1. Entrepreneurship involves identifying opportunities, innovating, taking risks, and organizing resources. The key elements of successful entrepreneurs are having a vision, innovating, bearing risks, and organizing.
2. An entrepreneur establishes a business to make profits, while also providing capital. Entrepreneurship is undertaking risks and economic uncertainty to create value and wealth.
3. Setting up a small business requires finding a suitable idea, developing a product line and range, and taking steps like searching for ideas, processing the idea, and selecting the best idea.
The document discusses the key aspects of entrepreneurship including defining entrepreneurs as individuals who take on risks to start businesses. It outlines personal characteristics like persistence and skills needed for successful entrepreneurs such as communication. The 5 steps of the entrepreneurial process are discovery, concept development, resourcing, actualization, and harvesting. Business plans are detailed proposals that describe new businesses and are used to obtain financing. They include components like executive summaries, product/service descriptions, and financial plans.
To define a sustainable business plan and demonstrate its value
To describe the benefits of a business plan
To set forth the viewpoints of those who read a business plan
To understand the mind-set of your five-minute reader
To see a complete outline of an effective business plan
To present some helpful hints for writing an effective business plan
To highlight points to remember in the presentation of a business plan
To underline some of the contrarian viewpoints on the importance of a business plan
To introduce strategic design for an entrepreneurial venture
To discuss some of the reasons why entrepreneurs do not carry out strategic planning
To outline entrepreneurial strategy and some benefits of strategic planning
To examine the transition from an entrepreneurial style to a managerial approach
To discuss the five stages of a typical venture life cycle
To identify key management issues occurring during the growth stages
To introduce the steps useful for breaking through the growth wall
To identify the unique managerial concerns with a growth business
To elaborate the concept of entrepreneurial leadership
To outline ways to incorporate sustainability into business strategy
Introduction to Entrepreneurship and management bussiness.pptAvik Paul
This document provides an overview of entrepreneurship and the entrepreneurial process. It defines an entrepreneur as an individual who takes on the risk of starting, owning, and operating a business. The entrepreneurial process involves 5 steps - discovery of an opportunity, developing the business concept, acquiring resources, operating the business, and deciding on the business's future. Key components of starting a business include developing a business plan, acquiring financing, and meeting legal requirements. A successful entrepreneur displays personal characteristics such as persistence, creativity, and risk-taking. They also possess skills in areas like communication, problem-solving, and basic business.
Introduction to Entrepreneurship and BusinessGuru K
This document provides an overview of entrepreneurship and the entrepreneurial process. It defines an entrepreneur as an individual who takes on the risk of starting, owning, and operating a business. The entrepreneurial process involves 5 steps - discovery of an opportunity, developing the business concept, acquiring resources, operating the business, and deciding on the business's future. Key components of starting a business include developing a business plan, acquiring financing, and meeting legal requirements. A successful entrepreneur displays personal characteristics such as persistence, creativity, and risk-taking. They also possess skills in areas like communication, problem-solving, and basic business.
Introduction to Entrepreneurship business.pptssuser96096c
This document provides an overview of entrepreneurship and the entrepreneurial process. It defines an entrepreneur as an individual who takes on the risk of starting, owning, and operating a business. The entrepreneurial process involves 5 steps - discovery of an opportunity, developing the business concept, acquiring resources, operating the business, and deciding on the business's future. Key components of starting a business include developing a business plan, acquiring financing, and meeting legal requirements. A successful entrepreneur displays personal characteristics such as persistence, creativity, and risk-taking. They also possess skills in areas like communication, problem-solving, and basic business.
This document provides an overview of entrepreneurship and the entrepreneurial process. It defines an entrepreneur as an individual who takes on the risk of starting, owning, and operating a business. The entrepreneurial process involves 5 steps - discovery of an opportunity, developing the business concept, acquiring resources, operating the business, and deciding on the business's future. Key components of starting a business include developing a business plan, acquiring financing, and meeting legal requirements. A successful entrepreneur displays personal characteristics such as persistence, creativity, and risk-taking. They also possess skills in areas like communication, problem-solving, and basic business.
This document introduces entrepreneurial finance and new venture development. It discusses that entrepreneurship involves perceiving opportunities, developing strategies, implementing plans, and harvesting rewards. New ventures progress through stages of opportunity research, start-up, early growth, rapid growth, and exit. Financing needs evolve as ventures reach milestones marking their development. The business plan communicates a venture's strategic goals and assumptions to attract financing as it advances through stages of growth.
