1. Successful entrepreneurs have certain key traits like leadership skills, motivation, persistence, and the ability to build strong teams.
2. The entrepreneurial process is driven by opportunities that the lead entrepreneur and their team work to capture through strategic planning, networking, and effective resource management.
3. Building a high-growth company requires strong leadership, a complementary team, securing funding, and controlling resources to pursue opportunities others may miss. Most highly successful ventures are able to scale rapidly.
The document provides an overview of entrepreneurship and small businesses. It discusses key findings from studies such as:
- Over 550,000 new businesses are launched in the US each year.
- Men are twice as likely to start businesses as women, and most entrepreneurs get funding from family and friends.
- Entrepreneurs are most active between ages 25-44.
- 388 million people globally were actively engaged in entrepreneurship in 2011, creating jobs and innovations.
The document then covers definitions of entrepreneurship, reasons for becoming an entrepreneur, characteristics of successful entrepreneurs, myths about entrepreneurship, and the economic and social impacts of entrepreneurial firms and small businesses.
This document discusses the entrepreneurial mindset through two approaches: the trait approach and OC (optimism and chance) theory. The trait approach identifies characteristics commonly found in successful entrepreneurs like the need for achievement, internal locus of control, and risk tolerance. OC theory views entrepreneurs as optimistic individuals who enter opportunities involving chance. Entrepreneurial success depends on having the right skills align with customer demands as well as access to resources to withstand losses until chances turn favorable. The document also outlines sources of research on entrepreneurs and discusses some negative aspects like the stress, ego, and difficulties entrepreneurs face as managers.
The document discusses the characteristics of entrepreneurs and entrepreneurship. It defines entrepreneurship as pursuing opportunities beyond one's current resources. Entrepreneurs perceive opportunities, believe success is possible, and are motivated to pursue opportunities. The document then outlines the different stages of starting a business from realizing the opportunity to consolidating resources to implementing and running a venture successfully. It also lists various entrepreneurial functions and skills such as selling, marketing, planning, risk-taking, and problem-solving.
The Entrepreneurial Mindset - And Why You Cannot Learn How to Become OneMartin Schweiger
How to become a successful entrepreneur:
Brains help. Money helps. Knowing the right people helps.
But without an entrepreneurial mindset, everything else gets sidetracked.
This document discusses entrepreneurial behavior and personality. It defines an entrepreneur as an individual who runs their own small business and assumes the risks and rewards. Entrepreneurs take on roles like business leader, innovator, and motivator. They work as business planners, hiring labor, acquiring resources and financing. Some obstacles they face include overcoming bureaucracy, hiring talent, and acquiring financing. The document outlines attitudes needed to start a business like doing what you enjoy and managing money wisely. It discusses theories of entrepreneurship like focusing on innovation or understanding the market. Motivation and locus of control theories are also covered. The decision making process, time management, skills, and intrapreneurship vs entrepreneurship are summarized.
Dr. G. Richard Patton is the featured speaker. He has been a faculty member at the University of Pittsburgh's Katz Graduate School of Business since 1976, where he teaches courses in entrepreneurship, innovation, and strategic management. He was also the president and CEO of an investment fund that specialized in early stage venture capital investments. The presentation overview includes topics on entrepreneurship, innovation, strategic management, and examples from companies like Google and GE. It discusses the importance of innovation, different types of innovation, traits of successful innovators, and building a systematic innovation capability in organizations.
ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENTMathu Shan
Entrepreneurship involves starting a business to produce goods and services, taking on financial and social risks and rewards. An entrepreneur recognizes opportunities, organizes resources, and takes initiative. Key aspects of entrepreneurship include innovation, risk-taking, identifying business opportunities, and mobilizing resources to capitalize on opportunities to create new products or services. Entrepreneurship results in new businesses being formed, greater organization of resources, wealth creation and new jobs.
The entrepreneurial mindset does not only belong to the owners of different enterprises but this quality can be present in many people related to different fields. Focusing on the entrepreneurial mindset, it is the characteristic which motivates the person to evaluate, exploit and discover opportunities. This characteristic is common in habitual entrepreneurs who are different from ordinary business managers as they are passionate in seeking new opportunities and bypass other unfruitful options in order to keep themselves safe from exhaustion. They are keen to concentrate on adaptive executions and they motivate their team members so that the common goal can be achieved (McGrath and MacMillan, 2000).
The document provides an overview of entrepreneurship and small businesses. It discusses key findings from studies such as:
- Over 550,000 new businesses are launched in the US each year.
- Men are twice as likely to start businesses as women, and most entrepreneurs get funding from family and friends.
- Entrepreneurs are most active between ages 25-44.
- 388 million people globally were actively engaged in entrepreneurship in 2011, creating jobs and innovations.
The document then covers definitions of entrepreneurship, reasons for becoming an entrepreneur, characteristics of successful entrepreneurs, myths about entrepreneurship, and the economic and social impacts of entrepreneurial firms and small businesses.
This document discusses the entrepreneurial mindset through two approaches: the trait approach and OC (optimism and chance) theory. The trait approach identifies characteristics commonly found in successful entrepreneurs like the need for achievement, internal locus of control, and risk tolerance. OC theory views entrepreneurs as optimistic individuals who enter opportunities involving chance. Entrepreneurial success depends on having the right skills align with customer demands as well as access to resources to withstand losses until chances turn favorable. The document also outlines sources of research on entrepreneurs and discusses some negative aspects like the stress, ego, and difficulties entrepreneurs face as managers.
The document discusses the characteristics of entrepreneurs and entrepreneurship. It defines entrepreneurship as pursuing opportunities beyond one's current resources. Entrepreneurs perceive opportunities, believe success is possible, and are motivated to pursue opportunities. The document then outlines the different stages of starting a business from realizing the opportunity to consolidating resources to implementing and running a venture successfully. It also lists various entrepreneurial functions and skills such as selling, marketing, planning, risk-taking, and problem-solving.
The Entrepreneurial Mindset - And Why You Cannot Learn How to Become OneMartin Schweiger
How to become a successful entrepreneur:
Brains help. Money helps. Knowing the right people helps.
But without an entrepreneurial mindset, everything else gets sidetracked.
This document discusses entrepreneurial behavior and personality. It defines an entrepreneur as an individual who runs their own small business and assumes the risks and rewards. Entrepreneurs take on roles like business leader, innovator, and motivator. They work as business planners, hiring labor, acquiring resources and financing. Some obstacles they face include overcoming bureaucracy, hiring talent, and acquiring financing. The document outlines attitudes needed to start a business like doing what you enjoy and managing money wisely. It discusses theories of entrepreneurship like focusing on innovation or understanding the market. Motivation and locus of control theories are also covered. The decision making process, time management, skills, and intrapreneurship vs entrepreneurship are summarized.
Dr. G. Richard Patton is the featured speaker. He has been a faculty member at the University of Pittsburgh's Katz Graduate School of Business since 1976, where he teaches courses in entrepreneurship, innovation, and strategic management. He was also the president and CEO of an investment fund that specialized in early stage venture capital investments. The presentation overview includes topics on entrepreneurship, innovation, strategic management, and examples from companies like Google and GE. It discusses the importance of innovation, different types of innovation, traits of successful innovators, and building a systematic innovation capability in organizations.
ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENTMathu Shan
Entrepreneurship involves starting a business to produce goods and services, taking on financial and social risks and rewards. An entrepreneur recognizes opportunities, organizes resources, and takes initiative. Key aspects of entrepreneurship include innovation, risk-taking, identifying business opportunities, and mobilizing resources to capitalize on opportunities to create new products or services. Entrepreneurship results in new businesses being formed, greater organization of resources, wealth creation and new jobs.
The entrepreneurial mindset does not only belong to the owners of different enterprises but this quality can be present in many people related to different fields. Focusing on the entrepreneurial mindset, it is the characteristic which motivates the person to evaluate, exploit and discover opportunities. This characteristic is common in habitual entrepreneurs who are different from ordinary business managers as they are passionate in seeking new opportunities and bypass other unfruitful options in order to keep themselves safe from exhaustion. They are keen to concentrate on adaptive executions and they motivate their team members so that the common goal can be achieved (McGrath and MacMillan, 2000).
