Managerial Skills: Prof. Aparna Kanchan
Managerial Skills: Prof. Aparna Kanchan
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What is Entrepreneurship?
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The Importance of Entrepreneurship
Job Creation
Entrepreneurship accounts for most new jobs in
the an economy.
Innovation
Entrepreneurships are responsible for
introducing a major proportion of new and
innovative products and services into market.
Opportunities for Diverse People
People of diverse background can improve their5
economic status by becoming entrepreneurs.
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Why Become an Entrepreneur?
The three primary reasons that people become entrepreneurs and start their
own firms
Financial rewards
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Entrepreneurship Myths
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Myth 1: Entrepreneurs Are Born, Not Made
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Myth 2: Entrepreneurs Are Gamblers
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Myth 3: Entrepreneurs Are Motivated
Primarily by Money
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Myth 4: Entrepreneurs Should Be
Young and Energetic
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Characteristics of Successful Entrepreneurs
Four Primary Characteristics
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Characteristics of Successful Entrepreneurs
Product/Customer Focus
A second defining characteristic of successful
entrepreneurs is a product/customer focus.
An entrepreneurs keen focus on products and customers
typically stems from the fact that most entrepreneurs are, at
heart, craftspeople.
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Characteristics of Successful Entrepreneurs
Execution Intelligence
The ability to fashion a solid business idea into a viable
business is a key characteristic of successful
entrepreneurs.
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Points Entrepreneur Manager
1. Motive The main motive of an entrepreneur is to Main motive of a manager is to
start a venture for his personal render services in an enterprise
gratification. already set by someone else.
3. Risk Assumes risk and uncertainty Manager does not bear any risk
involved in enterprise.
4. Rewards Profits, which are highly uncertain and not Salary which is certain and fixed.
fixed.
5. Innovation Entrepreneur himself thinks over what and A manager simply executes plans
how to produce goods to meet the prepared by the entrepreneur.
changing needs of the customers. Hence
he acts as innovator / change agent.
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Social Responsibility
RESPONSIBILITIES TOWARDS CONSUMERS
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RESPONSIBILITIES TOWARDS EMPLOYEES
Fairremuneration
Job security and safety
Proper working conditions and employee
welfare
Trade union rights
Employee promotion and code of conduct
Employee participation in management.
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RESPONSIBILLITIES TOWARDS THE
COMMUNITY
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THE 10 COMMANDMENTS OF CORPORATE
SOCIAL RESPONSIBILITY
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CRISIS MANAGEMENT
Crisis Management
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Elements of a Crisis
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Crisis management - 1
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Crisis Management - 2
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Crisis Management - 3
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Types of Crises
Natural disasters
Malevolence
Technical breakdowns
Human breakdowns
Challenges
Mega-damage
Organizational misdeeds
Workplace violence
Rumors
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Crisis Management
Technological crises
- caused by human application of science and
technology
- when technology becomes complex and
coupled and something goes wrong in the
system as a whole (Technological
breakdowns)
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Crisis Management
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Crisis Management
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Crisis Management
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Contingency Planning
Plan in advance
Rehearse via simulation
Stipulate who the spokesperson is
Speed and efficiency in response to crisis
Offer accurate information or it will backfire
Plan offers info and guidance to help
decision makers deal with long-term
effects of decisions
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Role of apologies in crisis
management
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TOYOTA
CRISIS MANAGEMENT FAILURE
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TOYOTA
Basic Rules Violated
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TOYOTA
Basic Rules violated
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TOYOTA
Basic rules violated
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THANK - YOU
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