Entrepreneurship

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Entrepreneurship

  1. 1. Session 1 <br />Agenda<br /><ul><li> Orientation
  2. 2. Introduction
  3. 3. Why Entrepreneurship
  4. 4. Qualities of an entrepreneur </li></ul>ENTREPRENUERSHIP <br />*Entrepreneurship curriculum designed by SaadSarfraz<br />
  5. 5. Instructor`s Introduction <br />Name <br />Graduation <br />Professional Experience <br />Entrepreneurship Experience <br />
  6. 6. Entrepreneurship <br /> Nomenclature <br />Dictionary Definition<br /> Modern Day Connotation <br /> Examples of Entrepreneurs <br />Henry Ford <br />Bill Gates <br />Mian Mohammad Mansha (Pakistan) <br />
  7. 7. Qualities of an Entrepreneur <br /> Risk Taker<br /> Innovator<br /> Initiator <br /> Relentless <br /> Perfectionist <br /> Authority vs. Compliance <br />
  8. 8. Historical Development of Entrepreneurship<br />Session 2 <br />AGENDA <br /><ul><li> Historical development
  9. 9. Theories of entrepreneurship </li></li></ul><li>Historical Development <br />Major Contributors<br />Richard Cantillon<br />Jean-Baptiste Say <br />Thomas Malthus <br />Adam Smith <br />David Ricardo <br />John Stuart Mill<br />Alfred Marshall<br />Peter Drucker<br />Joseph Schumpeter <br />Frank H. Knight <br />
  10. 10. Theories of Entrepreneurship <br /> Classical Political Economic Theory (Eighteenth Century)<br />Adam Smith<br />Thomas Malthus<br />David Ricardo<br />John Stuart Mill<br />Karl Marx<br /> Marginal Utility School of Thought ( Nineteenth Century)<br />John Bates Clark<br /> Alfred Marshall<br />Thorstein Veblen <br /> John Rogers Commons<br />
  11. 11. Theories of Entrepreneurship (continued)<br /> Intellectual Innovation and Creative Destruction School of thought (Twentieth Century) <br />John Robinson <br />Edward Chamberlin <br />John R. Hicks<br />John Maynard Keynes <br />Joseph Schumpeter <br />
  12. 12. Session 3 <br />Agenda<br /><ul><li> Economic Significance of entrepreneurship
  13. 13. types of entrepreneurs
  14. 14. Announcement PEC PROFILE PRESENTATION Session 4 </li></ul>Economic Significance of Entrepreneurship<br />
  15. 15. Economic Significance of Entrepreneurship <br />Linking Entrepreneurship to Economic Growth <br /> Employment <br /> Income Distribution <br /> GDP <br />Theoretical Findings <br />Schumpeter's Theory of Long Waves <br />Empirical Findings <br />Global Entrepreneurship Monitor (GEM)<br />
  16. 16. Economic Significance of Entrepreneurship (Continued )<br />Conceptual Framework linking Entrepreneurship and Economic Growth <br />
  17. 17. Economic Significance of Entrepreneurship (Continued )<br /> GEM Conceptual Model <br />
  18. 18. Types of Entrepreneurs <br /> The Achiever <br /> The Salesperson<br /> The Manager <br /> The Inventor <br />
  19. 19. Session 4<br />agenda<br /><ul><li> Presentation 1
  20. 20. Brief lecture on the topic </li></ul>Psychological Profile of Entrepreneurs <br />
  21. 21. Presentations <br />
  22. 22. Psychological Profile of Entrepreneurs <br /> Personal Attributes <br /> Environmental Factors <br /> Sociological Factors <br />Evaluating Opportunities for New Venture <br />Opportunity <br />Timing <br /> Management Team <br /> Resources <br />
  23. 23. SESSION 5<br />AGENDA<br /><ul><li>MARKET EVOLUTION
  24. 24. CREATIVEDESTRUCTIN AND INNOVATION</li></ul>Market Evolution and Creative Destruction <br />
  25. 25. Creative Destruction<br />“The era of the intelligent man/woman is almost over and a new era is emerging – the era of the creative man/woman” Pinchas Noy<br />Dynamics of Capitalism<br />Defining Creative Destruction<br />Competition and Creative Destruction<br />
  26. 26. Creativity and Innovation<br />Role of creativity and major components of the creative process<br />Knowledge accumulation<br />Incubation process<br />Idea experience<br />Evaluation<br />Implementation<br />Ways of developing personal creativity<br />Recognize relationships<br />Develop functional perspective<br />Use “brains”<br />Eliminate muddling mind-sets<br />
  27. 27. Creativity and Innovation (continued)<br />Four major types of innovation<br />Invention<br />Extension<br />Duplication<br />Synthesis<br />Sources of innovation for entrepreneurs<br />Myths associated with innovation<br />10 principals of innovation<br />Financial support for innovation<br />
