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<<< Previous ENTREPRENEURSHIP & PAKISTAN:GENDER DEVELOPMENT STATUS WOMAN AS AN ENTREPRENEUR IN PAKISTAN
 
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Entrepreneurship ­ MGT602
VU
Lesson 45
ENTREPRENEURSHIP & PAKISTAN
LEARNING OBJECTIVES
1.
To look at the history of entrepreneurship in Pakistan
2.
To understand the nature of policies in industrialization.
3.
To understand the profile of a typical entrepreneur in Pakistan.
4.
To learn the purpose of new policies induction.
5.
To identify different fields of entrepreneurship...
6.
To understand the value of Pakistani entrepreneur in the region.
7.
To illustrate some of the fundamental issues related to woman entrepreneurs...
8.
To understand development made in woman entrepreneurship.
9.
To look at the over all scenario of entrepreneurship in Pakistan.
10.
Future of entrepreneurship in Pakistan.
ENTREPRENEURS IN PAKISTAN
Salient Features of Entrepreneurs in Pakistan are:
Age Pattern
"The mean age of entrepreneur was found to be 42 years and of their enterprises 12 years. It is comparable
to the Korean age pattern (46)".
Corporate status
Sole owner: He works with his own hands combines the entrepreneur function of initiating the business
making investments, taking decisions and performing managerial functions".
Heritage: "Caste played an important role in certain industries and on the other hand heritage is dominant.
But overall it is much diversified."
Educational Level
"Differing from industry to industry 60% have school education and 30% have college or better education
only 10% have professional or graduation level".
Skills Level
Majority is skilled in family business Most of training is as a family member. Technically they are very
skilled in heredity business. New generation has professional education
Sizes and Investment
"Majority started in a small way with less than 10 workers and 1/2 to 2/3 of the firms started with less than
50,000 investments"
Growth
"The growth was fast in case of small firms than in large firms".
Profitability
"Rate of profit is higher in case of small industries in comparison with the large industries."
The Industrial History of Pakistan
Pakistan's industrial history has been dominated by a single-minded emphasis on industry and that is of
large-scale enterprises.
The fall out of that development strategy was formally adopted in the 60's as conscious policy step in the
start of second policy plan period (1960-1965) has been large scale industrial holdings, accounting for
much of the country's assets and capital. The feeling among the masses is that a few families control 70 to
80 percent of the country's assets, led to political rebellion. That rebellion also culminated in the
dismemberment of the eastern part of the country. The primary causes for that tragedy, were basically
economic in nature.
The upheaval also generated a parallel economic thought, exclusive to the peculiarities of Pakistan's
economy. That economic thought advocated across the board nationalization of economic assets as a
vehicle for ensuring social justice in the society.
The fall out of that strategy was two pronged:
Inefficient labor
Shaken Business Confidence
100
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Entrepreneurship ­ MGT602
VU
The reaction to that policy mix in the early 1980's was revert back to the Ayubian model of economic
development.
The model was characterized by:
Promotion of large-scale units
Expansion of large-scale enterprises
Banking sector turned to cater to large loans
The IMF conditions and poor recovery rate of huge borrowings played a major role in creating a negative
point for the progress curve. These constraints further pushed the economy towards recession, industry
towards sickness and individual units towards default. All these factors precipitated the rethinking of a
strategy to revive the growth of economy.
It was due to non involvement of banks that medium scale and small-scale enterprises has got the attention
of the stakeholders i.e. the economic managers and the private sector. The development of SMEs suits the
current situation on account of the following factors.
Low overhead cost, low level of financing
Lesser pressure on the banking system
Employment generation
Entrepreneurial development
Vendor based development
Development of large-scale industry on firm basis
A more just distribution of resources and profits
The pre-requisites for the development of SME sector rest heavily on an infrastructure tuned to support
such developments that include:
A banking system customized for SME development
One window operation
Currently, our banking system continues to be the large sector banker. Despite talk of SME development
under the auspices of SMEDA and development of SME Bank and Khushali Bank, the financial sector's
general response has been influenced by the security issue, i.e. against which asset the bank would be
advancing loans to the small and medium scale business entity. In the absence of a customized banking
setup, the development in the SME sector so far has been evolutionary and not the result of any conscious
activities.
