mng3201 entrepreneurship & small business management week 2 eric m. phillips (mba, ctp, bsc...

MNG3201 ENTREPRENEURSHIP & SMALL BUSINESS MANAGEMENT

WEEK 2

ERIC M. PHILLIPS (MBA, CTP, BSc Engineering, 1991 White House Fellow)

KNOWLEDGE IS POWER

ABSTRACT THINKING REQUIRED IN THIS CLASS

WHAT IS EDUCATION?

SYDNEY J. HARRIS

  The purpose of education is to turn mirrors into windows.  MARTIN LUTHER KING JR. To save man from the morass of propaganda, in my opinion, is one of the chief

aims of education. Education must enable one to sift and weigh evidence, to discern the true from the false, the real from the unreal, and the facts from the fiction. The function of education, therefore, is to teach one to think intensively and to think critically. But education which stops with efficiency may prove the greatest menace to society.“

"Intelligence plus character--that is the goal of true education."

WHAT IS EDUCATION?

MAHATMA GANDHISeven Dangers To Human Virtue

1 - Wealth without Work2 - Pleasure without Conscience3 - Knowledge without Character4 - Business without Ethics5 - Science without Humanity6 - Religion without Sacrifice7 - Politics without Principle

SRI SATHYA SAI BABA The end of education is character.

MARK TWAIN Never argue with stupid people.

They bring you down to their level then beat you with experience

NUMEROLOGY AND MATHEMATICS

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26

H + A + R+ D + W+ O+ R+ K = 8 + 1 + 18+ 4 + 23 + 15+ 18+ 11 = 98 %

KNOWLEDGE = 96%

LOVE = 54%

LUCK = 47%

A + T + T + I + T + U + D + E = 100 %

1 20 20 9 20 21 4 5

ESTABLISHING A BUSINESS

MODULE 2… SESSION GOALS…MNG 3201

REVIEW OF MODULE 1

DEVELOPING THE FRAMEWORK

ENTREPRENEURSHIP

SMALL BUSINESS MANAGEMENT

I AM THE PERFECT PRODUCT

BUSINESS OPPORTUNITIES

LIFE LESSONS

ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT

THE CREATIVE PROCESS

NEW PRODUCT DEVELOPMENT PROCESS/CYCLE

NEW PRODUCT DEVELOPMENT LIFE CYCLE

NEW PRODUCT DEVELOPMENT

MARKETING MYOPIA

MARKETING MYOPIA

YOU SEGMENT, YOU TARGET, AND YOU POSITION

1. Identifysegmentationvariables andsegment themarket

2. Develop profiles ofresultingsegments

MarketSegmentation

3. Evaluateattractivenessof eachsegment

4. Select thetargetsegment(s)

MarketTargeting

5. Identifypossible

positioningconcepts foreach target

segment

6. Select,develop, andcommunicate

the chosenpositioning

concept

MarketPositioning

WHAT IS YOUR VALUE PROPOSITION?

SUCCESS ENTREPRENEURSHIP AND STRATEGIC SMALL BUSINESS MANAGEMENT ARE ABOUT CREATING CUSTOMER SATISFACTION

AND PROFITS IN A SUSTAINABLE MANNER

OVERARCHING DEFINITION

PHILIP KOTLER and GARY ARMSTRONG……………..PRINCIPLES OF MARKETING (14TH EDITION)

MARKETING IS

“CREATING AND CAPTURING CUSTOMER VALUE”

“MANAGING PROFITABLE CUSTOMER RELATIONSHIPS”

WHAT IS YOUR PRODUCT?

Goods (physical and tangible things)

Ideas (Say no to drugs)

Services (intangible, airlines, hotels)

Information (universities)

Organizations (favorable image)

Experiences (Theme Parks)

Properties (real estate)

Places (Tourism, Guyana)

Events (Shows, Olympics)

Persons (Celebrities) 

WHAT TYPE OF PRODUCT ARE YOU?

WHAT IS YOUR PET ROCK?

PERCEPTION IS REALITY?

PERCEPTION IS REALITY

MARKETING IDIOMSPERCEPTION IS REALITY? OR IS REALITY

PERCEPTION?

COGNITIVE DISSONANCE

FOX AND THE GRAPES

RELIGIOUS DOOMSDAY GROUP

SMOKING AND LUNG CANCER

YOUNG WOMEN IN LOVE

FROZEN HEAT

DRINKING COLAS (COKE & PEPSI)

COGNITIVE DISSONANCE…PERCEPTION IS REALITY

PERCEPTION VRS PHILOSOPHY

BUYER BEWARE

THERE ARE MANY PATHS… BUT ONE DESTINATION?

TYPES OF MARKETING?

You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry

me! " - That’s DIRECT MARKETING“

You’re at a party with a bunch of friends and see a gorgeous girl. One of your friends goes up to her and pointing at you says: " He’s very rich. "Marry him." -That’s

ADVERTISING“

You see a gorgeous girl at a party. You go up to her and get her telephone number. The next day, you call and say: " Hi, I’m very rich. "Marry me - That’s

TELEMARKETING"

TYPES OF MARKETING?

You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!"

And she introduces you to her husband. - "That’s DEMAND AND SUPPLY GAP“

You see a gorgeous girl at a party. You go up to her and before you say anything, another person come and tell her: "I’m rich. Will you marry me?" and she goes with him -

"That’s COMPETITION EATING INTO YOUR MARKET SHARE“

You see a gorgeous girl at a party. You go up to her and before you say: "I’m rich, Marry

me!" your wife arrives. - "That’s RESTRICTION FOR ENTERING NEW MARKETS

TYPES OF MARKETING?

You’re at a party and see gorgeous girl. You get up and straighten your tie, you walk up to her and pour her a drink, you open the door (of the car)for her, pick up

her bag after she drops it, offer her a ride and then say: "By the way, I’m rich.

