Innovation and Entrepreneurship Becoming a Systematic Entrepreneur? Dr. Lynn Martin Professor of Entrepreneurship &  Direc...
The Centre for Enterprise at MMU Business School  <ul><li>We exist to create and exchange knowledge in  enterprise, entrep...
Entrepreneurship as a Process <ul><li>Opportunity identification </li></ul><ul><li>Opportunity development/review </li></u...
Opportunity and You “ Entrepreneurship involves the nexus of two phenomena: the presence of lucrative opportunities and th...
A Resource-Based Process <ul><li>Entrepreneurship requires resources </li></ul><ul><ul><li>Human capital (knowledge and sk...
Opportunities are … <ul><ul><li>Chances to make money by organising current/new resources in a profitable way </li></ul></...
Thought to Take Away How can you be more systematic about your entrepreneurial process? What sorts of new partnerships cou...
Opportunity Alertness  A Practical Framework <ul><li>Get motivated </li></ul><ul><ul><li>Commit to being alert </li></ul><...
Opportunity Review  A Practical Framework <ul><li>Create a systematic list of questions to ask about each opportunity </li...
Opportunity Exploitation <ul><li>Develop the  dynamic capability  to organise resources to successfully exploit opportunit...
The Centre for Enterprise at MMU Business School  Any Questions?  Thank you www.mmucfe.co.uk
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Becoming a Systematic Entrepreneur?

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  • Hello. It’s fantastic to be here – thank you all for coming. Today I want to talk to you about being an entrepreneur. I want to talk to you about that “entrepreneurship” word and then I want to work with you on the new idea of entrepreneurship as a process of identifying, developing and exploiting opportunity. Today is an opportunity for you to reflect on your own entrepreneurial process, possibly in a completely new way and to think about whether you are – or could be – an entrepreneur. With any luck, you will leave today with some new ideas about processes you can implement that can make your business more alert to opportunity and more able to review or develop opportunities, whether or not you want to take on that entrepreneurship label. We are all going to work hard this morning, and I hope to learn from you about your entrepreneurial process. I hope that you will learn from some of the ideas I am bringing and that you will also learn from one another. Oh, and I hope we will have some fun too!
  • Hello. It’s fantastic to be here – thank you all for coming. Today I want to talk to you about being an entrepreneur. I want to talk to you about that “entrepreneurship” word and then I want to work with you on the new idea of entrepreneurship as a process of identifying, developing and exploiting opportunity. Today is an opportunity for you to reflect on your own entrepreneurial process, possibly in a completely new way and to think about whether you are – or could be – an entrepreneur. With any luck, you will leave today with some new ideas about processes you can implement that can make your business more alert to opportunity and more able to review or develop opportunities, whether or not you want to take on that entrepreneurship label. We are all going to work hard this morning, and I hope to learn from you about your entrepreneurial process. I hope that you will learn from some of the ideas I am bringing and that you will also learn from one another. Oh, and I hope we will have some fun too!
  • Hello. It’s fantastic to be here – thank you all for coming. Today I want to talk to you about being an entrepreneur. I want to talk to you about that “entrepreneurship” word and then I want to work with you on the new idea of entrepreneurship as a process of identifying, developing and exploiting opportunity. Today is an opportunity for you to reflect on your own entrepreneurial process, possibly in a completely new way and to think about whether you are – or could be – an entrepreneur. With any luck, you will leave today with some new ideas about processes you can implement that can make your business more alert to opportunity and more able to review or develop opportunities, whether or not you want to take on that entrepreneurship label. We are all going to work hard this morning, and I hope to learn from you about your entrepreneurial process. I hope that you will learn from some of the ideas I am bringing and that you will also learn from one another. Oh, and I hope we will have some fun too!
  • Hello. It’s fantastic to be here – thank you all for coming. Today I want to talk to you about being an entrepreneur. I want to talk to you about that “entrepreneurship” word and then I want to work with you on the new idea of entrepreneurship as a process of identifying, developing and exploiting opportunity. Today is an opportunity for you to reflect on your own entrepreneurial process, possibly in a completely new way and to think about whether you are – or could be – an entrepreneur. With any luck, you will leave today with some new ideas about processes you can implement that can make your business more alert to opportunity and more able to review or develop opportunities, whether or not you want to take on that entrepreneurship label. We are all going to work hard this morning, and I hope to learn from you about your entrepreneurial process. I hope that you will learn from some of the ideas I am bringing and that you will also learn from one another. Oh, and I hope we will have some fun too!
