SESSION 1 AGENDA

ORIENTATION INTRODUCTION WHY ENTREPRENEURSHIP QUALITIES OF AN ENTREPRENEUR

ENTREPRENUERSHIP

*Entrepreneurship curriculum designed by Saad Sarfraz

Instructor`s Introduction

Name

Graduation

Professional Experience

Entrepreneurship Experience

Entrepreneurship

Nomenclature Dictionary Definition

Modern Day Connotation

Examples of Entrepreneurs Henry Ford Bill Gates Mian Mohammad Mansha (Pakistan)

Qualities of an Entrepreneur

Risk Taker Innovator Initiator Relentless Perfectionist Authority vs. Compliance

SESSION 2 AGENDA

• HISTORICAL DEVELOPMENT• THEORIES OF ENTREPRENEURSHIP

Historical Development of

Entrepreneurship

Historical Development

Major Contributors Richard Cantillon Jean-Baptiste Say Thomas Malthus Adam Smith David Ricardo John Stuart Mill Alfred Marshall Peter Drucker Joseph Schumpeter Frank H. Knight

Theories of Entrepreneurship

Classical Political Economic Theory (Eighteenth Century) Adam Smith Thomas Malthus David Ricardo John Stuart Mill Karl Marx

Marginal Utility School of Thought ( Nineteenth Century) John Bates Clark Alfred Marshall Thorstein Veblen John Rogers Commons

Theories of Entrepreneurship (continued)

Intellectual Innovation and Creative Destruction School of thought (Twentieth Century) John Robinson Edward Chamberlin John R. Hicks John Maynard Keynes Joseph Schumpeter

SESSION 3 AGENDA

• ECONOMIC SIGNIFICANCE OF ENTREPRENEURSHIP

• TYPES OF ENTREPRENEURS

• ANNOUNCEMENT PEC PROFILE PRESENTATION SESSION 4

Economic Significance of

Entrepreneurship

Economic Significance of Entrepreneurship

Linking Entrepreneurship to Economic Growth Employment Income Distribution GDP

Theoretical Findings Schumpeter's Theory of Long Waves

Empirical Findings Global Entrepreneurship Monitor (GEM)

Economic Significance of Entrepreneurship (Continued )

Conceptual Framework linking Entrepreneurship and Economic Growth

Economic Significance of Entrepreneurship (Continued )

GEM Conceptual Model

Types of Entrepreneurs

The Achiever

The Salesperson

The Manager The Inventor

SESSION 4AGENDA

• PRESENTATION 1

• BRIEF LECTURE ON THE TOPIC

Psychological Profile of Entrepreneurs

Presentations

Psychological Profile of Entrepreneurs

Personal Attributes

Environmental Factors

Sociological Factors Evaluating Opportunities for New Venture

Opportunity Timing Management Team Resources

SESSION 5AGENDA

•MARKET EVOLUTION•CREATIVEDESTRUCTIN AND INNOVATION

Market Evolution and Creative Destruction

Creative Destruction

“The era of the intelligent man/woman is almost over and a new era is emerging – the era of the creative man/woman” Pinchas Noy

Dynamics of Capitalism

Defining Creative Destruction

Competition and Creative Destruction

Creativity and Innovation

Role of creativity and major components of the creative process Knowledge accumulation Incubation process Idea experience Evaluation Implementation

Ways of developing personal creativity Recognize relationships Develop functional perspective Use “brains” Eliminate muddling mind-sets

Creativity and Innovation (continued)

Four major types of innovation Invention Extension Duplication Synthesis

Sources of innovation for entrepreneurs

Myths associated with innovation

10 principals of innovation

Financial support for innovation

SESSION 6AGENDA

Nurturing an Enterprising Culture

The Importance of Emulating Enterprising Culture

Max Weber

Impact of culture on business growth High productivity Savings Discouraging conspicuous consumption

Allan Gibbs’s definition of an enterprising culture

Role of Minority Culture

Pursuit of success in business and chosen profession

Starting at an early age

Minority cultures known for enterprising behavior Gujratis in India Sialkotis and Chiniotis in Pakistan Afghan traders in Bara markets Asians in East Africa Chinese in South Asia

Promoting Enterprising Culture

Enterprise award schemes and endorsements

Entrepreneurship and business education

Entrepreneurship apprenticeship schemes

Supporting youth associations

Entrepreneurship in career counseling

Macroeconomic policies for entrepreneurship

Resources for entrepreneurs

Motivation

Training and Capability Building

“ If money is your hope for independence, you will never have it. The only real security that a man can have in this world is a reserve of knowledge , experience and ability” Henry Ford

Competence as a function of knowledge, training and experience

Rationale for a training program

Awareness of strengths and weaknesses

SESSION 7 AGENDA

• PRESENTATIONS • BRIEF LECTURE

Presentation: How to Finance a New Business

Financing a Small Business (Risk-Return Payoff )

