Unleash The Entrepreneur in You!

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This presentation speaks about the competencies of an entrepreneur and presents ways to acquire them.

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Unleash The Entrepreneur in You!

  1. 1. Unleash the Entrepreneur in YOU! Mohd M. Khawaja Deputy Director
  2. 2. This is NOT a …
  3. 3. WHO IS MR./MS. ENTREPRENEUR?
  4. 4. Unleashing The Entrepreneur in you!
  5. 5. Are you an entrepreneur? <ul><li>Get a special prize … NOW! </li></ul><ul><li>simply be the first to raise your </li></ul><ul><li>both hands up as soon as you read this! </li></ul>
  6. 6. Definitions of Entrepreneurship? <ul><li>Entrepreneurship is the practice of starting new organizations, particularly new businesses generally in response to identified opportunities (The Economist Magazine, March 11, 2006) </li></ul><ul><li>An Entrepreneur is a person who is willing and able to convert a new idea or invention into a successful innovation. (economist Joseph Schumpeter and the Austrian School of economics) </li></ul>
  7. 7. Other important Definition! <ul><li>Pinchot (1985) coined the term Intrapreneurship to describe the practice of entrepreneurial skills and approaches by or within organizations and government. </li></ul><ul><li>An Intrapreneur is the person who focuses on innovation and creativity and who transforms a dream or an idea into a profitable venture, by operating within the organizational environment. </li></ul><ul><li>Intrapreneurship is commonly referred to as Corporate Entrepreneurship </li></ul>
  8. 8. Old Theories of Entrepreneurship <ul><li>Trait-based theories : Entrepreneurs have many of the same character traits as leaders. </li></ul><ul><li>Collins and Moore (1970) studied 150 entrepreneurs and concluded that they are tough , pragmatic people driven by needs of independence and achievement. they seldom are willing to submit to authority ! </li></ul><ul><li>Cole (1959), there are four types of entrepreneur : the innovator, the calculating inventor, the over-optimistic promoter, and the organization builder </li></ul>
  9. 9. Modern theory of Entrepreneurship <ul><li>A successful entrepreneur possesses qualities that help his business grow and thrive. These qualities could be identified and enhanced by practice. </li></ul><ul><li>Research identified several key competencies in successful entrepreneurs in developed and developing countries. They are commonly known as the 10 personal entrepreneurial competencies (PECs) </li></ul><ul><li>These competencies are grouped into what are known as the Achievement Cluster , the Planning Cluster , and the Power Cluster . </li></ul>
  10. 10. Who is Mr./ Ms. Entrepreneur? <ul><li>ACHIEVEMENT CLUSTER </li></ul><ul><li>1. Opportunity seeking </li></ul><ul><ul><li>• Perceives and acts on new business opportunities </li></ul></ul><ul><ul><li>• Seizes unusual opportunities to obtain financing, equipment, land, work, space, and assistance </li></ul></ul><ul><li>2. Persistence </li></ul><ul><ul><li>• Takes repeated or different actions to overcome obstacles </li></ul></ul><ul><ul><li>• Makes sacrifices or expands ordinary effort to complete a task </li></ul></ul><ul><ul><li>• Sticks to own judgment in the face of opposition or disappointments </li></ul></ul>Tea Turkey YouTube
  11. 11. Mr./ Ms. Entrepreneur <ul><li>ACHIEVEMENT CLUSTER </li></ul><ul><li>3. Commitment </li></ul><ul><ul><li>• Accepts full responsibility for problems encountered </li></ul></ul><ul><ul><li>• Helps own employees to get the job done </li></ul></ul><ul><ul><li>• Seeks to satisfy the customer </li></ul></ul><ul><li>4. Risk-taking </li></ul><ul><ul><li>• Takes calculated or studied risks </li></ul></ul><ul><ul><li>• Prefers situations involving moderate risks </li></ul></ul>
  12. 12. Mr./ Ms. Entrepreneur <ul><li>ACHIEVEMENT CLUSTER </li></ul><ul><li>5. Concern for quality and efficiency </li></ul><ul><ul><li>• Always strives to raise standards </li></ul></ul><ul><ul><li>• Aims for excellence </li></ul></ul><ul><ul><li>• Strives to do things better, faster, cheaper </li></ul></ul>
  13. 13. Mr./ Ms. Entrepreneur <ul><li>PLANNING CLUSTER </li></ul><ul><li>6. Goal-setting </li></ul><ul><ul><li>• Sets clear and specific short-term objectives </li></ul></ul><ul><ul><li>• Sets clear long-term goals </li></ul></ul><ul><li>7. Information-seeking </li></ul><ul><ul><li>• Personally seeks information on clients, suppliers, competitors </li></ul></ul><ul><ul><li>• Seeks experts for business or technical advice </li></ul></ul><ul><ul><li>• Uses contacts or networks to obtain information </li></ul></ul>NOKIA JCBenny
  14. 14. Mr./ Ms. Entrepreneur <ul><li>PLANNING CLUSTER </li></ul><ul><li>8. Systematic planning and monitoring </li></ul><ul><ul><li>• Develops logical, step-by-step plans to reach goals </li></ul></ul><ul><ul><li>• Looks into alternatives and weighs them </li></ul></ul><ul><ul><li>• Monitors progress and shifts to alternative strategies when necessary to achieve goals </li></ul></ul>NASA
  15. 15. Mr./ Ms. Entrepreneur <ul><li>POWER CLUSTER </li></ul><ul><li>9. Persuasion and networking </li></ul><ul><ul><li>• Employs deliberate strategies to influence or persuade others </li></ul></ul><ul><ul><li>• Uses business and personal contacts to accomplish objectives </li></ul></ul><ul><li>10. Self-confidence </li></ul><ul><ul><li>• Believes in self </li></ul></ul><ul><ul><li>• Expresses confidence in own ability to complete a difficult task or meet a challenge </li></ul></ul>30 Sec Pitch
  16. 16. Thank you!

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