The document discusses the key aspects of entrepreneurship including defining entrepreneurs as individuals who take on risks to start businesses. It outlines personal characteristics like persistence and skills needed for successful entrepreneurs such as communication. The 5 steps of the entrepreneurial process are discovery, concept development, resourcing, actualization, and harvesting. Business plans are detailed proposals that describe new businesses and are used to obtain financing. They include components like executive summaries, product/service descriptions, and financial plans.
To define a sustainable business plan and demonstrate its value
To describe the benefits of a business plan
To set forth the viewpoints of those who read a business plan
To understand the mind-set of your five-minute reader
To see a complete outline of an effective business plan
To present some helpful hints for writing an effective business plan
To highlight points to remember in the presentation of a business plan
To underline some of the contrarian viewpoints on the importance of a business plan
To introduce strategic design for an entrepreneurial venture
To discuss some of the reasons why entrepreneurs do not carry out strategic planning
To outline entrepreneurial strategy and some benefits of strategic planning
To examine the transition from an entrepreneurial style to a managerial approach
To discuss the five stages of a typical venture life cycle
To identify key management issues occurring during the growth stages
To introduce the steps useful for breaking through the growth wall
To identify the unique managerial concerns with a growth business
To elaborate the concept of entrepreneurial leadership
To outline ways to incorporate sustainability into business strategy
Introduction to Entrepreneurship and management bussiness.pptAvik Paul
This document provides an overview of entrepreneurship and the entrepreneurial process. It defines an entrepreneur as an individual who takes on the risk of starting, owning, and operating a business. The entrepreneurial process involves 5 steps - discovery of an opportunity, developing the business concept, acquiring resources, operating the business, and deciding on the business's future. Key components of starting a business include developing a business plan, acquiring financing, and meeting legal requirements. A successful entrepreneur displays personal characteristics such as persistence, creativity, and risk-taking. They also possess skills in areas like communication, problem-solving, and basic business.
Introduction to Entrepreneurship and BusinessGuru K
This document provides an overview of entrepreneurship and the entrepreneurial process. It defines an entrepreneur as an individual who takes on the risk of starting, owning, and operating a business. The entrepreneurial process involves 5 steps - discovery of an opportunity, developing the business concept, acquiring resources, operating the business, and deciding on the business's future. Key components of starting a business include developing a business plan, acquiring financing, and meeting legal requirements. A successful entrepreneur displays personal characteristics such as persistence, creativity, and risk-taking. They also possess skills in areas like communication, problem-solving, and basic business.
Introduction to Entrepreneurship business.pptssuser96096c
This document provides an overview of entrepreneurship and the entrepreneurial process. It defines an entrepreneur as an individual who takes on the risk of starting, owning, and operating a business. The entrepreneurial process involves 5 steps - discovery of an opportunity, developing the business concept, acquiring resources, operating the business, and deciding on the business's future. Key components of starting a business include developing a business plan, acquiring financing, and meeting legal requirements. A successful entrepreneur displays personal characteristics such as persistence, creativity, and risk-taking. They also possess skills in areas like communication, problem-solving, and basic business.
This document provides an overview of entrepreneurship and the entrepreneurial process. It defines an entrepreneur as an individual who takes on the risk of starting, owning, and operating a business. The entrepreneurial process involves 5 steps - discovery of an opportunity, developing the business concept, acquiring resources, operating the business, and deciding on the business's future. Key components of starting a business include developing a business plan, acquiring financing, and meeting legal requirements. A successful entrepreneur displays personal characteristics such as persistence, creativity, and risk-taking. They also possess skills in areas like communication, problem-solving, and basic business.
This document introduces entrepreneurial finance and new venture development. It discusses that entrepreneurship involves perceiving opportunities, developing strategies, implementing plans, and harvesting rewards. New ventures progress through stages of opportunity research, start-up, early growth, rapid growth, and exit. Financing needs evolve as ventures reach milestones marking their development. The business plan communicates a venture's strategic goals and assumptions to attract financing as it advances through stages of growth.
