The document discusses the entrepreneurial mindset. It defines mindset and explains that there are two types: a fixed mindset where qualities are seen as fixed traits, and a growth mindset where qualities can be developed through effort. An entrepreneurial mindset is a set of assumptions and methods that trigger entrepreneurial behavior. Characteristics include open-mindedness, persistence, and focus. Developing an entrepreneurial mindset in a society is important for economic growth, innovation, and coping with changing business environments. Factors like motivation, knowledge, and attitude influence mindset and behavior.

1. The Entrepreneurial
Mindset
NOR IZZAH ILLIANA BT
OTHMAN
2014

2. Lecture Outline
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What is mindset?
What is entrepreneurial mindset?
Mindset and behavior
The importance of entrepreneurial mindset
Characteristics of having the right
entrepreneurial mindset
Building of an entrepreneurial society
Effective/Ineffective entrepreneurial mindset
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3. What is mindset?
Mind + Set
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4. mind
The ability to think and imagine
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5. set
Group of things
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6. What is mindset?
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Mindset
– A mindset refers to a set of assumptions,
methods or notations held by one or more
people or groups of people which is so
established that it creates a powerful incentive
within these people or groups to continue to
adopt or accept prior behaviors, choices, or
tools.
– This phenomenon of cognitive bias is also
sometimes described as mental inertia, "
groupthink", or a "paradigm", and it is often
difficult to counteract its effects upon analysis
and decision making processes.
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7. What is mindset?
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According to Dr. Carol Dweck* from
Stanford University, US, there are two
sets of mindset:
– A fixed mindset
– A growth mindset
*Source: Carol C. Dweck (2006), Mindset: The New Psychology of
Success, Random House
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9. What is mindset?
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In a fixed mindset , people believe
that their basic qualities, like their
intelligence or talent, are simply fixed
traits (rigid). They spend their time
documenting their intelligence or talent
instead of developing them. They also
believe that talent alone creates
success—without effort.
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10. What is mindset?
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In a growth mindset , people believe that
their most basic abilities can be developed
through dedication and hard work—brains
and talent are just the starting point. This
view creates a love of learning and a
resilience that is essential for great
accomplishment. Virtually all great people
(including entrepreneurs) have had these
qualities.
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13. Faces of successful
entrepreneurs
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14. Successful
entrepreneurs
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Bill Gates - Microsoft
Richard Branson – Virgin Airline
Anita Roddick – Body Shop
Konosuke Matsushita - Panasonic
Steve Job – Apple
Soichiro honda - Honda
Akio morita - Sony
others?.
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15. Successful Entrepreneurs
(Malaysia)
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Syed Mokhtar Al-Bukhari Tradewinds
Lim Goh Tong – Genting Groups
Tony Fernandez – Air Asia
Ananda Krisnan – Maxis
Others?
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16. Faces of successful
entrepreneurs - local
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17. TONY FERNANDES – AIR ASIA
ANDIANA NABILA
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18. Social Entrepreneurs
Professor Muhammad Yunus
Founder of Grameen Bank, Bangladesh
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19. Test Your Mindset
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You are given a set of twenty
statements.
Please respond freely to those
statements.
There is no right or wrong answer.
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20. Test Implications
0
10
Fixed
Mindset
Growth
Mindset
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21. Can mindset be
changed?
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Although people may differ in every which
way—in their initial talents and aptitudes,
interests, or temperaments BUT everyone
can change and grow through application
and experience.
The passion for stretching yourself and
sticking to it, even (or especially) when it’s
not going well, is the HALLMARK of the
growth mindset . This is the mindset that
allows people to thrive during some of the
most challenging times in their lives.
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22. What is Entrepreneurial
Mindset?
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Is a set of cognitive (thinking)
processes that triggers the individuals
to act or to behave entrepreneurially.
– Sometimes it is called entrepreneurial
talent or mentality
– This mindset, talent or mentality can be
changed and modified over time
– The basis for the individual behavior
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23. Entrepreneurial Mindset
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Having the right attitude:
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Able to work without supervision
Able to self-motivate
Able to make quick decisions
Able to handle stress
Open-minded and flexible
Focused
Persistent
Patient, etc.
