Entrepreneurs and Entrepreneurship
An entrepreneur is a person, while entrepreneurship is a process.
Entrepreneurs are skilled organizers of activities who:
1. Identify the needs and wants for products or services;
2. Generate ideas on how to provide the needed products or services;
3. Evaluate whether any of the ideas present a viable and profitable venture opportunity;
4. Develop a plan of action (i.e. through a business plan)
5. Implement the plan
Entrepreneurshipinvolves bringing about change to achieve some benefit. This benefit may be financial but it also involves the satisfaction of knowing you have changed something for the better. It involves the recognition of opportunities (needs, wants, and problems) and the use of resources to implement innovative ideas for new, thoughtfully planned ventures.
Entrepreneurship is:
1. A creative process in which resources are organized and used in a venture that
satisfies both personal needs or wants and the needs or wants of others.
2. The realization of an opportunity. It involves the gathering of resources and the
assumption of risks in an attempt to make things happen in a creative venture.
3. The mobilization of resources from one level of productive use to a higher level of use.
4. The creation and building of something of value from practically nothing.
5. The process of creating or seizing an opportunity and pursuing it, regardless of the
resources currently controlled.
Entrepreneurship involves:
1. Recognizing the opportunities presented by change that others have not had the
courage to act on.
2. Turning the creativity of dreams into reality.
3. Trial and error and experimentation.
4. Taking controllable risks (i.e. taking calculated chances rather than gambling or
relying on sheer luck.)
5. Costs other than money: time, energy, reputation, emotional drains.
6. Reality testing: recognizing realistic limits imposed by the economy, physical
resources available, actions of competitors, personal abilities and talents, etc.
7. The definition, creation, and distribution of value and benefits to individuals, groups,
organizations, and society.
8. Finding the personal energy to initiate and build an enterprise or organization, rather
than just watching, analysing, or describing one.
9. Having a vision and then having the passion, commitment, and motivation to transmit
this vision to other stakeholders, such as partners, financial backers, employees,
suppliers, and customers.
10. A willingness to take responsibility for the risks – both personal and financial – while
doing everything possible to influence the odds.
11. Building a team of people with complementary skills and talents; of sensing
opportunities, while others see chaos, contradiction, and confusion; finding,
marshalling, and controlling resources (often owned by others) to pursue the
opportunity.
BDI3C
Entrepreneurs and Entrepreneurship
Homework:
1. Using the entrepreneurship descriptors above as a checklist, check all that apply to
David Suzuki, Joseph-Armand Bombardier, Cirque du Soleil, and Sir Samuel Cunard.
2. Read through the note on Entrepreneurs and Entrepreneurship. List all of the
characteristics and skills that this note implies are needed for someone who wants to
be an entrepreneur and someone involved in Entrepreneurship.
For example:
1. Resourceful
BDI3C
Who’s the Entrepeneur
Entrepreneurs and Entrepreneurship
Name of Entrepreneur: ______
1. A creative process in which resources are organized and used in a venture that
satisfies both personal needs or wants and the needs or wants of others.
2. The realization of an opportunity. It involves the gathering of resources and the
assumption of risks in an attempt to make things happen in a creative venture.
3. The mobilization of resources from one level of productive use to a higher level of
use.
4. The creation and building of something of value from practically nothing.
5. The process of creating or seizing an opportunity and pursuing it, regardless of the
resources currently controlled.
Entrepreneurship involves:
1. Recognizing the opportunities presented by change that others have not had the
courage to act on.
2. Turning the creativity of dreams into reality.
3. Trial and error and experimentation.
4. Taking controllable risks (i.e. taking calculated chances rather than gambling or
relying on sheer luck.)
5. Costs other than money: time, energy, reputation, emotional drains.
6. Reality testing: recognizing realistic limits imposed by the economy, physical
resources available, actions of competitors, personal abilities and talents, etc.
7. The definition, creation, and distribution of value and benefits to individuals,
groups, organizations, and society.
8. Finding the personal energy to initiate and build an enterprise or organization,
rather than just watching, analysing, or describing one.
9. Having a vision and then having the passion, commitment, and motivation to
transmit this vision to other stakeholders, such as partners, financial backers,
employees, suppliers, and customers.
10. A willingness to take responsibility for the risks – both personal and financial –
while doing everything possible to influence the odds.
11. Building a team of people with complementary skills and talents; of sensing
opportunities, while others see chaos, contradiction, and confusion; finding,
marshalling, and controlling resources (often owned by others) to pursue the
opportunity
BDI3C
Who’s the Entrepeneur
Entrepreneurs and Entrepreneurship
Name of Entrepreneur: ______
1. A creative process in which resources are organized and used in a venture that
satisfies both personal needs or wants and the needs or wants of others.
2. The realization of an opportunity. It involves the gathering of resources and the
assumption of risks in an attempt to make things happen in a creative venture.
