FINAL INFORMATION/FAREWLL MESSAGE

My experience with blogging has been quite interesting. It is very true, that people blog for different reasons. For some people, blogging is an excellent means of satisfying their personal ego, while for others it is to earn a full-time income. There are others who blog for academic benefits, and I fall in this category. Blogging has refined my writing skills, increased my knowledge base, and made me a better researcher. It motivated me, and gave me new contacts. The blog is a site that helps you venture beyond your means. I am glad to share with you all that my blog is being used as a learning material in other universities.

There are several benefits of using technology in communication; I would like to use my blog on entrepreneurship as a clear example. The World Wide Web or internet has given me access to variety of learning resources, including the E-library resource in my school (American University Of Nigeria) I can access information at any time, and learn anytime. I have been able to educate different people around the world about the basic things they should know to be successful entrepreneurs, and this would not have been possible without technology.

In conclusion to everything I have said, this is where we will draw the curtain for this semester. I would like to use this opportunity to humbly appreciate all those who have taken time to view my blog. I am really grateful, you all have not only contributed to my grades, but you made my work easier with your encouraging views. I would also like to commend my entrepreneurship instructor Ms Jelena Zivkovic, without which my blog won’t be in existence. I appreciate her for the knowledge she has instilled in me. I love you all and I wish you a blissful season ahead.

MERRY CHRISTMAS IN ADVANCE

                                                       FRANCHISE

•      The word franchise is of Anglo French derivation from France meaning free, and Dr Donald F. Kuratko defined franchise as any arrangement in which the owner of a trade mark, trade name, or copyright has licensed others to use it in selling goods or services

•      Definition of franchise from the AUN library source;  A trading agreement between a supplier (franchiser) and retail outlet (franchisee), often in the service industry, where the retail outlet is given the support of the supplier in return for use of the franchiser's brand and various marketing tools.

.•         A franchisee is legally self-sufficient but economically reliant on the incorporated business system of the franchisor (seller of the franchise). Thus the franchisee can function as an autonomous business person but still recognize the merit of a provincial or national organization.

·         A franchisor is one who has the right to grant a franchise. The franchisor’s success    depends on the success of the franchisee.

                                                                          

THE ADVANTAGES OF FRANCHISING ARE AS FOLLOWS.

·         Training and Guidance:

One of the benefits of buying a franchise is that the franchisor will commonly provide both training and guidance to the franchise. Due to this, the probability or possibility of success to a great extent is more for national franchisees who accept this aids as compared to small-business owners in general. E.g. park and shop

·       Brand-Name and Appeal

 A franchisor’s name is an attractor, in any establishment. Any distinct entity that buys a renowned or famous national franchise, specifically one with a big name, has a good possibility to succeed.

·       Financial Assistance  

A franchise can be a nice investment, because the franchisor may be able to assist the new owner obtain the financial aid or assistance needed to run the operation or project.

·       Proven track record

The ability of a franchisor to prove the operation of a franchise determines how successful the franchisee would be. A franchise that has lasted for a long time(10-30 years), with different layouts, branches and location of the stores, as well as the pricing policy, quality of goods and the overall management system being successful; the franchise automatically has a platform laid out for him or her to start up a sustainable business.

EXAMPLES OF FRANCHISING IN NIGERIA

Training, consulting and brokerage services e.g. referral institute and quick services like tantalizers, chicken republic women fitness/juice bar/health products (franchisinginnigeria.com).

EXAMPLES OF FRANCHISE IN GERMANY

Alloy wheel repair specialists, Alpha Graphics Business Centre (us franchise available in germany).

                                                         FRANCHISE

•      The word franchise is of Anglo French derivation from France meaning free, and Dr Donald F. Kuratko defined franchise as any arrangement in which the owner of a trade mark, trade name, or copyright has licensed others to use it in selling goods or services

•      Definition of franchise from the AUN library source;  A trading agreement between a supplier (franchiser) and retail outlet (franchisee), often in the service industry, where the retail outlet is given the support of the supplier in return for use of the franchiser's brand and various marketing tools.

•         A franchisee is legally self-sufficient but economically reliant on the incorporated business system of the franchisor (seller of the franchise). Thus the franchisee can function as an autonomous business person but still recognize the merit of a provincial or national organization.

