Entrepreneurship Lecture 1

Entrepreneurship
Lecture 1
Kapeel Kumar
MBA- Ms in HRM , Institute of business and
Technology.
Evaluation Breakup
Quiz
10
Mid-term 20
Assignments/Mini presentations/homework
Class participation & behavior
Term Project
Final Examination
10
10
35
15
Course Text & References

Lecture Presentation Slides
Our Class discussions
Text book: Decided Letter
Guest speaker presentation
Student presentations
Material from all of the above sources will be included in quizzes,

assignments and exams
Contact
Group on Facebook : Entrepreneurship by Kapeel Kumar

My email address: Kapeel2008@gmail.com
Mobile No : 03013440600 Whatsapp
Group Presentation Guidelines

Each presentation Group can have at most 2 students.
Taking part in presentation will be mandatory for each student
Allowed Time: 15 minutes
Last 5 minutes reserved for Question/Answer session
Total 15 marks assigned to these Student Presentations
One or two presentations will be conducted in each session, starting

from 3rd week
Students can suggest topics and get them approved by the instructor
In case if no group volunteers for presentation on a class day, groups will be

selected in top-down order from attendance sheet.
Topic must be related to the field of Entrepreneurship Model.
Group Presentation Guidelines
Students will be awarded marks for :

a. How clearly and confidently they present & explain their topic
b. How efficiently they utilize allotted time
c. How interesting is the presentation
d. Simply reading out slides text is strongly discouraged
e. Missing presentation delivery date will have serious repercussions
f. Presentation slides should be prepared in MS Power Point
Entrepreneurship
CHAPTER 1
The Entrepreneurial Life
Overview
What is an entrepreneur?
Characteristics of an entrepreneur
Planning to be an entrepreneur
Growth pressures, managing a
family business, and corporate
intrapreneurship
Entrepreneurship
10
One characteristic of
entrepreneurs stands out:
Diversity!
Anyone regardless of age, race,
gender, color, national origin, or
any other characteristic can
become an entrepreneur (although
not everyone should).
Chapter 1: Entrepreneurship
What Is an Entrepreneur?
One who creates a new business in
the face of risk and uncertainty for
the purpose of achieving profit and
growth by identifying opportunities
and assembling the necessary
resources to capitalize on them.
11
Benefits of
Entrepreneurship
The opportunity to:
Create your own destiny
Make a difference
Reach your full potential
Reap impressive profits
Contribute to society and to be
recognized for your efforts
Do what you enjoy and to have fun
at it
12
Who Are Entrepreneurs?
A person who starts and/or operates a

business.
Individuals who discover market needs

and launch new firms to meet those
needs.
Risk takers who provide an impetus

for change, innovation, and
progress.
All active owner-managers (founders

and/or managers
of small businesses).113
Entrepreneurs V.
Intrapreneurs
Entrepreneurs are people that notice

opportunities and take the initiative to
mobilize resources to make new goods and
services.
Intrapreneurs also notice opportunities and
take initiative to mobilize resources,
however they work in large companies and
contribute to the innovation of the firm.
Intrapreneurs often become entrepreneurs.
Intrapreneurship
Learning organizations encourage

intrapreneurship.
Organizations want to form:
Product Champions: people who take ownership of a

product from concept to market.
Skunkworks: a group of intrapreneurs kept separate
from the rest of the organization.
New Venture Division: allows a division to act as its
own smaller company.
Rewards for Innovation: link innovation by workers
to valued rewards.
1-2
Entrepreneurial Incentives
116
Who are entrepreneurs?
Common traits
Original thinkers
Risk takers
Take responsibility
for own actions
Feel competent
and capable
Set high goals and
enjoy working
toward them
Common traits
Self employed parents

Firstborns
Between 30-50 years
old
Well educated 80%
have college degree
and 1/3 have a
graduate level degree
Why People Become

Entrepreneurs
Reluctant Entrepreneur
A person who becomes an

entrepreneur as a result of some
severe hardship.
Refugee
A person who becomes an

entrepreneur to
escape an undesirable situation.
118
The Many Varieties of

Entrepreneurship
Founder (Pure Entrepreneur)
A person who brings a new firm into existence.

