Small and medium enterprise SME Presentation.pptx

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Md. Salauddin Khan
(16-07131)
Md. Rayhan Ali Rejvi
(19-09788)
Md. Foyaz Ahmed
(19-09793)
Partha Sarathi Howlader
(19-09816)
Monia Tamjid Fagun
(19-09850)
Najnin Sultana Niha
(20-10861)
Umme Habiba Polin
(20-10869)
Miraz Ahmed
(20-10872)
Fatema Akter Nisa
(20-10876)
Snigdha Sur
(20-10894)
Shahed Alam Shawon
(20-10912)
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Group 4

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An Overview Of…..
1. The Foundation of Entrepreneurship
2. Inside The Entrepreneurial Mind From Ideas
To Reality
3. Designing A Competitive Business Model
And Building A Solid Strategic Plan
4. Conducting a feasibility analysis and crafting
a winning business plan
5. Building a Powerful Guerrilla Marketing Plan
6. E-commerce and the Entrepreneur

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Prepared and Presented By
Najnin Sultana Niha
(20-10861)

The Foundation of
Entrepreneurship
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Objective 1
Define the role of the entrepreneur in
business around the world.
“Small is beautiful.”
 Factor-Driven Economy
 Efficiency –Driven Economy
 Innovation-Driven Economy

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Objective 2
Describe the entrepreneurial profile
Entrepreneur and Entrepreneurship
Characteristics of an Entrepreneur
 Desire for responsibility
 Preference for moderate levels of risk
 Self-reliance
 Confidence in their ability to succeed
 Determination
 Desire for immediate feedback
 High level of energy

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Objective 3
Describe the benefits and drawbacks of entrepreneurship.
Benefits
The opportunity to:
 Create your own destiny.
 Make a difference.
 Reach your full potential.
 Reap impressive profits.
Drawbacks
 Uncertainty of income
 Long hours and hard work
 High levels of stress
 Complete responsibility

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Objective 4
Explain the forces that are driving the
growth of entrepreneurship.
Several factors are driving the boom in
entrepreneurship, including
 The portrayal of entrepreneurs as heroes
 Better entrepreneurial education
 Economic and demographic factors
 A shift to a service economy
 Technology advancements
 Independent lifestyle

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Md. Salauddin Khan
(16-07131)

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Objective 5
Explain the cultural diversity of entrepreneurship
Several groups are leading the nation’s
drive toward entrepreneurship:
 Young entrepreneurs
 Women entrepreneurs
 Minority-owned enterprises
 Immigrant entrepreneurs
 Part-time entrepreneurs
 Home-based businesses
 Family businesses
 Copreneurs
 Corporate castoffs
 Corporate dropouts
 Retiring baby boomers

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Objective 6
Describe the important role that small
businesses play in our nation’s economy
The small business sector’s contributions are many:
 They make up 99.7 percent of all businesses
 Employ 49.2 percent of the private sector workforce
 Have created nearly two-thirds of the net new jobs in the economy
 Produce 46 percent of the country’s private GDP, and
 Account for 47 percent of all business sales

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Objective 7
Put failure into the proper perspective
 Entrepreneurs recognize that failure is a
natural part of the creative process.
 Successful entrepreneurs have the attitude
that failures are simply stepping-stones along
the path to success, and they refuse to be
paralyzed by a fear of failure.
 Successful entrepreneurs learn to fail
intelligently.

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Objective 8
Explain how an entrepreneur can avoid
becoming another failure statistic.
Entrepreneurs can employ several general tactics to
avoid these pitfalls:
 Know your business in depth
 Build a viable business model – and test it
 Develop a solid business plan
 Understand financial statements
 Manage financial resources
 Learn to manage people effectively
 Set your business apart from the competition
 Maintain a positive attitude

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Umme Habiba Polin
(20-10869)

Inside The
Entrepreneurial Mind
From Ideas To Reality
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Objective 1
Explain the differences among creativity,
innovation, and entrepreneurship.
Creativity is the ability to develop new ideas and to
discover new ways of looking at problems and
opportunities.
Innovation is the ability to apply creative solutions
to those problems and opportunities to enhance or
to enrich people’s lives.
Entrepreneurship is the result of a disciplined,
systematic process of applying creativity and
innovation to needs and opportunities in the
marketplace.

