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Entrepreneurial management and Development report
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Entrepreneurial Development
Entrepreneurial Management
Entrepreneurial Development
Market Aspects and Factors
Know what your opponent’s strategies and movement
must be aligned to the dominant culture of your market demography
a favorable economic situation means the consumers have more purchasing power
Companies must always be updated in the latest technology
Competitor’s Marketing Activities
Economic Situation
Development in Technology
Socio-Cultural Factors
new laws and regulations may affect the business’ production
Political Factors political stability may affect businesses especially because it directly connects to the economy
Governmental Laws, Policies & Programs
Global & International Trade As with the growing globalization, situations in other countries may affect local businesses
Business Strategies
Focuses on providing uniqueness in product or service
Competing on Differentiation
Competing on CostFocuses on strategic pricing to match the target market demography
Competing on ResponseFocuses on the timely product development and delivery, as well as reliable and flexible scheduling
▪ Flexible Response
▪ Reliability of Scheduling
▪ Quickness
New Venture Summary & Business Plan
Screening : Choosing your Business
Macro-analysis
▪ Personal Preference
▪ Education/Training
▪ Work Experience
▪ Business Contacts
▪ Family Support
Micro-analysis
▪ Market Demand
▪ Technology
▪ Availability of labor/skills
▪ Availability of raw materials
▪ Financial/Capital Requirement
▪ Profitability
▪ Government Support
S.W.O.T Analysis
What advantages does your organization have ?
What do you do
better than anyone else?
Strengths
What unique resources can you use that others can't?
What do people in your market see as your
strengths?
What factors mean that you
"get the sale"?
What is your organization's Unique Selling Proposition?
Weaknesses
What could you
improve?
What should you
avoid?
What are people in your market likely to see as
weaknesses?
What factors lose you sales?
Opportunities
What good opportunities can you spot?
What interesting trends are you aware of?
• Changes in technology and markets
• Changes in government policy
• Changes in social patterns, population profiles, lifestyle changes
• Local events
ThreatsWhat obstacles do you face?
What are your
competitors doing?
Are quality standards or specifications for your job, products or services
changing?
Is changing technology threatening your position?
Do you have bad debt or cash-flow problems?
New Venture Summary
Parts of a Venture Summary▪ Marketing
▪ Management
▪ Technical/Production
▪ Legal
▪ Financial
Marketing PlanIs there an sufficient demand for the product going to be produced?
Supply & Demand Analysis
Supply – total number of your competitor’s customers
Demand – total population of your target market demography
Unsatisfied Demand– the difference between demand and the supply
Market Share – a percentage from the unsatisfied demand that you are most likely to keep
Competitive PositionAn analysis of the competitors – their products, services, & capabilities
Customer Needs AssessmentSeparated into two aspects : Real Needs and Perceived Needs
Promotional StrategiesProposed mechanisms to attract the market
Management PlanDetermines the appropriate business organization, the people who will be involved throughout the enterprise, and their functions
Forms of Ownership▪ Single Proprietorship
▪ Partnership
▪ Corporation
▪ Cooperation
Organizational Structure & Policies▪ Key Personnel
▪ Man Power Requirements
▪ Company Policies & Procedures
▪ Compensation & Benefits
Technical/Production PlanIdentifies whether the product could be produced at the highest possible quality level with minimum cost
▪ Manufacturing/Service Process
▪ Plant/Store Location
▪ Layout
▪ Factors of Production
▪ Waste Disposal
Manufacturing/Service ProcessDetailed flow chart indicating materials and energy requirements at each step, and the duration.
Plant/Store LocationDetermines whether the location is desirable in terms of distance to source of raw materials, markets, and other factors
Plant/Store LayoutShows the proposed physical structure of the business, and how it affects the daily process
Factors to ProductionMachinery – capacities of major machineries, price of equipment, availability of spare parts and repair service
Raw Materials – described specifically relating to their physical, mechanical and chemical properties
Utilities & Waste Disposal Indicates specific utilities like electricity, fuel, water, supplies and their respective uses, quantity required, availability of sources and costs
Legal & Financial PlanFocuses on the profitability level of the business. It involves a thorough coverage of all the monetary information of the enterprise and other legal requirements.
▪ Income Statements
▪ Balance Sheet
▪ Cash Flow
▪ Permits
a document containing the basic idea underlying a business and related considerations for starting up.
Business Plan
Contents of a Business Plan▪ Cover Page
▪ Executive Summary
▪ General Company Description
▪ Products/Services Plan
▪ Marketing Plan
▪ Management Plan
▪ Operating Plan
▪ Financial Plan
▪ Appendix
Cover Page▪ Company name, address and phone number
▪ Logo, if available
▪ Names, titles, addresses and phone numbers of the owners and key executives
▪ Date on which the plan is issued
▪ Number of the copy (to help keep track of how many copies are outstanding)
▪ Name of preparer
conveys a clear and concise picture of the proposed venture
describing the user benefits of the product or service and the type of market that exists
contains the type of business, firm’s objectives and location
describes the product/service and its merits
Executive Summary
General Company Description
Product/Services Plan
Marketing Plan
contains the supplementary documents
describes the new firm’s facilities, labor, raw materials and processing requirements
Management Plan describes the key players in the organization and their qualification
Operating Plan
Financial Planprovides an account of the new firm’s financial needs and sources of financing and a projection of its revenues, costs and profits.
Appendix