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    Ch#1

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    Belal Swidan S
    The document provides information about entrepreneurship from several sources: 1) In the US, about 18.7% of adults prefer to start their own business, and most entrepreneurs start thinking about businesses between ages 18-24. 2) In Egypt, 65.5% of non-entrepreneurs have an interest in starting a business, and entrepreneurship is seen as a good career choice by 83.4% of Egyptians. Egypt's rate of new business starts is 14.3% of the population. 3) Entrepreneurship and small- and medium-sized enterprises make up 25% of Egypt's GDP, and provide over 80% of non-agricultural private sector

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    Ch#1

    Uploaded by

    Belal Swidan S
    19 views25 pages
    The document provides information about entrepreneurship from several sources: 1) In the US, about 18.7% of adults prefer to start their own business, and most entrepreneurs start thinking about businesses between ages 18-24. 2) In Egypt, 65.5% of non-entrepreneurs have an interest in starting a business, and entrepreneurship is seen as a good career choice by 83.4% of Egyptians. Egypt's rate of new business starts is 14.3% of the population. 3) Entrepreneurship and small- and medium-sized enterprises make up 25% of Egypt's GDP, and provide over 80% of non-agricultural private sector

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    The document provides information about entrepreneurship from several sources: 1) In the US, about 18.7% of adults prefer to start their own business, and most entrepreneurs start thinking about businesses between ages 18-24. 2) In Egypt, 65.5% of non-entrepreneurs have an interest in starting a business, and entrepreneurship is seen as a good career choice by 83.4% of Egyptians. Egypt's rate of new business starts is 14.3% of the population. 3) Entrepreneurship and small- and medium-sized enterprises make up 25% of Egypt's GDP, and provide over 80% of non-agricultural private sector

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    19 views25 pages

    Ch#1

    Uploaded by

    Belal Swidan S
    The document provides information about entrepreneurship from several sources: 1) In the US, about 18.7% of adults prefer to start their own business, and most entrepreneurs start thinking about businesses between ages 18-24. 2) In Egypt, 65.5% of non-entrepreneurs have an interest in starting a business, and entrepreneurship is seen as a good career choice by 83.4% of Egyptians. Egypt's rate of new business starts is 14.3% of the population. 3) Entrepreneurship and small- and medium-sized enterprises make up 25% of Egypt's GDP, and provide over 80% of non-agricultural private sector

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 25

    Chapter 1

    Introduction to Entrepreneurship

    Masters Class, Fall 2020


    Global Entrepreneurship Monitor
    Report (GEM 2017)
    Abroad:
     Almost 18.7% of adult population in the U.S. prefer to
    start their private business.

     Entrepreneurs start thinking of their own businesses


    when they are between the ages of 18 - 24.
    Global Entrepreneurship Monitor Report

    Egypt: • Egyptians (non-entrepreneurs) surveyed


    65.5% had interest /intention to start a business.

    Egyptians perceive Entrepreneurship as a


    83.4% good career choice.

    • Percentage of population in Egypt starting


    14.3% a new business.
    Global Entrepreneurship Monitor Report
    (cont’d)

    Egypt:
    1 in • One in every 4 Entrepreneurs in
    every 4 Egypt is a woman.

    • Entrepreneurship and SME’s in Egypt


    25% constitute 25% of total GDP.

    • Entrepreneurship provides more than 80% of


    80% the jobs in the non-agricultural private sector.
    MENA Region – Egypt, the highest

    “According to a report by MAGNiTT, a renowned startup


    platform, Egypt recorded the highest number of startup
    funding and investment deals in the Middle East and North
    Africa (MENA) region, during the first quarter of 2020,
    achieving 37% of the total number of deals.”
    (MCIT source).

    MAGNiTT is the largest data platform for investors, founders and corporates
    in the Middle East. It is based in Dubai and is the largest online community
    for startups across the MENA region.
    Who is an Entrepreneur

    One who develops a new


    business / novel idea
    considering risk and
    uncertainty for the purpose of
    achieving profit.
    Who is an Entrepreneur? (cont’d)
     Oxford dictionary defines an Entrepreneur as:
    “a person who sets up a business or businesses, taking
    financial risks in the hope of profit”.

