Entrepreneurship and Small Business

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What is Small Business?
What is Entrepreneurship?
Why Entrepreneurship?
Are you up to the challenge?

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Entrepreneurship and Small Business

  1. 1. Entrepreneurship and Small Business Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  2. 2. What is a Small Business? Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  3. 3. Small number of people Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  4. 4. Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  5. 5. Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  6. 6. Small financial resources Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  7. 7. Small number of products Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  8. 8. Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  9. 9. Small size of facilities Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  10. 10. Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  11. 11. Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  12. 12. What is a Business? Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  13. 13. Sell and buy product for the sake of profit! Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  14. 14. Selling and buying does not have to be only for money! Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  15. 15. Product may include tangible or intangible products, e.g. a car vs. SW support Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  16. 16. Profit does not have to be always financial profit, e.g. number of people having healthy food Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  17. 17. Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  18. 18. Seven Rules for Building a Successful Business Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  19. 19. Recognize an opportunity Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  20. 20. Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  21. 21. Evaluate it with critical thinking (SWOT) Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  22. 22. Build a team Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  23. 23. Write a realistic business plan Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  24. 24. Gather resources Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  25. 25. Decide ownership Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  26. 26. Create wealth Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  27. 27. What is Entrepreneurship? Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  28. 28. An employee works for someone in return for a benefit, usually money Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  29. 29. An entrepreneur works for himself/herself with or without partners and/or employees Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  30. 30. An entrepreneur adds value to scarce resources to generate profit Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  31. 31. Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  32. 32. Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  33. 33. An entrepreneur have control over what, when, how, where, with whom, and for whom #WikiCourses the Entrepreneurship and Small Business Mohammad Tawfik http://WikiCourses.WikiSpaces.com product is produced!
  34. 34. “An entrepreneur is someone who would work 16 hours per day in order not to work 8 hours per day for someone else!” Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  35. 35. Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  36. 36. Remember that there is not free lunch! Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  37. 37. An entrepreneurial business may be: For profit Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  38. 38. An entrepreneurial business may be: Not-for profit Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  39. 39. An entrepreneurial business may be: Social entrepreneurship! Tom’s shoes Gramin bank Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  40. 40. Schumpeter’s Sources of Opportunity Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  41. 41. Use a new technology to produce a new product. Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  42. 42. Use an existing technology to produce a new product. Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  43. 43. Use an existing technology to produce an old product in a new way. Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  44. 44. Find a new source of resources to produce more efficiently. Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  45. 45. Develop a new market for an existing product. Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  46. 46. Assignment! ● Identify a local business near you ● Name it ● Locate it on the map (Google maps) ● Describe its product ● Identify its suppliers ● Identify its customers ● Identify the level and type of technologies used ● Create a mind-map for the business describing all of the above! Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com
  47. 47. References ● ● Entrepreneurship and Small Business Management, 1/e, Steve Mariotti and Caroline Glackin, 2012, Pearson Education Effective Small Business Management, 10/e, Norman M. Scarborough, Prentice Hall, 2011 Entrepreneurship and Small Business Mohammad Tawfik #WikiCourses http://WikiCourses.WikiSpaces.com

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