The document discusses entrepreneurship and its role in economic development. It defines entrepreneurship as undertaking innovations and transforming them into economic goods. Entrepreneurs take risks and play a significant role in creating jobs, developing new technologies, and solving social problems. Their activities help generate wealth and drive economic growth. The document also outlines several ways in which entrepreneurship contributes to economic development, such as through employment generation, increasing national income, promoting regional development, and improving standards of living. Intrapreneurship within organizations is also discussed as a form of internal entrepreneurship.
Chapter 1 The Revolutionary Impact of Entrepreneurship691966
The document provides an overview of entrepreneurship and entrepreneurial concepts. It discusses:
- The definition and evolution of entrepreneurship, distinguishing entrepreneurs from small business owners.
- Different schools of thought on entrepreneurship, including trait, opportunity, strategic formulation, environmental, and financial capital schools.
- Approaches to studying entrepreneurship, such as integrative, assessment, and multidimensional approaches.
- Trends in entrepreneurship research including venture financing, corporate entrepreneurship, social entrepreneurship, and women/minority entrepreneurs.
- The impact of entrepreneurship on the economy through job creation, innovation, and contributions of small businesses and "gazelle" companies.
Entrepreneurs tend to have certain key characteristics that contribute to their success, according to interviews with distinguished entrepreneurs. Some of the most important characteristics include: having good physical health and stamina to work long hours; being self-confident and able to tackle problems immediately; having a constant sense of urgency and impatience with inactivity; and possessing strong conceptual abilities to identify relationships and solve complex problems quickly. Entrepreneurs also tend to find satisfaction in the performance and success of their business rather than personal status or recognition.
Entrepreneurship Introduction Part 3 - Core CompetenciesFranciz Panganiban
The document discusses entrepreneurial core competencies. It defines entrepreneurial competencies as the combination of personality traits, skills, and knowledge that entrepreneurs need to effectively perform their functions and responsibilities. It then explores the different types of competencies, including functional, emotional, cross-functional, and six core areas - opportunity competency, relationship competency, conceptual competency, organizing competency, strategic competency, and commitment competency. Finally, it describes eight factors that can affect an entrepreneur's decision-making process: scientific/rational method, intuition, affect infusion, attribution style, counterfactual thinking, overconfidence, knowing style, and creative style.
The document discusses the entrepreneurial mindset. It defines mindset and explains that there are two types: a fixed mindset where qualities are seen as fixed traits, and a growth mindset where qualities can be developed through effort. An entrepreneurial mindset is a set of assumptions and methods that trigger entrepreneurial behavior. Characteristics include open-mindedness, persistence, and focus. Developing an entrepreneurial mindset in a society is important for economic growth, innovation, and coping with changing business environments. Factors like motivation, knowledge, and attitude influence mindset and behavior.
This document summarizes key aspects of entrepreneurship from Chapter 1. It discusses how entrepreneurs take initiative by bundling resources innovatively while bearing risk and uncertainty. The entrepreneurial process involves identifying opportunities based on market size and window of opportunity. Entrepreneurs think differently than others by effectuating based on available resources and selecting outcomes. They learn from failure through an emotional recovery process of loss-orientation and restoration-orientation. Entrepreneurship drives economic development through innovation in products that evolve from iterative synthesis of knowledge and social needs.
Maynard Foundation presentation on Entrepreneurship and Management, in Journa...Andrew Rosenthal
An invited talk at the Nieman Center at Harvard, for the Maynard Foundation fellows, on entrepreneurship and management. Three case studies on intrapreneurship.
What does it take to be an entrepreneur ? Discover some of the characteristics behind a successful individual who bears the risk of operating business in the face of uncertainty about the future conditions. Power Point by Prof. J.C. Sabo
This document discusses entrepreneurship and leadership. It defines a leader as someone who influences others and an entrepreneur as an individual who organizes businesses and brings innovation for social good. The key qualities of an entrepreneurial leader are being open to change, acting as a role model, and having human relations and technical expertise. Different types of entrepreneurial leadership are discussed, including laissez-faire, autocratic, participative, transactional, and transformational. Entrepreneurship requires leadership skills like seeing opportunities, decision making, and inspiring others. Leaders and entrepreneurs are both innovative and challenge the status quo to develop organizations.
Becoming an Entrepreneur is the first info graphic book of an ongoing series of books you will actually read. The average person can read these book in roughly one hour . The hope is that the big truths packed into these little books will make them different from the many other books that you would never pick up or would pick up only to quickly put down forever because they are simply too wordy and don't get to the point.
The document discusses various considerations for starting a business, including motivations, deciding between starting or buying a business, assessing the market, and costs. It outlines three main types of business motivations: lifestyle ventures focused on flexibility and personal interests; smaller profit ventures aiming to make a decent living; and high growth ventures focused on maximum profit and innovation. The document also covers questions around operating domestically or globally and managing the formalization process and growth pressures that come with business expansion.
Entrepreneurship Management Chapter 1: ENTREPRENEURSHIP AND THE ENTREPRENEURI...Lena Argosino
This document provides an overview of key concepts in entrepreneurship and the entrepreneurial mindset. It defines an entrepreneur as someone who takes initiative and bears risk to bundle resources innovatively. Entrepreneurship is creating something new with value through time and effort. The entrepreneurial process involves creating value while assuming financial, psychic and social risks. Other concepts covered include opportunity identification, the entrepreneurial mindset of rapid sensing and acting under uncertainty, and business ethics.
1. Characteristics or Features or Importance of Successful Entrepreneurs. Or explain the personal Features of Entrepreneurial leadership.
2. What is entrepreneurial decision process?
3. Entrepreneurship and the Entrepreneurial Process. Explain.
4. Explain Break even analysis and its calculator.
5. Write down the steps in preparing Marketing Plan.
6. What is the Importance of International Entrepreneurship?
7. Entrepreneurial Entry into International Business.
8. Features of Joint Venture and Franchising.
9. Features and types of Synergy in Mergers & Acquisition.
10. What are the Methods of Generating Ideasalso explain Innovation, Creativity and Entrepreneurship.
This document discusses entrepreneur mindsets and provides advice for aspiring entrepreneurs. It makes three key points:
1) Entrepreneurs have a growth mindset focused on taking action and creating change rather than avoiding risk. Anyone can be an entrepreneur if they commit to pursuing opportunities.
2) Limiting beliefs can prevent people from achieving their potential, but having the right mindset of possibility, ability, and worthiness can help people accomplish goals they previously thought impossible.
3) Consistent action is important for entrepreneurial success. While knowledge is valuable, people who combine knowledge with action like Bill Gates and Steve Jobs have built billion dollar companies, showing that action is the key driver of results.
This module explores the concept of entrepreneurial mind sets, developing entrepreneurial thinking, finding inspiration and discovering the benefits of creative thinking
The document provides an introduction to entrepreneurship, discussing that it is a discipline that can be learned, not magic. It defines different types of companies and the characteristics of entrepreneurs versus managers. Entrepreneurship involves recognizing opportunities where others see chaos. Entrepreneurial culture prefers new ideas and innovation. While entrepreneurship offers benefits like independence and potential financial rewards, it also carries risks like a lack of experience and improper planning.
The document discusses the characteristics of entrepreneurs versus inventors. It notes that inventors develop new products or services but may not bring them to market, while entrepreneurs take the risk of commercializing inventions by bringing together resources to sell the product or service. Entrepreneurs are focused on defining markets, sales, production, hiring, managing staff, and scaling the business. In contrast, inventors enjoy the inventing process but are often not interested in or skilled at building a business. The document provides examples of inventors who created new technologies but were not the ones to start companies bringing them to consumers.
This document discusses the entrepreneurial mindset and its importance. It defines entrepreneurship as starting a business to solve problems or improve products/services. Developing an entrepreneurial mindset can help reduce unemployment by creating new opportunities. The mindset involves qualities like risk-taking, urgency, creativity, flexibility, and dealing with ambiguity. Entrepreneurial mindset in organizations can be assessed based on leadership, motivation, creativity, risk-taking, initiative, analytical skills, networking, and persuasiveness. Fostering this mindset may improve firms' competitive advantage and performance.
Hindustan Unilever Limited was established in 1933 as Lever Brothers India Limited and underwent name changes over the decades to arrive at its current name. It aims for sustainable growth through its brands, employees, and operations while reducing environmental impact and creating social good. Some of its key CSR projects include Project Shakti for rural women's livelihood, Sanjivani mobile health clinics, sustainable sourcing, and initiatives to provide safe drinking water, support orphanages and schools for disabled children, and improve community health and sanitation.
