Entrepreneurial Process

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simple slide show explaining the process of entrepreneurship

Transcript of Entrepreneurial Process

  • ENTREPRENEURIAL PROCESSINSPIRING CREATIVE AND INNOVATIVE MINDS

  • @ 2007 Zaidibahari FPPSMUTMHak cipta terpeliharaThe Entrepreneurial ProcessDeciding to become an entrepreneurDeveloping successful business ideasMoving from an idea to an entrepreneurial firmManaging and growing the entrepreneurial firm

    Step 1

    Step 2

    Step 3

    Step 4

  • Sources of Opportunities Entrepreneurial OpportunityA situation in which a person can exploit a favourable set of circumstances or new business idea that has the potential to generate a profit, through the creation of new products or services or business

  • Sources of Opportunities Entrepreneurial OpportunityA situation in which a person can exploit a favourable set of circumstances or new business idea that has the potential to generate a profit, through the creation of new products or services or business

  • Exist when there is room to offer a product or service in a particular market which fulfill customers demandTwo situations:Product or service available but unable to meet customer demands and preferences.Customers need product or service that can help to solve their problems.Entrepreneurial OPPORTUNITIES

  • opportunitiesSocial ChangeReady availability of established, Non-proprietary technologyNew Market & Distribution ChannelEconomic ChangeSources of Opportunities

  • Step 1 : Identifying the needs and wantsStep 2 : Scanning the environment and evaluating of self and communityStep 3 : Screening of business opportunitiesStep 4 : Selecting a business opportunity and preparing a business plan

  • @ 2009 Zaidibahari FPPSMUTMHak cipta terpeliharaOpportunity Recognition ProcessEnvironmental TrendsEconomicSocialTechnologicalPoliticalLegalPersonal Characteristics of an entrepreneurExperienceCognitiveSocial NetworkCreativityBusiness, Product or Service Opportunity GapNew Business, Product & service Ideas

    @ 2009 Zaidibahari FPPSMUTMHak cipta terpelihara

  • @ 2007 Zaidibahari FPPSMUTMHak cipta terpelihara

    Internal

    StructureCultureResourcesMicro/IndustrialCustomersGovernment AgenciesNGOsFinancial InstitutionsSuppliersCompetitorsMacro/ExternalSocio-CulturalPolitical & LegislationEconomyTechnology

    @ 2007 Zaidibahari FPPSMUTMHak cipta terpelihara

  • External EnvironmentglobalnationallocalGeneral Macroeconomic Condition?Labour Market?Interest Rate?Currency value?Industrial players?International/Export mkt?Competitiveness?Economic

  • External EnvironmentDemographic ChangeSocial TrendProcess InnovationPure Invention

  • External EnvironmentPolitical/legislationGlobal IssuesNational IssuestaxationregulationTrade agreement

    Political riskTrade barriers & tariff

  • Micro EnvironmentConsumersCompetitorsSuppliersFinancial InstitutionsGovernment AgenciesNon-Government OrganisationsindividualsindustrialLocalRegionalNational/intlMonitoringPoliciesSupports: Technical, financial, etcMaterialsServices

  • @ 2009 Zaidibahari FPPSMUTMHak cipta terpelihara

    Recognition of OpportunitiesopportunitiesSocial ChangeReady availability of established, Non-proprietary technologyNew Market & Distribution ChannelEconomic Change

    @ 2009 Zaidibahari FPPSMUTMHak cipta terpelihara

  • @ 2009 Zaidibahari FPPSMUTMHak cipta terpelihara

    TheUnexpectedTheIncongruousSources of OpportunitiesopportunitiesProcess NeedIndustry & mkt StructuresDemographicsChange in PerceptionNew knowledge

    @ 2009 Zaidibahari FPPSMUTMHak cipta terpelihara

  • @ 2007 Zaidibahari FPPSMUTMHak cipta terpelihara

    Creation & lengthReal & Perceived valuesRisk & ReturnPersonal skills & goalsCompetitive Situation Evaluating Opportunities

    @ 2007 Zaidibahari FPPSMUTMHak cipta terpelihara

  • List as many needs and wants of UTM students:FoodShelterEntertainmentStudyTransportationPersonal lifeProfessional development

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