Introduction to Business (NHSAI ENSIA 2024-2025) PDF

 ‫اﻟﻣدرﺳﺔ اﻟوطﻧ ّﯾﺔ اﻟﻌﻠﯾﺎ ﻟﻠذﻛﺎء اﻹﺻطﻧﺎﻋﻲ‬ (National High School of Artificial Intelligence) Ecole Nationale Supérieure de I’Intelligence Artificielle Academic Year / Semester 2024 - 2025 > 1 MANAGEMENT COURSE Introduction to BUSINESS Prof. M-Said Oukil...

 ‫اﻟﻣدرﺳﺔ اﻟوطﻧ ّﯾﺔ اﻟﻌﻠﯾﺎ ﻟﻠذﻛﺎء اﻹﺻطﻧﺎﻋﻲ‬ (National High School of Artificial Intelligence) Ecole Nationale Supérieure de I’Intelligence Artificielle Academic Year / Semester 2024 - 2025 > 1 MANAGEMENT COURSE Introduction to BUSINESS Prof. M-Said Oukil Introduction to Business / (NHSAI) Copyright © 2014 ENSIA Pearson Education, Inc./ Publishing 2024-2025 > 1 Hall as Prentice / Prof. Oukil 2  Entrepreneurship PART 2: MANAGING IN TURBULENT ENVIRONMENTS Fostering SELF Chapter 6: STUDY FOSTERING ENTREPRENEURSHIP Competency-based MGT / Hellriegel-Jackson-Slocum NOV 12, 2024 Prepared by Argie Butler Texas A&M University Week 4 Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship 4 Learning Goals Fostering > Explain the nature of entrepreneurship and the impact the environment has on it; > Describe the competencies that contribute to entrepreneurs’ success; > Outline the planning essentials for potential entrepreneurs; > Indicate the basic essentials of corporate entrepreneurship. > Understand how to start and manage Your Own Business. Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Entrepreneurship: meaning & scope Fostering What is Common Components of Entrepreneurship Entrepreneurship? Or, WHAT DOES IT CONSIST OF? ▪ It is the: ▪ Creation of an Something Something innovative NEW BETTER organization ▪ For the purpose of New delivery Entering an economic gain or growth system underserved ▪ Under or or conditions of distribution channel new market risk or uncertainty. Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship How Does the Environment Affect Fostering Entrepreneurship? ▪ Open and free markets (no state domination); ▪ Deregulation (removing restrictions); ▪ Political climate (stability); ▪ Economic and technological conditions; ▪ Support system >> (ECO-SYSTEM) ✓ Availability of capital and loans, ✓ Tax rates and policies, ✓ Support services: venture capital firms, Blue Angels, chambers of commerce, Fab- lab, INCUBATION, etc. ✓ Corruption free system. Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship The importance of Fostering INCUBATION ▪ Business incubation: a business support process that accelerates the successful development of START-UPS and fledging companies by providing entrepreneurs with an array of targeted resources and services. ▪Common features in business incubators: ✓ Management and technical guidance / advice; ✓ Networking; ✓ Rental space / flexible leases; ✓ Shared business services and equipment; ✓ Psychological and moral support; ✓ Assistance in obtaining financing. Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship QUESTION Fostering Small business—one that is independently owned, launched and operated and which is not dominant in its field of operation. Small business firm may be entrepreneurial, depending upon its initiatives. Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship ANOTHER QUESTION Are Family Businesses Fostering Entrepreneurial Firms? ❑ Family business: one owned and managed mostly by people who are related by blood and/or marriage. ❑ May or may not be entrepreneurial. N.B ❑ 30% of family businesses survive to the second generation, 12% to the third generation, and 3% to the fourth and beyond. Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Competencies of Successful Entrepreneurs Fostering Self MGT 3-Communication ▪ Need for achievement; 2-Planning 1Strategic Team Successful ▪ Desire for and action work entrepreneurs independence; administration ▪ Self confidence ▪ Self sacrifice. Multi- cultural Specialised Knowledge Varies by type of business launched Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship 1-Strategic Action Competency: Fostering Delivering products and services that are perceived Developing or improving as high quality and that are products and services seen by its customers or on a regular basis clients as adding value Generating new Focusing marketing customers or clients that expenditures and expand revenue developing customer- oriented employees Maintaining financial Establishing a strong control of the firm commitment to ethical practices Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship 2- Planning and Administration Competency: Snapshot Fostering Do your homework prior to starting the business. Make sure the market truly needs your service or product. Finally, make sure you can differentiate your service or product from the competition in a way that is beneficial to the customer. Stay focused on your goals, but be flexible enough to modify your business plan to match what the market is truly asking for. As evidenced of why this is important: 75 percent of my firm’s revenue today is from services we did not offer in my original business plan. Daniel Driesenga Founder and CEO Driesenga & Associates Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship 3- Communication Fostering Competency ❖ Successful entrepreneurs score higher than 82% of the population on their ability to express support and encouragement. ❖ Successful entrepreneurs succeed by helping other people—their employees, partners, investors, suppliers—become successful themselves. Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Planning Essentials for Entrepreneurs Fostering ❑ Snapshot ❑ Business Plan “Someone once said: If you don’t ▪ Describes the know where you’re going, any road basic idea that will take you there. BUT, you need to is the know exactly where you want to go, foundation for what route you’re going to take, when the start-up and you will arrive and what you are to do outlines how upon arrival—no guesswork at all. that idea can be You need to determine whether there turned into is a demand for your service and, if reality. so, what constitutes your market.” Don Doggett Management Counselor Counselors to America’s Small Business Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Business Plan: Fostering Essential Components I. Executive Summary: ▪ What, how, why, where, and when must be summarised. II. Business Description Component: ▪ The name of the business. ▪ The potential and uniqueness of the new venture. (continued) Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Fostering III. Marketing Component: ▪ Convince investors that sales projections and competition can be met; ▪ Identify target market, market position, market share, pricing strategy; ▪ Evaluate all competition and state why and how you will be better than your competitors; ▪ Identify advertising plans with cost estimates. Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Fostering IV. Location Component: ▪ Describe the advantages of your location (zoning, tax laws, wage rates); ▪ List the production needs in terms of facilities (plant, storage, office space) and equipment (machinery, furnishings, supplies); ▪ Indicate proximity to your suppliers (transport …) Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Fostering V. Management Component: ▪ Elaborate résumés of all key people in the management of your venture; ▪ Describe the legal structure of your venture (sole proprietorship, partnership, or corporation); ▪ Give information on how and how much everyone is to be compensated. Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Fostering VI. Financial Component: ▪ Describe the needed sources for your funds and the uses you intend for the money; ▪ Develop an estimated budget, cash flow statement, and profit and loss statement; ▪ Create stages of financing for purposes of allowing evaluation by investors at various points. Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Fostering VII. State Potential Critical-Risks Component: ▪ Any potentially unfavourable industry-wide trends, such as price cutting by competitors; ▪ Design or manufacturing costs in excess of estimates; ▪ Sales projections not achieved; ▪ Product development schedule not met; ▪ Provide some alternative courses of action. Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Fostering VIII. Milestone Schedule Component: ▪ Develop a timetable or chart to demonstrate when each phase of the venture is to be completed. IX. Appendix or Bibliography. Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Ways of Starting a Business Fostering A- B- Start-up Franchising strategy Strategy C- D- Buy Other Options Strategy Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Principle of Affordable Loss Fostering ▪ The conscious determination of the amount of resources (money, time, and effort) entrepreneurs are willing to commit to an idea, which, in turn, influences the choice of strategies and methods needed to generate early revenues. ▪ Addresses tension between excessive analysis and quick action. Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Finding Funds Fostering ISLAMIC BANKING Business Blue Venture capitalists angels Entrepreneur, family, Business friends incubators, Private sector government financial agencies institutions Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Factors That Favour a Global Start-up Foreign Fostering Human Financing Target Resources Are is Better Customers Dispersed Among Require an Countries International THINK Presence GLOBAL Global & ACT Start-Up LOCAL Domestic Foreign Inertia Could Competition Will Domestic Impede Later Quickly Enter the Market is Too Efforts to Market Small to Support Internationalise Expenses Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Recommendations to Ensure a Fostering Successful Family Business Clear Job Explicit Hiring Criteria Responsibilities For Family Members And Authority Relationships Commitment to Resolving Conflicts Quickly Plan for Management Use of Outside Transitions Advisors/Directors Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Corporate Entrepreneurship OR Fostering INTRAPRENEURSHIP ❖ What is Corporate Entrepreneurship? ▪ The development, promotion, and implementation of innovation initiatives in established firms for the purpose of generating growth and, thus, profits under risky or uncertain conditions. ▪ This also known as INtrapreneur (ship) and it is essential for the survival of firms. ❖ Who Is a Corporate Entrepreneur? ▪ Someone in an organisation who champions turning new ideas into profitable PROJECTS. Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship How is Corporate Entrepreneurship Fostering Fostered? Commitment from senior MGT Flexible organisation Autonomy of the design venture team Incentives and rewards Appropriately for risk taking Competent and designed control talented people who system exhibit entrepreneurial behaviours and attitudes Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  Entrepreneurship Fostering SHOUND NOT YOU CREATE YOUR OWN STARTUP? THINK ABOUT IT SERIOUSLY & RAPIDLY FIND AN IDEA OF VALUE Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil  THANK YOU ALGERIA? https://www.facebook.com/watch/?extid=NS-UNK-UNK-UNK- IOS_GK0T-GK1C&mibextid=1YhcI9R&v=1409322566534077 Introduction to Business / (NHSAI) ENSIA / 2024-2025 > 1 / Prof. Oukil