Entrepreneurship & Management Course PPD-801-1 - PDF

COURSE TITLE: ENTREPRENEURSHIP & MANAGEMENT COURSE NO: PPD 801-1  INTRODUCTION “I found Rome a...

COURSE TITLE: ENTREPRENEURSHIP & MANAGEMENT COURSE NO: PPD 801-1  INTRODUCTION “I found Rome a city of Bricks and left it a city of Marble” - Augustus @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  OBJECTIVE SETTING QUESTION – WHY ARE YOU HERE? Why did you come to IPS?  Could be because there is no jobs  You wish to earn a master’s degree  Maybe you don’t really know why you are here  Why?? QUESTION – NOW THAT YOU ARE HERE Write your answer(s) down, keep it/them to yourself. At the end of this week and this Course, check if you have better clarity of an answer  Keep your first answer, keep your clarity answer:  Review them as objectives throughout your 365 days stay here. At the end check if you have achieved your objective. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  INTRODUCTION Azu AZUIKE, B.ENG, M.ENG, PfD, FICPAN, FPEPM, Ksc Omeiheukwu Mbaitoli, Omeziribe Mbieri. A most diverse oil and gas worker with more than 30years experience, traversing both technical and support entities, pioneering most of them. Holds the Bachelor of Engineering B.Eng. (Hons) degree in Electrical/Electronic Engineering with bias in Telecommunications and the Master of Engineering M.Eng. degree in Power Electronics and Computer Engineering, both from the University of Nigeria, Nsukka. An astute Fellow of a number of Institutes and holds two Professional Fellowship Doctorates (PfD)s, one from the Institute of Corporate & Public Administrators of Nigeria engaged in research and development of qualitative and managerial leadership in Education in Nigeria, and another from the Institute of Professional Economists & Policy Management. A professional engineer turned HR Practitioner; A certified recruiter with excellent proficiency in profiling, testing and selecting candidates and engaging same, both for new roles and for higher academic pursuit, for over 20years; A trained capacity/entrepreneurial builder. Widely travelled and have attended several professional and management training programs. A golfer and belongs to the prestigious IBB Golf & Country Club, Abuja. Loves traveling and impacting knowledge. Relaxes with Jazz music & Gospel sounds. Very happily married with 5 children @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  INTRODUCTION Fun Facts About Us “If you want to go “To find yourself, fast, go alone. you have to think If you want to go for yourself” far, go together” - Socrates - African Adage @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  COURSE OUTLINE  INTRODUCTION  The Entrepreneur  Entrepreneurship  THREE KEY ATTRIBUTES OF THE ENTREPRENEUR  Innovation  Team Building  Leadership  ENTREPRENEURSHIP  How to become an Entrepreneur  Characteristics of Entrepreneurship  Types of Entrepreneurs & Entrepreneurship  The Entrepreneur, Entrepreneurship & The Economy  WORKPLACE MANAGEMENT  Effective Workplace Etiquette  Effective Workplace Communication & Networking  Effective Interview Preparation  PROJECTS  Team Building & Leadership Skills  Entrepreneurship skills @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  TIMELINES MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY TIME DESCRIPTION (11/11/2024) (12/11/2024) (13/11/2024) (14/11/2024) (15/11/2024) REVIEW REVIEW REVIEW REVIEW - Day-1 Review - Day-2 Review - Day-3 Review - Day-4 Review 08.15am – LECTURE ATTRIBUTES THE ENTREPRENEUR THE WORKPLACE THE TYPES 10.00am - 3 Key Attributes of - 7 Characteristics of - 5 Key Effective - Entrepreneurs the Entrepreneur the Entrepreneur Workplace Etiquettes - Entrepreneurships 10.00am – Tea Break ORIENTATION 10.15am (by IPES Management) FUNDING THE WORKPLACE - Entrepreneurship INNOVATION THE ENTREPRENEUR - 5 Key Effective financing 10.15am – LECTURE - 5 Characteristics of - How to become an Workplace - Entrepreneurs & The 12.00pm an Innovative Culture Entrepreneur (7ways) Communication & Economy Networking Tips - How Entrepreneurship helps The Economy 12.00pm – Lunch 01.00pm INTERVIEW SKILLS PROJECT (1) INTRODUCTION TEAM BUILDING - Preparing for that 01.15pm – - Team Building & LECTURE - 5 Team Building Interview = 03.00pm Leadership Skills (Not FUN FACTS Strategies 1.The Interview Graded) Expectations 03.00pm – PROJECT (2) - Tea Break 03.15pm Entrepreneurship Skills (Graded) THE ENTREPRENEUR INTERVIEW SKILLS LEADERSHIP PROJECT (1) REVIEW 03.15pm – - an introduction - Preparing for that LECTURE - 5 Elements of - Team Reviews of 04.30pm ENTREPRENEURSHIP Interview = Leadership Project-1 - an introduction 2.The Good Resume. