Exploring Self and SocietyExploring Self and Society

Objectives Sharing your values with others and connect you

with socio-economic needsTo discuss the main theories of entrepreneurship.To discuss the main frameworks related to

entrepreneurship.Teaching MethodologyTeaching MethodologyIntroducing the topic and framework of discussionSyndicate discussion in groupsIntroducing theories

Certain Fallacies about Entrepreneurship Certain Fallacies about Entrepreneurship Entrepreneurs are only doers but not thinkers. Entrepreneurs are born and not made. Entrepreneurs are always inventors. Entrepreneurs are anti-academic and socially misfits. Entrepreneurs must fit into ideal profile All Entrepreneurs are money minded people. Entrepreneurs are badly need the luck. Ignorance is a bliss for entrepreneurs. Entrepreneurs seeks success but end with high failure rates. Entrepreneurs are extreme risk takers. Entrepreneurs are hating partnership. Entrepreneurs never succeeds in clusters. Entrepreneurs must be young. Entrepreneurs are mainly backed by VCs. Entrepreneurs need always new products. Entrepreneurs do not have place in big companies.

What is Success and what your are striving for?What is Success and what your are striving for?

Conceptual and individual views on successful lifeShare your views about a successful life. How would like to contribute in society.How entrepreneurs create society? Teaching MethodologyTeaching Methodology1. Introducing the topic, citing individuals who left impact on

society as successful entrepreneur. 2. Interactive session3.Thought full conceptual writing exploring your

own definition of Success and your role in society.

Entrepreneurial EnvironmentEntrepreneurial Environment

Entrepreneurship under uncertaintyEntrepreneurship under Economic instabilityEntrepreneurship under bad law and order situationEntrepreneurship under political instabilityTeaching MethodologyTeaching MethodologyClassroom lecture: We will examine entrepreneurial

challenges in particular environment of Pakistan

Approaches to EntrepreneurshipApproaches to Entrepreneurship

Macro Entrepreneurial school of thoughtEnvironmental school of thoughtFinancial/Capital school of thoughtDisplacement school of thoughtMicro Entrepreneurial school of thoughtEntrepreneurial traits school of thought (people

school)Venture opportunity school of thought Strategic formulation school of thought

Literature Review on various school of thoughtsLiterature Review on various school of thoughts

Research papers and studies will be given to students.Teaching MethodologyTeaching MethodologyStudents are required to submit a Review articles in the

given time period.

Case Studies SessionCase Studies Session

Prepared case studies will be discussed in the class room.

University can also invite representative of firm to present their success story (Paid advertisement)

Interview successful people and write your own case study in a group

Field observation tripField observation trip

Visit to small and medium enterprises located in Karachi:

Possible sites: Site, Korangi Industrial area, New Karachi

Industrial area, Landi industrial Area or any other small business venture

Students are required to submit an analytical report

Writing your own Business PlanWriting your own Business PlanComponents of Business Plan The Idea, Business product; Financing,

Merchandizing; Branding; Marketing; Supply Chain :

Working MethodologyWorking MethodologyInstructor and Business Incubation Manager

will provide logistic and advisory support to students

Strategizing Business PlanStrategizing Business Plan

steps to start upPreparation of pilot project with the help of

BIC and Engineering Design SupportTeaching MethodologyTeaching Methodology Institutional support is required from BIC

and engineering department

Process approach for running pilot projectProcess approach for running pilot project

Under this various models and methods attempt to structure entrepreneurship process and its various influencing factors.

Integrative approach (Inputs and out puts of entrepreneurial process)

Assessment approach (Assessment of venture and venture environment in various perspectives)

Multi-dimensional approach (Entrepreneurship is analyzed in multi-dimensional ways and means)

Product Development (Services/Material)Product Development (Services/Material) Thinking range of development for future

and product variationNew venture, value creation, new products, process

and services, New technologies, profits, personnel benefits, employment, asset, revenue

BrandingBrandingUnderstanding Branding and its connect with societyInnovative and catchy branding techniquesDo branding according to social and cultural

environment

Multi-dimensional approachMulti-dimensional approachMore detailed process approach: analyses various qualities of

entrepreneurs under the headings of individual, environment, organization and process.

