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Entrepreneurship and business management


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Entrepreneurship and business management

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  2. 2. When you cease to dream you cease to live
  3. 3. Risk-taking individuals who take actions to pursue opportunities and situations others may fail to recognize or may view as problems or threats. Strategic thinking and risk-taking behaviour that results in the creation of new opportunities for individuals &/or organizations.
  4. 4.  Proactive  Innovative  Risk taking  Take a more “wait and see”  posture  Less innovative  Risk averse
  5. 5. Being your Own Boss • Self-management is the motivation that drives many entrepreneurs. Financial Success • Entrepreneurs are wealth creators. Job Security • Over the past ten years, large companies have eliminated more jobs than they have created. Quality of Life • Starting a business gives the founder some choice over when, where, and how to work. New Ideas • Desire to pursue their
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  7. 7. . 11
  8. 8.  Optimistic disposition  Persuasive  Promoter  Resource assembler/leverager  Self-confident  Self-starter  Tenacious  Tolerant of ambiguity  Visionary  A moderate risk taker  A networker  Achievement motivated  Alert to opportunities  Creative  Decisive  Energetic  Has a strong work ethic  Lengthy attention span 12
  9. 9. 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. 13
  10. 10. 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 behaviour that is often equated with risk taking. 14
  11. 11. While it is naïve to think that entrepreneurs don’t seek financial rewards, money is rarely the reason entrepreneurs start new firms. In fact, some entrepreneurs warn that the pursuit of money can be distracting. . 15
  12. 12.  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 favour older rather than younger entrepreneurs 16
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  14. 14.  Birth stage  Breakthrough stage  Maturity stage . 18
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  16. 16.  Executive summary  Industry analysis  Company description  Product and services description  Market description  Marketing strategy  Operations description  Staffing description  Financial projection  Capital needs  Milestones 20
  17. 17.  Sole proprietorship General partnership Limited partnership Limited liability partnership Limited liability corporation (LLC) . 21
  18. 18. business owned by an individual association of two or more persons acting as co-owners of a business legal entity separate from the individuals who own it 22
  19. 19. Prof Parameshwar P Iyer Indian Institute of Science 23
  20. 20. Debt financing Equity financing Venture capitalists Initial public offerings Angel investors 24
  21. 21.  obtaining a commercial loan setting up a plan to repay the principal and interest  raising money by selling part ownership of the business to investors 25
  22. 22. ,