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  END DISCLAIMER AND COPYRIGHT RESERVATION DISCLAIMER THIS PRESENTATION MAY INCLUDE FORWARD LOOKING STATEMENTS AND CONFIDENTIAL INFORMATION SOLELY INTENDED FOR THE BATCH-22 MSC STUDENTS OF THE INSTITUTE OF PETROLUEM AND ENERGY STUDIES, UNIVERSITY OF PORT HARCOURT, NIGERIA. AND IS SUBJECT TO RISK FACTORS AND UNCERTAINTIES CAUSED BY CHANGES IN, WITHOUT LIMITATION, TECHNOLOGICAL DEVELOPMENT AND INNOVATION, ETC. IF YOU ARE NOT THE INTENDED RECIPIENT, PLEASE DO NOT READ, YOU ARE HEREBY NOTIFIED THAT ANY DISCLOSURE OF THIS COMMUNICATION, COPYING, DISTRIBUTION OR TAKING ACTION IN RELIANCE OF THE CONTENTS OF THIS PRESENTATION IS STRICTLY PROHIBITED AND MAY BE UNLAWFUL. IF YOU RECEIVED THIS PRESENTATION IN ERROR, KINDLY INFORM THE AUTHOR AND DELETE THE PRESENTATION. THANK YOU. COPYRIGHT ALL RIGHTS ARE RESERVED AND ALL MATERIAL IN THIS PRESENTATION MAY NOT BE REPRODUCED WITHOUT THE EXPRESS WRITTEN PERMISSION OF THE AUTHOR.  THE ENTREPRENEUR @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  THE ENTREPRENEUR @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  THE ENTREPRENEUR @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  WHY ENTREPRENEURSHIP  PETROLEUM ENGINEERING & MANAGEMENT ECONOMICS 123  WHY THEN ENTREPRENUERSHIP COURSE ? 1.Knowledge  ECONOMICS 123 2.Power  Knowledge based economy  Obtain Critical and Relevant Knowledge 3. Wealth  This Knowledge generates Power to innovate & be creative  This Power (based on Knowledge to innovate) creates sustainable Wealth.  TYPICAL GRADUATE LOOKS STRAIGHT TO WE for Wealth, LOOKING FOR WEALTH  When you look to Wealth, you become a debtor. You cannot grow.  419 & Yahoo-boys; Political hangers-on; only get momentary wealth while the Principal is in Office.  Ostentation & Pretentious Power  Wealth without Knowledge is not sustainable. Power consumes the Wealth  Creation of Innovation comes through search through relevant knowledge @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  WHY ENTREPRENEURSHIP  PETROLEUM ENGINEERING & MANAGEMENT ECONOMICS 101  WHY THEN ENTREPRENUERSHIP COURSE ? 1.Knowledge  ECONOMICS 123  Knowledge based economy 2.Power  Obtain Critical and Relevant Knowledge 3. Wealth  This Knowledge generates Power to innovate & be creative  This Power (based on Knowledge to innovate) creates sustainable Wealth.  TYPICAL GRADUATE LOOKS STRAIGHT TO MONEY, LOOKING FOR WEALTH  When you look to Wealth, you become a debtor. You cannot grow.  419 & Yahoo-boys; Political hangers-on; only get momentary wealth while the Principal is in Office.  Ostentation & Pretentious Power  Wealth without Knowledge is not sustainable. Power consumes the Wealth  Creation of Innovation comes through search through relevant knowledge @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  THE ENTREPRENEUR CASE STUDY 1 - JAZZERCISE  After retiring her professional dancing shoes, Judi Sheppard Missett became an entrepreneur by teaching a dance class to civilians in order to earn some extra cash. But she soon learned that women who came to her studio were less interested in learning precise steps than they were in losing weight and toning up. Sheppard Missett then trained instructors to teach her routines to the masses, and Jazzercise was born. A franchise deal followed. Today, the company has more than 8,300 locations worldwide, worth over 100m$ and one of the foremost online shops. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  THE ENTERPRENEUR DEFINITIONS  The word ‘entrepreneur’ comes from the French verb entreprendre, meaning ‘to undertake’.  An entrepreneur is an individual who undertakes to create a new business, bearing most of the risks and enjoying most of the rewards.  The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business or procedures  The process of setting up a business is known as entrepreneurship. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  THE FUTURISTIC ENTREPRENEUR @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  THE ENTERPRENEURSHIP  THE ENTREPRENEURSHIP ERA - Large-scale entrepreneurship emerged in the second half of the 1800s – the Entrepreneurship Era. - They built business empires, created enormous wealth and raised the standard of living for the across the world. - Jobs became more specialized – increasing productivity while lowing costs and prices @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  ENTREPRENEURSHIP @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  ENTREPRENEURSHIP DEFINITION  Entrepreneurship is the creation or extraction of value.  Entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values than simply economic ones.  Entrepreneurship is an act of being an entrepreneur or ‘the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits’ @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE   Entrepreneurship as integral to production: HOW 1. Land/Natural Resources, ENTREPRENEURSHIP 2. Labour and WORKS 3. Capital  Entrepreneurship combines these three elements to innovate, manufacture goods or provide services.  