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Lecture 1-SCH264-Introduction To Entreprenuership

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16 views19 pages

Lecture 1-SCH264-Introduction To Entreprenuership

Uploaded by

s-zeyad.mawjoud
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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1

Entrepreneurship
and Small Business
Management
SCH-264
2

Course Objectives

The course is designed to provide


preliminary guidance for entrepreneurs to
understand business nature, spot business
opportunities, conduct market research,
make a marketing plan and put pricing
strategies of products, work on financial
aspects of the business plans, and create
business plans.
3/3/2024 3
Intended Learning Outcomes

After the course the student will be able to:

▪ Spot market trends and business opportunities.


▪ Know how to contribute to societal, social, economic,
and environmental welfare.
▪ Conduct market research and design a bootstrap
marketing plan.
▪ Design a business model for a product or a service.
▪ Build financial plans and assess financial plans flaws
on a small scale.
▪ Build a business plans based on proposed ideas.
▪ Analyze business cases.

4
Wage Slavery Entrepreneurship

3/3/2024 5
Entrepreneurs: The Driving Force
Behind Small Business

1-6
1-7
Initiative Competitive Committed

CHARACTERISTICS
Future
OF Self-reliant Persevering
orientated
ENTREPRENEURS
Values
Moderate
Confident achievement
risk takers
over money
THE BENEFITS OF OWING
A SMALL BUSINESS
▪ You control your own destiny.
▪ Choose the people you work with.
▪ Challenge yourself.
▪ Follow your passion.
▪ Give back to your community.
▪ Build something of your own.
▪ Make a lot of money!!

1-9
Examine
Examine the Innovators and
Early Adopters.
Monitor
Monitor trends and exploit
them early.
WANT TO BE AN Study
Study the change occurring
ENTREPRENEUR ? now.
SPOTTING Add
ENTREPRENEURIAL Add a new twist to an idea.
OPPORTUNITIES?
Take
Take a different approach to
an existing model.
Travel
and get Travel and get inspired!!

1-10
WHAT MAKES A
BUSINESS FLOURISH?
▪ Dedicate yourself to the business

▪ Know your business in depth

▪ Prepare a business plan

▪ Manage financial resources

▪ Understand financial statements

▪ Learn to manage people effectively

1-11
WHAT CAN MAKE THE
BUSINESS FAIL?
▪ Seeking Money before Adding Value.

▪ Inadequate Knowledge about business


and finance.
▪ Lack of Focus.

▪ Fear of Failure.

▪ Lack of Vision.
▪ Poor Money Management.
▪ I Can Do Well All by Myself.

1-12
DEADLY TRUTH ABOUT
ENTREPRENEURSHIP
1-13
Trying to juggle
You won’t make
Your personal everything will
money right
life will suffer. take its toll on
away.
you.

Your emotions Nothing will You’ll make


will get the happen the way decisions that
better of you. you think it will. will haunt you.

You are going to


fail.

1-14
▪ Ethics—principles that define a code of behavior to distinguish between

ETHICAL LEADERSHIP
right & wrong.
▪ The Golden Rule.

▪ A behavior may be legal but still not ethical.

IN ORGANIZATIONS ▪ Customers return to businesses that treat them ethically.

It is not always easy to distinguish right from wrong.


ESTABLISHING ETHICAL STANDARDS

Code of ethics—a statement of the Code of conduct—set of official Code of ethics and business
company’s values. standards of employee behavior. conduct—combines the written
statement of values with the official
standards of employee behavior.
SIX PILLARS OF CHARACTER

Integrity
Corporate social Social entrepreneurship—
responsibility—the ethical the sale of products or
obligation of a company to its services on a for-profit basis
SOCIAL community. to benefit a social purpose.

RESPONSIBILITY
AND ETHICS

Sustainability—It is now a
matter of survival.
▪ Recycle in the office.

ENCOURAGE SOCIAL ▪

▪
Donate a portion of business profits to a charity that employees support.

Refuse to use animals for testing products.

RESPONSIBILITY
▪ Offer employees incentives to volunteer in their communities.

▪ Establish a safe, healthy workplace.

▪ Emphasize being a sustainable business.

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