·         A franchisor is one who has the right to grant a franchise. The franchisor’s success    depends on the success of the franchisee.

                                                                          

THE ADVANTAGES OF FRANCHISING ARE AS FOLLOWS.

·         Training and Guidance:

One of the benefits of buying a franchise is that the franchisor will commonly provide both training and guidance to the franchise. Due to this, the probability or possibility of success to a great extent is more for national franchisees who accept this aids as compared to small-business owners in general. E.g. park and shop

·       Brand-Name and Appeal

 A franchisor’s name is an attractor, in any establishment. Any distinct entity that buys a renowned or famous national franchise, specifically one with a big name, has a good possibility to succeed.

·       Financial Assistance  

A franchise can be a nice investment, because the franchisor may be able to assist the new owner obtain the financial aid or assistance needed to run the operation or project.

·       Proven track record

The ability of a franchisor to prove the operation of a franchise determines how successful the franchisee would be. A franchise that has lasted for a long time(10-30 years), with different layouts, branches and location of the stores, as well as the pricing policy, quality of goods and the overall management system being successful; the franchise automatically has a platform laid out for him or her to start up a sustainable business.

EXAMPLES OF FRANCHISING IN NIGERIA

Training, consulting and brokerage services e.g. referral institute and quick services like tantalizers, chicken republic women fitness/juice bar/health products (franchisinginnigeria.com).

EXAMPLES OF FRANCHISE IN GERMANY

Alloy wheel repair specialists, Alpha Graphics Business Centre (us franchise available in germany).

                                                 TYPES OF INNOVATION
The following are the four types of innovation in order of their originality.
1. Invention; the creation of new products, service or process- often one that is novel or untried. such concepts tend to be "revolutionary".

2. Extension; the expansion of a product,service, or process allready in existence. Such concepts make a different application of a current idea.

Duplication; the replication of an already existing product, service or process. The duplication effort, however, is not copying but adding the entrepreneur's own creative touch to improve the concept and beat the competition.

Synthesis; The combination of existing concepts and factors into a new formulation. This involves taking a number of ideas or items already invented and finding a way that they can form a new application.

Creativity is the generation of ideas that result in the improved efficiency or effectiveness of a system.On the other hand, innovation is the process by which entrepreneures convert opportunities and ideas into marketable solutions.

The first source of innovative ideas is TREND. Observing trends closely will grant an entrepreneur the ability to recognise a potential opportunity. The various trends are; societal trends, which has to do with ageing demographics, health and fitness growth and senior living. Technology trends consist of (cell phones) technology, e-commerce, internet advances. Finaly, government trends; increased regulations, petroleum prices, terrorism.

The second source of innovative ideas is unexpected occurrences; these are success or failures that because they were unanticipated or unplanned, often prove to be a major innovative surprise to everyone. An example is the infamous 9/11 terrorist attack on the United States. it produced an influx of innovative solutions to newly created challenge of homeland security.

Third is incongruities; this occurs when a gap or difference exists between expectations and reality. for example when Fred Smith proposed overnight mail delivery, he was told " if  it were that profitable, U.S post office would be doing it. it turned out  Smith was right. An incongruity existed between what smith felt was neede and the way business was currently conducted; thus he created fedEX

Fourth is process needs; These occur when an answer to a particular need is required. Venture capitalists often refer to these needs as "pain". examples include the creation of new medical devices, health foods, pharmaceuticals, and time-saving innovations.

Fifth is industry and market changes;Continual shifts in the market are caused by developments such as consumer attitudes, advancements in technology and industry growth. Industries and markets allways undergo changes in structure, design, or definition. An example can be found in the health care industry- hospital care has undergone radical changes, and home health care and preventive medicines have replaced hospitalization and surgery as primary focus areas. The entrepreneur needs to be aware of and seize this emerging opportunities.

Demographic changes; These arises from trend changes in population, age, education, occupations, geographic locations, and similar factors. Demorgraphic shifts are important and often provide new intrepreneurial opportunities. For example, as the average population age in Florida andArizona has increased  (due largely to the influx of retirees), land development, recreational, and health care industries all have profited.

