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Pauline
WHO IS AN ENTREPRENEUR?
An entrepreneur is a Entrepreneurship is person who undertakes the practice of starting, and operates a new new businesses enterprise or venture and assumes some generally in response accountability for the to identified inherent risks with the opportunities. expectation that profits will be made. Entrepreneurship Entrepreneurship is often ranges in scale from difficult, as many new solo proprietorships to ventures fail in the first major corporations) year
SIMILARITIES
OFFICE ADMINISTRATOR & THE ENTREPRENEUR
Oversee the overall administrative details of the organization Must have a good grasp of the operations of the organization Capable of multi-tasking Be efficient Team player Be Creative Meticulous and detailedimportant ingredients for the success of any business
STRATEGIC ENTREPRENEURSHIP
Strategic Vision-Entrepreneurial success depends on the ability to think strategically, have a clear strategic vision What does the future direction of the business look like Craft your Vision and Mission statement to embody the image of the business. Make sure that the mission is in sync with what your clients can expect of you. What is needed and quite often ignored by entrepreneurs is a business strategy .....YOU must have a strategy only way forward Complete a strategic plan-Your strategy is a plan for interacting with the competitive environment to achieve your intended goals ...globalization, CSME Identify your Long term and short term objectives The Strategic Implementation Putting it together to achieve the planned results.
Is IMAGINATION a group process? What is organizational creativity? How are opportunities identified?
What is required to exploit opportunities?
ECONOMIC GROWTH
Entrepreneurship and Economic Growth It is well-established that entrepreneurship plays an important role in job creation and therefore in economic growth and development of various geographic entities from villages to regions and even to entire countries. Thus, to advance the level of growth and development at all geographic levels, some scholars believe we need to encourage, motivate, and support entrepreneurial activities. Look at what can be done through public policy formation to promote entrepreneurial activity? What institutions have the greatest impact on entrepreneurship? Do certain policies increase entrepreneurial firms ability to create jobs and create growth?
INNOVATION
As the global environment moves faster, innovation and its partner, change, are requirements for survival and success.
The role of innovation has been much studied and some place it at the heart of success, certainly as a precursor to change. How does innovation arise? Can we understand the process that creates it? Respond to the market How can we identify and learn from potentially valuable innovations that never make it?
What resources are necessary to create innovation? How can firms enhance the probability that innovations create value and advantage? Why are some firms more innovative than others? Does innovation as an event or process differ in young, small organizations as opposed to large, established organizations? (absorb more shock)
CONTD
7. Make money: if you don't, you can't do anything else. 8. Economise, because doing the most with the least is the name of the game. 9. Flatten the company, so authority is spread over many people. 10. Admit to your failings and shortcomings, because only then will you be able to improve on them. 11. Share the benefits of success widely among those who helped to achieve it. 12. Tighten up the organisation whenever you can because success tends to breed slackness.
JOB CREATION
Promoting a positive attitude towards entrepreneurship through education is increasingly becoming the policy of governments whose objective is to generate more employment through enterprise creation. Many enterprise and entrepreneurship education programmes can be found in schools and communities around the world. Through the encouragement of entrepreneurship we can put a handle on unemployment by creating well needed jobs In order to move Jamaica forward it is important that we stop thinking that we should train our bright young minds for export
QUICK TIPS
Find a Vacuum and Fill It. Do Your Homework. You Won't Be Committed if You're Not Having Fun. Work Hard, Play Hard.
Make the Most of Lucky Breaks. Embrace Change as a Way of Life. Develop Your Contacts.
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