Entreprenuership Lesson 2

ENTREPRENEURSH
IP
Lesson 2
Role of entrepreneur and intrapreneur in
enterprise development
■ Every business need leaders that can help to foster growth and development. A lot of
effort goes into starting an enterprise and further more expanding it. The initial effort will
start with the entrepreneur and then spreads to other stakeholders of the organization. An
entrepreneur plays many roles in enterprise development:
▪ The initiator- person who thinks of the new venture and plans how to execute it.
▪ Risk taker- entrepreneurs bear all the risks associated with the start-up and operation of
the business.
▪ The entrepreneur tries to reduce risk of the enterprise failure by brining in people who can
help the organization grow. Eg investors, skilled workers, employees with entrepreneurial
traits.
Intrapreneurship also plays a crucial role in enterprise development. Intrapreneurs are
responsible for introducing new ideas, inspiring creativity , leading and motivating those
around them. They take proactive steps to improve business, possess leadership skills and are
creative thinkers.
Some roles of an intrapreneur may include:
▪ Innovator
▪ Problem solver
▪ Risk takers (who are not afraid to fail).
Both entrepreneurs and intrapreneurs need to contribute to the enterprise development by
demonstrating:
• Proactivity- acting in advance to a future situation by providing an innovative solution.
• Openness- willingness to try new things
• Flexibility- willing to changed as needed. entrepreneurs should keep abreast of the
industry they are operating in and be ready to adapt to changes. e.g. Technology
Entrepreneurship and small business management
■ Small businesses are privately owned corporations, partnerships, or sole

proprietorships that have fewer employees and/or less annual revenue than
a regular-sized business or corporation. Businesses are defined as "small"
in terms of being able to apply for government support and qualify for
preferential tax policy varies depending on the country and industry
■ Entrepreneurship is more than simply “starting a business”.
Entrepreneurship is a process through which individuals identify
opportunities, allocate resources, and create value. This creation of value
is often through the identification of unmet needs or identifying
opportunities for change.
Entrepreneurship vs. Small Business Management
■ Many people use the terms "entrepreneur" and "small business owner"
synonymously. While they may have much in common, there are significant
differences between the entrepreneurial venture and the small business.
■ Entrepreneurship begins with an innovative idea for a new business. It involves
taking risks and the success or failure of the new business lies entirely on the
entrepreneur.
■ Business management is about running/operating a business, overseeing
administrative tasks among other duties. While the entrepreneur is always the
founder and owner of the business, a manage is often an employee working on
behalf of the entrepreneur to perform managerial duties related to a business.
▪ Small Businesses Owners manage their businesses by expecting steady sales,
profits, and growth
▪ Entrepreneurs focus their efforts on innovation, profitability, and sustainable
growth
Types of Entrepreneurs
■ Nascent Entrepreneurs
■ The creation of a new venture is a process, and if the new venture can be considered as an
independent start-up, it is called a nascent entrepreneur. Nascent entrepreneurs are people
who are engaged in creating new ventures. Starting a business is often viewed by nascent
entrepreneurs as a positive way to balance family needs with the need to produce an
income.
■ The nascent stage is marked by the individual not only making a choice to behave
entrepreneurially (through starting a new venture) but also manifesting that choice by
undertaking the relevant venture creation activities or actions. Nascent activities leading
venture start-up include registering the business entity, doing a business plan and seeking
funding, partners, and resource. Having the skills and knowledge of what to do, where to
go and whom to approach at this stage is paramount for successful venture birth.
■ Novice Entrepreneurs
■ A novice entrepreneur is someone who has just started to run his or her own business or
venture and is still learning new things to make it work successfully.
■ Habitual Entrepreneurs
■ Habitual entrepreneurs are individuals who gain tremendous entrepreneurial experience
and skills from acquiring major or minor equity stake in two or more businesses.
■ Serial Entrepreneurs
■ These individuals invest in innovative ideas, build powerful corporations and then sell
them for profit. Some serial entrepreneurs can achieve enormous success either in one
specific field or by mixing up their investments a bit to try and get a wide range of
experience.
■ Portfolio Entrepreneurs
■ Portfolio entrepreneurs are individuals who own several businesses simultaneously, as an
earlier entrepreneurial activity provides an experience that will be helpful in establishing
and running a new business.

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ENTREPRENEURSH

■ Small businesses are privately owned corporations, partnerships, or sole

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