This presentation talks about evolution and revolution of entrepreneurship

1. P R O F V E N K A T E S H G A N A P A T H Y
A S S O C I A T E P R O F E S S O R ( M A R K E T I N G )
P R E S I D E N C Y B U S I N E S S S C H O O L ,
B A N G A L O R E .
A P R I L 1 9 T H , 2 0 2 0
Evolution and Revolution of
Entrepreneurship

2. EVOLUTION OF ENTREPRENEURSHIP
 Caveman invented the wheel for transportation
 Mediterranean traders sold commodities desired by
Greeks
 Roman entrepreneurs introduced open air markets
and covered shops – they hawked goods by the side
of the road
 Romans expanded their business to Roman military
camps selling items like food and clothing to soldiers

3. Renaissance Period (14th to 17th century)
 Entrepreneurs were involved in trade
 Exploration began
 Invention of printing press
 Literature and art flourished

4. Colonial times in US
 Newspapers, print shops
 Effective networking platforms for entrepreneurs
 These developments documented by Benjamin
Franklin

5. 1840 – Golden Age
 Gold provided a standard of value – notes could be
issued based on this standard
 Levi Strauss and other entrepreneurs did not lose
heart – they continued their mission
 Baldwin created flexible beam design that
transmitted power to three axles
 Number of banks doubled between 1834 and 1840
 Development of rail road systems (that needed huge
capital)
 Clear rules for entrepreneurs emerged

6. 1880s-1900s
 Tech savvy entrepreneurs
 Businesses based on electricity
 Thomas Edison turned his business into a big
corporation
 Women began selling clothes and started
demonstrating their business skills (1920s)

7. The next entrepreneurial evolution
 This happened in late 80’s and early 90’s
 Bill Gates
 Internet
 Dot com business started evolving
 2006 – Social media entrepreneurs are using the
Internet to reshape it to fit their business; these
entrepreneurs thrive on connectivity and social
media colloquialisms like Like, Tweet, Share.

8. REVOLUTION OF ENTREPRENEURSHIP
 Revolution to fix social and economic problems
 Entrepreneurs improve societies through growth,
innovation and social transformation
 Creative solution to problems
 Entrepreneurs – powerful agents of change (cultural)
that can transform societies
 Incorporation of social goals into entrepreneurs’
strategic thinking to maximize personal and
collective benefits

9. REVOLUTION (CONT’D)
 Entrepreneurs operate closer to people, are in a
perfect position to identify and tackle critical
problems like poverty, lack of access to health and
education.
 Incentives for employees to be innovative
(intrapreneurship)

10. What should entrepreneurs do?
 Create ventures that aim at economic prosperity and
social development
 Long term sustainability of their business enterprise
 Manage a fast growing organization
 Include social agenda as part of strategic plans
 Encourage employees to become entrepreneurs

11. How can entrepreneurs create value?
 Ensuring proper and efficient allocation of scarce
resources
 Mission
 Vision
 Objectives
 Strategies
 Actions

12. To summarize
 Entrepreneurship has evolved over the centuries
 Revolutionary impact – bring about a dramatic
transformation in societies and communities
 Entrepreneurship is a dynamic process of vision,
change and creation.
 Internet has fueled the growth of social
entrepreneurship