SlideShare a Scribd company logo
1 of 20
Download to read offline
ENTREPRENEUR AND BUSINESS
PLANNING
Chapter 2:
THE ENTREPRENEURIAL AND
INTRAPRENEURIAL MIND
Prepared by:
Prof. SEYED ALI FALLAHCHAY
THE ENTREPRENEURIAL PROCESS
The process of starting a new venture is embodied in
the entrepreneurial process, which involves more than
just problem solving in a typical management position.
An entrepreneur must find, evaluate, and develop an
opportunity by overcoming the forces that resist the
creation of something new.
Aspects of Entrepreneurial process
The process has four distinct phase:
1) Identification and evaluation of the opportunity
2) development of the business plan,
3) determination of the required resources, and
4) management of the resulting enterprise.
Identify and Evaluate the Opportunity
Opportunity Identification and evaluation is a very
difficult task. Most good business opportunities do not
suddenly appear, but rather results from an
entrepreneur’s alertness to possibilities or, in some
cases, the establishment of mechanism that identify
potential opportunities.
Steps to identify and evaluate the opportunity
• Opportunity assessment
• Creation and length of opportunity
• Real and perceived value of opportunity
• Risk and returns of opportunity
• Opportunity versus personal skills and goals
• Competitive environment
Develop a Business Plan
A good business plan must be developed in order to
exploit the defined opportunity. this is very time-
consuming phase of the entrepreneurial process.
A good business plan is essential to developing the
opportunity and determining the resources required,
obtaining those resources, and successfully managing
the resulting venture.
Steps to develop Business Plan
• Title page
• Table of contents
• Executive Summary
• Major Section
• Appendixes
1. Description of Business
2. Description of Industry
3. Technology Plan
4. Marketing Plan
5. Financial Plan
6. Production Plan
7. Organization Plan
8. Operational Plan
9. Summary
Determination of the required resources
The resources needed for addressing the opportunity
must also be determined. This process starts with an
appraisal of the entrepreneur’s present resources. Any
resources that are critical need to be differentiated
from those that are just helpful. Care must be taken not
to underestimate the amount and variety of resources
needed. The downside risks associated with insufficient
or inappropriate resources should also be assessed.
Steps to Determine Resources Required
• Determine resources needed.
• Determine existing resources.
• Identify resource gaps and available suppliers.
• Develop access to needed resources.
Manage the Enterprise
After resources are acquired, the entrepreneur must
use them to implement the business plan. The
operational problems of the growing enterprise must
also be examined. This involves implementing a
management style and structure, as well as
determining the key variables for success. A control
system must be established, so that any problem areas
can be quickly identified and resolved.
Steps to Manage the Enterprise
• Develop management style.
• Understand key variables for success.
• Identify problems and potential problems.
• Implement control systems.
• Develop growth strategy.
Managerial Vs. Entrepreneurial decision making
Five different dimensions between entrepreneurial decision
making and managerial styles:
• strategic orientation
• commitment to opportunity
• commitment of resources
• control of resources
• management structure
Managerial styles are called the administrative domain.
Administrative domain is the way manager make decisions.
CAUSES FOR INTEREST IN
INTRAPRENEURIALSHIP
These differences in entrepreneurial and managerial
domains have contributed toward an increased interest
in intrapreneurship. This interest has intensified due to
a variety of events occurring on social, cultural, and
business levels.
On a social level , there is an increasing interest in
“doing your own thing” and doing it on one’s own
terms. Individuals who believe strongly in their own
talents frequently desire to create something of their
own. They want responsibility and have a strong need
for individual expression and freedom in their work
environment.
When this freedom is not there, frustration can cause
that individual to become less productive or even leave
the organization to achieve self-actualization
elsewhere.
The resistance against flexibility, growth, and
diversification can, in part, can be overcome by
developing a spirit of entrepreneurship within the
existing organization, called intrapreneurship. An
increase in intrapreneurship reflects on an increase in
social, cultural, and business pressures.
Corporate Vs. Intrapreneurial Culture
Corporate Culture
- is the environment of a particular organization.
Shared values and norms:
• Hierarchical in nature
• Established procedures
• Reporting systems
• Line of authority and responsibility
• Instructions
• Control mechanism.
Intrapreneurial culture
- Is the environment of an entrepreneurial-oriented
organization.
Shared values and norms:
• Flat organizational structure with networking
• Team work
• Sponsors
• Mentors abounding
Note: Close-working relationship help to establish an
atmosphere of trust that facilitates the accomplishment
of visions and objectives.
Climate for Intrapreneurship
• Organization operates on frontiers of technology
• New ideas encouraged
• Trial and error encouraged
• Failures allowed
• No opportunity parameters – barrier to new product
creation and development
• Resources available and accessible
• Multi-discipline teamwork approach
• Long-time horizon
• Volunteer program
• Appropriate reward system
• Sponsors and champions available
• Support of top management
Intrapreneurial Leadership Characteristics
• Understand the environment
• Visionary and flexible
• Creates management options
• Encourages teamwork
• Encourages open discussion
• Build a collision of supporters
• Persists
Establishing Intrapreneurship in the Organization
1. To secure a commitment to intrapreneurship in the
organization by top, upper, and middle
management levels.
2. Ideas and general areas that top management are
interested in supporting should be identified, along
with the amount of risk money that is available to
develop the concept further.
3. A company need to use technology to make it more
flexible.
4. The organization should have a group of interested
managers who will train employees as well as share
their experiences.
5. The organization needs to develop ways to get closer to
its customers.
6. An organization that want to become more
intrapreneurial must learn to be more productive with
fewer resources.
7. The organization needs to establish a strong support
structure for intrapreneurialship.
8. Support must also involve trying the rewards to the
performance of the intrapreneurial unit.
9. The organization need to implement an evaluation
system that allows successful intrapreneurial unit to
expand and unsuccessful ones eliminated.
Establishing Intrapreneurship in the Organization