Corporate Social Responsibility (CSR) at Hindustan Unilever (HUL)Rohan Bharaj
This presentation showcases the CSR activities undertaken by the biggest FMCG company in India - HUL.
It also talks about how it has impacted the lives of so many people in a positive way.
The document discusses entrepreneurship and its role in economic development. It defines entrepreneurship as undertaking innovations and transforming them into economic goods. Entrepreneurs take risks and play a significant role in creating jobs, developing new technologies, and solving social problems. Their activities help generate wealth and drive economic growth. The document also outlines several ways in which entrepreneurship contributes to economic development, such as through employment generation, increasing national income, promoting regional development, and improving standards of living. Intrapreneurship within organizations is also discussed as a form of internal entrepreneurship.
Chapter 1 The Revolutionary Impact of Entrepreneurship691966
The document provides an overview of entrepreneurship and entrepreneurial concepts. It discusses:
- The definition and evolution of entrepreneurship, distinguishing entrepreneurs from small business owners.
- Different schools of thought on entrepreneurship, including trait, opportunity, strategic formulation, environmental, and financial capital schools.
- Approaches to studying entrepreneurship, such as integrative, assessment, and multidimensional approaches.
- Trends in entrepreneurship research including venture financing, corporate entrepreneurship, social entrepreneurship, and women/minority entrepreneurs.
- The impact of entrepreneurship on the economy through job creation, innovation, and contributions of small businesses and "gazelle" companies.
Entrepreneurs tend to have certain key characteristics that contribute to their success, according to interviews with distinguished entrepreneurs. Some of the most important characteristics include: having good physical health and stamina to work long hours; being self-confident and able to tackle problems immediately; having a constant sense of urgency and impatience with inactivity; and possessing strong conceptual abilities to identify relationships and solve complex problems quickly. Entrepreneurs also tend to find satisfaction in the performance and success of their business rather than personal status or recognition.
Entrepreneurship Introduction Part 3 - Core CompetenciesFranciz Panganiban
The document discusses entrepreneurial core competencies. It defines entrepreneurial competencies as the combination of personality traits, skills, and knowledge that entrepreneurs need to effectively perform their functions and responsibilities. It then explores the different types of competencies, including functional, emotional, cross-functional, and six core areas - opportunity competency, relationship competency, conceptual competency, organizing competency, strategic competency, and commitment competency. Finally, it describes eight factors that can affect an entrepreneur's decision-making process: scientific/rational method, intuition, affect infusion, attribution style, counterfactual thinking, overconfidence, knowing style, and creative style.
The document discusses the entrepreneurial mindset. It defines mindset and explains that there are two types: a fixed mindset where qualities are seen as fixed traits, and a growth mindset where qualities can be developed through effort. An entrepreneurial mindset is a set of assumptions and methods that trigger entrepreneurial behavior. Characteristics include open-mindedness, persistence, and focus. Developing an entrepreneurial mindset in a society is important for economic growth, innovation, and coping with changing business environments. Factors like motivation, knowledge, and attitude influence mindset and behavior.
This document summarizes key aspects of entrepreneurship from Chapter 1. It discusses how entrepreneurs take initiative by bundling resources innovatively while bearing risk and uncertainty. The entrepreneurial process involves identifying opportunities based on market size and window of opportunity. Entrepreneurs think differently than others by effectuating based on available resources and selecting outcomes. They learn from failure through an emotional recovery process of loss-orientation and restoration-orientation. Entrepreneurship drives economic development through innovation in products that evolve from iterative synthesis of knowledge and social needs.
Maynard Foundation presentation on Entrepreneurship and Management, in Journa...Andrew Rosenthal
An invited talk at the Nieman Center at Harvard, for the Maynard Foundation fellows, on entrepreneurship and management. Three case studies on intrapreneurship.
What does it take to be an entrepreneur ? Discover some of the characteristics behind a successful individual who bears the risk of operating business in the face of uncertainty about the future conditions. Power Point by Prof. J.C. Sabo
This document discusses entrepreneurship and leadership. It defines a leader as someone who influences others and an entrepreneur as an individual who organizes businesses and brings innovation for social good. The key qualities of an entrepreneurial leader are being open to change, acting as a role model, and having human relations and technical expertise. Different types of entrepreneurial leadership are discussed, including laissez-faire, autocratic, participative, transactional, and transformational. Entrepreneurship requires leadership skills like seeing opportunities, decision making, and inspiring others. Leaders and entrepreneurs are both innovative and challenge the status quo to develop organizations.
Becoming an Entrepreneur is the first info graphic book of an ongoing series of books you will actually read. The average person can read these book in roughly one hour . The hope is that the big truths packed into these little books will make them different from the many other books that you would never pick up or would pick up only to quickly put down forever because they are simply too wordy and don't get to the point.
The document discusses various considerations for starting a business, including motivations, deciding between starting or buying a business, assessing the market, and costs. It outlines three main types of business motivations: lifestyle ventures focused on flexibility and personal interests; smaller profit ventures aiming to make a decent living; and high growth ventures focused on maximum profit and innovation. The document also covers questions around operating domestically or globally and managing the formalization process and growth pressures that come with business expansion.
Entrepreneurship Management Chapter 1: ENTREPRENEURSHIP AND THE ENTREPRENEURI...Lena Argosino
This document provides an overview of key concepts in entrepreneurship and the entrepreneurial mindset. It defines an entrepreneur as someone who takes initiative and bears risk to bundle resources innovatively. Entrepreneurship is creating something new with value through time and effort. The entrepreneurial process involves creating value while assuming financial, psychic and social risks. Other concepts covered include opportunity identification, the entrepreneurial mindset of rapid sensing and acting under uncertainty, and business ethics.
1. Characteristics or Features or Importance of Successful Entrepreneurs. Or explain the personal Features of Entrepreneurial leadership.
2. What is entrepreneurial decision process?
3. Entrepreneurship and the Entrepreneurial Process. Explain.
4. Explain Break even analysis and its calculator.
5. Write down the steps in preparing Marketing Plan.
6. What is the Importance of International Entrepreneurship?
7. Entrepreneurial Entry into International Business.
8. Features of Joint Venture and Franchising.
9. Features and types of Synergy in Mergers & Acquisition.
10. What are the Methods of Generating Ideasalso explain Innovation, Creativity and Entrepreneurship.
This document discusses entrepreneur mindsets and provides advice for aspiring entrepreneurs. It makes three key points:
1) Entrepreneurs have a growth mindset focused on taking action and creating change rather than avoiding risk. Anyone can be an entrepreneur if they commit to pursuing opportunities.
2) Limiting beliefs can prevent people from achieving their potential, but having the right mindset of possibility, ability, and worthiness can help people accomplish goals they previously thought impossible.
3) Consistent action is important for entrepreneurial success. While knowledge is valuable, people who combine knowledge with action like Bill Gates and Steve Jobs have built billion dollar companies, showing that action is the key driver of results.
This module explores the concept of entrepreneurial mind sets, developing entrepreneurial thinking, finding inspiration and discovering the benefits of creative thinking
The document provides an introduction to entrepreneurship, discussing that it is a discipline that can be learned, not magic. It defines different types of companies and the characteristics of entrepreneurs versus managers. Entrepreneurship involves recognizing opportunities where others see chaos. Entrepreneurial culture prefers new ideas and innovation. While entrepreneurship offers benefits like independence and potential financial rewards, it also carries risks like a lack of experience and improper planning.
The document discusses the characteristics of entrepreneurs versus inventors. It notes that inventors develop new products or services but may not bring them to market, while entrepreneurs take the risk of commercializing inventions by bringing together resources to sell the product or service. Entrepreneurs are focused on defining markets, sales, production, hiring, managing staff, and scaling the business. In contrast, inventors enjoy the inventing process but are often not interested in or skilled at building a business. The document provides examples of inventors who created new technologies but were not the ones to start companies bringing them to consumers.
This document discusses the entrepreneurial mindset and its importance. It defines entrepreneurship as starting a business to solve problems or improve products/services. Developing an entrepreneurial mindset can help reduce unemployment by creating new opportunities. The mindset involves qualities like risk-taking, urgency, creativity, flexibility, and dealing with ambiguity. Entrepreneurial mindset in organizations can be assessed based on leadership, motivation, creativity, risk-taking, initiative, analytical skills, networking, and persuasiveness. Fostering this mindset may improve firms' competitive advantage and performance.