Discover how entrepreneurship is changing in the recent times and the fundamentals of starting your own venture from the scratch. Your Financing options, making your business plan , preparing your pitch deck and other challenges and mistakes to be avoided as you take the course of entrepreneurship.
The document discusses entrepreneurship, defining key terms like income generation, self-employment, and entrepreneurship. It identifies the four factors of enterprise as land, labor, capital, and entrepreneur. Entrepreneurship is described as taking risks to start a productive venture seeking profit. Internal driving forces within a business and external forces outside its control are discussed. The document also covers classifications of entrepreneurship, barriers to entrepreneurship, and the difference between entrepreneurs and managers.
This document defines entrepreneurship and discusses its types and importance. Entrepreneurship is starting a business to make a profit by combining resources. There are small businesses, scalable startups, large companies, and social entrepreneurship. Key characteristics of entrepreneurs are taking risks, innovation, vision, leadership, and knowing their product. The importance of entrepreneurship includes job creation, innovation, economic and social development, and improved standards of living. It also supports research and development. In conclusion, entrepreneurship recognizes change and pursues opportunities through innovation and better use of resources.
The document provides an overview of key components of a business plan, including:
1) A business plan is a written document that describes all relevant internal and external elements of a new business venture, along with strategies for the first three years of operation.
2) An effective business plan considers the perspectives of the entrepreneur, potential investors, and marketing when determining its scope and level of detail.
3) A well-written business plan helps determine a venture's viability, guides planning activities, and serves as an important tool for obtaining financing. Developing a business plan provides entrepreneurs a process of self-assessment.
The document discusses the key steps and considerations for starting a new business, including developing a business plan, acquiring necessary finances, and meeting legal requirements. A business plan outlines the business concept, products/services, management team, industry analysis, operations, marketing strategy, and financial projections. Entrepreneurs must also identify sources of funding such as investors, loans, and grants. Additional legal requirements vary by business and may include permits, licenses, contracts, taxes, trademarks, patents, and copyrights.
Approaches for Commercialization of Post Harvest TechnologiesRamabhau Patil
This document discusses approaches for commercialization of post-harvest technologies. It outlines that most rural agribusinesses are small and independently operated. It describes the uniqueness of post-harvest technologies, including low risk, constant demand, and high sanitary standards. The document also discusses entrepreneurship, characteristics of successful entrepreneurs including drive, self-confidence, and risk-taking. It provides advice on project selection, market surveys, small business management, reasons why agribusinesses fail, words of advice, and sources of assistance.
This document provides an overview of entrepreneurship and entrepreneurs. It defines entrepreneurship and discusses the objectives, characteristics, functions, and types of entrepreneurs. Specifically:
- Entrepreneurship is taking risks to organize and manage a business to make a profit by exploiting opportunities. Entrepreneurs innovate, identify opportunities, and create economic value.
- The objectives are to disseminate knowledge on entrepreneurship, differentiate entrepreneurial activities and functions, and understand the role and barriers of entrepreneurship in India.
- Key characteristics of entrepreneurs include being goal-oriented, risk-taking, creative, hard-working, and self-confident. Primary functions are planning, organizing, decision-making,
This document discusses the key factors to consider before starting a small-scale industry. It outlines that small industries provide employment, have shorter gestation periods and lower investment needs. The document then covers identifying business opportunities through market research and evaluating alternatives. Key factors for feasibility like market, financial, technical and social aspects are examined. The final sections provide details on location selection, obtaining necessary clearances, licenses and registrations to legally start a small business.
The document outlines the key elements of crafting a business plan and strategic plan for a small business, including an introduction defining what a business plan is, its benefits, and components. It then discusses each component in detail, such as the executive summary, description of products/services, marketing strategy, and financial projections. The document also covers developing a strategic plan, conducting competitor and environmental analyses, and establishing goals and performance controls. The overall purpose is to provide guidance to entrepreneurs on developing effective business and strategic plans.
The document provides an overview of what constitutes a startup business versus a small business. It explains that startups require significant funding to achieve high growth rates and add value through generating jobs and wealth. The key aspects of a startup that it outlines are the need for a team-driven approach, appetite for risk-taking, and focusing business plans for investors on the team and market opportunity rather than extensive details. It also summarizes how venture capital firms operate by collecting funds from investors to invest in startups.