  28. 28. SESSION 6<br />AGENDA<br />Nurturing an Enterprising Culture<br />
  29. 29. The Importance of Emulating Enterprising Culture<br />Max Weber<br />Impact of culture on business growth<br />High productivity<br />Savings<br />Discouraging conspicuous consumption<br />Allan Gibbs’s definition of an enterprising culture<br />
  30. 30. Role of Minority Culture<br />Pursuit of success in business and chosen profession<br />Starting at an early age<br />Minority cultures known for enterprising behavior<br />Gujratis in India<br />Sialkotis and Chiniotis in Pakistan<br />Afghan traders in Bara markets<br />Asians in East Africa<br />Chinese in South Asia<br />
  31. 31. Promoting Enterprising Culture<br />Enterprise award schemes and endorsements<br />Entrepreneurship and business education<br />Entrepreneurship apprenticeship schemes<br />Supporting youth associations<br />Entrepreneurship in career counseling<br />Macroeconomic policies for entrepreneurship<br />Resources for entrepreneurs<br />Motivation<br />
  32. 32. Training and Capability Building<br />“ If money is your hope for independence, you will never have it. The only real security that a man can have in this world is a reserve of knowledge , experience and ability” Henry Ford<br />Competence as a function of knowledge, training and experience<br />Rationale for a training program<br />Awareness of strengths and weaknesses<br />
  33. 33. Session 7 <br />Agenda <br /><ul><li> Presentations
  34. 34. Brief Lecture </li></ul>Presentation: How to Finance a New Business <br />
  35. 35. Financing a Small Business (Risk-Return Payoff )<br /> Personal Equity <br />Partnership<br /> Debt Financing <br />SME banks <br />Loan against collateral<br /> Venture Capital<br />Angel Investors<br />Venture Capital Firm <br />
  36. 36. Session 8<br />Agenda <br /><ul><li> Evaluating opportunities for new business
  37. 37. Determining resources need and acquiring resources </li></ul>Conceiving a Business Opportunity<br />
  38. 38. Evaluating Resources for New Business <br /> The Opportunity<br />The Customer <br />The Timing <br />The Management Team <br />Resources <br />
  39. 39. Determining Resources Needs <br />Financial Capital <br />Debt Capital <br />Equity Capital <br />Physical Capital<br />Land<br />Building <br />Machinery <br />Human Capital<br />Skilled Labor <br />Unskilled Labor <br />Acquiring Resources <br />
  40. 40. Role of Entrepreneur<br /> Function<br />Ties all the Resources <br />Reward<br />Profits <br />Personal Satisfaction <br />
  41. 41. Ingredients for a Successful Enterprise <br />Rosabeth Kantar's nine Fs for Successful Business <br />Founders first class Entrepreneurs <br />Focused focus on niche market <br />Fast  decision making process<br />Flexible  response to changes<br />Forever Innovating  tireless Innovators <br />Flat few layers of Management <br />Frugal low overhead high productivity <br />Friendly to customer/suppliers/employees<br />Fun to be associated with<br />
  42. 42. Session 9<br />Agenda <br /><ul><li> Components of a business Plan
  43. 43. Writing a business plan </li></ul>Business Plan <br />
  44. 44. Business Plan <br />What is a Business Plan <br /> Document illustrating the complete business opportunity <br /> Road Map to reach set goals <br />Need for a Business Plan<br />Identifies Needs <br />Identifies Resources <br />
  45. 45. Significance of a Business Plan <br />Identification of the Opportunity <br />Financiers<br />Explains the opportunity to the financiers <br />Need Analysis <br />SWOT Analysis <br />Setting Goals <br />Rationalize Expectations <br />Risk Management <br />Visibility into operational issues (Marketing, Logistics , Budgeting etc.)<br />
  46. 46. Components of a Business Plan<br /> Cover Page <br /> Table of Contents<br /> Executive Summary<br /> Description of the Opportunity<br />Statement of Purpose<br />Description of Business<br />Alternative Option <br /> Competition<br /> Market Strategy <br /> Location<br />
  47. 47. Components of a Business Plan (Continued)<br /> Management <br /> Personnel <br /> Application and Expected effect of Loan <br /> Exit Strategy <br /> Summary <br /> Appendices <br />Cash Flow Projections <br />Income Statement <br />Balance Sheet <br />Supporting Material <br />
