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“ROLE OF ENTREPRENEURSHIP IN RAKHINE STATE”
Prof.Dr.Aung Tun Thet
9th Event of Better Future Better Myanmar 2015 Free Seminar Series
ROLE OF ENTREPRENEURSHIP
IN RAKHINE’S DEVELOPMENT
PROF.DR.AUNG TUN THET
POTENTIAL
 Total Population:
3,188,807
 Male 1,526,,402
 Female: 1,662,405
ECONOMY
 Rice main crop (85% of total agricultural land)
 Coconut and nipa palm plantations also important
 Fishing major industry
 Wood products
 Huge potential for petroleum and natural gas production
 Tourism – cultural, recreational
 Kyaukphyu SEZ
RESPONSE
Political
EconomicSocial
ECONOMIC ENTREPRENEURSHIP
ACT
ENTREPRENEURSHIP
 Dynamic need
 Sustainable/Inclusive development
ENTREPRENEURSHIP
 Job creation
 National income
 Capital formation
 Balanced regional development
 Innovations
 Economic independence
 Reducing unrest and social tension
COMMON CHARACTERISTICS
 Commitment
 Determination
 Perseverance
 Achievement
 Opportunity orientation
 Initiative
 Internal locus of control
 Tolerance for ambiguity
 Calculated risk taking
 Tolerance for failure
 High energy level
 Creativity
 Self confidence
 Independence
 Teamwork
MOTIVATION
Idea Own boss Work Life Balance Financial Rewards Creative Others
Idea
Own Boss
Financial
Rewards
Creative
Others
Work-Life Balance
TYPOLOGY
Recognizing
Opportunities
Potential
Entrepreneurs
Assembling
Resources
Nascent
Entrepreneurs
Launch
New Venture
New
Entrepreneurs
Harvesting &
Succeeding
Established
Entrepreneurs
ENTREPRENEURIAL PROCESS
Individual
Attributes
Environment
Opportunities Discovery Exploitation EXECUTION
ENTREPRENEUR
 Director
 Directs production
 Ensure success
INNOVATION
 New product
 New method
 New market
 New source
 New organization
INNOVATION PROCESS
 Types
 Invention
 Extension
 Duplication
 Synthesis
 Sources
 Unexpected occurrences
 Process needs
 Industry & market changes
 Demographic changes
 Knowledge based
CREATIVE & INNOVATION
 Sources of new ideas
 Consumers
 Existing companies
 Distribution channels
 Research & Development
 Government
 Methods of generation ideas
 Brainstorming
 Focus Groups
 Problem analysis
ENTREPRENEURS
 Creative Thinking + Systematic Analysis = SUCCESS
 Seek out unique opportunities to fill needs and wants
 Turn problems into opportunities
 Recognize problems, solutions
CREATIVE THINKING
 Generation of ideas
 Process
 People
CRITICAL THINKING PROCESS
Creative
Process
Incubation
Ideas
Evaluation &
Implementation
Knowledge
Accumulation
CREATIVE CLIMATE
 Trust
 Open
 Considerate
 Willingness to accept stage
 Enjoyment
 No fear
 Diversity
FEATURES OF ENTREPRENEURSHIP
Economic Activity
Creative Activity
Innovation Function
Dynamic Process
Organizing Function
Risk-bearing Function
Gap filling Function
ENTREPRENEURIAL FUNCTIONS
Risk
Bearing
Innovation
Decision
Making
Managerial
Organizational
BASIC COMPONENTS
Technology
Finance
Sales & Marketing
• Men
• Machines
• Management
• Methods
• Money
• Materials
• Market
ENTREPRENEURSHI
P
DEVELOPMENT
CYCLE
Stimulatory
• Training &
Education
• Publicizing
opportunities
• Making
information
available
• Offering incentives
& recognition
• Creating forum
Support
• Funds
• Market linkages
• Management
• Technology
• Information
• Facilities
Sustaining
• Growth &
Expansion
• Refinancing
• Legal & Policy
Modifications
ASPECTS OF ENTREPRENEURSHIP
Venture
Financing
Social
Women
&
Minority
Education
Family
Business
Global
Youth
Corporate
ENTREPRENEURSHIP
 Mind Set
 Seek opportunities
 Take risks
 Tenacity
 E + f(e)
NEVER GIVE UP
 Stay Alive
 Lower Expectations
 Persist
 Don’t compare
GETTING OVER FEAR
 Act with limited information
 Trust your gut
 Imagine worst
 Realize value of “Unscared”
 Just do it!
MISCONCEPTIONS
 Great idea
 Easy
 Gamble
I AM AN ENTREPRENEUR
 I believe anything is possible
 I see opportunity when others see impossibility
 I take risks
 I Create
 I Learn
 I Grow
 I Do
SOCIAL ENTREPRENEURSHIP
 The world is a dangerous
place
 Not because of people
who do
 But because of those who
look and do nothing
SOCIAL BUSINESS (SB)
 Fall between traditional NGOs and for-profit companies
 Like NGOs primary objective to create social impact
 Operate like businesses
 Generate sufficient revenues to cover operating costs
BASIC UNDERSTANDING
 Applying business principles to social problems
 Increase efficiency, effectiveness, and financial
sustainability
SB
 Focus on neediest, most underserved segments
 Generates enough revenue to be self-sustaining
 Do not depend on donations or other external financial
support
 Maximize value delivered to society not financial value
delivered to shareholders
SB
 Non-loss, Non-dividend company
 Created to solve social or environmental problems
SB
 Social mission
 Generate revenues to cover costs
 Investors recoup investment
 Profits reinvested
SB
 Cause-driven business
 Financially sustainable
 Mission-oriented
7 PRINCIPLES OF SB
1. Business objective - overcome poverty, education,
health, technology access and environment); not profit
maximization
2. Financial and economic sustainability
3. Investors get back investment amount only; no dividend
given beyond investment money
7 PRINCIPLES OF SB
4. When investment amount paid back, profit stays with
company for expansion and improvement
5. Environmentally conscious
6. Workforce gets market wage with better working
conditions
7. Do it with joy!
Thank you!
09 797367944 & 09 797367955
Contact us for more information

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BFBM(9-2015)Role of entrepreneurship in rakhine's development