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Entrepreneurial & Intrapreneurial Mind: Lecture # 3 Course Instructor Sahar Ansari

The document discusses the differences between entrepreneurs and intrapreneurs, noting that entrepreneurs take on more risk when starting new ventures independently while intrapreneurs work within existing organizations. It also outlines the key phases of the entrepreneurial process: discovering opportunities, developing business plans, resourcing the venture by finding financing and hiring, managing operations, and harvesting returns through growth or stability. Several skills are highlighted as important for entrepreneurs, including technical abilities, business management, communication, and a personal drive for innovation.

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umer bin salman
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51 views14 pages

Entrepreneurial & Intrapreneurial Mind: Lecture # 3 Course Instructor Sahar Ansari

The document discusses the differences between entrepreneurs and intrapreneurs, noting that entrepreneurs take on more risk when starting new ventures independently while intrapreneurs work within existing organizations. It also outlines the key phases of the entrepreneurial process: discovering opportunities, developing business plans, resourcing the venture by finding financing and hiring, managing operations, and harvesting returns through growth or stability. Several skills are highlighted as important for entrepreneurs, including technical abilities, business management, communication, and a personal drive for innovation.

Uploaded by

umer bin salman
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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ENTREPRENEURIAL &

INTRAPRENEURIAL MIND

LECTURE # 3
Course Instructor
Sahar Ansari
Entrepreneur Vs Intrapreneur
( Shoes Vs Sneakers)
• An entrepreneur is someone who tries to solve a genuine problem by
offering a feasible solution in an affordable way. An intrapreneur is
doing the same, but within an existing organization.
• When you are an entrepreneur you have no network. If you fail, you
might lose everything. When you are an intrapreneur, you have a
network supporting you.

• On the other hand, as an intrapreneur you are not the owner of the
company, if you fail you won’t lose everything, but if you are
successful the [financial] payback is lower.
Why E&L are important?
• Better employee treatment.
For you to succeed as an entrepreneur, you must as well embrace doing
right by your employees, in the understanding that the overall success of
your enterprise has a lot to do with a gratified and motivated staff.
• Proper delegation of tasks.
It takes leadership skills for one to appropriately allocate tasks to
employees, by understanding both their strengths and weaknesses .
• Problem-solving.
When working which more than one person to achieve a common goal, you
are bound to bump into several challenges.
• Excellence in communication.
Communication is the backbone of any successful company, and for it to
work well, it has to start with the leader.
Role of Management Vs Entrepreneurial
Decision making.
Types of Skills Required in E’ship
Technical Business Personal
Management
Writing Planning Inner Control

Oral Decision Risk Taking


Communication Making
Monitoring the Human Innovative
Environment Relations
Using Marketing Change-
Technology (Selling) oriented
visionary
PHASES OF
ENTREPRENEURSHIP
PROCESS
The Entrepreneurial Process has 5 distinct
phases
ENTREPRENEURIAL PROCESS

Discovery:
• An entrepreneurial process begins with the idea
generation, wherein the entrepreneur identifies and
evaluates the business opportunities. Once the
opportunity has been decided upon, the next step is to
evaluate it. An entrepreneur can evaluate the efficiency of
an opportunity by continuously asking certain questions to
himself, such as, whether the opportunity is worth
investing in.
plan are mission and vision statement, goals and objectives, capital requirement, a descript

Developing a Business Plan:


• Once the opportunity is identified, an entrepreneur needs
to create a comprehensive business plan. A business plan
is critical to the success of any new venture since it acts
as a benchmark and the evaluation criteria to see if the
organization is moving towards its set goals.
• An entrepreneur must dedicate his sufficient time towards
its creation, the major components of a business plan are
mission and vision statement, goals and objectives,
capital requirement, a description of products and
services, etc.
Resourcing:
• The third step in the entrepreneurial process is
resourcing, wherein the entrepreneur identifies the
sources from where the finance and the human resource
can be arranged. Here, the entrepreneur finds the
investors for its new venture and the personnel to carry
out the business activities.
Managing the company:
• Once the funds are raised and the employees are hired,
the next step is to initiate the business operations to
achieve the set goals. First of all, an entrepreneur must
decide the management structure or the hierarchy that is
required to solve the operational problems when they
arise.
• Harvesting: The final step in the entrepreneurial process
is harvesting wherein, an entrepreneur decides on the
future prospects of the business, i.e. its growth and
development. Here, the actual growth is compared
against the planned growth and then the decision
regarding the stability or the expansion of business
operations is undertaken accordingly, by an entrepreneur.

The entrepreneurial process is to be followed, again and


again, whenever any new venture is taken up by an
entrepreneur, therefore, its an ever ending process.

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