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Entrepreneurship
BENAZIR BHUTTO SHAHEED YOUTH
DEVELOPMENT PROGRAM
07/08/14
BENAZIR BHUTTO SHAHEED YOUTH
DEVELOPMENT PROGRAM
Overview
• What is an entrepreneur?
• Characteristics of an entrepreneur
• Planning to be an entrepreneur
• Growth pressur...
What is an
Entrepreneur?
Entrepreneur…
… takes on the risk of starting
their own enterprise or
investing in other start-ups.
Definition of an
Entrepreneur
An entrepreneur is someone
“who sets up a business or
businesses, taking on financial
risks ...
Small Business Owners
• Small business owners are people who own a
major equity stake in a company with fewer
than 500 emp...
• Self-Actualization
• Esteem
• Love
• Safety
• Physiological
Maslow’s Hierarchy of Needs
BENAZIR BHUTTO SHAHEED YOUTH
DEV...
Maslow’s Hierarchy of NeedsMaslow’s Hierarchy of Needs
PHYSIOLOGICAL OR SURVIVAL NEEDS
MOST NEEDS HAVE TO DO WITHMOST NEED...
Maslow’s Hierarchy of NeedsMaslow’s Hierarchy of Needs
PHYSIOLOGICAL OR SURVIVAL NEEDS
SAFETY NEEDS
ON THE WHOLE AN INDIVI...
Maslow’s Hierarchy of NeedsMaslow’s Hierarchy of Needs
PHYSIOLOGICAL OR SURVIVAL NEEDS
SAFETY NEEDS
LOVE, AFFECTION, AND
B...
Maslow’s Hierarchy of NeedsMaslow’s Hierarchy of Needs
PHYSIOLOGICAL OR SURVIVAL NEEDS
SAFETY NEEDS
LOVE, AFFECTION, AND
B...
Maslow’s Hierarchy of NeedsMaslow’s Hierarchy of Needs
SELF-SELF-
ACTUALIZATIONACTUALIZATION
NEEDNEED
FORFOR
MASLOW EMPHAS...
Maslow’s Hierarchy of NeedsMaslow’s Hierarchy of Needs
SELF-SELF-
ACTUALIZATIONACTUALIZATION
NEEDNEED
FORFOR
MASLOW EMPHAS...
Maslow’s Hierarchy of NeedsMaslow’s Hierarchy of Needs
PHYSIOLOGICAL OR SURVIVAL NEEDS
SAFETY NEEDS
LOVE, AFFECTION, AND
B...
Employee Satisfaction
• In companies with less than 50 employees, 44% were
satisfied.
• In companies with 50-999 employees...
Employee Satisfaction
Employee Satisfaction
28
31
44
0
10
20
30
40
50
less than 50 50-999 1000+
Number of Employees
Satisf...
Advantages of a Small Business
• Greater Opportunity
to get rich through
stock options
• Feel more important
• Feel more s...
Disadvantages of a Small Business
• Lower guaranteed pay
• Fewer benefits
• Expected to have many skills
• Too much cohesi...
Why NOT to be an Entrepreneur
• Uncertainty of income
• Risk of losing entire invested capital
• Lower quality of life unt...
Who are entrepreneurs?
• Common traits
– Original thinkers
– Risk takers
– Take responsibility for
own actions
– Feel comp...
Why should you be interested?
• Many young people have succeeded:
– Michael Dell - Dell Computers
– Frank Carney - Pizza H...
Successful and Unsuccessful
Entrepreneurs
• Successful
– Creative and Innovative
– Position themselves in
shifting or new ...
Characteristics of Entrepreneurs
Successful
Entrepreneurs
Key Personal
Attributes
Good Technical Skills
Strong Managerial
...
Key Personal Attributes
• Entrepreneurs are Made, Not Born!
– Many of these key attributes are developed early in life,
wi...
Key Personal Attributes (cont.)
• Entrepreneurial Careers
– The idea that entrepreneurial success leads to more
entreprene...
Key Personal Attributes (cont.)
• Need for Achievement
– A person’s desire either for excellence or to succeed in
competit...
Key Personal Attributes (cont.)
• Desire for Independence
– Entrepreneurs often seek independence from others
– As a resul...
Key Personal Attributes (cont.)
• Self-Confidence
– Because of the high risks involved in running an
entrepreneurial organ...
Key Personal Attributes (cont.)
• Self-Sacrifice
– Essential
– Nothing worth having is free
– Success has a high price, an...
.
Ten Qualities of Prophet
Mohammed
as successful entrepreneur
Islam is a complete way of life
•The revelation from Allah and the teaching of prophet
Muhammad are not confined only to t...
•By virtue of human Nature the Muslim entrepreneurs are
khalifah , and have the responsibilities to develop prosperity
and...
Why we need a role model ?
• No community has been without its righteous guides
and teachers to help its people towards th...
Who is our role model?
• He maintained the best characteristics in his
roles as father, husband, friend, ruler,
governor, ...
Almighty Allah says: “There has certainly been for you
in the Messenger of Allah an excellent pattern for
anyone whose hop...
My choice of Muhammad to lead the list of the world's most
influential persons may surprise some readers and may be
questi...
Ten qualities of prophet Mohammed :
1- Honesty
2- Trustworthy
3- Flexibility
4- Conscious responsibility
5- Good manner wi...
1- Honesty
Honesty descended from the Heavens and settled in the
roots of the hearts of men (faithful believers), and then...
Honesty
Undoubtedly, no one can be more truthful and honest
than the Messengers of God. Muhammad proved by his
living exam...
2-Trustworthy
• The second attribute of Prophethood is amana, an Arabic
word which means ‘trustworthiness’.
• It is derive...
3-Flexibility
• Muhammad (s) was never strict in his business
dealings with others. Sa’ib ibn al-Sa’ib relates:
• During t...
In a hadith reported by Abdullah b. Omar Prophet
Muhammad said: "We are all shepherds and we are all
responsible for those...
"I am more rightful than other believers to be the
guardian of the believers, so if a Muslim dies while in
debt, I am resp...
The Prophet was very close to his companions, and this
is well-known when one reads the detailed reports about
the Prophet...
•The Prophet (pbuh) would consult his Companions, and
take their opinions and points of view into consideration in
issues ...
In line with the divine command: {… and consult with them
in the matter…} (Al `Imran, 3: 159), Prophet Muhammad
used to co...
7-The Messenger of God (pbuh) would serve himself:
A’ishah said:
"I was asked how the Messenger of God (pbuh) behaved in h...
A good leader is one who sees the positive traits of his
team members and invests in them. This is exactly what
the Prophe...
9- Correcting His Companions’ Mistakes
. What is more important is learning from our mistakes and not
repeating them. Prop...
10-Gentleness is a key quality of Prophet Muhammad
Prophet Muhammad (peace be upon him) loved his
companions and cared for...
It is now the Muslims’ turn to re-live the conduct of the
Prophet (peace be upon him) and embrace it in their daily
lives....
Technical Proficiency
• Many entrepreneurs demonstrate strong technical skills,
typically bringing some related experience...
Planning
• Business Plan – A step-by-step outline of how
an entrepreneur or the owner of an enterprise
expects to turn ide...
Questions To Keep In Mind
• What are my motivations for owning a business?
• Should I start or buy a business?
• What and ...
Motivations
• Deciding what your motivations are will
direct you toward what type of business fits
you best.
• Types:
1. L...
1. Lifestyle Venture
• Small company that provides its owner
independence, autonomy, and control.
• Is often run out of ho...
2. Smaller Profit Venture
• Small company not concentrated on pushing
the envelope and growing inordinately large.
• Makin...
3. High Growth Ventures
• Goal is maximum profit and growth.
• Concentrated on pushing envelope and
growing as large as po...
Start or Buy?
• Start – cheapest, but very difficult
-requires most planning/research
• Buy – expensive – may be out or re...
The Market???
• Planning & Research essential
• Extensive market surveys (family, friends,
neighbors…)
• Magazines and Pol...
What about the cost?
• Plan realistically, not optimistically
• Don’t overestimate your profits
• Don’t underestimate your...
Domestic or Global?
• Drawbacks to Global – more research and less
accessible connections in startup phase, more
travel ti...
Entrepreneurship: Growth Pressures
Entrepreneurs often find that as their business grows, they feel more
pressure to use f...
Entrepreneurship: Growth Pressures
Entrepreneurial and Formal Organizations differ in
six business dimensions:
 Strategic...
Entrepreneurship: Growth Pressures
Business
Dimension
Entrepreneurial
Organization
Formal
Organization
Strategic orientati...
Entrepreneurship: Growth Pressures
Going Global….
From domestic to worldwide expansion, globalization can be extremely
rew...
Entrepreneurship: Managing a Family Business
 Over 50% of the U.S. Gross Domestic Product (GDP) is generated from
family ...
Entrepreneurship: Managing a Family Business
Two reasons not to go into business with your family or friends.…
Families fi...
Entrepreneurship: Managing a Family Business
Six steps to help lead you to a successful Family Business:
 Clear job respo...
Entrepreneurship: Managing a Family Business
Operational vs. Survival Issues….
Operational = Decisions about the economics...
Entrepreneurship: Corporate INTRA-preneurs
Intrapreneur = someone in an existing organization who turns new
ideas into pro...
One More Time
• What is an entrepreneur?
• Characteristics of an entrepreneur
• Planning to be an entrepreneur
• Growth pr...
Management Functions
Outlines
• Management process and functions
• Fundamental management skills
• Managerial roles
The Management Process
Hierarchical-Level Differences
Among Managers
Planning Organizing LeadingControlling
Controlling
Controlling
Leading
Leadi...
Skills and
the
Manager Technical SkillsTechnical Skills
InterpersonalInterpersonal
SkillsSkills
ConceptualConceptual
Skill...
Fundamental Management Skills
• Technical
– Skills necessary to accomplish or understand the specific
kind of work being d...
3 Primary Managerial Skills
• Technical skills FOCUS IS ON WHAT
IS DONE
– Specialized knowledge and proficiency
– Analytic...
Management Skill Mixes
at Different
Organizational Levels
1–81
Managerial Roles
• Interpersonal Roles
– Organizational roles that involve serving as a figurehead, leader, and
liais...
Key Managerial Roles
KeyKey
ManagemenManagemen
t Rolest Roles
KeyKey
ManagemenManagemen
t Rolest Roles
InterpersonInterper...
Intrapreneurship
• There are people working in big org holding key
positions. They are quite innovative & bring many
chang...
Entrepreneur Intraprenuer
1. Entrepreneur is employer 1. Intraprener is employee
2. Independent in operation 2. Depends on...
THEORIES OF ENTREPRENEURSHIP
• The Economist’s View
• According to the economist entrepreneurship and
economic growth will...
• According to Cantillon an entrepreneur is an
uncertainty bearer buying at a fixed price
and selling at an uncertain pric...
• Small industry is a natural habitat of the
entrepreneur where his role is like that of a
striker who keeps the fire burn...
• The Sociologist’s View
• It emerges under a specific social culture.
• According to sociologist’s social sanctions,
cult...
e.g.
Protestant ethic from west emerge as new class of
industrialist .
Samurai from Japan ,
Christians from Lebanon,
Halai...
The Psychologist’s view
• It is most likely to emerge when a society
has sufficient supply of individuals
possessing parti...
• Entrepreneur possesses three things i.e. an
institutional capacity to see things in a way
which later proves to be true,...
• Managerial Views
• This view gives more importance to the
managerial aspects like perception of
market opportunities and...
CLASSIFICATION OF ENTREPRENUERS
• INNOVATIVE ENTREPRENEUR: he is the one who
introduces a new product or a new method of
p...
• DRONE ENTREPRENEUR: Drone entrepreneur are
those who never allow any change in their
production & style of functioning. ...
WOMEN ENTREPRENEURS
• They are a woman or group of women who
initiate, organize & operate a business
enterprise.
• Accordi...
Family Business
• Major portion of capital is contributed by
family.
• Family members take major decisions & they
occupy d...
FACTORS AFFECTING
ENTREPRENEURIAL GROWTH
1. ECONOMIC FACTORS
a) Lack of adequate overhead facilities:
Profitable innovatio...
b) Non availability of capital
Inventions are capital oriented. In less
developed countries most capital equipment
have to...
d) Non availability of labor and skills
Though there is abundant labor supply there is
generally scarcity of skills at all...
