PURSUIT OF KNOWLEDGE

BY: GROUP 4
ENT A
8
KNOWLEDGE

• Is a familiarity , awareness , or understanding of someone or something, such

as facts , information, descriptions, or skills, which is acquired through
experience or education by perceiving, discovering, or learning.
DIFFERENT LEVELS OF ANALYSIS
• FIRM LEVEL – the interrelations between knowledge and entrepreneurship are grounded
in the context of small and medium sized enterprises.
The success of SMEs may have a significant impact on the economic growth of a
nation.
 Knowledge is considered as an IMPORTANT ASSET of firms:
- Resource – based view
- Knowledge based view
- Dynamic capabilities perspective
KNOWLEDGE IS A KEY INGREDIENT OF A FIRM’S
INNOVATIVE CAPACITY.
KNOWLEDGE REQUIRED TO SUCCEED AS AN
ENTREPRENEUR
Manager of the enterprise should be generalist and gain basic skills and
knowledge in managerial functions such as
 MARKETING

A Manager also should have an overview of

FINANCE

MARKET
DEVELOPMENT

COMPETITIONS
Baldwin summarized these areas, which should be in attention for the small
enterprises:
 Insufficient use of consultancy services
 Lack of Equality
 Unwillingness to delegate responsibilities
 Key personnel leaving the enterprise
 Personal issues concerning the owner/manager
FUNDAMENTAL MANAGEMENT KNOWLEDGE FOR
ENTREPRENEURS
Being a manager is not an easy task due to the work with the people. Nonetheless, there
certain personal abilities, which can predict the future efficiency and success of a manager.
Creativity- ability to search and find new solutions
Intuition – be able to predict the future development from own experience without
analysis
Goal–Oriented – be able to set real goals and respect the goal’s hierarchy
Responsibility – sense for achieving set goals & objectives
Self–confidence – belief in own strength and ability to achieve goals
Initiative – an effort to look for new possibilities and solutions for reaching the set goals
Independence – the courage to make decision based on own judgement
Cautiousness - be able to make decision under stress and unsure conditions
Scrupulosity – support social values and norms
Discipline – Self-control and regulation of own behavior
Persistence – tenacity needed to overcome barrier when achieving goals
Optimism – Orientation towards positive goals and things in connection with faith and
success
Fantasy – creation of visions and imaginations about future
THE ROLES IN ENTERPRISES

• Interpersonal Roles – Figurehead, leader , liaison

• Information Roles – Monitor, Disseminator , Spokesperson
• Decision making role – Entrepreneur, Disturbance handler , Resources Allocator
Negotiator
BASIC MANAGERIAL SKILLS

TECHNICAL – ability of manager to use specific methods and techniques

INTERPERSONAL – Knows how to lead people
CONCEPTUAL – this is a must for middle or top manager. “Grasp the whole
picture”
COMMUNICATION – ability to disseminate and receive information
IT IS NECESSARY TO POINT OUT THAT ANY ATTEMPT TO IDENTIFY UNIVERSAL KEY SKILLS NEEDED FOR SMALL
ENTERPRISES CANNOT BE COMPLETE AND STRAIGHTFORWARD DUE TO THESE FOLLOWING REASONS:

o The population of SMES is vast and diverse

o In connection to the size emerges the level of “development stage” – the
older the enterprise gets , the more complex and sophisticated it becomes
o In connection to area of business – various types of industry have different
needs for intensity of knowledge.
EDUCATION FOR SMALL ENTERPRENEURS
THREE TYPES OF POSITIONS FOR RUNNING AN ENTERPRISE:

TECHNICIAN MANAGER
ENTREPRENEUR
BUILDING YOUR BRAND
PERSONAL BRANDING

Is the process of developing a “MARK” that is created around your name or your
career. You can use this “MARK” to express and communicate your skills ,
personality , and values.
A strong personal brand will impact your ability to get the right jobs, promotions,
and increase your ability to attract talent and capital.
YOU CAN USE PERSONAL BRANDING IN SEVERAL
WAYS:
 To build your own company as an entrepreneur or consultant
To market yourself to a company and increase your value as a potential
employee
To build your own credibility for future ventures
BASICS OF BRANDING

BRANDS can be identified in two ways :

 a brand can be an IDENTIFICATION or a MARK
A brand SYMBOLIZES how people think about your business
NEED OF BRAND
Building a brand just means communicating your message to them more
effective so they immediately associate your business with their requirements.
Brands can help increase turnover by encouraging customer loyalty and are
particularly useful if you are in a fast-moving sector.
CHARACTERISTICS OF SUCCESSFUL BRANDS

With the volume of competition that businesses face in most industries, it is never
been more important to stand out and develop a unique identity and value
proposition through strategic branding. Effective branding is often at the heart
of the companies that thrive
AUDIENCE KNOWLEDGE

The BEST brands have a thorough understanding of the demographics of their

target market , what their interest are , and how they communicate.
Understanding the target market is critical because it provides direction for the
tone and reach of a marketing campaign, along with the overall identity of a
brand , while helping to create an organic , human connection between a
business and it’s audience.
UNIQUENESS

Establishing a brand identity requires something distinctive. Creating an identity

within a niche does not demand a revolutionary idea. It simply needs to have
one SPECIAL thing that separates it from the competition.
PASSION
Also helps businesses persevere through inevitable setbacks
CONSISTENCY
That is why it is so important to adhere to a certain quality standard with a
product or service.
COMPETITIVENESS
For a brand to make a name for itself, team members should thrive on
competition and constantly strive to improve.
EXPOSURE
Another big part of being recognized as a distinctive, successful brand is the
ability to reach consumers through multiple channels.
LEADERSHIP
To coordinate the efforts of team members and guide a strategic vision for a
brand, someone has to step up and steer the ship. The leader resolves
complications and acts as a liaison between different departments to keep
everyone on the same page.
BRAND CONSISTENCY
This will enable your customers to instantly distinguish your products or services
from those of a competitor.
MEMORABLE TAGLINE AND LOGO
Your logo does not need to be fancy , but it should enable a customer to
automatically recognize your products and services.
RECOGNIZABLE LOGO VARIATIONS
Make sure your logo variations maintain you single brand identity, while
allowing for different sizing and uses across various media.
FAMILIAR COLORS , FONTS AND IMAGERY
Make sure your colors, Fonts and Imagery are consistent and easily
identified.
CONSISTENT TONE AND MESSAGING
Develop specific brand guidelines so that everyone managing the different
components of your business always communicate with customers in the same tone
and voice.
ONGOING COMMITMENT
Do not rush with the first branding idea that comes to mind.
MEMORABLE TAGLINE AND LOGO

3 Step Process
1.Dump out your entire business in a few sentences.
2.Trim it down
3.Trim it down to one sentence.
SUMO( EXAMPLE)

1." We create tools that go into any webpage that help promote and share
your website to get more traffic through several tools: share buttons, welcome
mats and more. We make these tools really easy to use."
2."Tools that go out your webpage to help promote and share your website to
get more traffic"
3." Tools to grow your website traffic"