ENTREPREURSHIP

1. Entrepreneurship
Lecturer:
Pavithra Subashini
Head/Senior Lecturer
Department of Computer Science and Software Engineering

2. • Self Introduction
• Class disciplines
• Attendance
• No Cell phones/Laptops during lecture
• Use laptops/smart devices during assignments
Know your batch

3. Module set up

4. Expect more practical work from you
Independent
learning expectation
is 6 hours/week.

5. • An Exam weighted at 60% and Coursework
weighted at 40%.
How you will be assessed?
Assignment Type Allocated marks
Exam 60%
Course work –
Group Assignments
Individual assignments
40%

6. Introduction to
Entrepreneurship
Reference:
Bruce R. Barringer,R. Duane Ireland, Copyright ©2012 Pearson
Education, Inc. publishing as Prentice Hall
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7. 7

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9. 9
An Exploration
for Entrepreneurship
Part 1: Turning your passion into a career
Part 2: Making a living from your passion

10. Indications of Increased Interest
in Entrepreneurship
• Books
– Amazon.com lists over 35,600 books dealing with
entrepreneurship and 62,700 focused on small business.
• College Courses
– In 1985, there were about 250 entrepreneurship courses
offered across all colleges in the United States.
– Today, more than 2,000 colleges and universities in the
United States (which is about two-thirds of the total) offer at
least one course in entrepreneurship.
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11. What is Entrepreneur?
• Is one who creates a new business in the face of risk and
uncertainty for the purpose of achieving profit and growth by
identifying opportunities and assembling the necessary
resources to capitalize on those opportunities
• Entrepreneurs usually starts with nothing more than an idea –
often a simple one - then organize the resources necessary to
transform that idea into a sustainable business.
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12. What is Entrepreneur?
• An entrepreneur is “someone who takes
nothing for granted, assumes change is
possible, and follows through; someone
incapable of confronting reality without
thinking about ways to improve it; and for
whom action is a natural consequence of
thought”
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13. Why Become an Entrepreneur?
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The three primary reasons that people become
entrepreneurs and start their own firms
Desire to be their own boss
Financial rewards
Desire to pursue their
own ideas

14. Characteristics of Successful Entrepreneurs
1 of 3
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Four Primary Characteristics

