Module 1
THEORIES & CONCEPT
OF ENTREPRENEURSHIP
Lesson Outcome:
At the end of the session, students should
be able to:
1.Understand the various theories and
concepts on entrepreneurship
2.Have a deeper understanding of the
discipline of entrepreneurship
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Definition of Entrepreneurship:
Entrepreneurship involves not only the process
that leads to the setting up of a business entity
but also the expansion and development of an on
going concern .
The study of entrepreneurship is concerned with
the entrepreneurial behavior, the dynamics of
business set up and expansion and development.
THE EVOLUTION OF
ENTREPRENEURSHIP THEORY
Definition of an Entrepreneur :
THE EVOLUTION OF
ENTREPRENEURSHIP THEORY
Definition of an Entrepreneur :
THE EVOLUTION OF
ENTREPRENEURSHIP THEORY
Definition of an Entrepreneur :
7. IBNU KHALDUN
(ABDUL RAHMAN MOHAMED KHALDUN)
8. DAVID MCCLELLAND
An entrepreneur is a person
who undertakes to do a job
Richard Cantillon (1755).
The term entrepreneur is a
French word first coined by
Richard Cantillon.
In Malaysia the term usahawan is used for
entrepreneur.
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Factors of Production
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Ibnu Khaldun
(Abdul Rahman Mohamed Khaldun)
The entrepreneur is seen as a
knowledgeable individual and is
instrumental in the development
of a city-state where enterprise
will emerge
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David McClelland
The entrepreneur is a
person with a high need for
achievement. This need for
achievement is directly
related to the process of
entrepreneurship.
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DEFINITION OF ENTREPRENEURSHIP
It is more than mere creation of business
Entrepreneurship is a process of
innovation and new venture creation
through four major dimensions
individual, organizational,
environmental and process
The entrepreneurship process is aided by
collaborative networks in government,
education and institutions.
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DEFINITION OF ENTREPRENEURS
Functional definition of entrepreneurs
offers the following definition:
Entrepreneurs are individuals who
actively form or lead their own
business and nurture them for growth
and prosperity.
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THE IMPORTANCE OF
ENTREPRENEURSHIP
TO MALAYSIAN
ECONOMY
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ISLAMIC
ENTREPRENEURSHIP
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2. HUMAN NATURE
3. MOTIVATION
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Saadah
Spiritual happiness
Jannah
Taufiq
Halal
Qanaah
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Level of Knowledge
Level of Taubat or repentence
Level of Temptation
Level of Obstacles
Level of Motivation
Level of Handicap
Level of Praise and Thankfulness
1.
4. IBADAH
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Allah Prepared
(Facilities)
Islam Outlined
(Rules and Regulation)
Allah Promised
(Reward)
E
X
A
M
P
L
E
To prevent laziness
To eradicate fear
To search for legitimate ventures
To avoid forbidden sources of income
and property
To show gratitude and thankfulness of
whatever has been acquired
To grow and develop capital and profit
To diversify business ventures
To avoid greediness
END OF MODULE 1
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