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Objective 2
Describe why creativity and innovation are
such an integral part of entrepreneurship.
Success—even survival—in this fiercely competitive,
global environment requires entrepreneurs to
tap their creativity (and that of their employees)
constantly

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Objective 3
Understand how the two hemispheres of the human
brain function and what role they play in creativity.
The left hemisphere of the brain
controls language, logic, and
symbols, processing information in
a step-by-step fashion
The right hemisphere
handles emotional, intuitive,
and spatial functions,
processing information
intuitively. The right side of
the brain is the source of
creativity and innovation.

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Objective 4
Explain the 10 “mental locks” that limit individual creativity
The number of potential barriers to creativity is
limitless, but entrepreneurs commonly face 10
“mental locks” on creativity:
1. Searching for the one “right” answer
2. Focusing on “being logical”
3. Blindly following the rules
4. Constantly being practical
5. Viewing play as frivolous
6. Becoming overly specialized
7. Avoiding ambiguity
8. Fearing looking foolish
9. Fearing mistakes and failure, and
10. Believing that “I’m not creative.”

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Objective 5
Understand how entrepreneurs can enhance the creativity
of their employees as well as their own creativity
Enhancing Organizational Creativity
 Expecting creativity
 Expecting and tolerating failure
 Encouraging curiosity
 Viewing problems as challenges
 Providing creativity training
 Providing support
 Rewarding creativity, and
 Modelling creativity.
Enhancing Individual Creativity
 Allowing themselves to be creative
 Giving their minds fresh input every
day
 Keeping a journal handy to record
their thoughts and ideas
 Reading books on stimulating
creativity or taking a class on
creativity, and
 Taking some time off to relax.

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Monia Tamjid Fagun
(19-09850)

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Objective 6
Describe the steps in the creative process.
The creative process consists of seven steps:
1. Preparation
2. Investigation
3. Transformation
4. Incubation
5. Illumination
6. Verification
7. Implementation

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Objective 7
Discuss techniques for improving
the creative process
Five techniques are especially useful for
improving the creative process:
1. Brainstorming
2. Mind mapping
3. Force-field analysis
4. TRIZ
5. Rapid prototyping

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Objective 8
Describe the protection of intellectual
property through patents, trademarks,
and copyrights
 Patent
 Trademark
 Copyright

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Shahed Alam Shawon
(20-10912)

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Designing A Competitive
Business Model And Building
A Solid Strategic Plan

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Objective 1
Understand the importance of strategic
management to a small business.
Building a Strategic Plan
Companies without clear strategies may
achieve some success in the short run,
but as soon as a competitive threat
arises, they often fail.

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Intellectual capital
One source of a company’s competitive
advantage that consists of human,
structural, or customer capital.
 Human Capital
 Structural Capital
 Customer Capital

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Objective 2
Explain why and how a small business must
create a competitive advantage in the market
Competitive advantage
The value proposition that sets a small business apart from its
competitors and gives it a unique position in the market that
is superior to its competition.
Five aspects of a small company
1. Product they sell
2. Service they provide
3. Pricing they offer
4. Way they sell
5. Values to which they are committed

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Core Competencies
A unique set of capabilities that a company
develops in key areas, such as superior quality,
customer service, innovation, team building,
flexibility, and responsiveness, that allow it to vault
past competitors

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Objective 3
Develop a strategic plan for
a business using the nine
steps in the strategic
management process.
Step 1. Develop a
clear vision and
translate it into a
meaningful mission
statement

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Step 2. Assess the Company’s Strength and Weaknesses
Strength
 Loyal Customer
 Positive public image
 Superior product
 Product quality
 Special skill and knowledge
 Experienced Sales force
Weakness
 Lack of capital
 Lack of technology
 Lack of skilled worker
 Inferior location

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Step 3: Scan the environment for significant
opportunities and threats facing the business
Opportunities
 New Technology adaption
 New Product
 New Market
 New Processes
Threats
 New Competitor
 Rising Interest Rate
 Recession
 Govt. law on taxation

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Miraz Ahmed
(20-10872)

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Step 4: Identify the key factors
for success in the business
Key Success Factors
The factors that determine a
company’s ability to compete
successfully in an industry.
 Experience in the industry
 Sufficient start-up capital
 Consistency in quality and service
over time

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Step 5: Analyse the Competition
Competitor Analysis
 Direct Competitors
 Significant Competitors
 Indirect Competitors

