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  • 1. Entrepreneurship Session-3 16/02/07
  • 2. Lawrence Joseph Ellison
    • The founder of Oracle is one of the most flamboyant and outspoken businessmen of the century, not to mention one of the richest, with a net worth somewhere north of $50 billion.
  • 3. Lawrence Joseph Ellison
    • Ellison's leadership qualities had more to do with his ability to conceive a strategy for his company to survive and grow in the long term and his displaying unshakable determination to make it happen in an increasingly competitive marketplace.
  • 4. Definition of an entrepreneur
    • Entrepreneur is someone, who has the ability and willingness to introduce new products or services, that sell, to a market where those products or services were previously either unavailable or not desired.
  • 5. Difference between managers and entrepreneurs
    • “ Managers manipulate things and information to produce a result that is clearly specifiable in advance.
    • Entrepreneurs try to create what isn’t by a lot of guesswork, improvisation and learning from mistakes.”
  • 6. Key Entrepreneurial Capabilities
    • Passionate with a big idea
    • Innovativeness
    • Managing risk
    • Resource building
    • Creative
    • Observing & identifying changing
    • customer needs
    • Relevant technical & managerial skills & knowledge
  • 7. National Income and Entrepreneurship:
  • 8. Entrepreneurial life cycle Attitude Opportunity Idea Planning Start - up Growth Diversify Time
  • 9. Leadership Skills Management Skills Finance Strategy Planning Marketing Sales Operations Motivation Negotiation Setting Examples Value Systems Vision Inspiration
  • 10. Entrepreneurs who have inspired me Henry Ford Bill Gates Jamshedji Tata Dhirubhai Ambani Steve Jobs
  • 11. The business of motivation
    • Factors of motivation:
    • Educational background.
    • Occupational experience.
    • Desire to work independently.
    • Desire to branch out manufacturing.
    • Family background.
    • Assistance from financial institutions
  • 12. The business of motivation
    • Availability of technology
    • Other factors-demand of particular product etc.
  • 13. Factors:
    • Internal
    • External
  • 14. Factors Internal to Entrepreneurs
    • Strong desire to do something in life.
    • Technical knowledge/manufacturing experience.
    • Business experience in the same or related line.
  • 15. Factors external to entrepreneurs:
    • Financial assistance from institutional sources.
    • Machinery on hire/purchase.
    • Attitude of the Govt.
    • Encourage from big business.
    • Heavy Demand.
    • Profit Margin.
  • 16. Seven keys to motivation that may prove helpful
    • Inspiration:
    • Setting goals:
    • Networking:
    • Reward Yourself:
  • 17. Other Traits:
    • Self –confidence: Ability in themselves.
    • Long term involvement: Long term commitment to the projects
    • High Level Energy: Ability to work long
  • 18. Entrepreneurial Leadership:
    • Give positive feedback for good job.
    • Initiate confidence in employees.
    • Be fair and objective, not vindictive.
    • Practice what is preached,donot ask for something that employees are not willing to do.
  • 19. Entrepreneurial Leadership:
    • Down to earth, person to person approach.
    • Be compassionate and understanding.
    • Create an atmosphere of acceptance and trust.
    • Classification of priorities.
    • Be available for discussion.
    • Talk openly and give straight answers.
  • 20. Administrative competence:
    • The leader should understand his /her job.
    • Understand employees job.
    • Utilizing peoples skill effectively.
    • Be concerned with employees and work flow.
    • Get tough when necessary.
    • Provide proper human resource for all levels.
  • 21. Entrepreneurship
    • It’s the process of wealth creation not wealth accumulation.
    • Pure entrepreneurs depend upon innovation
    • to set up new ventures.
    • Follow up on promises.
