WEEK 1. Introduction to Entrepreneurship Views

Entrepreneurship

is the ability and readiness to develop, organize and run a business enterprise, along with any of its uncertainties in order to make a profit.

2 ways of thinking about Entrepreneurship

• Predictive Approach

• Creation Approach

Predictive Approach to Entrepreneurship

Considers entrepreneurship as a linear process where there are steps to do and the results are usually predictable.

Predictive Approach to Entrepreneurship

It identifies the goals they want to attain and searches for available

Creation Approach to Entrepreneurship

Define their goals based on the resources available at hand.

Joseph Alois Schumpeter

• FATHER OF ENTREPRENEURSHIP (1883-1950)

• Austrian-trained economist best , known for his 1942 book Capitalism, Socialism, and Democracy

The 5 Skills Important Entrepreneurship

1. SKILL OF PLAY

2. SKILL OF EXPERIMENTATION

3. SKILL OF EMPATHY

4. SKILL OF CREATIVITY

5. SKILL OF REFLECTION

NARRATIVE

It is describing what happened in terms of what took place, what was said and the people involved.