Entrepreneurship development, class lecture of jahangirnagar university

1. An Entrepreneur and a different idea can change the
world!
Bill Gates
•Microsoft
•Bill & Melinda
Gates
Foundation
Warren
Buffett
•P & G
•Berkshire
Hathaway
Mark
Zuckerberg
• Facebook
Steve Jobs
•APPLE

2. An Entrepreneur and a different idea can change a
Society!
Samson H.
Chowdhury
•Square Group
Sk. Aziz
Uddin
•Akij Group
Latifur
Rahman
•Transcom
Group
M A
Hashem
•Partex Group

3. Resourced By:
Md. Ateak Ullah Masud
MBA (DU), IDCS (Cambridge)
E-Mail: mau_masud@yahoo.com
3
Director
AG Hi-Tech Ltd.
AG Property Developments Ltd.
Regent Holdings Development Ltd.
Adjunct Faculty Member
Department of Marketing
Jahangirnagar University
Professional Background in Brief:
A decade ago, started career in Housing & Real Estate Sector and later on joined Ahsan group with the
vision to emerge as a business conglomerate in Bangladesh with Housing & Real-Estate development,
High-Tech, Infrastructural Development, Project Management, and dream to build Social Business and
subsequent contribution towards huge employment opportunity and social development. Recently joined
Department of Marketing, Jahangirnagar University as an Adjunct Faculty Member.

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Evolution of the concept of Entrepreneur
The word “entrepreneur” has been taken from the French language
where it cradled and originally meant to designate an organizer of
musical or other entertainments.
Oxford English Dictionary (in 1897) also defined an entrepreneur in
similar way as “the director or a manager of public musical institution, one
who ‘gets-up’ entertainment, especially musical performance”.
It was only in the beginning of the 18th century that the word was used to
refer to economic aspects.
Since then the term ‘entrepreneur’ is used in various ways and views,
these views are broadly classified into three groups, namely, risk-bearer,
organizer and innovator.

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• Oxford Dictionary
“Person who starts or organizes a commercial enterprise, especially one involving
financial risk.”
• J B Say
“is a person who shifts economic resources out of an area of lower and into an area of
higher productivity and yield.”
• Skinner S J & Ivancevich J M
“A person who takes risks necessary to organize and manage a business and receives
the financial profits and nonmonetary rewards.”
• Dictionary of Social Sciences
“a person who exercise the functions of
I. Initiating, coordinating, controlling of instituting major changes in an business
enterprise and or
II. Bearing those risk of its operation which arise from the dynamic nature of society
and imperfect knowledge of the future and which can not be converted into certain
costs through transfer, calculation or elimination.”
• Collins and Moore
“a person who organize a business from zero position and develops it or a person who
himself/herself invests capital, takes ownership, and strive for its success..”

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“One who takes risk to form a business through technology
and production methods and effectively organize human
resources and contribute meaningfully to the economic
development of the society.”

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Entrepreneur:
Person whose goal is to create or capitalize on new economic opportunities through
innovation
Entrepreneurship:
Process through which entrepreneurs create and grow enterprises
Entrepreneurial Community:
Community where significant economic and social entrepreneurial activity exists within an
effective system of public and private support
Entrepreneurship Development:
Policies and practices (public and private) that foster entrepreneurship

8. 8
Inspirational Quotes for Entrepreneurs
“If you are born poor its not your fault. But if you die poor its your fault.”- Bill Gates
“Someone’s sitting in the shade today because someone planted a tree a long ago.” –Warren Buffett
“Coming together is a beginning. Keeping together is progress. Working together is success.” –Henry Ford
"We'll not be job-seekers, we'll be job-givers"..-Muhammad Yunus, Nobel Peace Prize winner and micro finance
pioneer”
I wanted to be an editor or a journalist, I wasn't really interested in being an entrepreneur, but I soon found I had
to become an entrepreneur in order to keep my magazine going.-Richard Branson, Founder Virgin Group
“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe
is great work. And the only way to do great work is to love what you do.” –Steve Jobs, Co-Founder, Chairman
and CEO, Apple
“The way to get started is to quit talking and start doing.” –Walt Disney, Co-Founder, Disney
"The biggest risk is not taking any risk. In a world that's changing really quickly, the only strategy that is
guaranteed to fail is not taking risks.“- Mark Zuckerberg, CEO, Facebook