  • 22. Introduction to Creativity EMPOWER ? CREATIVITY
  • 23. Convergent vs. Divergent Thinking EMPOWER ? 1 2 types of Thinking Convergent Thinking Divergent Thinking
  • 24. Convergent Thinking ? 1 2x- 148 = 0, so x is = ? City 500 km south-west of Ahmedabad Founder of IIPM Captain of Indian Cricket Team Shahrukh’s Last Movie Released
  • 25. What would happen if animals would be crossed with plants? What poem could be written with the title Future of the Past? How many uses are there of a teaspoon? What would have happened if Vasco da Gama had not discovered the sea route to India? Divergent Thinking 1
  • 26. Divergent or Convergent ? Which one more important? ? 1
  • 27. Entrepreneurship and Creativity:
    • The person:
    • Task:
    • Organizational Context:
    • Environment:
  • 28. Creativity
    • Ability to work hard and long.
    • It gets developed in individual.
    • Ability to bring some things new into existence.
    • A new thing that can be useful for the society.
  • 29. Creativity
    • Discovery of something that is novel, but also useful, or relevant, or economical or elegant or valuable .
  • 30. Innovation :Engine of growth
    • Innovation=Conception +Tech invention+commercial exploration.
  • 31. Innovation
    • Process of doing new things.
    • Innovation transforms creative ideas into applications.
    • Creativity is prerequisite to innovation.
  • 32. Importance of Innovation:
    • Aerospace: Boeing.
    • Motor cars: Mercedes,BMW.
    • Computer : IBM,Microsoft.
  • 33. Innovation:
    • Steam Engine:?
    • Electric Bulb : ?
    • Electromagnetic Dynamo : ?
  • 34. Types of Innovation:
    • Product Innovation:
    • Process Innovation:
    • Organizational Innovation:
    • Management Innovation:
    • Production Innovation:
    • Marketing Innovation:
    • Service Innovation:
  • 35. Characteristics of Creative People:
    • Conceptual Fluency-Openness.
    • Originality.
    • Less Authoritarian-Independent.
    • Committed and Highly focused.
  • 36. Types of Entrepreneurs:
    • Spontaneous Entrepreneurs (pure entrepreneurs):
    • Motivated by their desire.
    • Natural ,and no external motivation required.
    • Strength in creative abilities.
  • 37. Types of Entrepreneurs:
    • Motivated Entrepreneurs:
    • Motivated by their desire to make use of tech/professional expertise.
    • They possess-confidence,initiative ,boldness.
    • Provides new products/service to consumers.
  • 38. Types of Entrepreneurs:
    • Innovative business ventures.
  • 39. Types of Entrepreneurs:
    • Induced Entrepreneurs:
    • Induced by policy of government.
  • 40. Some study details:
    • Managing entrepreneurs :chief motive is security.
    • Innovative entrepreneurs: primarily looks for excitement.
    • Controlling entrepreneurs who become entrepreneurs to fulfill their desire for power.
    • The Opportunistic type, who was
    • driven by expectations of financial gain,
  • 41. Some study details:
    • The “Push” type, driven by “push”
    • reasons for starting a business,
  • 42. Basically four strategies:
    • Customer partnership strategy :concentrating on few large customers.
    • Niche strategy : with highly focused product and market scope.
    • Cost leader: with high emphasis on cost control.
    • Investment promotion strategy :which invest heavily in promotion and brand building,
    • as well as product development.
  • 43. Entrepreneurial Attitude:
    • Tendency to take moderate risk:
    • An eye for economic opportunity:
    • Imaginative:
    • Initiative:
    • Believe,to change environment:
    • Enjoy freedom of expression
  • 44. Entrepreneurial Attitude:
    • Analyzing situation and planning action.
    • Find satisfaction from successful completion of task:
  • 45. Innovation, Entrepreneurship & Intrapreneurship
  • 46. Corporate Entrepreneurship
    • Concerned with innovation that leads to new corporate divisions or subsidiary ventures.
  • 47. Entrepreneural Businesses
    • Family businesses
    • Franchises
    • Home based businesses
  • 48. Commitment to Excellence
    • Understand the customer.
    • Provide quality products and services.
    • Knowledge and expertise, esp. business.
    • Details.
    • Continuous learning.
    • Commit time and effort.

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