1. Individual factors (need for achievement, locus of control, risk taking propensity, job satisfaction, previous work experience, family background, age, education…..)

2. Environment (venture capital availability, presence of experience entrepreneurs, technically skilled labor force, accessibility of suppliers, customers and new markets, government influence, proximity to Universities, infrastructure availability, attitudes of the people in location, living conditions….)

3. Organization (type of the firm, partners, strategic variables…)4. Process (Location, resources accumulation, marketing, responding to

outsiders….)

Marketing StrategiesMarketing StrategiesBrainstorming for marketing

strategies of your businessBuilding Website; using social media;

cellular marketing etc.

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The Entrepreneur Process The Entrepreneur Process

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3. Creativity and innovation1.

Motivation to make a difference

3 .Spotting and

Exploiting Opportunities

Overcoming

Obstacles

10.Financial Social, aesthetic, capital

8.Controling the business

9.Putting the customer first

GROWING ENTERPRISE

THAT SUCSESS

6.Showing determination in the face of adversity

7.Managing risk

4.

Finding the

Required

Resources

5.

Using networks

extensively

Recognition of value

2. Creativity and innovation

The entrepreneur, the opportunity The entrepreneur, the opportunity spotter and the project championspotter and the project champion

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The enterprising person who realizes

The opportunity and is minded to

Engage it.

The opportunity- spotter The projected champion

The entrepreneur

The person who makes things happens.

The inventor

The

Idea

Realizing

The

Opportunity

Engaging the idea

And opportunity

Exploiting the opportunity to build something

Of value

The entrepreneur, the opportunity The entrepreneur, the opportunity spotter and the project championspotter and the project champion

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The Opportunity-spotter

Idea

The project champion

Oppor-

tunity

Market gapSuccessful

business

The entrepreneur

Supply Chain Supply Chain

Prepare supply chain process on paperAssess the demand and supply side pressure on

supply chain process

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Take off…… Take off……

Process needs to begin according to manual Take a final look on nuts and boltsKeep an eye on environment and change process accordingly

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Maintain quality, supply chain and Maintain quality, supply chain and building trustbuilding trust •Getting involve with all stakeholders

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Presentation of Business PlanPresentation of Business Plan

Last but not least: Students will defend their business plan in

front of Panel and audienceGrading panel will consist of: 1.Course in charge2.one representative of micro finance

institution3.One practicing entrepreneur

Final Students’ EvaluationFinal Students’ Evaluation

Grading:Grading:

Theory Classes: 30% (written final exam)Field trip reports: 20% (2000 words)Interviews Transcribed with your own assessment: 10%Business Plan Writing: 10% (3000 to 5000 words)Final Business Plan Defense in front of group of successful

business people and financers (examiners): 30% ( 1 business practitioner and 2 financer institution will grade your business plan)

The Roadmap of Converting Students into entrepreneurs The Roadmap of Converting Students into entrepreneurs

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3. Creativity and innovation

Step 1

Theories

ExploringYourself & Society

Step 2Spotting &

Exploiting opportunities

Step 4Core Step

Apply SWOT at this step

Step 6

Implementation

Preparing Business Plan•Production•Marketing•Financial•Supply Chain

Step 5

SWOT (W)Candidly realize your weaknesses & show resilience to them

SWOT (T)Analyze present and future threats

SWOT (S)

List strengths and potentials for the selected venture

SWOT (O)Networking find space for expansion

Institutional support

•University•SMEDA•Financing institutions•Business Associations

Step 3: Matching your mindset and circumstances with selected opportunities

Developed by: Dr. S. M. Taha