The document discusses entrepreneurial skills and how they were utilized by successful entrepreneurs. It begins by providing background on Vietjet Air and AirAsia, two low-cost airline companies founded in Vietnam and Malaysia, respectively. It then lists critical skills for entrepreneurs, such as self-motivation, confidence, ethics, time management, sales abilities, and financial literacy. Instruments that can help apply these skills are also examined, like SWOT analysis and marketing mix strategies. The document concludes that the entrepreneurs of Vietjet demonstrated skills through their strategic use of tools to achieve business success and contribute to economic growth in their countries.
Study of the interface between entrepreneurship and the entrepreneurial environment is essential for successful operation of business firms. This presentation talks about the different environmental factors affecting the growth and survival of an enterprise.
Entrepreneurship development & recognizing opportunitiesJubayer Alam Shoikat
Entrepreneurship Development & Recognizing Opportunities. entrepreneurship development & recognizing opportu
,
entrepreneurship development & recognizing opportu
,
innovation and entrepreneurship
,
tactics/ strategies for identifying opportunities
,
identify problems and needs
,
research demographics
,
lifestyles
,
and habits
,
watching trends
,
: social forces
,
economic forces
,
first approach: observing trends
,
cognitive factors
,
social networks
,
creativity
,
full view of the opportunity recognition process
,
third approach: finding gaps in the marketplace
,
second approach: solving a problem
,
establish a personal network
,
entry strategies
,
political action and regulatory changes2 of 2
,
technological advances
,
what is an opportunity?
,
three ways to identify an opportunity
,
brainstorming
,
focus groups
,
library and internet research
,
other techniques
,
creative sources of ideas
,
watch for demographic changes
Entrepreneurial Venture and Its ComponentsOfunre Iriobe
This slide discusses what makes an entrepreneurial venture different from regular businesses, and also highlights the components aspiring entrepreneurs need to pursue.
Environment Of Entrepreneurship Developmentk.shofiq
The document summarizes the business environment for entrepreneurship development in Bangladesh. It identifies several factors that make up the economic, political, legal, socio-cultural, technological, and natural environments. These include the availability of capital, labor, raw materials, technology, and markets. It also discusses how the environment influences entrepreneurship and economic growth. Government policies and stability are important for promoting entrepreneurship in the country.
The document discusses the evolution of entrepreneurship in India through 3 phases: (1) pre-British India when villages were self-sufficient and farmers/artisans thrived, (2) a decline during British rule due to competition and loss of local industries, and (3) post-independence development through policies promoting agriculture, industry, and programs like EDP to support entrepreneurship. It also outlines issues women entrepreneurs face and the role entrepreneurship plays in economic development through job creation and harnessing local resources.
Entrepreneurial Discovery and Environmental ScanningNCVPS
The document discusses how entrepreneurs can use environmental scans and entrepreneurial discovery to plan new businesses by systematically analyzing trends, gaps, and developments in technology, politics, society, and demographics to identify new opportunities. It provides examples of areas for discovery like new products or markets and techniques like analogies and prototypes that entrepreneurs can use to recognize opportunities and distinguish their business from competitors. Conducting regular environmental scans is important for anticipating changes, understanding the current business environment, and informing strategic planning.
The document discusses identifying business opportunities by scanning the external environment and one's own skills. It describes scanning politically, economically, socially and technologically to understand customer needs. Both macro environmental scanning (e.g. of industries) and micro scanning (e.g. specific opportunities within industries) are important. Self-evaluation of one's experience, knowledge, skills, finances and interests helps identify viable opportunities. Screening opportunities considers legality, competition, capital needs, risk, liquidity, credit availability and exchange rates.
1. The document discusses entrepreneurship and business concepts including entrepreneurship, intrapreneurship, technopreneurship, innovation, creativity, business models, marketing strategies, and intellectual property.
2. It compares the similarities and differences between entrepreneurs, intrapreneurs, and technopreneurs. It also outlines the entrepreneurial process and different types of business establishments.
3. Key concepts covered include the 4Ps of marketing (product, price, place, promotion), the importance of business plans, and factors in the external business environment.
Study of the interface between entrepreneurship and the entrepreneurial environment is essential for successful operation of business firms. This presentation talks about the different environmental factors affecting the growth and survival of an enterprise.
Entrepreneurship development & recognizing opportunitiesJubayer Alam Shoikat
Entrepreneurship Development & Recognizing Opportunities. entrepreneurship development & recognizing opportu
,
entrepreneurship development & recognizing opportu
,
innovation and entrepreneurship
,
tactics/ strategies for identifying opportunities
,
identify problems and needs
,
research demographics
,
lifestyles
,
and habits
,
watching trends
,
: social forces
,
economic forces
,
first approach: observing trends
,
cognitive factors
,
social networks
,
creativity
,
full view of the opportunity recognition process
,
third approach: finding gaps in the marketplace
,
second approach: solving a problem
,
establish a personal network
,
entry strategies
,
political action and regulatory changes2 of 2
,
technological advances
,
what is an opportunity?
,
three ways to identify an opportunity
,
brainstorming
,
focus groups
,
library and internet research
,
other techniques
,
creative sources of ideas
,
watch for demographic changes
Entrepreneurial Venture and Its ComponentsOfunre Iriobe
This slide discusses what makes an entrepreneurial venture different from regular businesses, and also highlights the components aspiring entrepreneurs need to pursue.
Environment Of Entrepreneurship Developmentk.shofiq
The document summarizes the business environment for entrepreneurship development in Bangladesh. It identifies several factors that make up the economic, political, legal, socio-cultural, technological, and natural environments. These include the availability of capital, labor, raw materials, technology, and markets. It also discusses how the environment influences entrepreneurship and economic growth. Government policies and stability are important for promoting entrepreneurship in the country.
The document discusses the evolution of entrepreneurship in India through 3 phases: (1) pre-British India when villages were self-sufficient and farmers/artisans thrived, (2) a decline during British rule due to competition and loss of local industries, and (3) post-independence development through policies promoting agriculture, industry, and programs like EDP to support entrepreneurship. It also outlines issues women entrepreneurs face and the role entrepreneurship plays in economic development through job creation and harnessing local resources.