Administrative Entrepreneur
An entrepreneur who overseas the operations of a
ongoing business.
Franchisee
An entrepreneur whose power is limited by the
contractual relationship with a franchising
organization.
Entrepreneurial Team
Two or more people who work together as
entrepreneurs.
119
Artisan Entrepreneurs
Artisan Entrepreneur
A person with primarily technical skills and little
business knowledge who starts a business.
Characteristics:
Technical training
Paternalistic approach
Reluctance to delegate
Few sources of capital
Narrow view of strategy
Personal sales effort
Short planning horizon
120
Opportunistic
Entrepreneurs
Opportunistic Entrepreneur
A person with both sophisticated managerial skills and
technical knowledge who starts a business.
Characteristics:
Broad-based education
Scientific approach to problems
Willing to delegate
Broad view of strategy
Diversified marketing approach
Longer planning horizon
Sophisticated accounting
and financial control
121
Women Entrepreneurs
More Women Entrepreneurs
The number of women-owned firms grew nearly twice

as fast as that of all firms from 1997 to 2006.
Females owned 30% of all businesses as of 2006.
Women are moving into nontraditional industries.
Problems Facing Female Entrepreneurs
Newness of entrepreneurial role
Lack of access to credit
Lack of networking
connections
Discrimination
122
Getting Started
Age and Entrepreneurial Opportunity
Early Career Concerns
Late Career Concerns
1. Getting an education
1. Fulfilling family
responsibilities
2. Gaining work
experience
2. Attaining seniority
in employment
3. Acquiring financial
resources
20
3. Earning investment
in
a retirement program
25
35
Age
123
45
Getting Started (contd)
Taking the Plunge
Precipitating event
Finding Go-To Persons
An event, such as losing a job,

that moves an individual to
become an entrepreneur.
Mentors for advice and counsel
Growing and Managing the Business

124
Drawbacks of
Entrepreneurship
Uncertainty of income
Risk of losing your entire investment
Long hours and hard work
25
Ten Deadly Mistakes of

Entrepreneurship
1.
2.
3.
4.
5.
Management mistakes
Lack of experience
Poor financial control
Weak marketing efforts
Failure to develop a strategic
plan
Ten Deadly Mistakes of

Entrepreneurship
6.
7.
8.
9.
10.
Uncontrolled growth
Poor location
Improper inventory control
Incorrect pricing
Inability to make the
entrepreneurial transition

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Entrepreneurship

Class participation & behavior

Course Text & References

Our Class discussions

Text book: Decided Letter

Guest speaker presentation

Material from all of the above sources will be included in quizzes,

Group on Facebook : Entrepreneurship by Kapeel Kumar

Group Presentation Guidelines

Taking part in presentation will be mandatory for each student

Allowed Time: 15 minutes

Last 5 minutes reserved for Question/Answer session

Total 15 marks assigned to these Student Presentations

One or two presentations will be conducted in each session, starting

In case if no group volunteers for presentation on a class day, groups will be

Topic must be related to the field of Entrepreneurship Model.

Group Presentation Guidelines

Students will be awarded marks for :

The Entrepreneurial Life

Who Are Entrepreneurs?

A person who starts and/or operates a

Individuals who discover market needs

Risk takers who provide an impetus

All active owner-managers (founders

Entrepreneurs are people that notice

Learning organizations encourage

Product Champions: people who take ownership of a

Who are entrepreneurs?

Self employed parents

Why People Become

A person who becomes an

A person who becomes an

The Many Varieties of

A person who brings a new firm into existence.

Few sources of capital

Narrow view of strategy

Personal sales effort

Short planning horizon

More Women Entrepreneurs

The number of women-owned firms grew nearly twice

Females owned 30% of all businesses as of 2006.

Women are moving into nontraditional industries.

Problems Facing Female Entrepreneurs

Newness of entrepreneurial role

Lack of access to credit

Age and Entrepreneurial Opportunity

Early Career Concerns

Late Career Concerns

Getting Started (contd)

Taking the Plunge

Finding Go-To Persons

An event, such as losing a job,

Mentors for advice and counsel

Growing and Managing the Business

Ten Deadly Mistakes of

Ten Deadly Mistakes of

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