BASIC CULTURELIZATION OF

ENTREPRENEURSHIP

TOPIC 1: CONCEPT & DEVELOPMENT OF

ENTREPRENEURSHIP
Objectives:
Evaluating the importance of the study of
entrepreneurship.
Explain the concept of entrepreneur & entrepreneurship.
Identify attributes of entrepreneurship.

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Collaborative 1

Summarize the development of entrepreneurship in

Malaysia.

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Collaborative 2

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 CONCEPT & DEVELOPMENT OF
ENTREPRENEURSHIP
Importance of entrepreneurship:
Catalyst for change & growth of national economy-
increase rate of per capita product & income, structural
change of business & society.
Give rise to successful individuals having highly viable &
competitive businesses.
Develop & expand a higher level of culture and attributes
of entrepreneurship.

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Entrepreneurs create wealth, encourage wealth

distribution and contribute to economic well-being.
Entrepreneurs will make the nation more competitive,
open employment opportunities and reduce
unemployment & poverty level.

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 CONCEPT OF ENTREPRENEUR &
ENTREPRENEURSHIP

Entrepreneurs:
Pioneer of successful business activities.
Entreprendre To shoulder or try.
Joseph Schumpeter Theory of Economics
Development introduced the term entrepreneur in
1934.Attributes of entrepreneurs, being, unique,
innovative, creative, change agent and novelty.

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Scarborough & Zimmerer (1998):

Creator of new business and ability to face uncertainties &
acquire profits by seizing opportunities through available
resources.
Kuratko & Hodgetts (2007) Identify opportunities where
others see obstacles and confusion, meticulous, adept at
weighing chances, plans, manages and take on risks as
well as being innovative, profit and growth oriented.

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 ENTREPRENEURSHIP:
Hisrich & Peter (1998):
- Dynamic process to create wealth.
- Take on capital risk, time & career commitment.
- Invent something new via taking financial, psychological
and social risks and acquire profits, personal satisfaction
and freedom.

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Attributes of entrepreneurship:
Kao (1991):
1. Commitment, determination, & strong-willed.
2. Success & Growth oriented.
3. Opportunity & Objective oriented.
4. Initiative & responsible.
5. Continuous decisions.

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 6. Realistic
7. Search & Use feedback.
8. Internal Locust of control.
9. Calculated risks.
10.Less motivated by power & Status.
11.Integrity & trustworthy.

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ISLAMIC PERSPECTIVE:

Mohd Salleh et al., 2005: Attributes;

1. High needs & dedication.
2. Right intentions.
3. Knowledgeable & Skillful in Business.
4. Responsible to All.
5. Prudent & Frugal in using resources.
6. Skilled at making decisions.
7. Future focused.

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 8. Skilled at communication.
9. Quality conscious.
10.Abstain from illegal activities.
11.Avoid excessive debts.
12.Careful & Self-checking.
13.Thankful for succeess.
14.Not spendtrift and Greedy.
15.Always pays debts.

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DEVELOPMENT OF ENTREPRENEURSHIP

Started with Malaccan Sultanate.

British Divide & Rule system :
-Malays: Administraors & Farmers.
-Chinese: Miners & Business people.
-Indians: Plantations sector.
After Independence:
- New Economic Policy. (1971-1990)
- National Development Policy. (1990-2000) & Vision
2020.

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 1995 Creation of Ministry of Entrepreneurial
Development to control & promote development of
entrepreneurship.
2005 Changed to Ministry of Malaysian
Entrepreneurial development and Cooperation.

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As Machiavelli said
years ago

There is nothing more difficult to carry out, nor

more doubtful of success, nor more dangerous to
handle, than to initiate a new order of things.

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Collaborative 14