This document defines entrepreneurship and discusses the characteristics of entrepreneurs. It states that entrepreneurship involves assembling resources like finance, business skills, and innovations to transform new ideas into economic goods. Entrepreneurship is described as a process of innovation, creation of new ventures, and is aided by collaborative networks. The document outlines that entrepreneurs are innovators who recognize opportunities, organize operations to exploit opportunities, and take on the risks of starting a business. Common traits of entrepreneurs include confidence, enthusiasm, decision-making ability, and determination. The importance of entrepreneurship is discussed as turning innovations into demand, providing employment, and contributing to wealth, self-sufficiency, and research. The document concludes with sections on business entrepreneurship

1. Entrepreneurship
1
BY: PANG CHIN HUEY

2. Definitions of Entrepreneurship:
2
 Entrepreneurship is the act of being an
entrepreneur, which is a French word
meaning "one who undertakes an endeavor".
 Entrepreneurs assemble resources including
innovations, finance and business acumen in
an effort to transform innovations into
economic goods.

3. Definitions of Entrepreneurship:
3

It is more than mere creation of business

Entrepreneurship is a process of innovation and
new venture creation through four major
dimensions –
individual, organizational, environmental and
process.

The entrepreneurship process is aided by
collaborative networks in government, education
and institutions.

4. An entrepreneur:
4
 An innovator of business enterprise who
recognizes opportunities to introduce a new
product, a new process or an improved
organization, and who raises the necessary
money, assembles the factors for production and
organizes an operation to exploit the
opportunity.
 Someone who is willing to assume the
responsibility, risk and rewards of starting and
operating a business.

5. Characteristics of entrepreneurs:
5




Confident
Enthusiastic
Not afraid to make decisions
Determined
Entrepreneurs know:
 What they want
 Where to get the best information.
Entrepreneurs can:
 See opportunities that others can’t see
 Take on a challenge rather than always opting for the safe path
 Plan for different possible outcomes

6. The Importance of Entrepreneurship:
6
 It turns innovation and new ideas into demand
 It is vital part of one’s nation economy
 It provides employment to huge mass of people
 Creates wealth for nation and for individuals as
well
 Entrepreneurship provides self sufficiency
 Through Entrepreneurship, it contributes towards
research and development

7. Business Entrepreneurship Planning
7
Getting Started
 Starting with a feasibility plan, a business plan and a
proposal will be useful in the preliminary process.
 The planning process should follow the sections of a
feasibility study, which investigates whether the idea is
capable of becoming successful.
Working As an Entrepreneur
 Once the business is in operation, the planning does not
end. Entrepreneurship requires constant innovation and
change.
 Business entrepreneurship planning can come in many
forms.
 It requires creativity, independent thought and strategic
planning skills.

8. Mentorship
8
 Becoming a mentor or being mentored in




entrepreneurship planning will take effort from both
sides.
It is well worth it, though, because it strengthens the
planning process with another perspective.
Mentors learn along with the mentee s they help
develop approaches to business problems that are not
their own.
Give back after starting to work as an entrepreneur
because it will keep the business mind open to
innovation.
In addition, becoming a mentor could help refine the
current business plan, which should be reviewed for
adjustments every month to remain competitive.