The entrepreneur typically creates a business plan, hires labour, acquires resources and financing and provides leadership and management for the business.  Entrepreneurs commonly face many obstacles when building their companies. The three commonly cited most challenging are : 1. Overcoming bureaucracy 2. Hiring talent 3. Obtaining financing @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE   DEFINITIONS  A person who undertakes the risk of starting a new business venture is called an entrepreneur  An Entrepreneur creates a company to realize his idea, known as Entrepreneurship which aggregates capital and labour in order to produce goods or services for profit  Entrepreneurship is highly risky but also can be highly rewarding. It serves to generate economic wealth, growth and innovation  Ensuring funding is key for entrepreneurs: financing resources includes loans and crowdfunding.  The way Entrepreneurs file and pay taxes depend on how the business is setup in terms of structure.  Entrepreneurs play a key role in any economy, using the skills and initiatives necessary to anticipate needs and bringing good new ideas to the market.  Entrepreneurship that succeeds is rewarded with profits, fame KEYS TO NOTE and continued growth opportunities for the Entrepreneur  Entrepreneurship that fails results in losses for the Entrepreneur. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  END DISCLAIMER AND COPYRIGHT RESERVATION DISCLAIMER THIS PRESENTATION MAY INCLUDE FORWARD LOOKING STATEMENTS AND CONFIDENTIAL INFORMATION SOLELY INTENDED FOR THE BATCH-22 MSC STUDENTS OF THE INSTITUTE OF PETROLUEM & ENERGY STUDIES, UNIVERSITY OF PORT HARCOURT, NIGERIA. AND IS SUBJECT TO RISK FACTORS AND UNCERTAINTIES CAUSED BY CHANGES IN, WITHOUT LIMITATION, TECHNOLOGICAL DEVELOPMENT AND INNOVATION, ETC. IF YOU ARE NOT THE INTENDED RECIPIENT, PLEASE DO NOT READ, YOU ARE HEREBY NOTIFIED THAT ANY DISCLOSURE OF THIS COMMUNICATION, COPYING, DISTRIBUTION OR TAKING ACTION IN RELIANCE OF THE CONTENTS OF THIS PRESENTATION IS STRICTLY PROHIBITED AND MAY BE UNLAWFUL. IF YOU RECEIVED THIS PRESENTATION IN ERROR, KINDLY INFORM THE AUTHOR AND DELETE THE PRESENTATION. THANK YOU. COPYRIGHT ALL RIGHTS ARE RESERVED AND ALL MATERIAL IN THIS PRESENTATION MAY NOT BE REPRODUCED WITHOUT THE EXPRESS WRITTEN PERMISSION OF THE AUTHOR.  WHY ENTREPRENEURSHIP  PETROLEUM ENGINEERING & MANAGEMENT ECONOMICS 101  WHY THEN ENTREPRENUERSHIP COURSE ? 1.Knowledge  ECONOMICS 123  Knowledge based economy 2.Power  Obtain Critical and Relevant Knowledge 3. Wealth  This Knowledge generates Power to innovate & be creative  This Power (based on Knowledge to innovate) creates sustainable Wealth.  TYPICAL GRADUATE LOOKS STRAIGHT TO MONEY, LOOKING FOR WEALTH  When you look to Wealth, you become a debtor. You cannot grow.  419 & Yahoo-boys; Political hangers-on; only get momentary wealth while the Principal is in Office.  Ostentation & Pretentious Power  Wealth without Knowledge is not sustainable. Power consumes the Wealth  Creation of Innovation comes through search through relevant knowledge @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  ATTRIBUTES @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  3 KEY ATTRIBUTES OF THE ENTREPRENEUR Innovation Team Building Leadership @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  END DISCLAIMER AND COPYRIGHT RESERVATION DISCLAIMER THIS PRESENTATION MAY INCLUDE FORWARD LOOKING STATEMENTS AND CONFIDENTIAL INFORMATION SOLELY INTENDED FOR THE BATCH-22 MSC STUDENTS OF THE INSTITUTE OF PETROLUEM & ENERGY STUDIES, UNIVERSITY OF PORT HARCOURT, NIGERIA. AND IS SUBJECT TO RISK FACTORS AND UNCERTAINTIES CAUSED BY CHANGES IN, WITHOUT LIMITATION, TECHNOLOGICAL DEVELOPMENT AND INNOVATION, ETC. IF YOU ARE NOT THE INTENDED RECIPIENT, PLEASE DO NOT READ, YOU ARE HEREBY NOTIFIED THAT ANY DISCLOSURE OF THIS COMMUNICATION, COPYING, DISTRIBUTION OR TAKING ACTION IN RELIANCE OF THE CONTENTS OF THIS PRESENTATION IS STRICTLY PROHIBITED AND MAY BE UNLAWFUL. IF YOU RECEIVED THIS PRESENTATION IN ERROR, KINDLY INFORM THE AUTHOR AND DELETE THE PRESENTATION. THANK YOU. COPYRIGHT ALL RIGHTS ARE RESERVED AND ALL MATERIAL IN THIS PRESENTATION MAY NOT BE REPRODUCED WITHOUT THE EXPRESS WRITTEN PERMISSION OF THE AUTHOR. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH21– INTRODUCTION – 13-17Nov2023 - Azu AZUIKE  INNOVATION  A New Idea, New Method, New Product, New Service, Etc….  Innovation Must Address A Problem  The idea or design must address or have relative advantage.  NOTE: If relative advantage is not inherent to A product, then it is not an innovation @-ENTREPRENEURSHIP @-ENTREPRENEURSHIP & MANAGEMENT & MANAGEMENT - COURSE - COURSE PPD-801-1 PPD-801-1 – IPS BATCH22 – IPS BATCH21– – 11-15Nov2024 – Engr Dr.INTRODUCTION Azu AZUIKE – 13-17Nov2023 - Azu AZUIKE  CASE STUDY 2 - Blockbuster And Netflix:  Streaming and Mail-order Video Service Provision: Netflix as CASE STUDY.  