Hindustan Unilever Limited was established in 1933 as Lever Brothers India Limited and underwent name changes over the decades to arrive at its current name. It aims for sustainable growth through its brands, employees, and operations while reducing environmental impact and creating social good. Some of its key CSR projects include Project Shakti for rural women's livelihood, Sanjivani mobile health clinics, sustainable sourcing, and initiatives to provide safe drinking water, support orphanages and schools for disabled children, and improve community health and sanitation.
Corporate Social Responsibility (CSR) at Hindustan Unilever (HUL)Rohan Bharaj
This presentation showcases the CSR activities undertaken by the biggest FMCG company in India - HUL.
It also talks about how it has impacted the lives of so many people in a positive way.
Boost Biotech Poland organizes meetings and competitions to promote science and entrepreneurship in biotechnology. It aims to build a community of people interested or working in bio-tech. It holds regular meetings in several Polish cities that are open to anyone interested in biotechnology from various fields. It also organizes a science pitch contest for PhD students to promote their research.
The document provides financial and market information for ITC Limited, an Indian conglomerate company operating in FMCG and other sectors. ITC has a 49% market share in the Indian FMCG sector and reported 8.56% and 8.77% sales growth in March 2014 and June 2014 respectively. ITC's share price was Rs. 733.75 with a market capitalization of Rs. 158,741.64 crores and a P/E ratio of 40.66, comparable to the industry P/E of 40.74. The company has a 67% promoter holding and generates most of its sales from tobacco, foods, personal care, and beverages.
Ritika Gogna presented to Shelly Khosla on Hindustan Unilever Limited (HUL). HUL is India's largest FMCG company with over 35 brands and a distribution network of 6.3 million outlets. It has strengths in R&D, branding, market strategy, and rural marketing initiatives. Opportunities exist in tapping rural/urban markets, acquisitions, and expanding product categories. However, HUL faces weaknesses such as competition and losing market share to other brands.
ITC was incorporated in 1910 as Imperial Tobacco Company of India and has since diversified into various businesses including cigarettes, hotels, IT, packaging, paper, agriculture, food, retail, and personal care. The company engages in environmental practices like watershed development, water conservation, and producing chlorine-free paper. For corporate social responsibility, ITC supports primary education through infrastructure for government schools, women's empowerment through micro-credit and entrepreneurship programs, and agricultural development with irrigation wells, sprinklers, and demonstration plots. The document compares ITC's initiatives in watershed development, women's empowerment, agriculture, and education to HUL's work in water conservation, women's empowerment, flood relief in Bi
Hindustan Unilever Limited (HUL) is India's largest fast moving consumer goods company with brands in food, beverages, home and personal care. It aims to earn the love and respect of India by making a real difference to every Indian. HUL has 35 power brands that meet daily needs with nutrition, hygiene and personal care products. The company focuses on rural expansion through initiatives like Project Shakti that empowers rural women and generates income. HUL also undertakes corporate social responsibility programs in health, education, women empowerment and rural development.
HUL and ITC are the two largest FMCG companies in India. HUL has the largest portfolio of household brands and saw higher sales turnover in 2013 than 2012. ITC was originally an tobacco company but has diversified into foods, hotels, and other sectors. Both companies divide customers into segments - striving, aspiring, and affluent - and target each segment differently with branded products at various price points. While HUL focuses on cost leadership, ITC aims to deliver value. ITC has overtaken HUL in food sales but HUL maintains an overall lead in the non-cigarette FMCG market. Both companies employ strategies around segmentation, targeting, and positioning to compete effectively.
Hindustan Unilever Limited (HUL) is India's largest Fast Moving Consumer Goods company with a presence across India through 100 factories. Formed in 1956 through the merger of Unilever's Indian subsidiaries that were established in the 1930s, HUL is majority owned by Anglo-Dutch company Unilever. HUL is a market leader in India for products such as soaps, detergents, personal care products and foods. The company focuses on rural markets through initiatives like Project Shakti that aims to economically empower women. HUL is committed to corporate social responsibility through various health, education and environmental programs.
ITC has been engaged in corporate social responsibility initiatives for many years. It is the only company in the world that is carbon positive, water positive and solid waste recycling positive. Some of ITC's key CSR programs include watershed development, e-Choupal which benefits farmers, renewable energy projects, empowering disabled people, waste management, women's empowerment and social forestry. ITC aims to generate livelihoods and improve access to resources through large-scale sustainability programs.
A study & comparative analysis of hul & itc performanceMumbai University
The document provides an overview of the FMCG industry in India. It discusses that India is a growing consumer market projected to more than double consumer spending by 2025. Global corporations see India as a key future market due to rising incomes and a young demographic. The government has also played a role through policies attracting FDI and boosting economic growth. Key segments like consumer durables and online retail are projected to have high growth rates. Major companies are making investments and partnerships to capitalize on opportunities in India's consumer market. The government is also undertaking initiatives to support the industry.
This document discusses the concept of entrepreneurship and characteristics of entrepreneurs. It defines entrepreneurship as taking up new initiatives and organizing businesses. Key points made include:
- Entrepreneurs are innovative, willing to take risks and work hard. They are highly optimistic and independent.
- Common characteristics of entrepreneurs are a desire for achievement, adaptability, foresight and being a good organizer.
- Entrepreneurship in agriculture (agripreneurship) provides opportunities in areas like organic farming, food processing, floriculture and production of agro-inputs.
- Entrepreneurs differ from managers and leaders in that they create new opportunities and innovations, rather than maintaining or developing existing
Hindustan Unilever Limited (HUL) is India's largest consumer goods company based in Mumbai. It is a subsidiary of British-Dutch company Unilever, which controls 52% of HUL. HUL manufactures and distributes foods, beverages, cleaning agents and personal care products. It has over 16,500 employees and distributes products to over 2 million retail outlets across India. Two out of three Indians use HUL products according to market research. HUL owns many major Indian brands in food, homecare, and personal care categories.
Hindustan Unilever Limited (HUL) is India's largest consumer goods company. It offers many household brands like Dove, Lifebuoy, Lipton, Lux, and Pond's. The document analyzes HUL's product lines, market share compared to competitors, financial performance from 1998-2007, and future opportunities in India's growing consumer goods market. It finds that while HUL faces competition, opportunities for growth exist as India's per capita income and population rise, driving demand for consumer packaged goods. To strengthen rural distribution, HUL launched Project Shakti to empower women entrepreneurs.
Project on women enterpreneurship in indiaPoorvee Batra
This document discusses women entrepreneurship in India. It provides background on the history and development of women entrepreneurs in India. Specifically, it notes that women are increasingly participating in business ownership and professional careers. It discusses key traits of successful women entrepreneurs in India, including being ambitious and innovative. The document aims to study women entrepreneurship in India and provide suggestions to further support its growth.
Hindustan Unilever Limited (HUL) is the largest fast-moving consumer goods company in India. It was incorporated in 1933 and is headquartered in Mumbai, with over 16,000 employees. HUL is majority owned by Unilever, with brands spanning food, beverages, cleaning agents and personal care. HUL has a wide reach across India, with products used by over two-thirds of Indians and a distribution network of over 6.4 million retail outlets. The company focuses on sustainability and empowering communities through initiatives such as Project Shakti.
Comparative analysis on HUL, ITC and P&GAshish Mathew
This document provides information about three major consumer goods companies in India:
- Procter & Gamble (P&G), Hindustan Unilever Limited (HUL), and ITC Limited. It discusses the founders, vision, mission, organizational structure, product lines, strategies, and current performance of each company. It also includes a comparative table analyzing key metrics like market capitalization, revenue, employees, and share price for all three companies.
The presentation contains Marketing Strategies of Hindustan Lever Limited(HUL) which helped it in becoming India's number 1 in FMCG. It is made as an assignment report in first semester of MBA.
The document outlines two traditional career paths: working for a big company and gaining management experience or working for a well-managed growing firm, as well as two entrepreneurial paths: starting a startup venture and seeking growth or funding from venture capital. It compares the traditional route of working for others versus the entrepreneurial route of being self-employed and growing businesses.