Entrepreneurial Discovery and Environmental ScanningNCVPS
The document discusses how entrepreneurs can use environmental scans and entrepreneurial discovery to plan new businesses by systematically analyzing trends, gaps, and developments in technology, politics, society, and demographics to identify new opportunities. It provides examples of areas for discovery like new products or markets and techniques like analogies and prototypes that entrepreneurs can use to recognize opportunities and distinguish their business from competitors. Conducting regular environmental scans is important for anticipating changes, understanding the current business environment, and informing strategic planning.
The document discusses identifying business opportunities by scanning the external environment and one's own skills. It describes scanning politically, economically, socially and technologically to understand customer needs. Both macro environmental scanning (e.g. of industries) and micro scanning (e.g. specific opportunities within industries) are important. Self-evaluation of one's experience, knowledge, skills, finances and interests helps identify viable opportunities. Screening opportunities considers legality, competition, capital needs, risk, liquidity, credit availability and exchange rates.
1. The document discusses entrepreneurship and business concepts including entrepreneurship, intrapreneurship, technopreneurship, innovation, creativity, business models, marketing strategies, and intellectual property.
2. It compares the similarities and differences between entrepreneurs, intrapreneurs, and technopreneurs. It also outlines the entrepreneurial process and different types of business establishments.
3. Key concepts covered include the 4Ps of marketing (product, price, place, promotion), the importance of business plans, and factors in the external business environment.
Entrepreneurial Discovery and Environmental ScanningNCVPS
The document discusses how entrepreneurs can use entrepreneurial discovery and environmental scans to plan successful new businesses. It defines entrepreneurial discovery as systematically scanning for changes to discover new opportunities, and explains that environmental scans involve analyzing trends and issues in a business's external environment to aid in planning and anticipating changes. The document provides various techniques entrepreneurs can use to recognize new opportunities through discovery, such as using analogies, pattern recognition, experiments, and prototypes.
This document discusses the definition and characteristics of entrepreneurs. It defines an entrepreneur as someone who creates a new business by identifying opportunities and assembling resources to capitalize on those opportunities, despite risks and uncertainty. The document also outlines important entrepreneurial competencies like initiative, achievement orientation, efficiency, and concern for quality. Additionally, it examines the role of entrepreneurship in Oman's economic development, noting that entrepreneurship helps create jobs, encourages innovation, and promotes a more competitive business environment.
MACRO ENVIRONMENTAL SOURCES OF OPPORTUNITIES Ma Lovely
The document discusses opportunity seeking and the entrepreneurial mindset. It explains that entrepreneurs are innovative opportunity seekers who create value through new products/services or more efficient processes. The entrepreneurial mind frame, heart flame, and gut game allow entrepreneurs to see opportunities optimistically and follow their intuition. The document also outlines macro environmental factors - socio-cultural, political, economic, ecological, and technological - that influence industries and can present opportunities for businesses.
This lesson will teach you the basics of entrepreneurship beginning with what role it plays in society and the economy. You will also know key concepts of common and core competencies which are required skills to become a successful entrepreneur. You will be able to understand the pros and cons of being an entrepreneur as compared to being an employee. A total persona of an entrepreneur will be included to you, including the characteristics, behaviors, activities, values, and mindset. Last, you will be exposed to the various exciting career opportunities in line with being an entrepreneur.
The document summarizes key aspects of entrepreneurship and business management for a workshop, including definitions of entrepreneurship and entrepreneurs, the reasons for and roles of entrepreneurship, strategic importance of small businesses, and considerations for marketing, operations, financial, product, and organizational management for entrepreneurs and small businesses. Key challenges for small businesses include competing without mass production capabilities and accessing financing. The document emphasizes the need for entrepreneurs to be innovative, focus on market analysis and technology, and differentiate their offerings rather than competing directly with larger firms.
Identifying the needs of the community, its resources, available raw materials, skills, and appropriate technology can help a new entrepreneur in seizing business opportunity.
Chapter 3 Importance of Entrepreneurship Factors Affectingchong wan sin
This document discusses the importance of entrepreneurship and factors that affect entrepreneurial inclination. It notes that entrepreneurship provides value to society through products/services and economic impacts. A society with an entrepreneurial culture tends to be more productive and prosperous. Factors discussed include sociocultural influences like cultural values, role models, and networking ties that provide resources and opportunities for new ventures. Government policy can also influence entrepreneurship by facilitating a supportive environment or providing different models of encouragement and regulation.
1. The document discusses various aspects of starting and developing a new business venture including the steps involved, sources of funding and support available to entrepreneurs, and challenges that may be faced.
2. It describes several government institutions that provide funding, guidance and other support to entrepreneurs such as SIDBI, NABARD, and EXIM Bank of India.
3. The document also discusses the types of capital required for a new business including fixed capital for long-term assets and working capital for short-term operational needs, as well as sources of financing for each.
This document provides study material for the Foundation Programme Paper 1: Business Environment and Entrepreneurship. It is divided into three parts covering business environment, business laws, and entrepreneurship. The document includes lessons, syllabus, recommended reading list, and contents covering topics like forms of business organization, scales of business, emerging business trends, business functions, elements of company law, partnership law, contract law, sale of goods law, and negotiable instruments law. It aims to give students basic knowledge of business environment concepts and exposure to business and mercantile laws and entrepreneurship.
Entrepreneurship is cause but economic development is effectRajaram Kshetri
This document discusses entrepreneurship and its role in economic development. It defines entrepreneurship as undertaking innovations to transform them into economic goods. Entrepreneurs explore opportunities, provide new products/services, and generate employment, income, taxes, and innovations. They promote capital formation, balanced regional development, and poverty alleviation. However, entrepreneurship in Nepal faces problems like limited financing, lack of training, and an unstable policy environment. The government can support small businesses and entrepreneurship by improving the investment climate, providing capital, protecting investors, implementing supportive policies, and expanding institutional services like entrepreneurship development programs. These programs aim to train graduates in starting businesses successfully.
