My Experience

    It was fun managing my blog updating it and hearing comments from my friends. I think i can be a writer from what av done. Also i showed the public the importance of entrepreneur and also the way to become one.I really enjoyed my self. Lastly i want to thank my viewers and also the people that commented on my blog. This the part i say goodbye and also see u next time. Peace

                                        FRANCHISE

Definition franchise?

This is an arrangement in which the owner of a trademark, Trade name, or copyright has licensed others, to use it in selling goods or services.

Who is a franchisee?

This is the purchaser of a franchise.

Who is a franchisor

This is the person that buys a franchise.

Definition of a franchise. The existence of a franchise is a matter of definition, pure and simple. Courts will find that a transaction is a "franchise" if three elements are present: (1) the grant or licensing of a right to use a trademark or trade name; (2) the payment of a "franchise fee" for the use of the mark or name; and (3) some variant of a community of interest, marketing plan, control, or assistance.

Advantages of Franchise

1 Training and Guidance

2  Proven Track Record

3  Brand-name Appeal

4  Financial Assistance

—  Examples of Franchise outside Nigeria

Subway

EXAMPLE OF FRANCHISE IN NIGERIA

                Tetrazzini

                  CREATIVITY AND INNOVATION

Creativity is the generation of ideas that results in the improved efficiency or effectiveness of a business.

Innovation is the process by which entrepreneurs convert opportunity into marketable ideas.

                          sources of innovation ideas

TREND-society,technology
UNEXPECTED OCCURRENCES- unexpected success
INCONGRUITIES- overning  package delivery
PROCESS NEEDS- sugar making
 INDUSTRY AND MARKET CHANGES-health care industry
DEMOGRAPHIC CHANGES-rest home
PERCEPTUAL CHANGES-exercise 
KNOWLEDGE BASED CONCEPT- robotics, 

                           TYPES OF INNOVATION

INVENTION-airplanes

EXTENSION- facebook

DUPLICATION- personal computer

SYNTHESIS- Starbucks 

                                   Social Entrepreneur

       This can be defined as a process begin with a social opportunity that is translated into an enterprise.Social entrepreneur is a person of a people who found an organization or initiation engaged in social entrepreneurship.Social entrepreneur applies to social problem solving traditional, private sector entrepreneur focus on innovation risk taking and large scale transformation. Social entrepreneurs also referred to as public entrepreneur civic entrepreneur social entrepreneur.  example

• Age: 34
• Headquarters: Boston
•  2010 budget: $7 million

  Profile

  Getting healthy isn't just about pills and doctors—lots of sick poor people can't really get well unless they also address basic ­issues, like having enough food, getting someone to watch the kids or turning the heat back on. That's where Health Leads comes in. The program's 1,000 or so volunteers (all college ­undergrads) work with hospitals and clinics to help patients navigate language barriers and the bureaucratic jungle to get the services they need.

                                   INTRAPRENEURSHIP

What is Intrapreneurship?: Intrapreneurship is the practice of entrepreneurship by employees within an organization.

Difference between an entrepreneur and an intrapreneur:
An entrepreneur takes substantial risk in being the owner and operator of a business with expectations of financial profit and other rewards that the business may generate. On the contrary, an intrapreneur is an individual employed by an organization for remuneration, which is based on the financial success of the unit he is responsible for. Intrapreneurs share the same traits as entrepreneurs such as conviction, zeal and insight. As the intrapreneur continues to expresses his ideas vigorously, it will reveal the gap between the philosophy of the organization and the employee. If the organization supports him in pursuing his ideas, he succeeds. If not, he is likely to leave the organization and set up his own business.

Example of intrapreneurship: A classic case of intrapreneurs is that of the founders of Adobe, John Warnock and Charles Geschke. They both were employees of Xerox. As employees of Xerox, they were frustrated because their new product ideas were not encouraged. They quit Xerox in the early 1980s to begin their own business. Currently, Adobe has an annual turnover of over $3 billion.

Examples of Intrapreneurs:
A lot of companies are known for their efforts towards nurturing their in-house talents to promote innovation. The prominent among them is “Skunk Works” group at Lockheed Martin. This group formed in 1943 to build P-80 fighter jets. Kelly Johnson was the director of the project, a person who gave “14 rules of intrapreneurship”.

At “3M” employees could spend their 15% time working on the projects they like for the betterment of the company. On the initial success of the project, 3M even funds it for further development.

Genesis Grant is another 3M intrapreneurial program which finances projects that might not end up getting funds through normal channels. Genesis Grant offers $85,000 to these innovators to carry forward their projects
.
Robbie Bach, J Allard and team’s XBOX might not have been feasible without the Microsoft’s money and infrastructure. The project required 100s of millions and quality talent to make the product.

                                    "Moderate achiever"

          I scored 70 in the class activity.i scored 70 because i think i am afraid of taking risk. I was not really surprise because i knew that not taking risk will make me get the 70 i got.

ENTREPRENEUR

                                         ENTREPRENEUR

                meaning-Entrepreneur is derived from a french word entreprendre, meaning to undertake.
     The entrepreneur is one who undertakes risks to organize manage, and assume the risk of the business

                                                  THREE MYTH ABOUT ENTREPRENEURS   
1)Entrepreneurs are born,not made
    Entrepreneur traits and characteristics may be acquired through structured learning.
2)Entrepreneurs are doers,not thinkers
     Frequent thinking planning, innovation, creativity and risk behavior are needed.
3)All entrepreneur need is luck.
       Successful entrepreneurs assume responsibility for success and failure. They downplay the role of luck in the success and failure.

                                        ENTREPRENEURSHIP

 

   Entrepreneurship is the act of being an entrepreneur or "one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods". This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity. The most obvious form of entrepreneurship is that of starting new businesses (referred as Startup Company); however, in recent years, the term has been extended to include social and political forms of entrepreneurial activity. When entrepreneurship is describing activities within a firm or large organization it is referred to as intra-preneurship and may include corporate venturing, when large entities spin-off organizations.

                                            welcome

welcome to my blog
  
      My name is Ibrahim Babatunde Ibrahim.Am from the  America university of Nigeria.
I am going to be talking about entrepreneurship in Nigeria .and i hope you have fun while ready
through.and also Will like your comments