1. Lecture 3 The entrepreneurial process
Dr. Hatem Elaydi
ECOM 5368 Engineering Management (Entrepreneurship & ework)
Islamic University of Gaza
Aug. 31, 2016

2. The entrepreneurial process
Entrepreneurship is the process of recognizing and seizing opportunities in the marketplace.
Entrepreneurs are the pioneers on the frontiers of business
Dr. Hatem Elaydi, IUG, Fall 2016, Entrepreneurship

3. Learning opjectives Learning tasks:
Define entrepreneurship (brainstorming)
Describe the elements of entrepreneurship (review/lecture)
Describe small business management (review/lecture)
Describe characteristics of excellence (lecture)
Describe self-assessment of entrepreneurial characteristics (lecture)
Dr. Hatem Elaydi, IUG, Fall 2016, Entrepreneurship

4. Elements of entrepreneurship
Innovation and change
Freedom
Challenge
Creativity
Struggle
Opportunity
Personal growth
Self sufficiency
Scarcity of resources
Legality
Dr. Hatem Elaydi, IUG, Fall 2016, Entrepreneurship

5. Characteristics of entrepeneur
Respond to all challenges
Learn from mistakes
Take personal initiative
Dr. Hatem Elaydi, IUG, Fall 2016, Entrepreneurship

6. What it takes to begin an entrepreneurial venture
Identify a success goal or vision for the business.
Risk time and money.
Plan, organize and follow through.
Work hard and do what it takes for success.
Put in the effort to develop good relation with customers, employees, suppliers, bankers and others.
Dr. Hatem Elaydi, IUG, Fall 2016, Entrepreneurship

7. The characteristics of excellence
First impression
Knowledge
Flexibility
Sensitivity
Enthusiasm
Self-esteem
Focus
Humour
Creativity
Risk
Honesty and ethics
Dr. Hatem Elaydi, IUG, Fall 2016, Entrepreneurship

8. Areas of selfassessment
Taking calculated risks
Independence
Achievement
Tolerance for uncertainty
Initiative
Dr. Hatem Elaydi, IUG, Fall 2016, Entrepreneurship

9. Discovering the right business opportunity
Self-assess your characteristics.
Determine personal and business objectives.
Identify a suitable business opportunity.
Complete a feasibility study.
Dr. Hatem Elaydi, IUG, Fall 2016, Entrepreneurship

10. Work activities Please fill in the following questionnairs
Dr. Hatem Elaydi, IUG, Fall 2016, Entrepreneurship

11. Dr. Hatem Elaydi, IUG, Fall 2016, Entrepreneurship