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
Entrepreneurs are people that notice opportunities and take the initiative to mobilize resources to make new goods and services. Entrepreneurs are people that notice opportunities and take the initiative to mobilize resources to make new goods and services.
Entrepreneurs are people that notice opportunities and take the initiative to mobilize resources to make new goods and services. Entrepreneurs are people that notice opportunities and take the initiative to mobilize resources to make new goods and services.
Introduction to entreprenershipunit i to vanandmohandass
Introduction, Meaning Characteristics, Factors, Functions, Types, Challenges, Women Entrepreneurship, MSMEs, Business Plan & Model, Feasibility analysis, etc..
Entrepreneurial Management (EM 01) - EntrepreneurshipSuhas Dutta
This deck covers the definition of Entrepreneurship and what is means according to various thinkers, and what implications it might have. This is the second deck.
Part of the course on Entrepreneurial Management that I taught at Bangalore University last Spring (2014).
Introduction to entreprenershipunit i to vanandmohandass
Introduction, Meaning Characteristics, Factors, Functions, Types, Challenges, Women Entrepreneurship, MSMEs, Business Plan & Model, Feasibility analysis, etc..
Entrepreneurial Management (EM 01) - EntrepreneurshipSuhas Dutta
This deck covers the definition of Entrepreneurship and what is means according to various thinkers, and what implications it might have. This is the second deck.
Part of the course on Entrepreneurial Management that I taught at Bangalore University last Spring (2014).
Definition of an Entrepreneur
Role of the Entrepreneur
The Entrepreneur
Entrepreneur as an Economic Pioneer
Entrepreneurs V. Intrapreneurs
Reasons for Growth of Entrepreneurship
Intrapreneurship
Traits of Entrepreneurs
Characteristics of Entrepreneurs
Key Personal Attributes
Technical Proficiency
Planning
Motivations
Lifestyle Venture
Smaller Profit Venture
High Growth Ventures
Start or Buy?
The Market
What about the cost
Domestic or Global
Entrepreneurship: Growth Pressures
Formal Organization
Entrepreneurship Organization
Managing a Family Business
Corporate INTRA-preneurs
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?
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
What do you know about Entrepreneurship - Brittany Killinsbrittanykillins
Brittany Killins explains here about Entrepreneurship and its importance for society. It is very useful for us to build a better world for the next generations.
‘Let me tell you about the importance of Entrepreneurialism, and how vital it is to your success’ says Stephen Taylor, casually sipping on what just might be the world’s largest cup of coffee
The benefits of entrepreneurship extend beyond the businesses they establish. Entrepreneurs improve the lives of individuals and communities, as well as the overall economy. Entrepreneurs have been instrumental in spurring social change and improving the way people live and work. They help raise the standard of living for everyone by creating jobs and making products safer, less expensive, and more functional.
Entrepreneur, Entrepreneurship, Characters of entrepreneur.
Entrepreneurship generally involves creating a start-up firm that offers innovative goods, services, or processes
why an individual who wishes to start a business should be motivated?
Some Characteristics
Of an
Entrepreneurship
are discussed
thoroughly ………
Entrepreneurs: born or made?
Whether you’re a C-suite pro at a large company with hundreds of workers or you’re the founder of a startup that has only a few employees, you can benefit from thinking like an entrepreneur.
While some believe that entrepreneurs are born rather than made, anyone can at least learn some of the characteristics that make entrepreneurs what they are. There is no single definition of what an entrepreneur actually is, but the term usually refers to someone who, among other things, spearheads a venture, makes decisions on how to proceed, secures the capital needed to make the venture a reality, and shoulders most or all of the associated risk.
In order to think like an entrepreneur, you need to have or develop the characteristics of an entrepreneur. Read on to find out about entrepreneurial skills that will help you in the workplace.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
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US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
2. Overview
What is an entrepreneur?
Characteristics of an entrepreneur
Planning to be an entrepreneur
Growth pressures, managing a family
business, and corporate
intrapreneurship
3. Entrepreneurs V.
Intrapreneurs
Entrepreneurs are people that notice
opportunities and take the initiative to
mobilize resources to make new goods and
services.
Intrapreneurs also notice opportunities and
take initiative to mobilize resources, however
they work in large companies and contribute
to the innovation of the firm.
Intrapreneurs often become entrepreneurs.
4. Intrapreneurship
Learning organizations encourage intrapreneurship.
Organizations want to form:
Product Champions: people who take ownership of a
product from concept to market.
Skunkworks: a group of intrapreneurs kept separate from
the rest of the organization.
New Venture Division: allows a division to act as its own
smaller company.
Rewards for Innovation: link innovation by workers to
valued rewards.
5. Small Business Owners
Small business owners are people who
own a major equity stake in a company
with fewer than 500 employees.
In 1997 there were 22.56 million small
business in the United States.