3. CULTURAL FACTORS
if the culture is economically or monetarily
oriented entrepreneurship would be
applauded and praised....
4. PERSONALITY FACTORS
In less developed countries the entrepreneur
is looked upon with suspicion. Public
opinion in the l...
IMPORTANCE OF ENTREPRENEURSHIP
IN DEVELOPED ECONOMY
• The nature of a developing economy is quite
different from a develop...
• The modern era is an era of changes. The
whole world is becoming a village due to the
industrial revolution and fast dev...
• Economic development is a highly dynamic
process characterized by the pattern of
demand shifts, new products are needed,...
• A developing economy is required to be
brought out of the vicious circle of low income
and poverty.
• Entrepreneur can b...
MOTIVATION
• Motivation is the act of stimulating someone
or oneself to get a desired course of action, to
push the right ...
MOTIVATING FACTORS
• Education background
• Occupational experience
• Family background
• Desire to work independently in
...
Free Powerpoint Templates
Entrepreneurship:
Islamic Entrepreneurship
By
Nur Suhaili Ramli
Auckland, New Zealand
Theories and Concepts:
Entrepreneurship is
an integral parts of
Islamic religion
The Muslim entrepreneurs are ‘khalifah’
a...
Theories and Concepts:
In Islam, the activity also known
as Ibadah –or good deed
Position of Entrepreneurship and
business...
Theories and Concepts:
Islamic Economic System - Islamic
Entrepreneurship should operate within the
domain of Islamic Econ...
ISLAMIC ENTREPRENEURSHIP AS
INTEGRAL PART OF THE
RELIGION
Islam is a complete way of life. There is no
separation between ...
HUMAN NATURE
(The fitrah of human being)
By virtue of the human nature, the person
must firstly be a Muslim, then an
entre...
Motivation:
• Most entrepreneurs have the desire to
achieve successful business venture.
• The successful path and means f...
SUCCESS FORMULA BY AL-QURTUBI:
Halal – livelihood that are in accordance to
what is being outlined by Allah SWT and
syaria...
SEVEN STEPS
TOWARDS A
SUCCESS IN LIFE
ACCORDING TO
IMAM AL-GHAZALI
Level of
Knowledge
Level of Taubat or
repentence
Level ...
POSSESSION OF WEALTH IS ALLOWED
BASED ON THE FOLLOWING PRINCIPLES:-
• Allah S.W.T is the absolute owner of
wealth
• Allah ...
IBADAH
In Islam, involving in
business is part of
ibadah through the
fulfilment of fardhu
kifayah.
POSITION OF BUSINESS AND
ENTREPRENEUR:
ISLAMIC ENTREPRENEURSHIP MODEL
Islam Proposed
(Business
Venture)
Allah Prepared
(Fa...
ISLAMIC ECONOMIC SYSTEM:
Islamic Entrepreneurship
should be in the framework of
Islamic Economic System and
should assist ...
GUIDING PRINCIPLES OF ISLAMIC
ENTREPRENEURSHIP:
Guidelines for Islamic
Entrepreneurship and
business activities are wide
a...
MUSLIM ENTREPRENEURSHIP
ETHICS:
To prevent laziness
To eradicate fear
To search for legitimate ventures
To avoid forbidden...
THE ETHICAL BEHAVIOR OF MUSLIM
ENTREPRENEURSHIP
To avoid malicious behavior
To avoid squandering
To avoid stinginess
To pa...
EXEMPLARY CONDUCTS OF GOOD
MUSLIM ENTREPRENEURS DURING THE
PROPHET MUHAMMAD S.A.W REIGN
• Business is secondary when being...
References:
http://wiki.answers.com/Q/Characteristics
_of_Islamic_Entrepreneurship
www.perlis.uitm.edu.my/medec/images/......
Evolution of Entrepreneurship
&
Top Business Families in Pakistan
• Today we found many enterprises groups in
our country including some important as:
• Saigal group
• Dewan group
• Habib ...
• This led to the development of a class of
industrialists, later known notoriously as the
twenty-two families
• “The Ayub...
• After coming in power from one of those rich
family into politics (Sharif Family) they started
returning back these asse...
• Military regime of Pervaiz Mushraf continued
the process of liberalization by privatizing the
state-owned enterprises
• ...
1947-58 Era of emerging exchange rate and trade policies and
import substitution industrialization.
1953-64 Virtually all ...
1958-70 65% of total loans disbursed by PICIC, went to 37
monopoly houses, with the largest 13 of these
accounting for abo...
• Short-listing Pakistan's most influential
business magnates or Groups has never been
an easy task
• Among these gifted i...
1- Mian Muhammad Mansha Yaha
• Worth: £1.25b ($2.5billion)
• Mansha has around 40 companies on board
• Nishat Textile
• Ni...
Conti……
• He give the bid for UBL
• He also offer a bid PSO along with Patronas
• There is no stopping Mansha and he is st...
• Worth: £750m ($1.5billion)
• The Bestway Group started in 1976 with its first
Bestway cash and carry warehouse opened in...
• Habib is a prominent Muslim Khoja business family in
Pakistan
• A profile of Rafiq Habib in an Economic Review stated th...
• Habibs today are headed by Rafiq Habib and
Rashid Habib in two distinct groups
• What makes them extremely influential
p...
• Saddaruddin Hashwani is Chairman Hashoo
Group with a net worth of Worth: £550m
($1.1billion)
• Hashwanis are involved in...
• Worth: £425m ($850) Industry
• pioneer of the Saigol dynasty in 1890 was Amin Saigol who
established a shoe shop that ev...
• Dewan Mushtaq Group is one of the Pakistan's largest industrial
conglomerates in sectors like polyester acrylic fiber, m...
• Mr Yakoub is a prominent Pakistani expatriate businessman
based in Dubai.
• He is the president ARY group ($1.5Billion t...
• Not having the biggest Business like Men
• They were having less opportunities
• Mainly engaged in Clothing, Designing,
...
• Varan Tours, Sadar , Rawalpindi
• She established a transport company initially with
only one bus
• Then No increased to...
Ayesha Zeenat (GINA)
• Pappasalis, Islamabad
• She did a Diploma in Hotel and Restaurant
Management from the Conrad Hilton...
Robina Jamil
• Robina and her family underwent severe financial distress 10
years ago
• She then started a business of ass...
Discussion
LEADERSHIP GRID
What is Leadership ?
There are almost as many different definitions of
leadership as there are persons who have attempted
...
Implications of Leadership.
Leadership involves other people by their
willingness to accept directions from the leader it
...
Four Factors of Leadership
• Leader :You must have an honest understanding of who you
are, what you know, and what you can...
• Followers :Different people require different styles of leadership.
For example, a new hire requires more supervision th...
What is Leadership Grid.?
• Leadership grid explains how leaders help
organize actions to achieve to achieve their
objecti...
Elements of leadership grid
Authority – Compliance Management or task
management
Leaders who fall in this category heavil...
Impoverished management (1,1)
Leaders in this category are generally those who
arrived here merely by means of their posi...
• Team management
Leaders in this category consider people
relation, commitment and empowerment as a
means of achieving go...
Leadership Grid Model.
• The managerial grid model (1957) is a
behavioural leadership model developed by
Robert Blake and ...
Conclusion
• The grid theory has continued to evolve and
develop. Robert Blake updated it with in
(Daft, 2008). The theory...
Leadership Theories

“Great Man” Theories

Trait Theories

Contingency Theories

Situational Theories

Behavioral The...
“Great Man” Theories
Great Man theories assume that the
capacity for leadership is inherent – that
great leaders are born,...
Trait Theories
Similar in some ways to “Great Man” theories,
trait theory assumes that people inherit certain
qualities an...
Contingency Theories
Contingency theories of leadership focus
on particular variables related to the
environment that migh...
Situational Theories
Situational theories propose that leaders
choose the best course of action based
upon situational var...
Behavioral Theories
Behavioral theories of leadership are
based upon the belief that great leaders
are made, not born. Roo...
Participative Theories
Participative leadership theories suggest
that the ideal leadership style is one that
takes the inp...
Management Theories
Management theories (also known as
“Transactional theories”) focus on the role
of supervision, organiz...
Relationship Theories
Relationship theories (also known as
“Transformational theories”) focus upon the
connections formed ...
So, What Is Leadership?

The process of leading.

Those entities that perform one or more
acts of leading.

The ability...
Potential of Pakistan
in variety of fields
07/08/14
BENAZIR BHUTTO SHAHEED YOUTH
DEVELOPMENT PROGRAM
Exports$30.9 billion (2011 est.)
Main export partners
US 15.8%,
UAE 7.9%,
China 7.3%,
UK 4.3%,
Germany 4.2% (2010)
Export ...
Imports $39.9 billion (2011 est.)
Main import partners
China 17.9%,
Saudi Arabia 10.7%,
UAE 10.6%,
Kuwait 5.5%,
US 4.9%,
M...
Labour force 55.77 million (2010 est.)
Pakistan is one of few countries in the World to have
60 % or more Young labour for...
SALT RICH PAKISTAN
Second Largest
Salt mine in
the World
Khewra with
3,00,000 ton
annual
production
CANAL IRRIGATION
Pakistan has the
World’s Largest
canal Irrigation
system in the
World with
58,500 Km
length
Silk Route & Karakoram Highway
Silk Route was trade link
between the East and the
West around 100 BC and
lasted until the ...
Tarbella is the Second
largest dam in The World
with 12,20,00,000 Cu.M.
capacity.
The dam is 485 feet (148 m)
high. The da...
GOLD MINES IN PAKISTAN
5th
Largest Gold
deposit in the
World
is in Rekodek,
Pakistan with
estimation of
$ 260 Billion.
But...
COPPER DEPOSITS
• 5th
Largest Copper deposits
which can produce 15,810
tons annually from
Rekodek only.
• 40,000 tons soon...
REKODEK DEPOSITS SUMMARY
• The first phase of the project
is designed to produce
15,810 tonnes copper, 2.8
tonnes silver, ...
BLACK GOLD ABUNDANCE
One of the largest
Coal deposits in the
World at Thar
around 10,000 Km
and 184,575 metric
tons or 850...
RICE EXPORT PAKISTAN
5th
largest Rice exporter in
the World with 4.5 million
tons of Finest Quality rice.
The country’s do...
TOP WHEAT PRODUCER
8th
Largest Wheat producer
in the World with 23.5
million metric tons of wheat
production Annually. It
...
COTTON PRODUCTION
4th
largest cotton producer
with 16 million bales
production per annum.
ATOMIC NUCLEAR POWER
•CHASNUPP 1-325 MW
13 june 2000
•CHASNUPP 2-325 MW
14 March 2011
•CHASNUPP 3-330 MW 2016
•CHASNUPP 4-...
GWADAR THE FUTURE OF PAKISTAN
Gwadar is the Largest Deep
sea port in the world with
47 Km wide channel for
mother vessels....
GRAND THAR DESERT
• Thar is one of the
Largest Deserts
in the World with
2,00,000 sq. Km
area and Worlds
9th
largest deser...
ENGLISH SPEAKING NATION
• Pakistan is the 9th
largest English
speaking nation
in the World
LARGEST GHEE PRODUCER
Pakistan is the Largest Producer of
Ghee in the World.
The edible oil industry is comprised
of about...
CHICKPEAS
Pakistan is the
Second Largest
Producer of the
Chickpeas with
8,42,000 Tonnes
And 10 % of the
Worlds production
...
MOTORWAY OF PAKISTAN
Motorway Pakistan is the safest
and Peaceful motorway in All
Asia region.
M1= Peshawar to
Islamabad
M...
COTTON (60 % of total Export by cotton-textile)
• 4th
largest producer of
Cotton-Textile with Cotton
Production target of ...
APRICOT, Pakistan is No. 3 in the World
• Pakistan Prod. 325,779 Tons
• Pakistan No.3 & india No. 38
• Grown from 5000 yea...
SUGARCANE
Sugarcane production of the
World 1,743,068,525 tons
Pakistan is World no. 5 with
50,045,400 tons after brazil,
...
PAKISTAN4th
largest producer of onion in the World.
PRODUCTION:
1- China-20,817,295 tons
2- India-8,178,300 tons
3- USA-3,...
