Principles Of Entrepreneurship - U.S. Embassy And .
Español Français Русский USINFO PublicationsTABLE OF CONTENTSIntroductionprinciples ofEntrepreneurshipPart 1What IsEntrepreneurship?Chinese Españoldownload PDFIntroductionPart 2What Makes Someonean Entrepreneur?download PDFPart 3Why Become anEntrepreneur?Economists and business people differ in their definitions of entrepreneurship. Most, however,agree that entrepreneurship is vital for stimulating economic growth and employmentopportunities in all societies. This is particularly true in the developing world, where successfulsmall businesses are the primary engines of job creation and poverty reduction. This pageintroduces the first eight of what eventually will be a series of 21 one-page primers on thefundamentals of entrepreneurship. It discusses the essentials for building and running abusiness from the planning stages to marketing a product.download PDFPart 4Decisions and DownfallsAuthor Jeanne Holden is a free-lance writer with expertise in economic issues. She worked as awriter-editor in the U.S. Information Agency for 17 years.download PDFNext Part 1 What Is Entrepreneurship?Part 5Go It Alone or Team Up?download PDFEditor-in-Chief: George Clack Executive Editor: Mildred Neely Writer: Jeanne Holden Designer: Tim BrownPart 6Choosing a Product anda Marketdownload PDFPart 7Entry Strategies for NewVenturesdownload PDFPart 8Marketing Is Sellingdownload PDFPart 9The Entrepreneur andthe Internetdownload PDF
Part 10Selling Onlinedownload PDFPart 11Choosing a Form ofBusinessdownload PDFPart 12Creating a BusinessPlandownload PDFPart 13The Entrepreneur'sNeed for Capitaldownload PDFPart 14Sources of Financingdownload PDFPart 15Intellectual Property: AValuable Business Assetdownload PDFPart 16The Strengths of SmallBusinessdownload PDFPart 17Entrepreneurship Aidsthe Economydownload PDFPart 18The Importance ofGovernment Policiesdownload PDFPart 19Resources for Aspiringand ExistingEntrepreneursdownload PDFPart 20Entrepreneurship:Glossary of Termsdownload PDFPart 21Additional Readingsdownload PDFspacerspa
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Español Français Русский USINFO PublicationsTABLE OF CONTENTSIntroductionprinciples ofEntrepreneurshipPart 1What IsEntrepreneurship?download PDFPart 2What Makes Someonean Entrepreneur?download PDFPart 3Why Become anEntrepreneur?download PDFPart 4Decisions and Downfallsdownload PDFPart 5Go It Alone or Team Up?download PDFPart 6Choosing a Product anda Marketdownload PDFPart 7Entry Strategies for NewVenturesdownload PDFPart 8Marketing Is Sellingdownload PDFPart 9The Entrepreneur andthe Internetdownload PDF1. What Is Entrepreneurship?What is meant by entrepreneurship? The concept of entrepreneurship was first established inthe 1700s, and the meaning has evolved ever since. Many simply equate it with starting one'sown business. Most economists believe it is more than that.To some economists, the entrepreneur is one who is willing to bear the risk of a new venture ifthere is a significant chance for profit. Others emphasize the entrepreneur's role as aninnovator who markets his innovation. Still other economists say that entrepreneurs developnew goods or processes that the market demands and are not currently being supplied.In the 20th century, economist Joseph Schumpeter (1883-1950) focused on how theentrepreneur's drive for innovation and improvement creates upheaval and change.Schumpeter viewed entrepreneurship as a force of "creative destruction." The entrepreneurcarries out "new combinations," thereby helping render old industries obsolete. Establishedways of doing business are destroyed by the creation of new and better ways to do them.Business expert Peter Drucker (1909-2005) took this idea further, describing the entrepreneuras someone who actually searches for change, responds to it, and exploits change as anopportunity. A quick look at changes in communications – from typewriters to personalcomputers to the Internet – illustrates these ideas.Most economists today agree that entrepreneurship is a necessary ingredient for stimulatingeconomic growth