Enterprenership
kineyevarman222
SHORTERTentativeIndividualAssignmentFormat27thAugust20181.pptxShorter Individual Assignment Format
COVER SHEET EXECUTIVE SUMMARY
TABLE OF CONTENTS
LIST OF TABLES
LIST OF FIGURES
Introduction: Some interesting definitions
An entrepreneur is someone who perceives an opportunity and creates an organisation to pursue it.
Bygrave (1997)
Use an interesting description or two like this and highlight it.
An Entrepreneur is a person who identifies and starts a business venture,
sources and organizes the required resources,
and takes both the risks and rewards
associated with the venture.
1974 Borland talked about entrepreneurs having Internal locus of control
1979 Kirzner talked of them as arbitrageurs - ability to spot opportunities
Part 1
Select an ‘entrepreneur’ and analyse their entrepreneurial journey, from the conception of the initial idea through to start-up & ‘growth’.
A Chart to save word length on the Entrepreneur’s Journey.
(This is a rough draft; you can do it much better!)
Part Two
Endogenous (Internal) factors for his success
Locus of Control
Internal locus of control - Individuals who believe themselves to be in control of their own destiny
External locus of control - People who believe that their lives are dominated by chance events outside their own control or powerful people i.e. “fate” controls their destiny.
10
Core and Desirable Attributes
CORE ATTRIBUTES
Commitment & Determination
Leadership
Opportunity Obsession
Tolerance of Risk
Ambiguity & Uncertainty
Creativity, Self-Reliance and Adaptability (Water Logic)
Motivation to Excel
DESIRABLE ATTRIBUTES
Energy, Health, and Emotional Stability
Values
Capacity to Inspire
Creativity & Innovativeness
Intelligence
THE NON-ENTREPRENEURIAL ATTRIBUTES
Being Macho
Perfectionist
Impulsiveness
Being anti-
authoritarian
Counter/dependency
Knows it all
Outer Control
Invulnerability
Timmons (2003:251)
11
Entrepreneurs are at the Centre of so many activities; so they may be specialists in one area, but they have to be generalists.
Entrepreneur
Production
Marketing
Sales and
Finance
Banking
Audit
Legal
Technology
transfer
Suppliers
Inventors
Transportation
Advertising
Market
Research
12
HBDI Herrmann Brain Dominance Instrument
13
Most entrepreneurs seem more right-brained than left – though this is a generalization and most entrepreneurs have left brain characteristics as well.
Managerial v Entrepreneurial Mindset
15
Exogenous (EXTERNAL)factors
(Exogenous)PUSH
Unemployment
Disagreement
‘Misfit’
No alternative
PULL (Endogenous)
Independence
Personal development
Personal wealth
Recognition
Trigger
Even in the Reasons For Starting A Business, there are exogenous factors
17
Entrepreneurs do one of these three (Endogenous) But these trends, problems and the gap is exogenous. If these had not existed, the business would not have been born.
18
Books to quote from
Malcolm Gladwell
Outliers
Serendipity
The right person at the right place at the right time
(See Serendipity PPT)
Serendipity is being the right person at the right place at the right time.
You can quote Malcolm Gladwell’s Outliers.
1956 – Bill Gates and all technology entrepreneurs born around this time.
Entrepreneurial Jigsaw
LUCK(CALL IT SERENDIPITY)
Entrepreneuial character
Business culture
Business decisions
Company strengths
21
Part 4(The secrets of Entrepreneurial success)
What makes entrepreneurs entrepreneurial? Saras D. Sarasvathy
Causal v Effectual Marketing Process
23
• Bird-in-hand principle:
Start with What you have - Who you are, What you know, & Whom you know (Not with the opportunity)
• Affordable loss principle:
Invest what you can afford to lose – extreme case $0
(Not expected return)
• Crazy Quilt principle:
Build a network of self-selected stakeholders
(Not competitive analysis)
• Lemonade principle:
Leverage contingencies and even failures
(Not avoid them)
• Pilot-in-the-plane principle:
If you can control the future, no need to predict it. The future comes from what people do (Not inevitable trends)
Effectual Logic that entrepreneurs employ, as different from others (Saras Sarasvathy)
CONCLUSION