More Related Content

What's hot

Lecture 2 - Entrepreneurial Ventures
Lecture 2 - Entrepreneurial VenturesLecture 2 - Entrepreneurial Ventures
Lecture 2 - Entrepreneurial VenturesStefanieWijaya
 
Entrepreneurship Chap 5
Entrepreneurship Chap 5Entrepreneurship Chap 5
Entrepreneurship Chap 5Umair Arain
 
Characteristics of a successful entrepreneur
Characteristics of a successful entrepreneurCharacteristics of a successful entrepreneur
Characteristics of a successful entrepreneurSandrea Butcher
 
Entrepreneurship Development & SME Management
Entrepreneurship Development & SME ManagementEntrepreneurship Development & SME Management
Entrepreneurship Development & SME ManagementAbdur Rahman
 
The Nature and Importance of Entrepreneurs
The Nature and Importance of EntrepreneursThe Nature and Importance of Entrepreneurs
The Nature and Importance of Entrepreneursgohar321
 
Entrepreneurship hisrich chapter 1
Entrepreneurship hisrich chapter 1Entrepreneurship hisrich chapter 1
Entrepreneurship hisrich chapter 1Rao Majid Shamshad
 
Corporate entrepreneurship
Corporate entrepreneurshipCorporate entrepreneurship
Corporate entrepreneurshiprahul kapoliya
 
Startups and managing startups
Startups and managing startupsStartups and managing startups
Startups and managing startupsPavan Kumar Vijay
 
The Business Plan, Creating & Starting the Venture
The Business Plan, Creating & Starting the VentureThe Business Plan, Creating & Starting the Venture
The Business Plan, Creating & Starting the VentureMuhammad Ali
 
Innovation and entrepreneurship
Innovation and entrepreneurshipInnovation and entrepreneurship
Innovation and entrepreneurshipdaryl10
 
Nature & Development of Entrepreneurship
Nature & Development of EntrepreneurshipNature & Development of Entrepreneurship
Nature & Development of EntrepreneurshipMuhammad Ali
 
