1. Lecture No: 3 ENTREPRENEURSHIP Malik Jawad Saboor Resource Person:
Assistant Professor
Department of Management Sciences
COMSATS Institute of Information Technology
Islamabad.

2. Previous Lecture Review
Define the term entrepreneur
Describe the entrepreneurial profile.
Describe the benefits of entrepreneurship.
Describe the drawbacks of entrepreneurship.

3. Objectives
Explain the forces that are driving the growth of entrepreneurship.
Explain the cultural diversity of entrepreneurship.
Put failure into proper perspective.
Avoiding the Pitfalls of Small Business Failure.

4. Feeding the Entrepreneurial Fire
Entrepreneurs as heroes
Entrepreneurial education
Demographic and economic factors
Shift to a service economy

5. Feeding the Entrepreneurial Fire
Technological advancements
Independent lifestyles
E-commerce and the World Wide Web
International opportunities

6. The Cultural Diversity of Entrepreneurship
Young entrepreneurs
Women entrepreneurs
Minority-owned enterprises
Immigrant entrepreneurs
Part-time entrepreneurs

7. The Cultural Diversity of Entrepreneurship
Home-based businesses
Family businesses
Copreneurs
Corporate castoffs
Corporate dropouts

8. Deadly Mistakes of Entrepreneurship
Management mistakes
Lack of experience
Poor financial control
Weak marketing efforts
Failure to develop a strategic plan

9. Ten Deadly Mistakes of Entrepreneurship
Uncontrolled growth
Poor location
Improper inventory control
Incorrect pricing
Inability to make the “entrepreneurial transition”

10. Putting Failure into Perspective
Entrepreneurs are not paralyzed by the prospect of failure.
Failure – a natural part of the creative process.
Successful entrepreneurs learn to fail intelligently.

11. Avoiding the Pitfalls of Small Business Failure
Know your business in depth
Develop a solid business plan
Manage financial resources
Understand financial statements
Learn to manage people effectively
Keep in tune with yourself

12. Lecture Review
Explain the forces that are driving the growth of entrepreneurship.
Explain the cultural diversity of entrepreneurship.
Put failure into proper perspective.
Avoiding the Pitfalls of Small Business Failure.
Reference: Essentials of Entrepreneurship & Small Business Management, Zimmer, Scarborough &Wilson, 5th Edition