What is Venture? Types and Importance of VentureQaisar Ansar
This document provides an overview of ventures and venture creation. It defines a venture as a new business activity that involves risk and uncertainty. The venture creation process for entrepreneurs involves identifying market needs and demands that are not being met. There are several types of business structures that can be used for ventures, including sole proprietorships, partnerships, limited liability companies, and corporations. Venture creation is important for entrepreneurship as it promotes entrepreneurs, converts new technologies into commercial products, and creates jobs and economic growth. The impact of successful venture creation includes economic development by establishing new businesses that provide value to customers.
Entrepreneurship and economic development are intimately related. So, that entrepreneurial process is a major factor in economic development and the entrepreneur is the key to economic growth. Whatever be the form of economic and political set-up of the country, entrepreneurship is indispensable for economic development. Entrepreneurship is an approach to management that can be applied in start-up situations as well as within more established businesses.
The document discusses various topics related to entrepreneurship including innovation, invention, creativity, business ideas, environmental scanning, SWOT analysis, the entrepreneurship development cycle, and business planning. It defines key terms, provides examples, and outlines the process of developing a new business venture from coming up with an idea to writing a business plan and assessing feasibility and risks.
This document provides an introduction to entrepreneurship. It defines entrepreneurship and explains its importance, noting that it creates opportunities, ensures social justice, stimulates the economy, and more. Personal attributes of successful entrepreneurs like creativity, dedication, determination, and passion are described. The document also discusses required skills and education for entrepreneurs and lists some career opportunities in fields like business consulting, management analysis, sales, research and development, and fundraising that apply entrepreneurship knowledge.
The document discusses the importance of entrepreneurship in Oman's economic development goals as outlined in its Oman 2020 Vision. It notes that entrepreneurship is projected to play a key role in diversifying the economy away from oil and gas and stimulating growth in sectors like manufacturing, trade, and services. Entrepreneurship helps create jobs, increases the number of enterprises, promotes innovation, and encourages utilization of resources, thereby generating wealth and improving standards of living. An enterprising society is characterized by continuous discovery of new needs and ideas, solving of problems, and wide distribution of goods and services. The main factors stimulating entrepreneurship in Oman include capital formation, entrepreneurship training programs, availability of training facilities, a supportive environment,
This document discusses entrepreneurship and entrepreneurial competencies over 5 chapters. It defines an entrepreneur, describes famous entrepreneurs, and discusses the risks and uncertainties entrepreneurs face. It also outlines 9 competencies required for successful entrepreneurs including initiative, assertiveness, and commitment. The document notes entrepreneurship helps economic development by creating jobs, encouraging innovation, and improving standards of living. It compares the roles of entrepreneurs, managers, and other business people and lists the knowledge, skills, and traits needed to be a successful entrepreneur.
The document discusses the concepts of entrepreneurship and entrepreneurs. It provides definitions and describes the key characteristics and functions of entrepreneurs. The summary is:
1) An entrepreneur is someone who takes the risk of organizing and operating a business venture by providing capital, labor, and management skills in order to earn a profit.
2) Entrepreneurs supply risk capital, make decisions about production and operations, and monitor the business activities.
3) Successful entrepreneurs exhibit personality traits like initiative, risk-taking, problem-solving abilities and self-confidence. They also develop important managerial skills like planning, organizing and decision making.
The document introduces key concepts in business management including the role of businesses, adding value, opportunity cost, division of labor, and business functions. It discusses the primary, secondary, tertiary, and quaternary sectors of the economy and how sectors change over time. The roles of entrepreneurship and intrapreneurship are covered. Considerations for starting a new business like costs, factors to evaluate, reasons for starting, and challenges are outlined. Elements of an effective business plan are also mentioned.
This document summarizes research on the impact of COVID-19 on employee behavior and work from home arrangements. It reviews several studies that examined how the pandemic has accelerated remote work and virtual teams. It also discusses the challenges of working from home, such as increased stress and the need for organizational support. The review found that employees require a supportive environment and flexible policies to work effectively from home. It also highlighted the importance of addressing issues like communication gaps, mental well-being, and supporting creativity while remote. Overall, the research emphasized that the pandemic has fundamentally changed work and organizations must adapt policies and practices to address the needs of a dispersed workforce.
Assignment on Entrepreneurship development( stories of a successful entrepren...Md. Sourav Hossain
This assignment will help every student for making their assignment and presentation better and effective. From this everyone will understand that how to be a successful entrepreneur.
Market Analysis - What's Your USP?
If You BUILD It...Will They BUY It?
Market Research and Analysis is the cornerstone to business success! Without Customers....There Is NO Business! I liken it to being pregnant without a way to deliver! Too often entrepreneurs rely on circumstantial or surface research to make their marketing decisions only to come out on the wrong side wondering why they can not attract the customers they want…or demand the price they want for their products or services.
Market research is an exact science that aids not only in understanding what your customers want and how much they are willing to pay for it…but also what intentions may be coming down the road (predictive analysis).
Numbers are the key to success! Without research, the numbers are meaningless. Understanding the size of your market, how many potential clients are available and what your capture rate should be are critical data to have at your fingertips when planning your marketing strategy. This program introduces the types and methodologies associated with Market Research and Analyzing the data.
If interested in attending one of our educational workshops or webinars simply reach out to www.epepsuccess.com or www.davna.com for more details.
Entrepreneurial Discovery and Environmental ScanningNCVPS
The document discusses how entrepreneurs can use entrepreneurial discovery and environmental scans to plan successful new businesses. It defines entrepreneurial discovery as systematically scanning for changes to discover new opportunities, and explains that environmental scans involve analyzing trends and issues in a business's external environment to aid in planning and anticipating changes. The document provides various techniques entrepreneurs can use to recognize new opportunities through discovery, such as using analogies, pattern recognition, experiments, and prototypes.
This document discusses the definition and characteristics of entrepreneurs. It defines an entrepreneur as someone who creates a new business by identifying opportunities and assembling resources to capitalize on those opportunities, despite risks and uncertainty. The document also outlines important entrepreneurial competencies like initiative, achievement orientation, efficiency, and concern for quality. Additionally, it examines the role of entrepreneurship in Oman's economic development, noting that entrepreneurship helps create jobs, encourages innovation, and promotes a more competitive business environment.