Introduction to Entrepreneurship (1).pptx
Introduction to Entrepreneurship (1).pptxIntroduction to Entrepreneurship (1).pptx
Introduction to Entrepreneurship (1).pptxAdwaithDinesh2
 
Introduction To Entrepreneurship
Introduction To EntrepreneurshipIntroduction To Entrepreneurship
Introduction To EntrepreneurshipAbhishek Duttagupta
 

What's hot (20)

Lecture 2 - Entrepreneurial Ventures
Lecture 2 - Entrepreneurial VenturesLecture 2 - Entrepreneurial Ventures
Lecture 2 - Entrepreneurial Ventures
 
Business plan
Business planBusiness plan
Business plan
 
Entrepreneurship Chap 5
Entrepreneurship Chap 5Entrepreneurship Chap 5
Entrepreneurship Chap 5
 
Theories of entrepreneurship_shriram.dawkhar
Theories of entrepreneurship_shriram.dawkharTheories of entrepreneurship_shriram.dawkhar
Theories of entrepreneurship_shriram.dawkhar
 
New venture creation
New venture creationNew venture creation
New venture creation
 
Characteristics of a successful entrepreneur
Characteristics of a successful entrepreneurCharacteristics of a successful entrepreneur
Characteristics of a successful entrepreneur
 
Introduction to entrepreneurship
Introduction to entrepreneurshipIntroduction to entrepreneurship
Introduction to entrepreneurship
 
Entrepreneurship Development & SME Management
Entrepreneurship Development & SME ManagementEntrepreneurship Development & SME Management
Entrepreneurship Development & SME Management
 
The Nature and Importance of Entrepreneurs
The Nature and Importance of EntrepreneursThe Nature and Importance of Entrepreneurs
The Nature and Importance of Entrepreneurs
 
Entrepreneurship hisrich chapter 1
Entrepreneurship hisrich chapter 1Entrepreneurship hisrich chapter 1
Entrepreneurship hisrich chapter 1
 
Corporate entrepreneurship
Corporate entrepreneurshipCorporate entrepreneurship
Corporate entrepreneurship
 
Startups and managing startups
Startups and managing startupsStartups and managing startups
Startups and managing startups
 
Types of entrepreneurs
Types of entrepreneursTypes of entrepreneurs
Types of entrepreneurs
 
The Business Plan, Creating & Starting the Venture
The Business Plan, Creating & Starting the VentureThe Business Plan, Creating & Starting the Venture
The Business Plan, Creating & Starting the Venture
 
Innovation and entrepreneurship
Innovation and entrepreneurshipInnovation and entrepreneurship
Innovation and entrepreneurship
 
Nature & Development of Entrepreneurship
Nature & Development of EntrepreneurshipNature & Development of Entrepreneurship
Nature & Development of Entrepreneurship
 
Introduction to Entrepreneurship (1).pptx
Introduction to Entrepreneurship (1).pptxIntroduction to Entrepreneurship (1).pptx
Introduction to Entrepreneurship (1).pptx
 
entrepreneurial-mind-ppt-4.pptx
entrepreneurial-mind-ppt-4.pptxentrepreneurial-mind-ppt-4.pptx
entrepreneurial-mind-ppt-4.pptx
 
Introduction To Entrepreneurship
Introduction To EntrepreneurshipIntroduction To Entrepreneurship
Introduction To Entrepreneurship
 
Corporate entrepreneurship
Corporate entrepreneurshipCorporate entrepreneurship
Corporate entrepreneurship
 

Viewers also liked

International entrepreneurial opportunities
International entrepreneurial opportunitiesInternational entrepreneurial opportunities
International entrepreneurial opportunitiesMartin Hannibal
 
Theories of entrepreneurship
Theories of entrepreneurshipTheories of entrepreneurship
Theories of entrepreneurshipDilpreet Bathla
 
Nature of Entrepreneurship
Nature of EntrepreneurshipNature of Entrepreneurship
Nature of EntrepreneurshipXophia Montawal
 
