </li></ul></ul>
  6. 6. 1.2 The concepts of entrepreneurship (cont) <ul><li>1.2.2 Who are Entrepreneurs? </li></ul><ul><ul><li>Pioneers of today’s business success </li></ul></ul><ul><ul><li>An innovator or developer who recognizes and sizes opportunities. </li></ul></ul>
  7. 7. 1.3 Importance of Entrepreneurship <ul><li>Catalyst for economic change and growth </li></ul><ul><li>Help to improve lives </li></ul><ul><li>Anymore? </li></ul>
  8. 8. 1.4 The myths of entrepreneurship <ul><li>Myth 1: Entrepreneurs are doers, not thinkers </li></ul><ul><li>Myth 2: Entrepreneurs are born, not made </li></ul><ul><li>Myth 3: Entrepreneurs are always inventors </li></ul><ul><li>Myth 4: Entrepreneurs are academic and social misfits </li></ul><ul><li>Myth 5: Entrepreneurs must fit the “Profile” </li></ul><ul><li>Myth 6: All entrepreneurs need is money </li></ul><ul><li>Myth 7: All entrepreneurs need is luck </li></ul>
  9. 9. 1.4 The myths of entrepreneurship (cont) <ul><li>Myth 8: Ignorance is bliss for entrepreneurs </li></ul><ul><li>Myth 9: Entrepreneurs seek success but experience high failure rates </li></ul><ul><li>Myth 10: Entrepreneurs are extreme risk taker (gamblers) </li></ul>
  10. 10. 1.5 Entrepreneurship development <ul><li>What do you think? </li></ul><ul><li>Your thoughts on “DIVIDE & RULE SYSTEM” </li></ul>
  11. 11. TOPIC 2 Identifying entrepreneurial characteristics <ul><li>INTRODUCTION </li></ul><ul><ul><li>Entrepreneurs are individuals who recognize opportunities where others see chaos or confusion </li></ul></ul>
  12. 12. MIND MAP <ul><li>Characteristic of successful entrepreneurs </li></ul><ul><li>Entrepreneurs self assessment </li></ul><ul><li>The differences between businessmen, managers and entrepreneurs </li></ul>
  13. 13. 2.1 Characteristics of successful entrepreneurs <ul><li>Initiative and responsibility </li></ul><ul><li>High degree of commitment </li></ul><ul><li>Opportunity orientation </li></ul><ul><li>Moderate risk taker </li></ul><ul><li>Confident and optimistic </li></ul><ul><li>Creative and innovative </li></ul><ul><li>Seeking feedback </li></ul><ul><li>Drive to achieve </li></ul><ul><li>Ability to set vision </li></ul><ul><li>Skilled at organizing </li></ul><ul><li>Internal locus of control </li></ul><ul><li>Tolerance to failure </li></ul><ul><li>High level of energy </li></ul><ul><li>Team Building </li></ul><ul><li>Independent </li></ul><ul><li>Flexibility </li></ul>
  14. 14. 2.2 Entrepreneur self-assessment <ul><li>Visit the website http://bizmove.com/other/quiz.htm </li></ul>
  15. 15. 2.3 The differences between businessmen, managers and entrepreneurs <ul><li>Difference between a businessman and an entrepreneur </li></ul><ul><ul><li>Please refer to your module for discussion at page 15 </li></ul></ul><ul><li>Difference between a Conventional Manager and an entrepreneur </li></ul><ul><ul><li>Please refer to your module for discussion at page 16 </li></ul></ul>
  16. 16. TOPIC 3 Developing entrepreneurial creativity and innovation <ul><li>In today’s business landscape, entrepreneurs are required to think of ways to produce new products, services or processes for new purposes to the customers. </li></ul>
  17. 17. MIND MAP <ul><li>What is creativity </li></ul><ul><li>Process of creativity </li></ul><ul><li>Barriers to creativity </li></ul><ul><li>How to generate creative ideas </li></ul><ul><li>Characteristics of creative individual </li></ul><ul><li>What is innovation </li></ul><ul><li>Types of innovation </li></ul><ul><li>Sources of innovation </li></ul><ul><li>Barriers to innovation </li></ul><ul><li>The importance of creativity and innovation for entrepreneurs </li></ul><ul><li>Strategies to encourage creativity and innovation </li></ul>
  18. 18. 3.1 What is creativity? <ul><li>“…involves the development of UNIQUE and NOVEL responses to problems and opportunities (Online Ticketing, E-Banking) </li></ul>
  19. 19. 3.2 The process of creativity <ul><li>Phase 1: Knowledge accumulation </li></ul><ul><li>Phase 2: Incubation </li></ul><ul><li>Phase 3: Ideas </li></ul><ul><li>Phase 4: Evaluation and Implementation </li></ul>
  20. 20. 3.3 Barriers to creativity <ul><li>Personal Beliefs </li></ul><ul><li>Fear of Criticism </li></ul><ul><li>Over-Management </li></ul><ul><li>Stress </li></ul>
  21. 21. Activity in class (30 minutes) <ul><li>Form a group of 5 </li></ul><ul><ul><li>Task: Please find ways of how to overcome barriers to creativity. </li></ul></ul>
  22. 22. 3.4 How to generate creative ideas <ul><li>Brainstorming </li></ul><ul><li>Forced analogy </li></ul><ul><li>Do it </li></ul><ul><li>Mind Mapping </li></ul><ul><li>Nominal Group </li></ul>
  23. 23. 3.5 Characteristics of creative individuals <ul><li>Humble and proud at the same time </li></ul><ul><li>Very passionate but can be objective </li></ul><ul><li>Brave to try new things </li></ul><ul><li>Open minded and willing to accept criticism </li></ul><ul><li>Playfulness and discipline, or responsibility and irresponsibility </li></ul><ul><li>High-self control </li></ul><ul><li>Goal-directed, deliberate and considerate in decision making </li></ul><ul><li>Willing to take calculated risk </li></ul>
  24. 24. 3.6 What is innovation? <ul><li>“… finding ways to deliver new or better goods or services.” (Kinicki and Williams, 2003) </li></ul>
  25. 25. 3.7 Types of innovation <ul><li>Invention </li></ul><ul><li>Extension </li></ul><ul><li>Duplication </li></ul><ul><li>Synthesis </li></ul>
  26. 26. 3.8 Sources of innovation <ul><li>Unexpected events </li></ul><ul><li>New-knowledge concept </li></ul><ul><li>Changes of demographics </li></ul><ul><li>Process needs </li></ul>
  27. 27. 3.9 Barriers to innovation <ul><li>Organization does not encourage innovation </li></ul><ul><li>Insufficient sources </li></ul><ul><li>Traditional management behavior </li></ul>
  28. 28. 3.9 Barriers to innovation (cont) <ul><li>Also can be derived from individual behavior </li></ul><ul><ul><li>Fear of trying </li></ul></ul><ul><ul><li>Fear of making mistakes </li></ul></ul><ul><ul><li>Improper motivation </li></ul></ul><ul><ul><li>Fear of change </li></ul></ul><ul><ul><li>Fear of failure </li></ul></ul><ul><ul><li>Self-image block </li></ul></ul>
  29. 29. 3.10 Importance of creativity and innovation for entrepreneurs <ul><li>To ensure an organizational survival </li></ul><ul><li>To explore new markets </li></ul><ul><li>To exploit natural resources </li></ul>
  30. 30. 3.11 Strategies to encourage creativity and innovation <ul><li>Recognize your own ability </li></ul><ul><li>Change your perception </li></ul><ul><li>Change the organizational culture </li></ul><ul><li>Dare to fail </li></ul>