Perceptual changes; These are changes that occur in people's interpretation of facts and concepts. perceptual changes are intangible but meaningful. Perception can cause major shifts in ideas to take place.The current fitness craze, caused by the perceived need to be healthy and physically fit, has created a demand for both health foods and health facilities throughout the country. Another example is people's desire to better use their personal time. As a result, the travel industry has capitalized on consumers' current need to " see the world" while they are young and healthy, and time -share condominiums and travel clubs have increased.

Knowledge based concepts; These are the bases for creation or development of something brand new. Inventions are knowledge based; they are the products of new thinking, new methods and new knowledge. Such innovations often requires the longest time period between initiative and market implementation because of the need for testing and modification. For example, today's cell phone technology has advanced to include not just phone service but cameras, internet access, and music. This has revolutionized the way we use different technologies today. These concepts were not thought possible just five years ago;

THE SOURCES OF INNOVATIVE IDEAS
1 TRENDS
2 UNEXPECTED OCCURRENCES
3 INCONGRUITIES
4 PROCESS NEEDS
5  INDUSTRY AND MARKET CHANGES
6 DEMOGRAPHIC CHANGES
7 PERCEPTUAL CHANGE
8 KNOWLEDGED BASED CONCEPTS

I would like to go into details, by explaining the innovative ideas listed above for better understanding and analysis.

Hi everyone, it's about 2am now in Nigeria, and I have been working my ass out. since i can't catch any sleep, i decided to give you updates on my entrepreneurship course. At this point we are dealing with social entrepreneurship, social problems, difference between creativity and innovation,  and sources of innovative ideas.
First of all social entrepreneurship is a process that begins with the recognition of a social opportunity that is translated into an entreprise concept ; resources are identified & aquired to execute the entreprise goals.
 Most of the social problems of Nigeria for example are unemployement, poor housing, unhygienic environment, poor english skills, high crime rate and poverty.

The best way to tackle this situation is through creativity and innovation.
                                                                                                                                                                                                                                                                 

Hello everyone, how did your day go? i guess fine and if it wasn't, tommorow would be better. there is something i  felt you all should know about entrepreneurship. it is the major factor of production in any economy, it implies an exercise of leadership aided by maturity of character, a sence of security and willingness to undertake risks. Judging from how factors of production (land, labour and capital) were used to carry out production, it therefore followed that effective production in the traditional economy of Nigeria was undoubted. Without enterpreneurship, all other factors of production could, in fact, not be used. Entrepreneurship has been practised way back from the pre-colonial era.

 Kent Melville, Autistic 9-Year-Old, Starts Soda Business To Help Other Autistic Children

Kent Melville's father was skeptical when his son first said that he wanted to use the profits from his successful summer lemonade stand to start his own soda company. Aaron Melville, who teaches business classes at a local college, did not believe his 9-year-old autistic son was ready to run his own business.

Kent was determined to do something to help others with autism, however, which inspired his father to reconsider. Aaron described on a Facebook page for the organization, why he decided to help his son start Kent's Soda after initially encouraging him to wait until he was older.

Kent pondered that for a minute. He then looked at me and said "Dad, I have everything I need right now, but there are lots of other kids with autism that can't do the things they want or need. I want to be able to help them get some of the things they want with the money we earn. Can't we start now? I don't want to wait." I had never been prouder. With a tear of gratitude in my eye, I agreed.

Though he has enlisted the help of his parents, students at a local community college, and members of the faculty, The Caledonian Record describes how the young entrepreneur is taking charge of his business.

Kent has chosen the flavors himself, and they currently include root beer, orange, lemonade, raspberry limeade, grape, strawberry and cream soda. Kent plans to add an additional flavor each year. The first one will be root beer mixed with orange.

He has come up with a marketing plans that will include a giant root beer volcano, and rejects others ideas when he doesn't agree with them.

One proposal suggested targeting a market of soda pop buyers in an age group from 13 to 24. Kent's response was, "What? Are you stupid? That would mean I couldn't drink my own soda."

Gimundo reports that Kent's sodas were featured at the 2011 Johnsbury World Maple Festival earlier this year. They are also sold at a local farm, a nearby restaurant, and the old-fashioned way -- from a stand set up near Kent's house.

