Group Member: Faizan Khalid Furqan Hasan Ali Afzal Talha Hanif Asad Bandeali Khurram Abbas Qadeer-ud-din

M.Zeeshan Francisco Romano

Self Discovery Identifying Opportunities Generating and Evaluating Ideas Planning Raising Start-up Capital

Start-Up Growth Harvest

Self Discovery: The act or process of achieving understanding or knowledge of oneself. Identifying Opportunity: Looking for needs, wants and problem that are not yet being met. Generating and Evaluating Ideas: Using creativity to devise new ways to solve problems and needs and then narrowing the field to one best one. Planning: Identifying resources needed to turn idea into viable venture.

Raising Start-up Capital: Using the business plan to attract the investors. Start-up: Launching the venture, developing a customer base and adjusting marketing and operational plans as required. Growth: Growing a business and developing and following the strategic plan. Harvest: Selling the business and harvesting the reward.

Develop Mission and Vision Statement

Assess the Strength and Weaknesses

Scan the Environment

The vision gives the reason for existence. Elements: It provides direction It determines decision It motivates people

It gives: the purpose of the company the business we are in the values of the company

Keep it short Keep it simple Measureable Realistic

Strengths: positive internal factors that a company can use to accomplish its mission. Weaknesses: negative internal factors that inhibit the accomplishment of a company s mission.

Opportunities: positive external option that a firm can exploit to accomplish its mission. Threat: negative external factors that inhibit a company s ability to achieve its mission.

Identify The Key Factors For Success

Analyze The Competition

Create Company Goals & Objectives

Formulate Strategic Options & Select The Appropriate

Translate Into Action Plans

Accurate Control

Key Success Factors.

 The factors that determine a company s ability to

compete successfully in an industry.

Competitor analysis.
 Direct Competitors  Indirect Competitors  Significant Competitors

What To See In Competitors.

   

Who they are? And where they are located. Their strategies. Marketing of product/service Strengths & Weakness.

Competitive Profile Matrix.

 A tool that allows a business owner to evaluate

their companies against major competitors using the key success factors for that market.

Goals.
 The broad, long-range attributes a business seeks

to accomplish; they tend to be general and sometimes even abstract.

Objectives.
 More specific targets of performance, commonly

addressing areas such as profitability, productivity, growth,& other key aspects.

Characteristics of Objectives Specific Measurable Assignable Realistic Timely Can be written down

Strategy
 A road map of the actions an entrepreneur draws

up to fulfill a company s mission, goals, and objectives.

Three options
 Cost leadership  Focus  Differentiation

Implementing the Strategy

Controlling the Strategy

 Balances Scorecard Customer perspective Internal business perspective Innovation and learning Financial perspective

What exactly do you mean by Entrepreneurial Management ?

Existing Business Public-Service Institution New Venture

What is Entrepreneurial Business?

EXISTING BUSINESS

Entrepreneurial Policies Entrepreneurial Practices Measuring Innovative Performance Structures Staffing Three Don ts

EXISTING BUSINESS

Entrepreneurial Policies

What is Entrepreneurial Policies

1.Entrepreneurial Policies Attractive innovation for managers - Linking innovation to internal staff
-

Capable People to work on innovation Allow Management to Innovate

2.Making an Existing Business greedy for new things -Analysis of the existing Product life cycle -Existing Advertising Strategies

3.Collecting Information 4.Systematic abandonment

EXISTING BUSINESS

Entrepreneurial Practices
 Focusing Managerial Vision on Opportunities  Generate Entrepreneurial spirit throughout the entire

Management Group
 Member of the Top Management sits down with the

junior people

EXISTING BUSINESS

Measuring Innovative Performance

 Feedback from results to expectation  Develop a systematic review of innovative efforts all

together
 Judging the company s total innovative performance

against its innovative objectives & its performance & standing in the market

EXISTING BUSINESS

Structure
 The new has to be organized separately from existing

& special locus for the new within the organization

 To keep away from it the burdens it cannot yet carry  Person or a component group should be held clearly

accountable

EXISTING BUSINESS

Staffing
 Decisions are made like any other decisions about

people and job  These are risk taking decisions  These decisions are made carefully  These decisions are made correct way

EXISTING BUSINESS

Staffing Process
 Checking the assignment  Considering the number of people  Checking the performance records

EXISTING BUSINESS

The Don ts
 Don t mix the entrepreneurial unit with the

managerial unit.  Innovate where it has expertise. Don t go for differentiation.  Don t buy small entrepreneurial businesses to make it one company.

PUBLIC SERVICE INSTITUTION

Institution providing services for general public.

Government agencies Schools and Universities Hospitals

PUBLIC SERVICE INSTITUTION

Public service institution find it far more difficult to innovate than even the most bureaucratic company

PUBLIC SERVICE INSTITUTION

The forces that hinder entrepreneurship and innovation in a public service institution are inseparable from it. The best proof of this are internal staff services in businesses.

PUBLIC SERVICE INSTITUTION

Reason of an obstacle to innovation faced by public service institution are:

First the public service institution is based on a budget rather than paid out of result. Success is being defined as by getting a larger budget rather than obtaining results.

PUBLIC SERVICE INSTITUTION

A business needs only a very small share of a market to be successful. Then it can satisfy shareholders workers. But public service institutions includes staff activities within a business corporation have no results of which they are being paid any constituent no matter how marginal has in effect a veto power.

PUBLIC SERVICE INSTITUTION

The most important reason however is that public service institution tend to see their mission as a moral rather than economic and cost benefit.

Causes that demonstrate entrepreneurial policies needed in public service institution to make it capable of innovation are

First public service institution needs a clear definition of its mission. It needs a realistic goal. Something that is genuinely attainable and a commitment to a realistic goal.

Failure to objective should be considered as an indication that objective is wrong or least defined. The objective should be economic rather than moral.

Need to build into their policies and practice the constant search for innovative and opportunity. Change should be considered as an opportunity rather than threat.

Public service institutions have become too important in developed countries. Public service institution have to be made productive and producing. They will have to learn to be innovators to manage themselves. For this they will have to look upon social, technological, economical and demographic shifts as opportunities in a period of rapid change

NEW VENTURE
Any new business involving some risks and expectations of gaining some thing.

    

A NEW VENTURE MUST HAVE: An idea Product or service Costs Sales Profits

A NEW VENTURE MUST NOT HAVE :  Established business  no developed products  High lump sum profits  Fully aware customers

Totally focusing on your idea Choosing all the resources as per your need Easy to bring changes Choose your own management team It can be a winner Make your own name

1) 2) 3) 4)

Focus on the market Financial foresight Building a management team Entrepreneurs role and decisions

    

THE NEED FOR MAKET FOCUS: Focus on the market as a whole Do not limit the product search for new markets and opportunities willing to do experiments focus on customers

FINANCIAL FORESIGHT: Poor Financial Forecast May Lead To: 1. Lack of Cash 2. Inability to raise the capital needed for expansion 3. Loss of control, with expenses, inventories, and receivables Essentials of effective Financial Foresight: 1. Cash flow management 2. Cash flow analysis 3. Cash flow forecast

BUILDING A TOP MANAGEMENT TEAM:

STEPS:
1. 2. 3. 4.

The founder with other key people think about their business. Identifying strengths and weaknesses. Keeping right people on right job. Finally setting of goals and objectives for each department.

WHERE CAN I CONTRIBUTE?: The Three Questions An Entrepreneur Ask Himself Are: 1. What do I like to do? 2. Where do I fit in? 3. What am I good at?

Need lot of efforts Hard to get finance People awareness Have to build a strong management to keep business rolling Productivity is not known