Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial...

33
CII AA GATEWAY Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway

Transcript of Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial...

Page 1: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Certificate Program on Entrepreneurial Skill Development

CII Affirmative Action Gateway

Page 2: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

2

Identify these personalities?

Page 3: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

What have they done great?

• Started organizations to fulfill societal needs

• Provided employment to lakhs of people

• Contributed to economic development of India

3

Page 4: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Who is an entrepreneur?

• According to Joseph Schumpeter:

“ An entrepreneur is a person who destroys the existing economic order by introducing new products and services by creating new forms of organization or by exploiting new raw

materials”

4

Page 5: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

What is a new Product? When can we

say something is new?

5

Page 6: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

New to the World Product / Really New:

6

Page 7: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

New to the Firm or New Product Line

Page 8: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Addition to Existing Product:

8

Page 9: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

9

Improvement to Existing Product:

Page 10: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

10

Repositioning:

Page 11: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

11

Cost Reduction:

Page 12: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Re-defining an Entrepreneur

12

Perceives an opportunity Creates an organization

Page 13: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Where all can entrepreneurs play a vital role?

• banking, insurance, civil, aviation, entertainment, radiobroadcasting sectors.

• Honda, Suzuki, Toyota (foreign companies)

• scope for agricultural entrepreneurs (modernizing the agricultural operations, resorts to the organic farming etc.)

• non-conventional energy, information technology

• improve quality of their products, services, and increase their competitive strength.

13

Page 14: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Where all can entrepreneurs play a vital role?

• cost reduction, total quality management to retain and expand their global presence.

• Modern Technology adoption

• non-conventional energy, information technology

• improve quality of their products, services, and increase their competitive strength.

14

Page 15: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

So is entrepreneurship art or science?

15

Page 16: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Underlying Competencies

16

Analytical Thinking and Problem Solving

Behavioural Characteristics

Business Knowledge

Communication Skills

Interaction Skills

Tools and Technology

Page 17: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

The Entrepreneurial Process

Innovation Triggering Event Implementation Growth

17

Personal Achievement

Locus of Control Ambiguity Tolerance

Risk Taking Personal Values

Education Experience

Personal Risk taking

Job Dissatisfaction

Job Loss Education

Age Commitment

Sociological Networks

Teams Parents Family

Role Models

Personal Entrepreneur

Leader Manager

Commitment Vision

Organizational Team

Strategy Structure

Culture Products

Environment Opportunities Role models Creativity

Environment Competition Resources Incubator Government Policy

Environment Competitors Customers Suppliers Investors Bankers Lawyers Resources Government Policy

Page 18: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Personal Attributes

• Being independent

• Higher locus of control

• 10 D’s

18

Page 19: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

10 Ds

1. Dream: vision of future, ability to implement

2. Decisiveness: Swift, procrastinate.

3. Doers: Decide and implement quickly

4. Determination: Total commitment, seldom giving up

5. Dedication: Work tirelessly (relationships)

6. Devotion: Love

7. Details: Devil resides in details!

8. Destiny: Want to be on their own

9. Dollars: Rich (not the motivation)

10. Distribute: Ownership is vested only to key personnels

19

Page 20: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Environmental Factors

Role Models

Bill Gates

20

Page 21: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Sociological Factors

• Family Responsibilities: 25 yrs , 45 years

• Optimism

• Energy of Youth

21

Page 22: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Types of Entrepreneurs

Entrepreneurs may be classified on the basis of level of motivation, geographical arts, gender, use of

technology, nature of business entrepreneurial background

• Innovative Entrepreneur – LPG or electric battery operated motorcars

• Imitative Entrepreneurs – Sony launched ‘Walkman’

• Fabian Entrepreneurs – Lazy, failure to change

• Drone Entrepreneurs – stick up to the old values, customs and traditions

• First generation Entrepreneurs – Not like Dhirubhai Ambani

• Entrepreneurs by Inheritance – Ratan Tata inherited from J.R.D.Tata and Jamshetji Tata