This document provides an overview of entrepreneurial finance and new venture development. It discusses key concepts such as the stages of new venture development, common types of entrepreneurship, and the importance of tying financing to milestones. The business plan is presented as a tool for strategic planning, capital raising, and evaluating a venture's progress towards milestones. Overall, the document emphasizes that studying entrepreneurial finance can lead to better investment and financing decisions for new ventures.
Business Model and Plan - Management Coursessuser8e973a
This document provides an overview of key topics related to business models, business plans, and financial planning. It discusses the meaning and components of business models, how to design and analyze business models. It also discusses the meaning, scope, need and components of business plans, including financial, marketing, human resource and production plans. Finally, it discusses key aspects of financial planning for a business such as profit and loss statements, cash flow statements, and sales forecasts.
Everett wilkinson entrepreneurship and business managementEverett Wilkinson
This document discusses entrepreneurship and business management. It defines an entrepreneur as an individual who starts their own business and takes on risks to generate profits. Entrepreneurship plays an important economic role by introducing new products/services, opening new markets and resources. Small businesses are significant for national income, employment, and exports. The document outlines various business functions like marketing, operations, finance, and organizational management that entrepreneurs must effectively manage, especially with smaller businesses that lack resources of large companies. It concludes that entrepreneurship requires focusing on market research, financial planning, and using technology to differentiate from larger competitors.
Entrepreneurship and Small Business: Unit No. 1amitsethi21985
As per PTU BBA Syllabus, Unit No. 1: Understanding Ownership Structure: Definition of small scale, medium scale and large scale enterprises, role of small enterprises in economic development, policies governing SMEs, Steps in setting up a small unit, Sources of finance for SME’s,
The document provides an outline and guidance for writing a business plan. It explains that a business plan is a written document that describes all relevant internal and external elements of starting a new venture, including functional plans for marketing, finance, manufacturing, sales, and human resources. The outline includes sections for an executive summary, industry and market analysis, description of the venture and products/services, operational, marketing, organizational, financial, and risk plans. It stresses that the business plan should guide operations for the first year and be updated as conditions change to keep the venture on track for success.
The document discusses the various functions of an entrepreneur. It notes that key functions include innovation and creativity in introducing new production processes, exploring new markets, and identifying new management techniques. Entrepreneurs also take on risk by formulating long-term plans to deal with risks associated with their investments. They make important decisions regarding investments, procurement, pricing, and diversification. Additionally, entrepreneurs organize activities necessary for production, conceptualize new opportunities, transfer technology, utilize experience, and perform managerial roles like planning, organizing, leading, and controlling.
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
https://rb.gy/usj1a2
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Discover how entrepreneurship is changing in the recent times and the fundamentals of starting your own venture from the scratch. Your Financing options, making your business plan , preparing your pitch deck and other challenges and mistakes to be avoided as you take the course of entrepreneurship.
The document discusses entrepreneurship, defining key terms like income generation, self-employment, and entrepreneurship. It identifies the four factors of enterprise as land, labor, capital, and entrepreneur. Entrepreneurship is described as taking risks to start a productive venture seeking profit. Internal driving forces within a business and external forces outside its control are discussed. The document also covers classifications of entrepreneurship, barriers to entrepreneurship, and the difference between entrepreneurs and managers.
This document defines entrepreneurship and discusses its types and importance. Entrepreneurship is starting a business to make a profit by combining resources. There are small businesses, scalable startups, large companies, and social entrepreneurship. Key characteristics of entrepreneurs are taking risks, innovation, vision, leadership, and knowing their product. The importance of entrepreneurship includes job creation, innovation, economic and social development, and improved standards of living. It also supports research and development. In conclusion, entrepreneurship recognizes change and pursues opportunities through innovation and better use of resources.
The document provides an overview of key components of a business plan, including:
1) A business plan is a written document that describes all relevant internal and external elements of a new business venture, along with strategies for the first three years of operation.
2) An effective business plan considers the perspectives of the entrepreneur, potential investors, and marketing when determining its scope and level of detail.
3) A well-written business plan helps determine a venture's viability, guides planning activities, and serves as an important tool for obtaining financing. Developing a business plan provides entrepreneurs a process of self-assessment.
The document discusses the key steps and considerations for starting a new business, including developing a business plan, acquiring necessary finances, and meeting legal requirements. A business plan outlines the business concept, products/services, management team, industry analysis, operations, marketing strategy, and financial projections. Entrepreneurs must also identify sources of funding such as investors, loans, and grants. Additional legal requirements vary by business and may include permits, licenses, contracts, taxes, trademarks, patents, and copyrights.
