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  1. 1. Topic 1<br />What is Entrepreneurship ?<br />
  2. 2. Learning Objectives<br />At the end of this chapter, students <br />should be able to:<br /><ul><li>explain the concept of entrepreneurship
  3. 3. discuss the importance of entrepreneurship
  4. 4. discuss the characteristics of successful entrepreneurs
  5. 5. discuss the development of entrepreneurship in Malaysia</li></li></ul><li>
  6. 6. What do you understand by “entrepreneurship”?<br />The word entrepreneur is derived from the French wordentreprendre, whichmeans “to take risk”.<br />
  7. 7. Entrepreneurship<br />
  8. 8. Entrepreneurship<br /><ul><li>The practice of starting new organizationsparticularly, and new businesses generally in response to identified opportunities.
  9. 9. introduction of innovative, new, or unique products or services.
  10. 10. activities are substantially different depending on the type of organization that is being started.
  11. 11. Innovative entrepreneurs ~ the bridge between entrepreneurship and economic growth.</li></li></ul><li>Entrepreneurship<br /><ul><li>According to Schumpeter (1934), entrepreneurs of new products and technologies make existing products and technologies obsolete. He named this activity as ‘creative destruction’.
  12. 12. Small firms that practice this are called ‘innovators’.
  13. 13. Entrepreneurial culture plays an important role in the development of the individual, community, company, and country.</li></li></ul><li>Importance of Entrepreneurship<br />
  14. 14. Malaysian Entrepreneurs….<br />
  15. 15. Trends in Entrepreneurship<br />
  16. 16. Characteristics Of Successful Entrepreneurs<br />Use of Influence<br />Strategy<br />Information <br />Seeking<br />Persistence<br />High Quality <br />Of Work<br />Initiative <br />Efficiency<br />High Degree of <br />Commitment<br />Systematic<br />Planning<br />Self Confidence<br />Problem<br /> Solving<br />Persuasion<br />Assertiveness<br />Opportunity <br />Orientation<br />
  17. 17.
  18. 18. The Myths of Entrepreneurship<br />
  19. 19. The Myths of Entrepreneurship<br />
  20. 20. Businessman vs. Entrepreneur<br />
  21. 21. Entrepreneurship Development in Malaysia <br /><ul><li>Entrepreneurship has existed in Malaysia (Malaya) since the interaction of Malacca with foreign traders.
  22. 22. However, when the British colonized the Malay Peninsular, they changed the structure of the society and practiced the “divide and rule” system; Malays (administration & agriculture), Chinese (mining & business) and Indians (rubber plantations).
  23. 23. As a result of this system, the Chinese society was far ahead in business compared to the Malays and Indians.</li></li></ul><li><ul><li>After independence, the Malaysian Government realised the importance of entrepreneurship to individuals, society and the country, and how it contributes to the nation’s prosperity.
  24. 24. Since then, the government has been focusing on the field of entrepreneurship until today.
  25. 25. The New Economic Policy (1971-1990),
  26. 26. National Development Policy (1990-2000)
  27. 27. Vision 2020,</li></ul>all encourage and support entrepreneurship development in Malaysia.<br />Entrepreneurship Development in Malaysia <br />
  28. 28. Entrepreneurship Development in Malaysia <br /><ul><li>The government encourages entrepreneurship development and gives recognition to entrepreneurs because they can contribute to the development of the country.
  29. 29. In 1995, the government incorporated the Ministry of Entrepreneur Development as a specific body to manage and promote the growth of entrepreneurship in Malaysia. </li></li></ul><li>Entrepreneurship Development in Malaysia <br /><ul><li>SME Corporation Malaysia (SME Corp.) was set up in Oct 2009. It is the central point of reference for info and advisory services for all SMEs in Malaysia.
  30. 30. SME Corp. development programmes focusing on 3 main strategic thrust. They aim to:
  31. 31. Strengthen the enabling infrastructure
  32. 32. Build the capacity and capability of domestic SMEs
  33. 33. Enhance access to financing by SMEs</li></li></ul><li>Entrepreneurship Development in Malaysia <br />

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