2nd
largest
MILK PRODUCTION PAKISTAN
•Pakistan is 2nd
largest
Buffalo milk producer in the
World with 2,03,72,000
tones (2...
PAKISTAN-
4th
largest producer of Date palm in World
1- Egypt- 13,50,000 MT.
2- Iran – 10,80,000 MT
3- Saudia 10,52,000 MT...
LARGEST MANGOES PRODUCER in the
WORLD is PAKISTAN
largest producer of Mangoes in the
World
1- Pakistan 13.6 Million tons (...
TANGERINE, ORANGE (Malta)
MANDARIN ORANGE(Kinnow)
11th
largest producer of
tangerines and mandarin
orange (kinnow) with
64...
RANKING COUNTRY POPULATION WORLD %
1 CHINA 1,339,724,852 19.16%
2 INDIA 1,210,193,422 17.31%
3 USA 312,962,000 4.48%
4 IND...
GRAND COAST LINE 1046 Km
The coastline of Pakistan
extends 1,046 km,
250 km falling in Sind
800 km in Balochistan.
Its Exc...
RANK FOR AGRICULTURE OUTPUT
1-China = $ 1,028.742 Bln
2-India = $ 751.173 Bln.
3-USA= $ 161.236 Bln
4-Indonesia= $ 157.572...
SCIENTISTS & ENGINEERS of PAKISTAN (OUR
PRIDE)
• 7th
largest pool of
scientists and engineers
in the
World.
LARGEST BIRD SANCTUARY IN THE WORLD
• One of the Largest Bird
Sanctuary in the world
Haleji Lake
EXPLOSIVES & SMALL ARMS AMMUNITION
PROPELLANTS AND EXPLOSIVES
• Artillery ammunition propellant
• Mortar and rocket ammuni...
9th
largest COMMERCIAL VEHICLE
MANUFACTURER in the World
CAR MANUFACTURE2010-11
1300-1600 CC (2000 cc Diesel)
Honda Civic-...
MOTOR CYCLE PRODUCTION PAKISTAN
Honda= 5,70,777
Yamaha= 1,14,845
Suzuki= 20,259
Sohrab= 3607
Sohrab Triwheel= 1560
Qing Ch...
INCOME FROM I.T.
• Pakistani reserves from
IT industry will reach $ 5
Billion in 2012
• Many American and
European compani...
GEM AND JEWELLERY
Pakistan is one of
the Largest Gem
and Jewellery
exporter with
exports of $ 0.75
Billion in 2004 and
wil...
MOBILE PHONES
users in Pakistan 111,126,434 in
October 2011, reaching a tele-
density of 65.2 percent,
Pakistani mobile ph...
2 crore net users in Pakistan
Pakistani internet users
have been on the rise with
accelerated pace, crossing
20 million be...
FOREIGN EXCHANGE RESERVES
Foreign exchange
reserves of Pakistan
are 17,790 million
US $ on September
2011 at 59th
position...
PAKISTANI SATELLITE
• Pakistan among 7 top
countries in the World
to launch their Satellites
• Pakistan’s PAK SAT is
one o...
PAKISTAN SPACE PROGRAM
• Pakistan is one of rare countries to
have a space program, and all the
satellites are build insid...
PHARMACEUTICAL
• Very strange facts to be
disclosed
• Medicines registered in
USA 5000
• Medicines registered in
India 500...
EDUCATION
PRIMARY SCHOOLS 1,56,592
MIDDLE SCHOOLS 3,20,611
HIGH SCHOOLS 23,964
DEGREE COLLEGES 1202
TTC’s & VTC’s 3125
UNI...
POPULATION OF PAKISTAN
18,73,43,000
Growth rate: 1.6%
Birth rate 31/1000
Death rate 8/1000
Life: 63.39 Yrs.
Male: 62.40 Yr...
RICHEST PAKISTANI’s
1-Mian Mansha $ 5 Bln.
(MCB)
2- Asif Zardari $ 1.8 bln.
(Politics)
3- Anwar Pervez $ 1.5 bln.
(Cash & ...
AN INTEGRATED DEFINITION
Entrepreneurship is a dynamic process of vision,
change, and creation. It requires an applicatio...
All definitions of entrepreneurship includes
• Newness, organizing, creating, wealth and risk
taking
• Entrepreneurs are f...
• Individuals have difficulty bringing their ideas
to the market & creating a new venture
• Yet entrepreneurial decisions ...
Deciding to become an entrepreneur by leaving
present activity
Changing from present
life style
 Work Environment
 Disru...
Types of Start-Ups
• Lifestyle firm-a small venture that supports
the owners and usually does not grow
• Foundation Compan...
ENTREPRENEURSHIP IN ECONOMIC
DEVELOPMENT
• More than per capita and income, it involves
change in business and society. Th...
• One theory of economic growth depicts
innovation as the key not only in developing
new products but also stimulating inv...
Economic Impact of
Entrepreneurial Firms
• Innovation
– Is the process of creating something new, which is central to
the ...
Entrepreneurial Firms’ Impact on
Society and Larger Firms
• Impact on Society
– The innovations of entrepreneurial firms h...
Role of Entrepreneurship in
Economic Development
• Product evolution process-process for
developing and commercializing an...
• Ordinary innovations-new products with little
technological change
• Technological innovations- new products with
signif...
The future of Entrepreneurship
• In spite of the difference conceptual
perspectives, there are common aspects: risk
taking...
Entrepreneurship training
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Entrepreneurship training

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Entrepreneurship training

  1. 1. Entrepreneurship BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14 BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM
  2. 2. Overview • What is an entrepreneur? • Characteristics of an entrepreneur • Planning to be an entrepreneur • Growth pressures, managing a family business, and corporate intrapreneurship BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  3. 3. What is an Entrepreneur?
  4. 4. Entrepreneur… … takes on the risk of starting their own enterprise or investing in other start-ups.
  5. 5. Definition of an Entrepreneur An entrepreneur is someone “who sets up a business or businesses, taking on financial risks in the hope of profit”. (Oxford Dictionaries definition)
  6. 6. Small Business Owners • Small business owners are people who own a major equity stake in a company with fewer than 500 employees. • In 1997 there were 22.56 million small business in the United States. • 47% of people are employed by a small business. BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  7. 7. • Self-Actualization • Esteem • Love • Safety • Physiological Maslow’s Hierarchy of Needs BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  8. 8. Maslow’s Hierarchy of NeedsMaslow’s Hierarchy of Needs PHYSIOLOGICAL OR SURVIVAL NEEDS MOST NEEDS HAVE TO DO WITHMOST NEEDS HAVE TO DO WITH SURVIVAL PHYSICALLY ANDSURVIVAL PHYSICALLY AND PSYCHOLOGICALLYPSYCHOLOGICALLY BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  9. 9. Maslow’s Hierarchy of NeedsMaslow’s Hierarchy of Needs PHYSIOLOGICAL OR SURVIVAL NEEDS SAFETY NEEDS ON THE WHOLE AN INDIVIDUALON THE WHOLE AN INDIVIDUAL CANNOT SATISFY ANY LEVELCANNOT SATISFY ANY LEVEL UNLESS NEEDS BELOW AREUNLESS NEEDS BELOW ARE SATISFIEDSATISFIED BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  10. 10. Maslow’s Hierarchy of NeedsMaslow’s Hierarchy of Needs PHYSIOLOGICAL OR SURVIVAL NEEDS SAFETY NEEDS LOVE, AFFECTION, AND BELONGINGNESS NEEDS BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  11. 11. Maslow’s Hierarchy of NeedsMaslow’s Hierarchy of Needs PHYSIOLOGICAL OR SURVIVAL NEEDS SAFETY NEEDS LOVE, AFFECTION, AND BELONGINGNESS NEEDS ESTEEM NEEDS BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  12. 12. Maslow’s Hierarchy of NeedsMaslow’s Hierarchy of Needs SELF-SELF- ACTUALIZATIONACTUALIZATION NEEDNEED FORFOR MASLOW EMPHASIZES NEEDMASLOW EMPHASIZES NEED FOR SELFFOR SELF ACTUALIZATION ISACTUALIZATION IS A HEALTHY INDIVIDUAL’SA HEALTHY INDIVIDUAL’S PRIMEPRIME MOTIVATIONMOTIVATION BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM07/08/14
  13. 13. Maslow’s Hierarchy of NeedsMaslow’s Hierarchy of Needs SELF-SELF- ACTUALIZATIONACTUALIZATION NEEDNEED FORFOR MASLOW EMPHASIZES NEED FORMASLOW EMPHASIZES NEED FOR SELFSELF ACTUALIZATION ISACTUALIZATION IS A HEALTHY INDIVIDUAL’S PRIMEA HEALTHY INDIVIDUAL’S PRIME MOTIVATIONMOTIVATION SELF-ACTUALIZATION MEANSSELF-ACTUALIZATION MEANS ACTUALIZINGACTUALIZING ONE’S POTENTIAL BECOMING ALL ONEONE’S POTENTIAL BECOMING ALL ONE ISISBENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  14. 14. Maslow’s Hierarchy of NeedsMaslow’s Hierarchy of Needs PHYSIOLOGICAL OR SURVIVAL NEEDS SAFETY NEEDS LOVE, AFFECTION, AND BELONGINGNESS NEEDS ESTEEM NEEDS SELF- ACTUALIZATION NEED BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  15. 15. Employee Satisfaction • In companies with less than 50 employees, 44% were satisfied. • In companies with 50-999 employees, 31% are satisfied. • Business with more than 1000, only 28% are satisfied. BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  16. 16. Employee Satisfaction Employee Satisfaction 28 31 44 0 10 20 30 40 50 less than 50 50-999 1000+ Number of Employees SatisfactionPercentage less than 50 50-999 1000+ BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  17. 17. Advantages of a Small Business • Greater Opportunity to get rich through stock options • Feel more important • Feel more secure • Comfort Level BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  18. 18. Disadvantages of a Small Business • Lower guaranteed pay • Fewer benefits • Expected to have many skills • Too much cohesion • Hard to move to a big company • Large fluctuations in income possible BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  19. 19. Why NOT to be an Entrepreneur • Uncertainty of income • Risk of losing entire invested capital • Lower quality of life until business gets established • High levels of stress • Complete responsibility BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  20. 20. Who are entrepreneurs? • Common traits – Original thinkers – Risk takers – Take responsibility for own actions – Feel competent and capable – Set high goals and enjoy working toward them • Common traits – Self employed parents – Firstborns – Between 30-50 years old – Well educated – 80% have college degree and 1/3 have a graduate level degree BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  21. 21. Why should you be interested? • Many young people have succeeded: – Michael Dell - Dell Computers – Frank Carney - Pizza Hut – Paul Orfalea - Kinko’s – Fred DeLuca - Subway. – Kristy Taylor - SkinCareRx.com • Opportunity to reap large profits BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  22. 22. Successful and Unsuccessful Entrepreneurs • Successful – Creative and Innovative – Position themselves in shifting or new markets – Create new products – Create new processes – Create new delivery • Unsuccessful – Poor Managers – Low work ethic – Inefficient – Failure to plan and prepare – Poor money managers BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  23. 23. Characteristics of Entrepreneurs Successful Entrepreneurs Key Personal Attributes Good Technical Skills Strong Managerial Competencies BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  24. 24. Key Personal Attributes • Entrepreneurs are Made, Not Born! – Many of these key attributes are developed early in life, with the family environment playing an important role – Entrepreneurs tend to have had self employed parents who tend to support and encourage independence, achievement, and responsibility – Firstborns tend to have more entrepreneurial attributes because they receive more attention, have to forge their own way, thus creating higher self-confidence BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  25. 25. Key Personal Attributes (cont.) • Entrepreneurial Careers – The idea that entrepreneurial success leads to more entrepreneurial activity may explain why many entrepreneurs start multiple companies over the course of their career – Corridor Principle- Using one business to start or acquire others and then repeating the process – Serial Entrepreneurs- A person who founds and operates multiple companies during one career BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  26. 26. Key Personal Attributes (cont.) • Need for Achievement – A person’s desire either for excellence or to succeed in competitive situations – High achievers take responsibility for attaining their goals, set moderately difficult goals, and want immediate feedback on their performance – Success is measured in terms of what those efforts have accomplished – McClelland’s research BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  27. 27. Key Personal Attributes (cont.) • Desire for Independence – Entrepreneurs often seek independence from others – As a result, they generally aren’t motivated to perform well in large, bureaucratic organizations – Entrepreneurs have internal drive, are confident in their own abilities, and possess a great deal of self-respect BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  28. 28. Key Personal Attributes (cont.) • Self-Confidence – Because of the high risks involved in running an entrepreneurial organization, having an “upbeat” and self- confident attitude is essential – A successful track record leads to improved self- confidence and self-esteem – Self-confidence enables that person to be optimistic in representing the firm to employees and customers alike BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  29. 29. Key Personal Attributes (cont.) • Self-Sacrifice – Essential – Nothing worth having is free – Success has a high price, and entrepreneurs have to be willing to sacrifice certain things BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  30. 30. . Ten Qualities of Prophet Mohammed as successful entrepreneur
  31. 31. Islam is a complete way of life •The revelation from Allah and the teaching of prophet Muhammad are not confined only to the belief and morals systems but also include the law that is suitable to be implemented to mankind.. •There is no separation between business and religion.