Will you "Marry Me?" - That’s PUBLIC RELATIONS“

You’re at a party and see gorgeous girl. She walks up to you and says :"You are

very rich! "Can you marry ! Me?" - That’s BRAND RECOGNITION“

You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!" She gives you a nice hard slap on your face. - " That’s

CUSTOMER FEEDBACK

SMALL BUSINESS MANAGEMENT

VALUE CHAIN ANALYSIS

WHERE ARE THE ENTREPRENEURIAL OPPORTUNITIES

GUYANA’S PRIVATE SECTOR STRUCTURE

There are several family owned groups that are very influential in the domestic marketplace.

The local Private Sector is comprised of a small companies in the global context (e.g. the largest local companies have profits of less than US$ 25M).

GUYANA’S PRIVATE SECTOR HAS NO INTERNATIONAL, MULTINATIONAL OR GLOBAL COMPANIES AS IT IS STILL

EVOLVING

GUYANA IS A SMALL GLOBAL PLAYER BUT ITS HAS ALL THE ASSETS TO BECOME A SIGNIFICANT REGIONAL PLAYER WITH

BRICS ACCESS.

‘In terms of size, Guyana’s GDP today, at current basic prices, is about US$ 2.6 billion. This constitutes a truly micro market when compared to an estimated global nominal GDP of about US$100 trillion or thousand billion. Its present population is about 0.75 million persons as compared to 7.1 billion worldwide. In terms of level of living, its present per capita GDP is approximately US$3500.This is less than one-half the global average; the second lowest in Caricom; one-quarter or less that of The Bahamas, Trinidad and Tobago and Antigua-Barbuda; and only about eight per cent that of the OECD countries.”

…..Prof. Clive Thomas

THERE ARE TREMENDOUS OPPORTUNITIES FOR ALL GUYANESE REGARDLESS OF RACE, RELIGION ,POLITICAL AFFILIATION OR CREED.

GUYANA IS DESTINED TO BE A MODERN PROSPEROUS STATE

AN ENGLISH BRIDGE BETWEENCARICOM

&SOUTH

AMERICA

GOLDDIAMONDSBAUXITE

MANGANESEWATER

OIL*

15 MILLION HECTARES OF

PRISTINE FORESTS

200 + FRUITSAND VEGETABLES

ARABLE AGRICULTURAL

LANDS

AGREEMENTS

15 INTERNATIONAL11 TRADE

3 PREFERENTIAL6 BILATERALS

MARKETS

$409 B Export $2Trillion P Power

Access to 311 M Consumers

GEOGRAPHY LANGUAGE NATURAL

RESOURCESMARKETACCESS

GUYANA IS RICHLY ENDOWED IN MANY DIFFERENT WAYS

GUYANA’S GEOGRAPHICAL POSITION ALLOWS THE COUNTRY TO BECOME THE TRANSHIPMENT HUB FOR BRAZIL AND VENEZUELA AND A BRIDGE

TO BOTH CARICOM AND NORTH AMERICAN MARKETS

GUYANA’S GLOBAL COMPARATIVE ADVANTAGE

200+ FRUITS AND VEGETABLES.

A TRANS-SHIPMENT BRIDGE FOR BRAZIL , THE 6TH LARGEST ECONOMY IN THE WORLD.

GREAT RELATIONSHIPS WITH BRAZIL, CHINA, INDIA, RUSSIA AND SOUTH AFRICA (BRICS) WITH ACCESS TO BRICS CAPITAL AND MARKETS.

INCREDIBLE WATER RESOURCES TO ALSO CREATE A WATER BASED ECONOMY (GLOBAL SCARITY).

GUYANA NEEDS TO FIND A WAY TO TURN ITS HUGE AGRICULTURAL RESOURCES INTO A SOLUTION

FOR THE GLOBAL FOOD SECURITY CRISIS THAT IS UNFOLDING

GMOS…THE FUTURE OF FOOD?

ALREADY SOME NATIONS ARE MAKING PLANS TO POSITION THEMSELVES FOR THIS CRISIS……..THE DOOMSDAY VAULT

GUYANA NEEDS TO ACT QUICKLY BEFORE THIS OPPORTUNITY IS SEIZED BY OTHER COUNTRIES

THE GLOBAL SUGAR MARKETPLACE

120 COUNTRIES PRODUCE SUGAR

172 MILLION TONS PRODUCED IN 2014

80% SUGARCANE; 20 SUGAR BEET

70 COUNTRIES (SUGAR); 40 BEET; 10 BOTH

10 LARGEST COUNTRIES PRODUCE 75% OF ALL SUGAR

BRAZIL IS THE LARGEST PRODUCER (25%) & EXPORTER (50%)

CHINA, INDONESIA AND USA ARE LARGEST IMPORTERS

IN 2012/13, BRAZIL PRODUCED 588 MILLION TONS OF SUGARCANE, WHICH YIELDED 38 MILLION TONS OF SUGAR AND 23.2 BILLION LITERS (6.1 BILLION GALLONS) OF ETHANOL. THAT MAKES BRAZIL THE WORLD'S LARGEST SUGAR

PRODUCER AND SECOND LARGEST ETHANOL PRODUCER, BEHIND THE UNITED STATES.

SUGAR………GLOBAL PROFILE

SUGAR IS A VERY STRATEGIC AND COMPLEX MARKETPLACE

ENTREPRENEURSHIP OPPORTUNITIES

BICYCLE

HONEY …APICULTURE

BOOK STORE

WATER…WATER EVERYWHERE

RESTAURANT IN THE MALL

THE GOLDEN RULE?

DO UNTO OTHERS?

DREAM WELL

ANY QUESTIONS OR ANSWERS?