This document discusses entrepreneurship and provides definitions and characteristics of entrepreneurs. It defines entrepreneurship as taking risks to start and manage a business venture in a competitive global marketplace. Entrepreneurs are creators who discover new trends and lead innovation. The document contrasts the managerial approach of having set goals and means with the entrepreneurial effectuation approach of starting with available means and allowing goals to emerge. It lists principles of the entrepreneurial method and characteristics of successful entrepreneurs such as innovating, delivering value, and building relationships. Entrepreneurs need confidence, courage, and conviction to pursue unreasonable ideas that drive progress. Their entrepreneurial mindset allows them to shape an uncertain future through human action rather than predict it.

1. Entrepreneurship
Imran Yousaf
26 October 2016
Faculty of Social Sciences, Business and Economics, Åbo Akademi University
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2. Contents
 What is Entrepreneurship?
 What is Difference between Managers & Entrepreneurs?
 What is the entrepreneurial method?
 What are Characteristics of an Entrepreneur?
 Entrepreneurs need the confidence, courage and conviction to Be-Unreasonable
 What makes entrepreneurs entrepreneurial?
 Top Entrepreneurs of the world
 I SEE SOMETHING.............Wonderful Video...........
26 October 2016 2Faculty of Social Sciences, Business and Economics, Åbo Akademi University

3. What is Entrepreneurship…….
Entrepreneurship is the Willingness to Take Risks
To Develop, Organize and Manage a Business Venture in a
Competitive Global Marketplace that is Constantly Emergent.
Entrepreneurs are:
• Creators - Discoverers
• Trend-setters - Gurus
• Leaders - Front-runners
• Inventors - Originators.
26 October 2016 3Faculty of Social Sciences, Business and Economics, Åbo Akademi University

4. What is Difference between Managers & Entrepreneurs
Causation vs. Effectuation
Managerial Approach / Causal Reasoning:
one begins with a specific goal and a given set of means for reaching it.
Entrepreneurial Approach / Effectuation Reasoning:
one starts with only a set of means; in the process of deploying them, goals
gradually emerge.
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5. 26 October 2016 5Faculty of Social Sciences, Business and Economics, Åbo Akademi University
Recipe Example…………

6. What is the entrepreneurial method?
The Principles:
 Bird in Hand Principle - Start with what you have.
 Affordable Loss Principle - Risk little, fail cheap.
 Lemonade Principle - Leverage surprise.
 Crazy-Quilt Principle - Form partnerships.
 Pilot-in-the-Plane Principle - Apply non-predictive control - Conviction
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7. Where there is a will, there is a way !!!
26 October 2016 7Faculty of Social Sciences, Business and Economics, Åbo Akademi University
The Characteristics of an Entrepreneur:
– Locus yourself as a spearhead.
– Be unprejudiced.
– Deliver value — not just quick yield
– Build abiding relationships.
– Pursue new ideas — especially beyond your industry.
– Instigate your team.
– Go all-in.
– Know what your clients really want.
– Look for results, not reasons.
– Innovate, innovate and (ALWAYS) innovate!

8. Entrepreneurs need the confidence, courage and conviction to
Be-Unreasonable
26 October 2016 8Faculty of Social Sciences, Business and Economics, Åbo Akademi University
“The reasonable man adapts himself to the world; the
unreasonable one persists in trying to adapt the world to himself.
Therefore all progress depends on the unreasonable man."
George Bernard Shaw, Irish Playwright, Co-founder, London School of
Economics.

9. Entrepreneurs need the confidence, courage and conviction to
Be-Unreasonable
26 October 2016 9Faculty of Social Sciences, Business and Economics, Åbo Akademi University
Confidence
“Confidence comes not from always being right but from not fearing to be
wrong.”
Peter T. Mcintyre, Philosopher
Courage
“Courage is not the absence of fear but rather the judgment that something
else is more important than fear.”
Ambrose Redmoon, American Writer
Conviction
“A man of conviction is often more to be desired than a man of experience.”
Curt Siodmak, American Screenwriter

10. What makes entrepreneurs entrepreneurial?
26 October 2016 10Faculty of Social Sciences, Business and Economics, Åbo Akademi University
 Entrepreneurs are entrepreneurial, as differentiated from managerial or
strategic
– They think effectually.
– They believe in a yet-to-be-made future that can substantially be shaped
by human action.
– They realize that to the extent that this human action can control the
future.
– They need not expend energies trying to predict it.
– In fact, to the extent that the future is shaped by human action, it is not
much use trying to predict it.
– It is much more useful to understand and work with the people who are
engaged in the decisions and actions that bring it into existence.Saras D. Sarasvathy
Associate Professor
The Darden Graduate School of Business Administration
University of Virginia

11. 90 : 10 Earning Opertunities
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Job
Trade
Religious Quote

12. 26 October 2016 12Faculty of Social Sciences, Business and Economics, Åbo Akademi University
"Fortune favors the brave"
Fate-Destiny-Fortune