Professional Documents
Culture Documents
• You will be marked absent if you come to the class after 5 minutes of the
• Final Exam 30% class starting time.
• You will not be allowed to attend the class if you come to the class after 10
• Mid Term 25% minutes of the class starting time.
• Business Plan 15% • Absolutely no excuses will be tolerated for assignment submissions or quiz.
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Entrepreneurship & SME Management
What is Entrepreneurship?
What is a VC?
• Academic Definition (Stevenson & Jarillo)
– Entrepreneurship is the process by which individuals pursue
opportunities without regard to resources they currently
control.
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Why Become an Entrepreneur? Characteristics of Successful Entrepreneurs
Financial rewards
• Execution Intelligence
• Product/Customer Focus – The ability to fashion a solid business idea into a
– An entrepreneur’s keen focus on products and viable business is a key characteristic of
customers typically stems from the fact that successful entrepreneurs
most entrepreneurs are, at heart, craftspeople.
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Common Myths About Entrepreneurs
Myths about Entrepreneurship
• Entrepreneurs Are Born, Not Made • Myth 1: Entrepreneurs Are Born, Not Made
• Myth 3: Entrepreneurs Are Motivated Primarily by Money • Myth 4: Entrepreneurs Should Be Young and
Energetic
– Entrepreneurial activity is fairly easily spread out over age
– While it is naïve to think that entrepreneurs don’t seek financial
rewards, money is rarely the reason entrepreneurs start new firms. ranges.
– In fact, some entrepreneurs warn that the pursuit of money can be – While it is important to be energetic, investors often cite
distracting the strength of the entrepreneur as their most important
criteria in making investment decisions.
• What makes an entrepreneur “strong” in the eyes of an investor is
experience, maturity, a solid reputation, and a track record of
success.
• These criteria favor older rather than younger entrepreneurs.
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Common Myths About Entrepreneurs
Types of Start-Up Firms
Young Entrepreneurs
Women Entrepreneurs
• Interest among young people in entrepreneurial careers
• There are a growing number of organizations that support and is high.
advocate for women-owned businesses. • According to a Harris Interactive survey, 40% of people eight
to 21 years old said they’d like to start their own business
• Trend is changing from healthcare and professional services to someday.
construction (30% increase), agricultural services (24%), • A total of 59% of the 8- to 21- year olds said they know
transportation (20%) and Communications (20%) someone who has started their own business.
Senior Entrepreneurs
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Small and Medium Enterprises (SME)
Significance of SME’s
• Employment size: Up to 250
•Constitute nearly XX% of enterprises in Pakistan
•Share in annual GDP is 40% approximately • Have a positive effect on the trade balance since SMEs generally use
indigenous raw materials.