Learning entrepreneurship 101 was one of the fun-filled part of my first semester in the university, it has really helped me to enlarge my views on how i see business and for opportunities not to slip me by.
          Having a business is not always about buying and selling but also about how to take calculated risk and finding ways to solve problems when the need arises. I would like to use this opportunity to say a BIG THANK YOU  to my teacher Ms Jelena zivkovic for teaching and giving me the opportunity to know what ent is all about and also to my course-mates and my blog page viewers thank you and i hope you found my blog quit interesting.

SOCIAL ENTREPRENEURSHIP

Hello Everyone,

            Earleir on we had a discussion about corporate entrepreneurs and thier nterest, but this time we are going to be taking a look at SOCIAL ENTREPRENEURSHIP and thier major interest concerning the different classes in our modern society that is the lower, middle and upper class.
     Social Entrepreneurship can be defined as a new form of entrepreneurship that exhibits characteristics of nonprofits, government, and businesses. It applies the traditional (private-sector) entrepreneurship's focus on innovation, risk taking and large scale transformation to soial problem.
     Who is a Social Entrepreneur??
A social entrepreneur is a person  or small group of individuals who founds or leads an organization engaged in social entrepreneurship. Social entrepreneurs are aimed at providing  for the people at the lower class rather than those in the upper class and at the same time they make profit of thier own and also see the business of that individual grow. A social entrepreneur also works for social capital by founding humanitarian organizations.

• They are also called "public or civic entrepreneurs and also "social innovators".

One major difference between a social entrepreneur and a corporate entrepreneur is that a social entrepreneur is aimed at helping the people at  the lower class by providing thier basic needs, they also gain profit  but they help in the development of these peoples business.

An example of a social entrepreneur is Susan.B. Anthony

Susan Brownell Anthony (February 15, 1820 – March 13, 1906) was a prominent American civil rights leader who played a pivotal role in the 19th century women's rights movement to introduce women's suffrage into the United States. She was co-founder of the first Women's Temperance Movement with Elizabeth Cady Stanton as President. She also co-founded the women's rights journal, The Revolution. She traveled the United States and Europe, and averaged 75 to 100 speeches per year. She was one of the important advocates in leading the way for women's rights to be acknowledged and instituted in the American government.

MMYTH: ALL ENTREPRENEURS NEED IS LUCK
Being in "the right place at the right time" is always an advantage, but "luck happens when preparation meets opportunity" is an equally appropiate adage. Prepared  entrepreneurs who sieze the opportunity when it arises often seem "lucky". They are infact simply better prepared to deal with situations and turn them into successes. What appears to be luck is actually preparation, determination, desire, knowledge, and innovatiness.

                                    FRANCHISE

What is Franchise?

Franchise can be defined as a procedure by which the owner of a brand-name, trademark or copyright has licensed others to make use of them in selling goods and rendering out services to customers.

Brooke bob also defined franchise as a business arrangement in which the developer/owner (the franchisor) of a business concept grants others (the franchisee) the licensed right to own and operate a business based on  the franchisor's business concept.

Franchisee

A franchisee is the purchaser of the franchise, he is fully and legally independent  but economically dependent on the integrated business system of the owner.

Franchisor
This is the owner of the franchise.



ADVANTAGES IF FRANCHISING

A Proven-track Record
     This is just trying to say that once a franchise is common for thier good product and they have a success trail for good business and thier overall management is good that means the franchise has a good proven-track record and can be purchased.

Training and Guidance
     If a franchise is bought the franchisor gives training to the franchisee on how to run the business and gives him guidlines on what to do if he encounters any problem.

Financial Assistance
    The franchisr can assist the franchisee financially by lending him a sum of amount to finance the business properly and this money might be asked to be paid back when the franchisor sees some positive changes on the business.

Brand-name Appeal
      If you purchase a franchise with a good brand-name for example;Dunkin donuts your liable to have a successful business if the same services are provided like the other outlets.

An example of an international franhise is subway

An example of a national franchise

Creativity and Innovation

         Today in class we started chapter 5 and we spoke about what creativity meant:-it can be defined as the generation of ideas that results in the improved efficiency and effeccttiveness system while innovation was said to be the process of turning opportunities into marketable ideas. The major diference between this two is that creativity is thinking or designing an idea while innovation is putting it into action.
             Some of the sources of Innovative ideas are trends,procesneeds,incongruities,knowledgable-based concepts and so much more. I would like to give brief examples of some of the sources:

• Trends e.g. societal trends-health and fitness growth,technology trends internet advance,economic trends-performance pressures and government trends-terrorism
• Process needs e.g. creation of new medical devices
• Unexpected occurences- These are unplanned events that come up unknowingly e.g. Dana air crash,retrenchment of bank workers.
• Incongruities- When there is a gap or difference between expectations and reality e.g. Fred smith created FedEx.

                                                      TYPES OF INNOVATION

• Invention- This is all about creating and innovating something new. For example the wright brothers were the first to create an airplane.

• Extension: This all about making a new use of an already existing product,service or process . For example Ray kroc the inventor of McDonalds.
• Duplication: Creating the exac thing someone has created.
• Synthesis: Combining of existing concepts and facts into a new formulation or use. For example Fred smith the owner of FedEx.

Co-operate Entrepreneurship

          Entrepreneurship an be defined as the dynamic process of vision, change and creation which requires themapplication of energy and passion for implementing ideas and creative solution. Co-operate Entrepreneurship can be defined as the process of profitability or creating innovation within an organisational setting.
         An Intrapreneur is one who gets the idea for his/her company and his backed up with encouragement and financial support. Example of an intrapreneur is KEN KUTARAGI of the company of sony computer Entretainement Inc.
Some of the reasons for Co-operate entrpreneurship are:-

1. Many competitors, sophisticated, more money invested.
2. A sense of distrust in the traditional methods of co-operate management.
3. An overall desire to improve efficiency and productivity.

Achievers test

A test was conducted in my last entrepreneurship about knowing your stand on the achievers scheme i was graded 69% which kept me in the grade of a mderate achiever. I think i was graded a moderate achiever because i dont really like taking risk and i might consider myself first first before takind any, Feel free to leave your comments.