National Trade and Economy
National Trade and EconomyNational Trade and Economy
National Trade and EconomyFallahchay Ali
 
Module 1 the entrepreneurial perspective
Module  1 the entrepreneurial perspectiveModule  1 the entrepreneurial perspective
Module 1 the entrepreneurial perspectivePriya Srinivas
 
Role played-by-central-state-government-to-promote-entrepreneurship
Role played-by-central-state-government-to-promote-entrepreneurshipRole played-by-central-state-government-to-promote-entrepreneurship
Role played-by-central-state-government-to-promote-entrepreneurshiphulk_raghav
 
Importance of international entrepreneurship,
Importance of international entrepreneurship, Importance of international entrepreneurship,
Importance of international entrepreneurship, Usman Raza Qureshi
 
Theories of entrepreneurship
Theories of entrepreneurshipTheories of entrepreneurship
Theories of entrepreneurshipRenu Malra
 
Theories of entrepreneurship
Theories of entrepreneurshipTheories of entrepreneurship
Theories of entrepreneurshipAkshay Ganbote
 
Project planning and feasibility study
Project planning and feasibility studyProject planning and feasibility study
Project planning and feasibility studyMars Mfyam
 
Adventures In Intrapreneurship
Adventures In IntrapreneurshipAdventures In Intrapreneurship
Adventures In IntrapreneurshipAlex Cowan
 
Principles of management – mgt101
Principles of management – mgt101Principles of management – mgt101
Principles of management – mgt101Fallahchay Ali
 
International Entrepreneurship
International EntrepreneurshipInternational Entrepreneurship
International EntrepreneurshipAnirudh Agrawal
 
THE STRATEGY FOR THE VENTURE-STRATEGIC ENTREPRENEURSHIP
THE STRATEGY FOR THE VENTURE-STRATEGIC ENTREPRENEURSHIPTHE STRATEGY FOR THE VENTURE-STRATEGIC ENTREPRENEURSHIP
THE STRATEGY FOR THE VENTURE-STRATEGIC ENTREPRENEURSHIPKiera Syakira
 
Enterprise resource planning ppt
Enterprise resource planning pptEnterprise resource planning ppt
Enterprise resource planning pptBabasab Patil
 

Viewers also liked (20)

International entrepreneurship
International entrepreneurshipInternational entrepreneurship
International entrepreneurship
 
International entrepreneurial opportunities
International entrepreneurial opportunitiesInternational entrepreneurial opportunities
International entrepreneurial opportunities
 
Creating and starting the venture
Creating and starting the ventureCreating and starting the venture
Creating and starting the venture
 
Theories of entrepreneurship
Theories of entrepreneurshipTheories of entrepreneurship
Theories of entrepreneurship
 
263539 633925704903692500
263539 633925704903692500263539 633925704903692500
263539 633925704903692500
 
Nature of Entrepreneurship
Nature of EntrepreneurshipNature of Entrepreneurship
Nature of Entrepreneurship
 
National Trade and Economy
National Trade and EconomyNational Trade and Economy
National Trade and Economy
 
Module 1 the entrepreneurial perspective
Module  1 the entrepreneurial perspectiveModule  1 the entrepreneurial perspective
Module 1 the entrepreneurial perspective
 
Role played-by-central-state-government-to-promote-entrepreneurship
Role played-by-central-state-government-to-promote-entrepreneurshipRole played-by-central-state-government-to-promote-entrepreneurship
Role played-by-central-state-government-to-promote-entrepreneurship
 
Importance of international entrepreneurship,
Importance of international entrepreneurship, Importance of international entrepreneurship,
Importance of international entrepreneurship,
 
Theories of entrepreneurship
Theories of entrepreneurshipTheories of entrepreneurship
Theories of entrepreneurship
 
Theories of entrepreneurship
Theories of entrepreneurshipTheories of entrepreneurship
Theories of entrepreneurship
 