15. Entrepreneur Profile/ Personality
1) Desire and willingness to take initiative
• Entrepreneurs feel a personal responsibility for
the outcome of ventures they start
• They are willing to step forward and build
businesses based on their creative ideas
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16. Entrepreneur Profile/ Personality
2) Preference for moderate risk
• Entrepreneurs are not wild risk takers, but
instead calculating risk takers
• The goal may appear to be high from others’
perspective, but entrepreneurs typically have
thought through the situation and believe that
their goals are reasonable and attainable
• One way to reduce risk is to create a sound
business plan (which will be discussed later)
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17. Entrepreneur Profile/ Personality
3) Confidence in their ability to succeed
• Entrepreneurs typically have an abundance of
confidence in their ability to succeed
• They tend to be optimistic about their chances
for business success
• Entrepreneurs face many barriers when
starting and running their companies and
therefore a healthy dose of optimism can be an
important component in their ultimate success
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18. Entrepreneur Profile/ Personality
4)Perseverance
• Even when things don’t work out as planned,
entrepreneurs don’t give up
• They simply keep trying
• Real entrepreneurs follow the advice contained
in he Japanese proverb “Fall seven times;
stand up eight”
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19. Entrepreneur Profile/ Personality
5) Desire for immediate feedback
• Entrepreneurs like to know how they are doing
and are constantly looking for enforcement
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20. Entrepreneur Profile/ Personality
6)High level of energy
• Entrepreneurs are more energetic than the
average person
• The energy may be critical factor given the
incredible effort required to launch a start-up
company
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21. Entrepreneur Profile/ Personality
7)Competitiveness
• Entrepreneurs tend to exhibit competitive
behavior
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22. Entrepreneur Profile/ Personality
8)Skill at organizing
• Entrepreneurs know how to put the right
people and resources together to accomplish a
task
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23. Entrepreneur Profile/ Personality
9)High degree of commitment
• Launching a company successfully requires
total commitment from the entrepreneur
• Entrepreneurs’ commitment to their ideas and
to the business determines how successful
their companies ultimately become
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24. Entrepreneur Profile/ Personality
10)Tolerance for ambiguity
• Entrepreneurs tend to have a high tolerance for
ambiguity, ever changing situation and
environment in which they often operate
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25. Entrepreneur Profile/ Personality
11)Flexibility
• Important for an entrepreneur is their ability to
adapt to the changing demands of their
customers and their businesses
• As our society, its people and their taste
change, entrepreneurs also must be willing to
adapt their businesses to meet those changes
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26. Characteristics of Successful Entrepreneurs
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• Passion for the Business
– The number one characteristic shared by successful
entrepreneurs is a passion for the business.
– This passion typically stems from the entrepreneur’s belief
that the business will positively influence people’s lives.
• Product/Customer Focus
– A second defining characteristic of successful
entrepreneurs is a product/customer focus.
– An entrepreneur’s keen focus on products and customers
typically stems from the fact that most entrepreneurs are, at
heart, craftspeople.
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27. Characteristics of Successful Entrepreneurs
3 of 3
• Tenacity Despite Failure
– Because entrepreneurs are typically trying something new,
the failure rate is naturally high.
– A defining characteristic for successful entrepreneurs is
their ability to persevere through setbacks and failures.
• Execution Intelligence
– The ability to fashion a solid business idea into a viable
business is a key characteristic of successful entrepreneurs.
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28. Common Myths About Entrepreneurs
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• Myth 1: Entrepreneurs Are Born, Not Made
– This myth is based on the mistaken belief that some people
are genetically predisposed to be entrepreneurs.
– The consensus of many studies is that no one is “born” to
be an entrepreneur; everyone has the potential to become
one.
– Whether someone does or doesn’t become an entrepreneur
is a function of their environment, life experiences, and
personal choices.
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29. Common Myths About Entrepreneurs
2 of 5
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Although no one is “born” to be an entrepreneur, there are common traits and
characteristics of successful entrepreneurs
• A moderate risk taker
• A networker
• Achievement motivated
• Alert to opportunities
• Creative
• Decisive
• Energetic
• Has a strong work ethic
• Lengthy attention span
• Optimistic disposition
• Persuasive
• Promoter
• Resource assembler/leverager
• Self-confident
• Self-starter
• Tenacious
• Tolerant of ambiguity
• Visionary

30. Common Myths About Entrepreneurs
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• Myth 2: Entrepreneurs Are Gamblers
– Most entrepreneurs are moderate risk takers.
– The idea that entrepreneurs are gamblers originates from
two sources:
• Entrepreneurs typically have jobs that are less structured, and so
they face a more uncertain set of possibilities than people in
traditional jobs.
• Many entrepreneurs have a strong need to achieve and set
challenging goals, a behavior that is often equated with risk taking.
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31. Common Myths About Entrepreneurs
4 of 5
• Myth 3: Entrepreneurs Are Motivated Primarily by
Money
– While it is naïve to think that entrepreneurs don’t seek
financial rewards, money is rarely the reason entrepreneurs
start new firms.
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32. Common Myths About Entrepreneurs
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• Myth 4: Entrepreneurs Should Be Young and
Energetic
– Entrepreneurial activity is fairly easily spread out over age
ranges.
– While it is important to be energetic, investors often cite
the strength of the entrepreneur as their most important
criteria in making investment decisions.
• What makes an entrepreneur “strong” in the eyes of an investor is
experience, maturity, a solid reputation, and a track record of
success.
• These criteria favor older rather than younger entrepreneurs.
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33. Evaluation: Assignment 1- 10 marks
• Pick an entrepreneur/CEO.
• Investigate his/her background to determine the factors that lead
to business success.
– The history and growth of the business they founded
– Skills, special abilities, and interests that helped to make
him/her a successful entrepreneur.
– Personal traits that made him/her so successful
• Prepare PPT and Present findings on 25th June.
• Time for the presentation :10 minutes
• This assignment is an individual work and it contributes 10% to
the total coursework marks.
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34. Evaluation: Assignment 2 – 20 marks
You are required to choose a global company (eg: Apple, coco-
cola) and study the company in depth:
1. Explain the journey of the company.
2. Explain the challenges they faced and how they mitigate
them.
3. Study their business strategies and unique value proposition.
3. Prepare PPT and report.
4. Presentation will schedule on 16th July.
5. This assignment is a group work (4-7 members per team) and
it contributes 20% to the total coursework marks.
– Submission deadline : 16th July.
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35. Evaluation 3: In class test
Mid term in class test – 10 marks
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