  32. 32. •By virtue of human Nature the Muslim entrepreneurs are khalifah , and have the responsibilities to develop prosperity and sees business as part of ibadah or good deed. • Islam encouraged its Ummah to venture into business prophet Muhammad said that 9 out of 10 sources of rizque can be found in business. You are the khalifah of Allah !!!
  33. 33. Why we need a role model ? • No community has been without its righteous guides and teachers to help its people towards the truth and to lead them from the depths of darkness to the light of Islam. • Aristotle believes that we learn to be moral (virtuous) by modeling the behavior of moral people.
  34. 34. Who is our role model? • He maintained the best characteristics in his roles as father, husband, friend, ruler, governor, teacher, statesman, protector of the weak, widows, and poor, a guide to the rich, a guardian of the orphans, and a servant of Allah. No one could ever equal the Prophet (sallallahu alaiyhi wa sallam) in the whole history of mankind and no one ever will, insha Allah.
  35. 35. Almighty Allah says: “There has certainly been for you in the Messenger of Allah an excellent pattern for anyone whose hope is in Allah and the Last Day and [who] remembers Allah often.” [Al-Ahzab 33:21]
  36. 36. My choice of Muhammad to lead the list of the world's most influential persons may surprise some readers and may be questioned by others, but he was the only man in history who was supremely successful on both the religious and secular levels.
  37. 37. Ten qualities of prophet Mohammed : 1- Honesty 2- Trustworthy 3- Flexibility 4- Conscious responsibility 5- Good manner with his companions 6- Consulting his companions 7-The Messenger of God (PBUH) would serve himself. 8-Recognizing His Companions’ Skills 9 -Correcting His Companions’ Mistakes 10- Gentleness is a key quality of Prophet Muhammad
  38. 38. 1- Honesty Honesty descended from the Heavens and settled in the roots of the hearts of men (faithful believers), and then the Quran was revealed and the people read the Quran, (and learnt it from it) and also learnt from the sayings and traditions. Both the Quran and the traditions strengthened their honesty. (Saheeh Al-Bukhari)
  39. 39. Honesty Undoubtedly, no one can be more truthful and honest than the Messengers of God. Muhammad proved by his living example that he was the most truthful and honest person of his age. Everyone was impressed by his honesty and truthfulness. He was a poor orphan, who had started trading with his uncle, but in a very short time, owing to his honest and fair dealings with all people, he became well-known and respected. He was known as Al-Sadiq (the Truthful) and Al-Amin (the Faithful)
  40. 40. 2-Trustworthy • The second attribute of Prophethood is amana, an Arabic word which means ‘trustworthiness’. • It is derived from the same root as the word mu’min, believer. Being a believer implies being ‘a trustworthy person’. • Trustworthiness is such an essential aspect of belief that Prophet Muhammad once declared: "One who is not trustworthy is not a believer" (Ahmad). He also described a believer as one whom the people trust with their blood and property. (At-Tirmidhi)
  41. 41. 3-Flexibility • Muhammad (s) was never strict in his business dealings with others. Sa’ib ibn al-Sa’ib relates: • During the age of ignorance, I was his [the Prophet’s] trade partner, and I found him the best of the partners in every respect. He neither argued with anyone nor was he obstinate and nor did he blame anything on his partner
  42. 42. In a hadith reported by Abdullah b. Omar Prophet Muhammad said: "We are all shepherds and we are all responsible for those who are under our hands (i.e. in our flocks). An administrator is a shepherd. The man is the shepherd of the family. A woman is the shepherd of her husband's home and children. We are all shepherds and we all are responsible for our duties as such." 4-Consciousness of Responsibility
  43. 43. "I am more rightful than other believers to be the guardian of the believers, so if a Muslim dies while in debt, I am responsible for the repayment of his debt, and whoever leaves wealth (after his death) it will belong to his heirs." (Al-Bukhari).
  44. 44. The Prophet was very close to his companions, and this is well-known when one reads the detailed reports about the Prophet’s biography. The Prophet (pbuh) is the example which we should emulate in all our matters. Jareer b. Abdullah said: ‘The Prophet (pbuh) did not prevent me from sitting with him since I accepted Islam. He always smiled when he looked at me. I once complained to him that I could not ride a horse and he hit me in my chest and supplicated God, saying: "O God! Steady him, and make him a person who guides others and a source of guidance." (Bukhari #5739) 5-Good manner with his companions
  45. 45. •The Prophet (pbuh) would consult his Companions, and take their opinions and points of view into consideration in issues and matters for which no textual proofs were revealed. Abu Hurairah said: •"I have not seen a person more keen for the sincere advice of his companions than the Messenger of God (pbuh)." (Tirmidthi #1714) 6-Consulting his companions
  46. 46. In line with the divine command: {… and consult with them in the matter…} (Al `Imran, 3: 159), Prophet Muhammad used to consult with his companions before taking any decision. The Prophet’s counseling with his companions were so common that Abu Hurairah is reported to have said: "I never saw anyone consult his companions more often than the Messenger of Allah." (Ahmad
  47. 47. 7-The Messenger of God (pbuh) would serve himself: A’ishah said: "I was asked how the Messenger of God (pbuh) behaved in his house. She said: ‘He was like any man; he washed his clothes, milked his sheep, and served himself." (Ahmed 24998) The Prophet’s excellent manners, not only made him serve himself; rather, he would serve others as well. A’ishah said: "I was asked how the Messenger of God (pbuh) behaved in his house. She said: ‘He would help out in the house with the daily chores, and when he heard the Adthan he would leave [everything and head] for the Mosque." (Bukhari 5048)
  48. 48. A good leader is one who sees the positive traits of his team members and invests in them. This is exactly what the Prophet (peace be upon him) did with his companions. One of the famous companions, Bilal ibn Rabah, had a very beautiful voice, and the Prophet being aware of this gift declared Bilal to be his official mu’adhin (one who calls Muslims to prayer). On the other hand, the Prophet (peace be upon him) refused to offer another distinguished companion, Abu Dharr al-Ghifari, an administrative responsibility because he lacked the required skills 8-Recognizing His Companions’ Skills
  49. 49. 9- Correcting His Companions’ Mistakes . What is more important is learning from our mistakes and not repeating them. Prophet Muhammad (peace be upon him) confirmed this meaning in his famous hadith which reads: "Every son of Adam makes mistakes, and the best of those who make mistakes are those who repent." (At Tirmidhi) Following the Quranic guidance, Prophet Muhammad (peace be upon him) applied the same methodology when correcting his companions’ mistakes because he felt that it is his duty to do so, being the chosen Prophet (peace be upon him) to guide people to God.
  50. 50. 10-Gentleness is a key quality of Prophet Muhammad Prophet Muhammad (peace be upon him) loved his companions and cared for them a lot. His care and concern covered even those who had died, and this should be the quality of entrepreneur he should care about his employee more than any thing.
  51. 51. It is now the Muslims’ turn to re-live the conduct of the Prophet (peace be upon him) and embrace it in their daily lives. If Muslims claim that they love their Prophet, they have to demonstrate this love by following the Prophet’s footsteps and his guidance in all walks of life; at home, at work, with their families, with relatives, with friends, with neighbors regardless of their race, faith, color or status. Conclusion
  52. 52. Technical Proficiency • Many entrepreneurs demonstrate strong technical skills, typically bringing some related experience to their business ventures • For example, successful car dealers usually have lots of technical knowledge about selling and servicing automobiles before opening their dealerships • Especially important in the computer industry • NOT ALWAYS NECESSARY BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  53. 53. Planning • Business Plan – A step-by-step outline of how an entrepreneur or the owner of an enterprise expects to turn ideas into reality. BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  54. 54. Questions To Keep In Mind • What are my motivations for owning a business? • Should I start or buy a business? • What and where is the market for what I want to sell? • How much will all this cost me? • Should my company be domestic or global? BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  55. 55. Motivations • Deciding what your motivations are will direct you toward what type of business fits you best. • Types: 1. Lifestyle Venture 2. Smaller Profit Venture 3. High Growth Venture BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  56. 56. 1. Lifestyle Venture • Small company that provides its owner independence, autonomy, and control. • Is often run out of household • Provides flexibility (hours, meeting places, attire) • Aligns your personal interests and hobbies with your desire to make a profit. BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  57. 57. 2. Smaller Profit Venture • Small company not concentrated on pushing the envelope and growing inordinately large. • Making millions of dollars not important. • Content with making a decent living. • Ex. Mom and retired people BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  58. 58. 3. High Growth Ventures • Goal is maximum profit and growth. • Concentrated on pushing envelope and growing as large as possible. • Focus on innovation BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  59. 59. Start or Buy? • Start – cheapest, but very difficult -requires most planning/research • Buy – expensive – may be out or reach -requires less planning and research • Franchise (middle ground) – a business run by an individual (the franchisee) to whom a franchiser grants the right to market a certain good or service. BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  60. 60. The Market??? • Planning & Research essential • Extensive market surveys (family, friends, neighbors…) • Magazines and Polls offer some information on the market - Businessweek, Harris Poll BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  61. 61. What about the cost? • Plan realistically, not optimistically • Don’t overestimate your profits • Don’t underestimate your costs • Sources of Funds • Banks • Venture Capitalists – filthy rich, high risk investors looking for a many-times-over yield • Angels – seem to have altruistic motives and less stringent demands than venture capitalists BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  62. 62. Domestic or Global? • Drawbacks to Global – more research and less accessible connections in startup phase, more travel time required, more considerations. • Advantages to Global – more human resources, more demand, more financing, easier to start global than go from domestic to global. BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  63. 63. Entrepreneurship: Growth Pressures Entrepreneurs often find that as their business grows, they feel more pressure to use formal methods to lead their organizations. Although this formalization process may compromise some entrepreneurs spirit, it often leads to more focus, organization, and greater financial returns. Basically, it’s a movement from a “seat-of-the-pants” operation to a more structured, legitimate and recognizable business. BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  64. 64. Entrepreneurship: Growth Pressures Entrepreneurial and Formal Organizations differ in six business dimensions:  Strategic orientation  Commitment to opportunity  Commitment to resources  Control of resources  Management structure  Compensation policy BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  65. 65. Entrepreneurship: Growth Pressures Business Dimension Entrepreneurial Organization Formal Organization Strategic orientation Seeks opportunity Controls resources Commitment to opportunity Revolutionary Short duration Evolutionary Long duration Commitment to resources (capital, people, and equipment) Lack of stable needs and resource bases Systematic planning systems Control of resources Lack of commitment to permanent ventures Power, status, financial rewards for maintaining status quo Management Structure Flat Many informal networks Clearly defined authority and responsibility Compensation policy Unlimited; based on team’s accomplishments Short-term driven; limited by investors BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  66. 66. Entrepreneurship: Growth Pressures Going Global…. From domestic to worldwide expansion, globalization can be extremely rewarding for entrepreneurs. THINK: Money and Business Exposure However, it is a huge undertaking. Adapting your business to operate in the global market can lead to a decrease in ownership, and a forced focus on raising money to keep your business alive. THINK: Selling out, Private to Public (Initial Public Offering, IPO) BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  67. 67. Entrepreneurship: Managing a Family Business  Over 50% of the U.S. Gross Domestic Product (GDP) is generated from family business.  12% of CEOs on the Inc. 500 list describe their company as a family business. So, why not dream up a plan and go into business with your family or friends? BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  68. 68. Entrepreneurship: Managing a Family Business Two reasons not to go into business with your family or friends.… Families fight Friends fight. Often, it involves money. So a business environment could potentially breed arguments, disagreements, and feuds. Fighting can occur during early developmental stages when hours are long and pay is low. Or, after success has been achieved. BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  69. 69. Entrepreneurship: Managing a Family Business Six steps to help lead you to a successful Family Business:  Clear job responsibilities  Clear hiring criteria  Clear plan for management transition  Agreement on whether and when to sell business  Commitment to resolving conflicts quickly  Outside advisors are used to mediate conflicts. Clarity is key…. but NO GUARANTEE. BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  70. 70. Entrepreneurship: Managing a Family Business Operational vs. Survival Issues…. Operational = Decisions about the economics of the business and how to balance that with rational and family obligation criteria. THINK: Day-to-day grind. Survival = Develop out of a lack of attention on the operational issues within the business. THINK: Festering problems; ultimately compromise livelihood. BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  71. 71. Entrepreneurship: Corporate INTRA-preneurs Intrapreneur = someone in an existing organization who turns new ideas into profitable realities. Not every employee has the ability to become a successful intrapreneur. It takes well-developed strategic action, teamwork and communication abilities. BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  72. 72. One More Time • What is an entrepreneur? • Characteristics of an entrepreneur • Planning to be an entrepreneur • Growth pressures, managing a family business, and corporate intrapreneurship BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM 07/08/14
  73. 73. Management Functions
  74. 74. Outlines • Management process and functions • Fundamental management skills • Managerial roles
  75. 75. The Management Process
  76. 76. Hierarchical-Level Differences Among Managers Planning Organizing LeadingControlling Controlling Controlling Leading Leading Organizing Organizing Planning Planning Upper- Level Managers Middle- Level Lower -Level Proportion of Time
  77. 77. Skills and the Manager Technical SkillsTechnical Skills InterpersonalInterpersonal SkillsSkills ConceptualConceptual SkillsSkills Diagnostic SkillsDiagnostic Skills CommunicationCommunication SkillsSkills Decision-MakingDecision-Making SkillsSkills Time-Time- ManagementManagement SkillsSkills
  78. 78. Fundamental Management Skills • Technical – Skills necessary to accomplish or understand the specific kind of work being done in an organization. • Interpersonal – The ability to communicate with, understand, and motivate both individuals and groups. • Conceptual – The manager’s ability to think in the abstract and to see the “big picture.” To perceive how all the parts fit together.
