Department of Mechanical Engineering

Business Development &

Entrepreneurship
Instructor
Engr. Waheed Gul
MSc. Mechanical Engineering (Dynamics & Control)
PhD (Automation & Control) in progress
Cell # +923008363243,+923481359349
Email: waheedciel@gmail.com
 Entrepreneurial
Department of Mechanical Engineering
Ecosystem in Pakistan
 Current Entrepreneurial Landscape/Existing
Practices

GDP
Learning Objectives
 Pakistan’s  Entrepreneurial Ecosystem  & the Six
Domains

 Strategy with Long-­‐Term Impact

Entrepreneurial Ecosystem
Entrepreneurship ecosystem is the social
and economic environment affecting the local or
regional entrepreneurship
 Current Entrepreneurial
Landscape/Existing Practices
Department of Mechanical Engineering

 Most common way to determine economic growth is GDP

 GDP is the value of everything, All the goods and services

which are produced in a respective economy within a given year.
Introduction
 It signifies two things: whether the country is getting richer
or poorer, and if the country’s economy is getting better or
worse.
 Eventually increase or raise the standard of living.

Two Important Questions
a) Where does Pakistan stand in this scenario?
  b) Is there a lack of potential for growth?
 
 Where does Pakistan stand?
Department of Mechanical Engineering  
 We have a growing semi-­‐industrialised economy that relies heavily on
agriculture, manufacturing and remittances.

 The GDP growth rate was 3.5%,(lowest in 4 years).

 Private Investment fell by 1.6 %.

 Investment in Manufacture sector fell by 27 %.

 
 
(PES 2013-2014)
 Is there a lack for potential for growth?
Department of Mechanical Engineering  
 Pakistan has the potential to become the world 18th largest economy by 2025 .
(British economist, Jim O’Neill,  book 'The Growth Map’)

 More than 60 % population is under 30 years.

 Youth literacy is 70 %.

 Economic growth rate was 2.9 % (2007-2008), however it grows by 7 % (2

millions new entrants in the job market).

 Problems of unemployment leads to low economy and poverity.

 
 How to increase GDP?
Department of Mechanical Engineering  
 Creating more opportunities for people to work, more production needed.

 Helping people work more efficiently, increase in production and services.

 GDP increase will be based on the 4 factors:

 4 Factors for increasing GDP
Department of Mechanical Engineering

1. Availability of and investment of Human Capital

 Any skill, Talent, Education or ability that human workforce posses and the
value that these things bring to the market place.

 We may conclude that the literacy level of a nation has a huge impact on the
quality and capacity of human capital.

 Nations which invest in the development of their human capital will have
workforce available which can produce more goods and services.

 The more training people receive, the more in position they are to think
creatively and innovate existing ways of doing things.

​
 4 Factors for increasing GDP
Department of Mechanical Engineering

2. Availability of and investment in capital goods

 These are all the goods which are required to produce goods and services in
an economy.

 The more capital goods a country has, the more potential it has to further
create goods and services, which henceforth helps to improve the GDP.

 Money here should not be treated as a capital good; it is simply a medium of

exchange or a by-­‐product of economic activity.

​
 4 Factors for increasing GDP
Department of Mechanical Engineering

3. Availability of natural
resources
 Pakistan is abundant in natural resources, and has a strong advantage over
other countries that need to import natural resources to produce required
goods.

 The effective utilisation and exploitation of natural resources helps to create

a pool of raw-­‐material which is locally available.

 This hence helps to bring down the cost of production for many good and
associated services that are created.

​
 4 Factors for increasing GDP
Department of Mechanical Engineering

4. Entrepreneurship

 Entrepreneurship is taking a risk to produce a good and service at certain

prices and then selling them at uncertain prices in the market.

 Rising unemployment turns out to be a blessing in disguise for the growth of

entrepreneurship in Pakistan

 However, what we need is sustainable growth so the country’s economy and

market can create jobs and opportunities for growth for an increasing
population.

​
 Pakistan’s Entrepreneurial Ecosystem &
Department of Mechanical Engineering
the Six Domains
Ecosystem of Entrepreneurship

 A system comprising of
individual, organisational and
institutional elements, which are
separate from the individual
entrepreneur.
 Ecosystems are composed of
Six domains:

​
 Case Study / Research Papers
20 % Marks
Department of Mechanical Engineering

1. Modeling of Digital Entrepreneurship Structure for the

Development of Pakistan economy

2. Modeling of Entrepreneurship education & Training in Pakistan /

Entrepreneurship education and training needs to be developed in
Pakistan

3. The Social, Physiological and economic dimensions of entrepreneurship in

Pakistan
4. The Current status and Future development of entrepreneurship in Pakistan
Department of Mechanical Engineering

Quiz No.1
Next Class
Assignment: 1, Pakistan’s Entrepreneurial Ecosystem & the Six Domains
Next Class
Department of Mechanical Engineering