1 Al-Madinah International University Faculty of Finance and Administration Bachelor of Business Administration Qualities and Skills Course Code: BBUS1013.

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Al-Madinah International UniversityFaculty of Finance and AdministrationBachelor of Business Administration

Qualities and Skills

Course Code: BBUS1013

ENTREPRENEURSHIP

Lecturer: Prof. Dr. Kamal Tawfiq Hattab

Topics: Topic 1 : Entrepreneurship

Topic 2 : Inside the Entrepreneurial Mind

Topic 3 : Theories of Entrepreneurship

Topic 4 : Developing from Others Experiences

Topic 5 : Technology Entrepreneurship

Topic 6 : Preparing a Business Plan

Topic 7 : Presenting a Business Plan

Topic 8 : Starting a New Business

Topic 9 : Intellectual Properties

Topic 10 : Entrepreneurship from an Islamic Perspectives

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ENTREPRENEURENTREPRENEUR DEFINITION DEFINITION In most definitions of entrepreneurship there is In most definitions of entrepreneurship there is a consensus that we are talking about a a consensus that we are talking about a pattern of behavior include the following:pattern of behavior include the following:1 - initiative.1 - initiative.2 - the organization and reorganization of the 2 - the organization and reorganization of the social and economic techniques to convert the social and economic techniques to convert the sources and conditions to be more practical.sources and conditions to be more practical.3 - accept the risk or loss3 - accept the risk or loss..

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For the economistFor the economist, the organizer is the , the organizer is the person who brings resources, labor, raw person who brings resources, labor, raw materials and all other property, which is materials and all other property, which is also the person providing the innovations also the person providing the innovations

and new systems to workand new systems to work . .

For the psychologist, such a person is motivated by certain factors, may have been the need to obtain something, or experience or achievement, or perhaps to escape the power of other individuals have been seen as organized by the philosopher capitalist as someone who creates wealth for others, too, where he can exploit the riches of effectively and reduce the rate of waste, and provide job opportunities for workers with him, and despite the fact that both of these definitions look at the entrepreneurs from the perspective of variable bit but all of which symbolizes the same things regeneration and management, creativity, wealth and risk.

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generallygenerally we can say that there is difficulty in we can say that there is difficulty in

agreeing on a precise definition of the term agreeing on a precise definition of the term

structured, but more terms comprehensive as in structured, but more terms comprehensive as in

the words of Jeffrey Timmons (author of Mind the words of Jeffrey Timmons (author of Mind

Organizer): Organizer is a person succeeds to Organizer): Organizer is a person succeeds to

make something of value from nothing and it make something of value from nothing and it

requires enthusiasm and a vision and a requires enthusiasm and a vision and a

commitment to lead others to implement this commitment to lead others to implement this

vision, as well as to prepare to assume the risks vision, as well as to prepare to assume the risks

of doing this workof doing this work

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The adopted definition :The adopted definition :

Entrepreneurship, as a field of business, seeks Entrepreneurship, as a field of business, seeks

to understand how opportunities to create to understand how opportunities to create

something new (e.g, new products or services, something new (e.g, new products or services,

new markets, new production processes or raw new markets, new production processes or raw

materials, new ways of organizing existing materials, new ways of organizing existing

technologies) arise and are discovered or technologies) arise and are discovered or

created by specific individuals, who then use created by specific individuals, who then use

various means to exploit or develop them, thus various means to exploit or develop them, thus

producing a wide range of effects.producing a wide range of effects.

Reasons Behind the Reasons Behind the Establishment of Establishment of Small BusinessSmall Business

Reasons Behind the Establishment Reasons Behind the Establishment of Small Businessof Small Business

You can classify these causes into three You can classify these causes into three main sectionsmain sections

1.1. personal qualitiespersonal qualities

2.2. cultural influences cultural influences

Personal QualitiesPersonal Qualities

There is considerable disagreement on the There is considerable disagreement on the subject of a personal organizer, some such subject of a personal organizer, some such as Drucker believes that individuals can be as Drucker believes that individuals can be taught to become organizers, others feel taught to become organizers, others feel the impossibility of any points some of the impossibility of any points some of them to be a good idea to present a lot, but them to be a good idea to present a lot, but individuals who carry them out rare (good individuals who carry them out rare (good ideas are common, the people who can ideas are common, the people who can implement them are rare).implement them are rare).