Personal Equity

Partnership

Debt Financing SME banks Loan against collateral

Venture Capital Angel Investors Venture Capital Firm

SESSION 8AGENDA

• EVALUATING OPPORTUNITIES FOR NEW BUSINESS

• DETERMINING RESOURCES NEED AND ACQUIRING RESOURCES

Conceiving a Business

Opportunity

Evaluating Resources for New Business

The Opportunity

The Customer

The Timing

The Management Team

Resources

Determining Resources Needs

Financial Capital Debt Capital Equity Capital

Physical Capital Land Building Machinery

Human Capital Skilled Labor Unskilled Labor

Acquiring Resources

Role of Entrepreneur

Function Ties all the Resources

Reward Profits Personal Satisfaction

Ingredients for a Successful Enterprise

Rosabeth Kantar's nine Fs for Successful Business

Founders first class Entrepreneurs Focused focus on niche market Fast decision making process Flexible response to changes Forever Innovating tireless Innovators Flat few layers of Management Frugal low overhead high productivity Friendly to

customer/suppliers/employees Fun to be associated with

SESSION 9AGENDA

• COMPONENTS OF A BUSINESS PLAN • WRITING A BUSINESS PLAN

Business Plan

Business Plan

What is a Business Plan Document illustrating the complete business

opportunity Road Map to reach set goals

Need for a Business Plan Identifies Needs Identifies Resources

Significance of a Business Plan

Identification of the Opportunity Financiers

Explains the opportunity to the financiers Need Analysis SWOT Analysis Setting Goals Rationalize Expectations Risk Management Visibility into operational issues (Marketing, Logistics ,

Budgeting etc.)

Components of a Business Plan

Cover Page Table of Contents Executive Summary Description of the Opportunity

Statement of Purpose Description of Business Alternative Option

Competition Market Strategy Location

Components of a Business Plan (Continued)

Management Personnel Application and Expected effect of Loan Exit Strategy Summary Appendices

Cash Flow Projections Income Statement Balance Sheet Supporting Material

S ESS IO N 10AGENDA

• IN TRO DUC TIO N TO MARKETING • W RITING A MAR KETIN G PLAN • PRES EN TATIO N 3 AN NO UN C EMEN T “ B U S I N E S S P L A N F I N A L B U S I N E S S

A C T I V I T Y ”

Marketing Plan for Small Business

Introduction to Marketing

Market Research /Need Analysis

Product Design

Product Development

Branding

Product Promotion

Product Distribution

Need Analysis

What a Consumer wants Smart Entrepreneurs are always on the lookout for

Opportunities

Most Successful Products create their own Demand

Methods of getting Information Market Research Data Surveys Consumer Perception

Product Design and Development

Design Consumer requirement Consumer Aesthetics Consumers Appeal Specifications Functionality

Development Quality Assurance

Branding Brand Loyalty Brand Equity

Types of Consumer Products

Convenience Products

Shopping Products

Specialty Products

Unsought Products

Promotion and Distribution

Promotion Avenues Advertisement Viral Marketing Internet Trade shows and Exhibitions

Distribution Defined network Supply Chain Management Logistics

Components of a Marketing Plan

Product

Price

Placement

Promotion

Service

SESSION 12AGENDA

• RESOURCES • SYNERGIES • TYING THESE TWO TOGETHER

Attracting Resources and Creating Synergies

Resources

Determining need for resources

Acquiring resources

Critical items should be obtained thriftily

Role of sub-contracting

Start-up capital; deciding between debt and equity

Profit potential

Financing

Debt or equity financingInternal or external fundsPersonal fundsFamily and friendsCommercial banksCash flow financingGovernment grantsPrivate placements

SESSION 17 AGENDA

• DEFINING A SMALL ENTERPRISE • REGISTERING A SMALL ENTERPRISE • LEGALITIES OF A SMALL ENTERPRISE

small Enterprise

Defining a Small Enterprise

Bolton Report definition

EU definition

Definitional aspects and problems

Policy considerations

Importance

SESSION 18AGENDA

• ACQUIRING FINANCE • ACQUIRING HUMAN RESOURCE• ACQUIRING PHYSICAL CAPITAL • ACQUIRING INTELLECTUAL CAPITAL • TYING THESE TOGETHER • DISCUSSION SESSION

Resource need of a Small Enterprise

Financing – A new Dimension for Small Enterprise

Early stage financingDevelopment financingAcquisition financingInformal risk- Capital marketVenture Capital

Nature of venture capital Overview of venture capital industry Venture capital process Locating and approaching venture capitalists

SESSION 19AGENDA

• SETTING UP HIERARCHIES • HUMAN RESOURCE MANAGEMENT • DISCUSSION: FORECASTING SALES• ASSIGNMENT FORECASTING

Small Business Human Resource Management

SESSION 20AGENDA

• MARKETING MIX• MARKETING STRATEGIES

Small Business Marketing Strategy

SESSION 21AGENDA

• WHY ADVERTISE• AVENUES OF ADVERTISEMENT •

Devising an Advertisement Campaign

SESSION 22AGENDA

• HOW TO BUDGET A SMALL BUSINESS

Budgeting a Small Enterprise

SESSION 23AGENDA

•BASIC ACCOUNTING FOR SMALL ENTERPRISE• BASIC RULES (TAXATION) FOR SMALL ENTERPRISE• HOME ASSIGNMENT

Small Enterprise Accounting and Taxation

SESSION 24AGENDA

•MANAGEMENT IN THE NEW ERA•TIPS FOR MANAGEMENT•STRATEGIES FOR SUCCESSFUL BUSINESS OPERATION

Business Management Tips for Small Enterprise