Date post: | 22-Nov-2014 |
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PRESENTATION-BUSINESS IDEA AND
ITS EVALUATION
PART-I ENTREPRENEURSHIP IN A
CHANGING ENVIRONMENT
TRENDS IN ECONOMIC DEVELOPMENT
IMPORTANCE OF HUMAN RESOURCES
TECHNOLOGY AS A RESOURCE
HIGH DEGREE OF COMPETITION
IMPORTANCE OF INNOVATION
GOVERNMENT AS STIMULATOR
ENTREPRENEURIAL/INTRAPRENEURIAL DEVELOPMENT
QUALITY AS A GOAL
INNOVATIVE CAPITAL FORMATION
SUPREMACY OF THE CUSTOMER
COLLABORATIVE RELATIONSHIPS-ACADEMIA/INDUSTRY
WOMEN ENTREPRENEURS
MANAGERIAL SKILLS
TOP
MID
FIRST
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WHO/WHAT IS AN ENTREPRENEUR
“AN INDIVIDUAL WHO BEARS THE RISK OF OPERATING A BUSINESS IN THE FACE OF UNCERTAINTY ABOUT FUTURE CONDITIONS”
ENCYCLOPAEDIA BRITTANICA
“AN ENTREPRENEUR IN AN ADVANCED ECONOMY IS
AN INDIVIDUAL WHO INTRODUCES SOMETHING NEW
IN THE ECONOMY- A METHOD OF PRODUCTION NOT
YET TESTED BY EXPERIENCE IN THE BRANCH OF
MANUFACTURE CONCERNED, A PRODUCT WITH
WHICH THE CONSUMERS ARE NOT FAMILIAR, A NEW
SOURCE OF RAW MATERIALS, NEW MARKETS AND
THE LIKE----TO REFORM OR REVOLUTIONIZE THE
PATTERN OF PRODUCTION BY EXPLOITING AN
INVENTION------”
JOSEPH SCHUMPETER
INNOVATION
NEW QUALITY
NEW MKTS
NEW PRODUCT
NEW SOURCE OF SUPPLY
CHANGES IN ORG
CHANGES IN MKT
CHARACTERISTICS OF AN ENTREPRENEUR
DRIVER OF CHANGE
CALCULATED RISKS
SUCCESS/FAILURE
PLANNING ACTIVITIES
IS PROGRESSIVE
NEW TECHNOLOGY FOR IMPROVEMENT
CUSTOMER NEEDS
CREATING VALUE
OPPORTUNITIES
MGT AND ADMIN
TODAY ENTREPRNEUR-------
PERCEIVES OPPORTUNITIES FOR PROFITABLE INVESTMENT
OBTAINS NECESSARY INDUSTRIAL LICENCES
ARRANGES INITIAL CAPITAL
PROVIDES PERSONAL GUARANTEES
SUPPLIES TECHNICAL KNOWHOW
PART II-YOUR CURRENCIES
IF YOU HAVE BUILT CASTLES IN THE AIR, YOUR WORK NEED NOT BE LOST;THAT’S WHERE THEY SHOULD BE. NOW PUT THE FOUNDATION UNDER THEM
HENRY THOREAU
ASK YOURSELF------- WHAT IS IT THAT DRIVES YOU? WHAT ARE YOUR CURRENCIES? Are they--- MONEY RECOGNITION COURAGE VICTORY ACCEPTANCE HEALTH
TAKE ADVANTAGE OF ---- A DISCERNING EYE ABILITY TO ASSESS A BUSINESS RISK DURABILITY EARLIER ON GOOD PLANNING-FINANCIAL AND OPERATIONAL
MILESTONES PROFESSIONAL PRESENTATION AND COMMUNICATION. TEAM ORIENTED APPROACH
“FORGET ABOUT BEING RICH: BE RICH IN YOUR HEART, IN YOUR SOUL, IN YOUR MIND”
RAY KROC
WATCH OUT FOR----- SHORT TERM THINKING UNFORGIVING NATURE WITH STAKE HOLDERS EMOTIONAL INSTABILITY LONER MENTALITY LACK OF BALANCE SELF- ABSORBED PEOPLE ACRIMONY LOSS OF FOCUS FEAR OF MAKING TOUGH DECISIONS
“STARTING YOUR OWN BUSINESS IS MORE THAN JUST A PROFESSIONAL PATH– IT IS A WAY OF LIFE”KALIEL ISAZA TUZMAN
