Entrepreneurship

Dr. Faheem Qaisar Jamal

Lecture 1
 Objective of this Course

Understand the concept of Entrepreneurship

Enhance skills to become an effective
Entrepreneur in any institutional or social
environment.
Understand the internal, external and physical
environment of a business and develop a vision
to take prudent decisions.
Learn the art of remaining politically correct in
interactions and resolve the conflicts amicably.
 Broad Course Contents
Introduction to entrepreneurship
The Evolution of Entrepreneurship
Who Are Entrepreneurs?
The Entrepreneurial Personality
The Entrepreneurial Mind-Set
The Macro View
The Micro View
Developing the Vision
Encouraging Innovation
Human resources and the entrepreneurial organization: the
organizational perspective
 Broad Course Contents
Entrepreneurship in other contexts: non-profit and government
organizations
Developing an entrepreneurial culture
Corporate strategy and entrepreneurship
Leading the entrepreneurial organization
Assessing entrepreneurial performance
Management Versus Entrepreneurship
Concept of Balance: Simultaneous Looseness and Tightness
Avoiding Folklore: The Myths of Entrepreneurship
The Entrepreneur’s Confrontation with Risk
Stress and the Entrepreneur
What Is Entrepreneurial Stress?
 Broad Course Contents
Sources of Stress
Dealing with Stress
The Entrepreneurial Ego
Overbearing Need for Control
Unrealistic Optimism
Entrepreneurial Motivation
Overriding Desire for Success
The Entrepreneurial Mind-Set in Organizations—
Corporate Entrepreneurship
Reengineering Organizational Thinking
Developing Individual Managers for Corporate
Entrepreneurship
 Broad Course Contents
Developing Teams
The Ethical Side of Entrepreneurship
Opportunity Identification: The Search for New Ideas
Sources of Innovative Ideas
Ignorance of Legal Issues
Understanding the Key Financial Statements
Strategic Planning
The International Environment: Global Opportunities
Venture Development Stages
New-Venture Development
 Grade Distribution

Mid Term Exam 30 Percent

Homework/Assignments 10 Percent
Project 10 Percent
Final Exam 50 Percent
 Misc. Instructions
All classes are Smoke and Mobile Free.
Timely submission of Homework /Assignments is
mandatory and if not turned in when due, the
student will be graded negatively. Individual
homework means individual effort.

Homework may be submitted via E-Mail and

Fax in case individual is out of town/ Country
 About This Course

What is the difference?

 About This Course

This course is about developing

a mindset.!!!
 Entrepreneurship and the Education

Common question: Can entrepreneurship be

taught?
Asking the wrong question! The right question
is….

Can Entrepreneurs Learn?

 Home for Dreamers and Doers …..

“The reasonable man (woman) adapts himself (herself) to

the world.
 Home for Dreamers and Doers …..

“The reasonable man (woman) adapts himself (herself) to

the world. The unreasonable one persists in trying to adapt
the world to himself (herself).
 Home for Dreamers and Doers …..

“The reasonable man (woman) adapts himself (herself) to

the world. The unreasonable one persists in trying to adapt
the world to himself (herself). Therefore, all progress
depends on unreasonable men (and women).”

George Bernard Shaw

 What is an Entrepreneur?

“An Entrepreneur (ahn’tra pra nur) is a person who

organizes and manages a business undertaking,
assuming the risk for the sake of profit. Any person
(any age) who starts and operates a business is an
entrepreneur.”

“One who sees an opportunity, sizes up its value,

and finds the resources to make the most of it.”
 What is an Entrepreneur?

“Entrepreneurship is a management and leadership

style that involves pursuing opportunities without
regard to resources currently controlled.”
“Any attempt at new business or new venture
creation, such as self employment, a new business
organization, or the expansion of an existing
business, by an individual, a team, or an established
business.”
 What is an Entrepreneur?

“A way of thinking and acting that is opportunity

obsessed, holistic in approach and leadership
balanced for the purpose of value creation.”

A Way of Managing and Leading!

 What is an Entrepreneur?

ARE ENTREPRENEURS BORN or MADE?

Entrepreneurs are Innovators!

They have:
A strong desire to create something new.
A vision of how the business will grow.
AND
THE DRIVE TO MAKE IT HAPPEN!
Who is the Entrepreneur?
Entrepreneurship as Lifetime Philosophy

Religious
A Model of the
Entrepreneurial Process
A Model of the Entrepreneurship Process
 A Model of the Entrepreneurship Process

• Product Idea
– The world will NOT beat a path to the door of the inventor
of the better mousetrap
– Idea itself does not have value, it’s all about execution
– “Being first” is over-rated
– It is one among many relevant variable factors
– Look for Discontinuities
– How much R, how much D
 A Model of the Entrepreneurship Process

Why Entrepreneurs Plan

• Home Work
– Write Down the names of at least two Pakistani
entrepreneurs and write thirty typed lines on them
explaining why do you think they were
entrepreneurs
– One of you shall present his choice of at least one
entrepreneur out of the two picked and prepare five
to ten slides to explain his pick.
Thank You …………..