Welcome to Marketing & Entrepreneurship Session 1: Exploring Enterprise Shahid Rasul

1. Welcome to Marketing & Entrepreneurship Session 1: Exploring Enterprise Shahid Rasul

2. Exploring Enterprise • Introduction to the course • Definitions • Enterprise Agenda • Enterprise Culture

3. Enterprise • a project undertaken or to be undertaken, esp. one that is important or difficult or that requires boldness or energy: To keep the peace is a difficult enterprise. • a plan for such a project. • boldness or readiness in undertaking; adventurous spirit; ingenuity. • a Business Organisation • willingness to undertake new ventures; initiative: “Through want of enterprise and faith men are where they are, buying and selling, and spending their lives like serfs” (Henry David Thoreau).

4. Enterprise is….. • making things happen • doing things differently • having ideas • and doing something about them • taking advantage of opportunities • to bring about change

5. Narrow Meaning Starting a business Being in business Growing a business Developing a business The business itself Broader Meaning Attitudes & Skills which when possessed by individuals, lead them to exhibit innovative behaviour, including entrepreneurship Enterprise BUSINESS BEHAVIOUR Adapted from Understanding Enterprise, Entrepreneurship & Small Business - Bridge, O’Neil & Cromie

6. Enterprise in Context Enterprise Entrepreneurship Intrapreneurship Small Business Adapted fromUnderstanding Enterprise, Entrepreneurship & Small Business - Bridge, O’Neil & Cromie INNOVATION

7. Module Content • Introduction to Enterprise • Understanding Entrepreneurship (TA - ALL) • Role of the Entrepreneur (TA- ALL) • Business Case Studies • Market Opportunity Recognition (TA - ACEG) • Evaluating the Opportunity (TA - BDFH) • Creating a Business Model (T- ALL) • Developing the Business Plan (T – ALL) • Financial Planning (T- ALL) • Entrepreneurial Organisation • Managing Growth & Exit • 12 Presentations

8. Course Format • Lectures • Tutorials • Case Studies, Activities, Guest Speakers • Consultation regarding coursework • Presentations • Personal study and reading • Working in TEAMS • Researching & collecting information

9. Why all the fuss? Entrepreneurship and innovation are central to the creative processes in the economy, to promoting growth, increasing productivity and creating jobs. UK Government White Paper on Competitiveness The promotion of enterprise, in every aspect of society and every corner of our country, is at the heart of Government’s agenda. Entrepreneurial talent is essential to deliver social justice, locally and nationally. Enterprise for Communities

10. Business Enterprises in UK Number - 3.8 million (excl Government & non-profit) 99.1 per cent small (0 to 49 employees) 27,000 were medium-sized (50 to 249 employees) 7,000 were large (250 or more employees) Employment - 22.7 million people 43.7 per cent in small enterprises 11.9 per cent in medium-sized enterprises. Turnover: £2.2 bn 37.0 percent Small Enterprises 15.0 percent Medium Enterprises DTI - National Statistics

11. Business Enterprise Private Sector Social, Economic, Environment, Ethics Corporate Enterprise Private & Public Sector Social Enterprise Not for profit sector Types of Enterprise

12. Change is Inevitable? Internet Fact The number of people and computers connected to the internet doubles every twelve months. Exponential Growth Increasing Competition Computers Bandwidth Globalisation Deregulation Technology Innovation Accelerating Complexity Only the wisest and stupidest of men never change. Confucius Product Proliferation Rate of change Source: New Venture Creation - Entrepreneurship for the 21st Century - Timmons

13. Economic Environmental What’s Happening Social/ Cultural/ Demographics Technology Political Global Paradox

14. What has changed?

15. In the first industrial revolution, what mattered was who had the raw materials, the capital and the ports. What matters most now is which country has the shared determination and the national purpose to tap the energy, dynamism and potential of the widest pool of talented people. Gordon Brown – Chancellor of the Exchequer 2003

16. Knowledge Growth vs. Human Evolution knowledge growth GROWTH human evolution genes and culture Ecology of Networks Agricultural Industrial ERAS

17. An Enterprising Person….. …….is one who comes across a pile of scrap metal and sees the making of a wonderful sculpture. An enterprising person is one who drives through an old decrepit part of town and sees a new housing development. An enterprising person is one who sees opportunity in all areas of life. Jim Rohn – Business Philosopher

18. Economy Enterprise & Innovation Environment Society Enterprise in Context

19. You Unlocking Value Resources Unlocking Value Opportunities Rae (1999:16)

20. Personal Factors • Accelerating Change • Large  Safe • Qualifications Alone Insufficient • Respected becomes Expected • Ignore Passion at your Peril

21. Charles Handy We are entering a time when the future, in so many areas, is to be shaped by us and for us; a time when the only prediction that will hold true is that no prediction will hold true; a time for bold imaginings, for thinking the unthinkable and doing the unreasonable.

22. Useful Websites www.channel4.com/life/microsites/R/realdeal/ One stop shop for Budding Entrepreneurs with Self Assessment & Road Tests www.zeromillion.com/entre/stories/ Stories about entrepreneurs www.motivation-tools.com/ Interesting website on motivation www.entrepreneurialprocess.com/entrebook.htm An online book on entrepreneurship