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Entrepreneurship and
Business Management
2
What is
Entrepreneurship?
Capability to own and coordinate
Total capacity to take challenges
Desire and ability to innovate and
broaden
(Stepanek, 1962)
3
Who is an entrepreneur?
Individual completing own business
(Webster)
Particular person who sets up
organization deals in order to make
profits (Collins Cobuild)
Organizer of an economical venture,
one who owns, organizes, manages,
and assumes the challenges of the
business (Chandrashekhar)
4
Why entrepreneurship?
Procedure of making something unique,
with value, by devoting necessary time
and hard work, by assuming the
enclosed financial, psychological, and
social challenges, and obtaining the
ensuing rewards of monetary and
personal total satisfaction (Bowen and
Hisrich, 1986).
5
Role of the Entrepreneur
An founder who contains technological
developments and financial finesses.
Important part in creating aggressive
products, procedures, and services.
Generation of new employment
Local and regional financial development
Improved allowance of sources and exchange
of technologies
6
Entrepreneur as an
Economic Pioneer
Introduction of new products and goods
Introduction of new procedures and
techniques of production
Opening up of new marketplaces
Opening up of new resources of supply
Industrial re-organization
7
Strategic Importance of
the Small-Scale Sector
Significant efforts to national income,
employment, and trade earnings
Value of output over Rs. 5,70,000 crores
Occupation of over 17.5 million (> twice the
private sector; almost as much as all open
public sector employment)
Exports of over Rs. 54,000 crores (> 35 per
cent of all exports) (2000-01 figures)
8
Entrepreneurship and
Small Businesses
Business is especially crucial in little
companies because:
Important types of competitors for large firms;
task their financial power
Offer a number of choice to consumers
Sources of advancement and creativity
Good profession possibilities to work in an
unstructured atmosphere of a little company
9
Marketing Management
Demand variables:
Market, public, financial, governmental,
and competitive aspects in market
environment
Psychological, public, and financial
styles in customer motivations
All independent factors
10
Marketing Management
Semi-demand variables:
Market segmentation
Customer behavior
Only partly under the management
over the business owner
11
Marketing Management
Decision Variables:
Item features and pricing
Distribution and individual selling
Advertising guidelines
Mostly under the management of the
entrepreneur
12
Marketing Management
The essential business operate in
promotion control is to design an
incorporated promotion plan, where the
requirement and semi-demand factors
of the market are based on the product
and choice factors of the company.
13
Market Research
Promotion achievements relies on style of a
particular marketing plan
A small business owner should not try to
contend on a product-to-product foundation
with huge companies (same products to
same clients thru same programs at same
costs !!)
Instead, try to do “something different”.
14
Operations Management
Procedure for developing and using the
actual physical sources of the company
to improve the functional abilities of the
company
Product/ service design
Process design
Job style
Job standards
15
Operations Management
The entrepreneur’s more compact
company usually has to provide
specific, few-of-a-kind products and
customized services, without the
benefits of huge manufacturing and
huge distribution
16
Financial Management
1. Effective make use of the assets-
current(short-term) and investment (long-
term)
2. Supply of resources to back up those
assets
3. Use of present obligations, advanced
loans, and investment debt or equity
4. Difficult for more compact companies to
contend, in finance, with bigger companies,
simply because they absence money.
17
Financial Management
Financial situation needed for:
1. New investment strategies in product
development
2. Growth and development of markets
3. Process developments, etc.
4. Conserve money handy by planning
specific financial programs, e.g. cash costs,
investment investment research, short-term
plans
18
Financial Management
Finding additional funds from sources as
1. Current liabilities
2. Bank loans
3. Value investments
4. Maintained earnings
5. Investment investment proposals
6. Angel financing proposals
19
Organizational
Management and
Control
More compact organizations go thru
recognizable levels of growth
Increased areas of expertise in projects
of staff
Increased delegation on aspect of
founder
Increased systematization and
formalization of details confirming and
bookkeeping procedures
20
Formation and Growth
Purchase of a small company-
recognize, screen, assess, settle, and
framework payments
Consolidation of a new company-
extreme preservation of cash, company
restrictions on costs, constant study of
company’s technique.