MACRO ENVIRONMENTAL SOURCES OF OPPORTUNITIES Ma Lovely
The document discusses opportunity seeking and the entrepreneurial mindset. It explains that entrepreneurs are innovative opportunity seekers who create value through new products/services or more efficient processes. The entrepreneurial mind frame, heart flame, and gut game allow entrepreneurs to see opportunities optimistically and follow their intuition. The document also outlines macro environmental factors - socio-cultural, political, economic, ecological, and technological - that influence industries and can present opportunities for businesses.
This lesson will teach you the basics of entrepreneurship beginning with what role it plays in society and the economy. You will also know key concepts of common and core competencies which are required skills to become a successful entrepreneur. You will be able to understand the pros and cons of being an entrepreneur as compared to being an employee. A total persona of an entrepreneur will be included to you, including the characteristics, behaviors, activities, values, and mindset. Last, you will be exposed to the various exciting career opportunities in line with being an entrepreneur.
The document summarizes key aspects of entrepreneurship and business management for a workshop, including definitions of entrepreneurship and entrepreneurs, the reasons for and roles of entrepreneurship, strategic importance of small businesses, and considerations for marketing, operations, financial, product, and organizational management for entrepreneurs and small businesses. Key challenges for small businesses include competing without mass production capabilities and accessing financing. The document emphasizes the need for entrepreneurs to be innovative, focus on market analysis and technology, and differentiate their offerings rather than competing directly with larger firms.
Identifying the needs of the community, its resources, available raw materials, skills, and appropriate technology can help a new entrepreneur in seizing business opportunity.
Chapter 3 Importance of Entrepreneurship Factors Affectingchong wan sin
This document discusses the importance of entrepreneurship and factors that affect entrepreneurial inclination. It notes that entrepreneurship provides value to society through products/services and economic impacts. A society with an entrepreneurial culture tends to be more productive and prosperous. Factors discussed include sociocultural influences like cultural values, role models, and networking ties that provide resources and opportunities for new ventures. Government policy can also influence entrepreneurship by facilitating a supportive environment or providing different models of encouragement and regulation.
1. The document discusses various aspects of starting and developing a new business venture including the steps involved, sources of funding and support available to entrepreneurs, and challenges that may be faced.
2. It describes several government institutions that provide funding, guidance and other support to entrepreneurs such as SIDBI, NABARD, and EXIM Bank of India.
3. The document also discusses the types of capital required for a new business including fixed capital for long-term assets and working capital for short-term operational needs, as well as sources of financing for each.
This document provides study material for the Foundation Programme Paper 1: Business Environment and Entrepreneurship. It is divided into three parts covering business environment, business laws, and entrepreneurship. The document includes lessons, syllabus, recommended reading list, and contents covering topics like forms of business organization, scales of business, emerging business trends, business functions, elements of company law, partnership law, contract law, sale of goods law, and negotiable instruments law. It aims to give students basic knowledge of business environment concepts and exposure to business and mercantile laws and entrepreneurship.
Entrepreneurship is cause but economic development is effectRajaram Kshetri
This document discusses entrepreneurship and its role in economic development. It defines entrepreneurship as undertaking innovations to transform them into economic goods. Entrepreneurs explore opportunities, provide new products/services, and generate employment, income, taxes, and innovations. They promote capital formation, balanced regional development, and poverty alleviation. However, entrepreneurship in Nepal faces problems like limited financing, lack of training, and an unstable policy environment. The government can support small businesses and entrepreneurship by improving the investment climate, providing capital, protecting investors, implementing supportive policies, and expanding institutional services like entrepreneurship development programs. These programs aim to train graduates in starting businesses successfully.
What is Venture? Types and Importance of VentureQaisar Ansar
This document provides an overview of ventures and venture creation. It defines a venture as a new business activity that involves risk and uncertainty. The venture creation process for entrepreneurs involves identifying market needs and demands that are not being met. There are several types of business structures that can be used for ventures, including sole proprietorships, partnerships, limited liability companies, and corporations. Venture creation is important for entrepreneurship as it promotes entrepreneurs, converts new technologies into commercial products, and creates jobs and economic growth. The impact of successful venture creation includes economic development by establishing new businesses that provide value to customers.
Entrepreneurship and economic development are intimately related. So, that entrepreneurial process is a major factor in economic development and the entrepreneur is the key to economic growth. Whatever be the form of economic and political set-up of the country, entrepreneurship is indispensable for economic development. Entrepreneurship is an approach to management that can be applied in start-up situations as well as within more established businesses.
The document discusses various topics related to entrepreneurship including innovation, invention, creativity, business ideas, environmental scanning, SWOT analysis, the entrepreneurship development cycle, and business planning. It defines key terms, provides examples, and outlines the process of developing a new business venture from coming up with an idea to writing a business plan and assessing feasibility and risks.
This document provides an introduction to entrepreneurship. It defines entrepreneurship and explains its importance, noting that it creates opportunities, ensures social justice, stimulates the economy, and more. Personal attributes of successful entrepreneurs like creativity, dedication, determination, and passion are described. The document also discusses required skills and education for entrepreneurs and lists some career opportunities in fields like business consulting, management analysis, sales, research and development, and fundraising that apply entrepreneurship knowledge.
The document discusses the importance of entrepreneurship in Oman's economic development goals as outlined in its Oman 2020 Vision. It notes that entrepreneurship is projected to play a key role in diversifying the economy away from oil and gas and stimulating growth in sectors like manufacturing, trade, and services. Entrepreneurship helps create jobs, increases the number of enterprises, promotes innovation, and encourages utilization of resources, thereby generating wealth and improving standards of living. An enterprising society is characterized by continuous discovery of new needs and ideas, solving of problems, and wide distribution of goods and services. The main factors stimulating entrepreneurship in Oman include capital formation, entrepreneurship training programs, availability of training facilities, a supportive environment,
This document discusses entrepreneurship and entrepreneurial competencies over 5 chapters. It defines an entrepreneur, describes famous entrepreneurs, and discusses the risks and uncertainties entrepreneurs face. It also outlines 9 competencies required for successful entrepreneurs including initiative, assertiveness, and commitment. The document notes entrepreneurship helps economic development by creating jobs, encouraging innovation, and improving standards of living. It compares the roles of entrepreneurs, managers, and other business people and lists the knowledge, skills, and traits needed to be a successful entrepreneur.