• Urban Entrepreneurs

• Rural Entrepreneurs

• Foreign Entrepreneurs

• Individual Entrepreneurs

• Institutional Entrepreneurs

• Technological Entrepreneurs

• Male Entrepreneurs

• Women Entrepreneurs

22

Page 23: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Functions of Entrepreneurs

The entrepreneurs have to perform a number of functions while starting and running an enterprise

• Innovation

•Risk Assumption

•Decision making

•Organizing

•Management

23

Page 24: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Qualities of Successful Entrepreneurs

Ambition

Creativity

Self-confidence

Foresight

Hard work

Emotional balance

Decision-making ability

Courtesy

Communication skill

Good character

Motivational ability

Opportunist

Patience

24

Page 25: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

The 7 sources of Innovative Opportunity were Listed by Peter

Drucker in the book “Innovation and Entrepreneurship”.

Within the Enterprise

– The unexpected

– The incongruity

– Innovation based on

process need

– Changes in industry

structure or market

structure that catch

everyone unaware

Outside the Enterprise

– Demographics

– Changes in perception,

mood, and meaning

– New knowledge

25

Page 26: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

The unexpected

• The unexpected success

• 3M- Post-it-Notes

• Dupont – Nylon discovered because someone left the burners on too long

• IBM – Electro mechanical bookkeeping machine for accounting firms a flop; Thomas

Watson started selling to public libraries clamoring for product

26

Page 27: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

The incongruity

• Like the unexpected event, whether success or failure, incongruity is a symptom of

change, either change that has already occurred or change that can be made to happen.

• Like the changes that underlie the unexpected event, the changes that underlie

incongruity are changes within an industry, a market, a process.

• Eg: Dubsmash app, Payment wallets- Demonetization

27

Page 28: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Innovation based on process need

• Requires that you find the ‘weak link’ in a process, but to fill the gap, requires considerable

new knowledge to be produced

• Selfie Stick

• Laptops

• Ipad

28

Page 29: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Changes in industry structure or market

• Rolls Royce – autos becoming plentiful so they positioned their car with ‘cache of royalty’

• Ford- autos no longer rich man’s toy so he designed a car that could be mass produced

• Japanese cars – world exporters of American style cars but smaller with better fuel

consumption and rigorous quality control

• Porsche – positioned itself as the sports car

29

Page 30: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Demographics

These shifts are clearest, easiest to predict

• American teenagers demand for sneakers

• Baby boomers retiring and taking vacations

• Post WWII “Private” and “Metropolitan” Universities i.e. Pace, Golden Gate Designed for

people in mid-career - Shifted status of college degree from ‘upper class’ to ‘middle class’

• Citibank – expansion based on realization of movement of educated women into the

workforce

30

G.I. Generation

Silent Generation

Baby boomers

Generation X

Millennials Generation

Z

Page 31: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

Changes in perception, mood, and meaning

• Glass is Half Full vs. Glass is Half Empty

• Timing must be right

• Examples

– ‘Eating’ vs. ‘dining’ driving high end restaurants

– Success of Thunderbird vs. Edsel due to shit to lifestyle segmentation

– Celestial Seasonings due to shift toward more healthy lifestyles

31

Page 32: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY

New knowledge

• Knowledge based innovation has longest lead time of all innovations

– OLA,UBER

– Mobile Phone

– Wright brother airplane = gas engine + aerodynamics

– Newspaper = telegraph and high speed printing + high speed typesetting + mass literacy + mass

advertising

– Plastics = organic chemistry + x-ray diffraction + understanding of crystals + high vacuum

technology + WWI shortages in rubber

32

Page 33: Certificate Program on Entrepreneurial Skill Development · Certificate Program on Entrepreneurial Skill Development CII Affirmative Action Gateway . CII AA GATEWAY 2 ... total quality

CII AA GATEWAY Customer Confidential 33

Thank you