Transcript the administrator as an entrepreneur

THE ADMINISTRATOR
AS AN
ENTREPRENEUR
Pauline A Reid
WHO IS AN
ENTREPRENEUR?
 An entrepreneur is a
 Entrepreneurship is
person who undertakes
the practice of starting,
and operates a new
new businesses
enterprise or venture and
assumes some
generally in response
accountability for the
to identified
inherent risks with the
opportunities.
expectation that profits will
be made.
 Entrepreneurship
 Entrepreneurship is often
ranges in scale from
difficult, as many new
solo proprietorships to
ventures fail in the first
major corporations)
year
THE OFFICE ADMINISTRATOR
 Office administrators undertake a range of functions to make sure the
administrative activities within an organization run smoothly.
 An office administrator usually perform the following tasks:
– supervise the day to day running of the office
– interview job applicants
– conduct orientation programs for new employees
– be involved in staff training and development, the preparation of
job descriptions, staff assessments and promotions
– prepare annual estimates of expenditure, maintain budgetary and
inventory controls and make recommendations to management
– maintain management information systems (manual or
computerized)
– provide and maintain business premises and other facilities
including plant and equipment
– review and respond to correspondence
– executive services for the company
SIMILARITIES
OFFICE ADMINISTRATOR & THE ENTREPRENEUR
 Oversee the overall administrative details of the
organization
 Must have a good grasp of the operations of the
organization
 Capable of multi-tasking
 Be efficient
 Team player
 Be Creative
 Meticulous and detailed…important ingredients for
the success of any business
MAKING THE SWITCH
The economic advantages
A Calculated Decision – Assess Risks
The “ way out” of unemployment for many
A “Vision” a “dream”
“Forced” Entrepreneurship or a desire
 Writing your own pay cheque
Making social, physical and mental
Can the Administrator Succeed as
an Entrepreneur?
 Do you have the passion to succeed?
From the plain and humble beginnings of his family to
becoming one of the richest men in America, Hershey’s
passion for chocolate was matched by nothing except
his love of children. Although he smoked between eight
to ten cigars a day until his death in 1945, Hershey lived
a long life, filled with both failure and success, lots of
hard work and determination, and a concern for his
fellow man. That was Hershey’s recipe for success
Where is Your Market?
 Globalization - the absolute infinite and
borderless market facilitated by the
advancement in technology.
 The CSME makes its easier to member
countries
for trading relations
 Use it well
 Your market “ the world ” is at your doorstep
STRATEGIC
ENTREPRENEURSHIP
 Strategic Vision-Entrepreneurial success depends on the ability
to think strategically, have a clear strategic vision –What does
the future direction of the business look like
 Craft your Vision and Mission statement to embody the image
of the business. Make sure that the mission is in sync with what
your clients can expect of you.
 What is needed and quite often ignored by entrepreneurs is a
business strategy .....YOU must have a strategy… only way
forward
 Complete a strategic plan-Your strategy is a plan for interacting
with the competitive environment to achieve your intended
goals ...globalization, CSME
 Identify your Long term and short term objectives
 The Strategic Implementation –Putting it together to achieve the
planned results.
HOW DO YOU STRATEGIZE
 Uncover, identify, and know what creates and drives value in your
business.
 Understand how to clearly communicate your "value drivers" to your
venture team and potential investors.
 Understand the business planning process and the business plan,
its importance, and uses.
 Understand how to prepare your first value map that helps you find
immediate sales traction in fast-changing marketplace.
 Understand the types of different exit strategies, and identify the one
that is best for your venture.
 Understand how entrepreneurs are successfully getting ahead
today, and how to get on the radar
 Avoid sand traps, land mines, and instant deal killers with investors.
 you need a roadmap to success for your business and a plan
as to how to break into the market
THE WAY FORWARD
 Creativity, Imagination, and Capitalizing on
Opportunities
 Opportunities arise from imagination and insight and lead
to creative, valuable inventions and innovations.
 What creates opportunities?
– While we know much about INDIVIDUAL creativity, how does it
contribute to the innovation process?
– To what extent is creativity an INHERITED characteristic, and
what can we learn from the behavioral sciences about it?
– Is IMAGINATION a group process? What is organizational
creativity? How are opportunities identified?
– What is required to exploit opportunities?
ECONOMIC GROWTH


Entrepreneurship and Economic Growth
It is well-established that entrepreneurship plays an important role in job
creation and therefore in economic growth and development of various
geographic entities from villages to regions and even to entire countries.

Thus, to advance the level of growth and development at all geographic
levels, some scholars believe we need to encourage, motivate, and
support entrepreneurial activities.

Look at what can be done through public policy formation to promote
entrepreneurial activity?
What institutions have the greatest impact on entrepreneurship?
Do certain policies increase entrepreneurial firms’ ability to create jobs
and create growth?


INNOVATION

As the global environment moves faster,
innovation and its partner, change, are requirements for
survival and success.
 The role of innovation has been much studied and
some place it at the heart of success, certainly as a
precursor to change.
 How does innovation arise? Can we understand the
process that creates it? Respond to the market
 How can we identify and learn from potentially
valuable innovations that never make it?
 What resources are necessary to create innovation?
 How can firms enhance the probability that
innovations create value and advantage?
 Why are some firms more innovative than others?
 Does innovation as an event or process differ in
young, small organizations as opposed to large,
established organizations? (absorb more shock)
THE BUSINESS OF WINNNING
1. Improve basic efficiency - all the time.
2. Think as simply and directly as possible about
what you're doing and why.
3. Behave towards others as you wish them to
behave towards you.
4. Evaluate each business and business
opportunity with all the objective facts and logic
you can muster.
5. Concentrate on what you do well.
6. Ask questions ceaselessly about your
performance, your markets, your objectives.
CONT’D
 7. Make money: if you don't, you can't do anything
else.
8. Economise, because doing the most with the
least is the name of the game.
9. Flatten the company, so authority is spread over
many people.
10. Admit to your failings and shortcomings,
because only then will you be able to improve on
them.
11. Share the benefits of success widely among
those who helped to achieve it.
12. Tighten up the organisation whenever you can because success tends to breed slackness.
JOB CREATION
•Promoting a positive attitude towards entrepreneurship through
education is increasingly becoming the policy of governments
whose objective is to generate more employment through
enterprise creation.
•Many enterprise and entrepreneurship education programmes
can be found in schools and communities around the world.
• Through the encouragement of entrepreneurship we can put a
handle on unemployment by creating well needed jobs
•In order to move Jamaica forward it is important that we stop
thinking that we should train our bright young minds for export
QUICK TIPS

Find a Vacuum and Fill It.
Do Your Homework.
Make the Most of Lucky
Breaks.
You Won't Be Committed if You're
Not Having Fun.
Embrace Change as a
Way of Life.
Work Hard, Play Hard.
Develop Your Contacts.
Set Goals (but go easy on the
"vision" thing).
Use Your Time Wisely.
Trust Your Intuition.
Don't Put up with
Mediocrity.
Reach for the Sky (at least once).
Chase Quality, Not
Dollars.
Learn to Sell.
Act Quickly in a Crisis.
Become a Leader. Recognize a
Failure and Move on.
After a Fall, Get Back in
the Saddle Quickly.
THE END