www.bradford.ac.uk/management

Welcome to Marketing & Welcome to Marketing & EntrepreneurshipEntrepreneurship

Session 1:Session 1:

Exploring EnterpriseExploring Enterprise

Shahid RasulShahid Rasul

Exploring Enterprise Exploring Enterprise

• Introduction to the course

• Definitions

• Enterprise Agenda

• Enterprise Culture

EnterpriseEnterprise1. a project undertaken or to be undertaken, esp. one that is

important or difficult or that requires boldness or energy: To keep the peace is a difficult enterprise.

2. a plan for such a project.

3. boldness or readiness in undertaking; adventurous spirit; ingenuity.

4. a Business Organisation

5. willingness to undertake new ventures; initiative: “Through want of enterprise and faith men are where they are, buying and selling, and spending their lives like serfs” (Henry David Thoreau).

Enterprise is…..Enterprise is…..

– making things happen

– doing things differently

– having ideas

– and doing something about them

– taking advantage of opportunities

– to bring about change

EnterpriseEnterpriseNarrow Meaning

• Starting a business• Being in business• Growing a business• Developing a

business• The business itself

Broader Meaning

Attitudes & Skills which when possessed by individuals, lead them to exhibit innovative behaviour, including entrepreneurship

BUSINESS BEHAVIOURAdapted from Understanding Enterprise, Entrepreneurship & Small Business - Bridge, O’Neil & Cromie

INNOVATION

Enterprise

Entrepreneurship

Small Business

Adapted fromUnderstanding Enterprise, Entrepreneurship & Small Business - Bridge, O’Neil & Cromie

Intrapreneurship

Enterprise in ContextEnterprise in Context

1 Introduction to Enterprise

2 Understanding Entrepreneurship (TA - ALL)

3 Role of the Entrepreneur (TA- ALL)

4 Business Case Studies

5 Market Opportunity Recognition (TA - ACEG)

6 Evaluating the Opportunity (TA - BDFH)

7 Creating a Business Model (T- ALL)

8 Developing the Business Plan (T – ALL)

9 Financial Planning (T- ALL)

10 Entrepreneurial Organisation

11 Managing Growth & Exit

12 Presentations

Module ContentModule Content

• Lectures• Tutorials

– Case Studies, Activities, Guest Speakers– Consultation regarding coursework– Presentations

• Personal study and reading• Working in TEAMS • Researching & collecting information

Course FormatCourse Format

Entrepreneurship and innovation are central to the creative processes in the economy, to promoting growth, increasing productivity and creating jobs.

UK Government White Paper on Competitiveness

The promotion of enterprise, in every aspect of society and every corner of our country, is at the heart of Government’s agenda. Entrepreneurial talent is essential to deliver social justice, locally and nationally.

Enterprise for Communities

Why all the fuss?Why all the fuss?

Business Enterprises in UKBusiness Enterprises in UK

Number - 3.8 million (excl Government & non-profit)99.1 per cent small (0 to 49 employees)27,000 were medium-sized (50 to 249 employees)7,000 were large (250 or more employees) Employment - 22.7 million people 43.7 per cent in small enterprises11.9 per cent in medium-sized enterprises.

Turnover: £2.2 bn37.0 percent Small Enterprises15.0 percent Medium Enterprises

DTI - National Statistics

Business EnterprisePrivate Sector

Social Enterprise

Not for profit sector

Corporate EnterprisePrivate & Public

Sector

Social, Economic, Environment, Ethics

Types of EnterpriseTypes of Enterprise

Source: New Venture Creation - Entrepreneurship for the 21st Century - Timmons

Technology

Innovation

Increasing

Competition

Acceleratin

g

Complexity

Computers

Bandwidth

Globalisation

Deregulation

Product Proliferation

Rate of change

Internet Fact

The number of people and

computers connected to the internet

doubles every twelve months.

Exponential Growth

Change is Inevitable?Change is Inevitable?

Only the wisest and stupidest of men never change.

Confucius

Environmental

Social/ Cultural/ Demographics

Economic

What’s Happenin

gTechnology

Political

Global ParadoxGlobal Paradox

What has changed?What has changed?

PPolitical

EEconomic

SSocial

TTechnology

EEnvironment

LLegal

Home

Work

Leisure

In the first industrial revolution, In the first industrial revolution, what mattered was who had the raw materials, the capital and the ports. What matters most now is which country has the shared determination and the national purpose to tap the energy, dynamism and potential of the widest pool of talented people.

Gordon Brown – Chancellor of the Exchequer 2003

0

50

100knowledge growth

human evolutiongenes and culture

Agricultural Industrial Ecology of Networks

GR

OW

TH

ERAS

Knowledge Growth vs. Human EvolutionKnowledge Growth vs. Human Evolution

…………..is one who comes across a pile of scrap metal and sees the making of a wonderful sculpture. An enterprising person is one who drives through an old decrepit part of town and sees a new housing development. An enterprising person is one who sees opportunity in all areas of life.

Jim Rohn – Business Philosopher

An Enterprising Person…..An Enterprising Person…..

Enterprise&

Innovation

Economy

Society Environment

Enterprise in ContextEnterprise in Context

Unlocking ValueUnlocking Value

OpportunitiesOpportunities

ResourcesResources

Unlocking Unlocking ValueValue

YouYou

Rae (1999:16)

•Accelerating Change

•Large Safe

•Qualifications Alone Insufficient

•Respected becomes Expected

•Ignore Passion at your Peril

Personal FactorsPersonal Factors

We are entering a time when the future, in so many areas, is to be shaped by us and for us; a time when the only prediction that will hold true is that no prediction will hold true; a time

for bold imaginings, for thinking the unthinkable and doing the unreasonable.

Charles HandyCharles Handy

www.channel4.com/life/microsites/R/realdeal/

One stop shop for Budding Entrepreneurs with Self Assessment & Road Tests

www.zeromillion.com/entre/stories/

Stories about entrepreneurs

www.motivation-tools.com/

Interesting website on motivation

www.entrepreneurialprocess.com/entrebook.htm

An online book on entrepreneurship

Useful WebsitesUseful Websites