  48. 48. Session 10<br />Agenda <br /><ul><li> Introduction to marketing
  49. 49. writing a marketing plan
  50. 50. presentation 3 announcement “ Business plan final business activity”</li></ul>Marketing Plan for Small Business <br />
  51. 51. Introduction to Marketing <br />Market Research /Need Analysis <br />Product Design <br />Product Development <br />Branding <br />Product Promotion <br />Product Distribution <br />
  52. 52. Need Analysis <br /> What a Consumer wants<br />Smart Entrepreneurs are always on the lookout for Opportunities <br />Most Successful Products create their own Demand<br />Methods of getting Information <br />Market Research Data <br />Surveys <br />Consumer Perception <br />
  53. 53. Product Design and Development <br />Design<br />Consumer requirement <br />Consumer Aesthetics<br />Consumers Appeal <br />Specifications<br />Functionality <br />Development<br />Quality Assurance <br />Branding<br />Brand Loyalty <br />Brand Equity <br />
  54. 54. Types of Consumer Products <br />Convenience Products <br />Shopping Products <br />Specialty Products <br />Unsought Products <br />
  55. 55. Promotion and Distribution <br /> Promotion Avenues <br />Advertisement <br />Viral Marketing<br />Internet <br />Trade shows and Exhibitions <br />Distribution <br />Defined network <br />Supply Chain Management <br />Logistics <br />
  56. 56. Components of a Marketing Plan <br />Product<br />Price<br />Placement<br />Promotion<br />Service<br />
  57. 57. Session 12<br />Agenda<br /><ul><li> Resources
  58. 58. Synergies
  59. 59. tying these two together</li></ul>Attracting Resources and Creating Synergies <br />
  60. 60. Resources<br />Determining need for resources<br />Acquiring resources<br />Critical items should be obtained thriftily<br />Role of sub-contracting<br />Start-up capital; deciding between debt and equity<br />Profit potential <br />
  61. 61. Financing<br />Debt or equity financing<br />Internal or external funds<br />Personal funds<br />Family and friends<br />Commercial banks<br />Cash flow financing<br />Government grants<br />Private placements<br />
  62. 62. Session 17 <br />Agenda <br /><ul><li> Defining a Small enterprise
  63. 63. registering a small enterprise
  64. 64. legalities of a small enterprise </li></ul>small Enterprise <br />
  65. 65. Defining a Small Enterprise<br />Bolton Report definition<br />EU definition<br />Definitional aspects and problems <br />Policy considerations<br />Importance<br />
  66. 66. Session 18<br />Agenda <br /><ul><li> Acquiring finance
  67. 67. acquiring human resource
  68. 68. acquiring physical capital
  69. 69. acquiring intellectual capital
  70. 70. tying these together
  71. 71. Discussion session </li></ul>Resource need of a Small Enterprise<br />
  72. 72. Financing – A new Dimension for Small Enterprise<br />Early stage financing<br />Development financing<br />Acquisition financing<br />Informal risk- Capital market<br />Venture Capital <br />Nature of venture capital<br />Overview of venture capital industry<br />Venture capital process<br />Locating and approaching venture capitalists<br />
  73. 73. Session 19<br />Agenda <br /><ul><li> Setting up hierarchies
  74. 74. Human resource management
  75. 75. discussion: forecasting sales
  76. 76. Assignment forecasting </li></ul>Small Business Human Resource Management <br />
  77. 77. Session 20<br />Agenda <br /><ul><li> marketing mix
  78. 78. marketing strategies </li></ul>Small Business Marketing Strategy <br />
  79. 79. Session 21<br />Agenda<br /><ul><li> why advertise
  80. 80. avenues of advertisement </li></ul>Devising an Advertisement Campaign<br />
  81. 81. Session 22<br />Agenda<br /><ul><li> how to budget a small business</li></ul>Budgeting a Small Enterprise <br />
  82. 82. Session 23<br />Agenda <br /><ul><li>basic accounting for small enterprise
  83. 83. basic rules (taxation) for small enterprise
  84. 84. home assignment </li></ul>Small Enterprise Accounting and Taxation<br />
  85. 85. Session 24<br />Agenda<br /><ul><li>Management in the new era
  86. 86. Tips for management
  87. 87. Strategies for successful business operation</li></ul>Business Management Tips for Small Enterprise<br />

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