Once upon a time, let’s say 2001, there was a giant cumbersome video rental chain named Blockbuster. With thousands of stores and tens of thousands of employees.  Things were good for Blockbuster. It owned majority of the US & indeed world video rental market.  Blockbuster sat back and surveyed the land; Life was good. It relaxed  What Blockbuster do not realize was that Netflix, a smaller, BUT very innovative competitor, was about to pull the rug out from under it. INNOVATION A FAIRYTALE OF INNOVATION @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  INNOVATION  1997 - Netflix started up.  In a period of fewer than 15 years, Netflix (with the help of Redbox) changed the video rental game to the point that Blockbuster would file for bankruptcy, and, in 2011, would cease to exist.  This happened in part due to the innovative characteristics of Netflix and its products. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  INNOVATION  Netflix evolved in parallel with technology  In 2007, Netflix began to stream digital movies and TV shows to people’s computers.  Today, Netflix HAS BECOME A STANDARD FOR MANUFACTURERS, offering apps that run on video game consoles, mobile phones and tablets.  Users are just a clicks away from viewing their favorite programs in any setting, on any size screen.  Netflix has transformed from offering most of its products via post, which was costly and relied on a very unreliable mail service, to delivering content to users on demand.  Netflix has maintained relative advantage by innovating in line with the growth of available technology. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  INNOVATION @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  5 CHARATERISTICS OF INNOVATION @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  5 CHARACTERISTICS OF AN INNOVATIVE CULTURE LEADERS MUST BE RISK CORPORATE CULTURE VALUE PEOPLE AND PSYCHOLOGICAL SAFETY FORMAL INNOVATION TAKERS OF “yes and … THEIR TALENTS PROCESS Entrepreneurs must be NO kills a new idea and Often people are seen The basic concept of Formal periodic risk-takers. They take the person may never capable solely for the psychological safety is processes, where any risks to develop new speak up again. job there are hired for. centred around people employee in any corner products and services to Innovative corporate This narrow focus does believing that when of the company can put their organization culture does not place not give leverage to all they bring forth any engage, irrespective of on potential market judgement on people no their hobbies, interests new ideas, there won’t age, experience, share gain. matter their experience and passions which be any personal or education, pay grade, If they don’t, they or level. Because you could offer valuable negative repercussions. etc., produces amazing become responsible for never know who might contributions to other When psychological bubble up of great their organizations’ bring you the next big parts of the company. safety is intact, ideas.. potential lose of market idea. It is important to value organization see higher share. YES, and … encourages employees and all their rate of learning, greater * * * * * Their number one employees to open up talents creativity and fewer priority must be to take mistakes. Design of the on new ideas. risk and have risk in the Panoramic Lift as heart of their leadership good illustration of all 5 Characteristics @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  INNOVATION  TO INCUBATE INNOVATION, it is essential to nurture creativity, encourage teamwork and value the exploration and efforts of THE TEAM.  Ken Robinson, an expert on innovation, opins :“To lead a culture of innovation, it is important to recognize that true creative thinking is not solitary,”  These 5 characteristics imbibed as the corner stone of corporate culture, will track and create new possibilities, new revenue streams and happy engaged employees for any organization that commits to them @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  END DISCLAIMER AND COPYRIGHT RESERVATION DISCLAIMER THIS PRESENTATION MAY INCLUDE FORWARD LOOKING STATEMENTS AND CONFIDENTIAL INFORMATION SOLELY INTENDED FOR THE BATCH-22 MSC STUDENTS OF THE INSTITUTE OF PETROLUEM AND ENERGY STUDIES, UNIVERSITY OF PORT HARCOURT, NIGERIA. AND IS SUBJECT TO RISK FACTORS AND UNCERTAINTIES CAUSED BY CHANGES IN, WITHOUT LIMITATION, TECHNOLOGICAL DEVELOPMENT AND INNOVATION, ETC. IF YOU ARE NOT THE INTENDED RECIPIENT, PLEASE DO NOT READ, YOU ARE HEREBY NOTIFIED THAT ANY DISCLOSURE OF THIS COMMUNICATION, COPYING, DISTRIBUTION OR TAKING ACTION IN RELIANCE OF THE CONTENTS OF THIS PRESENTATION IS STRICTLY PROHIBITED AND MAY BE UNLAWFUL. IF YOU RECEIVED THIS PRESENTATION IN ERROR, KINDLY INFORM THE AUTHOR AND DELETE THE PRESENTATION. THANK YOU. COPYRIGHT ALL RIGHTS ARE RESERVED AND ALL MATERIAL IN THIS PRESENTATION MAY NOT BE REPRODUCED WITHOUT THE EXPRESS WRITTEN PERMISSION OF THE AUTHOR. