1. Enhancing personnel creativity- brain storming exercises
Tutorial Class _ Week 2 &3
Enhancing personnel creativity- brain storming exercises

2. Tutorial class plan Weekly Schedule Assessment plan
Product display and verbal explanation of the business idea ( Week 8)
Presenting the business plan ( Week 14)
Project ( Writing the business plan) ( Week 16)
Next week we will have a guest speaker from Center of Consultancy Service and Innovation Transfer ( UoN)

3. Plan for today class Global Successful Entrepreneurs
Overview about the role of Entrepreneurship in the economic growth and development
Video about : The power of Entrepreneurship
The Seven Stages in the Entrepreneurial Life Cycle
Video about: Why innovation is important ? & others video shows
Discussion group about your business idea

4. What will you do this semester?
You will plan a new business. You will develop a business idea. You will make plans as if you were going to start a new company. By the end of the course you will have a complete business plan equal to the plans used by entrepreneurs all over the world.

5. Where do you find a business idea?
Your hobbies (what you do for fun)
Your needs
Needs you see around you
Opportunities created by change

6. Successful Entrepreneurs – for fun
Steven Jobs Created Apple computer – 1977 Why? Fun. He liked playing with computers, and turned his fun into a company.

7. Successful Entrepreneurs – for fun
Mark Zuckerberg Created Facebook Why? Fun. He wanted a way to easily communicate with his friends at college and to share pictures.

8. Successful Entrepreneurs – for fun
Can you make a business from your fun?
Games – create and sell a game (Oman Monopoly)
Hobbies – create and sell artwork, photographs, cookbooks
Equipment – design a new surfboard or motocross parts
Services – you like to dive, so you start a business leading dive tours. You like camel racing, so you start a website on camel racing.

9. Successful Entrepreneurs - needs
Dan Bricklin Inventor of the Spreadsheet Visicalc Visigraph Visidex Needed quick calculations for his school assignments We now all use Excel as our spreadsheet

10. Successful Entrepreneurs - needs
Malcolm MacLean Needed good way to quickly put materials onto a ship, a railroad car, or a truck. Designed a box that could be picked up at the corners and stacked. It had standard sizes. We call them containers.

11. The role of entrepreneurship in
Innovation and change
New venture creation
Job creation
Business growth
Regional development

12. 1- Innovation and change
Innovation in business sense can mean a lot
Developing new product
Developing new technology
Developing any new way of doing something
New way of delivering an existing product or services
New way of informing the customer about the product
Any new approach to manage the business and gain profit

13. Tools for BUSINESS MODEL INNOVATION

14. Digital Business Models

15. Creative thinking Creative thinking ; see this
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16. Advertising Model

17. 2- New venture creation
Many people are forced to create new venture as alternative to unemployment
Some companies or institutions allow for their employees to create business through share option
the role of entrepreneur is to “discover” and “exploration” the innovative opportunities

18. Oman daily news: 26/9/2016 Al Raffd Fund finance 1689 projects.
Job opportunities from financed projects were about 3000 job positions

19. The importance of entrepreneurship
The power of Entrepreneurship QQ

21. Advantages and disadvantages for Self-employment
See this and-disadvantages-of-self-employment

22. In US
Small business can create 60 – 80 % of new jobs in some countries
Small business are a major source for innovation in technology and product development
Small business account around one half of all private sector business
Small business provide an important pathway for social and economic development advancement especially for women, minorities, and immigrants.
Increase the wealth of individual

23. The context of Oman Oman vision 2020 Omanization (localization) policy
Main challenges for Oman economy:
depending on oil and gas as the key’s sources for the economic growth and development,
The high increase in the population rate,
limited economic diversification,
dependence more on foreign labor
Oman economy will need to create 45,000 new positions each year (IMF, 2013)

24. Think !!!
Why Oman government and policy makers need to enhance and support entrepreneurship in the economy?

25. Why Oman needs entrepreneurship?
The public sector can’t offer jobs positions for the increasing growth of young population (1/3 of Omani population are in education institutions)
Small business accounts for 16% of Omani GDP ( in future they could have the capacity to create jobs)
Tool for job generation
Economic diversification
Tool for technology advancement and innovation

27. The Seven Stages in the Entrepreneurial Life Cycle
Stage 1. Opportunity Recognition
“pre-start” analysis
research and understand the dimensions of the opportunity
Stage 2. Opportunity Focusing
Should I go or not for this opportunity
Evaluate the opportunity/market
Stage 3. Commitment of Resources – the Business Plan
Preparing the business plan
Resource allocated to the business plan

28. The Seven Stages in the Entrepreneurial Life Cycle
Stage 4. Market Entry
Evaluate the profitability and success of the entry
Stage 5. Full Launch and Growth
the entrepreneur needs to choose a particular high- growth strategy
Stage 6. Maturity and Expansion
implementing the venture’s growth strategy through global expansion, acquisitions, and mergers
Stage 7. Liquidity Event
Harvest stage

29. Why innovation is important?
gm4w

30. Creativity & Innovation
What is the difference between creativity and innovation?
obbM

31. difference between creativity and innovation?
Entrepreneurship tools to change the opportunity for different business or different services, therefore entrepreneurship and innovation are inter-linked
Original ideas
Generating something from nothing
Ex. Just Eat or Seameless
New ideas to reduce the use of water in farms
Process of change

32. What is your business idea?
Have you think outside the book when you choose your business idea?
Why your project is new?
Is it innovative?
What is the new in your business?
Why you are different?
Why you choose this idea?
KEEP ASKING WHY & WHY & WHY …

33. Entrepreneurial mindset

34. WHAT IS A BUSINESS MODEL
The business model must answer the key question related to your business
WHAT IS A BUSINESS MODEL
“…describes the rationale of how an organization creates, delivers and captures value”
Behind that KEY question is a lineup of other questions:
Who's your target customer?
What customer problem do you solve?
What value do you deliver?
How will you reach, acquire, and keep customers?
How will you define and differentiate your offering?
" " they " " " " " ?
How will you generate revenue?
How will you generate profit?
What's your cost structure?
How will you scale?
Sell tickets?
% of service
# of subscribers?
Fixed fee?
Time & materials +?
IP License?