  79. 79. 3 Primary Managerial Skills • Technical skills FOCUS IS ON WHAT IS DONE – Specialized knowledge and proficiency – Analytical ability – Works with things, tools and techniques • Interpersonal skills FOCUS IS ON HOW SOMETHING IS DONE – Works with and through people – Effective as a group/team member – Motivates, communicates, and resolves conflicts • Conceptual skills FOCUS IS ON WHY SOMETHING IS DONE – Sees the “big picture” (how the parts fit together) – Understands the corporation as a whole – Future-oriented…thinks strategically
  80. 80. Management Skill Mixes at Different Organizational Levels
  81. 81. 1–81 Managerial Roles • Interpersonal Roles – Organizational roles that involve serving as a figurehead, leader, and liaison for an organization. • Informational Roles – Organizational roles that involve monitoring, disseminating, and serving as a organizational spokesperson. • Decisional Roles – Organizational roles that involve serving as an entrepreneur, disturbance handler, resource allocator, and negotiator
  82. 82. Key Managerial Roles KeyKey ManagemenManagemen t Rolest Roles KeyKey ManagemenManagemen t Rolest Roles InterpersonInterperson al Rolesal Roles InterpersonInterperson al Rolesal Roles DecisionalDecisional RolesRoles DecisionalDecisional RolesRoles InformationInformation al Rolesal Roles InformationInformation al Rolesal Roles 1.1. FigureheadFigurehead 2.2. LeaderLeader 3.3. LiaisonLiaison 1.1. FigureheadFigurehead 2.2. LeaderLeader 3.3. LiaisonLiaison 1.1. MonitorMonitor 2.2. DisseminatDisseminat oror 3.3. SpokesperSpokesper sonson 1.1. MonitorMonitor 2.2. DisseminatDisseminat oror 3.3. SpokesperSpokesper sonson 1.1. EntrepreneEntreprene urur (Innovator)(Innovator) 2.2. DisturbancDisturbanc e handlere handler 3.3. ResourceResource AllocatorAllocator 4.4. NegotiatorNegotiator 1.1. EntrepreneEntreprene urur (Innovator)(Innovator) 2.2. DisturbancDisturbanc e handlere handler 3.3. ResourceResource AllocatorAllocator 4.4. NegotiatorNegotiator
  83. 83. Intrapreneurship • There are people working in big org holding key positions. They are quite innovative & bring many changes in products & methods of production. They possess all qualities of an entrepreneur. Top managements in big organisations encourage people holding key positions to come out with new ideas so that they can bring some changes in products & services. They are also known as enter corporate entrepreneurs or intraprenuers. They serve as champions to others in the organisation.
  84. 84. Entrepreneur Intraprenuer 1. Entrepreneur is employer 1. Intraprener is employee 2. Independent in operation 2. Depends on the organization to implement his ideas. 3. Bears all the risk involved in enterprise. 3. Does not bear all the risk. 4. Exhibits higher need for achievement. 4. May not have high need achievement 5. Profit is the reward. 5. Attractive salary, promotion & incentives are the reward. 6. May not have formal qualification. 6. Should have some professional or technical qualification. 7. Do not have any boundary for operations. 7. He has to operate within the organisational policies.
  85. 85. THEORIES OF ENTREPRENEURSHIP • The Economist’s View • According to the economist entrepreneurship and economic growth will take place in those situation where particular economic conditions are most favorable. • According to J.B.Say rationally combining the forces of production into a new producing organization is the function of an entrepreneur.
  86. 86. • According to Cantillon an entrepreneur is an uncertainty bearer buying at a fixed price and selling at an uncertain price. • Entrepreneur connects different markets, he is capable of gap-filling, he is input completer and he creates or expands things.
  87. 87. • Small industry is a natural habitat of the entrepreneur where his role is like that of a striker who keeps the fire burning. • The entrepreneurship development in a particular country largely depends upon the economic policy, programme and economic environment of that country.
  88. 88. • The Sociologist’s View • It emerges under a specific social culture. • According to sociologist’s social sanctions, cultural values and role expectations are responsible for the emergence of entrepreneurship. • Society values are most important determinants of attitudes and role expectation.
  89. 89. e.g. Protestant ethic from west emerge as new class of industrialist . Samurai from Japan , Christians from Lebanon, Halai Memon Industrialist in Pakistan , Marwaris & Parsis in India
  90. 90. The Psychologist’s view • It is most likely to emerge when a society has sufficient supply of individuals possessing particular psychological characteristics. • It’s the high need for achievement which drives people towards entrepreneurial activities . • Individual with high achievement motive tend to take keen interest in situation of high risk ,desire for responsibility and desire for task performance
  91. 91. • Entrepreneur possesses three things i.e. an institutional capacity to see things in a way which later proves to be true, a kind of effort of will and mind to overcome fixed habits of thinking, lastly the capacity to overcome social opposition against doing something new. • Frank Young describes an entrepreneur as a change agent • T.V. Rao describes entrepreneurship as a creative and innovative response to environment.
  92. 92. • Managerial Views • This view gives more importance to the managerial aspects like perception of market opportunities and operational skills as qualities required to carry out an enterprise. • Entrepreneurship is the out come of complex and varying combination of socio economic, psychological and other factors.
  93. 93. CLASSIFICATION OF ENTREPRENUERS • INNOVATIVE ENTREPRENEUR: he is the one who introduces a new product or a new method of production or opens a new market or explore new source of supply of raw material or carry out a new type of organization. as per the Schumpeter innovative entrepreneur are real entrepreneur. • IMITATIVE/ ADOPTIVE ENTREPRENEUR: are those who imitate the successful entrepreneurs in techniques innovated by others.
  94. 94. • DRONE ENTREPRENEUR: Drone entrepreneur are those who never allow any change in their production & style of functioning. They never explore anything. They are also called Laggards. They are pushed out of market when product loses its marketability. • FABIAN ENTREPRENEUR: are always cautious. They neither introduce new changes nor adopt new methods invented by others. They are lazy. They follow old customs, old method of production, techniques.
  95. 95. WOMEN ENTREPRENEURS • They are a woman or group of women who initiate, organize & operate a business enterprise. • According to Marshal, any woman or group of woman who innovates, initiates, or adopts an economic activity may be called a woman entrepreneur. • According to Government of India, it is an enterprise owned & controlled by woman or a woman having a minimum financial interest of 51% of the capital in the enterprise.
  96. 96. Family Business • Major portion of capital is contributed by family. • Family members take major decisions & they occupy decision making post. • Number of generations involved in management & ownership. • Management is controlled by direct descendant of founders. • Intention to maintain family involvement.
  97. 97. FACTORS AFFECTING ENTREPRENEURIAL GROWTH 1. ECONOMIC FACTORS a) Lack of adequate overhead facilities: Profitable innovations require basic facilities like transportation, communication power supply etc. They reduce cost of production and increase profit.
  98. 98. b) Non availability of capital Inventions are capital oriented. In less developed countries most capital equipment have to be imported which involves foreign exchange which acts as a difficult problem. c) Great risk Risk is high in case of less developed countries as there is lack of reliable information, markets for good and services is small etc.
  99. 99. d) Non availability of labor and skills Though there is abundant labor supply there is generally scarcity of skills at all levels. 2. SOCIAL FACTORS A society that is rational in decision making would be favorable for decision making. Education, research and training is given less importance in less developed countries therefore there is very little vertical mobility of labor.
  100. 100. 3. CULTURAL FACTORS if the culture is economically or monetarily oriented entrepreneurship would be applauded and praised. In less developed countries people are not economically motivated. People have ample opportunities of attaining social distinction by non economic pursuits.
  101. 101. 4. PERSONALITY FACTORS In less developed countries the entrepreneur is looked upon with suspicion. Public opinion in the less developed nations sees in the entrepreneur only a profit maker and exploited.
  102. 102. IMPORTANCE OF ENTREPRENEURSHIP IN DEVELOPED ECONOMY • The nature of a developing economy is quite different from a developed economy. The developing economy can be an agricultural country moving towards the industrialization or it may be the one where in the industry may be in its infancy lacking advance technology.
  103. 103. • The modern era is an era of changes. The whole world is becoming a village due to the industrial revolution and fast developing communication technology. The globalization of industry and commerce is bringing a vast change in various aspects of life. • Economic development of a country is the outcome of purposeful human activity.
  104. 104. • Economic development is a highly dynamic process characterized by the pattern of demand shifts, new products are needed, appear for the production of goods within a country. • A developing country needs entrepreneurs who are competent to perceive new opportunities and are willing to incur the necessary risk in exploiting them.
  105. 105. • A developing economy is required to be brought out of the vicious circle of low income and poverty. • Entrepreneur can break this vicious circle. • Entrepreneurs and helping government can change a developing economy in developed economy .
  106. 106. MOTIVATION • Motivation is the act of stimulating someone or oneself to get a desired course of action, to push the right button to get the desired results.
  107. 107. MOTIVATING FACTORS • Education background • Occupational experience • Family background • Desire to work independently in manufacturing line • Assistance from financial institution • Availability of technology • Other factors
  108. 108. Free Powerpoint Templates Entrepreneurship: Islamic Entrepreneurship By Nur Suhaili Ramli Auckland, New Zealand
  109. 109. Theories and Concepts: Entrepreneurship is an integral parts of Islamic religion The Muslim entrepreneurs are ‘khalifah’ and have the responsibilities to develop prosperity and sees business as part of ‘ibadah’ or good deed. Motivation – success in Islam is not merely measured by the end result but also the way and means of achieving them.
  110. 110. Theories and Concepts: In Islam, the activity also known as Ibadah –or good deed Position of Entrepreneurship and business in Islam - encouraged to venture into business. Prophet Muhammad (PBUH) expounded that 9 out 10 sources of sustenance are through business.