  • Hello. It’s fantastic to be here – thank you all for coming. Today I want to talk to you about being an entrepreneur. I want to talk to you about that “entrepreneurship” word and then I want to work with you on the new idea of entrepreneurship as a process of identifying, developing and exploiting opportunity. Today is an opportunity for you to reflect on your own entrepreneurial process, possibly in a completely new way and to think about whether you are – or could be – an entrepreneur. With any luck, you will leave today with some new ideas about processes you can implement that can make your business more alert to opportunity and more able to review or develop opportunities, whether or not you want to take on that entrepreneurship label. We are all going to work hard this morning, and I hope to learn from you about your entrepreneurial process. I hope that you will learn from some of the ideas I am bringing and that you will also learn from one another. Oh, and I hope we will have some fun too!
  • Hello. It’s fantastic to be here – thank you all for coming. Today I want to talk to you about being an entrepreneur. I want to talk to you about that “entrepreneurship” word and then I want to work with you on the new idea of entrepreneurship as a process of identifying, developing and exploiting opportunity. Today is an opportunity for you to reflect on your own entrepreneurial process, possibly in a completely new way and to think about whether you are – or could be – an entrepreneur. With any luck, you will leave today with some new ideas about processes you can implement that can make your business more alert to opportunity and more able to review or develop opportunities, whether or not you want to take on that entrepreneurship label. We are all going to work hard this morning, and I hope to learn from you about your entrepreneurial process. I hope that you will learn from some of the ideas I am bringing and that you will also learn from one another. Oh, and I hope we will have some fun too!
  • Hello. It’s fantastic to be here – thank you all for coming. Today I want to talk to you about being an entrepreneur. I want to talk to you about that “entrepreneurship” word and then I want to work with you on the new idea of entrepreneurship as a process of identifying, developing and exploiting opportunity. Today is an opportunity for you to reflect on your own entrepreneurial process, possibly in a completely new way and to think about whether you are – or could be – an entrepreneur. With any luck, you will leave today with some new ideas about processes you can implement that can make your business more alert to opportunity and more able to review or develop opportunities, whether or not you want to take on that entrepreneurship label. We are all going to work hard this morning, and I hope to learn from you about your entrepreneurial process. I hope that you will learn from some of the ideas I am bringing and that you will also learn from one another. Oh, and I hope we will have some fun too!
  • Hello. It’s fantastic to be here – thank you all for coming. Today I want to talk to you about being an entrepreneur. I want to talk to you about that “entrepreneurship” word and then I want to work with you on the new idea of entrepreneurship as a process of identifying, developing and exploiting opportunity. Today is an opportunity for you to reflect on your own entrepreneurial process, possibly in a completely new way and to think about whether you are – or could be – an entrepreneur. With any luck, you will leave today with some new ideas about processes you can implement that can make your business more alert to opportunity and more able to review or develop opportunities, whether or not you want to take on that entrepreneurship label. We are all going to work hard this morning, and I hope to learn from you about your entrepreneurial process. I hope that you will learn from some of the ideas I am bringing and that you will also learn from one another. Oh, and I hope we will have some fun too!
  • Hello. It’s fantastic to be here – thank you all for coming. Today I want to talk to you about being an entrepreneur. I want to talk to you about that “entrepreneurship” word and then I want to work with you on the new idea of entrepreneurship as a process of identifying, developing and exploiting opportunity. Today is an opportunity for you to reflect on your own entrepreneurial process, possibly in a completely new way and to think about whether you are – or could be – an entrepreneur. With any luck, you will leave today with some new ideas about processes you can implement that can make your business more alert to opportunity and more able to review or develop opportunities, whether or not you want to take on that entrepreneurship label. We are all going to work hard this morning, and I hope to learn from you about your entrepreneurial process. I hope that you will learn from some of the ideas I am bringing and that you will also learn from one another. Oh, and I hope we will have some fun too!
  • Hello. It’s fantastic to be here – thank you all for coming. Today I want to talk to you about being an entrepreneur. I want to talk to you about that “entrepreneurship” word and then I want to work with you on the new idea of entrepreneurship as a process of identifying, developing and exploiting opportunity. Today is an opportunity for you to reflect on your own entrepreneurial process, possibly in a completely new way and to think about whether you are – or could be – an entrepreneur. With any luck, you will leave today with some new ideas about processes you can implement that can make your business more alert to opportunity and more able to review or develop opportunities, whether or not you want to take on that entrepreneurship label. We are all going to work hard this morning, and I hope to learn from you about your entrepreneurial process. I hope that you will learn from some of the ideas I am bringing and that you will also learn from one another. Oh, and I hope we will have some fun too!
