This document provides an overview of entrepreneurship and starting a business. It defines entrepreneurs as individuals who take on the risk of operating a business with uncertainty about the future. Entrepreneurship is developing, organizing, and running a new business to generate profit while taking financial risk. The document outlines the importance of entrepreneurship for computer science and IT students, characteristics of successful entrepreneurs, functions of an entrepreneur in starting a business, sources of business ideas, analyzing potential markets, and advantages and limitations of entrepreneurship.

1. HUM 406 – STARTING A BUSINESS
Module 1- Fundamentals of Entrepreneurship

3. “An individual who bears the risk
of operating a business in the face
of uncertainty about the future
conditions.”

4. “A person who
organizes, operates,
and assumes the risk
for a business
venture.”

5. “Someone who exercises
initiative by organizing a venture
to take benefit of an
opportunity and as the decision
maker, decides what, how, and
how much of a good or service
will be produced.”

6. ILO’S Definition

7. “Entrepreneurs are those
people who have the ability to
see and evaluate business
opportunities together with the
necessary resources to take
advantage of them and to
initiate appropriate action to
ensure success.”

8. Why as a subject “Entrepreneurship” is important to CS/IT
students?

10. • Low Capital Costs
• Faster to Launch
• Lower Business Risk
• Flexibility and Adaptability

12. •95% of entrepreneurs
that create startups have
at least a bachelor’s
degree.

16. • Characteristics of Entrepreneur: -
• Need for achievement
• Desire for Independence or Autonomy
• Desire for Responsibility
• Risk Taking
• Self Confidence

17. • Characteristics of Entrepreneur: -
• Future Oriented and Optimistic
• Energetic Activity
• Organizing Capacity
• Decision Making

18. Functions of an
Entrepreneur: -

19. Based on approach

20. Entrepreneurship

21. Entrepreneurship is the process
of developing, organizing, and
running a new business to
generate profit while taking on
financial risk.

23. • Business Idea generation

24. • Business Idea generation
• Team Building

25. • Business Idea generation
• Team Building
• Business Plan

26. • Business Idea generation
• Team Building
• Business Plan
• Raising Capital

27. • Business Idea generation
• Team Building
• Business Plan
• Raising Capital
• Launching your Business

28. • Business Idea generation
• Team Building
• Business Plan
• Raising Capital
• Launching your Business
• Growing your Business

29. • Business Idea generation
• Team Building
• Business Plan
• Raising Capital
• Launching your Business
• Growing your Business
• Exit your Business

30. Product / Business ideas

31. Sources of idea Generation

32. Hobby. Complaints. Exhibitions. Experience.
Brainstorming. Surveys.
Mass media
etc…
Sources of idea Generation

33. Potential Market

35. Types of Potential Markets
Potential markets take one of three forms:
•New products you market to your current customers.
•New products you market to new customers.
•Current products you market to new customers.

36. Purchase situation
analysis
• When do people buy our
product or service?
• Is it when they need it?
• Where do people make the
purchase?
• How do they pay?

37. • Direct competitor analysis

38. • Indirect competitor analysis

39. • Complementary product and
service analysis

40. • Diversification analysis

41. • Foreign market
analysis

42. • Environmental analysis

43. • Advantages: -
• Independence
• Life-Style
• Financial Rewards
• Learning Opportunities
• Creative Freedom and Personal Satisfaction

44. • Limitations: -
• Financial risk
• Stress.
• Time commitment.
• Undesirable duties