Approaches for Commercialization of Post Harvest TechnologiesRamabhau Patil
This document discusses approaches for commercialization of post-harvest technologies. It outlines that most rural agribusinesses are small and independently operated. It describes the uniqueness of post-harvest technologies, including low risk, constant demand, and high sanitary standards. The document also discusses entrepreneurship, characteristics of successful entrepreneurs including drive, self-confidence, and risk-taking. It provides advice on project selection, market surveys, small business management, reasons why agribusinesses fail, words of advice, and sources of assistance.
This document provides an overview of entrepreneurship and entrepreneurs. It defines entrepreneurship and discusses the objectives, characteristics, functions, and types of entrepreneurs. Specifically:
- Entrepreneurship is taking risks to organize and manage a business to make a profit by exploiting opportunities. Entrepreneurs innovate, identify opportunities, and create economic value.
- The objectives are to disseminate knowledge on entrepreneurship, differentiate entrepreneurial activities and functions, and understand the role and barriers of entrepreneurship in India.
- Key characteristics of entrepreneurs include being goal-oriented, risk-taking, creative, hard-working, and self-confident. Primary functions are planning, organizing, decision-making,
This document discusses the key factors to consider before starting a small-scale industry. It outlines that small industries provide employment, have shorter gestation periods and lower investment needs. The document then covers identifying business opportunities through market research and evaluating alternatives. Key factors for feasibility like market, financial, technical and social aspects are examined. The final sections provide details on location selection, obtaining necessary clearances, licenses and registrations to legally start a small business.
The document outlines the key elements of crafting a business plan and strategic plan for a small business, including an introduction defining what a business plan is, its benefits, and components. It then discusses each component in detail, such as the executive summary, description of products/services, marketing strategy, and financial projections. The document also covers developing a strategic plan, conducting competitor and environmental analyses, and establishing goals and performance controls. The overall purpose is to provide guidance to entrepreneurs on developing effective business and strategic plans.
The document provides an overview of what constitutes a startup business versus a small business. It explains that startups require significant funding to achieve high growth rates and add value through generating jobs and wealth. The key aspects of a startup that it outlines are the need for a team-driven approach, appetite for risk-taking, and focusing business plans for investors on the team and market opportunity rather than extensive details. It also summarizes how venture capital firms operate by collecting funds from investors to invest in startups.
This document provides an overview of entrepreneurial finance and new venture development. It discusses key concepts such as the stages of new venture development, common types of entrepreneurship, and the importance of tying financing to milestones. The business plan is presented as a tool for strategic planning, capital raising, and evaluating a venture's progress towards milestones. Overall, the document emphasizes that studying entrepreneurial finance can lead to better investment and financing decisions for new ventures.
Business Model and Plan - Management Coursessuser8e973a
This document provides an overview of key topics related to business models, business plans, and financial planning. It discusses the meaning and components of business models, how to design and analyze business models. It also discusses the meaning, scope, need and components of business plans, including financial, marketing, human resource and production plans. Finally, it discusses key aspects of financial planning for a business such as profit and loss statements, cash flow statements, and sales forecasts.
Everett wilkinson entrepreneurship and business managementEverett Wilkinson
This document discusses entrepreneurship and business management. It defines an entrepreneur as an individual who starts their own business and takes on risks to generate profits. Entrepreneurship plays an important economic role by introducing new products/services, opening new markets and resources. Small businesses are significant for national income, employment, and exports. The document outlines various business functions like marketing, operations, finance, and organizational management that entrepreneurs must effectively manage, especially with smaller businesses that lack resources of large companies. It concludes that entrepreneurship requires focusing on market research, financial planning, and using technology to differentiate from larger competitors.
Entrepreneurship and Small Business: Unit No. 1amitsethi21985
As per PTU BBA Syllabus, Unit No. 1: Understanding Ownership Structure: Definition of small scale, medium scale and large scale enterprises, role of small enterprises in economic development, policies governing SMEs, Steps in setting up a small unit, Sources of finance for SME’s,
The document provides an outline and guidance for writing a business plan. It explains that a business plan is a written document that describes all relevant internal and external elements of starting a new venture, including functional plans for marketing, finance, manufacturing, sales, and human resources. The outline includes sections for an executive summary, industry and market analysis, description of the venture and products/services, operational, marketing, organizational, financial, and risk plans. It stresses that the business plan should guide operations for the first year and be updated as conditions change to keep the venture on track for success.
