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Strategic orientation
Commitment to Opportunity
The Resourcing Process
Degree of Control over Resources
The concept of Management
Compensation Policy
What is Entrepreneurial
Management
A range of
managerial
behaviour that
consistently falls
at the promoter
end of the
spectrum, as
distinct from the
‘trustee’ end.
[Prof. Howard Stevenson,
1988]
Dimension 1: Strategic
Orientation
Trustee Promoter
I will prune my I am driven by
‘opportunity tree’ my perception of
according to the opportunity. I will
resources I acquire the
currently control. resources as
needed to pursue
these
opportunities.
Dimension 2:
Commitment to
Opportunity
Trustee Promoter
Slow-moving Action-oriented
Trustee Promoter
Formal hierarchy Flat structure
Clearly-defined Fluidity:
authority & - co-ordinate (not
responsibility control)
- empower (not
stifle)
Dimension 6:
Compensation Policy
Trustee Promoter
Little Reward in
differentiation in proportion to
reward - loyalty contribution
and obedience
seen as more Competition to
important than achieve
performance
New Venture Modeling
Is it viable?
By core competency
By unique offering
By occupying sustainable
strategic positions: Product
quality, Long-term relationships,
Operational excellence, Low cost,
Innovation, Technological
monopoly.
4. How will the firm
make money?
The ‘economic model’ provides a
consistent vehicle for earning
profits
Fixed vs. variable costs?
Market demand/opportunity vs.
Capacity
Margins?
Prices fixed or variable (creative
revenue sources)?
5. Scope, size and time
considerations?
What type of business is it:
– Subsistence or lifestyle type business
– Income maximisation (short term / cash
cow)
– Growth (market share maximisation /
brand-building)
– Speculation (quick in and out)
Paradigms are
ontological
orientations that
influence the way
we construct our
realities.
Copyright: David A Robinson 1998
Limitations on
Progress
Resource V R H N V R H N V R H N V R H N
Factors
Physical
Reputational
Organisation
al
Financial
Intellectual
Technical
Where is your ‘SCA
potential’ greatest?
A strength of ours vs. a weakness
of the rival(s)
Our strength is stronger than
theirs
There is an industry-wide
opportunity, that we can make
gains from (first-mover)
The industry has a weakness, that
we can improve on
Beyond Generic
Strategies
Porter gave us:
Differentiation: quality, service,
segmentation management
(positioning)
Cost Leadership: lowest-cost producer,
economies of scale, lean and mean
Focus: Best at some-things to some-
people
These are fine for revising or strengthening an
existing business, but too general for a new
business that must carve out a specific niche for
Considerations in
developing your Business
Strategies
1. Opportunities that appear imminent in
the business environment in which you
will operate
2. Threats that may arise
Note: The opportunities and threats apply
equally to you and your direct competitors
3. Your comparative strengths and
weaknesses (i.e. relative to your
competitors – choose at least two
direct and one indirect)
Opportunities and
Threats
Consider Porter’s 5 use PESTEL:
forces OR
Political
Buyers’ Power – how
many? collusion? Economic
Suppliers –
monopoly? oligopoly?
Substitutes – Social
existing/in-the-
pipeline? Technology
Barriers to entry – Environment
how to keep rivals Legal
out
Rivalry – price vs.
quality/service
The Cross Impact
Analysis
Business Strategy Finder
Apparent Apparent
Opportunities Threats
Initiator
Internal locus of
control
‘I’ – subjectivist
“Entrepreneurial
Ethics”
Non-prescriptive
A-universal
(relativist)
Context-specific
Subjectivist
(personal world-
view)
Putting it to the test
Sample: ‘Run of the mill’
entrepreneurs, rather than high-
flyers
Requirements: Accessible,
Articulate, Willing to share
(secrets), Non-academic, Pre-
reflective, Sufficient Variation
Methodology
Diplomatically investigative
(conversational)
Detailed (without being invasive)
Short interviews (1.5 to 2 hours)
Semi-structured
Meaning-rich (metaphor &
anecdotes)
Distillable
Dilemma 1: Can I operate a business that
is engaged in dishonest practices?
X Y
Technique to
Business Ethical
Imperative Imperative
define and
resolve dilemmas
Z -Z
Uses a
standardised
Implication Conflicting
Implication
argument format
Prompts a
personalised
solution
‘BESS’
Business Ethics Synergy
Star copyright David A. Robinson 2002
Objective
O
Business
Ethical
Condition Condition
Imperative Imperative
for X for Y
Assembling ‘BESS’
State the dilemma Objective (O)
as an either/or
proposition
X Y
Place the dilemma
within the context of
a clearly defined
objective
Z -Z
Define the business
imperative (X) that
implies Z, define the
ethical imperative
(Y) that implies –Z
BESS 1 Be
influential
Remain in Be true to
the game my
conscience
Not
Condone condone
dishonest dishonest
business business
practices practices
Findings
Most business
dilemmas contain
an ethical
component
Entrepreneurs
usually resolve
dilemmas alone
Ethical dilemmas
require non-
normative, even
subjectivist,
Interesting Observations
from using BESS
The ethical solution
generated by BESS
is usually from a
Objective higher value station
than the conflict
O
BESS is especially
Business
Condition
Ethical
Condition
useful when the
leader already
knows the answer
but needs ‘buy in’
Imperative Imperative
for X for Y