3. The mobilization of resources from one level of productive use to a higher level of
use.
4. The creation and building of something of value from practically nothing.
5. The process of creating or seizing an opportunity and pursuing it, regardless of the
resources currently controlled.
Entrepreneurship involves:
1. Recognizing the opportunities presented by change that others have not had the
courage to act on.
2. Turning the creativity of dreams into reality.
3. Trial and error and experimentation.
4. Taking controllable risks (i.e. taking calculated chances rather than gambling or
relying on sheer luck.)
5. Costs other than money: time, energy, reputation, emotional drains.
6. Reality testing: recognizing realistic limits imposed by the economy, physical
resources available, actions of competitors, personal abilities and talents, etc.
7. The definition, creation, and distribution of value and benefits to individuals,
groups, organizations, and society.
8. Finding the personal energy to initiate and build an enterprise or organization,
rather than just watching, analysing, or describing one.
9. Having a vision and then having the passion, commitment, and motivation to
transmit this vision to other stakeholders, such as partners, financial backers,
employees, suppliers, and customers.
10. A willingness to take responsibility for the risks – both personal and financial –
while doing everything possible to influence the odds.
11. Building a team of people with complementary skills and talents; of sensing
opportunities, while others see chaos, contradiction, and confusion; finding,
marshalling, and controlling resources (often owned by others) to pursue the
opportunity
BDI3C
Who’s the Entrepeneur
Entrepreneurs and Entrepreneurship
Name of Entrepreneur: ______
1. A creative process in which resources are organized and used in a venture that
satisfies both personal needs or wants and the needs or wants of others.
2. The realization of an opportunity. It involves the gathering of resources and the
assumption of risks in an attempt to make things happen in a creative venture.
3. The mobilization of resources from one level of productive use to a higher level of
use.
4. The creation and building of something of value from practically nothing.
5. The process of creating or seizing an opportunity and pursuing it, regardless of the
resources currently controlled.
Entrepreneurship involves:
1. Recognizing the opportunities presented by change that others have not had the
courage to act on.
2. Turning the creativity of dreams into reality.
3. Trial and error and experimentation.
4. Taking controllable risks (i.e. taking calculated chances rather than gambling or
relying on sheer luck.)
5. Costs other than money: time, energy, reputation, emotional drains.
6. Reality testing: recognizing realistic limits imposed by the economy, physical
resources available, actions of competitors, personal abilities and talents, etc.
7. The definition, creation, and distribution of value and benefits to individuals,
groups, organizations, and society.
8. Finding the personal energy to initiate and build an enterprise or organization,
rather than just watching, analysing, or describing one.
9. Having a vision and then having the passion, commitment, and motivation to
transmit this vision to other stakeholders, such as partners, financial backers,
employees, suppliers, and customers.
10. A willingness to take responsibility for the risks – both personal and financial –
while doing everything possible to influence the odds.
11. Building a team of people with complementary skills and talents; of sensing
opportunities, while others see chaos, contradiction, and confusion; finding,
marshalling, and controlling resources (often owned by others) to pursue the
opportunity
BDI3C
Who’s the Entrepeneur
Entrepreneurs and Entrepreneurship
Name of Entrepreneur: ______
1. A creative process in which resources are organized and used in a venture that
satisfies both personal needs or wants and the needs or wants of others.
2. The realization of an opportunity. It involves the gathering of resources and the
assumption of risks in an attempt to make things happen in a creative venture.
3. The mobilization of resources from one level of productive use to a higher level of
use.
4. The creation and building of something of value from practically nothing.
5. The process of creating or seizing an opportunity and pursuing it, regardless of the
resources currently controlled.
Entrepreneurship involves:
1. Recognizing the opportunities presented by change that others have not had the
courage to act on.
2. Turning the creativity of dreams into reality.
3. Trial and error and experimentation.
4. Taking controllable risks (i.e. taking calculated chances rather than gambling or
relying on sheer luck.)
5. Costs other than money: time, energy, reputation, emotional drains.
6. Reality testing: recognizing realistic limits imposed by the economy, physical
resources available, actions of competitors, personal abilities and talents, etc.
7. The definition, creation, and distribution of value and benefits to individuals,
groups, organizations, and society.
8. Finding the personal energy to initiate and build an enterprise or organization,
rather than just watching, analysing, or describing one.
9. Having a vision and then having the passion, commitment, and motivation to
transmit this vision to other stakeholders, such as partners, financial backers,
employees, suppliers, and customers.
10. A willingness to take responsibility for the risks – both personal and financial –
while doing everything possible to influence the odds.
11. Building a team of people with complementary skills and talents; of sensing
opportunities, while others see chaos, contradiction, and confusion; finding,
marshalling, and controlling resources (often owned by others) to pursue the
opportunity