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ENTREPRENEURIAL QUALITIES and
STRATEGIZING
1
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1. DO YOU HAVE WHAT IT TAKES?
o I CAN
o I WANT
o I CAN, BUT
o I DON’T WANT TO
o I CAN’T
o I DON’T KNOW
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1. DO YOU HAVE WHAT IT TAKES?
► What skills and experiences do you have that are keys to the success of the business you want to own?
Successful entrepreneurs have skills to sell
► Do you have good social skills? Do you say what you mean? Do you listen well?
Entrepreneurs must be able to sell themselves
► Are your financial and personal situations stable?
Entrepreneurs need to be in good shape financially and emotionally to be able to concentrate on their new business without crisis in their personal lives
► Are you optimistic?
Entrepreneurs think positively
► Do you have a strong motivation to achieve?
Entrepreneurs are doers
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1. DO YOU HAVE WHAT IT TAKES?
► Are you a hard worker? Do you work hard for others?
Entrepreneurs often work more than 40 hours per week
► Do you have problem-solving skills? Do you enjoy solving problems?
Entrepreneurs are problem solvers
► Are you independent?
Entrepreneurs are leaders
► Are you afraid of making decisions? Do you have a take-charge attitude?
Entrepreneurs make decisions for their businesses
► Do you accept responsibility?
Entrepreneurs accept responsibility for their own businesses
SESSION OUTLINE
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1. DO YOU HAVE WHAT IT TAKES?
2. WHY DO BUSINESSES FAIL?
3. YOUR BEST BET IS A BUSINESS PLAN
4. ENTREPRENEURIAL TEAMS & INNOVATION
5. CREATIVE PROBLEM SOLVING
6. A FRAMEWORK FOR DECISION MAKING
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2. WHY DO BUSINESSES FAIL?
► One in three new businesses fail within six months.
► Three of four start-ups shut down within five years.
► Nine out of ten companies operating today will eventually fail.
* SOURCE: Gilkerson, Linda D. and Paauwe, Theresia M., Self-Employment, From Dream to Reality, 2nd edition, 2003
► UNSUITABLE OWNER’S PERSONALITY
► POOR CHOICE OF OPPORTUNITY
► INADEQUATE START-UP CAPITAL
► POOR SELECTION OF LOCATION
► LACK OF KNOWLEDGE ABOUT ATTRACTING TARGETS
► FAILURE TO SEEK PROFESSIONAL ADVICE
► POOR CHOICE OF LEGAL FORM
► INSUFFICIENT EXPERIENCE IN PRODUCT OR SERVICE
► INSUFFICIENT PLANNING AND INVESTIGATION
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2. WHY DO BUSINESSES FAIL?
COMMON REASONS OF BUSINESS FAILURE
* SOURCE: Gilkerson, Linda D. and Paauwe, Theresia M., Self-Employment, From Dream to Reality, 2nd edition, 2003
SESSION OUTLINE
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1. DO YOU HAVE WHAT IT TAKES?
2. WHY DO BUSINESSES FAIL?
3. YOUR BEST BET IS A BUSINESS PLAN
4. ENTREPRENEURIAL TEAMS & INNOVATION
5. CREATIVE PROBLEM SOLVING
6. A FRAMEWORK FOR DECISION MAKING
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3. YOUR BEST BET IS A BUSINESS PLAN
► Myth #1: Business plans are only for start-up companies.
► Myth #2: Business plans should be as detailed and slick as possible.
► Myth #3: Business plans should emphasize ideas and concepts,
not people.
► Myth #4: Business plans should be prepared only by the founding
entrepreneur(s).
► Myth #5: Business plans should be distributed as widely as possible
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3. YOUR BEST BET IS A BUSINESS PLAN
► Myth #6: A business plan should follow a specified format, regardless
of the industry in which the company operates.
► Myth #7: Optimism should prevail over realism.
► Myth #8: A well-written business plan should contain an executive
summary that is written before the full text of the document is
prepared.
► Myth #9: Business plans are written only when a company needs to
raise capital.
► Myth #10: The business plan should showcase the company’s
proprietary products and services.
SESSION OUTLINE
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1. DO YOU HAVE WHAT IT TAKES?