  111. 111. Theories and Concepts: Islamic Economic System - Islamic Entrepreneurship should operate within the domain of Islamic Economic system and act as the vehicle towards global acceptance of Islamic Economic System. Guiding Principles of Islamic Entrepreneurship is by the al Quran and al-Hadith Entrepreneurial Ethics based on exemplary conducts of Prophet Muhammad (PBUH)
  112. 112. ISLAMIC ENTREPRENEURSHIP AS INTEGRAL PART OF THE RELIGION Islam is a complete way of life. There is no separation between business and religion. Islam has its own entrepreneurship culture and guiding principles based on the Al-Quran and Hadith to guide business operation
  113. 113. HUMAN NATURE (The fitrah of human being) By virtue of the human nature, the person must firstly be a Muslim, then an entrepreneur. He has the responsibility to perform ‘ibadah’ and be a ‘khalifah’. Muslim entrepreneur should search for God’s blessings above all other factors. A Muslim entrepreneur perform business not solely for profit, but above all, to fulfill the ‘fardhu kifayah’.
  114. 114. Motivation: • Most entrepreneurs have the desire to achieve successful business venture. • The successful path and means for achieving success for Muslim entrepreneurs are unique. • Success in Islam is not merely measured by the end result, but also the means and ways of achieving them.
  115. 115. SUCCESS FORMULA BY AL-QURTUBI: Halal – livelihood that are in accordance to what is being outlined by Allah SWT and syariah. Qanaah–be pleased and thankful with one’s earning Taufiq-Asking for the blessing of Allah in proportion to one’s expectation Sa’adah-Spiritual happiness Jannah–Worldly success should act as the bridge to the ultimate success in the life hereafter (paradise).
  116. 116. SEVEN STEPS TOWARDS A SUCCESS IN LIFE ACCORDING TO IMAM AL-GHAZALI Level of Knowledge Level of Taubat or repentence Level of Temptatio n Level of Motivation Level of Handicap Level of Obstacl es Level of Praise and Thankfulness
  117. 117. POSSESSION OF WEALTH IS ALLOWED BASED ON THE FOLLOWING PRINCIPLES:- • Allah S.W.T is the absolute owner of wealth • Allah created wealth in abundance and sufficient for all • Wealth is created for mankind • Wealth is entrusted to mankind
  118. 118. IBADAH In Islam, involving in business is part of ibadah through the fulfilment of fardhu kifayah.
  119. 119. POSITION OF BUSINESS AND ENTREPRENEUR: ISLAMIC ENTREPRENEURSHIP MODEL Islam Proposed (Business Venture) Allah Prepared (Facilities) Islam Outlined (Rules and Regulation) Allah Promised (Reward)
  120. 120. ISLAMIC ECONOMIC SYSTEM: Islamic Entrepreneurship should be in the framework of Islamic Economic System and should assist in establishing the Islamic Economic System
  121. 121. GUIDING PRINCIPLES OF ISLAMIC ENTREPRENEURSHIP: Guidelines for Islamic Entrepreneurship and business activities are wide and comprehensive based on Al-Quran and Al-Hadith.
  122. 122. MUSLIM ENTREPRENEURSHIP ETHICS: To prevent laziness To eradicate fear To search for legitimate ventures To avoid forbidden sources of income and property To show gratitude and thankfulness of whatever has been acquired To grow and develop capital and profit To diversify business ventures To avoid greediness
  123. 123. THE ETHICAL BEHAVIOR OF MUSLIM ENTREPRENEURSHIP To avoid malicious behavior To avoid squandering To avoid stinginess To pay alms (zakat) Trustworthy To pray consistently Tawakkal Patience Qana’ah
  124. 124. EXEMPLARY CONDUCTS OF GOOD MUSLIM ENTREPRENEURS DURING THE PROPHET MUHAMMAD S.A.W REIGN • Business is secondary when being called for other form of crusade • Avoid using influence for self interest • Afraid of accumulated wealth • Leadership qualities in all aspects • Practice moderate way of life
  125. 125. References: http://wiki.answers.com/Q/Characteristics _of_Islamic_Entrepreneurship www.perlis.uitm.edu.my/medec/images/... /ent300_module01.ppt
  126. 126. Evolution of Entrepreneurship & Top Business Families in Pakistan
  127. 127. • Today we found many enterprises groups in our country including some important as: • Saigal group • Dewan group • Habib group etc.  The domestic production of manufacturing good was established and flourished in Ayub Khan’s era of mid 50’s.  He gave extensive incentives to the local business man. Evolution of Entrepreneurship in Pakistan
  128. 128. • This led to the development of a class of industrialists, later known notoriously as the twenty-two families • “The Ayub Khan era was the 22 families’ heyday. They flourished mightily in that era, setting up one industry after another and expanding into sector after sector, until it seemed that they virtually controlled the economy. Banking, insurance, textiles, consumer goods - everything was grist for their mill.” (Omer) • Later on the nationalization by Bhutto become a tragic story for these wealthy families Conti….
  129. 129. • After coming in power from one of those rich family into politics (Sharif Family) they started returning back these assets to them. • Rejuvenation of business scenario in private sector • Business friendly era during1990’s • As a result new business families emerged and the existing families resuscitated themselves Conti….
  130. 130. • Military regime of Pervaiz Mushraf continued the process of liberalization by privatizing the state-owned enterprises • Current Govt. is also following the same policies of Privatization. Conti….
  131. 131. 1947-58 Era of emerging exchange rate and trade policies and import substitution industrialization. 1953-64 Virtually all imports into Pakistan were regulated by some form of quantitative controls 1950-55 Large scale sector experienced phenomenal growth rates of over 20% 1950’s Introduction and active functioning of “Import Licensing System” 1958-68 The “decade of development”, industry experienced a relatively higher growth rate Historical Overview
  132. 132. 1958-70 65% of total loans disbursed by PICIC, went to 37 monopoly houses, with the largest 13 of these accounting for about 70% of the loans 1972-77 Bhutto’s regime characterized by Nationalization. Caused some dent in elite power. Still however banks continued to lend on the basis of political and governmental influence. 1977-88 Zia years of encouragement of private sector, preference still given to large scale sector 1988- present Privatization and liberalization of state owned enterprises Into the private sector. (rich families) Continued……
  133. 133. • Short-listing Pakistan's most influential business magnates or Groups has never been an easy task • Among these gifted individuals, you will find politicians-turned-businessmen, businessmen- turned-politicians or even the businessmen- cum-politicians. • Thus we take the pride of announcing these names with focusing on Business men’s only Top Business Families in Pakistan
  134. 134. 1- Mian Muhammad Mansha Yaha • Worth: £1.25b ($2.5billion) • Mansha has around 40 companies on board • Nishat Textile • Nishat Power • MCB Bank • D. G Khan Cement • Adamjee Inssurance • Nishat Group was country's 15th richest family in 1970, 6th in 1990 and Number 1 in 1997
  135. 135. Conti…… • He give the bid for UBL • He also offer a bid PSO along with Patronas • There is no stopping Mansha and he is still on the move. • The Govt. of Pakistan has Awarded Sitara-e- Imtiaz (The Honor of Distinction) to Mansha
  136. 136. • Worth: £750m ($1.5billion) • The Bestway Group started in 1976 with its first Bestway cash and carry warehouse opened in London • Bestway Group ventured into Pakistan's huge the cement business in 1995 and set up cement manufacturing plant in Pakistan at a cost of $120 million. • They also acquired a 25.5% stake in United Bank Limited in 2002 • He is still on the move! 2- Anwar Pervaiz
  137. 137. • Habib is a prominent Muslim Khoja business family in Pakistan • A profile of Rafiq Habib in an Economic Review stated that the Habib group has owned over 90 companies • Habib group's most famous and successful subsidiary is its Banking and Finance division. • Indus Motors assembling Corolla cars and many dozens of units in sectors such as jute, paper sack, minerals, steel, tiles, synthetics sugar, glass, construction, concrete, farm autos, banking, oil, computers, music, paper, packages, leasing and capital management 3-Habib Family
  138. 138. • Habibs today are headed by Rafiq Habib and Rashid Habib in two distinct groups • What makes them extremely influential players of all times is the fact that for dozens of top businessmen today, Habib were a myth once. • Having many companies outside Pakistan Conti…..
  139. 139. • Saddaruddin Hashwani is Chairman Hashoo Group with a net worth of Worth: £550m ($1.1billion) • Hashwanis are involved in trading of cotton, grain and steel • Today, this group has excelled in export of rice, wheat, cotton and barley. It owns textile units, besides having invested billions in mines, minerals. hotels, insurance, batteries, tobacco, residential properties, construction 4-Hashwani Family
  140. 140. • Worth: £425m ($850) Industry • pioneer of the Saigol dynasty in 1890 was Amin Saigol who established a shoe shop that eventually transformed into Kohinoor Rubber Works • In 1948, Saigols established the Kohinoor Textile Mills with a cost of Rs 8 million • They bought the United Bank in 1959 and then witnessed five of their units getting nationalized • They lived in Saudi Arabia during the Bhutto regime • Their portfolio includes Kohinoor Textile Mills, (PEL), Kohinoor Power, Kohinoor Energy, Kohinoor Motors etc 5-Saigal Family
  141. 141. • Dewan Mushtaq Group is one of the Pakistan's largest industrial conglomerates in sectors like polyester acrylic fiber, manufacturing and automotives • Dewan Farooqui Motors assembles around 10,000 cars annually under technical license agreement with Hyundai and Kia Motors of Korea • The Dewan Salman Fiber is the pride of this empire as it ranks 11th in the world in total production capacity • They also have the franchise license for BMW in Pakistan and now Rolls Royce showrooms. • The group owns three textile units, a motorcycle manufacturing concern and the largest sugar unit in the country 6- Dewan Family
  142. 142. • Mr Yakoub is a prominent Pakistani expatriate businessman based in Dubai. • He is the president ARY group ($1.5Billion turnover) and World Memon Organization (WMO) • Pakistan's biggest media barons controlling around 7 channels • Besides this he has a huge property holdings in Karachi, Islamabad and Dubai amounting to over $200m • He is major in the gold market also having around 20 outlets in Asia. 7- Abdul Razzaq Yakoub (ARY)
  143. 143. • Not having the biggest Business like Men • They were having less opportunities • Mainly engaged in Clothing, Designing, Boutiques, Beauty Salons, Jewelry etc • Here we will discuss some one else who really did something daring Women Entreprenures
  144. 144. • Varan Tours, Sadar , Rawalpindi • She established a transport company initially with only one bus • Then No increased to 75 • She dispel the notion that woman entrepreneurs restrict themselves to certain traditional businesses • Big problem was inconsistency in the transport policies of successive governments • Along with the profit motive, she wanted to start a quality transport service for the working women Uzma Gul
  145. 145. Ayesha Zeenat (GINA) • Pappasalis, Islamabad • She did a Diploma in Hotel and Restaurant Management from the Conrad Hilton College, University of Houston • After doing many jobs, she realized that there is no future in seeking a good job. • She started her own first original Italian restaurant in Islamabad • It was as a big risk, as Islamabad was not an easy city for a food business • She won a legal case against her Business
  146. 146. Robina Jamil • Robina and her family underwent severe financial distress 10 years ago • She then started a business of assembling toys, plastic clips and artificial jewelry with the help of her father and brother. • The crucial step was to get her first order, which proved to be a really difficult task. • She hired two women and trained them to market her products • The business has graduated from its infancy stage • I have built a network now on the basis of the • trust that we have developed over the last ten years
  147. 147. Discussion
  148. 148. LEADERSHIP GRID
  149. 149. What is Leadership ? There are almost as many different definitions of leadership as there are persons who have attempted to define the concept We define managerial leadership as the process of directing and influencing the task related activities of group members.
  150. 150. Implications of Leadership. Leadership involves other people by their willingness to accept directions from the leader it helps in the leadership process It involves unequal distribution of powers between leaders and group members The ability to use different forms of power to influence followers behaviors in a number of ways The last aspect combines all three and says that leadership is about values.
  151. 151. Four Factors of Leadership • Leader :You must have an honest understanding of who you are, what you know, and what you can do. Also, note that it is the followers, not the leader or someone else who determines if the leader is successful. If they do not trust or lack confidence in their leader, then they will be uninspired. To be successful you have to convince your followers, not yourself or your superiors, that you are worthy of being followed. • Communication :You lead through two-way communication. Much of it is nonverbal. For instance, when you "set the example," that communicates to your people that you would not ask them to perform anything that you would not be willing to do. What and how you communicate either builds or harms the relationship between you and your employees.