  • Hello. It’s fantastic to be here – thank you all for coming. Today I want to talk to you about being an entrepreneur. I want to talk to you about that “entrepreneurship” word and then I want to work with you on the new idea of entrepreneurship as a process of identifying, developing and exploiting opportunity. Today is an opportunity for you to reflect on your own entrepreneurial process, possibly in a completely new way and to think about whether you are – or could be – an entrepreneur. With any luck, you will leave today with some new ideas about processes you can implement that can make your business more alert to opportunity and more able to review or develop opportunities, whether or not you want to take on that entrepreneurship label. We are all going to work hard this morning, and I hope to learn from you about your entrepreneurial process. I hope that you will learn from some of the ideas I am bringing and that you will also learn from one another. Oh, and I hope we will have some fun too!
  • Becoming a Systematic Entrepreneur?

    1. 1. Innovation and Entrepreneurship Becoming a Systematic Entrepreneur? Dr. Lynn Martin Professor of Entrepreneurship & Director - Centre for Enterprise, MMU
    2. 2. The Centre for Enterprise at MMU Business School <ul><li>We exist to create and exchange knowledge in enterprise, entrepreneurship and innovation </li></ul><ul><li>Full programme of academic research </li></ul><ul><li>Entrepreneurial leadership expertise </li></ul><ul><li>New “ Tea with the Prof” TM Series </li></ul>
    3. 3. Entrepreneurship as a Process <ul><li>Opportunity identification </li></ul><ul><li>Opportunity development/review </li></ul><ul><li>Opportunity exploitation </li></ul><ul><li>Includes multiple feedback loops </li></ul>
    4. 4. Opportunity and You “ Entrepreneurship involves the nexus of two phenomena: the presence of lucrative opportunities and the presence of enterprising individuals” (Venkataraman, 1997).
    5. 5. A Resource-Based Process <ul><li>Entrepreneurship requires resources </li></ul><ul><ul><li>Human capital (knowledge and skills – including entrepreneurial capital) </li></ul></ul><ul><ul><li>Social capital (networks) </li></ul></ul><ul><ul><li>Financial capital (money and goods) </li></ul></ul><ul><li>My definition </li></ul><ul><ul><li>Entrepreneurship is the innovative combination of resources to identify, develop and exploit opportunities </li></ul></ul>
    6. 6. Opportunities are … <ul><ul><li>Chances to make money by organising current/new resources in a profitable way </li></ul></ul><ul><ul><li>Chances to fulfill non-economic motivations </li></ul></ul><ul><ul><li>Path dependent </li></ul></ul><ul><ul><ul><li>Contextual to your organisation </li></ul></ul></ul><ul><ul><ul><li>Part of a range of alternatives </li></ul></ul></ul><ul><ul><li>Part of a chain </li></ul></ul>
    7. 7. Thought to Take Away How can you be more systematic about your entrepreneurial process? What sorts of new partnerships could you draw value from?
    8. 8. Opportunity Alertness A Practical Framework <ul><li>Get motivated </li></ul><ul><ul><li>Commit to being alert </li></ul></ul><ul><ul><li>Be clear about your motivations, strategy, values </li></ul></ul><ul><ul><li>Position yourself as able to consider bigger opportunities via partnerships </li></ul></ul><ul><li>Increase your resources </li></ul><ul><ul><li>Raise your exposure to the best information </li></ul></ul><ul><li>Systematise your process of gathering information </li></ul><ul><ul><li>Notice/value your own and other’s information </li></ul></ul><ul><ul><li>Take time to link yours and other’s information </li></ul></ul>
    9. 9. Opportunity Review A Practical Framework <ul><li>Create a systematic list of questions to ask about each opportunity </li></ul><ul><li>Create systematic processes for sharing/debating the answers with trusted partners </li></ul><ul><ul><li>Multi-media </li></ul></ul><ul><ul><li>Regular meetings, coffees, lunch </li></ul></ul>
    10. 10. Opportunity Exploitation <ul><li>Develop the dynamic capability to organise resources to successfully exploit opportunities </li></ul><ul><li>Review and edit: </li></ul><ul><li>Your resources </li></ul><ul><li>Your dynamic capability to access/organise resources around opportunities </li></ul>
    11. 11. The Centre for Enterprise at MMU Business School Any Questions? Thank you www.mmucfe.co.uk
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