21
Conclusions
Business is an overwhelming and fulfilling
profession
Need to focus on market research, money,
and technology management
Cannot contend straight with the “big guys”,
so need to be impressive and impressive in
all business functions

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Gabrielle rusignuolo | Entrepreneurship and Business Management

  • 2. 2 What is Entrepreneurship? Capability to own and coordinate Total capacity to take challenges Desire and ability to innovate and broaden (Stepanek, 1962)
  • 3. 3 Who is an entrepreneur? Individual completing own business (Webster) Particular person who sets up organization deals in order to make profits (Collins Cobuild) Organizer of an economical venture, one who owns, organizes, manages, and assumes the challenges of the business (Chandrashekhar)
  • 4. 4 Why entrepreneurship? Procedure of making something unique, with value, by devoting necessary time and hard work, by assuming the enclosed financial, psychological, and social challenges, and obtaining the ensuing rewards of monetary and personal total satisfaction (Bowen and Hisrich, 1986).
  • 5. 5 Role of the Entrepreneur An founder who contains technological developments and financial finesses. Important part in creating aggressive products, procedures, and services. Generation of new employment Local and regional financial development Improved allowance of sources and exchange of technologies
  • 6. 6 Entrepreneur as an Economic Pioneer Introduction of new products and goods Introduction of new procedures and techniques of production Opening up of new marketplaces Opening up of new resources of supply Industrial re-organization
  • 7. 7 Strategic Importance of the Small-Scale Sector Significant efforts to national income, employment, and trade earnings Value of output over Rs. 5,70,000 crores Occupation of over 17.5 million (> twice the private sector; almost as much as all open public sector employment) Exports of over Rs. 54,000 crores (> 35 per cent of all exports) (2000-01 figures)
  • 8. 8 Entrepreneurship and Small Businesses Business is especially crucial in little companies because: Important types of competitors for large firms; task their financial power Offer a number of choice to consumers Sources of advancement and creativity Good profession possibilities to work in an unstructured atmosphere of a little company
  • 9. 9 Marketing Management Demand variables: Market, public, financial, governmental, and competitive aspects in market environment Psychological, public, and financial styles in customer motivations All independent factors
  • 10. 10 Marketing Management Semi-demand variables: Market segmentation Customer behavior Only partly under the management over the business owner
  • 11. 11 Marketing Management Decision Variables: Item features and pricing Distribution and individual selling Advertising guidelines Mostly under the management of the entrepreneur
  • 12. 12 Marketing Management The essential business operate in promotion control is to design an incorporated promotion plan, where the requirement and semi-demand factors of the market are based on the product and choice factors of the company.
  • 13. 13 Market Research Promotion achievements relies on style of a particular marketing plan A small business owner should not try to contend on a product-to-product foundation with huge companies (same products to same clients thru same programs at same costs !!) Instead, try to do “something different”.
  • 14. 14 Operations Management Procedure for developing and using the actual physical sources of the company to improve the functional abilities of the company Product/ service design Process design Job style Job standards
  • 15. 15 Operations Management The entrepreneur’s more compact company usually has to provide specific, few-of-a-kind products and customized services, without the benefits of huge manufacturing and huge distribution
  • 16. 16 Financial Management 1. Effective make use of the assets- current(short-term) and investment (long- term) 2. Supply of resources to back up those assets 3. Use of present obligations, advanced loans, and investment debt or equity 4. Difficult for more compact companies to contend, in finance, with bigger companies, simply because they absence money.
  • 17. 17 Financial Management Financial situation needed for: 1. New investment strategies in product development 2. Growth and development of markets 3. Process developments, etc. 4. Conserve money handy by planning specific financial programs, e.g. cash costs, investment investment research, short-term plans
  • 18. 18 Financial Management Finding additional funds from sources as 1. Current liabilities 2. Bank loans 3. Value investments 4. Maintained earnings 5. Investment investment proposals 6. Angel financing proposals
  • 19. 19 Organizational Management and Control More compact organizations go thru recognizable levels of growth Increased areas of expertise in projects of staff Increased delegation on aspect of founder Increased systematization and formalization of details confirming and bookkeeping procedures
  • 20. 20 Formation and Growth Purchase of a small company- recognize, screen, assess, settle, and framework payments Consolidation of a new company- extreme preservation of cash, company restrictions on costs, constant study of company’s technique.
  • 21. 21 Conclusions Business is an overwhelming and fulfilling profession Need to focus on market research, money, and technology management Cannot contend straight with the “big guys”, so need to be impressive and impressive in all business functions