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
 1.The Entrepreneurial
DecisionProcess
 Deciding to become an entrepreneur by
leaving present activity. Millions of ventures
are formed despite recession, inflation, high
interest rates, and lack of infrastructure,
economic uncertainty and high probability of
failure. The entrepreneurial decision process,
which entails a movement, from something
to something-a movement from present
lifestyle to forming a new enterprise.
 Decision for a potential
entrepreneur:
 Changes from present lifestyle Form new enterprise
 Work environment Desirable
 . Disruption 1. Culture
 2. Subculture
 3. Family
 4. Teachers
 5. Peers
 Possible
 1.
Government
 2. Background
 3. Marketing
 4. Financing
 5. Role
models
 2. Negative aspects of
Entrepreneurship
 1. Risk of losing invested capital
 2. Irregularity or uncertainty of income often
facing bankruptcy
 3. Can not give time for family ceremonies
resulting misunderstandings
 4. Become sometime unnecessary victim of
conspiracies by partners, competitors,
powerful politicians and so on.
 5. As always remain absorbed in business
problems, can not be open and frank to
enjoy.
 3. Types of Start ups

 1. Lifestyle firm
 2. Foundation company
 3. High potential venture
 4. Gazelles
 4. Role of entrepreneurship in
economic development
 1.Product development: Process for developing and
commercializing an innovation.
 2.Iterative Synthesis: The intersection of knowledge and social
need that starts the product development process.
 3.Ordinary Innovation: New products with little technological
change.
 4.Technological Innovations: New products with significant
technological Advancement.
 5.Breakthrough Innovations: New products with some
technological change.
 6.Government as an Innovator : A govt. active in commercializing
technology.
 7.Technology transfer : Commercializing the technology in the
laboratories into new products.
 5.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
 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
 6.The Entrepreneurial process
 . The process has four distinct phases:
 (1) identification and evaluation of the
opportunity,
 (2) development of the business plan,
 (3) determine the required resources and

(4) manage the enterprise.

 1.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.
2.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
 3.Resources required
 Determine resources needed
 Determine existing resources
 Identify resource gaps and available
suppliers
 Develop access to needed resources
 4.Manage The Enterprise:
 Development management style
 Understand key variables for success
 Identify problems and potential problems
 Implement control system
 Develop growth strategy
 7.Managerial versus
Entrepreneurial Decision
Making
 Five key businesses dimensions :
 strategic orientation,
 commitment to opportunity,
 commitment to resources,
 control to resources and management
structure
 8.Intrapreneruial leadership
characteristics.
 Entrepreneurship within an existing organization.
 understands the environment
 is visionary and flexible
 creates management options
 encourage teamwork
 encourage open discussion
 builds a coalition of supporters
 persists