An entrepreneur is defined as someone who sets up a business or enterprise and takes risks in order to achieve profits and growth. They identify opportunities and assemble resources to capitalize on them. Key characteristics of entrepreneurs include a desire for responsibility, risk-taking, confidence, and a future orientation. Entrepreneurship provides employment, distributes wealth more widely, stimulates innovation and economic development. Factors that support entrepreneurship include education, infrastructure, access to financing, and policies that promote and protect new businesses.
Entrepreneurship involves starting new businesses and taking risks to create new products and services. The document discusses entrepreneurs and intrapreneurs, who work within large companies to drive innovation. It also discusses small business owners and the advantages and disadvantages of small businesses compared to large corporations. Key characteristics of successful entrepreneurs are outlined, including traits like creativity, risk-taking, and strong planning skills. The challenges of managing growth and transitioning a business to be more formalized or global are also summarized.
The document provides an overview of entrepreneurship. It defines entrepreneurs as those who organize, manage, and assume the risks of a business. Successful entrepreneurs tend to have certain key personal attributes like a need for achievement, desire for independence, and self-confidence. They also possess good technical skills and strong managerial competencies. Entrepreneurs come in many types based on the business, use of technology, motivation, growth, and development stage. Common traits of successful entrepreneurs include being creative, innovative, and positioning themselves in new markets.
Since you go through life, you have two career decisions. One is called security, or a job, going to work – become employee. The other choice is freedom, or to become an entrepreneur and start your own business. Which part you consider in to?
Unit 1- Introduction to Entrepreneurship (BOCS,BOET-505D).pdfShikhaAeron2
Innovation and Entrepreneurship discusses key concepts like creativity, innovation, and entrepreneurship. Creativity involves generating new ideas while innovation makes existing things better. Entrepreneurship involves taking financial risks to make a profit. The document outlines characteristics of entrepreneurs like risk-taking, leadership, and the ability to recognize opportunities. It also discusses challenges entrepreneurs face such as selecting products/services, developing sales strategies, and managing employees/finances, and provides solutions like market research, clear communication, and goal-setting.
Unit 1- Introduction to Entrepreneurship (BOCS,BOET-505D).pdfShikhaAeron2
Course Content:
Unit I: Introduction to Entrepreneurship: Entrepreneurs; entrepreneurial personality and intentions, characteristics, traits and behavioral; entrepreneurial challenges.
Ratan Tata is recognized as an accomplished entrepreneur who led the Tata Group's acquisition of Corus, creating the world's fifth largest steel company. As the chairman of Tata Sons, he helped expand the company's global presence through strategic acquisitions. Entrepreneurship involves recognizing opportunities, pursuing them through innovation and risk-taking despite limited resources, and having the flexibility and resilience to adapt to challenges. Successful entrepreneurs demonstrate traits like passion, creativity, self-reliance, leadership, and a willingness to take risks.
fundamentals of entrepreneurship
,
what do you mean by entrepreneur/ who is an entrep
,
a brief summary of the entrepreneurial profile
,
10 deadly mistakes of entrepreneurship
,
ways to avoid the pitfalls
,
benefits of entrepreneurship
,
risks of an entrepreneur
,
potential drawbacks of entrepreneurship
,
risks of entrepreneurs
,
forces for building an entrepreneur
The business is started with the aim of achieving success but success is not always guaranteed. Because business has to go always in uncertainty. A good entrepreneur should be able to forecast such a situation and take appropriate steps to remain away from such uncertainties or to convert uncertainties to certainties. Hence, success or failure in entrepreneurship largely depends on the strength and weakness of the entrepreneur.
The document discusses various topics related to entrepreneurship including innovation, entrepreneurial leadership traits, barriers to entrepreneurship, corporate entrepreneurship, entrepreneurial characteristics, entrepreneurial networks, developing business ideas, and sources of business ideas. It provides information on the importance of innovation in business. It also outlines desirable leadership traits such as giving positive feedback, empowering employees, and being approachable. Barriers discussed include both economic barriers and personal barriers. The document also examines the concept of corporate entrepreneurship and characteristics of successful entrepreneurs such as perseverance, risk-taking ability, and self-confidence.
Entrepreneurship development programme notes Sonam kapil
The document defines an entrepreneur as a person who organizes, manages, and assumes the risk of a business venture to produce goods or services for profit. It lists key responsibilities of an entrepreneur like choosing products, mobilizing resources, and making decisions. Entrepreneurship is defined as the activity of organizing and running an enterprise, and involves creative and innovative activities from starting up to managing an enterprise. The document outlines several characteristics of successful entrepreneurs like a strong drive to succeed, belief in themselves, searching for new ideas, and accepting of criticism.
The document discusses various topics related to entrepreneurship including what entrepreneurs are, their common characteristics, how to plan to become an entrepreneur, challenges of business growth, managing a family business, and corporate intrapreneurship. Specifically, it notes that entrepreneurs notice opportunities and mobilize resources to create new products/services, they often have traits like risk-taking and self-confidence, planning involves considering one's motivations and market research, and growing businesses requires more formal structures while intrapreneurs can foster innovation within companies.
This document discusses various aspects of entrepreneurship including what entrepreneurs are, their common characteristics, how to plan to become an entrepreneur, dealing with business growth pressures, managing a family business, and corporate intrapreneurship. Specifically, it notes that entrepreneurs notice opportunities and mobilize resources to create new products/services, they often have traits like risk-taking and self-confidence, planning involves considering your motivations, market research, and costs, and growing businesses often require more formal structures while intrapreneurs can drive innovation within large companies.
This document discusses various topics related to entrepreneurship including what defines entrepreneurs and intrapreneurs, characteristics of successful entrepreneurs, planning a business, and challenges of business growth and managing family businesses. Key points covered include:
- Entrepreneurs notice opportunities and mobilize resources to create new products/services, while intrapreneurs do this within large companies.
- Common traits of successful entrepreneurs include being original thinkers, risk takers, and having technical skills and strong planning abilities.
- As businesses grow, entrepreneurs often feel pressure to formalize processes to facilitate focus, organization and profits, though this may compromise their entrepreneurial spirit.
- Managing family businesses poses challenges as families and friends can fight, especially over money
1) The document discusses entrepreneurship and defines it as bringing together creative ideas and actions with management skills to create wealth by transforming resources and demand into goods and services.
2) Entrepreneurs take risks to connect and organize factors of production by identifying opportunities and innovations to organize ventures.
3) The characteristics of entrepreneurship include risk-taking, creativity, managing resources, and leadership skills to identify gaps in the market and create economic value.
The document discusses various topics related to entrepreneurship including what entrepreneurs and intrapreneurs are, characteristics of successful entrepreneurs, planning a business, managing growth pressures and family businesses, and fostering intrapreneurship within large companies. It provides definitions and comparisons between entrepreneurs and intrapreneurs, and lists common traits of successful entrepreneurs such as being innovative, risk-taking, and good managers. It also outlines factors to consider when planning a business like motivations, market research, and costs.
The document discusses various topics related to entrepreneurship including what entrepreneurs and intrapreneurs are, characteristics of successful entrepreneurs, planning a business, managing growth pressures and family businesses, and fostering intrapreneurship within companies. It provides definitions and comparisons between entrepreneurs and intrapreneurs, and lists common traits of successful entrepreneurs such as being innovative, risk-taking, and good managers. It also outlines factors to consider when planning a business like motivations, market research, and costs.
2. French economist Jean Baptiste say described
an entrepreneur as one who shifts economic
resources out of an area of lower and into an
area of higher productivity and yield
3. Phelps : entrepreneurship is lucrative
Yunus : The simple yet revolutionary idea of
loaning tiny sums to poor people to start a
business
4. Based on the research which was done by
University of Louisiana said that Opportunity
and Change are the two issues most
important to be an entrepreneur.
