maintenance of roads in pakistan iep cpd 170312

8/18/2019 Maintenance of Roads in Pakistan IEP CPD 170312

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EntrepreneurshipCPD Course

Dr. Syed Mustafa Ashraf Executive Director

[email protected] Development Group

National Foundation for Resource Development

7th

April 2012 Islamabad

mailto:[email protected]:[email protected]


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Restricted Copy for Individual

Self-Learning Only.

CPD Course Description

This CPD Unit will introduce the conceptsof entrepreneurship and lay thefoundation for developing the necessary

skill set to explore entrepreneurial

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opportunities in order to

Create Value And Serve Society

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Self-Learning Only.

CPD Course GOALS

• To Identify Entrepreneurship As A Career AndLifestyle Option

• To Increase Self Awareness, Especially Work Ethic

• To Develop A Mindset For Business And Develop

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Confidence

• To Leverage Engineering Knowledge To IdentifyGaps And Opportunities For Innovation

• To Build On Business Skills Such As Marketing And Accounting


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Self-Learning Only.

CPD Course Outcomes

After completing this CPD Course, one should be able to:

• Explain the nature of entrepreneurship

• Develop an entrepreneurial perspective by recognizing

entrepreneurial opportunities .

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• Know the value of a business plan and be able to seekhelp to develop one

• Set up a business organization through leveraging• Assemble the Core Team

• Identify the sources of capital for a business venture

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Do You Know This Institution?Do You Know This Institution?

25,600 • Companies Worldwide

3.3 m • People Employed

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$2 trillion • Annual Sales Revenue

11th • Largest World Economy

2006 Data


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Self-Learning Only.

How About This Institution?How About This Institution?

34,700 • Companies Worldwide

4.4 m • People Employed

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$2.5 trillion • Annual Sales Revenue

9th • Largest World Economy

2010 Data


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Self-Learning Only.

Entrepreneurship Definitions

• Knight (1921) Profits From Bearing Uncertainty And Risks

• Cole (1952) Purposeful Activity To Initiate And Develop AProfit-oriented Business

• Mcclelland (1961) Moderate Risk Taking

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• Casson (1982) Decision And Judgments About TheCoordination Of Scarce Resources

• Gartner (1985) Creation Of New Organizations

• Stevenson Et Al (1989) The Pursuit Of OpportunityWithout Regard To Resources Currently Controlled

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Common Elements In Definitions

• Creativity And Innovation

• Resource Gathering And The Founding Of .

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n conomic rganization

• The Chance For Gain (Or Increase) UnderRisk And Uncertainty

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Common Elements Defined

• Creation: A Founding And An Origin

• Innovation: A New Way Of Doing Something

• Economic Organization: An Organization Whose

Purpose Is To Allocate Scarce Resources To Create Value .

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• Risk: Variability Of Outcomes Or Returns

• Uncertainty: Degree Of Confidence In The Estimates Of

How The World Works; Of The Causes And Effects Of The

Environment

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Entrepreneurship

• The Creation Of An Innovative Economic

Organization For The Purpose Of Gain Or

Growth Under Conditions Of Risk And

Uncertaint

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• New Venture Creation

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Resource Based Definition

• Entrepreneur Uses Resources That Areo Rare

o Valuable

oHard To Duplicate

oHave No Good Substitutes

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To Obtain A Sustainable Competitive Advantage

“The Nature And Quality Of The Resources, Capabilities And

Strategies The Entrepreneur Possesses And Can AcquireWill Directly determine the Long-term Success”

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Who is an Entrepreneur ?

Previously NowSmall Business Founder True Entrepreneur

Boss Leader

Lone Ranger Networker

Secretive Open

Self-reliant Inquisitive

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Off the Cuff Business Planner/Strategist

Snap Decisions Consensus Builder & InformedDecision Maker

Overwhelmingly Male Gender is a Non IssueSuccess Due to Idea Success Due to Execution

Knows the Trade Knows the Business

Technology for Automation Technology for Innovation

Earning a living Creating Value & Wealth 12


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New Entrepreneurs

• Aware & Active Academia

• Mid Career Professionals & Executives

• Talent From Downsized Companies .

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• ar y e rees

• Quest For Status

• Control Over Personal Life

• Local Need Analysis & Solution

• Globalization Opportunities

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Dimensions of New EnterpriseDimensions of New Enterprise

Individual

Characteristics

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Environment Organization

Constraints

New

Enterprise


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The Individual

• Psychological, Sociological And Demographic

Characteristics

• .

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, ,

Training

• Character & Professionalism

• Personal Integrity

• Ethics

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Ethical Behavior

• Any business decision that creates value for thecustomer by matching quality and price

– Provide valid data about product and service

– Enable customer to make a free and informed choice .