The document discusses the various functions of an entrepreneur. It notes that key functions include innovation and creativity in introducing new production processes, exploring new markets, and identifying new management techniques. Entrepreneurs also take on risk by formulating long-term plans to deal with risks associated with their investments. They make important decisions regarding investments, procurement, pricing, and diversification. Additionally, entrepreneurs organize activities necessary for production, conceptualize new opportunities, transfer technology, utilize experience, and perform managerial roles like planning, organizing, leading, and controlling.
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
https://rb.gy/usj1a2
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdfthesiliconleaders
In the recent edition, The 10 Most Influential Leaders Guiding Corporate Evolution, 2024, The Silicon Leaders magazine gladly features Dejan Štancer, President of the Global Chamber of Business Leaders (GCBL), along with other leaders.
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Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
Digital Marketing with a Focus on Sustainabilitysssourabhsharma
Digital Marketing best practices including influencer marketing, content creators, and omnichannel marketing for Sustainable Brands at the Sustainable Cosmetics Summit 2024 in New York
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
2. Entrepreneurship and free enterprises
Definition
• Entrepreneur/ship, just like management, has no single definition.
• An entrepreneur is a person who is action oriented, highly motivated, takes risks to achieve goals
• An entrepreneur is a person who establishes his own business with the intention of making profits
• An entrepreneur is a person who only provides capital without taking active part in the leading role
in an enterprise.
• An entrepreneur is a one who innovates, raise money, assemble input, choose managers and set the
organization growing.
SGS 2
4. To sum up in the light of the developments, there are four key elements of entrepreneurs.
These are:
1. Vision (identifying emerging opportunities)
2. Innovation (creating new business or new ways of doing something)
3. Risk bearing (taking risk and facing uncertainty)
4. Organizing (collection and coordination of the necessary resources)
SGS 4
5. Entrepreneur & Entrepreneurship
Entrepreneurship, like an entrepreneur, has no single definition.
• Entrepreneur is a person while entrepreneurship is a process.
• Entrepreneurship is a process under taken by an entrepreneur to create incremental value and
wealth by discovering investment opportunities, organizing enterprises, undertaking risks and
economic uncertainty and there by contributing to economic growth
SGS 5
6. During the ancient period the word entrepreneur was used to refer to a person managing large
commercial projects through the resources provided to him.
• In the 17th Century a person who has signed a contractual agreement with the government to
provide stipulated products or to perform service was considered as entrepreneur.
• In the 18th Century the first theory of entrepreneur has been developed by Richard Cantillon. He
said that an entrepreneur is a risk taker. If we consider the merchant, farmers and /or the
professionals they all operate at risk. For example, the merchants buy products at a known price
and sell it at unknown price and this shows that they are operating at risk.
SGS 6
7. The other development during the 18th Century is the differentiation of the entrepreneurial role from
capital providing role.The later role is the base for today’s venture capitalist.
• In the late 19th and early 20th Century an entrepreneur was viewed from economic perspectives.
The entrepreneur organizes and operates an enterprise for personal gain.
• In the middle of the 20th and early 21thCentury the notion of an entrepreneur as an inventor was
established.
SGS 7
8. Role of entrepreneurs within the economy
• Capital formulations: - Entrepreneurs mobilize the idle saving of the public through the issue of
industrial securities.
• Improvement in per capita income
• Generation of employment
• Improvement of the living standard
• Economic independence
• Balances regional development
• Innovation: the commercial application of invention
• Imitating role
SGS 8
10. Areas of Innovation
• New product
• New Services
• New Production Techniques
• New Way of Delivering the Product or Service to the Customer
• New Operating Practices
• New Means of Informing the Customer about the Product
• New Means of Managing Relationship within the Organization
• New Ways of Managing Relationships between Organizations
SGS 10
11. Small Businesses
• Small business is a business which is independently owned and operated, not dominated in its
field of operation and meets certain standard of number of employee and capital.
