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    Introduction To Entrepreneurship: by Beenish Qureshi Visiting Faculty NED University

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    Hermain Fayyaz Karim
    This document introduces the topic of entrepreneurship. It discusses how entrepreneurs drive economic activity through creative destruction by developing new products and technologies. It notes that the demographics of entrepreneurs are changing, with increases in the number of women, minority, senior, and young entrepreneurs starting businesses. Entrepreneurial firms have a significant economic impact through innovation and job creation. They also impact society through new products and services, and impact large firms by helping them become more efficient. The entrepreneurial process consists of four steps from deciding to become an entrepreneur to managing a growing business.

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    Introduction To Entrepreneurship: by Beenish Qureshi Visiting Faculty NED University

    Uploaded by

    Hermain Fayyaz Karim
    27 views14 pages
    This document introduces the topic of entrepreneurship. It discusses how entrepreneurs drive economic activity through creative destruction by developing new products and technologies. It notes that the demographics of entrepreneurs are changing, with increases in the number of women, minority, senior, and young entrepreneurs starting businesses. Entrepreneurial firms have a significant economic impact through innovation and job creation. They also impact society through new products and services, and impact large firms by helping them become more efficient. The entrepreneurial process consists of four steps from deciding to become an entrepreneur to managing a growing business.

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    lecture no. 3 (1)

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    This document introduces the topic of entrepreneurship. It discusses how entrepreneurs drive economic activity through creative destruction by developing new products and technologies. It notes that the demographics of entrepreneurs are changing, with increases in the number of women, minority, senior, and young entrepreneurs starting businesses. Entrepreneurial firms have a significant economic impact through innovation and job creation. They also impact society through new products and services, and impact large firms by helping them become more efficient. The entrepreneurial process consists of four steps from deciding to become an entrepreneur to managing a growing business.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    27 views14 pages

    Introduction To Entrepreneurship: by Beenish Qureshi Visiting Faculty NED University

    Uploaded by

    Hermain Fayyaz Karim
    This document introduces the topic of entrepreneurship. It discusses how entrepreneurs drive economic activity through creative destruction by developing new products and technologies. It notes that the demographics of entrepreneurs are changing, with increases in the number of women, minority, senior, and young entrepreneurs starting businesses. Entrepreneurial firms have a significant economic impact through innovation and job creation. They also impact society through new products and services, and impact large firms by helping them become more efficient. The entrepreneurial process consists of four steps from deciding to become an entrepreneur to managing a growing business.

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    You are on page 1of 14

    Introduction to

    Entrepreneurship
    By
    Beenish Qureshi
    Visiting Faculty NED University
    Importance Of Entrepreneurship

    • In his book The Theory of Economic Development, Schumpeter


    (Austrian Economist) argued that entrepreneurs develop new
    products and technologies that over time make current products and
    technologies obsolete. Schumpeter called this process Creative
    Destruction
    • Because new products and technologies are typically better than
    those they replace and the availability of improved products and
    technologies increases consumer demand, creative destruction
    stimulates economic activity
    Changing Demographics of Entrepreneurs
    1 of 3

    Women Entrepreneurs
    • There were 6.2 million women-
    owned businesses in 2002 (the
    most recent statistics available)
    • This number was up 20% from
    1997.
    Changing Demographics of Entrepreneurs
    2 of 3

    Minority Entrepreneurs Senior Entrepreneurs

    • Minorities owned roughly 18% • Although statistics are not kept


    of U.S. businesses in 2002. on senior entrepreneurs, there is
    • This number was up 10% from strong evidence that the number
    1997. of older people choosing
    entrepreneurial careers is rapidly
    increasing.
    Changing Demographics of Entrepreneurs
    3 of 3

    Young Entrepreneurs

    • Interest among young people in entrepreneurial careers is


    growing.
    • According to a Gallop study, 7 out of 10 high school students
    want to start their own business.
    • Over 2,000 two-year and four-year colleges and universities
    offer entrepreneurship courses.
    Economic Impact of Entrepreneurial Firms

    • Innovation
    • Is the process of creating something new, which is central to the
    entrepreneurial process.
    • Small firms are twice as innovative per employee as large firms.

    • Job Creation
    • In the past two decades, economic activity has moved in the direction
    of smaller entrepreneurial firms, which may be due to their unique
    ability to innovate and focus on specialized tasks.
    Entrepreneurial Firms’ Impact on Society and
    Larger Firms

    • Impact on Society
    • The innovations of entrepreneurial firms have a dramatic impact
    on society.
    • Think of all the new products and services that make our lives
    easier, enhance our productivity at work, improve our health,
    and entertain us in new ways.
    • Impact on Larger Firms
    • Many entrepreneurial firms have built their entire business
    models around producing products and services that help larger
    firms become more efficient and effective.
    The Entrepreneurial Process

    The Entrepreneurial Process Consists of Four Steps


    Step 1: Deciding to become an entrepreneur.
    Step 2: Developing successful business ideas.
    Step 3: Moving from an idea to an entrepreneurial firm.
    Step 4: Managing and growing the entrepreneurial firm.
    •Thankyou

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