ENTREPRENEURSHIP CHAPTER 2 ENTREPRENEUR Prof.Dr.Huseyin ARASLI 2015

ENTREPRENEUR  WHO ARE ENTREPRENEUR?

ENTREPRENEUR DEFINITIONS-1 SOMEONE WHO INITIATES AND ACTIVELY OPERATES THE ENTREPRENEURIAL VENTURE.

DEFINITIONS-1  INHERENT IN THIS DEFINITION IS THE IDEA THAT THE ENTREPRENEUR IS NOT JUST THE PERSON WHO IDENTIFIES THE OPPORTUNITY(IES) THAT ARE THE BASIS FOR PURSUING AND INITIATING THE ENTREPRENEURIAL VENTURE  BUT IS ALSO THAT PERSON WHO OPERATES THE ENTREPRENEURIAL VENTURE

AN ENTREPRENEUR IS ONE WHO CREATES A NEW BUSINESS IN THE FACE OF RISK AND UNCERTAINTY FOR THE PURPOSE OF ACHIVING PROFIT AND GROWTH BY IDENTIFYING OPPORTUNITIES AND ASSEMBLING THE NECESSARY RESOURCES TO CAPITALIZE ON THEM ENTREPRENEUR DEFINITIONS-2

QUESTION AM I (OR COULD BE) AN ENTREPRENEUR?

TYPE OF ENTREPRENEURSHIP TYPOLOGIES  Entrepreneurship  Creation and distribution of value and benefits to individuals, groups, organisations, and society at large.  Intrapreneurship  Within corporations the process of entrepreneurship may be initiated by dynamic employees who are motivated to be creative and innovative to the social and economic enhancement of their organization. The process is termed as intrapreneurship.  Team Entrepreneurship  This typology does not view the process of entrepreneurship or intrapreneurship as the preserve of the individual. Rather, it is seen as a capability and attitude whereby individual skills are integrated into a group, or team, becoming partners in the business's future evolution. This collective capacity to innovate becomes something greater than the sum of its parts.

TYPE OF ENTREPRENEURSHIP CONTEXTS  Corporate Venture  Entrepreneurial Venture  Ethnic Minority  Family  Franchise  Gender  Home-based and craft  Joint Venture  Life-style  Small business and self- employment  Temporary/part-time

CHARACTERISTICS OF ENTREPRENEUR  DEMOGRAPHIC PROFILE OF ENTREPRENEURS  PERSONALITY PROFILE OF ENTREPRENEURS  INTENTIONS PROFILE OF ENTREPRENEURS

DEMOGRAPHIC PROFILE OF ENTREPRENEURS -1  THE CHARACTERISTICS OF THE INDIVIDUAL`S PERSONAL BACKGROUND AND ENVIRONMENT.  FAMILY BIRTH ORDER: FIRSTBORN CHILDREN TEND TO SEEK OUT MORE RESPONSIBILITY AND BE HIGH ACHIEVERS. THIS IS LIKELY TO CORRELATE WITH BEING AN ENTREPRENEUR  GENDER: MEN ARE MUCH MORE LIKELY TO START A BUSINESS THAN ARE WOMEN

 THE CHARACTERISTICS OF THE INDIVIDUAL`S PERSONAL BACKGROUND AND ENVIRONMENT.  WORK EXPERIENCE: TO WORK IN A SMALL BUSINESS OR TO HAVE PRIOR ENTREPRENEURIAL EXPERIENCE IS POSITIVELY RELATED TO BEING AN ENTREPRENEUR.  EDUCATION: TO HAVE A HIGH SCHOOL DIPLOMA SHARPLY RAISES A PERSON`S ODDS OF TRYING TO START A BUSINESS  ENTREPRENEURIAL FAMILY: ENTREPRENEURS TEND TO HAVE PARENTS WHO WERE ENTREPRENEURIAL DEMOGRAPHIC PROFILE OF ENTREPRENEURS -2

OTHER DEMOGRAPHIC TRAITS - 3  MARITAL STATUS  AGE  EDUCATION LEVEL OF PARENTS  SOCIOECONOMIC STATUS

PERSONALITY PROFILE OF ENTREPRENEURS-1  HIGH LEVEL OF MOTIVATION  ABUNDANCE OF SELF-CONFIDENCE  ABILITY TO BE INVOLVED FOR THE LONG TERM  HIGH ENERGY LEVEL  PERSISTENT PROBLEM SOLVER  HIGH DEGREE OF INITIATIVE  ABILITY TO SET GOALS  MODERATE RISK-TAKER

