Lesson 1: Entrepreneurship

entrepreneurship
- The capacity and willingness to develop, organize and manage a business venture along with any of
its risks to make a profit. (Business Dictionary)
- Is both the study of how new businesses are created as well as the actual process of starting a new
business. (Business Encyclopedia)

ENTREPRENEUR
- Derives from the French words
entre meaning between
prendre meaning to take
- Originally used to describe people who “take on the risk” between buyers and sellers or those who
“undertake” a task such as starting a new venture
- A person who organizes and operates a business.
- a person who develops and owns his own enterprise and moderate risks to work under uncertainty
for achieving the goal.
- commonly seen as an innovator, a source of new ideas, goods, services and business/procedures.

BUSINESS PLAN
- A written description of a business’ future
- A document that states what and how the plan will take place

I. Introduction
A. The business concept and business model
B. The business goals: Vision, Mission, Objectives, and Performance Targets
C. The business offering and justification
II. Executive Summary
III. The Business Proponents: Organizers with their capabilities and Contributors
IV. The target customers and the main value proposition to the customer
V. The market, macro-environmental factors affecting the Opportunities and Threats
VI. The product and service offerings
VII. The Enterprise Strategy and Enterprise Delivery Systems: Business Competitiveness
VIII. The Financial Forecasts and Expected Returns, Risks, and Contingencies
IX. Environmental and Regulatory Compliance
X. The Capital Structure and Financial Offering: Returns and Benefits