Fostering The Culture of
Entrepreneurship and Innovation
• Starting a business can be intimidating and challenging
but also very rewarding both financially and personally.
• Being an entrepreneur is distinct from being a business
• Entrepreneurs are generally seen as being innovators
and leaders as opposed to business people who work
with existing ideas.
• This has the potential to change the competition
structure. You might find as an entrepreneur that your
biggest competition is yourself and you will need to be
able to motivate yourself from this position.
• Entrepreneurs are revolutionary and perhaps
take greater risks than a business person would.
• They create value, not simply profit, so their
approach to various challenges will be different.
• The assets you value (employees and customers)
will be distinct from those of a business person
(real estate and inventory).
• There will be challenges, but there are effective
ways for dealing with them.
Theory of Entrepreneurship
• Schumpeter: Entrepreneurship is creative
destruction i.e. destroying the existing order by
introducing a new and better order; continuous
value addition; continuous creation of
• To innovate is to begin or introduce (something
new) for or as if for the first time.
• Innovation becomes the effort to create
purposeful, focused change in an organization’s
economic or social potential
Scope of Marketing
How does your
customer and market
information as a means
of understanding their
current and future
The key factors that
lead to customer
and retention and to
Why is branding important?
• promotes recognition
• helps set you apart from the competition
• tells people about your business DNA
• provides motivation and direction for your staff
• strong brand generates referrals
• helps customers know what to expect
• represents you and your promise to your customer
• helps you create clarity and stay focused
• helps you connect with your customers emotionally
• A strong brand provides your business value
How Entrepreneurial are
What can you spot?
Entrepreneurship is about looking
at things differently; seeing what
others cannot see... If you keep
doing what you have always been
doing you will keep getting what
you have always gotten…
Characteristics of an
• Self-confident and optimistic
• Able to take calculated risk
• Responds positively to challenges
• Flexible and able to adapt
• Knowledgeable of markets
• Able to get along well with others
• Independent minded
• Versatile knowledge
• Energetic and diligent
• Creative, need to achieve
• Dynamic leader
• Responsive to suggestions
• Takes initiatives
• Resourceful and persevering
• Perceptive with foresight
• Responsive to criticism
Creating a Business Model: the role
• envisions the future of the organization:
• articulates a compelling vision;
• generates consensus on the strategic
objectives of the organization;
• facilitates the design or change of the
• put in place strategies for managing