Professional Documents
Culture Documents
CARL MENGER -the role of entrepreneur in adding value to entire process of production and distribution. 1848
1936
1934
1871
JOHN STUART MILL -reiterated the significance of entrepreneursip in private ent.
1803
1776
Ethics
Motivation
Principles
Ibadah
Position
entrepreneur
Individuals who actively form or lead their own business and nurture them for growth and prosperity.
A process of creating and expanding businesses that collectively form a force for national development and societal prosperity.
entrepreneurship
The development of SMEs has received much attention since the implementation of the New Economy Policy (1971-1990). In Malaysia the SMIs employed 90% of the total labor force in manufacturing sector and contributed to about 26% of total value added in the sector. A survey done found that there were 12,000 SMEs established in Malaysia made up: 88% -small enterprises 12% medium-sized enterprises
Flexibility of change
Organisational structure
CHARACTERISTICS OF A SMALL BUSINESS
ownership
resources
management
ENTREPENEURAL MOTIVATION
The need for achievement (n Ach)
Achievement motive - drive to do well, strive for excellence and overcome challenges and obstacles in the pursuit of goal.
ENTREPRENEURAL COMPETENCIES
1. Initiative 2. Sees and acts on opportunities 3. Persistence 4. Information Seeking 5. Concern for High Quality of Work 6. Commitment to Work Contract