Topics to be discussed


1. The entrepreneurial Decision Process 2. Negative aspects of Entrepreneurship 3. Types of Start ups 4. Role of entrepreneurship in economic development 5.Types of Skills Required in Entrepreneurship 6.The entrepreneurial process 7.Managerial versus entrepreneurial decision making 8.Intrapreneruial leadership characteristics

which entails a movement. high interest rates. .The Entrepreneurial DecisionProcess  Deciding to become an entrepreneur by leaving present activity. from something to something-a movement from present somethinglifestyle to forming a new enterprise. The entrepreneurial decision process. and lack of infrastructure. economic uncertainty and high probability of failure. inflation.1. Millions of ventures are formed despite recession.

Government 2. Family 4. Marketing 4. Financing 5.Decision for a potential entrepreneur:              Changes from present lifestyle Work environment . Subculture 3. Disruption Form new enterprise Desirable 1. Background 3. Peers Possible 1. Role models . Culture 2. Teachers 5.

Can not give time for family ceremonies resulting misunderstandings 4. can not be open and frank to enjoy. Irregularity or uncertainty of income often facing bankruptcy 3. As always remain absorbed in business problems.2. powerful politicians and so on. Negative aspects of Entrepreneurship      1. Risk of losing invested capital 2. Become sometime unnecessary victim of conspiracies by partners. 5. competitors. .

Lifestyle firm  2. Gazelles  . Foundation company  3.3. Types of Start ups 1. High potential venture  4.

Government as an Innovator : A govt.Breakthrough Innovations: New products with some Innovations: technological change.Ordinary Innovation: New products with little technological 3.Iterative Synthesis: 2. . 6.Technology transfer : Commercializing the technology in the laboratories into new products.Iterative Synthesis: The intersection of knowledge and social need that starts the product development process.Technology 7. 5. 3.Product development: Process for developing and development: commercializing an innovation. 7. 4. Role of entrepreneurship in economic development        1.Government 6. 2.Ordinary Innovation: change.4.Technological Innovations: New products with significant Innovations: technological Advancement. active in commercializing technology.

Types of Skills Required in Entrepreneurship             Technical Skills Ø Writing Ø Oral communication Ø Monitoring environment Ø Technical business management Ø Technology Ø Listening Ø Ability to organize Ø Network building Ø Management style Ø Coaching Ø Being a team player .5.

           Business management skill: Ø Planning and goal setting Ø Decision making Ø Human relation Ø Marketing Ø Finance Ø Accounting Ø Management Ø Control Ø Negotiation Ø Venture lunch .

        Personal Entrepreneurial Skills Ø Inner control disciplined Ø Risk taker Ø Innovation Ø Change oriented Ø Persistent Ø Visionary leader and ability to manage change .

The Entrepreneurial process .  (3) determine the required resources and (4) manage the enterprise.  .  (2) development of the business plan.6. The process has four distinct phases:  (1) identification and evaluation of the opportunity.

Identify and Evaluate the opportunity: Opportunity assessment Creation and length of opportunity Real and perceived value of opportunity Risk and returns of opportunity Opportunity versus personal skills and goals Competitive environment.       1. .

Develop business plan  Title page  Table of contents  Executive summery  Major sections  Description of the business  Description of the industry Technology plan  Marketing plan  Financial plan  Production plan  Organization plan  Operational plan  Summery Appendixes   .2.

3.Resources required  Determine resources needed  Determine existing resources  Identify resource gaps and available suppliers  Develop access to needed resources  .

Manage The Enterprise: Development management style  Understand key variables for success  Identify problems and potential problems  Implement control system  Develop growth strategy  .4.

7.  commitment to opportunity.Managerial versus Entrepreneurial Decision Making Five key businesses dimensions :  strategic orientation.  control to resources and management structure  .  commitment to resources.

understands the environment is visionary and flexible creates management options encourage teamwork encourage open discussion builds a coalition of supporters persists .         Entrepreneurship within an existing organization.8.Intrapreneruial leadership characteristics.

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