Entrepreneurship Activity

• Find someone who can tell you what

entrepreneurship means.
• Find someone who can tell you about the
meaning of entrepreneur.
• Find someone who can tell you about a
business he/she is particularly interested in.

Discuss your answers and make a creative

presentation.
Entrepreneurship
 What is Entrepreneurship?
• Academic Definition (Stevenson & Jarillo)
– Entrepreneurship is the process by which individuals
pursue opportunities without regard to resources they
currently control.
• Venture Capitalist (Fred Wilson)
– Entrepreneurship is the art of turning an idea into a
business.
• Explanation of What Entrepreneurs Do
– Entrepreneurs assemble and then integrate all the
resources needed –the money, the people, the business
model, the strategy—needed to transform an invention or
an idea into a viable business.

1-4
 What is an Entrepreneur?

ENTREPRENEURSHIP

Insane perseverance in the face

of total rejection.
 What Is An Entrepreneur?

ENTREPRENEUR

A vision-driven individual who

assumes significant personal and
financial risk to start or expand a
business.
 What Is An Entrepreneurship?

ENTREPRENEURSHIP

The pursuit of opportunity through

innovation, creativity and hard work
without regard for
the resources currently controlled.
 Entrepreneurship
• Entrepreneurship: a way of thinking,
reasoning, and acting that is:
– opportunity obsessed
– holistic in approach
– and leadership balanced
 Entrepreneurs: Born or Made?
• Is there inborn talent required?

• Assume that the answer is YES:

– then we can identify the main characteristics
– if we have them, fine - no others need to apply!
– we could start spotting talent in kindergarten
– we could "stream" these people
– we could discourage people without these
talents
• EXPECTATION SETTING
 COURSE OUTLINE
• MIDTERM
• The Development of the Business Plan
• Chapter 1: Planning the Enterprise
• Chapter 2 : Opportunity Seeking, Screening,
and Seizing
• Chapter 3: Getting to Know the Market
• Chapter 4: Let the Market Know You Better
• Chapter 5: The Right Product for the Right
Market
• FINAL TERM
• Business Implementation
• Chapter 6: Introduction to Business
Implementation
• Chapter 7 : Preparing , Analyzing, Forecasting
Financial Statements
• Chapter 8: Managing the Operations Function
•  Chapter 9: Managing the Human Resource
Function 
• Chapter 10: Managing the Finance Function
 SUBJECT REQUIREMENTS
1. Satisfactory Attendance
2. Written Work (25%)- Quizzes
3. Performance Tasks (45%)
- Seatwork
-Worksheet, MITA,
- Lecture Notebook
- Recitation (Individual Reporting)
4. Quarterly Assessment (30%)
- Mid Term and Final Exam
5. Integrative Group Project (COL)
Burch's Entrep. Personality Traits
1.A desire to achieve

Conquer problems, create successful venture
2.Hard work

Their workload is very hard to match
3.Nurturing quality
4.Acceptance of responsibility

Morally, legally and mentally accountable
5.Reward orientation

Want be rewarded for their efforts
Burch's Entrep. Personality Traits
6.Optimism

Anything is possible
7.Orientation to excellence

Pride in something first class
8.Organization

They are wholly "take charge" people
9.Profit orientation

Profit primarily a gauge of performance
 What is a Business Plan?
• Business Plan
– A business plan is a written narrative, typically 25 to 35
pages long, that describes what a new business plans to
accomplish.
• Dual-Use Document
– For most new ventures, the business plan is a dual-purpose
document used both inside and outside the firm.
Types of Business Plan

Types of Business Plans

4-17
 FORMAT OF A BUSINESS PLAN
I. Introduction
• A. The Business Concept and the Business
Model
B. The Business Goals: Vision, Mission,
Objectives and Performance Targets
C. The Business Offering and Justification
II. Executive Summary
III. The Business Proponents: Organizers with their
Capabilities and Contributions
IV. The target customers and the main value
preposition to the customer
V. The Market
VI. The Product and Service Offerings
VII. The Enterprise Strategy
VIII. The Financial Forecasts
IX. Environmental and Regulatory Compliance
X. The Capital Structure and Financial Offerings
CONTENTS OF THE BUSINESS PLAN
– The business plan should give clear and concise
information on all the important aspects of the proposed
venture.
– It must be long enough to provide sufficient information
yet short enough to maintain reader interest.
– For most plans, 25 to 35 pages is sufficient.
 The Business Concept
• - contains the essence of the enterprise in a
concise but powerful manner.
 BUSINESS MODEL
• - a formula on how the enterprise exactly
plans to make money out of the business