Documente Academic
Documente Profesional
Documente Cultură
ENTREPRENEURSHIP
UNDERSTANDING
ENTREPRENEURSHIP
The Entrepreneur
entreprende, which means to undertake
Webster dictionary one who organizes,
manages and assumes the risks of a business
or enterprise
Richard Cantillion an entrepreneur is someone
who takes the risk of running an enterprise by
paying a certain price for securing and using
resources to make a product and reselling the
product for an uncertain price.
Industry Structure
New technologies
Deregulation and privatization
Formation of new business communities
Increasing demand for variety
Government incentives and subsidies
Increasing flow of information
Job Creation
Economic growth
New Technology
Serving small markets
Control
The idea
Flexibility
Money
Pros
&
Cons
You are alone
All decisions are yours
All losses are yours
Work may not be
satisfying
You will need to put in
long hours
Lack of success will effect
self esteem
Exiting the business is
difficult
Pressures will affect
social and family life
Entrepreneurial Characteristics
Timmons Defines:
1. commitment and determination;
2. leadership;
3. opportunity obsession;
4. tolerance of risk, ambiguity and uncertainty;
5. creativity, self-reliance and ability to adapt; and
6. motivation to excel.
Bianchi
1. being an offspring of self-employed parents;
2. being fired from more than one job;
3. being an immigrant or a child of immigrants;
4. previous employment in a firm with more than
100 people;
5. being the oldest child in the family; and
6. being a college graduate.
Entrepreneurial Skills
Entrepreneurial Attitudes
Entrepreneurial Motivation
Environment
IDEA
Personal
Goals
Entrepreneurial
Motivation
Entrepreneurial
Activity
Personal
Characteristics
Expectations
Match
Outcomes
Types of Entrepreneurs
Based on Timing of Venture Creation:
Early starters
Experienced
Mature
Based on Socio-cultural Variables:
1st generation entrepreneurs
From Business families
Minority entrepreneurs
Women Entrepreneurs
job or situation)
Serial
Portfolio
Thank you
First Mover
Advantages
Technological
leadership: can also
lead to
Cost advantages
Economies of scale
Impose switching
costs on buyers
Disadvantages
Reveal underlying
business concept
Others can try
different resource
combinations
Investments in
resolving problems:
others can benefit
from learnings
Pre-selection
Brainstorming
Some of the important rules are as follows:
Focus on quantity.
Postpone criticism.
Build on others ideas.
Encourage crazy ideas.
Work with a deadline.
Preliminary Research
Cost structure
Market structure
Technology
HR issues
Government regulations
Mind Maps
SWOT Analysis
STRENGTH
WEAKNESS
OPPORTUNITY
THREAT