47% of people are employed by a small
business.
6. Employee Satisfaction
In companies with less than 50 employees,
44% were satisfied.
In companies with 50-999 employees, 31%
are satisfied.
Business with more than 1000, only 28% are
satisfied.
8. Advantages of a Small
Business
Greater Opportunity
to get rich through
stock options
Feel more important
Feel more secure
Comfort Level
9. Disadvantages of a Small
Business
Lower guaranteed pay
Fewer benefits
Expected to have many skills
Too much cohesion
Hard to move to a big company
Large fluctuations in income possible
10. Who are entrepreneurs?
Common traits
Original thinkers
Risk takers
Take responsibility
for own actions
Feel competent and
capable
Set high goals and
enjoy working toward
them
Common traits
Self employed parents
Firstborns
Between 30-50 years old
Well educated – 80%
have college degree and
1/3 have a graduate level
degree
11. Successful and Unsuccessful
Entrepreneurs
Successful
Creative and
Innovative
Position themselves
in shifting or new
markets
Create new products
Create new
processes
Create new delivery
Unsuccessful
Poor Managers
Low work ethic
Inefficient
Failure to plan and
prepare
Poor money
managers
13. Key Personal Attributes
Entrepreneurs are Made, Not Born!
Many of these key attributes are developed early
in life, with the family environment playing an
important role
Entrepreneurs tend to have had self employed
parents who tend to support and encourage
independence, achievement, and responsibility
Firstborns tend to have more entrepreneurial
attributes because they receive more attention,
have to forge their own way, thus creating higher
self-confidence
14. Key Personal Attributes (cont.)
Entrepreneurial Careers
The idea that entrepreneurial success leads to
more entrepreneurial activity may explain why
many entrepreneurs start multiple companies over
the course of their career
Corridor Principle- Using one business to start or
acquire others and then repeating the process
Serial Entrepreneurs- A person who founds and
operates multiple companies during one career
15. Key Personal Attributes (cont.)
Need for Achievement
A person’s desire either for excellence or to
succeed in competitive situations
High achievers take responsibility for attaining
their goals, set moderately difficult goals, and want
immediate feedback on their performance
Success is measured in terms of what those
efforts have accomplished
McClelland’s research
16. Key Personal Attributes (cont.)
Desire for Independence
Entrepreneurs often seek independence from
others
As a result, they generally aren’t motivated to
perform well in large, bureaucratic organizations
Entrepreneurs have internal drive, are confident in
their own abilities, and possess a great deal of
self-respect
17. Key Personal Attributes (cont.)
Self-Confidence
Because of the high risks involved in running an
entrepreneurial organization, having an “upbeat”
and self-confident attitude is essential
A successful track record leads to improved self-
confidence and self-esteem
Self-confidence enables that person to be
optimistic in representing the firm to employees
and customers alike
18. Key Personal Attributes (cont.)
Self-Sacrifice
Essential
Nothing worth having is free
Success has a high price, and entrepreneurs have
to be willing to sacrifice certain things
19. Technical Proficiency
Many entrepreneurs demonstrate strong technical
skills, typically bringing some related experience to
their business ventures
For example, successful car dealers usually have lots
of technical knowledge about selling and servicing
automobiles before opening their dealerships
Especially important in the computer industry
NOT ALWAYS NECESSARY
20. Planning
Business Plan – A step-by-step outline
of how an entrepreneur or the owner of
an enterprise expects to turn ideas into
reality.
21. Questions To Keep In Mind
What are my motivations for owning a business?
Should I start or buy a business?
What and where is the market for what I want to sell?
How much will all this cost me?
Should my company be domestic or global?
22. Motivations
Deciding what your motivations are
will direct you toward what type of
business fits you best.
Types:
1. Lifestyle Venture
2. Smaller Profit Venture
3. High Growth Venture
23. 1. Lifestyle Venture
Small company that provides its owner
independence, autonomy, and control.
Is often run out of household
Provides flexibility (hours, meeting
places, attire)
Aligns your personal interests and
hobbies with your desire to make a
profit.
24. 2. Smaller Profit Venture
Small company not concentrated on
pushing the envelope and growing
inordinately large.
Making millions of dollars not important.
Content with making a decent living.
Ex. Mom and Pop Stores
25. 3. High Growth Ventures
Goal is maximum profit and growth.
Concentrated on pushing envelope and
growing as large as possible.
Focus on innovation
26. Start or Buy?
Start – cheapest, but very difficult
-requires most planning/research
Buy – expensive – may be out or reach
-requires less planning and research
Franchise (middle ground) – a business
run by an individual (the franchisee) to
whom a franchiser grants the right to
market a certain good or service.
