Entrepreneurs, Stay On Top Of The World by Prof Hans Crijns


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Entrepreneurs, Stay On Top Of The World by Prof Hans Crijns

  2. 2. © Vlerick Business School Today’s businesses, especially the large ones, simply will not survive in this period of rapid change and innovation unless they acquire entrepreneurial competences. Peter Drucker 1985 (!) AG - The Entrepreneurial Manager 2 200 5
  3. 3. © Vlerick Business School Bron: David Birch, MIT and Cognetics Inc., USA in ‘Dynamic Entrepreneurship in Central and Eastern Europe’, 1993. Job creation Job destruction Top 500 Big Small The economy as a thundercloud
  4. 4. © Vlerick Business School “Every morning in Africa, a gazelle wakes up. It knows it must run faster than the fastest lion or it will be killed. Every morning a lion wakes up. It knows it must run faster than the slowest gazelle or it will starve to death. It doesn’t matter whether you are a lion or a gazelle. When the sun comes up, you better start running”. - Thomas L. Friedman (in “The World Is Flat”) -
  5. 5. © Vlerick Leuven Gent Management School© Vlerick Leuven Gent Management School IMAGES OF “ENTREPRENEURSHIP”?
  6. 6. © Vlerick Business School ENTREPRENEURS ?
  7. 7. © Vlerick Business School What is in your view a « good» entrepreneur? Important characteristics? Conditions for a « good idea » ? 7
  8. 8. © Vlerick Business School ENTREPRENEURIAL ATTRIBUTES  Initiative  Strong persuasive powers  Moderate rather than high risk-taking ability  Flexibility  Creativity  Problem-solving ability  Need for achievement  Imagination  High belief in control of one’s own destiny  Leadership  Hard work  N° 1 Predicting value : ????
  9. 9. © Vlerick Business School9 (G.B. Shaw) “The reasonable man adapts himself to the world, the unreasonable one persists in trying to adapt the … to …. Therefore all progress depends on the …….. man”
  10. 10. © Vlerick Business School
  11. 11. © Vlerick Business School FAILURE? “The greatest glory in living lies not in never falling, but in rising every time we fall." (Nelson Mandela)
  12. 12. © Vlerick Business School How entrepreneurial is your organisation/company/business unit/department… ? 12 E.O. Perception “As is”?
  13. 13. © Vlerick Business School ENTREPRENEURSHIP AND MANAGEMENT 13 ENTREPRENEURSHIP MANAGEMENT Initial discovery Opportunity refinement Market making Resource acquisition (New) co- ordination of (new) resources Co-ordination of old resources/on- going activity Discovery process Exploitation process
  14. 14. © Vlerick Business School STRATEGY  ENTREPRENEURIAL ORIENTATION An entrepreneurial firm is one that engages in product-market innovation, undertakes somewhat risky ventures, and is first to come up with “proactive” innovations, beating competitors to the punch. A non-entrepreneurial firm is one that innovates very little, is highly risk averse, and imitates the moves of competitors instead of leading the way.  Entrepreneurial Orientation (EO) =  Risk Taking  Proactiveness  Innovativeness AG - The Entrepreneurial Manager14 Danny MILLER (Canada)
  15. 15. © Vlerick Business School INNOVATIVENESS “A willingness to introduce novelty through experimentation and creative processes aimed at developing new products and services as well as new processes” Your score : 1 low 2 medium 3 high
  16. 16. © Vlerick Business School PROACTIVENESS “A forward-looking perspective characteristic of a marketplace leader that has the foresight to seize opportunities in anticipation of future demand” Your score : 1 low 2 medium 3 high
  17. 17. © Vlerick Business School RISK TAKING “Making decisions and taking action without certain knowledge of probable outcomes; some undertakings may also involve making substantial resource commitments in the process of venturing forward” Your score : 1 low 2 medium 3 high
  18. 18. © Vlerick Business School LEO HEO Stable Reliable quality Secure Risk Averse Proven Track Record Continuous improvement Opportunistic Dynamic Out of the box Risk taking and sharing New challenges Drastic change LEO VS HEO
  19. 19. © Vlerick Business School INGREDIENTS OF E.O.  Imagination and creativity  Promoting creation, distribution and usage of knowledge  Supporting information and communication infrastructure  Social architecture  Under no circumstances will all innovations succeed!19
  20. 20. © Vlerick Business School External environment Ingredients of EO What does it require? Entrepreneurial orientation EO Performance
  21. 21. © Vlerick Business School WHAT DOES IT REQUIRE ? (LINK WITH PERFORMANCE !)  Devise a coherent strategic focus  Assessment of emerging entrepreneurial opportunities  Integration entrepreneurial pathways with existing activities  Timing of strategic decisions in line with environmental requirements ( = speed)  Excellence in project execution : 5% inspiration and 95% perspiration
  22. 22. © Vlerick Business School WANT TO KNOW MORE?  Executive Master Class in Innovation & Entrepreneurship (16 October 2013)  In search of new business opportunities (7 October 2013)  SME Challenge (3 February 2014)  SME Excellence (21 November 2013)