ENTREPRENEURIAL TRAITS
RISK TAKING INNOVATION
VISION
VALUES
ORG SKILL
OP EXCELLENCE
ETHICS
CHARACTER
PROFILES OF NON ENTREPRENEURS
SHOTGUN SAM IDENTIFIES NEW PROMISING BUSINESS OPPOR-
TUNITIES-RARELY
FOLLOWS THRU
SIMPLICITY SUE TYPE WHO THINKS
BUSINESS IS A SERIES
OF SIMPLE SOLNS
PRIMA DONNA PAUL IN LOVE WITH HIS OWN IDEAS-
DOES NOT GIVE
OR ACCEPT HELP
RALPH THE ROOKIE THEORETICAL
UNDERDOG ED ATTENDS SEMINARS-NOT ACTION-
ORIENTED
INVENTOR IRVING IS CONCERNED MORE WITH
INVENTION
THAN WITH
PRACTICAL USE
PARADIGM SHIFTS IN ORGANIZATIONAL DESIGN
VERTICAL
STRUCTURE
HORIZONTAL
STRUCTURE
ROUTINE TASK
EM-
POWERED
ROLES
FORMAL
SYSTEMS
SHARED
INFO
RIGID
CULTURE
ADAPTIVE
CULTURE
COMPETI-
TIVE
STRATEGY
COLLABORA-
TIVE
STRATEGY
PART III CHOOSING AN IDEA
CHOOSING AN IDEAIMPORTANCE OF CHOOSING MORE THAN ONE IDEA
WEIGH INTRINSIC CAPABILITIES OBJECTIVELY
AMOUNT OF EXPERIENCE AT HAND
DEGREE OF PROFITABILITY IN THE PROJECT
LOCATIONAL ADVANTAGES
IMPORTED/INDIGENOUS RAW MATERIAL/MACHINERY
AVAILABILITY OF WORK FORCE
TECHNOLOGY
ADOPTION PROCESS
AWARENESS
INTEREST
EVALUATION
TRIAL
ADOPTION
SWOT ANALYSISEDUCATIONAL BACKGROUND
KNOWLEDGE OF FINANCE AND MARKETING
FINANCIAL STRENGTHS
COMMITMENTS
EXPERTISE AND INTEREST
PERSONAL QUALITIES
PRIOR EXPERIENCE
CONSUMER BEHAVIOUR
WHAT DO PREOPLE/ORGANIZATIONS BUY
WHAT DO THEY WANT AND CANNOT BUY
WHAT DO THEY BUY AND DON’T LIKE
WHY DO THEY BUY
WHERE DO THEY BUY
WHAT ARE THEY BUYING MORE OF
WHAT ELSE MIGHT THEY NEED BUT CANNOT GET
CHANGES IN PRODUCTS
LARGER/SMALLER/HEAVIER/LIGHTER/FASTER/SLOWER.
CHANGE OF COLOUR,MATERIAL AND SHAPE
ALTERING QUALITY/QUANTITY
INCREASING MOBILITY/ACCESS/PORTABILITY/
DISPOSABILITY
SIMPLIFYING REPAIR/MAINTENANCE
AUTOMATION/CONVENIENCE
NEW FEATURES/ACCESSORIES/EXTENSIONS
IMPROVING USABILITY/PERFORMANCE/SAFETY
BROADENING/NARROWING RANGE
IMPROVING QUALITY OF SERVICE
LOCATING IDEAS/SUGGESTIONS
FRIENDS/RELATIVES
ONE IDEA TO SPARK A BETTER ONE
EXISTING ENTREPRENEURS
TRADE MAGAZINES
KEEPING UP WITH CURENT EVENTS
INVESTIGATING OTHER MARKETS
R AND D
GOVERNMENT
TASKS AT HAND
DISCUSS PRODUCTS/SERVICES WITH PROSPECTIVE CUSTOMERS
ASSESS MARKET USING DESK AND FIELD RESEARCH
ANALYSE COMPETITION
CONSIDER START UP STRATEGIES
PREPARE INITIAL FINANCIAL PROJECTIONS
PREPARE SIMPLE ACTION PLAN
CRITICALLY EXAMINE IDEA FROM ALL ANGLES
SUBSEQUENT STEPSDETAILED MARKET RESEARCH
PRODUCT RESEARCH/DEVELOPMENT TESTING
START UP AND DEVELOPMENT STRATEGIES
OUTLINE BUSINESS PLAN
IDENTIFY KEY RESOURCES/COMMUNICATION NEEDS
SELECTION OF COMPANY NAME/LOGO, METHOD OF OPERATION