2. WHY DO BUSINESSES FAIL?
3. YOUR BEST BET IS A BUSINESS PLAN
4. ENTREPRENEURIAL TEAMS & INNOVATION
5. CREATIVE PROBLEM SOLVING
6. A FRAMEWORK FOR DECISION MAKING
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4. ENTREPRENEURIAL TEAMS AND INNOVATION
1 0 Q U A L I T I E S O F S U C C E S S F U L
E N T R E P R E N E U R I A L T E A M S
1. Balance
2. Truly shared objectives and core values with a genuine sense of teamwork
3. Legal agreements in place to protect company and its founders
4. Communication channels that foster open dialogue, room for disagreement, and methods for resolving conflicts
5. Accountability and judgment
6. Egos parked at door
7. A track record of doing something together successfully before
8. Integrity, trust, fairness, and respect
9. Strong, cooperative work ethic
10. Commitment to long-term success of the company
SESSION OUTLINE
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1. DO YOU HAVE WHAT IT TAKES?
2. WHY DO BUSINESSES FAIL?
3. YOUR BEST BET IS A BUSINESS PLAN
4. ENTREPRENEURIAL TEAMS & INNOVATION
5. CREATIVE PROBLEM SOLVING
6. A FRAMEWORK FOR DECISION MAKING
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5. CREATIVE PROBLEM SOLVING
N O T WHAT Y O U S E E , I T ’ S HOW Y O U S E E ? !
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5. CREATIVE PROBLEM SOLVING
► Problems don’t just go away.
► Problems can create a stink.
► Problems don’t just dry up.
► Problems fester and then they run.
► Problems don’t get lighter the more you pass them around.
► Problems don’t go down easier with a sugar coating.
► Problems don’t just explode!
G E T T O K N O W P R O B L E M S
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5. CREATIVE PROBLEM SOLVING
1. People deny that the problem is significant.
2. People believe that the problem is someone else’s to solve.
3. People spend more time working on the symptoms, creating unnecessary tasks, or
fixing the wrong problem.
4. People don’t recognize that problem solving is the critical function of every job.
5. No one truly understands the link between people, problems, performance.
6. People lack the confidence in their ability to solve problems.
7. People do not feel vested in the process or the outcomes. They don’t know how to
measure their impact.
8. People lack the skills, tools, and access to resources that are needed.
9. People jump to solutions that have worked in the past and misuse time and
resources.
10.Some just do not want to admit they have problems.
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5. CREATIVE PROBLEM SOLVING
VISION SKILL RESOURCES INCENTIVES PLAN
SESSION OUTLINE
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1. STRATEGIC FOUNDATION
2. BUSINESS MODEL CANVAS
3. STAKEHOLDERS IDENTIFICATION, MAPPING, AND ANALYSIS
4. SWOT ANALYSIS & PLANNING
5. BUSINESS SCOPE PLANNING
6. A SECOND LOOK AT YOUR BUSINESS IDEA
7. STRATEGY STATEMENT
SESSION OUTLINE
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1. STRATEGIC FOUNDATION
2. BUSINESS MODEL CANVAS
3. STAKEHOLDERS IDENTIFICATION, MAPPING, AND ANALYSIS
4. SWOT ANALYSIS & PLANNING
5. BUSINESS SCOPE PLANNING
6. A SECOND LOOK AT YOUR BUSINESS IDEA
7. STRATEGY STATEMENT
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1. STRATEGIC FOUNDATION
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1. Mission Statement
An inspirational statement of the organization purpose that reflects its beliefs and
values. It simply answers the core questions: what the
organization purpose is and what it does.*
10
Mission Statement
Criteria
Brief
Easily
understood
Memorable
Easily
communicated
Implies Future
Improvements
Express why the
organization
exist
Realistic
Makes
Stakeholders
proud
Inspires Action
Beneficial to all
Stakeholders
1. STRATEGIC FOUNDATION
* LOGIC Management Consulting, Strategic Foundation Guide, 2009.
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2. Vision Statement
It is the ultimate destination of the company that all strategies and actions are geared to reach. It answers the question what is our picture of the future?*
BRIEF
Memorable
Implies future improvements
Clear Timeframe
Appeals to Stakeholders
Ambitious, long-term
REALISTIC
CLEAR FOR DECISIONS
inspires action Easily understood
Easily communicated
Beneficial to all Stakeholders
Draw a clear picture of the organization future
1. STRATEGIC FOUNDATION
* LOGIC Management Consulting, Strategic Foundation Guide, 2009.
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3. Core Values
They are the main values that the organization believes in.
They must support the Vision and help clarify the Mission.
Core Values can be considered as the guiding as well as the
limiting factors for the organization in its route to
achieve its Vision.*
Differentiation
Factor
Qualities of the ideal employee
CORE VALUES DRIVERS
Nature of the business
Human value Customer
orientation
1. STRATEGIC FOUNDATION
* LOGIC Management Consulting, Strategic Foundation Guide, 2009.