5. Innovation
◦ Thomas Edison
◦ Intel founder Gordon Moore
◦ Steve Job
Formation of new Industries :
◦ as Joseph Schumpeter observed that the key to the
entrepreneurial renewal comes from the
competition from the new commodity, the new
technology, the new source of supply, the new type
of organization
6. Example :
◦ Skype developed by Niklas Zennstrom and Janus
Friis from Denmark
◦ Cellular One in Eastern Massachusetts lack in size
, financial but has the right strategy by opening
service center outside the downtown area Vs NYNEX
◦ Rapid creation of large market : Jet Blue, Air Asia
7. Entrepreneurship is the new paradigm :
entrepreneurial thinking and reasoning
Entrepreneurship has spawned a new
education paradigm for learning and teaching
Entrepreneurship education is becoming
dominant management model for running
nonprofit organization and social ventures
Entrepreneurship education is transcending
rapidly business school :
engineering, science,
8. 1. Entrepreneurship is the new paradigm
Ex : Marion Kaufman Three principle
a) Values and principle based management
b) Responsibility to community
c) Ethical highground
9. The use of Internet
The European Union‟s plan to make EU the
most competitive Economy include :
1. Fuelling Entrepreneur mindset
2. Encouraging more people to become
entrepreneur
3. Gearing entrepreneur for growth and
competitiveness
4. Improving the flow of finance
5. Creating a more entrepreneurial friendly
regulatory and administrative framework
10. 1994 – 1998 created 5 mill jobs in the US
Microsoft established in the late i970s in
1980 workforce 38 employees with sales $8
mill, by the end of 2004 sales were $21.8 mill
with 31000 employees.
11. Common characteristic of successful
entrepreneurs is their commitment to social
issues
13. Internally :
◦ Motivated
◦ High energy leader
◦ Unique tolerance for ambiguity
The mind is both influenced by and
influences the
psychological, physical, emotional, spiritual
elements of entrepreneur
14. Treat Others as you would want to be treated
Share the wealth that is created with all those
who have contributed to it at all levels
Give back to the community
15. Philanthropy is good for business
Take philanthropy to the factory floor
Link it to your client base
Cast the charity net wide
Manage charity work on a professional basis
Decide charity priorities in advance
16. Understood the importance of well treated
workforce
Shares in the company were offered to staff
17. A single psychological model of
entrepreneurship :
◦ Success of a new venture will depend upon talent
and behavior of the team or lead entrepreneur
◦ Consider recent research said that leadership is an
extraordinary complex subject, depending on the
interconnections among the leader, the task, the
situation, and those being led than inborn or
inherited characteristics
18. The need of achievement
The need of power
The need of affiliation
A study of 118 entrepreneur revealed that
those who like to plan are much more likely
to survive
19. Fundamentals of an entrepreneur in seizing
opportunity:
1. Responsiveness
2. Resilience
3. Adaptability
20. When assessing critical choices:
◦ Gut reaction
◦ Intuition
Similarly when faced with crippling business
◦ Regain their faith to win at the same time calmly
consider options
21. The ability to respond positively to challenges
Personal initiative
Great perseverance and determination
Listening to gut feeling or intuition
22. People : a broad view of entrepreneurship as a
form of human action, pulling together the current
state of the art in academic research with respect
to cognitive, economic, social and institution which
influence entrepreneurial behavior
Process : which follows
Idea, opportunity, team building, resource
acquisition, managing growth and entering global
market
Place refers to a wide and diverse range of
contextual factors
23. Commitment and determination
Courage
Leadership
Opportunity obsession => Obsessed first
with opportunity then money
Tolerance of risk, ambiguity, and uncertainty
Creativity, self reliance, and adaptability
Motivation to excel
Intuitive
24. Tenacious and decisive
Intensely competitive in achieving goals
Persistent in solving problems
Willing to undertake personal sacrifice
Immersed In the mission
25. Moral strength
Fearless experimentation
Not afraid of conflicts, failure
Intense curiosity in the face of risk
26. Self starter; high standard but not
perfectionist
Team builder and hero maker; inspire others
Treats others as you want to be treated
Shares the wealth with people who helped
create it
Superior learner
Patient and urgent
Work by Dr.Allan Grant : lead
entrepreneur, venture team, external
environment influences
27. Leadership in shaping the opportunity
Has knowledge of customer‟s needs
Market driven
Believe in themselves
28. Lead entrepreneur
◦ Self concept
◦ Intellectually honest = admits when he doesn‟t
know
◦ Pace maker =Displays a high energy and a sense of
urgency
◦ Courage = capable of making hard decision
◦ Communication skills = Maintains an effective
dialogue
◦ Team player = Competent in people Management
and team building skills
29. The venture team
◦ Organizational style
◦ Ethical behavior
◦ Faithfulness
◦ Focus
◦ Performance / reward = fairly and equally
◦ Adaptability
30. External environmental influences
◦ Constituent needs= Organization‟s needs are
satisfied
◦ Prior experience
◦ Mentoring
◦ Problem resolution
◦ Value creation
◦ Skill emphasis
31. Obsessed with value creation and
enhancement
Calculated risk taker
Risk minimizer
Risk sharer
Manages paradox and contradictions
Tolerates uncertainty and lack of structure
Tolerate stress and conflict
Able to resolve problem and integrate
solution
32. Open minded
Restless with status quo
Able to adapt
Quick learner
No fear of failure
Able to conceptualize and details
33. Goal and result oriented
Drive to achieve goals and grow
Low need for status and power
Interpersonally supporting not competing
Aware of weakness and strength
Has perspective and sense of humor
34. Passionately committed
Detects meaningful patterns
Thinks holistically
Senses gut type feelings
Processes non local information
35. The lead entrepreneur
The venture team
The external environment influences
Successful Entrepreneur :
1. They know when to use logic and when to
persuade
2. Interpersonally supporting not competing
36. Self concept
Intellectuality honest
Pace maker
Courage
Communication skills
Team Player
38. Constituent needs
Prior experience
Mentoring
Problem resolution
Value creation
Skill emphasis
39. High
INVENTOR ENTREPRENEUR
Creativity
and
Innovation
Promoter Manager,
Administrator
Low
High
General management skills, business knowhow and networks
40. Shaping and Managing an apprenticeship
◦ They have all 10 years of experience
◦ Built contacts
◦ Garnered the know how
◦ Established a track record in the industry
◦ Knowledge of customers
◦ Distribution channels
◦ The more successful ones have made money for
their employer before doing it themselves
◦ Adaptive and resilience
◦ Not afraid of failing
◦ Learn from failure experience
41. MOTIVATION TO EXCELL
◦ Successful entrepreneur are motivated to excel
◦ Have a low need for status and power
◦ Setting high but attainable goals
◦ Insist on the highest standards of integrity and
reliability ( the do what they say)
◦ They believe they personally can affect the
outcome( they don‟t believe in luck, fate)
◦ Self confidence and desire to take personal
responsibility
42. INTUITION IN DECISION MAKING
◦ Entrepreneur rely on intuitive abilities than rational
analytic when identifying new business opportunity
◦ Intuition is the ability of an individual to access
their subconscious mind
43. The role of experience and know how is the
central in successful venture creation
Most successful entrepreneurs follows a
pattern of apprenticeship where they prepare
for becoming entrepreneurs by gaining the
relevant business experiences from parents
who are self employed
44. Numerous studies show a strong connection
between the presence of role models and the
emergence of entrepreneurs.
45. Studies have indicated that 90 per cent or
more founders start their companies in the
same market place technology or industry
they have been working in.
46. 1. Entrepreneur are born, not made
2. Entrepreneurs are gamblers
3. Entrepreneurs want the whole show to
themselves
4. Entrepreneurs work longer and harder than
managers in big companies
5. Entrepreneurs experience a great deal of
stress and pay a high price
6. Money is the most important startup
ingredients
47. Leadership skills
Interpersonal skills
Team Building
Creativity and ingenuity
Motivation
Learning skills
Persistence and determination
Values, Ethics, honesty
Goal setting orientation
Self Discipline
Sense of humor
48. Do what gives you energy
Figure out what can go right and make it
Say” can do” rather than” cannot” or maybe
The cup is half full not half empty
Making money is more fun than spending it
Accept responsibility
Never give up
Make heroes out of others a team builds a
business, individual makes a living
49. Profiling the present
Entrepreneurial attitude & behavior
Various role demands result from pursuit of
opportunities
Getting constructive feedback
◦ From those who can be trusted
◦ Feedback Should be actionable
◦ Need to be honest
◦ Answering, debating and rationalizing should be
avoided
◦ Reaching final conclusion or decisions needs to be
left later time
50. Putting it all together
◦ The process is cumulative , and what an
entrepreneur does about weakness,
52. Entrepreneurship is a way of
thinking, reasoning, and acting that is
opportunity obsessed, holistic in
approach, and leadership balanced for the
purpose of value creation and capture
Today entrepreneurship has evolved beyond
the classic start up notion to include
companies and organizations of all types, in
all stages
53. An innovative idea that develops into a high
growth company
Success in addition to the strong leadership
of the main entrepreneur
Involves building team and complementary
talents
Requires skill to control resources
Most highly successful entrepreneurs have
held together a team and acquired financial
Backing in order to chase opportunity others
may not see
55. Leaders : set aspirations and continually work
at success
Giant firms tend to be hierarchical in
structure, with many layers of review,
approvals and vetoes managing and
administering from Top to Bottom
56. Improvisational, quick, clever, resourceful, an
d inventive all describe good entrepreneur
57. An opportunity with no or very low potential
can be an enormously big opportunity
◦ Steve Job and Steve Wozniak Personal Computer
To make money you have to first loose
money
To create and build wealth one must
relinquish wealth
To success one first has to experience failure
Entrepreneurship requires considerable
thought, preparation, and planning
58. For creativity and innovativeness to prosper
discipline must accompany the process
Entrepreneurship requires a bias toward
action and a sense of urgency, but also
demands patience and perseverance.