and employment opportunities in all societies. In the developing world,successful small businesses are the primary engines of job creation, income growth, andpoverty reduction. Therefore, government support for entrepreneurship is a crucial strategy foreconomic development.As the Business and Industry Advisory Committee to the Organization for Economic Cooperationand Development (OECD) said in 2003, "Policies to foster entrepreneurship are essential to jobcreation and economic growth." Government officials can provide incentives that encourageentrepreneurs to risk attempting new ventures. Among these are laws to enforce propertyrights and to encourage a competitive market system.The culture of a community also may influence how much entrepreneurship there is within it.Different levels of entrepreneurship may stem from cultural differences that makeentrepreneurship more or less rewarding personally. A community that accords the higheststatus to those at the top of hierarchical organizations or those with professional expertise maydiscourage entrepreneurship. A culture or policy that accords high status to the "self-made"individual is more likely to encourage entrepreneurship.This overview is the first in a series of one-page essays about the fundamental elements ofentrepreneurship. Each paper combines the thinking of mainstream economic theorists withexamples of practices that are common to entrepreneurship in many countries. The seriesattempts to answer: Why and how do people become entrepreneurs? Why is entrepreneurship
beneficial to an economy? How can governments encourage entrepreneurship, and, with it,economic growth?Part 10Selling Onlinedownload PDFNext Part 2 What Makes Someone an Entrepreneur?Part 11Choosing a Form ofBusinessdownload PDFPart 12Creating a BusinessPlandownload PDFPart 13The Entrepreneur'sNeed for Capitaldownload PDFPart 14Sources of Financingdownload PDFPart 15Intellectual Property: AValuable Business Assetdownload PDFPart 16The Strengths of SmallBusinessdownload PDFPart 17Entrepreneurship Aidsthe Economydownload PDFPart 18The Importance ofGovernment Policiesdownload PDFPart 19Resources for Aspiringand ExistingEntrepreneursdownload PDFPart 20Entrepreneurship:Glossary of Termsdownload PDFPart 21Additional Readingsdownload PDFspacerspa
download complete set ofPDFs zip fileTell us how you like thispublication bycontacting us at:iiptcp@state.gov.This site is produced and maintained by the U.S. Department of State's Bureau of International Information Programs.Links to other internet sites should not be construed as an endorsement of the views contained therein.Home About USINFO Site Index Webmaster PrivacyTopics Regions Resource Tools Products
principles ofEntrepreneurship 1. What Is Entrepreneurship?What is meant by entrepreneurship? Theconcept of entrepreneurship was first established in the 1700s, and the meaninghas evolved ever since. Many simply equate it withstarting one’s own business. Most economists believeit is more than that.To some economists, the entrepreneur is one who iswilling to bear the risk of a new venture if there is asignificant chance for profit. Others emphasize theentrepreneur’s role as an innovator who markets hisinnovation. Still other economists say that entrepreneurs develop new goods or processes that the marketdemands and are not currently being supplied.In the 20th century, economist Joseph Schumpeter(1883-1950) focused on how the entrepreneur’s drivefor innovation and improvement creates upheaval andchange. Schumpeter viewed entrepreneurship as aforce of “creative destruction.” The entrepreneur carries out “new combinations,” thereby helping renderold industries obsolete. Established ways of doingbusiness are destroyed by the creation of new and better ways to do them.Business expert Peter Drucker (1909-2005) took thisidea further, describing the entrepreneur as someone who actually searches for change, responds to it,and exploits change as an opportunity. A quick lookat changes in communications—from typewriters topersonal computers to the Internet—illustrates theseideas.Most economists today