Why Entrepreneurship?

Delivering Entrepreneurship Education into technical

and vocational education and training programs:
Create awareness of enterprise and self-employment as a
career option.
Develop positive attitudes towards enterprise creation
and self-employment.

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 WHY ENTREPRENEURSHIP
EDUCATION?

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 Why Entrepreneurship?
Delivering Entrepreneurship Education into technical
and vocational education and training programs:
Provide knowledge, skills and practice of the required attributes
and challenges for starting and operating a successful enterprise,
particularly a MSEs.
Prepare young women and men to work productively in MSEs
and, more generally, for an environment in which formal, full-time
wage employment may be scarce or unavailable.

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 Why Cont’d…
• Therefore, Entrepreneurship contributes a lot to decrease the
number of unemployed people as it stimulates more people to

create jobs for themselves and others.

• Job creation depends in large part upon the initiation and
expansion of MSEs by Entrepreneurs.
• Entrepreneurs have the ability to generate new ideas and develop
new products/services that create new MSEs, which in turn
create the need for new jobs.

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 Why Cont’d…
• Entrepreneurs are key individuals who promote & exploit change
and initiate regional and local development because the activities
of most entrepreneurs are oriented toward the immediate
environment in which they live (community) and work (either as
employees or employers).
– If the entrepreneurs prosper, the
communities in which they operate will
also prosper.

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 Why Cont’d…
• The reason why entrepreneurs initiate businesses within their
communities is to gain different types of rewards like:
 personal satisfaction,
 achievement orientation,
 need for recognition,
 expression of leadership ability,
 self-motivation, and
 profits.

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 Economic Operations
• Entrepreneurship, through the creation of new ventures or
taking place within existing firms, represents one of the major
engines of economic growth.
• There is an intimate relationship between entrepreneurship and
regional and local development.
• By adopting an entrepreneurial approach both individuals and
society are able to accelerate their progress towards a better life
as entrepreneurship is the engine for local economic growth.

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 Economic …
RESOURCE CONSUMERS
OWNERS

INDIVIDUALS

GOVERNMENT

Labor, land and capital BUSINESS Goods and Services

FIRMS

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 Economic …
 The above flows show:
 how the input market and the output market are joined
together to coordinate and determine how resources are used.
 the position/role of the government in the economic system.

 wealth is created through processing of resources in to goods

and services.

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 Economic …
 The
 Products and Services
 Employment
 Income (wages, salaries and profits)
 Taxes
 Disposable income
 Investment in productive assets
 National well-being
 Environmental sustainability

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 Economic …

Public Sector
Wage/salary

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 Importance of Entrepreneurship
 Employment creation
 Local resources utilization
 Decentralization and diversification of business
 Promotion of technology
 Capital formation
 Promotion of an entrepreneurial culture
 Sustainable utilization of natural resources

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 Roles of Entrepreneurship in Business
• Improve the Business Environment by:
 Creating jobs
 Promoting free enterprise
 Promoting healthy competition
 Generating wealth
 Spreading prosperity
 Ensuring innovation and creativity
 Encouraging grassroots development
 Improving social and community conditions
 Promoting economic growth
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 Roles of…
• Improve the Business Environment Through:

 Observing and identifying opportunities in the

business, or non-business environment
 Gathering the necessary resources as well as
considering the impact of using these resources on
the natural environment.
 Implementing the activity and receiving the financial
or social rewards.
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 Thank You for
Your
Attention!

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