Kent's Soda may outgrow the stand quickly, however. According to The Caledonian Record Kent and his family have high hopes for the small company.

A bottler was signed up and the first 24 cases of Kent's soda was turned out by the Walpole, N.H., company, which says he can keep up with 25,000 bottles at a time, but may have to rework things if sales really take off.

Social entrepreneurship  as defined by Dr. Donald. F. Kuratko  is a new form of entrepreneurship that exhibits characteristics of noonprofits, governments, and businesses. It applies traditional (private-sector) entrepreneurship's focus on innovation, risk taking, and large-scale transformiation to social problem solving.
                                 
                    THE AIM OF SOCIAL ENTREPRENEURSHIP
Adoption of a mission to create and sustain social value (beyond personal value)
Recognition and relentless pursuit of opportunities for social value)
Engagement in continuos innovation and learning
Action beyond the limited resources at hand
Heightened sense of accountability
Social entrepreneures are creative thinkers continuosly striving for innovation, which can involve new technologies, supply sources, distribution outlets, or methods of production. They are change agents that creat large-scale change using pattern breaking ideas, they address the root causes of social problems, and they possess the ambition to create systemic change by introducing a new idea and persuading others to adopt it.
One of the greatest challenge of social enterprise is the environment, so Hawken and McDonough brought about key steps to tackle the challenge.
1. Eliminate the concept of waste; seek newer method of production and recycling.
2. Restore accountability; Encourage consumer involvement in making companies accountable.
3. Make prices reflect cost; Reconstruct the system to incorporate  a " green fee " where taxes are added to energy, raw materials, and services to encourage conservation.
4. Promote diversity; Continue researching the need compatibility of our ever evolving products and inventions.
5. Make conservation profitable; Rather than demand "low prices" to encourage production shortcuts, allow new cost for environmental stewardship.
6. Insist on accountabilty of nations; Develop a plan for every trading nation of sustainable development enforced by tariffs.

Palo Alto home

Address

2101 Waverley Street

Palo Alto, CA 94301

See in Google Maps >

Steve bought his Palo Alto home in the mid-1990s, after his marriage with Laurene Powell. The house is the British country style, it fits beautifully with the rest of this quiet neighborhood — and certainly does not stand out as the house of a high-tech/media mogul. From people who have seen it, the house is lightly furnished, but much more so than Steve's bare Woodside mansion during his bachelor days. Steve lived in this house for twenty years, and died there on October 5, 2011, surrounded by his family.

After Steve Jobs was granted the right to demolish the Jackling house in 2010, speculation arose as to when he would leave Palo Alto for a brand new house in Woodside (see Woodside mansion). There were also rumors he would move to France for his retirement, as his wife was seen touring the château de Sannes in the South of France in the fall of 2010. Unfortunately, Steve's deteriorating health obliged him to stay housebound in Palo Alto, and none of these plans ever came true.

Although late Apple visionary Steve Jobs was never a fixture at the mogul retreat in Sun Valley, Idaho, it appears that his wife has taken a real shine to the place.

Laurene Powell Jobs purchased a home in the area within the last few days.

The house, on the border with nearby Ketchum, Idaho, is said to be a small double A-frame home valued between $3 million and $4 million.

The house has three bedrooms, two and half baths and three fireplaces and is located next to a river's edge in a wetlands area.

Powell Jobs, who is expected to attend the Allen & Co. annual conference, is Silicon Valley’s richest woman, worth an estimated $9 billion, according to Forbes.

laurene powell jobs is very hard working, but at thesame time she finds time to giveherself a break and have some fun. she spends her  money on expensive exotic cars. Apple founder Steve Jobs’ widow Laurene Powell Jobs drives around in a silver Audi A5. This car is what $37,000. 