The growth of Pakistani entrepreneurship in good in region and can be compared with INDIA, Sri Links
and Malaysia I respect of following
Rising stars%
Lost opportunity%
Pakistan
60.4
10
Sri Lanka
57.1
38.7
India
52.3
29.3
Malaysia
59.6
27.7
101
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Entrepreneurship ­ MGT602
VU
GENDER DEVELOPMENT STATUS WOMAN AS AN ENTREPRENEUR IN PAKISTAN
Each of the two genders of any society constitutes roughly half of the population, and Pakistan is no
exception. People of both genders embody not only labor force, but also knowledge and creativity, which
may be mobilized, to achieve economic ends. Discarding either of the genders, therefore, implies foregoing
the potential benefits, which arise from mobilizing the respective human resources for development.
Pakistani women have been engaged in the production process for ages. Their participation in the
economic activities in the modern society has also progressed beyond agriculture into the local market
economy. Women are increasingly migrating to urban areas for employment in a range of cottage
industries, such as carpet weaving, textiles and handicrafts. In search for wage employment, women are
moving into small business and self-employment ventures thereby creating many formal and informal
opportunities for work.
Women entrepreneurship in the formalized sense, however, remains a new concept. Our current strategies
also tend to focus on increasing women's participation in the labor force. The business environment for
women in Pakistan reflects a complex interplay of many factors made up of social, cultural, traditional and
religious elements. These have taken shape over many centuries; are anchored in patriarchal system and are
clearly manifested in the lower of women. The form of constitutional structures, policy documents,
regulatory arrangements and institutional mechanisms is contemporary rather than traditional, so it is
cosmetically impartial.
Yet the gender bias is rigid and deep-rooted as it draws legitimacy from the perpetuation of a traditional
mind-set, established rituals and a firm belief system. It has conclusively been shown that women business
owners encounter more obstacles, and face more risks, financially, socially, economically, culturally and
legally than male business owners face.
The Government of Pakistan is well aware of the potential of the women in our society and the
contribution they can make towards economic development. Women are continuously being encouraged to
enter the business stream of the country and are being provided incentives. However, there still is a strong
dearth of focused initiatives that need to be taken by existing business facilitation institutions.
The new scenario is giving rise to woman as entrepreneur as they have opened their own chamber of
commerce. The woman bank is in Place and we can see lot of women coming up in-services sector,
apparel, education and many such occupation.
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Table of Contents:
  1. THE NATURE AND IMPORTANCE OF ENTREPRENEURSHIP:DEFINITION OF ENTREPRENEUR
  2. THE NATURE AND IMPORTANCE OF ENTREPRENEURSHIP:Possibility of New Venture Formation
  3. ENTREPRENEURIAL PROCESS/START UPS:GOVERNMENT AS AN INNOVATOR
  4. THE ENTREPRENEURIAL AND ENTREPRENEURIAL MIND:ENTREPRENEURIAL PROCESS