27. The Market???
Planning & Research essential
Extensive market surveys (family,
friends, neighbors…)
Magazines and Polls offer some
information on the market
-Businessweek, Harris Poll
28. What about the cost?
Plan realistically, not optimistically
Don’t overestimate your profits
Don’t underestimate your costs
Sources of Funds
Banks
Venture Capitalists – filthy rich, high risk investors
looking for a many-times-over yield
Angels – seem to have altruistic motives and less
stringent demands than venture capitalists
29. Domestic or Global?
Drawbacks to Global – more research
and less accessible connections in
startup phase, more travel time
required, more considerations.
Advantages to Global – more human
resources, more demand, more
financing, easier to start global than go
from domestic to global.
30. Entrepreneurship: Growth Pressures
Entrepreneurs often find that as their business grows, they feel
more pressure to use formal methods to lead their
organizations.
Although this formalization process may compromise some
entrepreneurs spirit, it often leads to more focus,
organization, and greater financial returns.
Basically, it’s a movement from a “seat-of-the-pants” operation
to a more structured, legitimate and recognizable business.
31. Entrepreneurship: Growth Pressures
Entrepreneurial and Formal Organizations differ in
six business dimensions:
Strategic orientation
Commitment to opportunity
Commitment to resources
Control of resources
Management structure
Compensation policy
32. Entrepreneurship: Growth Pressures
Business
Dimension
Entrepreneurial
Organization
Formal
Organization
Strategic orientation Seeks opportunity Controls resources
Commitment to
opportunity
Revolutionary
Short duration
Evolutionary
Long duration
Commitment to
resources
(capital, people, and
equipment)
Lack of stable needs
and resource bases
Systematic planning
systems
Control of resources Lack of commitment to
permanent ventures
Power, status, financial
rewards for maintaining
status quo
Management Structure Flat
Many informal networks
Clearly defined authority
and responsibility
Compensation policy Unlimited; based on
team’s
accomplishments
Short-term driven;
limited by investors
33. Entrepreneurship: Growth Pressures
Going Global….
From domestic to worldwide expansion, globalization can be
extremely rewarding for entrepreneurs.
THINK: Money and Business Exposure
However, it is a huge undertaking. Adapting your business to
operate in the global market can lead to a decrease in
ownership, and a forced focus on raising money to keep your
business alive.
THINK: Selling out, Private to Public (Initial Public Offering,
IPO)
34. Entrepreneurship: Managing a Family Business
Over 50% of the U.S. Gross Domestic Product (GDP) is
generated from family business.
12% of CEOs on the Inc. 500 list describe their company as a
family business.
So, why not dream up a plan and
go into business with your family or
friends?
35. Entrepreneurship: Managing a Family Business
Two reasons not to go into business with your family or friends.
…
Families fight
Friends fight.
Often, it involves money. So a business environment could
potentially breed arguments, disagreements, and feuds.
Fighting can occur during early developmental stages when
hours are long and pay is low. Or, after success has been
achieved.
36. Entrepreneurship: Managing a Family Business
Six steps to help lead you to a successful Family Business:
Clear job responsibilities
Clear hiring criteria
Clear plan for management transition
Agreement on whether and when to sell business
Commitment to resolving conflicts quickly
Outside advisors are used to mediate conflicts.
Clarity is key…. but NO GUARANTEE.
37. Entrepreneurship: Managing a Family Business
Operational vs. Survival Issues….
Operational = Decisions about the economics of the business
and how to balance that with rational and family obligation
criteria.
THINK: Day-to-day grind.
Survival = Develop out of a lack of attention on the operational
issues within the business.
THINK: Festering problems; ultimately compromise livelihood.
38. Entrepreneurship: Managing a Family Business
FAMILY FEUD:
Severed
relationships
Divorce Poor business
performance
Low morale,
motivation
39. Entrepreneurship: Corporate INTRA-preneurs
Intrapreneur = someone in an existing organization who
turns new ideas into profitable realities.
Not every employee has the ability to become a successful
intrapreneur. It takes well-developed strategic action, teamwork
and communication abilities.
40. Entrepreneurship: Corporate INTRA-preneurs
Organizations that redirect themselves through innovation have
the following characteristics:
Commitment from senior management
Flexible organization design
Autonomy of the venture team
Competent/Talented people with entrepreneurial
attitudes
Incentives and rewards for risk taking
Appropriately designed control system
41. Entrepreneurship: Corporate INTRA-preneurs
In order to for this type of forward thinking to reap long-term
benefits, top management must allow it to flourish in the day-to-
day operations of the business….
This is known as “skunkworks”
Skunkworks = Islands of intrapreneurial activity within an
organization.
REMEMBER: On the island, formal rules and policies of the
organization often DO NOT apply.
42. One More Time
What is an entrepreneur?
Characteristics of an entrepreneur
Planning to be an entrepreneur
Growth pressures, managing a family
business, and corporate
intrapreneurship