an introduction to enterprenuership

1. THE CORE OF QUALITY HEALTH CARE EDUCATION 1
Presented by: Mr. Z. Njoroge
THE CORE OF
HEALTHCARE
EDUCATION
Entrepreneurship

2. 2
Course Outcomes
 Demonstrate knowledge and understanding of the nature of entrepreneurship and
innovation.
 Understand the legal & ethical issues in the development of successful enterprises.
 Identify and pursue a business/entrepreneurial opportunity
- Conduct market research
- Develop and sustain effective business networks
 Use technology to enhance business visibility for growth and sustainability.
 Apply innovation and entrepreneurial mindset to create a viable/bankable business plan.
 Demonstrate effective presentation skills to pitch a business idea

3. 3
Assessment Weighting Scheduled Date
Assignment 1 25% TBA
Assignment 2 25% TBA
Business
Proposal/Project
50% TBA
The assessment of the course comprises of continuous assessment which
makes 50% of the final grade and Business Proposal mark which makes 50%
of the final mark.
Assessment

4. Objectives
• Definitions of entrepreneurship
• History of entrepreneurship
• Attributes, Mindsets & Characteristics of an entrepreneurs
• Benefits of entrepreneurship
• Contribution of entrepreneurship to the economy
• Myths of entrepreneurship
• Entrepreneurship as a career
Understanding Entrepreneurship

5. Amongst World Top 30 Entrepreneurs

6. Steve Jobs
(Apple)
Bill Gates
(Microsoft)
Larry Page
(Google)
Mark
Zuckerberg
Sir Richard
Branson
(Virgin)

7. History of Entrepreneurship
• The entrepreneur is one who undertakes to organize, manage, and assume
the risks of a business.
• Although no single definition of entrepreneur exists and no one profile can
represent today’s entrepreneur, research is providing an increasingly
sharper focus on the subject.
• Derived from a French word 'Entreprendre' which means 'to undertake', 'to
pursue opportunities', or 'to fulfill needs and wants through innovation and starring
businesses’.
• The word first appeared in the French dictionary in 1723.

8. History of Entrepreneurship
• In 1985, Peter Ferdinand Drucker, the late management expert, defined
entrepreneurship as “the act that endows resources with a new capacity to create
wealth,” among the most specific and meaningful definitions of the term.
• More literally, the words “entrepreneurship” and “enterprise” both derive from the
Old French word for “an undertaking,”entrependre.

9. History of Entrepreneurship
• Yet even in French, the related word entrepreneur did not take on its
current meaning until the economist Jean-Baptiste Say so imbued it in
1800.
• In the English language, until the mid-nineteenth century, when the
French term entrepreneur began to enjoy common usage outside France

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 Entrepreneurship essentials – concepts and practice
 Entrepreneur according to Peter F Drucker “ one who always searches for change,
responds to it and exploits it as an opportunity”.
 The entrepreneurship process.
• Idea Business Plan Resourcing Managing Company
Outcome/ Harvesting
 Innovation: Peter F Drucker defines it as “the specific tool of entrepreneurs, the
means by which they exploit change as an opportunity for a different business or
service.

11. Definitions
• Entrepreneurship is the process of creating or seizing an opportunity and pursuing it
regardless of the resources currently controlled. Entrepreneurship involves the
definition, creation and distribution of value and benefits to individuals, groups,
organisations and society. - Timmons,
• An entrepreneur
• someone who creates and runs a business.
• Entrepreneurship – It is a philosophy or process through which an entrepreneur
seeks innovation and employment.

12. Definitions
Entrepreneurship is the process of creating something different with value by
devoting the necessary time and effort, assuming the accompanying financial,
psychic, social risks and receiving the resulting rewards of monetary and
personal satisfaction and independence.
(a) The creation process
(b) Devotion of time and efforts
(c) Assumption of risks
(d) Rewards of independence, satisfaction, money.
Entrepreneurship Definition involves four aspects –

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Entrepreneurial Imagination and Creativity
How entrepreneurs do what they do:
• Creative thinking + systematic analysis = success
• Seek out unique opportunities to fill needs and wants
• Turn problems into opportunities
• Recognize that problems are to solutions what demand is to supply

14. Dr Tiro S Mampane
President & Founder (Boitekanelo College)
Who is this great Entrepreneur?

15. Jeff Bezos

16. Bill Gates

17. Mark Zuckerberg

18. Steve Jobs

19. Richard Branson

20. Ritesh Agarwal

21. Mukesh Amabani

22. List Local Entrepreneurs You Know?
And Their Quality, Industry & Success Story

23. List Of Entrepreneurs
23
Name Industry Quality
Mr Seabelo Transport & Logistics Patient, innovative, perseverance
Mr Sayed Jamali Property and
Construction
Curious, Experimental, perseverance
Mr Derek Brink Land and Property Risk Taker, innovative, patient
Ms Gampone Petroleum Courage, creativity, flexible

24. What Are Influencers & Their Role?
Are Influencers Entrepreneurs?

25. • Entrepreneurs are people who organize, manage, and take on the risks of a
business.
• They often start a new business in response to a need for a product or service.
• An influencer, on the other hand, is someone who has the power to affect or
change people and their behavior through social media.
• Influencers who start their own business are definitely entrepreneurs, since they
manage their business, but are they fulfilling a need? Many say yes.
• Companies can target specific groups of people through employing an influencer.
• These groups might be missed by traditional advertising.
• And because influencers form a more personal relationship with their followers,
the followers seem more likely to buy what the influencer suggests.
https://www.nationalgeographic.org/article/influencers-modern-entrepreneur/7th-grade/
The Core of Quality Health Care Education 25
Are Influencers Entrepreneurs?