The document discusses the concepts of entrepreneurship and entrepreneurs. It provides definitions and describes the key characteristics and functions of entrepreneurs. The summary is:
1) An entrepreneur is someone who takes the risk of organizing and operating a business venture by providing capital, labor, and management skills in order to earn a profit.
2) Entrepreneurs supply risk capital, make decisions about production and operations, and monitor the business activities.
3) Successful entrepreneurs exhibit personality traits like initiative, risk-taking, problem-solving abilities and self-confidence. They also develop important managerial skills like planning, organizing and decision making.
The document introduces key concepts in business management including the role of businesses, adding value, opportunity cost, division of labor, and business functions. It discusses the primary, secondary, tertiary, and quaternary sectors of the economy and how sectors change over time. The roles of entrepreneurship and intrapreneurship are covered. Considerations for starting a new business like costs, factors to evaluate, reasons for starting, and challenges are outlined. Elements of an effective business plan are also mentioned.
This document summarizes research on the impact of COVID-19 on employee behavior and work from home arrangements. It reviews several studies that examined how the pandemic has accelerated remote work and virtual teams. It also discusses the challenges of working from home, such as increased stress and the need for organizational support. The review found that employees require a supportive environment and flexible policies to work effectively from home. It also highlighted the importance of addressing issues like communication gaps, mental well-being, and supporting creativity while remote. Overall, the research emphasized that the pandemic has fundamentally changed work and organizations must adapt policies and practices to address the needs of a dispersed workforce.
Assignment on Entrepreneurship development( stories of a successful entrepren...Md. Sourav Hossain
This assignment will help every student for making their assignment and presentation better and effective. From this everyone will understand that how to be a successful entrepreneur.
Market Analysis - What's Your USP?
If You BUILD It...Will They BUY It?
Market Research and Analysis is the cornerstone to business success! Without Customers....There Is NO Business! I liken it to being pregnant without a way to deliver! Too often entrepreneurs rely on circumstantial or surface research to make their marketing decisions only to come out on the wrong side wondering why they can not attract the customers they want…or demand the price they want for their products or services.
Market research is an exact science that aids not only in understanding what your customers want and how much they are willing to pay for it…but also what intentions may be coming down the road (predictive analysis).
Numbers are the key to success! Without research, the numbers are meaningless. Understanding the size of your market, how many potential clients are available and what your capture rate should be are critical data to have at your fingertips when planning your marketing strategy. This program introduces the types and methodologies associated with Market Research and Analyzing the data.
If interested in attending one of our educational workshops or webinars simply reach out to www.epepsuccess.com or www.davna.com for more details.
The document discusses marketing strategies for the real estate market in Vietnam in 2013. It notes that the real estate market, especially in Hanoi and Ho Chi Minh City, continued to face difficulties in 2013 with rising supply and falling prices of apartments and villas. The document then examines different dimensions of market strategies an organization can adopt, including market scope strategy, market geography strategy, market entry strategy, market commitment strategy, and market dilution strategy. It provides examples of how companies have implemented each of these strategies. The document evaluates how suitable each strategy would be for products/services in the Vietnamese real estate market given the industry environment and competitive forces.
The document provides an overview of an organization's human resource management practices including its organizational structure, human resource planning and forecasting, recruitment and selection, training and development, performance management, compensation and benefits, career management, and labor relations. It also includes a SWOT analysis identifying strengths like its target customers and infrastructure, weaknesses such as financial instability and high employee turnover, opportunities such as enhancing recruitment policies and threats like emerging competitors. The document concludes with recommendations to improve practices such as restructuring services, drafting clear job requirements, implementing promotion policies, and enhancing training and relations with stakeholders.
The document discusses different marketing strategies including market strategy, product strategy, pricing strategy, distribution strategy, and promotion strategy. It focuses on various aspects of market strategy such as market scope strategy, market geography strategy, market entry strategy, market commitment strategy, and market dilution strategy. For each strategy, it provides details on definitions, types, examples, and reasons for implementation. The key points covered are single market strategy, multimarket strategy, total market strategy, expanding geographically from local to international markets, benefits and timing of market entry, degree of market commitment, and reasons for reducing involvement in some markets.
Bmms5103 assignment october semester 2012[1]Phan Phuong
This document provides the guidelines and requirements for an assignment on marketing strategy for a marketing course. The purpose of the assignment is for students to analyze the synergistic relationship between marketing and strategy. Students must explain five strategic dimensions with examples, evaluate the suitability of each for a selected product/service, and discuss implications of their recommended strategy. The assignment must be 2500 words or less, follow APA style, and include references from 2007 onwards. Students will also present their assignment and be marked on presentation content and duration. Plagiarism will result in failure.
Business analysis techniques described in the document include VPEC-T, CATWOE, PESTLE, de Bono's Six Thinking Hats, MOST, and MoSCoW. VPEC-T analyzes the expectations of stakeholders, CATWOE considers business perspectives, and PESTLE performs an external environmental analysis. De Bono's Six Thinking Hats encourages different types of thinking in brainstorming. MOST ensures project alignment and MoSCoW prioritizes requirements. These techniques help business analysts identify business needs and determine solutions.
This document summarizes key points from Chapter 9 of the textbook "Economics of Strategy" regarding strategic commitment. It discusses how strategic commitments can impact competition by altering rivals' expectations. Commitments are most effective when they are visible, understandable, and credible. Firms must consider whether their actions and those of competitors are strategic substitutes or complements. The value of commitments depends on their direct effects and strategic effects, and commitments can create flexibility or preserve future options depending on the context.