LEGAL ASPECTS
PROFESSIONAL ADVICE
SKILLS AUDIT
OPERATION WITHIN EXPERTISE/RESOURCES
SMART TARGETS
SIMPLE PLAN
EXTERNAL INFLUENCES(PESTLE ANALYSIS)
PRIORITIZING WORK
ACTION PLANS FOR SELF DEVELOPMENT-CPD
PPAND D PROCESSIDEA STAGE
IDEA
EVALUATION
CONCEPT STAGE
LAB DEVELOPMENT
EVALUATION
PD STAGE
PILOT PRODUCTION RUN
EVALUATION
TEST MARKET STAGE
SEMI-COMMERCIAL PLAN TRIALS
EVALUATION
PRODUCT LIFE CYCLE
INTRODUCTION GROWTH MATURITY DECLINE
DETERMINING NEED FOR NEW PRODUCT IDEA
TYPE OF NEED
TIMING OF NEED
COMPETING WAYS TO SATISFY NEED
PERCEIVED BENEFIT/RISK
PRICE VS PERFORMANCE FEATUTRES
MARKET SIZE AND POTENTIAL
AVAILABILITY OF CUSTOMER FUNDS
CASH OUTFLOW
CASH INFLOW
NET CASH FLOW
PROFIT
RELATIVE RETURN
COMPARED WITH OTHER INVESTMENTS
UNDERSTANDING OF PPAND D
CLEAR UNDERSTANDING OF AVAILABLE TECHNOLOGY AND FUTURE TRENDS
UNDERSTANDING EXISTING PRODUCTS IN THE MARKET
MARKET SEGMENTATION/TARGET MARKET
INVOLVES STUDY OF PIM, PID, PIC.
IMPACT OF PRODUCT IN THE MARKET
LAUNCH TIMING,RISK, INTENDED PRODUCT PERFORMANCE
NATURAL GOALS
COMPETITIVE ADVANTAGE
FINANCIAL PERFORMANCE
CUSTOMER RELATIONSHIP/PREFERENCE
CORPORATE STEWARDSHIP
SUSTAINENCE OF CUSTOMER BASE
FORESIGHT AND EVOLUTION
PROBLEMS AND CHALLENGES
UNCLEAR/CONFLICTING GOALS
STRATEGIC MIS –MATCH
PROCESSES AND PROCEDURES
INFORMATION/ASSUMPTION
LEADERSHIP AND MANAGEMENT
LEADERSHIP ISSUES
PERSONAL CHARACTER
MASTER COMPETENCIES
SET DIRECTIONS
BUILDING ORGANIZATIONAL CAPABILITIES
MOBILIZING INDIVIDUAL COMMITMENT
PART IV EVALUATION OF
THE IDEA
FOURTEEN BASIC QUESTIONSWHAT IS THE NEED YOU FILL AND THE PROBLEM YOU SOLVE
WHO ARE YOU SELLING TO
HOW WOULD YOU MAKE MONEY
HOW WOULD YOU DIFFERENTIATE YOUR COMPANY
WHAT ARE THE BARRIERS TO ENTRY
HOW MANY COMPETITORS/THEIR QUALITY
HOW BIG IS YOUR MKT(IN MONEY TERMS)
HOW FAST IS THE MARKET GROWING/SHRINKING
WHAT PERCENTAGE OF THE MARKET DO YOU BELIEVE YOU COULD GAIN
WHAT TYPE OF COMPANY WOULD THIS BE
HOW MUCH WOULD IT COST TO START UP
DEBT CAPITAL OR RAISE INVESTMENT-WHAT TYPE
DO YOU PLAN TO SELL YOUR COMPANY OR GO PUBLIC ONE DAY
WHAT WOULD BE THE RETURN YOUR INVESTORS WOULD GET IF THEY INVEST IN YOUR VENTURE
RAMP MODELR-RETURNR-EXIT STRATEGY
R-IS IT PROFITABLE
R-TIME TO BREAK EVEN
R-INVESTMENT NEEDED
A-ADVANTAGESA-COST STRUCTURE
A-BARRIERS TO ENTRY
A-INTELLECTUAL PROPERTY
A-DISTRIBUTION CHANNEL
M-MARKETM-NEED
M-TARGET MKT
M-ANALYSIS OF TGT MKT/SIZE
M-PRICING
P-POTENTIAL
P-RISK/REWARD
P-THE TEAM
P-TIMING
P-GOAL FIT
LEGAL ISSUESPATENTS
TRADEMARKS
TRADE SECRETS
COPYRIGHTS
LICENSING
CONTRACT
PRODUCT SAFETY AND LIABILITY
INSURANCE
SELECTING A LAWYER