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    BSM1501 Lesson 01

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    khanyisilemahlangu457
    The document defines entrepreneurs as individuals who start their own businesses by identifying opportunities and taking risks. Small business managers oversee existing businesses and do not seek growth. Intrapreneurs are employees who act entrepreneurially within an organization by driving innovation. The key differences are that entrepreneurs found new ventures while small business managers maintain existing ones and intrapreneurs foster growth within a company rather than starting their own.

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    BSM1501 Lesson 01

    Uploaded by

    khanyisilemahlangu457
    11 views10 pages
    The document defines entrepreneurs as individuals who start their own businesses by identifying opportunities and taking risks. Small business managers oversee existing businesses and do not seek growth. Intrapreneurs are employees who act entrepreneurially within an organization by driving innovation. The key differences are that entrepreneurs found new ventures while small business managers maintain existing ones and intrapreneurs foster growth within a company rather than starting their own.

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    BSM1501=LESSON 01

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    The document defines entrepreneurs as individuals who start their own businesses by identifying opportunities and taking risks. Small business managers oversee existing businesses and do not seek growth. Intrapreneurs are employees who act entrepreneurially within an organization by driving innovation. The key differences are that entrepreneurs found new ventures while small business managers maintain existing ones and intrapreneurs foster growth within a company rather than starting their own.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    11 views10 pages

    BSM1501 Lesson 01

    Uploaded by

    khanyisilemahlangu457
    The document defines entrepreneurs as individuals who start their own businesses by identifying opportunities and taking risks. Small business managers oversee existing businesses and do not seek growth. Intrapreneurs are employees who act entrepreneurially within an organization by driving innovation. The key differences are that entrepreneurs found new ventures while small business managers maintain existing ones and intrapreneurs foster growth within a company rather than starting their own.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 10

    LESSON 1 – PART 1

    ENTREPRENEURSHIP AND SMALL,


    MEDIUM AND MICRO ENTERPRISES
    IN PERSPECTIVE
    Business Management Fundamentals 1A
    BSM1501

    Open Rubric
    CONTENT AND LEARNING OBJECTIVES COVERED

    • Definition of entrepreneur
    • Definition of small business manager
    • Definition of intrapreneur
    • LO: Distinguish between the terms “entrepreneur”, “intrapreneur” and “small business
    manager”
    • Similarities and differences between entrepreneurship, intrapreneurship and small
    business management
    • LO: Critically compare the similarities and differences between entrepreneurship,
    intrapreneurship and small business management
    2
    Distinguish between
    the terms
    “entrepreneur”,
    LEARNING OUTCOME “intrapreneur” and
    “small business
    manager”

    3
    ENTREPRENEUR
    Definition of an entrepreneur

    • Ability to identify and seize opportunities


    • Create and develop a business by adding value
    • Applying resources: finance, time, effort, people, skills
    • Willingness to take calculated risks
    • Organise, manage, achieve results

    4
    ENTREPRENEUR
    Characteristics of an entrepreneur

    • Starts own enterprise


    • Manages it
    • Identifies new opportunities
    • Is creative and innovative
    • Organises and controls resources
    • Ability to market, produce, finance a product/service
    • Willingness to take risks
    • Responsible for growth
    5
    SMALL BUSINESS MANAGER
    Definition of a small business manager

    • Manages existing business or franchise without ensuring growth


    • Works in a lifestyle business with insufficient income
    • Satisfied with no-growth, single-premise business
    • Inherits/takes over business without expansion/improvement
    • Appointed by owner as manager

    6
    SMALL BUSINESS MANGER
    Role of a small business manager

    • Plan, organise, lead, control business functions


    • Ensure efficient task performance
    • Foster interpersonal and inter-group competence
    • Facilitate formal communication
    • Develop and implement policies and procedures

    7
    INTRAPRENEUR
    Definitions of intrapreneurship and an intrapreneur

    • Corporate Entrepreneurship
    • Also known as Intrapreneurship
    • Occurs within existing organisations
    • Intrapreneur definition
    • Employee with entrepreneurial abilities
    • Utilises entrepreneurial abilities within an existing organisation
    • Identifies opportunities without starting own enterprise
    • Drives innovation and growth within the company
    8
    Critically compare
    the similarities and
    differences between
    LEARNING OUTCOME entrepreneurship,
    intrapreneurship and
    small business
    management
    9
    ENTREPRENEUR, SMALL BUSINESS MANAGER & INTRAPRENEUR
    Main characteristics

    Entrepreneur Small business manager Intrapreneur


    Starts and manages own enterprise Manages an enterprise (owner) Employee with entrepreneurial
    (owner) abilities
    Identifies opportunities and seizes Does not identify new opportunities Identifies business opportunities
    them within an existing enterprise
    Takes new risks Carries financial risk. Do not take Do not want to take risks
    new risks.
    Creative and innovative Run enterprise in same way as Creative and innovative
    predecessor. No creativity or
    innovation.
    Responsible for growth Does not ensure growth (only profit Responsible for growth
    and survival)
    10

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