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