Theories of-entrepreneurship
Theories of-entrepreneurshipTheories of-entrepreneurship
Theories of-entrepreneurship
 
Project planning and feasibility study
Project planning and feasibility studyProject planning and feasibility study
Project planning and feasibility study
 
Adventures In Intrapreneurship
Adventures In IntrapreneurshipAdventures In Intrapreneurship
Adventures In Intrapreneurship
 
Principles of management – mgt101
Principles of management – mgt101Principles of management – mgt101
Principles of management – mgt101
 
International Entrepreneurship
International EntrepreneurshipInternational Entrepreneurship
International Entrepreneurship
 
THE STRATEGY FOR THE VENTURE-STRATEGIC ENTREPRENEURSHIP
THE STRATEGY FOR THE VENTURE-STRATEGIC ENTREPRENEURSHIPTHE STRATEGY FOR THE VENTURE-STRATEGIC ENTREPRENEURSHIP
THE STRATEGY FOR THE VENTURE-STRATEGIC ENTREPRENEURSHIP
 
The business plan
The business planThe business plan
The business plan
 
Enterprise resource planning ppt
Enterprise resource planning pptEnterprise resource planning ppt
Enterprise resource planning ppt
 

Similar to THE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND

Lecture 2 Corporate Entrepreneurship.ppt
Lecture 2 Corporate Entrepreneurship.pptLecture 2 Corporate Entrepreneurship.ppt
Lecture 2 Corporate Entrepreneurship.pptAlfredKirubaRaj2
 
Chaper 2....enterpreneurial-intentions
Chaper 2....enterpreneurial-intentionsChaper 2....enterpreneurial-intentions
Chaper 2....enterpreneurial-intentionsHari Shrestha
 
ENTREPRENEURSHIP PROCESS BCOM.pptx
ENTREPRENEURSHIP PROCESS BCOM.pptxENTREPRENEURSHIP PROCESS BCOM.pptx
ENTREPRENEURSHIP PROCESS BCOM.pptxMusangabuEarnest
 
Entrepreneurial Process
Entrepreneurial ProcessEntrepreneurial Process
Entrepreneurial Processashok kumar
 
Entrpreneurial competencies
Entrpreneurial competenciesEntrpreneurial competencies
Entrpreneurial competenciesAmandaBvera
 
42038536-Entrepreneurship-Full-notes.pptx
42038536-Entrepreneurship-Full-notes.pptx42038536-Entrepreneurship-Full-notes.pptx
42038536-Entrepreneurship-Full-notes.pptxVicky Banoriya
 
Entrepreneurship development
Entrepreneurship developmentEntrepreneurship development
Entrepreneurship developmentSana Roohi
 
Entrepreneurship Development module I.pptx
Entrepreneurship Development module I.pptxEntrepreneurship Development module I.pptx
Entrepreneurship Development module I.pptxrajalakshmi5921
 
Read attachedpages about 3-M and their approach to innovationRes.docx
Read attachedpages about 3-M and their approach to innovationRes.docxRead attachedpages about 3-M and their approach to innovationRes.docx
Read attachedpages about 3-M and their approach to innovationRes.docxmakdul
 
Chapter 1 concept and nature of entrepreneurship
Chapter 1 concept and nature of entrepreneurshipChapter 1 concept and nature of entrepreneurship
Chapter 1 concept and nature of entrepreneurshipAlebachew Hailu
 
The Concept of Corporate Entrepreneurship - Intrapreneurship
The Concept of Corporate Entrepreneurship - IntrapreneurshipThe Concept of Corporate Entrepreneurship - Intrapreneurship
The Concept of Corporate Entrepreneurship - IntrapreneurshipGaurav Singh Bisen
 

Similar to THE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND (20)

Chapter-2.pptx
Chapter-2.pptxChapter-2.pptx
Chapter-2.pptx
 
Lecture 2 Corporate Entrepreneurship.ppt
Lecture 2 Corporate Entrepreneurship.pptLecture 2 Corporate Entrepreneurship.ppt
Lecture 2 Corporate Entrepreneurship.ppt
 
