2. Entrepreneurship Defined
• Entrepreneurship—a way of thinking,
reasoning, and acting that is opportunity
obsessed, holistic in approach, and
leadership balanced for the purpose of
value creation and capture.
(This definition of entrepreneurship has evolved over the past three decades
from research by Jeffry A. Timmons at Babson College and the Harvard
Business School and has recently been enhanced by Stephen Spinelli, Jr.
former Vice Provost for Entrepreneurship and Global Management at Babson
College, and current President of Philadelphia University).
3. “Entrepreneurship is a MANAGEMENT
and LEADERSHIP STYLE that involves
PURSUING OPPORTUNITY without regard
to the RESOURCES CURRENTLY
CONTROLLED.”
- Gred Dees
4. Entrepreneurship is NOT just “Start-Ups Only”
• It includes companies and organizations
– All types
– At all stages
• Can occur and fail to occur
– In old and new firms
– Small and large firms
– Fast and slow growing firms
– Private, not-for-profit, and public sectors
– All geographic points
– All stages of a nation’s development
5. What is innovation?
• Schumpeter argued that innovation comes about
through new combinations made by an
entrepreneur, resulting in
– a new product,
– a new process,
– opening of new market,
– new way of organizing the business
– new sources of supply
