Topic 1:

Entrepreneurship mean

The capacity and willingness to develop, organize and manage a business venture along with any of its

risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new

businesses.

In economics, entrepreneurship combined with land, labor, natural resources and capital can produce

profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a

nation's ability to succeed in an ever changing and increasingly competitive global marketplace.

Entrepreneurship education seeks to provide students with the knowledge, skills and motivation to

encourage entrepreneurial success in a variety of settings.

Variations of entrepreneurship education are offered at all levels of schooling from primary or secondary

schools through graduate university programs

How Do You Define Entrepreneurship?

Many individuals define entrepreneurship as going after opportunities without worry, fear, or limitations.

Entrepreneurship can be defined as the desire of one to make a difference in their lives and lives others

by giving something of value to oneself and others. Entrepreneurship is a way for individuals to grow and

improve their local communities. Many people have come to realize that small business and

entrepreneurship help to shape and grow local communities. Also, entrepreneurship helps to shape and

grow the local government based on the development of laws and policies.

There are five major parts of the entrepreneurship process in the commercial world of today:

1. Recognition of opportunity. In entrepreneurship, there is the great recognition that many

opportunities exist in the world to create value. Some examples of such valuable opportunities are as

follows: a. needs that have to be met; b. new public policy being created; and c. consumer tastes

changing.

2. Individuals developing concepts. There are always ways for individuals to create opportunities of great

value. For example, a shift in customer tastes can open the door for a new product to be developed that

will fulfill that shift in tastes.

3. Determination and acquisition of needed resources. With starting a business, one needs to ensure

that they have the needed resources to start that business. Here are a few of the resources needed for

one to acquire, in order to have a successful business: a. some money; b. the right information and data;

and c. human resources.

4. The proper launch and growth of the business venture. In entrepreneurship, once an individual

recognizes a business opportunity and the necessary resources have been gathered. It is time to launch

your new business venture. But, the entrepreneur now has to maximize their resources in order to grow

and make the business profitable. To maintain the profitability of the business, an entrepreneur has to do

the following:

o Invest in the business continually;

o Continue to strategize, on a regular basis, on how to keep the business growing;

o Ensure to have good human resource policies to acquire and maintain good employees; and

o Develop methods and techniques to deal with inevitable conflict.

5. Have to continue to harvest and grow the business venture. The entrepreneur must ensure that the

business can outlast them once they have exited the business. Exiting of the business can occur in the

following ways:o Owner can take the business public;

o The business can be sold to another company;

o Assets being liquidated; and

o Having one’s heirs take over the business.

Topic 21. Define and explain what constitutes the entrepreneurial mind.

2. Is an entrepreneur born or made? Explain.

3. Why are the seven themes of characteristics and attributes critical in crafting and developing successful entrepreneurs? Give an example of a successful entrepreneur having these attributes.

4. How does self-assessment contribute to the selection of potential entrepreneurs?

6. Explain what is meant by entrepreneurship process and how it differs from the concept of entrepreneurship. Give examples to substantiate your explanation.

Topic 31. What is sustainability? How does it relate to entrepreneurial opportunities?

2. Cite two examples of projects that you are familiar with you have read/picked up from the Internet that contain elements of sustainability.

3. How do you know if your idea can become an opportunity?

4. What are the sources of ideas that would help you find good opportunities? Where would you search for the information?

Topic 41. Explain the differences between socially responsible ventures, social ventures and non-profit enterprising.

2. Is social entrepreneurship part of Corporate Social Responsibility (CSR)? Explain and give an example.3. Identify a problem or a trend in Malaysia that has an element of wicked problems. What types of opportunities might emerge for social enterprising?

Topic 51. Explain what a business plan is and who are the potential users. 2. Who is responsible for preparing a business plan and what should he/she consider to prevent the plan from becoming a flawed document?3. What are the elements considered for a complete business plan?4. How does a business plan help an entrepreneur to search for the best team members, directors and value-added investors?

Topic 61. Think of an entrepreneur as a leader and a manager of a company and explain how these two differ.2. Which stage(s) of the venture growth require(s) entrepreneurs to be managing managers? Explain why.3. Why do you think team philosophy and attitudes are very important in venture growth? Give specific examples.4. In putting a team together, what types of rewards, compensation and incentives does an entrepreneur consider and provide? How does he/she manage the process?5. Can you identify and describe the key characteristics of the most entrepreneurial and the least entrepreneurial companies?

Topic 71. What are the thinking and approaches entrepreneurs use towards resources?2. Identify the advantages of creative bootstrapping resources. Cite two examples.3. Do you think the current technology in Internet and online search benefit entrepreneurs? Explain the way(s).4. Identify the criteria of selecting external consultants, board members, advisors and the like. Why is it important to use these criteria?

Topic 8

1. Why do you think terms such as burn rate, free cash flow, financial management myopia, spreadsheet mirage and getting beyond “collect early, pay late” are very important in entrepreneurial financing?2. Why would an entrepreneur in venture creation need answers to key questions that have an impact on strategic business decisions and financial plans and choices?3. Describe the three main critical financing issues and discuss the variables affected by actions to address these critical issues.4. How does financial framework work in entrepreneurial financing? Please elaborate with an example.

5. What are the factors critical in finding and selecting an investor and why are these important?