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24. Mindset and Behavior
• Functional
knowledge
• Entrepreneurial
skills
• Managerial
skills
• Technical skills
• Communication
skills
• IT skills
Knowledge
&
Skills
Motivation
Attitude
Mindset affects the individual
behavior at all levels
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• Intrinsic
•Intention
•Spirit
•Responsibility
• Extrinsic:
•Role Model
•Rewards
• Pro-active
• Positive values
• Propensity to take risk
• Creative and innovative
• Inquisitive mind
• Pursuing excellence
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25. Mindset and Behavior
BEHAVIOR
(Explicit)
MINDSET
(Tacit)
APTITUDE
(Implicit)
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26. The Importance of
Entrepreneurial Mindset
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To cope with the rapidly changing economy.
– Business/economic environment today has
become fuzzy, chaotic, complex, uncertain and
change very rapidly.
– To succeed in the midst of this chaos and
uncertainty we require the agility, creativity,
flexibility, innovation, interdependence and vision
of entrepreneurs and their enterprising units.
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27. CREATIVITY 1
CREATIVITY 2
INNOVATION – BYD
INNOVATION - REVA
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28. The Importance of
Entrepreneurial Mindset
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To build an entrepreneurial society
– Developing the right mindset at a very early age
– Inculcation and acculturization process need to
implemented thru various programs and
activities
– Entrepreneurs as agents of change at every
level of the society
– Important contribution to entrepreneurial capital
– Entrepreneurship as a way of life
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29. Building an
Entrepreneurial Society
ECONOMIC
GROWTH
-Higher output
-Higher income per capita
-Higher standard of living
-Full employment
ENTREPRENEURIAL
ECONOMY
ENTREPRENEURIAL
CAPITAL
ENTREPRENEURIAL
SOCIETY
ACCULTURIZATION
PROCESS
-Changing the mindset
-Building the culture
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-Risk-taker
-Innovative
-Creative
-Supportive
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-Human
-Knowledge
-Intellectual
-Physical
-Financial
-Social
-Vibrant
-Sustainable
-Added value
-Job creation
-Higher
productivity
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30. The Importance of
Entrepreneurial Mindset
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To spur innovation and growth
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From creative people, comes creative products
Innovation creates and adds value
Finding new source of economic growth
Change as process, not destiny
Thinking “out of the box” becomes norms of the
society
– Innovation in every part of the value chain
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31. Ineffective Entrepreneurial
Mindset
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Don’t care attitude (Sikap “tak apa, sambil
lewa & malas”)
Not being meticulous/ takes thing for
granted) (Budaya “cincai & ambil mudah”
Passing the buck (Sikap “ini bukan kerja
saya”)
Why should I care?/Lackadaisical attitude
(Budaya “saya tak tahu & tidak peduli”)
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32. Ineffective Entrepreneurial
Mindset
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Wait and see (Sikap “tunggu dan lihat”)
Non-punctuality (Budaya tidak menepati
masa dan janji)
Subsidy mentality (Mentaliti subsidi)
Boria syndrome (Sindrom boria)
Ask more, give less (Budaya meminta-minta)
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33. Developing an Effective
Entrepreneurial Mindset
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Understand what motivates you
Know what you love
Challenge yourself
Reversal thinking
Change your habit (once in a while)
Always believe that you can
Break away from norms
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34. Summary
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We (entrepreneurs) must see things
from different perspectives, willing to
try new ways of doing things, willing to
tolerate a higher level ambiguity, do
not fear failure, seek and embrace
new norms, and most importantly to
realign our mental attitude – the
mindset
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35. SUCCESS STORY
SUSAN BOYLE 1
SUSAN BOYLE 2
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36. Conclusion
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Four (4) categories of people:
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Makes things happen
See things happen
Wonder what happen
Do not know what happen
Which category would you like to be in?
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