26. What Do You Do Everyday?

27. Attributes
Characteristics
Self Assessment
With the right mindset
• Have ideas
• Thinkers
• Perseverance
• Risk takers
• Innovative
• Courage
• Creativity
• Curiosity
• Determination
• Discipline
• Empathy
• Enthusiasm
• Flexibility
• Honesty
• Patience
Attributes & Characteristics
Of An Entrepreneur
• Right mindset?
• Right aptitude?
• Right attitude ?
Strengths & Weaknesses

28. Self Assessment Exercise
• Evaluating your strengths and weaknesses in the bid to learn
more about yourself
- What are your strengths and weaknesses
- Do have the Right
• mindset?
• aptitude?
• attitude ?
NB: This is an important part of becoming an entrepreneur

29. Myths About Entrepreneurship
• #1: Entrepreneurs don’t have a personal life
• #2: Entrepreneurs take lots of risks
• #3: Entrepreneurs are only motivated by money
• #4: Entrepreneurs raise money from venture capitalists
• #5: Entrepreneurs have great ideas
Myth: a widely held but false belief or idea.

30. Myths About Entrepreneurship
#6: Anyone can be an Entrepreneur
#7: Entrepreneurs have formal training and education
#8: Entrepreneurs are young
#9: Entrepreneurs don’t quit until they succeed
#10: Entrepreneurship is genetic

31. • Personal satisfaction
– Freedom to make your own business decisions and then act on
them.
• Making Your Own Rules.
– When you own a business, you get to be your own boss.
• Doing Work You Enjoy.
– Since the majority of most peoples’ lives is spent working, why not
spend that time doing something you enjoy?
• Creating Greater Wealth.
– There’s no limit to what an entrepreneur can make.
• Helping Your Community.
– Being an entrepreneur lets you make your community and world a
better place
Benefits of Entrepreneurship

32. Contribution Of Entrepreneurship
To The Economy
1.Wealth Creation and Sharing
2.Create Jobs
3.Balanced Regional Development
4. GDP and Per Capita Income
5.Standard of Living
6.Exports
7.Community Development

33. • Entrepreneurs are happier and healthier than
employed people.
• According to Forbes, people who are managing their
own businesses are happier than those who are
employed.
• There is more work-life balance and in a way, using
your creativity to build something is taking the stress
of working for a living.
Entrepreneurship As A Career

34. • Being Your own Boss
• Self management is the motivation that drives most entrepreneurs
• Financial Success
• Entrepreneurs are wealth creators idea generators
• Job Security
• Over the past 10 years large companies have eliminated more jobs than they
have created
• Quality of Life
• Starting a business gives the founder some form of choice on how, when and
where to do work
Entrepreneurship As A Career

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Factors Favouring Entrepreneurship
a) Developed Infrastructure Facilities
b) Financial Assistance
c) Protective and Promotional Policies
d) Growth of Education
e) Risk Taking Abilities
f) Hunger for Success (Capitalistic View)
g) Environment/Culture Impact
h) Social Security
i) Technical/Industrial Training Facilities
j) Globalization
Summary

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Factors Favouring Entrepreneurship
a) Developed Infrastructure Facilities –
Availability of infrastructure reduces the cost & efforts and improves viability of
projects through higher profit margins.
b) Financial Assistance –
Easy availability of cheap funds is vital for promoting entrepreneurship.
c) Protective and Promotional Policies –
Most of the entrepreneurship projects start very small and have no resilience. They
are extremely vulnerable to competitors, market, money markets, etc, for
considerable time. Favourable Govt policies shelter them from such vagaries.
d) Growth of Education –
Growth of education is believed to be promoting entrepreneurship. However, there
are enough examples to suggest otherwise. A very large proportion of first
generation entrepreneurs are low educated. Take the case of Microsoft Chairman
Mr Bill Gates

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e. Risk Taking Abilities – Risk taking ability is one of the pillars of entreprene
f) Hunger for Success (Capitalistic View) – Fire in the belly and dreams of riches is
what drives most entrepreneurs on this risky path. Any person content with what
he has would take the easier route of salaries job.
g) Environment/Culture Impact – Entrepreneurship is contagious. There are
Communities which are historically entrepreneurial. They are known for seeking
and exploiting business opportunities in most remote areas. It is a culture that
propels them. (Go to Pull_Factors )
h) Social Security – Social security acts as a safety net against failure of enterprise.
Social security guarantees basic ‘survival’ in case of failure. Entrepreneurial
spirit of United States is born partly out of this security.
i) Technical/Industrial Training Facilities – Industrial Training facilities on one hand
generate skilled manpower so vitally required for setting up enterprises while on
the other hand they are also nursery for future entrepreneurs.

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j) Globalization – Globalization has provided another avenue for business. Many dare
devils have taken a head– along plunge into this uncharted water and have written

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What makes a Successful Entrepreneur?
• The urge for achievement (most often monetary ambitions) – Most Important
• Willingness to take moderate risks – (High risk takers are not entrepreneurs but
gamblers).
• Determination to win
• Win– Win Personality
• Ability to identify & explore opportunities
• Analytical ability to take strategic decisions
• Perseverance
• Flexibility
• Capacity to plan and organize
• Preparedness to undergo physical and emotional stress
• Positive self concept/Self Belief
• Future orientation – Vision
• Ethics and Values – Mission Who can be an Entrepreneur?