• In general there are two approaches to define a small business; measures of the size and
economic/ control criteria
SGS 11
12. Size criteria
• Some of the criteria’s to measure the size are
• Number of employees: - for example in Indian case it is Less than 30 employees (6-30).
• Investment paid up capital: - for India it is 100,001- 1,500,000 (industry), and 50,001-500,000 Rs
(service).
• Volume of sales, production and deposits are also used to measure the size of business
• If there is ambiguity in the definition between the usage of man power and capital, it is
recommended to use the total paid up capital as a measurement criteria
SGS 12
13. Economic/Control criteria
• Market share: has no significant influence on the price of national quantities of goods sold to
any significant level.
• Independence: independence means that an owner has control of the business himself.
• Personalized management: It implies that the owner actively participates in all aspects of the
management of the business and in major decision making process.
• Technology: small business is generally labor intensive
• Geographical area of operation: the area of operation of a small business is often local
SGS 13
14. Economic, social and political aspects of small business enterprises in Sri Lanka
• Socialistic idea (the equality argument )
• Less capital and more labor
• Removing regional imbalances (the decentralization arguments)
• Creating self-employment opportunities
• Ancillary functions
• Export promotion
• Supply of critical raw materials
SGS 14
15. Small business failure factors
• Management incompetence
• Poor financial control
• Lack of adequate capital
• Over investment in fixed asset
• Failure to plan current as well as future operation
• Failure to adopt proper inventory control system
• Improper Attitude (The entrepreneur may not respect time, employees and may have lazy lifestyle
and dictatorial style of work)
• Inadequate marketing plan
• Incorrect market identification
• Poor distribution channel
• Weak marketing communication or promotion
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16. How to avoid the pitfalls / difficulties of a small business
• Know your business in depth:
• Have a Good Relation with Stake Holders
• Prepare business plan
• Managing financial resources
• Understanding financial statement
• Learn to manage people effectively
• Keep in tune with yourself
• Take up short professional courses in management (entrepreneurship):
• Be sensitive to your customers
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17. Setting up a small business
• The first and for most step in starting a small business is to find out a suitable business idea and
give a practical shape to the idea.
• To think of a goal for the business in the long run rather than to look for the immediate tomorrow is
called Basic Business Idea.
• The basic business idea is to meet the broadest needs of the customers and has a long life
perhaps from 5-50 years.
• The basic business idea facilitates choice of product under an overall plan.
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18. • The product line consists of different families of products.
• The product range on the other hand includes different sizes of the product within the product
line.
• In order to establish a business venture with an entrepreneurial system an entrepreneur needs
to take the following steps
1. Search for business idea
2. Process the idea
3. Select the best idea
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19. What a project an entrepreneur should have?
The project an entrepreneur chooses should be based on SWOT analysis.
• Strength
• Opportunity
• Weakness
• Threat
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21. Project classifications
• Quantifiable and Non-Quantifiable projects
• Sectorial projects :-under this the following projects can be mentioned Agricultural sector
Power sector Industry and mining Social service sector Transport and communication
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23. Characteristics of small scale industry
• Closely held
• Personal character
• Limited scale of operation
• Indigenous resources
• Labor intensive
• Local area of operation
• Simple organization
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24. Business planning
A business plan is a written document prepared by the individual entrepreneur or partners that
describes the goals and objectives of the business along with steps necessary to achieve those goals.
Business plan is also defined as a written summary of the entrepreneur’s proposed venture, its
operational and financial details, its marketing opportunities & strategy, and its manager’s skills and
abilities.
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25. Purpose
When business plans are produced
• At star-up of new business
• Buyout stage/business purchase
• Ongoing review stage
• Major decision
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26. Who is going to prepare business plans
□ Managers:
□ Owners:
□ Lenders:
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29. Scope of Business plan
Business plan includes information on the following aspects:
Economic/Market aspects: Economic justification like market size, market growth, market share.
Technical aspects: Details on technology needed, equipment and match their sources
Financial aspects:Total investment, cost of capital, Request Of Inspection, source of capital,enterprise
contribution
Production aspects: product, its design, standard of quality, usage, production aspect like production
process, schedule, technology.