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Step 6: Create Company Goals and Objectives
Goals
The broad, long-range attributes that a
business seeks to accomplish are its goals.
Objectives
They are more specific targets of
performance

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Step 7: Formulate Strategic Options and Select the
Appropriate Strategies
Strategy
 Cost Leadership
 Differentiation
 Focus

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Step 8: Translate Strategic Plans into Action Plans
No strategic plan is complete until it is put
into action; planning a company’s strategy
and implementing it go hand in hand.
 Purpose
 Scope
 Contribution
 Resource Requirements
 timing

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Step 9: Establish Accurate Controls
Actual performance rarely, if ever,
matches plans exactly. To judge the
effectiveness of their strategies,
many companies are developing
balanced scorecards.

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Md. Foyaz Ahmed
(19-09793)

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Conducting a feasibility
analysis and crafting a
winning business plan

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Objective 1
Explain the elements of a feasibility analysis
A feasibility analysis is the process of determining
whether an entrepreneur’s idea is a viable foundation for
creating a successful business.
 Not the same as a business plan.
 Serves as a filter, screening out ideas that lack the
potential for building a successful business before an
entrepreneur commits the necessary resources to
building a business plan.
 An investigative tool.

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A feasibility analysis consists of four interrelated
components:
 An industry and market feasibility analysis
 A product or service feasibility analysis
 A financial feasibility analysis
 An entrepreneur feasibility analysis

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Industry and Market Feasibility Analysis
Two areas of focus:
1. Determining how attractive an industry is
overall as a “home” for a new business.
2. Identifying possible niches a small
business can occupy profitably.

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Five Forces Model
Five forces interact with one another to determine
the setting in which companies compete and,
hence, the attractiveness of the industry:
 Rivalry among companies in the industry
 Bargaining power of suppliers
 Bargaining power of buyers
 Threat of new entrants
 Threat of substitute products or services

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Product or Service Feasibility Analysis
Determines the degree to which a product or
service idea appeals to potential customers and
identifies the resources necessary to produce it.
This portion of the feasibility analysis
addresses two questions:
1. Are customers willing to purchase our good
or service?
2. Can we provide the product or service to
customers at a profit?

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Primary research involves collecting data firsthand
and analysing it.
Secondary research involves gathering data that
has already been compiled and is available.
In both types of research, gathering both quantitative
and qualitative information is important to drawing
accurate conclusions about a product’s or service’s
market potential

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Financial Feasibility Analysis
 Capital requirements – must have an estimate
of how much start-up capital is required to
launch the business.
 Estimated earnings – forecasted income
statements.
 Return on investment – combining the
previous two estimates to determine how
much investors can expect their investments
to return

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Entrepreneur Feasibility Analysis
 Many new businesses require that an entrepreneur
possess a certain set of knowledge, experiences,
and skills to have a chance of being successful.
 Entrepreneurial readiness also involves issues such
as temperament and work ethic.

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Partha Sarathi Howlader
(19-09816)

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Objective 2
Explain the benefits of an effective business plan
Business Plan
 It describes which direction the company is taking, what
its goals are, where it wants to be, and how it intends to
get there.
 There is no substitute for a well-prepared business plan,
and there are no shortcuts to creating one.
 The plan serves as an entrepreneur’s road map on the
journey toward building a successful business

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A business plan, which builds off of information
from the feasibility analysis and business model,
serves two essential functions.
Firstly, it guides the company’s operations by
charting its future course and devising a strategy
for following it.
The second function of the business plan is to
attract lenders and investors.

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An effective business plan
should pass these three tests:
 Reality test
 Competitive test
 Value test

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Objective 3
Describe the elements of a solid business plan
Although a business plan should be unique and
tailor-made to suit the particular needs of a small
company, it should cover these basic elements:
 Title Page and Table of Contents
 Executive Summary
 Mission Statement
 Company History
 Business and Industry Profile

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 Business Strategy
 Description of Products/Services
 Marketing Strategy
 Competitor Analysis
 Description of Management Team
 Plan of Operation
 Forecasted Financial Statement
 Loan or Investment Proposal

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Fatema Akter Nisa
(20-10876)

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Building a Powerful
Guerrilla Marketing Plan

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Objective 1
Describe the principles of building a
bootstrap marketing plan, and explain the
benefits of preparing one.
Building a Guerrilla Marketing Plan
Marketing is the process of creating and delivering desired
goods and services to customers and involves all of the activities
associated with winning and retaining loyal customers.
Guerrilla marketing strategies is unconventional, low cost,
creative marketing strategies designed to give small companies
an edge over their larger, richer, more powerful rivals.

