fundamentals of entrepreneurship , what do you mean by entrepreneur/ who is an entrep , a brief summary of the entrepreneurial profile , 10 deadly mistakes of entrepreneurship , ways to avoid the pitfalls , benefits of entrepreneurship , risks of an entrepreneur , potential drawbacks of entrepreneurship , risks of entrepreneurs , forces for building an entrepreneur

1. Fundamentals of
Entrepreneurship

2. Fundamentals of Entrepreneurship:
Before going to study the course
Entrepreneurship Development we
should see the real story of
entrepreneurs all over the world that
will inspire us to study the course as
well as help us to understand in better
way .

3. Dear students, Do you know
the people?

4. Bill Gates. Former CE and current chairman of
Microsoft.
Mark Elliot Zuckerberg is the chairman and
chief executive of Facebook, Inc.
Oprah Winfrey, known for her multi-award-
winning talk show ‘The Oprah Winfrey Show.’
Sam Walton; best known for founding the
retailers Wal-Mart and Sam's Club.
Steve Jobs, the co-founder, chairman, and CEO
of Apple Inc.

5. Ahmed Akbar Sobhan, founder
of Bashundhara Group.
Bibi Russell, founder and the owner of Bibi
Productions.
Sir Fazle Hasan Abed, founder and chairman
of BRAC.
Iqbal Z. Quadir, the Founder of Gonofone &
Grameenphone.
Jawed Karim, Bangladehi internet
entrepreneur and co-founder of YouTube.

6. Kaniz Almas Khan, a renowned entrepreneur,
beautician and the CEO of Persona.
Muhammad Yunus, founded
microfinance organization Grameen Bank.
Samson H. Chowdhury, founder of Square
Group.
Syed Manzur Elahi, chairman and founder of
Apex Group.
Salman F Rahman, founded Beximco Group
and Beximco Pharma with his brother.

7. What do you mean by Entrepreneur/ Who is an
Entrepreneur?
The word “Entrepreneur” comes from the French word
“Entreprendre”. Entreprendre means "to undertake", take
responsibility, to do work, to think or to take some steps for
doing something. In a business context, it means to start a
business. The Merriam-Webster Dictionary presents the
definition of an entrepreneur as one who organizes,
manages, and assumes the risks of a business or enterprise.

8. An Entrepreneur is one who creates a new business in the
face of risk and uncertainty for the purpose of achieving
profit and growth by identifying significant opportunities
and assembling the necessary resources to capitalize on
them.
• There is a debate on the definition of entrepreneurs. There
are different views:
• From the view points of Economist: An entrepreneur is
one who brings resources, labor, materials and other assets
into combinations that make their value greater than
before , and also one who introduces changes, innovations,
and a new order.
• From the view points of psychologists: Entrepreneur is
such a person is typically driven by certain forces- the need
to obtain or attain something, to experiment, to
accomplish, or perhaps to escape the authority of others.

9. Although being an entrepreneur means different things
to different people, there is agreement that we are
talking about a kind of behavior that includes:
• Initiative taking
• The organizing and reorganizing of social and
economic mechanisms to bundle resources in
innovative ways, and
• The acceptance of risk, uncertainty, and/or the
potential for failure.
So an entrepreneur is an individual who takes initiative
to bundle resources in innovative ways and is willing
to bear the risk and/or uncertainty to act.

10. A brief summary of the Entrepreneurial Profile
Desire for
responsibility
Preference for
moderate risk
Confidence in
their ability to
succeed
Desire for
immediate
feedback
High level of
energy

11. A brief summary of the Entrepreneurial Profile
Future
orientation
Skill at
organizing
Value of
achievement
over money
High degree of
commitment
Flexibility

12. When Michael Dell started an informal business putting together and
selling upgrade kits for personal computers in the dorm room of his
university. In 1992 aged 27, he became the youngest CEO to have his
company ranked in Fortune magazine's list of the top 500
corporations. In 1996, Dell started selling computers over the Web.
The yearly revenue of Dell Inc. is now US$ 56.94 billion.