ENTREPRENEURSHIP
ENTREPRENEURSHIPENTREPRENEURSHIP
ENTREPRENEURSHIP
 
Chaper 2....enterpreneurial-intentions
Chaper 2....enterpreneurial-intentionsChaper 2....enterpreneurial-intentions
Chaper 2....enterpreneurial-intentions
 
ENTREPRENEURSHIP PROCESS BCOM.pptx
ENTREPRENEURSHIP PROCESS BCOM.pptxENTREPRENEURSHIP PROCESS BCOM.pptx
ENTREPRENEURSHIP PROCESS BCOM.pptx
 
Entrepreneurship Chap 1
Entrepreneurship Chap 1Entrepreneurship Chap 1
Entrepreneurship Chap 1
 
Organizing A Business PPT
Organizing A Business PPTOrganizing A Business PPT
Organizing A Business PPT
 
Entrepreneurial Process
Entrepreneurial ProcessEntrepreneurial Process
Entrepreneurial Process
 
Entrpreneurial competencies
Entrpreneurial competenciesEntrpreneurial competencies
Entrpreneurial competencies
 
Biz dev presentation 5
Biz dev presentation 5Biz dev presentation 5
Biz dev presentation 5
 
42038536-Entrepreneurship-Full-notes.pptx
42038536-Entrepreneurship-Full-notes.pptx42038536-Entrepreneurship-Full-notes.pptx
42038536-Entrepreneurship-Full-notes.pptx
 
SNVM PPT1.pptx
SNVM PPT1.pptxSNVM PPT1.pptx
SNVM PPT1.pptx
 
Entrepreneurship development
Entrepreneurship developmentEntrepreneurship development
Entrepreneurship development
 
Entrepreneurship Development module I.pptx
Entrepreneurship Development module I.pptxEntrepreneurship Development module I.pptx
Entrepreneurship Development module I.pptx
 
Lecture 2.pptx
Lecture 2.pptxLecture 2.pptx
Lecture 2.pptx
 
Read attachedpages about 3-M and their approach to innovationRes.docx
Read attachedpages about 3-M and their approach to innovationRes.docxRead attachedpages about 3-M and their approach to innovationRes.docx
Read attachedpages about 3-M and their approach to innovationRes.docx
 
Chapter 1 concept and nature of entrepreneurship
Chapter 1 concept and nature of entrepreneurshipChapter 1 concept and nature of entrepreneurship
Chapter 1 concept and nature of entrepreneurship
 
Methods.pptx
Methods.pptxMethods.pptx
Methods.pptx
 
The Concept of Corporate Entrepreneurship - Intrapreneurship
The Concept of Corporate Entrepreneurship - IntrapreneurshipThe Concept of Corporate Entrepreneurship - Intrapreneurship
The Concept of Corporate Entrepreneurship - Intrapreneurship
 
Development.pptx
Development.pptxDevelopment.pptx
Development.pptx
 

Recently uploaded

MoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor PresentationMoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor Presentationbaron83
 
Developing Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursDeveloping Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursKaiNexus
 
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdf
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdfChicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdf
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdfSourav Sikder
 
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdfGraham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdfAnhNguyen97152
 
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessQ2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessAPCO
 
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John MeulemansBCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John MeulemansBBPMedia1
 
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdfTalent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdfCharles Cotter, PhD
 
Tata Kelola Bisnis perushaan yang bergerak
Tata Kelola Bisnis perushaan yang bergerakTata Kelola Bisnis perushaan yang bergerak
Tata Kelola Bisnis perushaan yang bergerakEditores1
 
Project Brief & Information Architecture Report
Project Brief & Information Architecture ReportProject Brief & Information Architecture Report
Project Brief & Information Architecture Reportamberjiles31
 
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...Brian Solis
 
Cracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxCracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxWorkforce Group
 
Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Lviv Startup Club
 
PDT 89 - $1.4M - Seed - Plantee Innovations.pdf
PDT 89 - $1.4M - Seed - Plantee Innovations.pdfPDT 89 - $1.4M - Seed - Plantee Innovations.pdf
PDT 89 - $1.4M - Seed - Plantee Innovations.pdfHajeJanKamps
 
Anyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyAnyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyHanna Klim
 
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...IMARC Group
 
Entrepreneurship & organisations: influences and organizations
Entrepreneurship & organisations: influences and organizationsEntrepreneurship & organisations: influences and organizations
Entrepreneurship & organisations: influences and organizationsP&CO
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access
 
7movierulz.uk
7movierulz.uk7movierulz.uk
7movierulz.ukaroemirsr
 
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdfAMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdfJohnCarloValencia4
 

Recently uploaded (20)

MoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor PresentationMoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor Presentation
 
Developing Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursDeveloping Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, Ours
 
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdf
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdfChicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdf
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdf
 
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdfGraham and Doddsville - Issue 1 - Winter 2006 (1).pdf
Graham and Doddsville - Issue 1 - Winter 2006 (1).pdf
 
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessQ2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
 
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John MeulemansBCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
 
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdfTalent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
 
Tata Kelola Bisnis perushaan yang bergerak
Tata Kelola Bisnis perushaan yang bergerakTata Kelola Bisnis perushaan yang bergerak
Tata Kelola Bisnis perushaan yang bergerak
 
Project Brief & Information Architecture Report
Project Brief & Information Architecture ReportProject Brief & Information Architecture Report
Project Brief & Information Architecture Report
 
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
 
Cracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxCracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptx
 
Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)
 
PDT 89 - $1.4M - Seed - Plantee Innovations.pdf
PDT 89 - $1.4M - Seed - Plantee Innovations.pdfPDT 89 - $1.4M - Seed - Plantee Innovations.pdf
PDT 89 - $1.4M - Seed - Plantee Innovations.pdf
 
Anyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyAnyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agency
 
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
 
Entrepreneurship & organisations: influences and organizations
Entrepreneurship & organisations: influences and organizationsEntrepreneurship & organisations: influences and organizations
Entrepreneurship & organisations: influences and organizations
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024
 
7movierulz.uk
7movierulz.uk7movierulz.uk
7movierulz.uk
 
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdfAMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
 