Overall, despite the lack of complete Overall, despite the lack of complete agreement for the attributes most important agreement for the attributes most important for the entrepreneur, the most frequently for the entrepreneur, the most frequently cited of which include the followingcited of which include the following : :

MotivationMotivation: motivation is (mental and : motivation is (mental and physical) to achieve success and physical) to achieve success and accomplishing the tasks of an absolute accomplishing the tasks of an absolute choice and on your terms privatechoice and on your terms private..


TrustTrust: an abiding faith in your abilities : an abiding faith in your abilities and your chances for successand your chances for success..


Willingness to riskWillingness to risk: willingness to : willingness to sacrifice security your own, as the need sacrifice security your own, as the need arises in order to achieve your goalsarises in order to achieve your goals..


The ability to make decisionsThe ability to make decisions: skill : skill necessary to analyze complex situations necessary to analyze complex situations and to reach results that make your and to reach results that make your business successful, as well as to prepare business successful, as well as to prepare for the initiatives in conditions that may not for the initiatives in conditions that may not be submitted by othersbe submitted by others..


• Skills of Human RelationsSkills of Human Relations: the ability of : the ability of its articles of others and encouraging its articles of others and encouraging dealings, trust and loyaltydealings, trust and loyalty..


Communication Skills:Communication Skills: the talent for self- the talent for self-expression, and understanding of others expression, and understanding of others and share ideasand share ideas, ,


Technical Capacity:Technical Capacity: Experience required Experience required to produce goods and provide services that to produce goods and provide services that are running the companyare running the company..


Other factorsOther factors: the need for tangible : the need for tangible rewards, the need to establish something rewards, the need to establish something for your family, the desire for for your family, the desire for independence, as well as to satisfy the independence, as well as to satisfy the aspirationsaspirations..

Cultural InfluencesCultural Influences The desire to create a new project or a new The desire to create a new project or a new

company depends on the culture of the individual company depends on the culture of the individual and his family and his school and his peers, and his family and his school and his peers, the the culture that appreciates the individual who is a culture that appreciates the individual who is a new company successfulnew company successful, producing a number of , producing a number of new companies over what is produced by a culture new companies over what is produced by a culture that does not provide a sufficient appreciation, for that does not provide a sufficient appreciation, for example, culture U.S. encourages individuals to be example, culture U.S. encourages individuals to be masters of themselves in the work and open the masters of themselves in the work and open the door to individual opportunity and success in work door to individual opportunity and success in work and earn money. And Japanese culture for and earn money. And Japanese culture for example, organized help to continue and complete example, organized help to continue and complete the work despite the difficulties it faces, and all the work despite the difficulties it faces, and all these things are components of the process of these things are components of the process of organizing projectsorganizing projects..

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There are several factors enable, such There are several factors enable, such as:as:GovernmentGovernment: the government : the government contributes to this process by contributes to this process by providing the infrastructure that providing the infrastructure that supports the new project, or through supports the new project, or through low taxes imposed on the creation of low taxes imposed on the creation of new companies, States which impose new companies, States which impose high taxes on individuals hinder the high taxes on individuals hinder the process of creating new companies process of creating new companies where they can not gain a good where they can not gain a good addition to the financial the existence addition to the financial the existence of financial risk, psychological and of financial risk, psychological and social as well.social as well.

What makes a new What makes a new company to be possible:company to be possible:

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BackgroundBackground: It must be structured, the : It must be structured, the projects also have the background projects also have the background that enables him to create a new that enables him to create a new project, knowledge obtained by the project, knowledge obtained by the individual through education or individual through education or previous work experience feel that the previous work experience feel that the regulator has the possibility to create regulator has the possibility to create and manage a new project.and manage a new project.


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MarketingMarketing: There must be a proper market : There must be a proper market for the good new addition to the systematic for the good new addition to the systematic knowledge of the affairs of marketing so knowledge of the affairs of marketing so that it can plan how the new product that it can plan how the new product packaging, and pricing, distribution, and packaging, and pricing, distribution, and promotion of a way that guarantees success promotion of a way that guarantees success in the marketplace.in the marketplace.


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Presence of individualsPresence of individuals have created have created their own business and achieved their own business and achieved success as organizers is one of the success as organizers is one of the most influential factor in making the most influential factor in making the establishment of new firms is possible. establishment of new firms is possible. Seeing someone succeed in doing Seeing someone succeed in doing what makes it easy to imagine the what makes it easy to imagine the same person is doing the same, but same person is doing the same, but better, of course.better, of course.


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Provide the necessary financial Provide the necessary financial resources resources to create a new project, and to create a new project, and although most of the money comes from the although most of the money comes from the individual's personal savings and the individual's personal savings and the assumption, friends, and relatives, there is a assumption, friends, and relatives, there is a need in most cases, the seed money to need in most cases, the seed money to create work.create work.