13. Benefits of Entrepreneurship
Opportunity to create own destiny.
Opportunity to make a difference.
Opportunity to reach to full potential.
Opportunity to reap impressive profits.
Opportunity to contribute to society.
Opportunity to do work with enjoyment.

14. Potential drawbacks of Entrepreneurship
Uncertainty of
income
Risk of losing
entire investment
Hard work
High level of
stress
Complete
responsibility
Discouragement

15. Intrapreneur?
In recent times, a new brand of corporate entrepreneurs called
“intrapreneurs” has come into picture. When the entrepreneurs emerge
within the boundary of an existing enterprise then they are called
intrapreneurs.
In big organization, the top executives with entrepreneurial talents are
encouraged to generate new ideas and then convert them into products
through research and development carried out within the organization itself.
If the talents inside an organization are regarded, the entrepreneur could
avoid failure/stagnation and decline in his enterprise.
Is there any difference between manager and
entrepreneur?

16. Dimensions Entrepreneurial Styles Managerial Styles
Strategic Orientation Driven by perception of opportunity Driven by controlled resources
Conceptual dimensions Entrepreneurial focus (Promoter) Administrative focus (Trustee)
Commitment to opportunity Revolution with short duration Evolutionary with long duration
Commitment of Resources Many stages with minimal exposure at
each stage
A single stage with complete commitment
out of decision
Control of Resources Episodic use or rent of required resources Ownership or employment of required
resources
Management Structure Flat, with multiple informal networks Hierarchy
Reward Philosophy Based on value creation Based on responsibility and Seniority
Growth Orientation Rapid growth is top priority; risk
accepted to achieve growth
Safe, slow, Steady
Entrepreneurial culture Entrepreneurial culture Opportunity search restricted by
resources controlled: failure punished
Management Structure Flat, with multiple informal networks Hierarchy
Reward Philosophy Based on value creation Based on responsibility and Seniority

17. Risks of an Entrepreneur
In launching a business the entrepreneur faces substantial
business risks. Well over 3 million new businesses are started
each year. But the rate of falling is high.
Business risks
Financial risks
Career risks
Family and social risks

18. Risks of Business

19. Risks of Entrepreneurs
1. Competitive
Risk
2. Technological
Risk
3. Political &
Legal
4. Economical
risk
5. Employee Risk
6. Strategic risk

20. What is Entrepreneurial Stress?
Generally stress means a dynamic condition in which an
individual is confronted with an opportunity, constraint, or
demand related to what he or she desires and for which the
outcome is perceived to be both uncertain and important.
Entrepreneurial Stress is the realization of a difference
between the expectations of an entrepreneur and the actual
ability to meet those expectations.

21. A Model of Stress
E X H I B I T 19–9

22. Environmental Factors:
Economic uncertainties of the business cycle
Political uncertainties of political systems
Technological uncertainties of technical innovations
Terrorism in threats to physical safety and security

23. Forces for Building an Entrepreneur
 Entrepreneurial education
 Demographic and economic factors
 Shift to a service economy
 Technological advancement
 Independent lifestyle
 E-commerce
 International opportunities

24. 10 Deadly Mistakes of Entrepreneurship
 Management mistakes
 Lack of experience
 Poor financial control
 Weak marketing efforts
 Uncontrolled growth
 Poor location
 Improper inventory control
 Incorrect pricing
 Entrepreneurial transition
 Failure to develop a strategic plan

25. Failure Story
of Sony
Sony corporation, founded by
Masaru Ibuka and Akio Morita,
dominated the market for TVs,
cameras, video recorders, and many
other consumer electronics. But as
Sony became a huge conglomerate
with film and music divisions, it lost
leadership in many of its core
product lines. Sony could not cope up
change in software technologies. As a
result, faster-moving competitors like
LG, Samsung, Vizio, Apple, and the
various makers of cell phones—
which of course come with cameras
these days—have outpaced this old-

26. Ways to avoid the pitfalls
Knowing
the
business
in depth
Developing a
solid
Business plan
Managing
financial
resources
Understanding
financial
statements Learning to
manage
people
effectively
Constant
practice and
attention