THE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND

  • 1. ENTREPRENEUR AND BUSINESS PLANNING Chapter 2: THE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND Prepared by: Prof. SEYED ALI FALLAHCHAY
  • 2. THE ENTREPRENEURIAL PROCESS The process of starting a new venture is embodied in the entrepreneurial process, which involves more than just problem solving in a typical management position. An entrepreneur must find, evaluate, and develop an opportunity by overcoming the forces that resist the creation of something new.
  • 3. Aspects of Entrepreneurial process The process has four distinct phase: 1) Identification and evaluation of the opportunity 2) development of the business plan, 3) determination of the required resources, and 4) management of the resulting enterprise.
  • 4. Identify and Evaluate the Opportunity Opportunity Identification and evaluation is a very difficult task. Most good business opportunities do not suddenly appear, but rather results from an entrepreneur’s alertness to possibilities or, in some cases, the establishment of mechanism that identify potential opportunities.
  • 5. Steps to identify and evaluate the opportunity • Opportunity assessment • Creation and length of opportunity • Real and perceived value of opportunity • Risk and returns of opportunity • Opportunity versus personal skills and goals • Competitive environment
  • 6. Develop a Business Plan A good business plan must be developed in order to exploit the defined opportunity. this is very time- consuming phase of the entrepreneurial process. A good business plan is essential to developing the opportunity and determining the resources required, obtaining those resources, and successfully managing the resulting venture.
  • 7. Steps to develop Business Plan • Title page • Table of contents • Executive Summary • Major Section • Appendixes 1. Description of Business 2. Description of Industry 3. Technology Plan 4. Marketing Plan 5. Financial Plan 6. Production Plan 7. Organization Plan 8. Operational Plan 9. Summary
  • 8. Determination of the required resources The resources needed for addressing the opportunity must also be determined. This process starts with an appraisal of the entrepreneur’s present resources. Any resources that are critical need to be differentiated from those that are just helpful. Care must be taken not to underestimate the amount and variety of resources needed. The downside risks associated with insufficient or inappropriate resources should also be assessed.
  • 9. Steps to Determine Resources Required • Determine resources needed. • Determine existing resources. • Identify resource gaps and available suppliers. • Develop access to needed resources.
  • 10. Manage the Enterprise After resources are acquired, the entrepreneur must use them to implement the business plan. The operational problems of the growing enterprise must also be examined. This involves implementing a management style and structure, as well as determining the key variables for success. A control system must be established, so that any problem areas can be quickly identified and resolved.
  • 11. Steps to Manage the Enterprise • Develop management style. • Understand key variables for success. • Identify problems and potential problems. • Implement control systems. • Develop growth strategy.
  • 12. Managerial Vs. Entrepreneurial decision making Five different dimensions between entrepreneurial decision making and managerial styles: • strategic orientation • commitment to opportunity • commitment of resources • control of resources • management structure Managerial styles are called the administrative domain. Administrative domain is the way manager make decisions.
  • 13. CAUSES FOR INTEREST IN INTRAPRENEURIALSHIP These differences in entrepreneurial and managerial domains have contributed toward an increased interest in intrapreneurship. This interest has intensified due to a variety of events occurring on social, cultural, and business levels. On a social level , there is an increasing interest in “doing your own thing” and doing it on one’s own terms. Individuals who believe strongly in their own talents frequently desire to create something of their own. They want responsibility and have a strong need for individual expression and freedom in their work environment.
  • 14. When this freedom is not there, frustration can cause that individual to become less productive or even leave the organization to achieve self-actualization elsewhere. The resistance against flexibility, growth, and diversification can, in part, can be overcome by developing a spirit of entrepreneurship within the existing organization, called intrapreneurship. An increase in intrapreneurship reflects on an increase in social, cultural, and business pressures.
  • 15. Corporate Vs. Intrapreneurial Culture Corporate Culture - is the environment of a particular organization. Shared values and norms: • Hierarchical in nature • Established procedures • Reporting systems • Line of authority and responsibility • Instructions • Control mechanism.
  • 16. Intrapreneurial culture - Is the environment of an entrepreneurial-oriented organization. Shared values and norms: • Flat organizational structure with networking • Team work • Sponsors • Mentors abounding Note: Close-working relationship help to establish an atmosphere of trust that facilitates the accomplishment of visions and objectives.
  • 17. Climate for Intrapreneurship • Organization operates on frontiers of technology • New ideas encouraged • Trial and error encouraged • Failures allowed • No opportunity parameters – barrier to new product creation and development • Resources available and accessible • Multi-discipline teamwork approach • Long-time horizon • Volunteer program • Appropriate reward system • Sponsors and champions available • Support of top management
  • 18. Intrapreneurial Leadership Characteristics • Understand the environment • Visionary and flexible • Creates management options • Encourages teamwork • Encourages open discussion • Build a collision of supporters • Persists
  • 19. Establishing Intrapreneurship in the Organization 1. To secure a commitment to intrapreneurship in the organization by top, upper, and middle management levels. 2. Ideas and general areas that top management are interested in supporting should be identified, along with the amount of risk money that is available to develop the concept further. 3. A company need to use technology to make it more flexible. 4. The organization should have a group of interested managers who will train employees as well as share their experiences.
  • 20. 5. The organization needs to develop ways to get closer to its customers. 6. An organization that want to become more intrapreneurial must learn to be more productive with fewer resources. 7. The organization needs to establish a strong support structure for intrapreneurialship. 8. Support must also involve trying the rewards to the performance of the intrapreneurial unit. 9. The organization need to implement an evaluation system that allows successful intrapreneurial unit to expand and unsuccessful ones eliminated. Establishing Intrapreneurship in the Organization