  152. 152. • Followers :Different people require different styles of leadership. For example, a new hire requires more supervision than an experienced employee. A person who lacks motivation requires a different approach than one with a high degree of motivation. You must know your people! The fundamental starting point is having a good understanding of human nature, such as needs, emotions, and motivation. You must come to know your employees' be, know, and do attributes. • Situation :All situations are different. What you do in one situation will not always work in another. You must use your judgment to decide the best course of action and the leadership style needed for each situation. For example, you may need to confront an employee for inappropriate behavior, but if the confrontation is too late or too early, too harsh or too weak, then the results may prove ineffective.
  153. 153. What is Leadership Grid.? • Leadership grid explains how leaders help organize actions to achieve to achieve their objectives through the factors of concern for production or results (task behaviour) and concern for people (relationship behaviour). • The grid consists of two axes – Y-axis representing concern for production while X- axis representing concern for people on a scale 9 points. 1 represents minimum concern and 9 the maximum.
  154. 154. Elements of leadership grid Authority – Compliance Management or task management Leaders who fall in this category heavily emphasize results with minimum concern for people. They consider people merely as a means to achieve desired results. The leader is often characterized as controlling, overpowering, over driving and coercive. Country club management Leaders falling in this category are those who are concerned more welfare and personal needs of people and lack the focus on task accomplishment. The leader is often characterized democratic but also is seen as ineffective in driving the people toward achievement of goals.
  155. 155. Impoverished management (1,1) Leaders in this category are generally those who arrived here merely by means of their position, and are simply viewed as going through the motions of being a leader. They are characterized as indifferent, non- committal, un-involved and withdrawn. Middle of the road management (5,5) Leaders in this category seem to achieve a “balance” between people relationships and results, but are basically compromisers in nature. They compromise on conviction to make some progress and as a result miss out on push for results and also on drive for creating a true team culture. Such leader is characterized as avoiding conflicts.
  156. 156. • Team management Leaders in this category consider people relation, commitment and empowerment as a means of achieving goals. They are open to learning, view conflicts as opportunity for innovative thinking, clarify goals and set high expectation and provide learning opportunity for people in the course of completion of the task. Such leader is characterized as driving trust and learning in the teams.
  157. 157. Leadership Grid Model. • The managerial grid model (1957) is a behavioural leadership model developed by Robert Blake and Jane Mouton. This model originally identified five different leadership styles based on the concern for people and the concern for production. The optimal leadership style in this model is based on Theory Y.
  158. 158. Conclusion • The grid theory has continued to evolve and develop. Robert Blake updated it with in (Daft, 2008). The theory was updated with two additional leadership styles and with a new element, resilience. In 1999, the grid managerial seminar began using a new text, The Power to Change.
  159. 159. Leadership Theories  “Great Man” Theories  Trait Theories  Contingency Theories  Situational Theories  Behavioral Theories  Participative Theories  Management Theories  Relationship Theories
  160. 160. “Great Man” Theories Great Man theories assume that the capacity for leadership is inherent – that great leaders are born, not made. These theories often portray great leaders as heroic, mythic, and destined to rise to leadership when needed. The term “Great Man” was used because, at the time, leadership was thought of primarily as a male quality, especially in terms of military leadership.
  161. 161. Trait Theories Similar in some ways to “Great Man” theories, trait theory assumes that people inherit certain qualities and traits that make them better suited to leadership. Trait theories often identify particular personality or behavioral characteristics shared by leaders. But if particular traits are key features of leadership, how do we explain people who possess those qualities but are not leaders? This question is one of the difficulties in using trait theories to explain leadership.
  162. 162. Contingency Theories Contingency theories of leadership focus on particular variables related to the environment that might determine which particular style of leadership is best suited for the situation. According to this theory, no leadership style is best in all situations. Success depends upon a number of variables, including the leadership style, qualities of the followers, and aspects of the situation.
  163. 163. Situational Theories Situational theories propose that leaders choose the best course of action based upon situational variable. Different styles of leadership may be more appropriate for certain types of decision-making.
  164. 164. Behavioral Theories Behavioral theories of leadership are based upon the belief that great leaders are made, not born. Rooted in behaviorism, this leadership theory focuses on the actions of leaders, not on mental qualities or internal states. According to this theory, people can learn to become leaders through teaching and observation.
  165. 165. Participative Theories Participative leadership theories suggest that the ideal leadership style is one that takes the input of others into account. These leaders encourage participation and contributions from group members and help group members feel more relevant and committed to the decision- making process. In participative theories, however, the leader retains the right to allow the input of others.
  166. 166. Management Theories Management theories (also known as “Transactional theories”) focus on the role of supervision, organization, and group performance. These theories base leadership on a system of reward and punishment. Managerial theories are often used in business; when employees are successful, they are rewarded; when they fail, they are reprimanded or punished.
  167. 167. Relationship Theories Relationship theories (also known as “Transformational theories”) focus upon the connections formed between leaders and followers. These leaders motivate and inspire people by helping group members see the importance and higher good of the task. Transformational leaders are focused on the performance of group members, but also want each person to fulfill his or her potential. These leaders often have high ethical and moral standards.
  168. 168. So, What Is Leadership?  The process of leading.  Those entities that perform one or more acts of leading.  The ability to affect human behavior so as to accomplish a mission designated by the leader.  A process (not a position) whereby an individual works through a series of interactive stages.
  169. 169. Potential of Pakistan in variety of fields 07/08/14 BENAZIR BHUTTO SHAHEED YOUTH DEVELOPMENT PROGRAM
  170. 170. Exports$30.9 billion (2011 est.) Main export partners US 15.8%, UAE 7.9%, China 7.3%, UK 4.3%, Germany 4.2% (2010) Export goods textiles (garments, bed linen, cotton cloth, yarn), rice, leather goods, sports goods, chemicals, manufactures, carpets and rugs.
  171. 171. Imports $39.9 billion (2011 est.) Main import partners China 17.9%, Saudi Arabia 10.7%, UAE 10.6%, Kuwait 5.5%, US 4.9%, Malaysia 4.8% (2010) Import goods petroleum and petroleum products, machinery, plastics, transportation equipment, edible oils, paper and paperboard, iron and steel, tea .
  172. 172. Labour force 55.77 million (2010 est.) Pakistan is one of few countries in the World to have 60 % or more Young labour force. Labour force by occupation agriculture: 43%, industry: 20.3%, services: 36.6% Unemployment 6.2% (2011 ) Main industries textiles and apparel, food processing, pharmaceuticals, construction materials, paper products, fertilizer, shrimp LABOUR FORCE OF PAKISTAN
  173. 173. SALT RICH PAKISTAN Second Largest Salt mine in the World Khewra with 3,00,000 ton annual production
  174. 174. CANAL IRRIGATION Pakistan has the World’s Largest canal Irrigation system in the World with 58,500 Km length
  175. 175. Silk Route & Karakoram Highway Silk Route was trade link between the East and the West around 100 BC and lasted until the 15th Century. Karakoram Highway Eighth Wonder of the World and Highest Paved Road in the world 1300 km long and height 15,750 feet
  176. 176. Tarbella is the Second largest dam in The World with 12,20,00,000 Cu.M. capacity. The dam is 485 feet (148 m) high. The dam forms the Tarbela Reservoir, with a surface area of approximately 250-sq.km. Construction cost $ 1,497 Mln. Length 2743 meters (9000 feet) Maximum capacity4200 MW TARBELLA DAM ONE OF THE LARGEST IN THE WORLD
  177. 177. GOLD MINES IN PAKISTAN 5th Largest Gold deposit in the World is in Rekodek, Pakistan with estimation of $ 260 Billion. But Dr. Samar Mubarak mand says deposits are worth $ 1.2 Trillion
  178. 178. COPPER DEPOSITS • 5th Largest Copper deposits which can produce 15,810 tons annually from Rekodek only. • 40,000 tons soon production by Australian company Tethyan Copper Company (TCC) Australian BHP Billiton with three times more production than Rekodek with $ 75 Million exports of copper .
  179. 179. REKODEK DEPOSITS SUMMARY • The first phase of the project is designed to produce 15,810 tonnes copper, 2.8 tonnes silver, 1.5 tonnes gold, and 30,000 tonnes iron annually. • Ore bodies of more than 350 million tonnes deposits. • Pakistan's first metallurgical copper-gold project went into commercial to save Rs 2.5 billion annually. • Under this agreement, MCC would generate for Pakistan 500,000 dollars per month for over 10 years plus 50 percent of the total revenue from mineral sale. • Similarly, Balochistan would receive 0.7 million dollars as annual royalty.
  180. 180. BLACK GOLD ABUNDANCE One of the largest Coal deposits in the World at Thar around 10,000 Km and 184,575 metric tons or 850 trillion Cubic feet.
  181. 181. RICE EXPORT PAKISTAN 5th largest Rice exporter in the World with 4.5 million tons of Finest Quality rice. The country’s domestic consumption of milled rice is about 2.3 million tonnes. Pakistan had a bumper crop of 6.7 million tonnes of milled rice in 2010/11and exported about 4.5 million tonnes.
  182. 182. TOP WHEAT PRODUCER 8th Largest Wheat producer in the World with 23.5 million metric tons of wheat production Annually. It contributes 14.4 percent to the value added in agriculture and 3.0 percent to GDP. Target 25 + million MT.
  183. 183. COTTON PRODUCTION 4th largest cotton producer with 16 million bales production per annum.
  184. 184. ATOMIC NUCLEAR POWER •CHASNUPP 1-325 MW 13 june 2000 •CHASNUPP 2-325 MW 14 March 2011 •CHASNUPP 3-330 MW 2016 •CHASNUPP 4-330 MW 2017 •KANNUP 1-137 MW •18 October 1971 •KANNUP 2 - 600 MW •Work stoped •KANNUP 3 - 400 MW •Construction awaited
  185. 185. GWADAR THE FUTURE OF PAKISTAN Gwadar is the Largest Deep sea port in the world with 47 Km wide channel for mother vessels. It’s a Free port city, located neaest to bay of Hurmaz and will be the most modern city in Pakistan with all latest facilities.
  186. 186. GRAND THAR DESERT • Thar is one of the Largest Deserts in the World with 2,00,000 sq. Km area and Worlds 9th largest desert.
  187. 187. ENGLISH SPEAKING NATION • Pakistan is the 9th largest English speaking nation in the World
  188. 188. LARGEST GHEE PRODUCER Pakistan is the Largest Producer of Ghee in the World. The edible oil industry is comprised of about 100 mills producing vegetable ghee / cooking oil. The installed capacity of these units is around 1.8 million metric tons. 24 units are in the public sector under the management and/or ownership of the. Ghee Corporation of Pakistan and approximately 76 companies are in the private sector. The GCP with approximately 37 % of the market is the dominating force in the industry.
  189. 189. CHICKPEAS Pakistan is the Second Largest Producer of the Chickpeas with 8,42,000 Tonnes And 10 % of the Worlds production in pakistan only.
  190. 190. MOTORWAY OF PAKISTAN Motorway Pakistan is the safest and Peaceful motorway in All Asia region. M1= Peshawar to Islamabad M2= Islamabad to Lahore M3= Pindi Bhattian to Faisalabad M8= Gwadar to Ratto dero The most interesting fact is that it can be used by Pakistan Air Force to land or take off many Fighter Jets.
  191. 191. COTTON (60 % of total Export by cotton-textile) • 4th largest producer of Cotton-Textile with Cotton Production target of 16 million bales for 2012. • Pakistan’s economy relies heavily on its cotton and textile sectors. Altogether, the cotton-textile sectors account for 11 percent of GDP and 60 percent of export receipts.
  192. 192. APRICOT, Pakistan is No. 3 in the World • Pakistan Prod. 325,779 Tons • Pakistan No.3 & india No. 38 • Grown from 5000 years in Subcontinent • Cane or Juice 22 % • Dry Apricot 60 % • Freeze 5% • Fresh 13% • Grown in 63 Countries & 1,00,000 acres • 100 types of apricot, 32 types in Pakistan • $ 700 Million can be earned extra if cold storage available in Pakistan for Apricot
  193. 193. SUGARCANE Sugarcane production of the World 1,743,068,525 tons Pakistan is World no. 5 with 50,045,400 tons after brazil, india, china and Thailand. With a world harvest of over 1 billion tonnes of sugar cane stock per year, the global potential is over 100,000 GWh for production of electricity.