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE TEAM BUILDING @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  5 STRATEGIES OF TEAM BUILDING @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  1) Choose a Leader  First Action of a Strong Motivated Team is to Agree upon a leader.  To keep everyone in the group motivated, focused, and on track, every project needs someone at the helm.  Team leaders are not the “boss”—they are facilitators, responsible for opening lines of communication and making sure that everyone uses their time and resources effectively.  Team leaders are often chosen because 5 Strategies of Team of their technical expertise or due to Building their ability to communicate and manage people. The best leaders are able to do both. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE D  2) Establish a Clear Goal  Clarity of purpose is key to any successful group.  Before work can begin, you must sit down with the entire group to agree upon a common goal.  A clear goal that the entire team is working towards will prevent loss of focus, wasted time, and conflicting personal agendas. 5 Strategies of Team Building @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE S  3) Set a Schedule with Clear Deadlines  Not everyone is good at time management. I-Personality types, for example, rarely watch the clock.  To avoid deadlines, the most important step after agreeing on a common goal is to create a schedule with clear and realistic deadlines.  This helps everyone monitor their progress and ensure that tasks are 5 Strategies of Team completed as efficiently as possible. Building @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE C  4) Create Open Lines of Communication  The best groups make it a point to touch base with one another frequently.  When individual group members operate in isolation, problems are inevitable.  Communication mechanisms should be deployed for team members to check on one another include - team meetings, email threads, WhatsApp, Google hangouts, etc.  This allows questions to be answered in a 5 Strategies of Team timely fashion, keeps everyone updated on progress, and heads off any confusion that Building might take the project in the wrong direction. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE I  5) Do What You Do Best  The purpose of assembling a team is to strategically group together individuals that possess the diverse set of skills needed to accomplish a specific project.  Check out the first 4 suggestions on this list. Who would be best suited to accomplish each task?  The DISC personality identifies the fact that each of the 4 strategies requires 5 Strategies for Team the expertise of a different personality style. It situates the natural skills of Building each team member. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  5 Strategies of Team Building 9 @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  Conclusion  Strategy 1 on the list requires the leadership and vision of a D personality. Strategy 2 can be mediated by an empathetic and team-oriented S. Strategy 3 is well within the skill set of an organized and analytical C. Strategy 4 can be facilitated by the open and engaging personality of an I.  A team made up of just one personality type is destined to struggle. How would a team made of only D personalities, for example, ever agree on a leader?  Overall, it’s essential to choose a wide variety of personality types for the group, each uniquely skilled at different types of tasks. The team will be stronger as a whole than the sum of its individual parts when this is accomplished.  The most important lesson here is this: Do what you do best. If you’re not skilled at communication but are 5 Strategies of Team excellent at organization, volunteer to come up with a schedule, but let someone else be the spokesperson to Building implement it. You don’t have to be able to do it all—just recognize what you bring to the team and then utilize those skills to their best ability. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  END DISCLAIMER AND COPYRIGHT RESERVATION DISCLAIMER THIS PRESENTATION MAY INCLUDE FORWARD LOOKING STATEMENTS AND CONFIDENTIAL INFORMATION SOLELY INTENDED FOR THE BATCH-22 MSC STUDENTS OF THE INSTITUTE OF PETROLUEM & ENERGY STUDIES, UNIVERSITY OF PORT HARCOURT, NIGERIA. AND IS SUBJECT TO RISK FACTORS AND UNCERTAINTIES CAUSED BY CHANGES IN, WITHOUT LIMITATION, TECHNOLOGICAL DEVELOPMENT AND INNOVATION, ETC. IF YOU ARE NOT THE INTENDED RECIPIENT, PLEASE DO NOT READ, YOU ARE HEREBY NOTIFIED THAT ANY DISCLOSURE OF THIS COMMUNICATION, COPYING, DISTRIBUTION OR TAKING ACTION IN RELIANCE OF THE CONTENTS OF THIS PRESENTATION IS STRICTLY PROHIBITED AND MAY BE UNLAWFUL. IF YOU RECEIVED THIS PRESENTATION IN ERROR, KINDLY INFORM THE AUTHOR AND DELETE THE PRESENTATION. THANK YOU. COPYRIGHT ALL RIGHTS ARE RESERVED AND ALL MATERIAL IN THIS PRESENTATION MAY NOT BE REPRODUCED WITHOUT THE EXPRESS WRITTEN PERMISSION OF THE AUTHOR. