Chapter 1 Entrepreneurship

Chapter 1 Entrepreneurship - Chapter 1: Entrepreneurship...

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Chapter 1: Entrepreneurship 1 Chapter 1: Entrepreneurship 1 Anup Chowdhury, Lecturer, BBS, BU The Foundations of Entrepreneurship Chapter 1: Entrepreneurship 2 Anup Chowdhury, Lecturer, BBS, BU The World of the Entrepreneur ± A new business is born every 11 seconds in the United States ± One of 12 Americans is actively involved in trying to start a new business. ± New business incorporations averaged 600,000 per year ± 807,000 new small firms were established in 1995, an all-time record ± Small business (< 500 employees) employ 53% of the private work force and account for 47% of sales and 51% of private sector gross domestic product (GDP) Entrepreneurial Activity Across the Globe (2002) 1.4% 1.6% 1.8% 2.0% 2.2% 3.3% 3.4% 5.4% 6.8% 10.5 % 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% Percent Finland Japan France Den mark Germany Great Britain Ita ly Israel Canada United States Country Percentage of Adult Population Working to Start a New Business Thailand and India led the world with 18.9 and 17.9 percent. Chapter 1: Entrepreneurship 4 Anup Chowdhury, Lecturer, BBS, BU Self-Employment, 1966-2006 Thousands 2,000 4,000 6,000 8,000 10,000 12,000 14,000 Agriculture Non-agriculture 2,136 5,991 8,127 1,646 5,783 7,428 1,447 7,881 9,327 1,518 8,971 10,490 1,519 10,096 11,615 Chapter 1: Entrepreneurship 5 Anup Chowdhury, Lecturer, BBS, BU What is an Entrepreneur? One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them. Example: Attorney Chantelle Ludiski – Coffee Shop – Retail stores and Warehouse (Largest supermarket in UK) Chapter 1: Entrepreneurship 6 Anup Chowdhury, Lecturer, BBS, BU Common Themes in Definitions of Entrepreneurship Defining Entrepreneurship The Entrepreneur Innovation Organization Creation Creating Value Profit or Nonprofit Growth Uniqueness Process
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Chapter 1: Entrepreneurship 2 Chapter 1: Entrepreneurship 7 Anup Chowdhury, Lecturer, BBS, BU The Entrepreneurial Process Exploring the Entrepreneurial Context Identifying Opportunities/Possible Competitive Advantage Starting the Venture: ± Researching Feasibility ± Planning the Venture ± Organizing the Venture ± Launching the Venture Managing the Venture: ± Managing Processes ± Managing People ± Managing Growth ± Special Issues Chapter 1: Entrepreneurship 8
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This note was uploaded on 04/24/2011 for the course BUS 321 taught by Professor Sanaulmostafa during the Spring '09 term at BRAC University.

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Chapter 1 Entrepreneurship - Chapter 1: Entrepreneurship...

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