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– enerate customer comm tment to t e pro uct an t eorganization that provided it

‘The Only Sustainable Competitive AdvantageThat Any Business Has Is Its Reputation’

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Ten Best Rules

1. Commit to Achieving Success and Always BePassionate

2. Share Success with Those Who Have Helped You3. Motivate Yourself and Others to Achieve Your Dreams

4. Communicate with People and Show You Care .

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. pprec a e an ecogn ze eop e or e r or s anResults

6. Celebrate Your Own and Others’ Accomplishments7. Listen to Others and Learn from Their Ideas

8. Exceed Expectations of Customers and Others9. Control Expenses and Save Your Way to Prosperity10. Swim Upstream, Be Different and Challenge the Status

Quo

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Environment

• Opportunities In The Form of Resources• People

• Technology

• Money

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• Acquire Resources And Combine Them With

The Ones Already Present to Deliver Value

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Constraints or Threats

• Competition

• Government Influences

•

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• Socio-Economic Conditions

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Economic Organization

• Value Propositiono Drive And Motivation Embodiment

• Cultivate Form And Structureo

Functional Level Strategies .

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o To Penetrate Or Create A Market

• Build Isolating Mechanismso

To Protect Its Positions• Define Cultureo Determines Performance & Quality

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Quality is Critical to Success

• Transcendento Philosophical – Concerns The Function Intended

• Product-Basedo Product Or Service Attribute Held In High Regard

• User-Based .

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o User Preferences are Subjective

• Manufacturing-Basedo Conformance To Standards, Operational Excellence

• Value-Basedo In Terms Of Economic Value Delivered

• People-Basedo Quality Of Teamo Quality Of Decisions

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Entrepreneur – The Decision Maker

Entrepreneur Must Understand All Quality

Perspectives To Be Able To Make Decisions .

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ase n e urrent tuat on

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Be a Dynamic Entrepreneur!

• Find Your Strengths• Dream Big Dreams• Mistakes Will Happen

• Persistence Pays Off .

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• Spread the Wealth• Have Life Outside of Work

• Explore Venture Capital vs. Customer Funding• Know Your Customer • Customers Will Say What They Need


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Are You Ready?

Owning a business is the dream for many of us

Starting that business converts our dreams into reality

However, there is a gap between dreams and reality

Dreams can only be achieved with careful planning .

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• s an entrepreneur, you w nee a p an to

– Avoid Pitfalls

– Achieve Your Goals

– Build A Profitable Business

Is Entrepreneurship For You?


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Typical first-time entrepreneur is not a 20-

— .

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average age is 40 !


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Understand the Opportunity Space

EXISTING NEW

EXISTING

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NEW


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Planning your Start up Business

• Business Concept

• Personal Resources and Objectives

• Product/Service

• Market Description/Analysis .

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• Sales and Marketing Plan

• Practical Organizing of your Business

• Business Development Strategy

• Budgets

• Financing Options


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3 FATAL FLAWS

• Business Issues – Understand the process of building a business

– Team, Resources & Market Pain must intersect!

• Personal Issues .

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– CEO Focus, Skills and Understanding

– Team Quality

• Organizational Issues – Corporate Culture Alignment with Enterprise – Team Culture Alignment with Enterprise


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3 POWER POSITIONS

• Best Total Cost

– Operational Excellence

• Best Products .

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–

• Best Service

– Customer Focus

Maintain Standards across All Aspects, EXCEL in one!


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National Initiatives

Business Support Organizations

Entrepreneurship Development Centers at

Universities

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Business Incubators

Networking Forums

Business Plan Competitions


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Business Support Organizations

o NFRD

o Small & Medium Enterprise Development Authority

o Women Entrepreneurs Information Network

o Industrial Information Network

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o Technology Upgradation & Skill Development Company

o Trade Development Authority of Pakistan

o Pakistan Horticulture Development & Export Board

o Pakistan Dairy Development Companyo Livestock & Dairy Development Board

o Pakistan Industrial Development Corporation (PIDC)

o Pakistan Software Houses Association for IT & ITES (P@SHA)


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Entrepreneurship Development Centers

o NFRD

o NUST

o Superior University

o NUML

o IBA

o LUMS

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o IMS

o NWFP - UET

o SUIT

o KUST

o Bahauddin Zakariya Universityo PAF - Karachi Institute of Economics & Technology

o Mohammad Ali Jinnah University

o University of Management & Technology (UMT) Center for Entrepreneurship andInnovation (CENTIN)

o University of Veterinary & Animal Science


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Business Incubators

• NFRD

• TIC - This is an initiative of NUST atIslamabad

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•initiative for the benefit of retired ArmyOfficers

• E-Magine Group

• PSEB Smart Plug & Play Incubator

• Saif Center for Innovation


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Networking Forums

• NFRD

• OPEN Pakistan

• TiE Pakistan .

