Table Of Content

MlCROFICH REFERENCE The Practice of Entreweneursh~i2 Avaikble frm: ublications ranch, ILO, same addwss Reproduced 4y permfsSi0~. Reproductfon of this microfiche &xument in any fern is subject to the same restrictions as those of the original document, f~e~t~v~~ess 64 trarning systems, schemes and ~nstltutrons and to establrsh r~333-23~ trarnrng ~~~1~~~~ and pragrammes; t&j t9 ~rn~~~vet~ ~~~~rtu~~tle~ ~vai~a~ief~r the acquksttlon cf occupational knowiedge. shlls an% ~~m,~~te~~e by workers in various sectors of economic activity, including the rural stxtw ant3 for vari~otis segmf92ts of the population. ~nciudrng women. young people and the d~~a~~~~ &I$ toe m’al;atksma~~g~menFof enterprises K-I different sectors more efficient, through training m modem management sciences ;n order to Increase both productivity and ent’s a~aren~s of its soctal fesoon~~bil~ties. ~~~‘~i~~t~~~s on trainirq rs to spread knowledge about both managerial and vu~atil~~~~ tratting. ~n~f~di~~ new ~~~ro~~hes to training and guides for tackling the various ~~~,bfe~~ encountered in the foBowing areas: devekoping human resources; raising ~~~~~~~~~~ inireas,ing lob satisfaction: and factors affecxing rhe socia-economic environ- melt of the et~t~r~~:se, They cover all levels of training and $1 branches of economic activity The practice sf entrepreneurship CNtERPlATTOMAL LABOUR OFFICE GENEVA ImFe~ti~~ Lab~ut 8&e eqjoy cspytight under hotocoi 2 of the ~cmvtntioa. Pkustiheks. short cxcerprS from them may be reproduced cf3fxMion that the source is indicated. For rights of reproduction of made to the Pubtications Branch (Rights and Permissions), Ztl Genera 22, Swit%eriand.The Intemationai Labaut Office DLef publicatiam which arc in confortnity with United %Wms of materid therein ds not imp& the expression of any opinion tn~emtional L&our OtEcc csneem~~ the legal status of any titles, or eoneeming the delimitation of its frontiers. expressed ia signed art&s, studies and other contributions and publication does not constitute an endorsement by the the opinions expressed in them. IL0 pbtications can be obtain4 through major b~bef3ecs or IL0 local ofices in many direct from lL0 Pubtic&xls, 1ntemation.A Labour Office, CH-1211 Geneva 22, ue M List of new publications wilt be sent free of charge from the PREFACE This book is intended mainly for practising managers, would-be entrepreneurs and management advisers who are interested in developing entrepreneurial skills. Although the international Labour O!&e hcs been promoting enlrcprraeurship development for some time, The pm~ctke a# mtre- prmewship is its first publication on the subject. It has been written by three authors who feel that it fills a gap in management development literature. What is contained in the book can be demonstrated practically and is supported by relevant research. The work is in three parts. Part I deals with the internal or personal characteristics and behavioural traits of entrepreneurs. Part II refers specifk~lly to financial as-s of entrepreneurship in which business suazess is most commonly reflected. Part 111 is about the external aspects of entrepreneurship, such as dealing with people able to help entfepreneufs. Geoffrey G. Meredith is Director of the Financial Management Research Centm University of New England, Armidale, New South Wales (Australia); Philip A, Neck, fonBerly Chief of the Small Enterprise Development Section, Maqement Development Branch, International Labur G&e9 Geneva (Switzerland), is Director of the IL0 Office in New D&i (Ida); and Robert E, Nelson in Chairman of the Division of Rt&ness Education, University of Illinois, Urbana, Ill. (United States). All three authors are proftional management :onsultants and trainers who have worked with entrepreneurs in a widt: range of occupations, covering services, trade and industry in rural and urban setting. They also considef themselves to be relatively entrepreneurial. Their work with the International Labour Of&e and other agencies has allowed them to work ia industriahsed and developing countries throughout Africa, the Am&cas, Asia, Europe, the Middle East and Oceania. What is discussed in this tm& is a distillation of their research and readings, as well as their Y personal experien- and involvement w&h entrepreneurs and those who deal with entrepreneurs. The authors acknowledge their indebtAness and express their thanks to those colleague entrepreneurs, researchers and others who have helped to make this publication possible. CONTENTS I-~Uca~urial...................................... Eatrrptcr#wialphiladopby .................................. Theenrrepreueurasa~Il ............................... Beingenuepreneu~inysurcareer ............................ ~~ialtit~ .......................................... M~~a~titrsdcs .......................................... Imp~Qf~ttiltCdCJ ..................................... Hebits~rrtitudc4 ....................................... 2 flAt&edp .............................................. DcvecBping paurrllties ............................... ~nplip~uisut ...................................... T~~~~~ ........................................ . Ikfsmamtatim ......................................