Laurene Powell Jobs, the widow of legendary Apple cofounder Steve Jobs, inherited a fortune after Jobs died in October 2011 that makes her the wealthiest woman in Silicon Valley. She maintains control of living trusts under her late husband's name, among them the Steven P. Jobs Trust, which is the largest shareholder of Walt Disney Co., with a 7.7% stake. The stake in Disney, at $6.9 billion, is worth nearly twice that of Jobs' shares in Apple. Steve Jobs met Laurene Powell in 1989 after giving a talk at Stanford University, where Powell was a student in the Graduate School of Business. Less than two years later, they were married in Yosemite. The couple had three children together. Powell Jobs, a strong advocate of education and immigration reform, sits on the boards of several nonprofits, including the NewSchools Venture Fund, Conservation International and College Track, an organization she founded that is designed to ensure admittance to and graduation from college for underserved students. She recently stepped down from her position on the board of the New America Foundation. Powell Jobs is also the founder and chair of the Emerson Collective, which works with entrepreneurs to advance education, immigration reform, social justice and conservation. In September, she was appointed to Stanford University's board of trustees. Powell Jobs was an angel investor in SocialCam, a mobile video sharing startup that was bought by Autodesk for $60 million in July. Earlier in her career, she spent several years working in investment banking and later cofounded a natural foods company in California.

Laurene Powell Jobs

No. 28: $11 Billion

Age: 48

Widow of legendary Apple cofounder Steve Jobs is now the wealthiest woman in Silicon Valley. A Stanford business school student when she met her husband, Powell once started a natural foods company and was an angel investor in SocialCam, a mobile video-sharing startup bought by Autodesk for $60 million in July. She also founded 2 nonprofits: College Track, designed to ensure admittance to and graduation from college for underserved students, and the Emerson Collective, which works with entrepreneurs on immigration reform, social justice and conservation. She was recently appointed to Stanford’s board of trustees.

Laurene Powell Jobs & family

Net Worth

 

$11 B As of September 2012

At a Glance

• Founder and Chair, Emerson Collective
• Age: 48
• Source of Wealth: Apple, Disney
• Residence: Palo Alto, CA
• Country of Citizenship: United States
• Education: Master of Business Administration, Stanford Graduate School of Business; Bachelor of Arts / Science, University of Pennsylvania; Bachelor of Arts / Science, University of Pennsylvania Wharton School
• Marital Status: Widowed
• Children: 3

Forbes Lists

#28 Forbes 400

#49 Power Women

#100 Forbes Billionaires

• #36 in United States

Laurene Powell Jobs

No. 28: $11 Billion 

I am so so sorry to have left you all for this long. nature was playing one of it's games with me, but now am strong and ready to continue my journey with you all. I missed you all, and I also want to say a very big thank you to all those people out their viewing my page and following. It tells me how much you buy my ideas and how great you want to become in future.

                                                                   HAPPY VIEWING

More examples include;POST- IT NOTES
Spencer Silver and Art Fry are intrapreneures from 3M Company that was launched in 1980. The company permits their employees to spend 15 percent of their work time developing their ideas. That was how 3M scientist Spencer Silver invented a light repositionable adhesive in 1968. Although he wasn’t sure how best to use it, he spent time explaining the benefits of his adhesive to co-workers. Five years later, Art Frey one ofnclude Silvers colleagues noticed his bookmarks were constantly falling out of his hymnals during choir practice. He remembered Silvers seminars, and in that “Eureka” moment, the post- it was born. The product languished until a marketing manager Bill Shoonenberg designed a campaign called the “Boise Blitz” to drive sales and blanketed the state of Idako in the post-it s-. The sticky notes went national in1980 and quickly became an office supply and household standard.

Corperate intrepreneurship or Intrapreneurship is the process of profitabilty and creative innovation within an organised setting. on the other hand Entrepreneurship as i explained a week or two ago is a dynamic process of vision, change and creation which requires the application of passion and energy towards the implimentation of new ideas and creative solutions. this is one good example of an intrapreneure...                                                                                         DIGITAL LIGHT PROCESSINGLarry Hornbeck is an intrapreneur in Texas instrument that was launched in 1996. He is a TI researcher who had been tinkering for a decade with technology using tiny mirrors to redirect photons. When his team developed the Digital Micro mirror Device in 1987 DMD initially was used to print out airline tickets, but the government’s Defence Advanced Research Projects Agency initiated research in high-definition video and awarded TI and other manufacturers a multi-million dollar contract to work on the issue. TI execs started an internal venture called the Digital Imaging Venture Project and tapped Hornbeck to lead it. At the time, video projectors weighed 40 to 50 pounds and cost $15,000 to $18,000. Hornbeck realized DMD technology could greatly shrink the size and cost of a digital projector. Digital Light Processing quickly became an industry standard, dominating the market in projectors less than five pounds. The technology also has revolutionized the movie theatre business and allowed Texas Instruments to compete in the HDTV market. Hornbeck received an Emmy for Outstanding Achievement in Engineering Development in 1998.