  194. 194. PAKISTAN4th largest producer of onion in the World. PRODUCTION: 1- China-20,817,295 tons 2- India-8,178,300 tons 3- USA-3,349,170 tons 4-Pakistan-2,015,200 tons Domestic Consumption 1,500,000 (1.5 mln.tons) sindh: 30% Balochistan 38% Punjab 22 % KPK 10%
  195. 195. 2nd largest MILK PRODUCTION PAKISTAN •Pakistan is 2nd largest Buffalo milk producer in the World with 2,03,72,000 tones (23.53% of the World) comparing to china 29,00,000 tones at No 3. •World Production 8,65,74,539 tones
  196. 196. PAKISTAN- 4th largest producer of Date palm in World 1- Egypt- 13,50,000 MT. 2- Iran – 10,80,000 MT 3- Saudia 10,52,000 MT 4- Pakistan 7,35,000 MT.
  197. 197. LARGEST MANGOES PRODUCER in the WORLD is PAKISTAN largest producer of Mangoes in the World 1- Pakistan 13.6 Million tons (39%) 2- China 4.2 Million tons 3- Thailand 2.5 Million tons 6- India 1.8 Million tons WORLD: 34.9 Million tons Pakistani Mango: Chaunsa, Dusehri, Langra, Desi, Anwar Ratoul, Sindhri, Fajri, Saroli, Bagan Pali, Alphonso, Muhammad Wole, Neelum
  198. 198. TANGERINE, ORANGE (Malta) MANDARIN ORANGE(Kinnow) 11th largest producer of tangerines and mandarin orange (kinnow) with 640,000 tones annually and Orange (Malta) 1.7 Million tons apart from Tangerine and Mandarin Orange.
  199. 199. RANKING COUNTRY POPULATION WORLD % 1 CHINA 1,339,724,852 19.16% 2 INDIA 1,210,193,422 17.31% 3 USA 312,962,000 4.48% 4 INDONESIA 237,641,326 3.4% 5 BRAZIL 192,376,496 2.75% 6 PAKISTAN 178,609,000 2.55% RANKING OF PAKISTAN IN THE WORLD BY POPULATION
  200. 200. GRAND COAST LINE 1046 Km The coastline of Pakistan extends 1,046 km, 250 km falling in Sind 800 km in Balochistan. Its Exclusive Economic Zone (EEZ) covers an area of 196,600 sq.km. The territorial waters cover an area of 24,000 km2. Well-known beaches in Pakistan include Somniani, Hingol River, Ormara, Pasni, and Gawadar in Balochistan, and Clifton and Hawks Bay in Sindh.
  201. 201. RANK FOR AGRICULTURE OUTPUT 1-China = $ 1,028.742 Bln 2-India = $ 751.173 Bln. 3-USA= $ 161.236 Bln 4-Indonesia= $ 157.572 Bln 5-Brazil = $ 147.700 Bln 6-Nigeria =$ 113.385 Bln 7-Pakistan = $ 101.348 Bln 8-Turkey = $ 92.209 Bln 9-Iran = $ 90.052 Bln 10-Russia = $ 88.918 Bln
  202. 202. SCIENTISTS & ENGINEERS of PAKISTAN (OUR PRIDE) • 7th largest pool of scientists and engineers in the World.
  203. 203. LARGEST BIRD SANCTUARY IN THE WORLD • One of the Largest Bird Sanctuary in the world Haleji Lake
  204. 204. EXPLOSIVES & SMALL ARMS AMMUNITION PROPELLANTS AND EXPLOSIVES • Artillery ammunition propellant • Mortar and rocket ammunition propellant • Small bust • ammunition propellant • Demolition explosives PYROTECHNICS AND DEMOLITION STORES • Flare (trip-wire) Mk 2/2 • Shooting (pencil type) • Demolition charge #16 IN.BeeHive MK • Demolition 1 OZ CE PRIMER Small arms ammunition • 7.62X51mm Ball (NATO) • 7.62x 51mm Tracer • 7.62x 51mm Link Belted • 7.62 x 51mm Blank (Star Crimped) • 7.62 x 39mm • 9 x19 mm Ball • 5.56 x 45mm M-855 • 5.56 x 45mm M-193 Smoke grenades
  205. 205. 9th largest COMMERCIAL VEHICLE MANUFACTURER in the World CAR MANUFACTURE2010-11 1300-1600 CC (2000 cc Diesel) Honda Civic- 6408 Honda City- 9294 Suzuki Liana- 614 Suzuki Swift- 4376 Toyota Corolla- 41,419 Suzuki Baleno- 0 Nissan Sunny- 0 Kia- 0 Total= 62,111
  206. 206. MOTOR CYCLE PRODUCTION PAKISTAN Honda= 5,70,777 Yamaha= 1,14,845 Suzuki= 20,259 Sohrab= 3607 Sohrab Triwheel= 1560 Qing Chi= 21,290 Hero= 41,972 Ravi= 8,38,26,882 Sazgar= 15,699 Habib= 21,659 Total= 8,38,550
  207. 207. INCOME FROM I.T. • Pakistani reserves from IT industry will reach $ 5 Billion in 2012 • Many American and European companies are planning to start their development centers in Pakistan as IT skilled persons are in abundance in Pakistan
  208. 208. GEM AND JEWELLERY Pakistan is one of the Largest Gem and Jewellery exporter with exports of $ 0.75 Billion in 2004 and will be $ 1.7 Billion by 2015.
  209. 209. MOBILE PHONES users in Pakistan 111,126,434 in October 2011, reaching a tele- density of 65.2 percent, Pakistani mobile phone users exchanged 175.4 billion text messages in 2010, up from 151 billion text messages in 2009 Mobile phones are growing by about 1.0 million a month, long distance rates are down by two third in five years and 80 % down for data transmission
  210. 210. 2 crore net users in Pakistan Pakistani internet users have been on the rise with accelerated pace, crossing 20 million benchmark with a greater percentage accessing the internet via mobile phones, said Freedom on the Net in it’s 2011 annual report.
  211. 211. FOREIGN EXCHANGE RESERVES Foreign exchange reserves of Pakistan are 17,790 million US $ on September 2011 at 59th position in the world
  212. 212. PAKISTANI SATELLITE • Pakistan among 7 top countries in the World to launch their Satellites • Pakistan’s PAK SAT is one of the largest Domestic satellite systems.
  213. 213. PAKISTAN SPACE PROGRAM • Pakistan is one of rare countries to have a space program, and all the satellites are build inside Pakistan by Space and Upper Atmosphere Research Commission, best known as SUPARCO is an executive agency of the Govt. of Pakistan, responsible for nation's public and civil space programme and aeronautics and ae rospace research. • Pakistan Remote Sensing Satellite (PRSS), commercially known (RSSS) is an dual purpose Earth Observational and optical satellite which is schedule to launch by the end year of 2012 for the replacement of Badar 2 satellite.
  214. 214. PHARMACEUTICAL • Very strange facts to be disclosed • Medicines registered in USA 5000 • Medicines registered in India 5000 • Medicines registered in Pakistan 55,000 • Medicines registered in Pakistan from 2008-2012 are 27,000 in just 4 years • There is no drug control authority in Pakistan • Pakistan only issues drug licence but donot have any renewal authority • WORLD RECORD BY PAKISTAN…….4000 medicines registered in just one day…………….wow
  215. 215. EDUCATION PRIMARY SCHOOLS 1,56,592 MIDDLE SCHOOLS 3,20,611 HIGH SCHOOLS 23,964 DEGREE COLLEGES 1202 TTC’s & VTC’s 3125 UNIVERSATIES 132 ARTS & SCIENCE COLLEGES 3213 Population 10 Yrs/above 60 % Male Literacy = 69 % Female = 45 %
  216. 216. POPULATION OF PAKISTAN 18,73,43,000 Growth rate: 1.6% Birth rate 31/1000 Death rate 8/1000 Life: 63.39 Yrs. Male: 62.40 Yrs. Female: 64.44 Yrs. Fertility: 3.58 Children/woman Age Structure: 0-14 Yrs: 36.7 % Male = 3,30,37,943 Female = 3,10,92,572 15-64 Yrs. 59.1 % Male =5,36,58,173 Female = 4,95,00,786 65 Yrs. & above 4.2 % Male =34,95,350 Female = 37,93,734
  217. 217. RICHEST PAKISTANI’s 1-Mian Mansha $ 5 Bln. (MCB) 2- Asif Zardari $ 1.8 bln. (Politics) 3- Anwar Pervez $ 1.5 bln. (Cash & Carry) 4- Nawaz sharif $ 1.4 bln. (Ittefaq Foundry) 5- S. Hashwani $ 1.1bln. (PC & marriott) 6- Nasir Schon $ 1.0 bln (Schon Group) 7- A.R.Yaqoob $ 1.0 Billion (ARY) 8- Rafiq Habib $ 900 Mln (HBL) 9- Tariq Saigol $ 850 mln (sehgal Group) 10- Dewan Mushtaq $ 800 Mln (Dewan Group) 11- Sultan Lakhani $ 800 Mln (Lakson Group) 12- Malik Riaz $ 800 Mln (Bahria Town) 13- Seth Abid $ 780 Mln (Greenfort) 14- Mian Latif $ 700 Mln (Chen one) 15- Abdul Ghafoor $ 660 Mln. (Sitara group)
  218. 218. AN INTEGRATED DEFINITION Entrepreneurship is a dynamic process of vision, change, and creation. It requires an application of energy and passion towards the creation and implementation of new ideas and creative solutions.
  219. 219. All definitions of entrepreneurship includes • Newness, organizing, creating, wealth and risk taking • Entrepreneurs are found in all professions
  220. 220. • Individuals have difficulty bringing their ideas to the market & creating a new venture • Yet entrepreneurial decisions have resulted in several new businesses through out the world • Despite recession- inflation- high interests rate, lack of infrastructure-economic uncertainty & high probability of failure
  221. 221. Deciding to become an entrepreneur by leaving present activity Changing from present life style  Work Environment  Disruption
  222. 222. Types of Start-Ups • Lifestyle firm-a small venture that supports the owners and usually does not grow • Foundation Company-is created from research and development that usually does not go public. • High-potential venture-has high growth potential and receives the greatest investment interest and publicity. • Gazelles-very high growth ventures.
  223. 223. ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT • More than per capita and income, it involves change in business and society. This change is accompanied by growth and increased output, which allows more wealth to be divided among the various participants • What facilitates needed change and development?
  224. 224. • One theory of economic growth depicts innovation as the key not only in developing new products but also stimulating investment interest in the new ventures being created. The new capital created expands the capacity for growth • It is the process through which innovation develops and commercializes through entrepreneurial activity which in turn stimulates economic growth
  225. 225. Economic Impact of Entrepreneurial Firms • Innovation – Is the process of creating something new, which is central to the entrepreneurial process. – Small firms are twice as innovative per employee as large firms. • Job Creation – In the past two decades, economic activity has moved in the direction of smaller entrepreneurial firms, which may be due to their unique ability to innovate and focus on specialized tasks. 1-247
  226. 226. Entrepreneurial Firms’ Impact on Society and Larger Firms • Impact on Society – The innovations of entrepreneurial firms have a dramatic impact on society. – Think of all the new products and services that make our lives easier, enhance our productivity at work, improve our health, and entertain us in new ways. • Impact on Larger Firms – Many entrepreneurial firms have built their entire business models around producing products and services that help larger firms become more efficient and effective. 1-248
  227. 227. Role of Entrepreneurship in Economic Development • Product evolution process-process for developing and commercializing an innovation • Iterative Synthesis-the intersection of knowledge and social need that starts the product development process
  228. 228. • Ordinary innovations-new products with little technological change • Technological innovations- new products with significant technological innovation • Breakthrough innovation- extremely unique innovations that sets the basis for further innovation.
  229. 229. The future of Entrepreneurship • In spite of the difference conceptual perspectives, there are common aspects: risk taking, creativity, independence & rewards • The future– we are living in the age of entrepreneurship!

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