Managerial aspects: Qualification & experience, commitment & planning
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30. Formats of a business plan
□ Executive summary
□ Company History
□ Business Profile
□ Business Strategy
□ Description of the firm’s product
□ marketing strategy
□ Competitors Analysis
□ Officers’ owners’ Resumes
□ Plan of operation
□ Financial data
□ Loan Proposal
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31. Common Mistakes in Business Plan Preparation
• Single-Purpose use
• One- person commitment
• Being neglect
• Unworkable document
• Unbalanced application
• Disillusionment
• Too- action Oriented
• No Performance Standard
• Poor progress Control
• Early consumption
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32. Marketing and New Venture Development
Marketing Research: is the systematic gathering, recording and analyzing of data about problems
related to the marketing of goods and services.
It is the function which links the consumer [customer] and public to the marketer through
information-information used to identify and define marketing opportunities and problems;
generate, define, and evaluate marketing actions; monitor marketing performance; and improve
understanding of marketing as a process.
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33. Characteristics of a marketing research
• Marketing research should be systematic
• Marketing research is a process
• Data may be available from difference sources
• Marketing research may be applied to any aspect of marketing that requires information to aid
decision making.
• Research findings and their implementation must be communicated to the appropriate decision
matter. In conducting marketing research, scientific methods should be followed.The scientific
method requires objectivity, accuracy, and thoroughness.
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34. The Scope of Marketing Research
• Market Research
• Sales analysis/Research
• Consumer Research
• Advertising Research
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35. The Marketing Research Process
□ Problem definition
□ Examination of primary & secondary data
□ Analysis of data
□ Making Recommendation
□ Implementation of findings
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36. Marketing Intelligence
Marketing intelligence is the systematic collection and analysis of publicly available information
about competitors and developments in the marketplace.
Techniques range from quizzing the company’s own employees and benchmarking competitors’
products to researching internet, lurking around industry tradeshows, and even routing through
rivals’ trash bins.
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37. Competitive Analysis
Competitive analysis is a widely used approach for developing strategies in many industries.
According to Porter, the nature of competitiveness in a given industry can be viewed as a composite of
five forces:
1. Rivalry among competing firms
2. Potential entry of new competitors
3. Potential development of substitute products
4. Bargaining power of suppliers
5. Bargaining power of consumers
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38. Marketing Strategies
• Marketing strategy refers to the marketing logic by which the company hopes to create customer
value and achieve profitable relationships.
• Companies know that they cannot profitably serve all consumers in a given market.
• Thus, each company must divide up the total market, choose the best segment, and design
strategies for profitably serving chosen segments.This process involves market segmentation,
target marketing, differentiation (actually differentiating the market offering to create superior
customer value), and positioning.
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39. Diversification Strategies
In search of growth, a firm has four options:
1. Market Penetration: the firm can stay with its base product or service, and its existing market
2. Product Development: the firm can develop related or new products for its existing market.
3. Market Development: the firm can develop related or new markets for its existing products.
4. Entry in to new Market: the firm might try to move into related or new markets with related or
new products.
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40. International Markets
International marketing is important because of the economic theory of comparative advantage.
This theory states that each country has natural advantages over others in the production of
certain goods, and therefore specialization and the trading of surpluses will benefit everybody.
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41. Reasons for Internationalization
• Small or saturated domestic markets
• Economies of scale
• International production
• Customer relationships
• Market diversification
• International competitiveness
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42. Organizing and Financing the New Venture When establishing an entrepreneurial team people should
look for,
□ Those who share the same values and vision for the company
□ Those who have complementary skills
□ Those who have integrity
□ Those who can manage the risks of a small business
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43. The following are common errors in team building,
• Not considering experience and qualification of each member
• Putting together a team whose members have different goals
• Using only insiders in the board of directors
• Using family members as attorney and accountant
• Giving the management team all stock in lieu of salary
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45. Sources of Finance
• Equity Financing
• Stock (Preferred & Common stock)
• Retained earnings
• Sale of assets
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46. Venture capital
Venture capitalists may be investment bankers when they invest capital,make loans, and give
management advice intended to assist the company to achieve significant growth.
Many companies financed by venture capitalists convert from closely held corporations to public
corporations during the course of their growth.
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48. Managing Growth and Transaction Preparing for the Launch of the Venture
• Hiring New Employees
• Creating Awareness of the New Venture Managing Early Growth of Venture
• Motivating and leading the team
• Financial Control
• Managing Cash Flow
• Managing Assets
• Managing Costs and Profits
• Taxes
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