                

Hi every one, it's so good to see you again. I hope all are enjoying every moment of your life because I am.
Today i would like to share with you the difference between intrapreneurship and entrepreneurship.Before I go on, theses are the views of the people around me.

                                             ENTREPRENEURIAL QUALITIES
There certain qualities that make entrepreneurs stand out in the crowd and even among their counterpart

1. Confidence
2. Intelligence
3.Egotism
4. Courage
5. Sense of power
6. Flexibility
7. Initiative
8. Responsibility
9. Persistence
10.Creative
11.Inquisitive
12. Goal- oriented
13. Independent
14. Self demanding
15. Self confidence
16. Risk takers
17. Restless
18. Action- oriented
19. Enthusiastic
20. Fore sight

                                         ARE YOU A HIGH ACHIEVER?
Guess what everyone, today I did an interesting task in my entrepreneurship class on how to find out if you are a high achiever or not. Here are some of the questions that were asked.

1. An instructor in one of your college classes has asked you to vote on three grading options:(a) study the course material, take the exams, and receive the grade you earn; (b) roll a die and get an A if you roll an odd number and a D if you get an even number; (c) show up for all class lectures, turn in a short term paper and get a c. Which of these options will you choose?


2.How would you describe yourself as a risk taker? (a) High, (b) Moderate (c) Low.

3. You have just been asked by your boss to take on a new project in addition to the many task   you are already doing. What would you tell your boss? (a) Since I'm already showed under I cant't handle anymore. (b) Sure, I'm happy to help out; give it to me. (c) Let me look over my current Workload and get back to you tomorrow about whether I can take on any more work.

4. Which one of this people would you most like to be? (a) Steve Jobs, founder of apple computers, (b) Lee Iaccoca of Chrysler fame, (c) Jack Welch

5. Which one of these games would you most like to play? (a) Monopoly  (b) Bingo (c) Roulette.

 The scoring method is
 a         b          c
10       0           2
2         10         2
6          2         10
7         10        2
10        0         0

High achiever 38-50
moderate        25-45
Low achiever less than 25  

All Entrepreneurs Need Is Money.                                                                                     Could this statement be true? It might look true to you, but before you come to a conclusion, I would like you to analyze this story. I gave Mr Ayuba #100, 000 to set up a good business that would yield good profit. I was hoping to see the business grow and hear about its expansion. One year later, I visited Ayuba; to my greatest surprise the shop was shut down and he couldn’t give proper account on how the #100,000 was spent.                                                                                                                                                                                                                                                                    I decided to find out on my own what could cause a business to fail so quickly and I got my answers crystal clear.It was because of Managerial incompetence, which is lack of intelectual and physical qualification...  lack of financial understanding, poor investment, poor planning, etc. For true entrepreneurs who practice the above business tips, money is a resource to them and never an end in itself. (KURATKO)            
In conclusion, I think if you give a man without entrepreneurial thought, who is not driven by passion or a creative mind the sum of $1 billion; he wouldn’t be as productive as expected, because he lacks the tools to build up a solid business foundation that is meant to metamorphose into something big and yield good profit

I would like to lay my emphasis on three basic myths of entrepreneurship, which I feel has made people feel out of place or hinder them from advancing. The first myth is for people to think that “ENTREPRENEURS ARE BORN NOT MADE”. The misconception that characteristics of entrepreneurs can’t be taught or learned – that they are innate traits one must be born with- is actually appalling. You find so many creative people all over the world jobless because of their perception of life; what would be would be or some superstitious believe that poverty is in their lineage. I am here to let you know that you are what you repeatedly do excellence then is not an act but a habit.”PERICLE” nobody is born great. The difference between entrepreneurs and small business owners is that they are driven with energy and passion, ready to take calculative risk to achieve what you could call the unimaginable to the small business owner. People feel entrepreneurs are born with traits such as aggressiveness, initiative and drive, a willingness to take risk, analytical ability, and skill in human relations. Today however, the recognition of entrepreneurship as a discipline is helping to dispel this myth. Like all disciplines, entrepreneurship has models, processes, and case studies that allow the topic to be studied and the knowledge to be acquired.                                                                                                                                                 

