Networking skills
With whom
Individuals
Business relations
Social groups
Why to network
Easy access to resources
Gain trust easily
Support of others in succeeding
Inability to network
Do not trust easily
Lack of confidence in abilities
No clarity on objectives
How to network
Show confidence
Capture opportunities
Entrepreneurial Orientation
Meaning
Competitive Aggressiveness
Action oriented
Awareness
Proactiveness
Risk taking abilities
in the employees
in the organisation
Independent thoughts and action
Innovative thoughts and solutions
Innovation
Creative solutions
Likes to experiment
Not afraid of failure
Driven by
Individual
Personal traits
Organisation
Past history and resources
Type of industry
Some are more innovative than others
Resources
Impacts
Focus of future actions and resource allocation
Ability to compete
Tough decisions
Managing finances
Profitability analysis
Analysing future cash flows and growth
Funding the growth
Debt sources
Equity sources
Decisions on strategy
Current resources and desired performance
Internal management agreements
When to exit
Risk Management
Working with the risk
Planning for risk
Strategy & planning
Entry and Exit strategy
Business formation
Sole trader
Partnership
Public listed company
Channel partners
Franchise management
Growth Strategy
Marketing
Information as a source of marketing intelligence
Marketing though 4 Is
Intuitive
Informal
Identification
Interactive
Strategy
Product, place, price, promotion
Segmentation
Sales matrix
Positioning
Which problem
How to solve
Marketing plan
Internal factors
External environment
Opportunities and threats
Resources
Competitive Strategy
Beat competition through marketing
Why companies fail
Lack of finances or poor financial management
Unable to provide relevant solutions to customers
Unable to compete effectively
Inability to sustain
Definition
Traits
Innovative
Opportunistic
Risk taker
People managment
Expertise in the chosen field
Confidence in the abilities
Types
Beginners
Experienced
Entrepreneur managers
Scope of business
High growth aspirations
Boutique firm
Scale achievement
Grow it
Acquire it
becoming an entrepreneur
Reasons
Higher profits
Innovative ideas
Personality traits
Like the challenges
Have survival instincts
Desire to achieve more in life
Right mix of skills and attitude
Genetic factors
Supportive environment
Policies in favour of entrepreneurs
growing industry
Barriers for others to enter
Extra profits
At the right place at right time
Financial resources
What is the right mix
Resource availability
Other responsibilities
Education
Age of the entrepreneur
Role of gender in success
What and How
Creative solutions
Basic requirement for an entrepreneur
Source of innovative ideas
Ability to work better than others
Present in all (Situated)
Different treatment to the problems
Can be
Creation
Modification
Synthesisation
Process of creativity
Preparation
Innovation
Divergence
Incubation
Convergence
Psychological process
Predisposed
Sensing
Intution
Thinking
Feeling
Impacted by
Individual
Resources
Environment
Opportunity recognition
Discover
Evaluate
Research
Development
Plan
Act
Investments
Resource allocation
Organisational readiness
Cause and effect