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE LEADERSHIP  LEADERSHIP Definition Leadership is a process by which a person influences others to accomplish objectives and directs the organization in a way that makes it more cohesive and coherent. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE 5 ELEMENTS OF LEADERSHIP @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  1 – BE DRIVEN TO DRIVE TEAMS EFFECTIVELY  The Leader builds and leads an effective team  Discovers new solutions and enhances team effectiveness and cohesiveness  Helps bring out the best in individuals in the team  Improves understanding and helps people respect each other’s views even if they do not agree with them.  Helps in exchange of ideas which leads to exciting results  Have Growth Mindset @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  2 – BE EMOTIONALLY INTELLIGENT  Recognize own weakness and relationship skills  Understand how any actions and inactions affect others/the Team  Able to void or manage undesirable outcomes of such actions  Able to predict how individuals will react to future actions  Manage the impact of change on the team. @-ENTREPRENEURSHIP @-ENTREPRENEURSHIP & MANAGEMENT & MANAGEMENT - COURSE - COURSE PPD-801-1 PPD-801-1 – IPS BATCH22 – IPS BATCH21– – 11-15Nov2024 – Engr Dr.INTRODUCTION Azu AZUIKE – 13-17Nov2023 - Azu AZUIKE  3 – COMMUNICATE EFFECTIVELY  First step in effective Communication is to listen.  Listen intently before speaking  Ask clarification questions where necessary  Be transparent to establish trust  Customer Service orientation: Empathize and Apologize to someone’s frustration @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  4 – BE STRATEGIC  Strategic Leadership focuses on key critical factors necessary for long- term success  On Strategic Policy Formulation & Implementation  On Decision Making in Difficult Situations  On Leading and Managing Change @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  5 – BE ACTION CENTRED  Action-Centered Leadership is interested in 3 things only – The Task, The Team and The Individual  Focuses on the three things - the Task (achieving the task); the Team (managing the team); and the Individual (managing the individual)  Deploys the Helicopter view.  Action Centered Leadership is an Effective Leadership Style @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  5 – ACTION CENTRED LEADERSHIP @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  END DISCLAIMER AND COPYRIGHT RESERVATION DISCLAIMER THIS PRESENTATION MAY INCLUDE FORWARD LOOKING STATEMENTS AND CONFIDENTIAL INFORMATION SOLELY INTENDED FOR THE BATCH-22 MSC STUDENTS OF THE INSTITUTE OF PETROLUEM & ENERGY STUDIES, UNIVERSITY OF PORT HARCOURT, NIGERIA. AND IS SUBJECT TO RISK FACTORS AND UNCERTAINTIES CAUSED BY CHANGES IN, WITHOUT LIMITATION, TECHNOLOGICAL DEVELOPMENT AND INNOVATION, ETC. IF YOU ARE NOT THE INTENDED RECIPIENT, PLEASE DO NOT READ, YOU ARE HEREBY NOTIFIED THAT ANY DISCLOSURE OF THIS COMMUNICATION, COPYING, DISTRIBUTION OR TAKING ACTION IN RELIANCE OF THE CONTENTS OF THIS PRESENTATION IS STRICTLY PROHIBITED AND MAY BE UNLAWFUL. IF YOU RECEIVED THIS PRESENTATION IN ERROR, KINDLY INFORM THE AUTHOR AND DELETE THE PRESENTATION. THANK YOU. COPYRIGHT ALL RIGHTS ARE RESERVED AND ALL MATERIAL IN THIS PRESENTATION MAY NOT BE REPRODUCED WITHOUT THE EXPRESS WRITTEN PERMISSION OF THE AUTHOR. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE 7 CHARACTERISTICS OF ENTREPRENEURS  7 CHARACTERISTICS OF ENTREPRENEURS Entrepreneurs are arguably industrious people diving into things they are naturally passionate about. What do they have in common? What do their entrepreneurial success stories have in common?  Giving credence to the adage, “find a way to get paid for the job you’d do for free,” passion is arguably the most important component Startup business owners must have, and every edge helps.  While the prospect of becoming own boss and raking in a fortune is alluring to entrepreneurial dreamers, the possible downside to hanging one’s own shingle is vast. Income is not guaranteed, employer-sponsored benefits go by the wayside, and when business loses money, personal assets can take a hit; not just a corporation’s bottom line.  But adhering to a few tried and tested principles can go a long way in diffusing risk.  The following are seven key characteristics applied by successful entrepreneur. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  7 CHARACTERISTICS OF ENTREPRENEURS  PERSONAL INVOLVEMENT: Customer interactions is essential.  Direct client contact is the clearest path to honest feedback about the target market likes and what could be doing better.  TRAIN EMPLOYEES FOR CUSTOMER INTERFACE: Train employees to invite customer feedbacks as a matter of course.  Customers feel empowered, happier and more likely to recommend businesses to others. 1.  HELP DESK ATTENDANCE: Personal phone answering is one of the most significant competitive edges home-based entrepreneurs hold over their larger competitors. VERSATILE  Customers are frustrated with automated responses and touch-tone menus.  A human voice is one sure way to entice new customers and make existing ones feel appreciated; (80% of all businesses is generated from repeat customers)  POLISHED WEBSITE: Paradoxically, while customers value personal telephone contact, they also expect a highly polished website.  Entrepreneurs must exploit internet technology even when not big.  Just make sure a live human being is on the other end of the phone number listed. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  7 CHARACTERISTICS OF ENTREPRENEURS  Trial & Error: No perfect formulas straight out of the gate.  In reality ideas must morph over time.  Whether tweaking product design or altering food items on a menu, finding the perfect sweet spot takes trial and error. 2.  Example  Judi Misset and Jassercise Flexible  Former Starbucks Chair and CEO Howard Schultz initially thought playing Italian opera music over store speakers would accentuate the Italian coffeehouse experience he was attempting to replicate. But customers saw things differently and didn’t seem to like arias with their espressos. As a result, Schultz jettisoned the opera and introduced comfortable chairs instead. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  7 CHARACTERISTICS OF ENTREPRENEURS  Cash Flow: At the heart of any successful new business is the lifeblood of steady cash flow.  Essential for purchasing inventory, paying rent, maintaining equipment, and promoting the business.  3. Key to staying in the black is rigorous bookkeeping of income versus expenses. Money  Contingency Fund:  Most new businesses do not make profit within the first year. Savvy  Funds set aside as Contingency fund can help mitigate the risk of falling short of funds.  Separate Personal from Business Costs:  Never dip into business funds to cover the costs of daily living.  It’s important to pay yourself a realistic salary that allows you to cover essentials, but not much more; especially where investors are involved. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  7 CHARACTERISTICS OF ENTREPRENEURS  Startup Challenge  Extremely difficult, especially starting from scratch.  Requires lots of time, dedication, and learning from ‘failure’. 4.  Foresight and Strength towards the difficulties on the road ahead. Resilient  Keep pushing forward even in the face of failure and/or rejection.  Learning Curve: Starting own business is a learning process and any learning process comes with a learning curve,  Can be frustrating, especially when money is on the line. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  7 CHARACTERISTICS OF ENTREPRENEURS  Similar to resilience, a successful entrepreneur must stay focused  Eliminate the noise and doubts that come with running a business. 5.  Becoming sidetracked, not believing in own instincts and ideas, Focused and losing sight of the end goal is a recipe for failure.  Must always remember why business was started and remain on course to see it through. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  7 CHARACTERISTICS OF ENTREPRENEURS  Money Management: Understanding how to manage money and financial statements are critical for anyone running own business.  Revenue and Cost lines: Knowing revenues and costs, as well as how to 6. increase or decrease them is important. Business  Cash Burning: Making sure unnecessary cash burnouts will allow keep Smart the business alive.  Sound Business Strategy: knowing the target market, the competitors, as well as strengths and weaknesses, will help manouver the difficult landscape of running the business. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  7 CHARACTERISTICS OF ENTREPRENEURS  Successful Communication is important in every facet of life, regardless of what. 7.  Utmost necessary in running a business. Communication  From conveying the ideas and strategies; to potential investors; to sharing the business plan with employees; to negotiating contracts with suppliers; all require effective communication. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  END DISCLAIMER AND COPYRIGHT RESERVATION DISCLAIMER THIS PRESENTATION MAY INCLUDE FORWARD LOOKING STATEMENTS AND CONFIDENTIAL INFORMATION SOLELY INTENDED FOR THE BATCH-22 MSC STUDENTS OF THE INSTITUTE OF PETROLUEM & ENERGY STUDIES, UNIVERSITY OF PORT HARCOURT, NIGERIA. AND IS SUBJECT TO RISK FACTORS AND UNCERTAINTIES CAUSED BY CHANGES IN, WITHOUT LIMITATION, TECHNOLOGICAL DEVELOPMENT AND INNOVATION, ETC. IF YOU ARE NOT THE INTENDED RECIPIENT, PLEASE DO NOT READ, YOU ARE HEREBY NOTIFIED THAT ANY DISCLOSURE OF THIS COMMUNICATION, COPYING, DISTRIBUTION OR TAKING ACTION IN RELIANCE OF THE CONTENTS OF THIS PRESENTATION IS STRICTLY PROHIBITED AND MAY BE UNLAWFUL. IF YOU RECEIVED THIS PRESENTATION IN ERROR, KINDLY INFORM THE AUTHOR AND DELETE THE PRESENTATION. THANK YOU. COPYRIGHT ALL RIGHTS ARE RESERVED AND ALL MATERIAL IN THIS PRESENTATION MAY NOT BE REPRODUCED WITHOUT THE EXPRESS WRITTEN PERMISSION OF THE AUTHOR. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE HOW TO BECOME AN ENTREPRENEUR  HOW TO BECOME AN ENTREPRENEUR - The 7 Steps @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  “DON’T BE AFRAID OF FAILING, EVERYTIME YOU FALL DOWN, EVERYTIME YOU FAIL, YOU LEARN SOMETHING NEW. YOU ARE READY FOR THE NEXT ONE. YOU HAVE LEARNED HOW NOT TO DO SOMETHING. LEARN FROM IT AND MOVE ON. LEAVE WHAT’S BEHIND AND PRESS FORWARD. YOU CAN ONLY WIN IF YOUR PRESS FORWARD. GO FORWARD, DON’T LET ANYTHING HOLD YOU BACK.” - Anonymous @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  How to Become an Entrepreneur  Unlike traditional professions with defined paths to follow, the road to entrepreneurship is mystifying to most.  What works for one entrepreneur might not work for the next and vice versa.  What works for the same entrepreneur on one project may not work on the next  There are seven general steps that most, if not all, successful entrepreneurs have followed: @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  How to Become an Entrepreneur CASE STUDY 3 – Ben & Jerry’s Ice Cream  After an ice cream making correspondence course, two entrepreneurs, Jerry Greenfield and Ben Cohen paired $8,000 in savings with a $4,000 loan, leased a gas station, and purchased equipment to create uniquely flavored ice cream for the local market.  Today, Ben & Jerry’s is worldwide with outlets in more than 100 countries around the globe and hauls in millions in annual revenue. It is bought over and presently operated by the multinational food giant Uniliver.  Ben Cohen and Jerry Greenfield were childhood friends.  Greenfield wanted to be a doctor but couldn’t make his way into medical school after finishing college.  Cohen was a college drop out.  Cohen and Greenfield decided and completed a correspondence course on ice cream making from Pennsylvania State University's creamery.  Cohen has severe anosmia (a lack of a sense of smell), and so relies on mouthfeel and texture to provide variety in his diet. This led to the company's trademark chunks being mixed in with their ice cream. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  How to Become an Entrepreneur Ensure Financial Stability  This first step is not a strict requirement but is definitely recommended.  While entrepreneurs have built successful businesses Step-1 while being less than financially flush (think of Facebook, founder Mark Zuckerberg as a college student), starting out with an adequate cash supply and ensuring ongoing funding can really help increasing personal runway and allow more time to focus on building a successful business, rather than worrying about making quick money. @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  How to Become an Entrepreneur Build a Diverse Skill Set  Build a diverse set of skills; apply same in the real world. The beauty of this Step-2 is it can be done concurrently with step one.  A toolkit that the entrepreneur can rely on when faced with the inevitability of tough situations. Step-2  Many famous entrepreneurs are famous for being college dropped outs: Steve Jobs (Apple), Mark Zuckerberg (Facebook), and Larry Ellison (Oracle), etc. So is College degree not necessary to becoming a successful entrepreneur?  Truth is College can better equip the aspiring entrepreneur with skill sets in many ways.  And Fact that these famous college dropouts are the exception rather than the norm.  Entrepreneurship major at college not guarantee to good business. Many different subjects can expose different way of thinking that can help in establishing your business @-ENTREPRENEURSHIP & MANAGEMENT - COURSE PPD-801-1 – IPS BATCH22 – 11-15Nov2024 – Engr Dr. Azu AZUIKE  How to Become an Entrepreneur Consume Content Across Multiple Channels  Consume a diverse array of contents in the form of podcasts, books, articles or lectures. The content, no matter the channel, should be varied in what it covers. Step-3  Familiarize with the world around so as to look at industries with