agree that entrepreneurshipis a necessary ingredient for stimulating economicgrowth and employment opportunities in all societies. In the developing world, successful small businesses are the primary engines of job creation, incomegrowth, and poverty reduction. Therefore, govern-ment support for entrepreneurship is a crucial strategy for economic development.As the Business and Industry Advisory Committeeto the Organization for Economic Cooperation andDevelopment (OECD) said in 2003, “Policies to foster entrepreneurship are essential to job creation andeconomic growth.” Government officials can provideincentives that encourage entrepreneurs to risk attempting new ventures. Among these are laws to enforce property rights and to encourage a competitivemarket system.The culture of a community also may influence howmuch entrepreneurship there is within it. Differentlevels of entrepreneurship may stem from culturaldifferences that make entrepreneurship more or lessrewarding personally. A community that accords thehighest status to those at the top of hierarchical organizations or those with professional expertise maydiscourage entrepreneurship. A culture or policy thataccords high status to the “self-made” individual ismore likely to encourage entrepreneurship.This overview is the first in a series of one-page essaysabout the fundamental elements of entrepreneurship.Each paper combines the thinking of mainstreameconomic theorists with examples of practices thatare common to entrepreneurship in many countries.The series attempts to answer: Why and how do people become entrepreneurs? Why is entrepreneurship beneficial to an economy? How can governments encourage entrepreneurship,and, with it, economic growth?U.S. Department of State/Bureau of International Information Programs
Español Français Русский USINFO PublicationsTABLE OF CONTENTSIntroductionprinciples ofEntrepreneurshipPart 1What IsEntrepreneurship?download PDFPart 2What Makes Someonean Entrepreneur?download PDFPart 3Why Become anEntrepreneur?2. What Makes Someone an Entrepreneur?Who can become an entrepreneur? There is no one definitive profile. Successfulentrepreneurs come in various ages, income levels, gender, and race. They differ in educationand experience. But research indicates that most successful entrepreneurs share certainpersonal attributes, including: creativity, dedication, determination, flexibility, leadership,passion, self-confidence, and "smarts." download PDFCreativity is the spark that drives the development of new products orservices, or ways to do business. It is the push for innovation andimprovement. It is continuous learning, questioning, and thinking outside ofPart 4Decisions and Downfallsprescribed formulas.download PDF Dedication is what motivates the entrepreneur to work hard, 12 hours a dayor more, even seven days a week, especially in the beginning, to get thePart 5Go It Alone or Team Up?endeavor off the ground. Planning and ideas must be joined by hard work todownload PDFsucceed. Dedication makes it happen.Part 6Choosing a Product anda Market Determination is the extremely strong desire to achieve success. It includespersistence and the ability to bounce back after rough times. It persuadesdownload PDFthe entrepreneur to make the 10th phone call, after nine have yieldednothing. For the true entrepreneur, money is not the motivation. Success isPart 7Entry Strategies for NewVenturesthe motivator; money is the reward.download PDF Flexibility is the ability to move quickly in response to changing marketneeds. It is being true to a dream while also being mindful of marketPart 8Marketing Is Sellingrealities. A story is told about an entrepreneur who started a fancy shopdownload PDFselling only French pastries. But customers wanted to buy muffins as well.Rather than risking the loss of these customers, the entrepreneur modifiedPart 9The Entrepreneur andthe Internether vision to accommodate these needs.download PDF Leadership is the ability to create rules and to set goals. It is the capacity tofollow through to see that rules are followed and goals are accomplished.
