Entrepreneurship PSG STEP Presentation1

7/30/2019 Entrepreneurship PSG STEP Presentation1

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Entrepreneurship: What is it NOT?

Some myths . . .

Entrepreneurs have more freedom in life (i.e., I wont have

anyone looking over my shoulder)

Money is the main reason to be an entrepreneur

Entrepreneurs have the ability to control things

Going public with my company some day will be an easy

way to make a lot of money. Entrepreneurs are gamblers.

Entrepreneurs dont have to worry about numbers.

All you need is money to be an entrepreneur.


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Entrepreneurship development model

attitudes, intent and

behaviour

skills and

experiences

supporting

infrastructure

increased

entrepreneurial

behaviour

more business

start-ups

business

growth

social

impact

increase

innovation

job

creation

economic

growth

poverty

reduction


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Low enterprising

behaviour

Low

enterprising

belief

High

enterprising

belief

Highenterprising

behaviour

SELF STARTERS

7%13%

INDEPENDENCE

SEEKERS

CREATIVETEAM PLAYERS

18%

18%

CAUTIOUS

AVOIDERS

RISK AVOIDERS

16%STRUCTURED

PLANNERS

18%

UNCERTAIN

ENTHUSIASTS

10%

Segmentation research


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Entrepreneur

somebody who assumes the risk and

responsibility for a business

somebody who starts an enterprise


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The Entrepreneurial Process(

Opportunity Resources

Team

Communication

Business Plan

Fits and Gaps

CreativityLeadership

Capital Market ForcesUncertainty

AmbiguityExogenous Forces

Founder


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Government Market Forces

The Early 1900s Reflected a Free

Market Approach


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Late 1900s Reflect an

Increasingly Activist Approach


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Emergence of the New

Entrepreneurial Economy

23 million small business

today in Indian economy

Make up 50% of GDP

New business formation

has grown from about

200,000 per year in mid

1900s to over 3.5 million

per year today

Survival rates are now

over 50%


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Entrepreneurship and

Employment

Over 50% of workforcenow is employed in small

businesses 45% of total payroll

comes from smallbusinesses

69% of employers are

small businesses Entrepreneurs and small

business owners areresponsible for 77% ofnew jobs created in past

twenty years


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Entrepreneurship and

Innovation Small businesses create

67% of all new

innovations in India 95% of all radical

innovations over the past

60 years have come from

small businesses Create 14 times the

number of patents per

employee than large

patenting firms


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Entrepreneurship

Two demographic

groups are mostactive in this

economic transition:

Baby Boomers(Entre-Boomers)

Entrepreneurial

Generation


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The Entrepreneurial Generation

They are those born

between 1977 and 2002

50% of todays college

students have business

ownership as a primary

career goal

They are more financiallysavvy37% of todays

college students already

thinking and planning for

retirement.

They are independentthinkers

They embracechange and theyview entrepreneurshipas a career path thatwill allow them to usethe changes that areoccurring in ourcurrent world to their

advantage


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The Entrepreneurial Generation

Work is important

They seek high levels of

achievement 40-50% They want their work to

make a difference andhave meaning.

But, they do not want it to

become all consumingthey seek the ability tocreate balance throughbusiness ownership


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Values-based Approach

Culture


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Exit orSuccession?

Documents

Entrepreneurship PSG STEP Presentation1