Académique Documents
Professionnel Documents
Culture Documents
of Entrepreneurs
Hisrich
Peters
McGraw-Hill/Irwin
Shepherd
1-4
OPRAH WINFREY
1-5
1-6
Marco Polo
1-7
Attributes of an Entrepreneur
Self Confidence
Valuing the sense of freedom through
responsibility
Highly Disciplined
Goal oriented and hard working
Flexible and opportunistic
Inspire others
Innovative
Face the phase of adversity
1-10
Role of Entrepreneurship in
Economic Development
Innovation is depicted as a key to
economic development.
Results in Investment:demand and supply
side
Product-evolution process - Process through
which innovation is developed and
commercialized.
Iterative synthesis - The intersection of knowledge
and social need that starts the product
development process.->key are of focus for
technology transfer
1-12
1-13
Role of Entrepreneurship in
Economic Development (cont.)
Three types of innovation:
Ordinary - New products with little technological
change.
Technological New products with significant
technological advancement.
Breakthrough New products with some
technological change.
Mechanisms of commercialization:Government,
Intrapreneurship and Entrepreneurship.
1-14
Government as an Innovator
Process of technology transfer
Govt. sponsored scientific research
Often lacks commercial need
PROS:-Financial resources
CONS:-Lack of Business skills, bureaucracy
and red tape
Solution :Scientific labs tie up with
universities
1-15
Intrapreneurship
Corporates can also help bridge the gap
between science and marketplace
PRO:Financial resources, Business acumen,
marketing-distribution system
CON:Bureaucratic structure, emphasis on
short-term profits inhibits creativity
1-16
Entrepreneurship
Enthusiastic Individuals with the spirit of
Entrepreneurship
CONS:Lack of skills in interfacing with
stakeholders, and possibly the Managerial
acumen:Financial and Marketing
PROS:Incidentally the most successful of all
3
SOLUTION:Keep the ball rolling!more
encouragement of entrepreneurship helps
1-17
1-18
Early
Adulthood
Present
Adulthood
Education and
childhood
workex
Employment
history
Current work
situation
Individual
Childhood
influences on
personality
Adult
development
histiory
Individuals
currrent
perspective
Family
Chilhood
family
environment
Adult family
Current family
situation
work
1-20
1-21
1-22
Moving to MBA
Dan Poston
CEO HTC International
$6million sales stagnation
Decided to pursue MBA
1-23
Future of Entrepreneurship
Were in the age of Entrepreneurshipencouraged by Govt, corporates, society
and educational institutions
Future appears bright-Universities growing
importance to Eship
Increase in academic research
Tax incentives, capital gains tax incentive
helps venture capitalists,pension funds
Prestigious pursuit:Media heralds
Intrapreneurship-Eg :GE has created $1bn
in 15 years
1-24
Attributes of an Entrepreneur
Jack Welch: I prefer the term business
leader. Good business leaders create a
vision, articulate the vision, passionately
own the vision, and relentlessly drive it to
completion. Above all else, though, good
leaders are open. They go up, down, and
around their organization to reach people.
They dont stick to the established
channels. Theyre informal. Theyre straight
with people. They make a religion out of
being accessible. They never get bored
1-25
telling their story.
1-26
1-28
(cont.)
Causal process
Starts with a desired outcome.
Focuses on the means to generate that
outcome.
Effectuation process
Starts with what one has (who they are, what
they know, and whom they know).
Selects among possible outcomes.
(cont.)
It reflects in an entrepreneurs
metacognitive awareness.
1-30
(cont.)
(cont.)
1-32
(cont.)
Loyalty to a product.
Loyalty to a market and customers.
Personal growth.
The need to prove oneself.
1-33
(cont.)
1-34
(cont.)
1-35
(cont.)
Loss-Orientation
Involves working through, and processing, some
aspect of the loss experience and, as a result of this
process, breaking emotional bonds to the object lost.
This process gradually provides the loss with meaning
and eventually produces a changed viewpoint.
Involves confrontation, which is physically and
mentally exhausting.
Characterized by feelings of relief and pain that wax
and wane over time.
1-36
(cont.)
Restoration-Orientation
Based on both avoidance and a proactiveness toward
secondary sources of stress arising from a major loss.
Involves suppression, which requires mental effort and
presents potentially adverse consequences for health.
Provides an opportunity to address secondary causes
of stress.
May reduce emotional significance of the loss.
1-37
(cont.)
1-38
(cont.)