Entrepreneurial Behavior, interaction with effectuation @ samk, pori, Finland

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Slides of an interactive lecture in effectuation; theory and practice. Presented in the course Entrepreneurial Behavior @ SAMK university, pori, Finland for students in Toerism Management.

Slides of an interactive lecture in effectuation; theory and practice. Presented in the course Entrepreneurial Behavior @ SAMK university, pori, Finland for students in Toerism Management.

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  • 1. Entrepreneurial Behavior (theory and interactive practice on effectuation) Pori, 7 – 8 April 2014, Finland Ing. Matthijs H.M. Hammer M.Sc. Senior lecturer Entrepreneurship School of Business, Building & Technology PhD Researcher Faculty of Product Innovation Management
  • 2. • Short general introduction • Theory: • What is Entrepreneurship? • How to behave like them? • How to learn this? • Practice: • Casus: You! Menu
  • 3. About Saxion Universities Enschede ApeldoornDeventer
  • 4. Three locations in the eastern part of the country: • Enschede • Deventer • Apeldoorn Bridge position between the Netherlands and Germany
  • 5. Saxion University of Applied Sciences History as a Textile region
  • 6. Characteristics of Saxion: • Comprehensive university, predominantly undergraduate level • Focus on profession-oriented education through teaching & undergraduate research • Professional Masters’ programmes in key fields • Regional focus for all programmes, national profile in key fields • Quality education under public scrutiny and accreditation Public funding, History dates back to 1875 23,125 students, 2,232 faculty and staff 12 Schools, 6 research centres
  • 7. Schools and academic programs • School of Business Building & Technology • School of Governance & Law • School of Health • School of Applied Psychology and Human Resources Management • School of Social Work • School of Education • School of Creativity & Technology • School of Finance & Accounting • Hospitality Business School • School of Life Science, Engineering & Design • School of Marketing & International Management • School of Environmental Planning & Building 12 Schools: •125 Bachelor / Master programmes in Dutch. •27 Bachelor / Master international programmes in English. •Various Bachelor / Master programmes in German •Non-degree programmes
  • 8. Small Business & Retail Management • For the last 12 years continually chosen as the best Entrepreneurship program in the country. (Source: Studiegids Hoger Onderwijs Ministry of Education the Netherlands, 2011) • Voted in October 2009 as the best performing study program in the entire field of commerce/economy in The Netherlands (8.3 out of 10) (Source: Elsevier, october 2009)
  • 9. Winner of Dutch Wijnand Wijnen education award for most innovative university program concept. Small Business & Retail Management
  • 10. Winner of several innovation awards for student companies Small Business & Retail Management
  • 11. A kind question for you Do you want to co-operate in applied research on Entrepreneurship? Please fill-out the form provided. First part is about your thoughts on entrepreneurship Second part for statistical processing. Thank you.
  • 12. Task 1 Individual task, please do NOT co-operate! Take a blank piece of paper Take a pen Draw an entrepreneur
  • 13. results >99% human being Where from: >80% Man Where from: >80% Suite Where from: >80% Tie Where from: >80% Smiling / success
  • 14. Task 2 Please do co-operate now Make small groups Draw an entrepreneur
  • 15. Results 3 levels: • Items above personal level (common wealth / added value). • Items on personal level (happiness / lucky / good life) • Items below personal level (money/ office / factory)
  • 16. What is the item below?
  • 17. Prototyping + +
  • 18. Prototyping
  • 19. What is an entrepreneur?
  • 20. Prototyping • Object or pattern recognition (Matlin, 2002) • Combination of attributes associated with an object or pattern (Solso, 1999) Question? • What is a prototype of an business opportunity?
  • 21. Entrepreneurial process VALUE CREATION Opportunity recognition Opportunity preparation Opportunity exploitation (Shane & Venkataraman, 2000)
  • 22. Example See possibilities Tackle opportunities Know where to find it. Successful application
  • 23. VALUE CREATION Opportunity recognition Opportunity preparation Opportunity exploitation CTO/COO Culture Capital CFO Economic Capital CEO Strategic Capital CMO Social Capital Relates to knowledge, technology organization, culture, Relates to vision, mission Influence, power Relates to finance, cash flow, costs Relates to networks on multiple aggregation Levels in markets
  • 24. But remember….. Vision without Action Action without Vision Daydream Nightmare
  • 25. The Competent Egg Knowledge Application Behaviour Talent Source: N. Vloon, 2002 Structure Context
  • 26. What suites You? • What do You like? • What distinguishes You? • What is appreciated? Problem: You don´t know for yourself.
  • 27. Different ways of development Falcon Source: N. Vloon, 2002Goose
  • 28. Summery 1. Determine what your motivation is; what make you have fun. 2. Determine your relevant talents. 3. Determine what is your goal. 4. Create training activities in another professional context. 5. Do it! (with motivation and drive)
  • 29. Step up to Saxion. Effectuation (decision making heuristics learned by expert entrepreneurs in uncertain, disruptive situations) Matthijs Hammer, senior lecturer Entrepreneurship Source: Stuart Read, Professor of Marketing www.effectuation.org
  • 30. Step up to Saxion. Where to Start • Causal principles (blue) what is taught in business school • Effectual principles are always in red
  • 31. Step up to Saxion. • Means. The basis for decisions and new opportunities: – Who I am – What I know – Whom I know Where to Start • Goals. Given (based on predictions)
  • 32. Step up to Saxion. • Affordable Loss. Calculate downside potential and risk no more than you can afford to lose. Risk, Return and Resources • Expected Return. Calculate upside potential and pursue the (risk adjusted) best opportunity.
  • 33. Step up to Saxion. Partnership. Build your “future” together with customers, suppliers and even prospective competitors. Attitude Toward Others Competition. Set up transactional relationships with customers and suppliers.
  • 34. Step up to Saxion. 34 Surprise • Leverage Surprises. Surprises can present new opportunities. • Avoid Surprises.
  • 35. Step up to Saxion. Underlying Logic & What to Do To the extent we can predict the future, we can control it.  PLAN To the extent we can control the future, we don’t need to predict it.  CO-CREATE
  • 36. Step up to Saxion. Effectuation (decision making heuristics learned by expert entrepreneurs in uncertain, disruptive situations)
  • 37. Step up to Saxion.
  • 38. Step up to Saxion.
  • 39. Step up to Saxion.
  • 40. Step up to Saxion. Task 1. Make small groups. 2. Respond to the request: From the city of Pori you are asked to develop a brand new / innovative and low cost-risk toerism attraction, museum, park or concept. 3. Prepare a pitch of 1 minute.
  • 41. Thank You for your Attention