Documente Academic
Documente Profesional
Documente Cultură
1-2
Development of Entrepreneurship (1 of 2)
Earliest Period
Entrepreneurs would sign contracts with a money person. Example: Marco Polo
Middle Ages
Entrepreneurs were actors and people who managed large production projects.
17th Century
Entrepreneurs entered into contractual arrangements with the government. Example: Mississippi Company
1-3
Development of Entrepreneurship (2 of 2)
18th Century
With global industrialization taking place, entrepreneurs were distinguished from capital providers. Inventions developed during this time were reactions to the changing world. Example: Edison & Whitney
1-5
Develop a business plan. Determine the resource requirement. Manage the resulting enterprise.
1-7
Table 1.1
1-8
Types of Start-Ups
Lifestyle firm
Privately held; usually achieves only modest growth.
Foundation company
Created from research and development. Lays the foundation for a new business area.
High-potential venture
Receives the greatest investment interest and publicity. Starts out like a foundation company, but attains rapid growth. Also called gazelles, is integral to the economic development of an area.
1-9
Product Evolution
Need Recognition Industrial
Initiate Innovation
Development
Press to Invent
1-11
Government as an Innovator
One channel for commercializing the results of the synthesis of social need and technology.
Frequently called technology transfer.
1-12
Corporate Entrepreneurship
Strengths of an existing business:
Financial resources. Business skills. Marketing and distribution systems.
In the current era of hypercompetition, strategic business units (SBUs) are emerging.
1-13
Independent Entrepreneurship
Factors that inhibit commercialization:
Managerial skills. Marketing capabilities. Financial resources. Unrealistic inventions. Lack of awareness on interfacing with necessary entities (banks, suppliers, customers, venture capitalists, distributors, and advertising agencies).
1-14
1-15
Future
Entrepreneurship has gained mileage through a number of ways:
Entrepreneurial education. Increase in academic research. Societal support (media coverage). Corporate entrepreneurship.
1-16
Entrepreneurial Universities
Activities Seminars Consulting Research Case Development Technology Development & Transfer Joint Ventures & Strategic Alliances
Structures
Business Assistance Centers Incubators Innovation Centers Industrial Parks Enterprise Development Centers Venture Capital Exchanges
Inputs
Guest Lectures Board of Advisors/Trustees Internships Student Projects Source of Funds
1-17