Henry Ford was born in 1863 in Michigan. He had a passion for machinery and spent his free time inventing and tinkering. In 1896, he built his first gasoline-powered automobile called the Quadricycle. He went on to found the Ford Motor Company in 1903. Ford revolutionized the automobile industry with the Model T, first introduced in 1908. It was inexpensive, mass produced, and sold over 15 million units. Ford faced many challenges including competition, economic downturns in Europe, and theft of popular Ford models. However, through innovation and strong leadership, Ford was able to overcome barriers and become one of the most successful automakers in the world.
This document provides an overview of entrepreneurship and small business. It defines key terms like enterprise, entrepreneurship, and intrapreneurship. It also outlines the important skills, attributes, and behaviors of successful entrepreneurs. Additionally, it discusses the importance of small businesses and entrepreneurship for both individual economies and the wider global economy. The document evaluates the stages necessary for a new business idea and common misconceptions around entrepreneurship. It concludes with a summary of the key points and recommendations.
This summary provides an overview of key concepts from differential cost analysis and incremental decision making:
Differential cost analysis focuses on the differences in costs and revenues between alternative choices. It considers only costs and revenues that change with the decision. Incremental analysis compares the incremental revenue to the incremental costs of various options to determine the most profitable choice. For example, a company may analyze whether to make or buy a product based on the incremental costs and revenues of each option.
Ringkasan dokumen tersebut adalah sebagai berikut:
1) Ekonomi Malaysia terus pulih dan menunjukkan pertumbuhan yang kukuh di tengah kelemahan ekonomi global.
2) Beberapa sektor utama seperti perkhidmatan, pembinaan, dan pertanian mencatat pertumbuhan yang baik.
3) Walau bagaimanapun, sektor perlombongan dan pembuatan menunjukkan prestasi yang lebih perlahan.
The document lists the top 10 women entrepreneurs in India, including Mallika Srinivasan of TAFE, Priya Paul of Appejay Park Hotels, and Sulajja Firodia Motwani of Kinetic Motors. It provides the name and company position for each of the top 10 entrepreneurs. The number one spot is given to Indra Nooyi, who serves as Chairman and CFO of PepsiCo.
This document discusses the concept of strategic entrepreneurship. It begins by reviewing the literature on how strategic management and entrepreneurship intersected as fields of study over time. Key components of strategic entrepreneurship are identified as opportunity identification, innovation, risk acceptance, flexibility, vision, and growth. Definitions position strategic entrepreneurship at the intersection of strategic management and entrepreneurship, focusing on using entrepreneurial activity to achieve strategic goals. The conclusion discusses benefits that strategic planning can provide for entrepreneurs in improving performance and competitive position.
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1. Phan Thi Mai Phuong, ID: 2444702
ENTREPRENEURSHIP ASSIGNMENT
Advisor : DR ZORAH ABU KASSIM
Graduate Student : PHAN THI MAI PHUONG
Class 1 : MBAOUM1011
ID : 2444702
2011 - 2013
2. Phan Thi Mai Phuong, ID: 2444702
INDEX
Acknowledge --------------------------------------------------------------------------------------------------------- i
Abstract ---------------------------------------------------------------------------------------------------------------- ii
Chapter 1: INTRODUCTION------------------------------------------------------------------------------------ 1
1.1 Background of the Study --------------------------------------------------------------------------------------- 1
1.2 Problem Statement and Objectives of the study ------------------------------------------------------------- 1
1.3 Research significance-------------------------------------------------------------------------------------------- 2
Chapter 2: THESE SKILLS THAT AN ENTREPRENEUR AND INSTRUMENTS
THAT A BUSINESSMAN CAN USE TO UTILIZE THESE SKILLS------------------- 2
2.1 List the number of skills that an entrepreneur should have ------------------------------------------------ 3
2.2 The general view of the Entrepreneurs skill------------------------------------------------------------------ 4
2.3 These types of instruments that a businessman can use to utilize these skills -------------------------- 5
CHAPTER 3: CONCLUSION ----------------------------------------------------------------------------------- 6
REFERENCE --------------------------------------------------------------------------------------------------------- 6
3. Phan Thi Mai Phuong, ID: 2444702
ACKNOWLEDGEMENT
First of all, I would like to thank my maternal grandparents and my family for contributing to
my life as a whole and supporting my decisions along the way. I would especially like thanks to Dr.
Zorah Abu Kassim. She taught us appropriate knowledge in order to make me understandable more
about entrepreneurship. We were explained clearly prior to start doing the practical assignment. We
are very lucky to learn from experience lecturer like her. Without her knowledge and expertise this
paper would not have been accomplished.
I would also like to thank my director of TAN CONSTRUCTION CONSULTANTS CO.,
LTD for allowing me to complete this assignment, who guide me and support me with all the time to
working and learning at his company.
With kindest regards,
HCMC, May 2013
Phan Thi Mai Phuong
4. Phan Thi Mai Phuong, ID: 2444702
ABSTRACT
Entrepreneurs are who see opportunities while others just see crisis or mistakes. Entrepreneurs
were the pioneers of business nowadays. Entrepreneurship is the symbol of business tenaciousness
and accomplishment. There are always a key individual who attributes to the success of a business,
such as Bill Gate of Microsoft, Steve Jobs of Apple, Larry Page of google and Tony Fernandes of
AirAsia. Their applications of creativity, risk taking, innovation and the passion lead the way to the
successful of the business which contributes a lot to the economic growth.
In this study we will mention critical thinking and analysis of competitive advantages in
entrepreneurship leading to national advantage for a few successful entrepreneurs in the low cost
airline companies such as Vietjet of Vietnam, AirAsia of Malaysia. And by the identifying
entrepreneurial skills and instruments and applying them strategically as needed to grow and sustain
for profit or not for profit ventures, and also combining knowledge. Then we will using some these
skills, instruments and propose to discuss and explain more exactly how an entrepreneur can use
them to his or her advantage for the comment of Mr. Michael Gerber said “Globally entrepreneurs are
well supported by their respective countries everywhere as they look for gaps and attempt to add
value at every possible opportunity. An entrepreneurial mindset does not see problems but rather
perceives opportunities (Michael E. Gerber is an entrepreneur, small business guru, and the
bestselling author of numerous books)
According to Mr. Peter Drucker defines “Entrepreneurship as knowledge base and practice of
this knowledge. Entrepreneurship is a module in that is often a topic for assignment writing.”