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Different Level of Entrepreneurs or Businessman and their Characteristics
Business
Tycoon
Business
Magnate
Business Personality
Businessman
SME Entrepreneur
Self Actualization
Esteem
Love/Belongings
Safety
Physiological
Levels of Entrepreneurs Maslow's hierarchy of needs

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Different Level of Entrepreneurs and their Characteristics…1
•SME Entrepreneur: to start & run a business or venture
-Risk Taker
-Optimistic
-Dreamer
-Organizer
-Innovative
-Hard working
-Patience

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Different Level of Entrepreneurs and their Characteristics…2
•Business Man: to do business expansion or
diversification
-Self confident
-Fast learner
-Adaptive
-Forecaster
•Business Personality: To lead a business community
- Visionary
-Focused
-Leadership
-Qualitative analyzer

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Different Level of Entrepreneurs and their Characteristics…3
•Business Magnate: To be a business
conglomerate
- Sensible
-Influencial
-Resourceful
•Business tycoon: to be a MNC & business
Guru
-Generous

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Types of Entrepreneurs
Innovating Entrepreneurs
Imitative Entrepreneurs
Fabian Entrepreneurs
Drone Entrepreneurs
The following are some more types of entrepreneurs listed by some other behavioral
scientist:
Solo Operators:
I. Active Partners
II. Inventors
III. Challenges
IV. Buyers
V. Lifetimers

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• Idea to Opportunity
•Opportunity to Business Plan
• Business plan to Funding the venture
• Funding the venture to Launching, Growing,
and Ending the new venture.

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Difference Entrepreneur Intrapreneur Manager
Motive The Main Motive of an
entrepreneur is to start a
venture by setting up an
enterprise.
The motive of an Intrapreneur is
to assist entrepreneur to start a
venture and facilitate the growth.
The main motive of a manager
is to render service in an
enterprise already set up by an
entrepreneur.
Dependency An Entrepreneur is independent
in his operations.
But, an intrapreneur is
dependent on the enterprise, i.e.
the owner
Dependent on reporting
superior
Raising of
Funds
An Entrepreneur himself raises
funds required for the
enterprise.
Funds are not usually raised and
initiated by the intrapreneur but
coordinate the initiative.
Managers are not involved in
fund raising.
Risk Entrepreneur bears the risk
involved in the business
An intrapreneur does not fully
bear the risk involved in the
enterprise.
Does not usually bear any direct
risk.
Operation An Entrepreneur operates from
inside or outside, depends on
organizational size/structure.
On the contrary, an intrapreneur
operates from within the
organization.
Involves in functional
operations.
Decision
Making
Gross/Major decision maker
from inside or outside.
Makes decision based on
statistical & Market situation
Implement decision taken by
Entrepreneur & Intrapreneur
within the organization.
Growth Business Growth Professional Growth Career Growth
Profit & Loss
Major portion according to
Sharing
Percentage of Ownership.
Only some of profits portion
according to agreement/job
terms & conditions.
They are usually salaried but in
sometime share only profit at a
small percentage according to
organizational policy.

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The opportunity to:
 Create your own destiny
 Make a difference
 Reach your full potential
 Reap impressive profits
 Contribute to society & Economic Development
 To be recognized for your efforts
 Do what you enjoy and to have fun at it

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 Uncertainty of income
 Risk of losing your entire investment
 Long hours and hard work
 Lower quality of life until the business gets
established
 High levels of stress
 Complete responsibility
 Discouragement

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1. Management mistakes
2. Lack of experience
3. Poor financial control
4. Weak marketing efforts
5. Failure to develop a strategic plan
6. Uncontrolled growth
7. Poor location
8. Improper inventory control
9. Incorrect pricing
10. Inability to make the “entrepreneurial transition”
Other Mistakes specially of Bangladeshi Entrepreneurs
11. Over expectation
12. Over confidence
13. Wrong Intrapreneur selection
14. Neglect the Law/Rules
15. Wrong selection of venture
16. Disregard the commitments to customers or stakeholders.

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