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4.KSFs
• Key success factors KSFs are integral components of a company’s strategic foundation.
• A key success factor is an element of organizational activity which is central to its future success and may change over time.
• Based on business analysis, KSFs are defined to best fit business currents with the purpose of providing strategic guidance.
• In order to be effectively mobilized, a company’s KSFs should range from 3 to 5 factors, in order to allow focused strategy alignment.
• KSFs are assessed according to number of criteria most importantly including*:
1. Fitting business nature
2. Sensitivity to the organization’s life-cycle stage
3. Alignment with business priorities
1. STRATEGIC FOUNDATION
* John F. Dix and H. Lee Mathews, The Process of Strategic Planning, Ohio State University, 2008
SESSION OUTLINE
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1. STRATEGIC FOUNDATION
2. BUSINESS MODEL CANVAS
3. STAKEHOLDERS IDENTIFICATION, MAPPING, AND ANALYSIS
4. SWOT ANALYSIS & PLANNING
5. BUSINESS SCOPE PLANNING
6. A SECOND LOOK AT YOUR BUSINESS IDEA
7. STRATEGY STATEMENT
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2. BUSINESS MODEL CANVAS
• A Business models is a systematic and structured strategic tool that describes the rationale of how an organization creates, delivers, and captures value.
• Business models help organizations remain strategically focused by defining and linking key organizational drivers within an integrated model canvas.
KA KR VP CR PN DC C$ CS R$
Business Model Canvas Components
Partner Network
Key Activities
Key Resources
Value Proposition
Customer Relationship
Distribution Channels
Customer Segments
Cost Structure
Revenue Streams
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2. BUSINESS MODEL CANVAS
B U S I N E S S M O D E L C A N V A S *
* Alexander Osterwalder & Yves Pigneur, Business Model Generation, Self Published, 2009.
SESSION OUTLINE
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1. STRATEGIC FOUNDATION
2. BUSINESS MODEL CANVAS
3. STAKEHOLDERS IDENTIFICATION, MAPPING, AND ANALYSIS
4. SWOT ANALYSIS & PLANNING
5. BUSINESS SCOPE PLANNING
6. A SECOND LOOK AT YOUR BUSINESS IDEA
7. STRATEGY STATEMENT
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3. STAKEHOLDERS IDENTIFICATION, ANALYSIS, AND MAPPING
Identify Analyze Map
B R A I N S T O R M I N G
Listing Stakeholders
DIVERGENT PHASE
CONVERGENT PHASE
Primary Subjective Filtration
Refined list of identified
stakeholders to be further
analyzed
* Model developed by PA Consulting, UK
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3. STAKEHOLDERS IDENTIFICATION, ANALYSIS, AND MAPPING
Identify Analyze Map
S T A K E H O L D E R S R E G I S T E R *
STAKEHOLDER CATEGORY AREA OF INTEREST
INTEREST SCORE
AREA OF INFLUENCE
INFLUENCE SCORE
THEME MANAGEMENT
STRATEGY
Stakeholder 1
.
Stakeholder 2
Stakeholder 3
Stakeholder 4
Stakeholder 5
Stakeholder 6
Stakeholder 7
Stakeholder 8
Stakeholder 9
Stakeholder 10
* Template library at www.method123.com
SESSION OUTLINE
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1. STRATEGIC FOUNDATION
2. BUSINESS MODEL CANVAS
3. STAKEHOLDERS IDENTIFICATION, MAPPING, AND ANALYSIS
4. SWOT ANALYSIS & PLANNING
5. BUSINESS SCOPE PLANNING
6. A SECOND LOOK AT YOUR BUSINESS IDEA
7. STRATEGY STATEMENT
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4. SWOT ANALYSIS & PLANNING
• SWOT stands for Strengths, Weaknesses, Opportunities and Threats.
• The SWOT Analysis process includes both an internal analysis of strengths and weaknesses and an external analysis of threats and opportunities in the environment.
Analyze Plan
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SESSION OUTLINE
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1. STRATEGIC FOUNDATION
2. BUSINESS MODEL CANVAS
3. STAKEHOLDERS IDENTIFICATION, MAPPING, AND ANALYSIS
4. SWOT ANALYSIS & PLANNING
5. BUSINESS SCOPE PLANNING
6. A SECOND LOOK AT YOUR BUSINESS IDEA
7. STRATEGY STATEMENT
Thank You
Eng.Eslam EL-sadek Mobile :01002915454 Email : [email protected] Facebook: Eslam ELsadek