INTRODUCTION TO ENTREPRENEURSHIP

INTRODUCTION TO ENTREPRENEURSHIP

Introduction of entrepreneurship is a course where students learn how to build and how a business works.This course provides an overview of essential entrepreneurial concepts in a broad context. In this course, students will learn basic theories and ways to create a successful business using the concepts learned.

Through this assignment, we are required to research on entrepreneurs and traits portray by each entrepreneurs. As a result, this assignment provides an understanding on importance of entrepreneurial skills in creating successful business. Entrepreneurial principles and skills are very important not only in starting and running a company but also in our daily life. This is proven by successful entrepreneurs in Malaysia and in the world.

Entrepreneur is  someone who exercises initiative by organizing a venture to take benefit of an opportunity and as the decision maker, decides what, how, and how much of a good or service will be produced. Entrepreneurs can also be defined as a person who operates a business is so successful. An entrepreneur supplies risk capital as a risk taker, and monitors   and controls the business activities. The entrepreneur is usually a sole proprietor, a partner, or the one who owns the majority of shares in an incorporated venture. According to economist Joseph Schumpeter (1883-1950), entrepreneurs are not necessarily motivated by profit but regard it as a standard for measuring achievement or success. Schumpeter discovered that they greatly value self-reliance, strive for distinction through excellence, are highly optimistic otherwise nothing would be undertaken, and always favor challenges of medium risk neither too easy, nor ruinous.

In conclusion, successful entrepreneurs should be our role model in order to be successful in life and lead a better, challenging and adventurous life.