Secondly entrepreneurs have also been tagged as inventors. This sound right, but am sorry it’s not. you do not  have to build a sky scraper or have the biggest manufacturing company in the world to be an entrepreneur, neither do you have to create or manufacture anything yourself rather when you sell your ideas to those who have the ability to invent or create things you’ve practically become one of  entrepreneurs in that business plan. Entrepreneurship goes beyond invention; it requires absolute comprehension of innovative behaviour in all its forms.                                                     

THORLEIF ENGER                  ALIKO DANGOTE

---

Aliko Dangote who is Nigeria’s first billionaire and richest person, with an estimated net worth of $11.2 billion dollars, started his career as a trader. He was only twenty one years old when he put the loan given to him by his uncle into good use (Mars). As ordinary as he seemed then, today, he qualifies as extra ordinary. I bet his uncle never knew his loan was going to transform his little nephew into one of the world’s richest men.

HI everyone

I am excited again to share some entrepreneurship secrets with you. Okay, “secret” is probably not the right word. However, my awesome entrepreneurship instructor has done it again; she has literally renovated my mental furniture and corrected some of the misconceptions I had about entrepreneurs.

Before getting you really excited about my entrepreneurship class, it will only be fair to better define the concept, entrepreneurship. To do this, I use the words of Robert C. Ronstadt, one time associate professor of Management, when he says, “entrepreneurship is a dynamic process of vision, change and creation, which requires an application of energy and passion toward the creation and implementation of new ideas and creative solutions” (Kuratko 5). Okay I may be boring you with the basics now, but trust me, it will only make the main topic more interesting.

 Also important to note is that the fancy word “entrepreneurship” was coined from the French word entreprenire which means “to undertake”. Though intelligent scholars have brilliantly defined this concept, I understand entrepreneurship as the ability to undertake calculative risk, having the basic skills such as managerial competence which is the quality of being adequately or well qualified physically and intellectually, good financial understanding, wise investments ... with the aim of achieving profit, growing your business etc.

With this definition, I am sure we can move on to the topic for today which is the myths of entrepreneurship. ADAM SMITH IN HIS QUOTES SAID, “THE REAL PRICE OF EVERY THING, WHAT EVERY THING REALLY COSTS TO THE MAN WHO WANTS TO ACQUIRE IT, IS THE TOIL AND TROUBLE OF ACQUIRING IT”.

                                        MONEY IS GOOD, YOU EAT WELL AND LARGE. ENJOY!

HI EVERY ONE, I GUESS YOU ARE WONDERING WHO THIS YOUNG LADY IS, SHE IS THE ONE WITH THE BUSSINESS MIND....

                                               ENTERPRENEURSHIP
1964: Peter Drucker: An entrepreneur searches for change, responds to it and exploits opportunities.     Innovation  is a specific tool of an entrepreneur hence an effective entrepreneur converts a source into a resource.The most significant influence on an individual's decision to become an entrepreneur is workplace peers and the social composition of the workplace.^{[citation needed]} The ability of entrepreneurs to innovate relates to innate traits such as extroversion and a proclivity for risk-taking. According to Schumpeter (1934), the capabilities of innovating, introducing new technologies, increasing efficiency and productivity, or generating new products or services, are characteristics of entrepreneurs. Entrepreneurs are catalysts for economic change. Research has found entrepreneurs to be highly creative with a tendency to imagine new solutions by finding opportunities for profit or reward.^[2]s a specific tool of an entrepreneur hence an effective entrepreneur converts a source into a resource.
            There are so many benefits to enterprenureship, and they include self employment, further development of industry especially in rural areas, processing materials into local goods for domestic consumption and exportation, increased economic growth and income, development of new market and promotion of mordern technology in small scale manufacturing......so u see, u are all on the right flight. lets fly...................................