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 The history of capitalism (or free enterprise system), can be attributed to the activities of entrepreneurs. Capitalism is thus the product of entrepreneurial.

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Presentation on theme: " The history of capitalism (or free enterprise system), can be attributed to the activities of entrepreneurs. Capitalism is thus the product of entrepreneurial."— Presentation transcript:

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2  The history of capitalism (or free enterprise system), can be attributed to the activities of entrepreneurs. Capitalism is thus the product of entrepreneurial action, & the entrepreneur is not the product of capitalism as is often claimed.  It appears that the lesser the interference of the state in regulating the free enterprise system, the greater the possibility of achieving an entrepreneurial culture in a country.

3  Roles of Government:  Remove legal obstacles to starting and running enterprises.  Implement support structures for potential entrepreneurs with regard to training, consultation and financing.  Encourage entrepreneurial awareness through education and the media.  Curb government expenditure.  Introduce favorable tax incentives for small businesses.

4  Considering the:  level of unemployment,  shortage of housing,  uneven distribution of wealth & income,  low level of education &  high population growth rate in SA,  it appears only a miracle can solve these formidable problems.

5  Entrepreneurs:  Identify need of unemployment & housing.  Seek solutions to these problems.  Realise that the solution of one problem (housing) can solve unemployment problem.  To build a house:  Need to combine land, labour & capital.  Labour includes – skilled, semi-skilled & unskilled workers.  Done economically efficient & profitable manner.  Involves planning, organising, leading & controlling (POLC).

6  Entrepreneurs play a crucial role in innovation, job creation and economic development in any country.  Entrepreneurs need ideas to implement.  Enterprises need to find and implement new ideas in order to create sustainable competitive advantages which can lead to higher profits and continuity.  Considering the dynamic business environment, both existing enterprises as well as new ones need to continuously generate new ideas.

7  Approaches to encourage generation of new ideas:  Stimulating creativity through education, experience and in-service training.  Teaching people how to develop ideas.  Teaching and implementing idea-generation workshops.  Analysing and studying the behavior and activities of successful entrepreneurs.  Appointing creative individuals in the organization.  Focusing on the needs of people in the market- place.

8 Creativity implies the generation of new ideas and approaches. Entrepreneurial behavior, involves the ability to identify opportunities based on these new ideas and approaches, and to turn them into some economically viable product, service or venture.

9  Creativity can be seen as the ability of a person to identify an opportunity within a particular environment.  The ability of the person depends on the motives, personality, skills, experience and psychological preferences.

10  Logical vs lateral thinking:  Logical thinking:  (left side of the brain),  vertical thinking  follows the most obvious line, and  not appropriate for creative thinking,  needed to implement the ideas.

11  Lateral thinking:  (right side of the brain),  generation of new ideas and  creative thinking,  strives to move away from set pattern and  moves sideways by reforming the pattern.

12  An individual could apply any of the following 16 relatively simple & practical methods to find a number of economically feasible ideas.  See hand out of table ‘Ways of finding ideas’.


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