59. Remember, entrepreneurship
Is a full contact sport. The
value comes in the collision
Spontaneity
DOLLARS Discipline,
Opportunism
processes
60. THINK BIG ENOUGH = the biggest mistakes
aspiring entrepreneurs make is strategic
As one founder of numerous business put it
= unless the business can pay you at least
fives times your present salary
Arthur Rock => said that opportunity simply :
look for business concepts that will change
the way people live or work
61. Failure rates are high
Failure occur in the first two to five years
70% of failure is in the areas of retail
trade, construction, and small service
business
62. Most smaller enterprises that cease
operation simply do not meet our notion of
entrepreneurship, they do no create, or
pursue opportunities that realize value
63. Who are the survivors?
Higher level of success change dramatically if
the venture reaches a critical mass of at least
10 to 20 people with $2 million to $3 million
revenue
64. Driving process dominate entrepreneurial
process:
1. It is opportunity driven
2. It is driven by a lead entrepreneur and an
entrepreneurial team
3. It is resource parsimonious and creative
4. It depends on the fit and balance among these
5. It is integrated and holistic
6. It is sustainable
65. Opportunity
Strategy
Network
Team or business plan
66. Communication
OPPOR RESOUR
CES
TUNITY
Business plan
LEADERSHIP
CREATIVITY
TEAM
67. We build our understanding of opportunity by first
focusing on market readiness:
1.The consumer trend
2. Behavior
That seek new products or services
68. Thinking money first is a big mistake
Successful entrepreneurs devise ingeniously
creative and stingy strategies to gain control
of resources
69. Team is a key ingredient in the higher
potential team
1. Entrepreneur leader
◦ Learns and teaches – faster, better
◦ Deals with adversity, is resilient
◦ Exhibit integrity, dependability, honesty
◦ Builds entrepreneurial culture organization
2. Quality of the team
70. 2. Quality of the team
◦ Relevant experience and track record
◦ Motivation to excel
◦ Commitment, determination and persistence
◦ Tolerance of risk, ambiguity and uncertainty
◦ Team locus of control
◦ Adaptability
◦ Opportunity obsession
◦ Leadership and courage
◦ communication
71. Building a sustainable venture means
achieving economic , environmental and
social without compromising the same
opportunity for future generations
72. THE OPPORTUNITY :
CREATING, SHAPING, RECOGNISING, SEIZING
73. Think big enough
◦ Idea : is basically a neuron interaction in the brain
◦ Opportunity :
They create or add value to end user
They do by solving a significant problem, meeting
significant want
They have robust market
They are a good fit with the founder(s) and
management team at the time and marketplace – along
with an attractive risk – reward balance
74. To summarize : A superior opportunity has
the qualities of being attractive , durable and
timely and is anchored in a product or service
that creates or adds value for its buyer or end
user.
75. Regulatory changes
Reconstruction of value chain and channel of
distribution
Existing management = new capital structure
Entrepreneurial leadership = new vision and
strategy
Market leaders are customer obsessed or
customer blind
76. Higher potential business
◦ Can identify a market niche for a product to satisfy
customer‟s needs
◦ Serves as problem solver for which customers are
willing to pay
◦ The potential payback period is one year or less
Lower potential opportunities :
◦ Unfocussed on customers‟ needs
◦ Customers are unreachable/ other loyalties to
others
◦ Payback period more than three years
◦ Low value added
77. Market structure :
◦ A fragmented, imperfect market or emerging
industry often contains vacuum that create unfilled
market niche
Market Size
Growth rate= an attractive market is large
and growing
Market capacity
Market share attainable
Cost structure= a firm that can become the
low cost provider is attractive
78. Profit after tax : High and durable gross
margins usually translate into strong and
durable after tax profits
BEP = Break even and positive cash flow are
possible within two years
ROI Potential = Very attractive opportunities
have the potential to yield a return on
investment of 25 % or more per year
Capital requirements : Venture that can be
funded at low and moderate capital are
attractive
79. IRR (Internal Rate of return) = of 25% in 5 to
years is considered very healthy
Gross margin
80. Value added potential such as technology
Valuation multiples
Exit mechanism strategy
Capital market context : the context in which
the sale or acquisition of the company occurs
is largely driven by the capital markets at that
particular time. Timing can be crucial
81. Variable and fixed cost= low cost
attractive
Degree of control strong control over
prices attractive
Entry Barrier being able to gain proprietary
protection, regulatory attractive
82. Entrepreneurial team having a strong team
Industry and technical experience : a
management track record of significant
accomplishment in the industry
Integrity
Intellectual honesty
Fatal flaw issue basically , attractive
ventures have no fatal flaws :an opportunity
is rendered unattractive if it suffers from one
or more fatal flaws
83. Goals and fit : Is there a good match between
the requirements and what the founders want
Upside down issues : an attractive
opportunity does not have excessive
downside risk
Opportunity cost
Desirability
Risk/ reward tolerance
Stress tolerance
84. Degree of fit
Service management
Timing
Technology
Flexibility
Opportunity orientation
Pricing
Distribution channels
Room for error
85. EXISTING BUSINESS
FRANCHISES
PATENTS
PRODUCT LICENSING
CORPORATIONS
NOT FOR PROFIT RESEARCH INSTITUTE
UNIVERSITIES
86. Trade shows and association meetings
Customers
Distributors and whole sellers
Competitors
Former employers
Professional contacts
Consulting
Networking
87. You will need to invest in thorough research
to shape your idea into an opportunity. Data
available about market, competitors and so
on are frequently inversely related to the real
potential of an opportunity
89. Quick screen
1. Focus on a few superior ideas
2. Quickly and efficiently reject ideas
Venture Opportunity Screening Exercise(VOSE)
1. Are designed to segment the screening ideas into
manageable pieces
2. Provide an audit trail of your opportunity - shaping
activity
3. It is important to have realistic view of the
vulnerabilities and realities as well as the opportunity‟s
compelling strength
90. The iterative process of carefully examining
different ideas often :
◦ Trigger creative ideas and insight
◦ How strategy can be altered to enhance the value
chain, risk reward relationship and free cash flow
relationship
91. OPPORTUNIES FOR SOCIAL
ENTREPRENEURSHIP
What is social entrepreneurship :
A movement with a goal to effect positive
social change
92. Venture Mission
Economic Social
Economic
Traditional Social purpose
II I
Primary
Market
Impact
Social
Social Enterprising
consequences non profits
III IV
93. Are founded on the premise that a social
problem will be solved
The venture is for profit
The impact on the market is economic
94. There are two types
1. Utilizes earned income activities
2. Focus on growth and economic
sustainability
95. For Profit – achieving economic goals
For profit – primarily achieving social goals
For profit – equally emphasizing social and
economic goals
Not for profit, serving a social mission
The primary difference between social
entrepreneurship and traditional commercial
views of entrepreneurship is THE INTENDED
MISSION
96. Corporate with CSR practices impact
communities but CSR is not the core
component of their business model, align
best with Social consequence ventures
Starbuck
97. The three major components of Timmons
Model certainly apply to social
entrepreneurship.
Ex : Social opportunities are driven not only
by markets but also mission and social needs.