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The study of entrepreneurship is very important in this day not The study of entrepreneurship is very important in this day not because of their assistance to the organizers to meet their because of their assistance to the organizers to meet their personal, but because of the economic role played by new personal, but because of the economic role played by new projects and the process operates as a bridge up between projects and the process operates as a bridge up between innovation and application, not only as a means to increase innovation and application, not only as a means to increase national income by providing new job opportunities, also national income by providing new job opportunities, also considered Many economists, led by Marshall organized an considered Many economists, led by Marshall organized an important component of production (some considered the fourth important component of production (some considered the fourth element after the land, labor and capital), given that these three element after the land, labor and capital), given that these three elements needed for those who organized and make decisions, elements needed for those who organized and make decisions, especially with regard to the identification of production, especially with regard to the identification of production, quantity, and this is the role of the organizer.quantity, and this is the role of the organizer.

The role of entrepreneurship in The role of entrepreneurship in economic development:economic development:

The Effects of the The Effects of the CommunityCommunity::

There are many companies that were established by There are many companies that were established by individuals, retirees, or individuals who have left their individuals, retirees, or individuals who have left their previous employment due to transmission of a family to previous employment due to transmission of a family to live in a new place, or by individuals who have been live in a new place, or by individuals who have been separated from their work, also to complete the study separated from their work, also to complete the study and obtain a degree may be a reason for the and obtain a degree may be a reason for the establishment of new companies, for example, a establishment of new companies, for example, a person who does not get a job after completion of person who does not get a job after completion of study (bachelor's or master) have tended to create a study (bachelor's or master) have tended to create a company of its own, in some cases may be forced company of its own, in some cases may be forced immigrants to other countries to establish their own immigrants to other countries to establish their own business with them, especially if they apply incentive business with them, especially if they apply incentive language and skills required by employers in these language and skills required by employers in these countriescountries..

Advantages andAdvantages and DisadvantagesDisadvantages

Advantages of owning Small Advantages of owning Small BusinessBusiness::

IndependenceIndependence: it is you who has the : it is you who has the authority to take decisions and, as head authority to take decisions and, as head work, Bhozatk authority to direct all the work, Bhozatk authority to direct all the activities of this workactivities of this work..


Creative freedomCreative freedom: without the restrictions : without the restrictions imposed through policies developed and the imposed through policies developed and the need to pass through the channels, the ideas need to pass through the channels, the ideas and talents can be expressed freelyand talents can be expressed freely..


profits:profits: the greater the success of your the greater the success of your business the more money you raised, while business the more money you raised, while the salaries of employees based in general on the salaries of employees based in general on the adoption of the budget and the high cost the adoption of the budget and the high cost of living, your income is linked to your of living, your income is linked to your performance directlyperformance directly..


Job securityJob security: As you own your own business, : As you own your own business, it can not be a Iqaltk or laid off or forced to it can not be a Iqaltk or laid off or forced to retireretire..


pridepride: "You feel good comes from knowing : "You feel good comes from knowing that you built your own company and turned it that you built your own company and turned it into a successful operation of the self through into a successful operation of the self through your own effortsyour own efforts..

Disadvantages of owning Small Disadvantages of owning Small BusinessBusiness::

risk investmentrisk investment: If the failed job, it's possible : If the failed job, it's possible to lose your investment in bulkto lose your investment in bulk..


Personal sacrificePersonal sacrifice: You may have organized : You may have organized to work for long hours (especially in the early to work for long hours (especially in the early days of the founding of work) in order to days of the founding of work) in order to achieve success, which could affect his achieve success, which could affect his relationship with his family and friendsrelationship with his family and friends..


income volatility:income volatility: Instead of ensuring access Instead of ensuring access to regular salary, you are dependent on the to regular salary, you are dependent on the income is subject to the vagaries of the income is subject to the vagaries of the businessbusiness..


ResponsibilityResponsibility: The freedom to make : The freedom to make decisions involving the burden of responsibility decisions involving the burden of responsibility for these decisions, if something fails, you are for these decisions, if something fails, you are ultimately responsible. As you always face ultimately responsible. As you always face pressure to satisfy your customers and pay pressure to satisfy your customers and pay the salaries of workers and meet the demands the salaries of workers and meet the demands of creditorsof creditors..

1 Al-Madinah International University Faculty of Finance and Administration Bachelor of Business Administration Qualities and Skills Course Code: BBUS1013.

Documents

new business topic

business plan topic

work slide

experiences topic

entrepreneurial mind

new markets

new products

new ways