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A bootstrap marketing plan should
accomplish three objectives:
1. It should pinpoint the specific target markets the
small company will serve.
2. It should determine customer needs and wants
through market research.
3. It should analyse the firm’s competitive
advantages and build a bootstrap marketing
strategy around them to communicate its value
proposition to the target market.

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Objective 2
Explain how small businesses can
pinpoint their target markets.
One of the first steps in building a bootstrap
marketing plan is to identify a small company’s
target market.
Target market is the specific group of customers
at whom the company aims its goods or services.

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Sound market research helps the
owner pinpoint his or her target
market. The most successful
businesses have well-defined
portraits of the customers they are
seeking to attract.

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Objective 3
Discuss the role of market research in
building a bootstrap marketing plan and
outline the market research process.
Determining Customer Needs and Wants
through Market Research
Market research is the vehicle for gathering the
information that serves as the foundation of the
marketing plan. Good research does not have to
be complex and expensive to be useful.

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The steps in conducting market research include
the following:
Step -1: Define the objectives: “What do you
want to know?”
Step-2: Collect the Data from either primary or
secondary sources.
Step-3: Analyse and interpret the data
Step-4: Draw conclusions and act

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Snigdha Sur
(20-10894)

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Objective 4
Describe how a small business can build a
competitive edge in the marketplace using
bootstrap marketing strategies
When plotting a marketing strategy, owners must strive
to achieve a competitive advantage—some way to
make their companies different from and better than
the competition

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Successful small businesses rely on 14 sources to
develop a competitive edge:
1. Find a niche and fill it.
2. Use the power of publicity.
3. Don’t just sell—entertain.
4. Strive to be unique

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5. Build a community with customers.
6. Connect with the customer on an emotional level.
7. Create an identity for your business through branding
8. Embrace social marketing.
9. Be dedicated to service and customer satisfaction

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10. Retain existing customers.
11. Be devoted to quality.
12. Pay attention to convenience.
13. Concentrate on innovation.
14. Emphasize speed.

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Md. Rayhan Ali Rejvi
(19-09788)

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E-commerce and
the Entrepreneur

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Does e-commerce differs from e-business?
E-commerce
E-commerce involves digitally enabled
commercial transactions (the exchange of
value or money, which is only possible
through buying and selling) between and
among organizations and individuals.
E-business
For the most part, e-business does
not involve commercial transactions
across organizational boundaries
where value is exchanged.

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Objective 1
Understand the factors an entrepreneur should
consider before launching into e-commerce.
 Before launching an e-commerce
effort, entrepreneurs should consider
the some important strategic issues.
 Some factors are essential to
achieving e-commerce success.

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Objective 2
Explain the 10 myths of e-commerce and
how to avoid falling victim to them.
The main purpose of being
aware of these myths is to make
sure that you do not fall victim
to one of these e-commerce
myths.

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Objective 3
Explain the basic strategies entrepreneurs should follow
to achieve success in their e-commerce efforts.
 Attract visitors by giving away “freebies.”
 Make creative use of e-mail but avoid
becoming a “spammer.”
 Make sure that your Web site says
“credibility.”

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Objective 4
Learn the techniques of designing a killer Web site.
 Understand your target customer.
 Give customers what they want.
 Make your Web site easy to navigate

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Objective 5
Explain how companies track
the results from their Web sites.
Web analytics - Tools that measure a
Web site’s ability to attract customers,
generate sales, and keep customers coming
back, help entrepreneurs to know what
works—and what doesn’t—on their sites.
 Adobe Analytics
 Google Analytics
 Open Web Analytics

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Objective 6
Describe how e-businesses ensure the privacy and security
of the information they collect and store from the Web.
Ensuring Web Privacy
 Take an inventory of the
customer data collected.
 Develop a company privacy
policy for the information
collected.
 Post the company’s privacy
policy prominently on the Web
site and follow it.
Ensuring Web Security
 Virus detection software
 Intrusion detection
software
 Firewalls
 Secure Sockets Layer
(SSL) technology

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References
Essentials of Entrepreneurship and Small
Business Management
Norman M. Scarborough
Jeffrey R. Cornwall

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