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• n repreneurs p a s an on erence

• All Pakistan Entrepreneurs Exchange

• TAN: Tech Angel Network• Pakistan Private Equity and Venture Capital

Association of Europe


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Business Plan Competitions

• NFRD (Future Plans)• TiE-Khudee, Business Plan Competition• MIT Club of Pakistan Enterprise Forum• Ministry of Youth Affairs "The National Business Plan Competition"• Shell Tameer • The Prince of Wales Pakistan youth entrepreneurship programme• British Council Youth Award

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• Young Leaders Entrepreneurship Summit• Kaavish• FAST University's NASCON• COMSATS• FATA Livelihoods Development Program

• P@SHA LaunchPad - for launching new ideas and startups• IBA INVENT-The Entrepreneurship Challenge• DISCOVER NUST Center of Innovation & Entrepreneurship• IDEAS Youth Entrepreneurship Summit• Business Ideas Competition FAST-NU• Pakistan Entrepreneurship Summit


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Enterprise Development Group


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NFRD

• Building Bridges, Bridging Gaps

• Integrated Approach (Complete EcoSystem)

• Concept Developed 2005-2006 .

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• rs ns u e ar e

• Enterprise Development Started 2007

• Integrated System & Linkages are Growing!


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Entrepreneurship EcoSystem

• Capacity Building

– Integrated Education

– Training

– .

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– Career Counseling & Job Placement

– Mentoring


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• Enterprise Development

– Business Information & Consultancy

– Workshops, Seminars & Courses

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– Business Opportunities


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• Network Development

– Independent Associated Group of Businesses

– Academia-Business-Industry-Government

Linka es

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– International Linkages

– Sales & Marketing Channels

– Business Grid – Education Grid


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Business Resources

• Business Planning

• Market Research

• Feasibility Plans

• Business Incorporation .

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• Agreements & Contracts

• Incubation

• Market Access

• Network & Linkages• Investments


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Conclusion

• Entrepreneurship is a viable and rewarding option

• It is the back bone of Innovation, Creativity,Sustained Advantage & Economic Well-Being of a

Nation .

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• Infrastructure, Tools and Support Environment is Available

• The Drive and Motivation of the Entrepreneur is the

Key Ingredient

• Journey Itself is the Reward of Entrepreneurship!

"Indecision Is The Thief Of Opportunity" - Jim Rohn


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Restricted Copy for Individual Self-Learning Only. All Rights Reserved. Copyright 2012

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Thank You

Dr. Syed Mustafa Ashraf Executive Director

[email protected] Development Group


7th April 2012 Islamabad

mailto:[email protected]:[email protected]


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Reference Books

• Entrepreneurship: by Robert D. Hisrich, Michael P. Peters, Dean A.Shepherd, 6th Edition (McGraw Hill)

• Entrepreneurship: Theory, Process, & Practice. (2010). Asia-Pacific 2nded. Frederick, H; Kuratko D.F & Hodgetts, R.M. Publisher: CengageLearning.

• Entrepreneurship: Strategies and Resources by Marc J. Dillinger, Third

Edition (Pearson Education) .

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. ,

• Essentials of Entrepreneurship and Small Business Management,Thomas W. Zimmerer, Norman M. Scarborough, Pearson Education

• Launching new ventures: An entrepreneurial approach, Allen, K. R.(2003). Boston: Houghton Mifflin (HD 62.5.AD584 2003)

• How to prepare a business plan. London: Kogan Page (HD 30.28.BL7832002) Blackwell, E. (2002).

• Seven steps to a successful business plan. Coke, A. (2002). New York: AMACOM (HD 30.28.CN74)

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Reference Books

• The basics of budgeting. Dickey, T. (1992). Los Altos, CA: CrispPublications

• The successful marketing plan: A disciplined and comprehensiveapproach. Hiebing, R. G., & Cooper, S. (2005). New York: McGraw Hill(HF 5415.13.HL81)

• Analyzing your competitor's financial strengths: how to evaluate key

threats and opportunities. Howell, S. (1993). Financial Times/Pitman .

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• So you need to write a business plan! Osteryoung, J., & Denslow, D.(2003). Mason, Ohio: Thomson/South-Western (HD 62.5.OU87)

• Business planning: a comprehensive framework and process. Truitt, W.B. (2002). Westport, Conn: Quorum Books (HD 30.28.TV25)

• Invent business opportunities no one else can imagine. Turock, A.(2002). Franklin Lakes, NJ: Career Press (HD 30.28.TY364)

• The Business plan: a Deloitte Touche Tohmatsu guide to preparing asuccessful business plan. Dn: Hocken Library: Interim 1 Collection [Usein Library]

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