Entreprenuership

OUMM2103
ENTREPRENEURSHIP
Norashidah Hashim
Assoc Prof Abd Aziz Yusof
Ooi Yeng Keat
Armanurah Mohamad
Abd Razak Amir
Dr Oh Teik Hai
Abd Kadir Othman
Loo Sze Wei

Project Directors:

Prof Dr Mansor Fadzil
Prof Dr Zakaria Ismail
Open University Malaysia

Module Writers:

Norashidah Hashim
Assoc Prof Abd Aziz Yusof
Ooi Yeng Keat
Armanurah Mohamad
Abd Razak Amir
Universiti Utara Malaysia
Dr Oh Teik Hai
Abd Kadir Othman
Loo Sze Wei
Open University Malaysia

Moderator:

Assoc Prof Dr Nawawi Mat Jan
Universiti Teknologi MARA

Developed by:

Centre for Instructional Design and Technology
Open University Malaysia

Printed by:

Meteor Doc. Sdn. Bhd.
Lot 47-48, Jalan SR 1/9, Seksyen 9,
Jalan Serdang Raya, Taman Serdang Raya,
43300 Seri Kembangan, Selangor Darul Ehsan

First Edition, May 2003
Second Edition, December 2012
Copyright © Open University Malaysia (OUM), December 2012, OUMM2103
All rights reserved. No part of this work may be reproduced in any form or by any means without the written permission of the President, Open University Malaysia (OUM).

Table of Contents
Course Guide

xi xvi

Topic 1

Introduction to Entrepreneurship
1.1 The Evolution of Entrepreneurship
1.2 Concepts of Entrepreneurship
1.2.1 Entrepreneurship
1.2.2 Who are Entrepreneurs?
1.3 The Importance of Entrepreneurship
1.4 The Myth of Entrepreneurship
1.5 Development of Entrepreneurship in Malaysia
Summary
Key Terms

1
2
3
4
5
7
8
10
11
11

Topic 2

Identifying Entrepreneurial Characteristics
2.1 Characteristics of Successful Entrepreneurs
2.2 Self-assessment for Entrepreneurs
2.3 The Differences Amongst Businessmen, Managers and
Entrepreneurs
2.3.1 The Differences between a Businessman and an
Entrepreneur
2.3.2 The Differences between a Conventional Manager and an Entrepreneur
Summary
Key Terms

12
13
16

Developing Entrepreneurial Creativity and Innovation
3.1 What is Creativity?
3.2 The Process

References: Adams. (2001). Why plan your business? http://www.businesstown.com. Retrieved August 20, 2003 from Baron, R Baron, R. O., Shane, S. A., Kuratko, D. F., & Hodgetts, R. M. (2004). Block, Z., & MacMillan, C. (1985). Milestones for successful venture planning. Bridge, S., OÊNeill, K., & Cromie, S. (1998). Understanding enterprise, entrepreneurship and small business Broocke, B. (2004). Buy DonÊt Start Your own business. Retrieved February 19, 2009, from http://www.entrepreneur.com. Bruno, A. V., Leidecker, J. K., & Harder, J. W. (1987). Why firms fail. Business Horizons, pp 50 58. Chaganti, R., Chaganti, R., & Mahajan, V. (1989). Profitable small business strategies under different types of competition Chell, E. (2001). Entrepreneurship: Globalisation, innovation and development. Choi, T. Y., & Rungtusanatham, M. (1999). Comparison of quality management practices: Across the supply chain and industries Dollinger, M. J. (1995). Entrepreneurship: Strategies and resources. Illinois: Irwin. Droz, D. (2004). 10 tips to starting a new business. Retrieved February 19, 2009, from http://www.imakenews.com. Drucker, P. F. (1985). Innovation and entrepreneurship: Practice and principles. Griffin, R. W., & Ebert, R. J. (1996). Business (4th ed.). Upper Saddle River: Prentice Hall. Hisrich, R. D., & Peters, M. P. (2000). Entrepreneurship: International edition. Hisrich, R. D., & Peters, M. P. (1998). Entrepreneurship: Starting, developing and managing a new enterprise (4th ed.) Hodgetts, R. M. (1994). Quality lessons from AmericaÊs Baldrige winners. Karakaya, F., & Kobu, B. (1994). New product development process: An investigation of success and failure in high technology and non-high Kinicki, A., & Williams, B. K. (2003). Management: A practical introduction. NY: McGraw-Hill. Kirby, D. (2003). Entrepreneurship. UK: McGraw-Hill. Kuratko, D. F., & Hodgetts, R. M. (2004). Entrepreneurship: A contemporary approach (5th ed.) Kuratko, D. F., & Hodgetts, R. M. (2004). Entrepreneurship: A contemporary approach (6th ed.) Kuratko, D. F., & Hodgetts, R. M. (2004). Entrepreneurship: Theory, process, practice Kuratko, D. F., Goodale, J. C., Hornsby, J. S. (2001). Quality practices for a competitive advantage in smaller firms Kuratko, D. F., & Hodgetts, R. M. (2004). Entrepreneurship: A contemporary approach (6th ed.) Levitt, T. (1960). Marketing myopia. Harvard Business Review, pp 45 56. Longenecker, J. G., Moore, C. W., & Petty, J. W. (2003). Small business management: An entrepreneurial emphasis Mahoney, T. A., & Deckop, J. R. (1993). ÂYÊ gotta believe: Lessons from Americanvs. Japanese-run U.S. factories. Organisational dynamics, 27 38. Mohd. Salleh Hj. Din, & Gibb, A. A. (1990). Universities, small business and entrepreneurship education: Towards a holistic approach Myzuka, D. F. (2000). Evaluating the opportunity: Spotting the market opportunity Naffziger, D. W., & Kuratko, D. F. (1991). An investigation into the prevalence of planning in small business Olson, D. F., & Carey, O. L. (1985). Opportunity management: Strategic planning for smaller businesses Orpen, C. (1985). The effects of long-range planning on small business performance: A further examination Pusat Pembangunan Usahawan Malaysia. (2000). Asas Keusahawanan. Pusat Pembangunan Usahawan Malaysia. (2004).