Part 10Selling Online download PDFentrepreneurs the ability to convince others to believe in their vision. Itcan't substitute for planning, but it will help them to stay focused and to getPart 11Choosing a Form ofBusinessothers to look at their plans.download PDF Part 12Creating a BusinessPlanentrepreneur the ability to listen without being easily swayed or intimidated.spacer download PDFPart 14Sources of Financingdownload PDFPart 15Intellectual Property: AValuable Business Assetdownload PDFPart 16The Strengths of SmallBusinessdownload PDFPart 17Entrepreneurship Aidsthe Economydownload PDFPart 18The Importance ofGovernment Policiesdownload PDFPart 19Resources for Aspiringand ExistingEntrepreneursdownload PDFPart 20Entrepreneurship:Glossary of Termsdownload PDFPart 21Additional Readingsdownload PDFSelf-confidence comes from thorough planning, which reduces uncertaintyand the level of risk. It also comes from expertise. Self-confidence gives thedownload PDFPart 13The Entrepreneur'sNeed for CapitalPassion is what gets entrepreneurs started and keeps them there. It gives"Smarts" is an American term that describes common sense joined withknowledge or experience in a related business or endeavor. The formergives a person good instincts, the latter, expertise. Many people havesmarts they don't recognize. A person who successfully keeps a householdon a budget has organizational and financial skills. Employment, education,and life experiences all contribute to smarts.Every entrepreneur has these qualities in different degrees. But what if a person lacks one ormore? Many skills can be learned. Or, someone can be hired who has strengths that theentrepreneur lacks. The most important strategy is to be aware of strengths and to build onthem.Next Part 3 Why Become an Entrepreneur?spa
download complete set ofPDFs zip fileTell us how you like thispublication bycontacting us at:iiptcp@state.gov.This site is produced and maintained by the U.S. Department of State's Bureau of International Information Programs.Links to other internet sites should not be construed as an endorsement of the views contained therein.Home About USINFO Site Index Webmaster PrivacyTopics Regions Resource Tools Products
principles ofEntrepreneurship 2. What Makes Someone an Entrepreneur?Who can become an entrepreneur? Thereis no one definitive profile. Successful entrepreneurs come in various ages, incomelevels, gender, and race. They differ in education andexperience. But research indicates that most successfulentrepreneurs share certain personal attributes, including: creativity, dedication, determination, flexibility,leadership, passion, self-confidence, and “smarts.” Creativity is the spark that drives the developmentof new products or services or ways to do business.It is the push for innovation and improvement. Itis continuous learning, questioning, and thinkingoutside of prescribed formulas.Dedication is what motivates the entrepreneur towork hard, 12 hours a day or more, even seven daysa week, especially in the beginning, to get the endeavor off the ground. Planning and ideas must bejoined by hard work to succeed. Dedication makesit happen. Determination is the extremely strong desire toachieve success. It includes persistence and theability to bounce back after rough times. It persuades the entrepreneur to make the 10th phonecall, after nine have yielded nothing. For the trueentrepreneur, money is not the motivation. Successis the motivator; money is the reward. Flexibility is the ability to move quickly in responseto changing market needs. It is being true to a dreamwhile also being mindful of market realities. A storyis told about an entrepreneur who started a fancyshop selling only French pastries. But customerswanted to buy muffins as well. Rather than riskingthe loss of these customers, the entrepreneur modified her vision to accommodate these needs. Leadership is the ability to create rules and to setgoals. It is the capacity to follow through to see thatrules are followed and goals are accomplished. Passion is what gets entrepreneurs started andkeeps them there. It gives entrepreneurs the abilityto convince others to believe in their vision. It can’tsubstitute for planning, but it will help them to stayfocused and to get others to look at their plans. Self-confidence comes from thorough planning,which reduces uncertainty and the level of risk. Italso comes from expertise. Self-confidence givesthe entrepreneur the ability to listen without beingeasily swayed or intimidated. “Smarts” consists of common sense joined withknowledge or experience in a related business orendeavor. The former gives a person good instincts,the latter, expertise. Many people have smarts theydon’t recognize. A person who successfully keepsa household on a budget has organizational and financial skills. Employment, education, and life experiences all contribute to smarts.Every entrepreneur has these qualities in different degrees. But what if a person lacks one or more? Manyskills can be learned. Or, someone can be hired who hasstrengths that the entrepreneur lacks. The most important strategy is to be aware of strengths and to build onthem.U.S. Department of State/Bureau of International Information Programs