  5. THE ENTREPRENEURIAL AND ENTREPRENEURIAL MIND (continued…)
  6. THE ENTREPRENEURIAL AND ENTREPRENEURIAL MIND (continued…):CLIMATE FOR ENTREPRENEURSHIP
  7. THE ENTREPRENEURIAL AND ENTREPRENEURIAL MIND (continued…):PROBLEMS AND SUCCESSFUL EFFORTS
  8. THE INDIVIDUAL ENTREPRENEUR:ENTREPRENEURIAL BACKGROUND AND CHARACTERISTICS
  9. THE INDIVIDUAL ENTREPRENEUR (continued…):Personal Values, Work History, MOTIVATION
  10. THE INDIVIDUAL ENTREPRENEUR (continued…):ROLE MODELS AND SUPPORT SYSTEMS
  11. INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES:INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES, Minority interests
  12. INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES (continued…):DIRECT FOREIGN INVESTMENT
  13. INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES (continued…):BARRIERS TO INTERNATIONAL TRADE
  14. INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES (continued…):ENTREPRENEURIAL PARTNERING
  15. INTERNATIONAL ENTREPRENEURIAL OPPORTUNITIES (continued…):SOURCES OF NEW IDEAS
  16. CREATIVITY AND THE BUSINESS IDEA:METHODS OF GENERATING NEW IDEAS, CREATIVE PROBLEM SOLVING
  17. CREATIVITY AND THE BUSINESS IDEA:PRODUCT PLANNING AND DEVELOPMENT PROCESS
  18. LEGAL ISSUES FOR THE ENTREPRENEUR:NEED FOR A LAWYER, PATENTS
  19. LEGAL ISSUES FOR THE ENTREPRENEUR:TRADEMARKS, LICENSING
  20. LEGAL ISSUES FOR THE ENTREPRENEURS:PRODUCT SAFETY AND LIABILITY, INSURANCE
  21. CREATING AND STARTING THE VENTURE:WHAT IS THE BUSINESS PLAN, PRESENTING THE PLAN
  22. CREATING AND STARTING THE VENTURE (Continued….):WRITING THE BUSINESS PLAN
  23. CREATING AND STARTING THE VENTURE (Continued….):
  24. CREATING AND STARTING THE VENTURE (Continued….):WHY SOME BUSINESS PLANS FAIL, MARKETING PLAN
  25. THE MARKETING PLAN:MARKET RESEARCH FOR THE NEW VENTURE
  26. THE MARKETING MIX:STEPS IN PREPARING THE MARKETING PLAN
  27. THE ORGANIZATIONAL PLAN:DEVELOPING THE MANAGEMENT TEAM, LEGAL FORMS OF BUSINESS
  28. THE ORGANIZATIONAL PLAN (Continued….)
  29. THE ORGANIZATIONAL PLAN (Continued….):THE LIMITED LIABILITY COMPANY
  30. THE FINANCIAL PLAN:OPERATING AND CAPITAL BUDGETS
  31. THE FINANCIAL PLAN (Continued….):PRO FORMA INCOME STATEMENTS, PRO FORMA CASH FLOW
  32. PRO FORMA SOURCES AND USES OF FUNDS:PERSONAL FUNDS, FAMILY AND FRIENDS
  33. PRO FORMA SOURCES AND USES OF FUNDS:COMMERCIAL BANKS
  34. BANK LENDING DECISIONS:SMALL BUSINESS ADMINISTRATION LOANS
  35. SOURCES OF CAPITAL:GOVERNMENT GRANTS
  36. SOURCES OF CAPITAL:PRIVATE PLACEMENT, BOOTSTRAP FINANCING
  37. CAPITAL SOURCES IN PAKISTAN:PROVINCIAL LEVEL INSTITUTIONS, FINANCIAL INSTITUTIONS
  38. PREPARING FOR THE NEW VENTURE LAUNCH: EARLY MANAGEMENT DECISIONS (Continued….)
  39. PREPARING FOR THE NEW VENTURE LAUNCH: EARLY MANAGEMENT DECISIONS (Continued….)
  40. PREPARING FOR THE NEW VENTURE LAUNCH: EARLY MANAGEMENT DECISIONS (Continued….)
  41. PREPARING FOR THE NEW VENTURE LAUNCH: EARLY MANAGEMENT DECISIONS (Continued….)
  42. PREPARING FOR THE NEW VENTURE LAUNCH: EARLY MANAGEMENT DECISIONS (Continued….)
  43. NEW VENTURE EXPANSION STRATEGIES AND ISSUES:JOINT VENTURES, ACQUISITIONS
  44. NEW VENTURE EXPANSION STRATEGIES AND ISSUES (Continued….):DETERMINING THE PRICE FOR AN ACQUISITION
  45. ENTREPRENEURSHIP & PAKISTAN:GENDER DEVELOPMENT STATUS WOMAN AS AN ENTREPRENEUR IN PAKISTAN