Entrepreneurship includes characteristics such as the identification of new ideas, improving
upon the presented opportunities, marshalling the necessary finances, infrastructure, human resources
and management skills, and braving risks and hurdles to venture into the market with innovative
products, processes or services. (Peter Drucker, November 19, 1909 – November 11, 2005,
Management consultant, educator and author)
Entrepreneurs as the method of utilising one’s individual creativity and inventiveness to bring
in changes to an already existing business the skills an entrepreneur needs to have and also these
types of instruments that a businessman can use to utilize these skills or to initiate a new business
with a view to developing and expanding it and make it an economically profitable venture.
5. Phan Thi Mai Phuong, ID: 2444702
Chapter 1: INTRODUCTION
Vietjet rose to prominence as a private airline company, into a highly successful budget airline
public-listed company. Entrepreneurs of Vietjet was focus on the demand to travel for business
purposes, visiting family, and tourism constantly increasing, their motto is to enable domestic
passengers and foreign tourists to travel at low cost. In the process, VietJetAir will provide people
who have hitherto been unable to afford air travel the opportunity to fly. Nguyen Thanh Ha- board of
directors Vietjet said in their commitment " To implement our strategy for developing VietJetAir into
a favored low-cost airline in Vietnam and other markets, we have comprehensive investment plans
focused on acquiring new modern aircrafts." (According to the website http://www.vietjetair.com)
In Vietnam, VietJetAir is the one of the successful entrepreneurs is the founder of the Vietjet
companies which introduced the first budget no-frills airline, It is their commitment to make air travel
easier and more pleasurable for everyone not only through low cost but also their friendly and
enthusiastic flight attendants, high safety, and convenience of services with the tagline "enjoy flying".
And also in Malaysia, one of the successful entrepreneurs is the founder of the Tune Group of
Companies named Mr. Tony Fernandes, who introduced the first budget no-frills airline, AirAsia, to
Malaysians with the tagline "Now everyone can fly".
1.2 Background of the Study
This study plays an important role in the economy of any country which the place that
entrepreneurs will investigate the effects of their skill on their organization performance, we will list
down the number of skills that we thinking an entrepreneur should have then discuss for the types of
intrstruments that a businessman can use to untilixe these skill.
1.2 Problem Statement and Objectives of the study
The following sub-problems have been developed from the main problem:
o List the number of skills that an entrepreneur should have.
o The general view of the Entrepreneurs skill.
o These types of instruments that a businessman can use to utilize these skills.
o Discussion some the entrepreneur skills and the instruments use to utilize these
skills with the growing of every company need to known clearly, especially, this study will be
discussion the factors above as the entrepreneurs be successful and what advantage do economies
gain from their entrepreneurs achieving success in their endeavours at the airline of Vietjet and
AirAsia as an example.
6. Phan Thi Mai Phuong, ID: 2444702
o To conduct a literature study to identifying entrepreneurial skills and
instruments and applying them strategically as needed to grow and sustain for profit or not for profit
ventures
o To conduct an improving our critical thinking and application skills
o To conduct a combining knowledge from other courses with the new material
presented in the course to develop sophisticated analyses and solutions to pursuing innovative
solutions in today’s fast-paced, global, and highly competitive environment.
1.3 Research significance
Significance of the Study is point out a critical thinking and analysis of competitive advantages
in entrepreneurship leading to national advantage from the entrepreneurs.
Chapter 2: THESE SKILLS THAT AN ENTREPRENEUR AND INSTRUMENTS THAT A
BUSINESSMAN CAN USE TO UTILIZE THESE SKILLS
According to the report of (http://www.sggp.org.vn) on the discussion around the entrepreneur:
First Vietnam Business Day was officially established (13-10-2004). The event was a good sign,
showing that social awareness of the positive role of business, rather entrepreneur. Entrepreneur skills
needed many different ingenious, if not all manageable, well enough to take over most of the
functions and tasks in the market because they usually start with little capital constraints. Therefore,
the third attribute is resourceful entrepreneur. Blood competitive, self-confidence, determination and
will power leadership as well as other attributes of the entrepreneur.
In American culture, entrepreneur is often seen as a core element (a critical component) of
capitalist society. According to Wikipedia, the typical entrepreneur's reputation and America
traditionally face the following four:
Henry Ford (l863 - 1947) was a farmer figure, with the development of gas-powered cars
(l893), founder of automaker Ford (1903), find a way to mass production (mass production) and
consolidating the wire assembly (assembly line, 1908-1927). At first, this method applies only Ford
but later applied to many industries and different factories worldwide. Ford not only revolutionary
production technology, but also a major impact on cultural life time, that many social theorists have
created from "Fordism" to name methods produce highly specialized nature Ford's degrees.
(According from the http://www.sggp.org.vn)
John Pierpont Morgan (l837 - 1913) is one of the financial and banking world powers. In
addition to funding for the establishment of United States Steel Corporation (the United States Steel
7. Phan Thi Mai Phuong, ID: 2444702
Corporation), he also gives the U.S. government gold worth U.S. $ 62 million to help the state bond
issue (1895) and thus restore balance to the national treasury U.S. $ 100 million. These are just two of
the many achievements of his illustrious. (According from the http://www.sggp.org.vn)
Thomas Alva Edison (l847 - 1931) was the inventor cum entrepreneur, owns 1,093 patents in
his name. Most of his inventions are the result of the complete re-invention of their predecessors.
(According from the http://www.sggp.org.vn)
Bill Gates (born 28-10-1955) is chairman and chief software designer (Chief Software
Architect) by his company and Microsoft co-founder Paul Allen when he was a student at the
University of Harvard. (According from the http://www.sggp.org.vn)
So that we can know that Entrepreneurs to draw a true reflection of the essential role of the
entrepreneur to the nation and humanity such as several lines of four career summary on this
character can still sketchy but revealed that they not only enrich themselves which is really very
much to enrich their people and all mankind. Because they were: creating a method for producing
revolutionary extensive worldwide (Ford), contributing significantly to slap on the financial strength
of the country (Morgan); very strong impact on the process civilization and progress of mankind
(Edison) made an important agent of global information explosion due to the dizzying progress of
computer technology (Gates).