External stake holders are important
98. Characteristics of wicked problems Characteristics of Tame problems
1. You do not understand the 1.Have well defined and stable
problem until you have developed problem statements
the solution
2. Wicked problems have no 2. Have definite stopping points –
stopping rule when a solution is reached
3.There are no right or wrong 3.Have solution that can be
objectively evaluated as right or
wrong.
4.Every wicked problem is unique 4.Belong to a class of similar
problems that are all solved in a
similar way
5. Every solution to wicked 5.Have solutions that can be easily
problem is one shot operation tried and abandoned.
6. Wicked problems have no given 6. Come with a limited set of
alternative solutions infinite set alternative solutions
99. Resources acquisition is critical to the
success of social ventures, enterprising non
profits and even hybrid forms.
Social venture capital seek to invest in profit
ventures both financial return as well as
environmental return this is also known as
the double bottom line or triple bottom line
100. Social venture capital has three types of
funds :
1. Focused fund : a company invests in
expansion – stage clean
technology, business related to
energy, water
2. Community fund : its purpose is typically
economic development and job creation
3. VC with a conscience : This fund stipulated
that certain percentage will be invested in
socially responsible businesses related to
their target investment area
101. Include : the community, investors, the
government, customers, suppliers, manufactu
rers.
102.
103. Business Plan is more of a process and work
in progress than an end itself.
The Business plan is blueprint and flight plan
for a journey that converts ideas into
opportunities, articulate and the likely flight
and timing for a venture.
104. the numbers in a business plan do not
matter, but the economics of the business
model value proposition matter enormously
105. Runs from four to ten pages, essentially
covers analysis of and information about the
heart of the business
opportunity, competitive advantages the
company will enjoy and creative insights that
entrepreneur often has.
106. Entrepreneur himself is recommended to
write the business plan itself because it
involves the consequences of
strategy, tactics, the human and financial
requirements for launching and building the
venture.
107. Business plan – a written summary of:
◦ An entrepreneur‟s proposed business venture
◦ Its operational and financial details
◦ Its marketing opportunities and strategy
◦ Its managers‟ skills and abilities
It serves two essential functions:
◦ Guiding the company by charting its future course
and defining its strategy for following it
◦ Attracting lenders and investors who will provide
needed capital
108. Purposes of a Business
Plan
Development tool for organizational founders
Vision and mission clarification
Planning and evaluation guidelines
Tool for securing financial resources
Tool for guiding growth
109. Although building a plan does not
guarantee success, it does increase
your chances of succeeding in
business.
A plan is like a road map that
serves as a guide on a journey
through unfamiliar, harsh, and
dangerous territory. Don‟t attempt
the trip without a map!
110. Executive Summary
Mission Statement
Company History
Business and Industry Profile
Business Strategy
Description of Products/Services
111. (continued)
Marketing Strategy
Competitor Analysis
Description of Management
Team
Plan of Operation
Forecasted Financial
Statements
Loan or Investment Proposal
112. Remember: No one can create your plan for
you.
Potential lenders want to see financial
projections, but they are more interested in
the strategies for reaching those projections.
Show how you plan to set your business apart
from competitors; don't fall into the “me too”
trap.
Identify your target market, and offer
evidence that customers for your product or
service exist.
113. (continued)
Make sure your plan has an attractive
cover. (First impressions are crucial.)
Rid your plan of all spelling and
grammatical errors.
Make your plan visually appealing.
Include a table of contents to allow
readers to navigate your plan easily.
Make it interesting.
114. (continued)
Your plan must prove that the business
will make money (not necessarily
immediately, but eventually).
Use spreadsheets to generate financial
forecasts.
Always include cash flow projections.
Keep your plan “crisp” – between 25 and
50 pages long.
Tell the truth – always.
115. Feature – a descriptive fact about a product
or service (“an ergonomically designed, more
comfortable handle”).
Benefit – what a customer gains from the
product or service feature (“fewer problems
with carpal tunnel syndrome and increased
productivity”).
116. The Reality Test - proving that:
◦ a market really does exist for your product or
service.
◦ you can actually build or provide it for the cost
estimates in the plan.
The Competitive Test - evaluates:
◦ a company‟s position relative to its customers.
◦ management‟s ability to create a company that will
gain an edge over its rivals.
The Value Test – proving that:
◦ a venture offers investors or lenders an attractive
rate of return or a high probability of repayment.
117. Demonstrate enthusiasm, but don‟t be
overemotional.
Know your audience thoroughly.
“Hook” investors quickly with an up-front
explanation of the venture, its
opportunities, and its benefits to them.
Hit the highlights; focus on the details
later.
Keep your presentation simple – 2 or 3
major points.
118. (continued)
Avoid overloading your audience with
technological jargon.
Use visual aids.
Close by reinforcing the nature of the
opportunity.
Be prepared (with details) for potential
investors‟ questions.
Follow up with every investor to whom
you make your presentation.
119. Writing a Successful
Business Plan
10 Characteristics:
1. Clear, realistic financial projections
2. Detailed market research
3. Detailed competitor research
4. Descriptions of key decision makers
5. Thorough summary
6. Proof of vision
7. Good formatting and clear writing
8. Brief and concise
9. Writing that demonstrates the importance of the bottom line
10. A plan that captures “you”
121. Cash
Liquidity and timing
Unavoidable conflicts between users and
suppliers of capital
WHAT IS BUSINESS WORTH ?
◦ A=OE +L
122. Cash
Time
Risk
PSYCHOLOGICAL FACTORS DETERMINING
VALUE
◦ P/E Ratio can be thought as the number of years
that it will take the company to accumulate
sufficient profit to earn back the price of its share
123. In reviewing a range of investment
options, most investors will choose the one
that provides the greatest return, with the
lower risk, in the shortest time.
124. Exit value
Expectation of future
Time Horizon
Tolerances for risk
125. Investors expectation as an annual
percentage. It reflects the perceived risk of
the investment
126. 1. DISCOUNTED CASH FLOW defines as the
value of the company as simply the present
value of its future earning
2. THE VENTURE CAPITAL METHOD concerns of
the cash flow received at the exit
The expected price of the venture at time of exit
The amount of time until the exit
The discount rate to be applied
3. INVESTOR‟S REQUIRED OF OWNERSHIP
Investor‟s required share = Amount invested: total
present value
127. 4. THE FIRST CHICAGO METHOD usually focus
on later stage (growth equity, consolidation
and leveraged buyout)
5. OTHER RULE OF THUMB VALUATION
METHODS EBIT, EBITDA
6. OWNERSHIP DILUTION
128. Under this approach early stage ventures are
grouped by the stage of development
1. Pre – seed
2. Seed
3. First institutional round (C) round intended
to fund the development of the structure
and processes expected of a public
company
129. THE DOWN (CRAM DOWN) those ventures
that are able to secure funding tend to find
that valuations have declined precipitously
sometimes become uneconomic for
shareholders
130. DIFFERENT PERCEPTION between
entrepreneur and investor in length of time of
financing
STAGED CAPITAL COMMITMENTS
Increase capital dilute management‟s equity
Enable venture capital firms to control/ shut down
operations
131. SPECIFIC ISSUES
◦ Right of first refusal
◦ Ratchet anti dilution protection
◦ Washout financing
◦ Forced buyout
◦ Demand registration rights
◦ Key person insurance
132. Strategic Circumference
Legal circumference
Attraction to status and size
Unknown territory
Opportunity cost
Underestimation of other costs
Greed
The fundraising treadmill
Being too anxious
Impatience
Make the money and run myopia
134. Tran generational entrepreneurship and
wealth creation : families who are
enterprising generate economic activity and
build long term value across generation
In Australia family firms comprise two – third
of the small and medium sector
135. 1. Family – influenced startups> who formally
launches a new business with family
2. Family corporate venturing >family holding
business that have formal new venture
creation, strategies, plans, departments, or
capabilities.
3. Family corporate renewal > focus on
creating new streams of value through
innovation, transformational change
activities.
136. 4. Family private cash >start up money from
family member or business with a formal
written agreement for market based ROI and
or repayment.
5. Family investment fund >Stand alone
professional private equity or venture
capital controlled by family and/or using
family generated capital
137. Develop communication skills
Make sure to have the same view of future of
working together / common goals
139. Distinctive familiness or „f+‟ refers to when
these families resources and capabilities f+
lead to a competitive advantage for the family
Constrictive familiness or „f-‟ refers to when
they constraint the competitive enterprising
ability of the family