 Bismillah ar-Rahman ar-Raheem ladies and gentlemen, rise and shine, inhale the beauty in, exhale the ugly out. So we are going to start the lesson which is about the entrepreneurship and small business management. The first thing comes in our mind when we, I mean, focus on the word entrepreneurship and there is a difference between the small business management. Is there any big difference? Is are they two different things to understand? Let's try to figure it out. So is that the opportunity to, for the small business management or this is the different kind of innovation which is not relevant to the business or the small business management gives you profit or entrepreneurship gives you a what, a name, initiative or attitude or a behavior or making the society or the developing different nature of society. So what small business management cannot offer, what entrepreneur is offering? So to understand this difference, let's try to figure it out in the different way. Here is the module 164 which is an introduction to the entrepreneurship in the small business management. So traditionally it is the process of designing, launching and running a new business. Well, how we can understand, I mean, it is just the small business such as startup, company offering a product might be they are offering you the process of service for the scale or for the sale of the hire or to hire the scale of economies under the economies of scale, marginal economies or kis tarike se aapne, kitne scale kyo purushka business karna. The point is that when we think of this as the business management, it is just a psychological difference. Business is to just the profit making. It is the business which is being there and entrepreneurship is think and grow, think and grow. So you have to keep this in mind and think and grow on one side and understand the business profit. Anything which is available or being available in the society, you have brought it into business profit making. Now here in entrepreneurship, it can be of different types of things. You have to do a new innovation whose motive profit is not there, now it is not just profit making. But it was being changed again. We will come back to its history because I have already mentioned it a lot, I have understood the theory. Now while condensing, the entrepreneurial word from French is called Antepeur or Antepeur or Antepeur. So it has different pronunciation. Word from the French, first used in 1723, today the term entrepreneur implies qualities of leadership, one, initiative and innovation. Now when these three things come, you do not understand the business small business setup. No, you are doing innovation in it, you are taking money, you are giving money, you are getting results, you have to give profit. How much does it give you? Do you always have one employee? Or do you have to make a big deal out of it? Or do you have to bring in a process of innovation? Or do you bring in something else? Or do you bring in such innovation? Its work is not done by business small setup. But what entrepreneurs offer you? Leadership, initiative, innovation in the new venture design. So any venture design. Now you will talk about venture with me. So I will tell you, spacex is a new venture. Tesla is a new venture. Now the world is on digital space, on Google Earth and on the map, cars are running automatically. Where did the AI design come from? It said that in the era, when there is a horse in history, it would sense. All the relatives would go home by themselves. To get something, you would hold it, he would go and keep it and bring it. He also knew how many people are there in the house. And then the sensors and sensing organs in it, he would search for them, where is the danger? And then he didn't need to tell anyone that he has already gone to a certain destination. If he is going there again, then he didn't need to ask anyone. So this is how, but operating obviously, of course, his steering was in his hands. So when I saw it from here, the horse had an idea of a car. And he would go to his very logical destination. Now you are getting a closer look at Tesla. I refer you and request you, do Google and go to the YouTube. And you go and see how he performs, behaves, how Tesla works, how Tesla gives amusement, how the fire system works, how the air conditioning works, how those sensors work, how the automated braking system works, and then how it tells you about the fuel. And that car is with you. It is in conversation with you. How can a car be in conversation with you? This is something of the next world. Similarly, in the world of cars, where did it start? Where did it start from Rolls-Royce? And where does Tesla end up? And after Tesla, the cars that fly will come separately. The cars of space will come separately. Roots will be different. The world will be changed. And this will be a new time for you. Okay, an economist about this, Robert Rees has said that it is about the leadership. So, Elon Musk saw it. It is about the initiative. So, you saw Bill Gates. So, it is about the innovation. You saw Jeff Bezos. So, why are we giving this name to you? This is the name that thought out of the box thinking. Think out of the box, but don't miss the box. You must be in the box. When you have to show your outcome in the trillions, for example, there is a mark on two, i.e. 13.2 trillions. If Elon Musk's business is established, all the companies are combined with eight companies. Similarly, if Jeff Bezos is going to 7.0 something, then there are no two competitions. But he is also working in space. He is also working. He has become a competitor. You don't know his name. But when you go to research, a lot will come out. Traditionally, an entrepreneur has been defined as a person who organizes and manages any enterprise, especially a business, usually with a considerable initiative and risk. Now, the last thing is risk taking. Entrepreneurial spirit is complete, confined, characteristics and set of risk taking, but mitigated risk. Mitigated risk is that before this, all the efforts to go into space were failing. Elon Musk failed twice. He succeeded in the third. Because he came up with the idea of calculated risk. We have to go towards calculated risk because if we look at the Pakistan's ventures, the people who I am going to talk about entrepreneurial activity, I am going to do it because you must have seen in Pakistan what is the system of the ventures? I mean, it is not like taking a credit card or anything like that. We will talk about all the doubts because you can't minus the diskon. Now, what were those? Daring and visionary. Daring plus visionary is necessary. They were calculated. They were engineers. They were a business family. They had to meet the pluses of the class. Then he did what? There were two people. One was Saeed Babar Ali and one was K. They met there. They had a course in Harvard for business. Then they saw the capacity. When we do business in Pakistan, we will have to bring people from outside. Why not we can develop the vicinity over here and input our own. From here, we can design a business. We can get an S.C.S. number. We don't have to get MBAs. Then we will get the demand of engineers. Then we will do an institute here that will become a nursery for our employees. Or we will work here for the development of those people. You can see in the same way. The idea came from the philanthropist. is the one biggest philanthropist, his passion for the humanity grew into the Pakistan's biggest charitable organization. So this is not about that you can't fund America, you can't fund raising for America, you can't fund raising for America, you can't fund raising for America, you can't fund raising for America. Then is the Monash Rahman owner of rosy.com, this example was necessary. Revolutionized the job market in Pakistan through his innovative use of technology. I have seen that there are a lot of other businesses coming towards job seeking, but the deliverables rosy.com gave were the best. I have seen that in recent times, I have seen a more relevant thing flop, 10 directors have been changed, but they are flopping, the vision behind the screen is not clear, when it blabbering, blabbering, there will be a blurness in its vision, the project will never be complete. For example, this relationship between the small business and entrepreneurship is defined as the process of designing, launching and operating a new business one, then is the opportunity to make the profit, here the entrepreneur is subjected to fast business expansion, a small business owner primary motive is to make profit, but the condensed point is profit, moving on the primary motive of an entrepreneur is to introduce a unique product or service to the market, he always flashed down the curtain, this is what the relationship or the difference between the small scale business and the entrepreneur, thank you very much.