2.4 List the number of skills that an entrepreneur should have.
According to Carla Michelle written six must-have skills every entrepreneur needs as follow:
- Self-Motivation: The most important skill any entrepreneur needs is the ability to wake up in
the morning and begin working.
- Self-Confidence: Every entrepreneur needs to be confident in themselves, their product and
their business. You need to know that your product can truly help people.
- Ethics & Morals: Ethics and morals are the foundation of every good entrepreneur. Early on
you must decide what you and your business will stand for and what lines you will refuse to cross.
Many entrepreneurs close their doors because the dollar outshines their morals. If you stray too far
from your morals you will give yourself and your business a bad name. No one wants to do business
with someone who will not stand up for their own morals.
- Time Management: This cannot be emphasized enough. New entrepreneurs need to realize
that every minute is valuable. When first starting out, most likely you will not have enough “work” to
fill an eight hour day.
- Sales: No matter how much you don’t like the idea of it, every business has to work with
sales. Each industry and business has a unique way of handling their sales. As an entrepreneur, it is
8. Phan Thi Mai Phuong, ID: 2444702
your job to figure out what type of sales you prefer and what type is best for your services or
products. If you have ever worked in retail sales or advertising you already have an edge on most
other hopeful business people.
- Finance: When in business, knowledge of finance is a must. Knowing how to balance a
checkbook and keep track of numbered invoices is all most small businesses need to start out. The
most important aspect of small business finance is scheduling time specifically for your finance
management and doing it.
2.5 The general view of the Entrepreneurs skill.
In reading this part it is important that we can understand the skills that an entrepreneur should
have. My background is extremely varied and some would argue that it have elements of
entrepreneurship within it. It encompasses the formal academic training of youth, eight years as a
vice director at some the private company working with small and medium enterprises and the
organizations that support them. So, we can recognize that Entrepreneurs need to have the
interpersonal skills, as people skills or soft skills. We used both at and away from our place of
business, whereas hard skills or occupational skills have to do with our ability to perform certain
types of activities and tasks at work. Here some skill we can put it always in our mind:
- Planning and decision-making skills
- Manage ment Skill
- Communication Skills
- Negotiation skill
- Analytical skills and problem solving
- A willingness to take calculated risks
- Personal stress management
- Persuasion skills
- Team building skills
- Strategic thinking
- Creative problem solving
Today the world changes faster than it ever was in the history of mankind. And also as the world
rapidly changes developed countries complain about the various skill shortages such as the need for
IT skills HRM skills...and especially we cant forgot the skill for using the Ethics & Morals in the
business, ethics and morals are the foundation of every good entrepreneur.. The society has once
again come to realize that workplace performance can benefit from maximizing the potentials of
different personality types within a team and that certain behavior can help move a company toward
its goals. In more developed societies, we have come to realize that our soft skills serve to enhance
9. Phan Thi Mai Phuong, ID: 2444702
our interactions with our friends, family, and clients and to help us improve our work performance
and career prospects.
2.6 These types of instruments that a businessman can use to utilize these skills.
- Depend on which skills that entrepereurs want to use in their business, we have many types of
intrusment that a businessman can use to utilize these skills. Here are some types of
instrument that entrepereneur at Vietjet use to untilize such as :
- Planning skill when they choose plan with the low price, they must use the SWOT to analysis
to find a good planning for their company.
- Management Skill: Vietjet realy have a good communication with their staff to guide their
work with hight power. Communication Skills: Vietjet just a private company and newer, they
must have a good communication skills with external and internal communication by support
from the hight technology such as an instrument is :
o Basic communication tools with mail, Landline Telephones, deo and Web Conferencing,
Social networking sites, Online chat tools, Fax Machines…, as an opportunity to create
the change for their business.
o Computers: A computer as destop, laptop, notebook, tablet, handheld are so good tools
that it should be included as a key tool at Vietjet. Computers can be purchased for a wide
range of prices. For basic word processing, e-mail, accounting, and spreadsheet work they
will not require a top-of-the-line computer.
o The Internet: the most important that Vietjet always use as a good tood for the strategy.
Remember, appropriate use of technology can make their business look established and
successful from the very beginning
- Negotiation skill: one of the tools at Vietjet was used in their strategy as SWOT analysis, tax,
economic factors...to get the information from maket and from their competitor.
- Sales and Marketing Skills: with the 4Ps, Marketing mix strategies, PESTEL…
In all the factors above that saw at the business of Vietjet, the entrepreneurs at Vietjet was
successful and what advantage do economies gain from their entrepreneurs achieving success in their
endeavours, especial when they are the entrepreneur who is a business leader looks for ideas and puts
them into effect in fostering economic growth and development such as Increase in the standard of
living of the people is a characteristic feature of economic development of the country.
10. Phan Thi Mai Phuong, ID: 2444702
CHAPTER 3: CONCLUSION
Accodring to annouce from website of the Vietjet air “VietJetAir the private airlines of Vietnam
was first licensed domestic and international flights. Our motto is to create more opportunities to fly
with lower costs for local residents and tourists to Vietnam". (www.vietjetair.com), and from the fact
that Vietjet have been achieved had affirmed that the entrepreneur at VietJet has the skills of a
businessman that always use the most useful tool utilize these skills. In short, here now we can
understand more clearly for what Michael Gerber said “The entrepreneur builds an enterprise; the
technician builds a job.” (Michael Gerber)
REFERENCE
Books and slide
BMBR5103 Business Research Method, Dr Rohana Kamarudin, Assoc Prof Dr Noryati
Ahmad, Dr. Catherine S. F. Ho, Open University Malaysia
Online resources and magazines
www.vietjetair.com
www.sggp.org.vn
www.mindtools.com
Michael E. Gerber is an entrepreneur and the bestselling author of numerous books
Peter Drucker, November 19, 1909 – November 11, 2005, Management consultant, educator
and author