 HIGH ENERGY LEVEL  GREAT PERSISTENCE  RESOURCEFULNESS  THE DESIRE AND ABILITY TO BE SELF- DIRECTED  RELATIVELY HIGH NEED FOR AUTONOMY ANOTHER LIST OF PERSONALITY PROFILE OF ENTREPRENEURS-2

INTENTIONS PROFILE OF ENTREPRENEURS-1 THE ENTREPRENEURIAL ACTION (DECISION) BY AN INDIVIDUAL IS PRECEDED BY THE INTENTION TO DO SO, WHICH IN TURN IS INFLUENCED BY BOTH CONTEXTUAL FACTORS (SOCIAL, POLITICAL, ECONOMIC OPPORTUNITIES) AND PERSONAL FACTORS (HISTORY, PERSONALITY, ABILITIES).

BIRD`S MODEL OF ENTREPRENEURIAL INTENTIONALITY Opportunities in the Social, Political, economic Context Personal History, Background, Personality, Abilities Rational, Analytic Thinking— Goal-Directed Behavior Intuitive Thinking -- Vision INTENTIONALITYACTIONS

CHARACTERISTICS OF THE SUCCESSFUL ENTREPRENEUR  HARD WORK  SELF-STARTING  SETTING OF PERSONAL GOALS  RESILIENCE  CONFIDENCE  RECEPTIVENESS TO NEW IDEAS  ASSERTIVENESS  INFORMATION SEEKING  EAGER TO LEARN  ATTUNED TO OPPORTUNITY  RECEPTIVE TO CHANGE  COMMITMENT TO OTHERS  COMFORT WITH POWER

WHO BECOMES AN ENTREPRENEUR?  THE INVENTOR  THE UNFULFILLED MANAGER  THE DISPLACED MANAGER  THE EXCLUDED  THE YOUNG PROFESSIONAL

ENTREPRENEURIAL SKILLS  STRATEGY SKILLS  PLANNING SKILLS  MARKETING SKILLS  FINANCIAL SKILLS  PROJECT MANAGEMENT SKILLS  TIME MANAGEMENT SKILLS  LEADERSHIP SKILLS  MOTIVATION SKILLS  DELEGATION SKILLS  COMMUNICATION SKILLS  NEGOTIATION SKILLS

WHAT ENTREPRENEURS DO AN ENTREPRENEUR IS ENGAGED IN ASSESSING THE POTENTIAL FOR THE ENTREPRENEURIAL VENTURE AND THEN DEALING WITH START-UP ISSUES

THE ENTREPRENEUR`S TASKS  OWNING ORGANISATIONS  FOUNDING NEW ORGANISATIONS  BRINGING INNOVATIONS TO MARKET  IDENTIFICATION OF MARKET OPPORTUNITY  APPLICATION OF EXPERTISE  PROVISION OF LEADERSHIP  THE ENTREPRENEUR AS MANAGER

THE ROLE OF THE ENTREPRENEUR  COMBINATION OF ECONOMIC FACTORS  PROVIDING MARKET EFFICIENCY  ACCEPTING RISK  MAXIMISING INVESTORS` RETURNS  PROCESSING OF MARKET INFORMATION

BEHIND THE BOOM: WHAT`S FEEDING THE ENTREPRENEURIAL FIRE?  ENTREPRENEURS AS HEROES  ENTREPRENEURIAL EDUCATION  DEMOGRAPHIC AND ECONOMIC FACTORS  SHIFT TO A SERVICE ECONOMY  TECHNOLOGICAL ADVANCEMENTS  INDEPENDENT LIFESTYLE  E-COMMERCE AND THE WORLD WIDE WEB  INTERNATIONAL OPPORTUNITIES

Discussion and Questions

 Describe who entrepreneurs are and what they do.  Define the role of the entrepreneur in business in Turkey and across the world.  Explain the characteristics of entrepreneur.

HOMEWORK 1

 FIND OUT ENTREPRENEURSHIP JOURNAL WEB SITES ADDRESS AND COPY ONE ARTICLE WHICH IS RELATED WITH ENTREPRENEUR.  ACCORDING TO ARTICLE WRITE 5 QUESTIONS