     Merriam-Webster defines it as:


    “one who organizes, manages, and assumes the risks of
    a business or enterprise”.
    Who is an Entrepreneur? (cont’d)

     Peter Drucker, the Father of Modern Management,


    said:
    o “Innovation is the specific tool of entrepreneurs, the
    means by which they exploit change as an opportunity
    for a different business or a different service.
    o Entrepreneurs need to search purposefully for the
    sources of innovation, the changes and their symptoms
    that indicate opportunities for successful innovation. And
    they need to know and to apply the principles of
    successful innovation”.
    Who is an Entrepreneur? (cont’d)
    Creative/open
    mind

    Gain/share Innovative
    profits ideas

    With….
    the conception of
    Risk taker and helping the
    Own your own society & the
    manages
    business economy.
    responsibility
    Impact of Entrepreneurship on the
    Economy & Society
     Job creation

     Formation of new industries

     Creating industry clusters; making economies more


    export oriented and more powerful.
    The “Dance of Entrepreneurship”

    By Rajesh Setty - Active Garage


    http://www.activegarage.com/the-dance-of-entrepreneurship
    The “Dance of Entrepreneurship”

    The Beginning

    Purpose People

    Passion

    Problem Plan
    The “Dance of Entrepreneurship”
    (cont’d)

    The Journey

    Patience Perseverance

    Persistence

    Pain Politics
    The “Dance of Entrepreneurship”
    (cont’d)

    The New beginning

    Pride Profits

    Power

    Possibilities Philanthropy
    Traits of an Entrepreneurship
     Ready to take responsibility and know how to manage
    risk.

     Obstacle handler.

     Converts problems to opportunities.

     Proactive.

     Fails intelligently!
    Traits of an Entrepreneurship (cont’d)
     Owns long term vision.

     Confident.

     Knowledgeable.

     Enjoys failure!

     Broad network of relationships.


    Can you become an entrepreneur?

    Think

    mm..maybe?

    YES
    Can we become entrepreneurs? (cont’d)

    Anyone can
    Entrepreneurs Invest in
    be an
    are made yourself
    entrepreneur

    Think outside Calculate the


    Dream bold
    the box risk

    Make it an
    Define/identify
    enjoyable
    the opportunity
    experience
    Why to become an Entrepreneur?

     Be your own boss.


     Empowerment to utilize your full energy.
     Look and act different from others.
     Way to give back and inspire others to do that as well.
     Earn profit.
     Fulfill your passion with great enjoyment
     You can be socially recognized for your efforts.
    Types of Entrepreneurship

    1. Small Business Entrepreneurship


     Anyone who runs his/her own business like carpenters,
    plumbers, electricians, etc. They hire local employees or
    family.

     Most are barely profitable. Their definition of success is to


    feed the family and make a profit, not to take over an
    industry.

     As they can’t provide the scale to attract venture capital,


    they fund their businesses via friends/family or small
    business loans.
    Types of Entrepreneurship (cont’d)

    1. Small Business Entrepreneurship


     Today, the overwhelming number of entrepreneurs and
    startups in the United States are still small businesses.

     Previous years statistics shows: There are 5.7 million


    small businesses in the U.S. They make up 99.7% of all
    companies and employ 50% of all non-governmental
    workers.
    Types of Entrepreneurship (cont’d)

    2. Scalable Startup Entrepreneurship


     They start a company knowing from day one that their
    vision could change the world.

     They attract investment from equally crazy financial


    investors – venture capitalists.

     They hire the best and the brightest. Their job is to search
    for a repeatable and scalable business model.
    Types of Entrepreneurship (cont’d)

    3. Large Company Entrepreneurship


     They have finite life cycles. Most grow through sustaining
    innovation, offering new products that are variants around
    their core products.

     Changes in customer tastes, new technologies, legislation,


    new competitors, etc. can create pressure for more
    disruptive innovation – requiring large companies to
    create entirely new products sold into new customers in
    new markets.
    Types of Entrepreneurship (cont’d)

    4. Social Entrepreneurship
     Social entrepreneurs are innovators focus on creating
    products and services that solve social needs and
    problems.

     Unlike scalable startups their goal is to make the world a


    better place, not to take market share or to create to wealth
    for the founders. They may be nonprofit, for-profit, or
    hybrid.
    Thank you.

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