Yes you can! Entrepreneurship for people in a globalised world Dr Gideon Maas & Prof. Paul Hannon
Dr Gideon Maas• Co-Director Institute of Applied Entrepreneurship, Coventry University, UK• Field of speciality: Entrepreneurship and Family Businesses• International Business and Academic experience• Contact details: – E-mail: firstname.lastname@example.org – Tel: +44 (0) 7974 98 4434
Prof. Paul Hannon• Director of Research and Education, National Council for Graduate Entrepreneurship, UK• Visiting Professor Coventry University• Field of speciality: Entrepreneurship• International Business and Academic experience• Contact details: – E-mail: email@example.com – Tel: +44 (0) 121 380 3545
Going global or operating in a global environment?
Agenda• To de-mystify the concept "entrepreneurship“ – What is entrepreneurship? – Why is entrepreneurship so important within a global environment? – Can I be a global entrepreneur?• To identify challenges facing entrepreneurs within the current environment – What are the broad challenges facing entrepreneurs world-wide?• To identify ways people can improve their entrepreneurial abilities – How can I improve my entrepreneurial abilities?
The Enterprise Concept• Enterprising person – Personal skills + attributes + behavioural and motivation – Examples: intuitive decision making; make things happen autonomously; networking; initiative taking; opportunity recognition; strategic thinking; self-efficacy• Entrepreneurial mindset – Empathy with life-world of the entrepreneur and entrepreneurial waysSource: NCGE
The Entrepreneurship Concept• Application of enterprising skills in the context of – Setting up new ventures – Developing/growing an existing venture – Designing an entrepreneurial organisationSource: NCGE
The Innovation Concept• Product of enterprising and entrepreneurship concepts• Definition – Creating and exploiting of opportunities – For new ways of doing things – Resulting in better products and services, systems and ways of managing people• Success is a function of: – Individual enterprising behaviour – Entrepreneurial organisation capacity
Can I be an entrepreneur?• Born like this?• Educated like this?• I am not from a family business, what chance do I have to be entrepreneurial?• Really, do I need to be like this?
Why is entrepreneurship so important currently?• Individual and Country growth• 85% of the fastest growing technology companies and 70% of the fastest growing private companies were founded by graduates during 2008 in the UK!
What are the broad challenges facing entrepreneurs world-wide?• Fast changes – more innovation and increased complexity• Knowledge environment• More or less jobs?• Focus on smaller companies• Diverse nature of entrepreneurs• Influence of technology• Regional changes e.g. Creation of new industries
Cultural determinants• Religion• Political philosophy• Economic philosophy• Education• Manners and customs• Language• Social structureHisrich 2010
How can I improve my entrepreneurial ability personally?• Know yourself! – What are your strengths and weaknesses as entrepreneur?• Aligning visions: personal + family + business – Strategic break-away with yourself!• Inside-out and Outside-in thinking – Travel, balanced networks• Be passionate – Celebrate successes and failures! – Be emotionally involved!
How can I improve my entrepreneurial ability within the organisation?• Effective use of technology – Competitive advantage or cost?• Know your employees – They are better than what you think!• Know the value you are offering – Adding value or just impressing yourself?• Budget for innovation – What percentage are you spending on innovation?
Where can I find help?• Institute of Applied Entrepreneurship• Tel: +44 (0) 24 76236001• www.coventry.ac.uk/entrepreneurship
Thank you!In order to stimulate entrepreneurship we need to be entrepreneurial ourselves!