Español Français Русский USINFO PublicationsTABLE OF CONTENTSIntroductionprinciples ofEntrepreneurshipPart 1What IsEntrepreneurship?download PDFPart 2What Makes Someonean Entrepreneur?download PDFPart 3Why Become anEntrepreneur?download PDFPart 4Decisions and Downfallsdownload PDFPart 5Go It Alone or Team Up?download PDFPart 6Choosing a Product anda Market3. Why Become an Entrepreneur?What leads a person to strike out on his own and start a business? Perhaps a person hasbeen laid off once or more. Sometimes a person is frustrated with his or her current job anddoesn't see any better career prospects on the horizon. Sometimes a person realizes that his orher job is in jeopardy. A firm may be contemplating cutbacks that could end a job or limitcareer or salary prospects. Perhaps a person already has been passed over for promotion.Perhaps a person sees no opportunities in existing businesses for someone with his or herinterests and skills.Some people are actually repulsed by the idea of working for someone else. They object to asystem where reward is often based on seniority rather than accomplishment, or where theyhave to conform to a corporate culture.Other people decide to become entrepreneurs because they are disillusioned by thebureaucracy or politics involved in getting ahead in an established business or profession. Someare tired of trying to promote a product, service, or way of doing business that is outside themainstream operations of a large company.In contrast, some people are attracted to entrepreneurship by the advantages of starting abusiness. These include: whom to do business with and what work they will do. They decide whatdownload PDFPart 7Entry Strategies for NewVenturesEntrepreneurs are their own bosses. They make the decisions. They choosehours to work, as well as what to pay and whether to take vacations. Entrepreneurship offers a greater possibility of achieving sig
ment support for entrepreneurship is a crucial strat-egy for economic development. As the Business and Industry Advisory Committee to the Organization for Economic Cooperation and Development (OECD) said in 2003, “Policies to fos-ter entrepreneurship are essential to job creation and economic growth.” Government officials can provide
To define the entrepreneurship. To explain the significance of Entrepreneurship. To explain the Entrepreneurship Development. To describe the Dynamics of Entrepreneurship Development. 1.1 Need and significance of Entrepreneurship Development in Global contexts It is said that an economy is an effect for which entrepreneurship is the cause.
CHAPTER 2: ENTREPRENEURSHIP THEORY AND CREATIVITY ctives. epreneurs. reneurship. 3:49). thought on the meaning of entrepreneurship. One group focused on the characteris-tics of entrepreneurship (e.g. innovation, growth, uniqueness) while a second group focused on the outcomes of entrepreneurship (e.g. the creation of value).
identify and describe characterizations of technology entrepreneurship, digital techno-logy entrepreneurship, and digital entrepreneurship. With this new delineation of terms, we would like to foster discussion between researchers, entrepreneurs, and policy makers on the impact of digitization on entrepreneurship, and set a future research agenda.
Digital entrepreneurship is the phenomenon associated with digital entrepreneurial activity. While the expressions ‘ICT entrepreneurship’ and ‘digital entrepreneurship’ are widely used, we have opted to use only the expression ‘digital entrepreneurship’ in this
Academic entrepreneurship: time for a rethink? 9 As academic entrepreneurship has evolved, so too must scholarly analysis of academic entrepreneurship. There has been a rise in scholarly interest in academic entrepreneurship in the social sciences (e.g., economics, sociology, psychology, and political science) and several fields of business
Global Entrepreneurship Education II- FRAMEWORK TABLE 1: CASES BY LEARNER CATEGORY III- ENTREPRENEURSHIP EDUCATION IN CHINA The Maker Space of Tsinghua University High School: Extreme Learning Process (XLP) For Entrepreneurship Education Tsinghua x-lab: a University-based Platform For Creativity, Innovation and Entrepreneurship Education
Entrepreneurship Development and Management, Vasant Desai, HPH 2. Entrepreneurship Management, Bholanath Dutta, Excel Books 3. Entrepreneurial Development, Sangeeta Sharma, PHI 4. Entrepreneurship, Rajeev Roy, Oxford University Press. CONTENTS MODULE I – ENTREPRENEURSHIP 1. The Concept
To define corporate entrepreneurship, initially the term entrepreneurship must be defined. Secondly, it is important to define clearly what entrepreneurship in established companies means. The main problem with the preparation of scientific papers regarding entrepreneurship is the concretization of a conceptual framework (Shane & Venkataraman .
