Entrepreneurship-and-Ordinary-Small-Business-Activity.pptx

Entrepreneurs hip and Ordinary Small Business Activity  Learning Outcomes At the end of this lesson, the learner should be able to: 1. Distinguish between entrepreneurship and ordinary small business *This lesson outlines the differences activity, and...

Entrepreneurs hip and Ordinary Small Business Activity  Learning Outcomes At the end of this lesson, the learner should be able to: 1. Distinguish between entrepreneurship and ordinary small business *This lesson outlines the differences activity, and between entrepreneurship and the activities of ordinary small business. Knowing them will help you assess 2. Determine the importance yourself if you are an entrepreneur or a mere owner of an ordinary small Difference Between The Activities Of The Motive in opening a Ordinary Small business Business And Perception of risk in the Entrepreneurship:​ business Reactions to the changes in the environment View on competition Vision on development and growth Horizon of business operation  Motive in Opening a Business ENTREPRENEURS ORDINARY SMALL HIP BUSINESS o Start a business o Opens a business venture based on with the primary goal entrepreneurial of making it his or concepts and principles her source of and the aspiration to livelihood. become successful o Operates the o Constantly on the business with a basic lookout for new and motive of earning fresh ideas found in the profit business environment.  PERCEPTION OF RISK IN THE BUSINESS ENTREPRENEURS ORDINARY SMALL HIP BUSINESS o Entrepreneur takes o Owner believes that and faces business the risk is deterrent risk squarely. to the operation of the business of the business and must be avoided.  REACTIONS TO CHANGES IN THE ENVIRONMENT ENTREPRENEURS ORDINARY SMALL HIP BUSINESS o Reacts positively to the o Remains passive and changes in the static to changes in the environment. environment where o Changes in the business he/she operates. environment bring new o Believes that change in ideas for entrepreneurial the environment is not a opportunities. plus factor to the daily o Changes is a creative operates but rather a mechanism for source of negative consequences.  VIEW ON COMPETITION ENTREPRENEURS ORDINARY SMALL HIP BUSINESS o For entrepreneur, the o Owner views presence of competition as an competition is a sign unhealthy element in of a healthy economic the business environment. environment and tried o Force to improve to avoid it. present products and o Discourages services. competition and uncomfortable working  VISION FOR DEVELOPMENT AND GROWTH ENTREPRENEURS ORDINARY SMALL HIP BUSINESS o The entrepreneur usually o Owner relies upon the outline the course of his chance or luck in or her entrepreneurial maintaining the status venture in term of short- quo of his or her term, medium-term, and business. long-term plans of action. o Not so much concerned about the development o The vision and mission of the business is clear. and growth as long as he/she is satisfied with its earnings.  HORIZON OF BUSINESS OPERATION ENTREPRENEURS ORDINARY SMALL HIP BUSINESS o Entrepreneur thinks o Owner is centered globally but acts only on the local locally. environment. o Concerned with the o Expansion has never major economic been an idea worth events both local and entertaining for the global business owner. markets.  SOURCES OF BUSINESS FUNDS ENTREPRENEURS ORDINARY SMALL HIP BUSINESS o Entrepreneur finds that o Owner tends to limit the proposed business the funding of his or endeavor is a wealth- her business creating venture, he or enterprise to personal she explores ways to resources. generate the much- needed funds from o Fears that financial both internal and institutions will not external resources. willing to extend financial assistance to "the happiness of every human being's soul is in his hands, to preserve and develop or to cast away." Thank you