This document discusses entrepreneurship and the various perspectives and schools of thought regarding entrepreneurship. It defines entrepreneurs as individuals who recognize opportunities, convert them into marketable ideas through investment of time, effort, money and skills, and assume risks in commercializing innovations. The document explores how entrepreneurs have evolved over time and influenced economic and technological changes. It also examines different types of entrepreneurs and the various pathways one can take to pursue entrepreneurship.
This topic is related to Business, which is Entrepreneurship development. It can refer by any technical & Management students. It is useful for B.Tech and MBA students under BPUT Syllabus 2014
This topic is related to Business, which is Entrepreneurship development. It can refer by any technical & Management students. It is useful for B.Tech and MBA students under BPUT Syllabus 2014
Examine the concepts of the social entrepreneur and the social business
Explore the mind-set of social entrepreneurs
Introduce the concept of ecopreneurship
Define the term ethics and the implications for entrepreneurs
Examine environmental crime and its temptations for entrepreneurs
Examine cross-cultural concepts of ethics and corruption
Examine the ethics of criminal entrepreneurs and their similarities to other entrepreneurs
Focus on the challenges that face disadvantaged entrepreneurs
Introduction to entreprenershipunit i to vanandmohandass
Introduction, Meaning Characteristics, Factors, Functions, Types, Challenges, Women Entrepreneurship, MSMEs, Business Plan & Model, Feasibility analysis, etc..
Examine the concepts of the social entrepreneur and the social business
Explore the mind-set of social entrepreneurs
Introduce the concept of ecopreneurship
Define the term ethics and the implications for entrepreneurs
Examine environmental crime and its temptations for entrepreneurs
Examine cross-cultural concepts of ethics and corruption
Examine the ethics of criminal entrepreneurs and their similarities to other entrepreneurs
Focus on the challenges that face disadvantaged entrepreneurs
Introduction to entreprenershipunit i to vanandmohandass
Introduction, Meaning Characteristics, Factors, Functions, Types, Challenges, Women Entrepreneurship, MSMEs, Business Plan & Model, Feasibility analysis, etc..
Business Without Borders: The Global and Social Evolution of EntrepreneurshipAubia Communications
A case study in how expatriate and location-agnostic entrepreneurs implement social media and multicultural communications strategies into innovative business models.
The 4 types of ENTREPRENEUR who will save our WorldStephanie Vilner
Content shared at the G20 YES Young Entrepreneur Summit in Mexico, 2012 with 400 young changemakers representing the World
If you don't have these four entrepreneurial types working for your brand or company or advising in some capacity, perhaps question 'why not'?
Any questions? Very happy to answer them @stephanievilner
Introduction to Management - Meaning, Nature, Scope, Levels of ManagementSumit Sharaf
Introduction & Definition of Management
Components of Management
Features of Management
Functions of Management
Level of Management
Management and Administration
Management as Profession
Significance of Management from the point of view of Modern Business Operations.
Uncovering and understanding your deeper motives is the first step toward becoming a successful entrepreneur or discovering that you are not cut out for its punishing demands -- the personal sacrifices, inevitable setbacks, relentless work, crushing time pressure, financial uncertainty and sleepless nights faced by 99 percent of entrepreneurs.
Derek Lidow, a veteran entrepreneur, author of Startup Leadership, and a professor in Entrepreneurship at Princeton University, provides a roadmap for determining your entrepreneur type.
Is a process of identifying and starting a business venture, sourcing and organizing the required resources and taking both the risks and rewards associated with the venture.
Frederick, H.H. (2018). ‘The emergence of biosphere entrepreneurship: are social and business
entrepreneurship obsolete?’, Int. J. Entrepreneurship and Small Business, Vol. 34, No. 3, pp.381–419.
To define a sustainable business plan and demonstrate its value
To describe the benefits of a business plan
To set forth the viewpoints of those who read a business plan
To understand the mind-set of your five-minute reader
To see a complete outline of an effective business plan
To present some helpful hints for writing an effective business plan
To highlight points to remember in the presentation of a business plan
To underline some of the contrarian viewpoints on the importance of a business plan
To distinguish between the two kinds of performance measurement and their importance/relevance to entrepreneurs
To explain the principal financial statements needed for any entrepreneurial venture – the balance sheet, income statement and cash-flow statement
To outline the process of preparing an operating budget
To discuss the nature of cash flow and to explain how to draw up such a document
To explain how capital budgeting can be used in the decision-making process
To illustrate how to use break-even analysis
To describe ratio analysis and illustrate the use of some of the important measures and their meanings
To understand the importance of triple bottom line accounting
To appreciate the diversity of environmental accounting
To be able to distinguish among the five forms of entrepreneurial capital
To consider how to attract financing from your family and how to bootstrap a business
To identify how informal investors differ from other parts of the funding community
To differentiate between debt and equity as methods of financing
To examine commercial loans, social lending and public stock offerings as sources of capital
To understand the stages of venture investing
To study the market for venture capital and to review venture capitalists’ evaluation criteria for new ventures
To discuss the importance of evaluating venture capitalists for a ‘best fit’ selection
To discuss private placements as an opportunity for equity capital
To examine the business angel market
To describe new forms of entrepreneurial capital beyond financial capital
To be familiar with Islamic finance and micro-credit
To understand the criteria used by impact investors
To appreciate the need for raising natural capital as part of an entrepreneurial venture.
To introduce the importance of legal and regulatory issues to entrepreneurs
To consider the regulatory environments of the Asia–Pacific within which a new venture must exist
To examine intellectual property protection, including copyright, patents, trademarks and domain names
To recognise the important international protection regimes for intellectual property
To critically examine the IP practices of Asia–Pacific countries
To compare the common legal forms of business organisation in the Asia–Pacific, such as sole proprietorship, partnership and corporation
To be aware of the signals that foreshadow insolvency and bankruptcy
To examine the trend for environmental regulations that will affect business entrepreneurship
This chapter has a broad remit in considering the four types of legal and regulatory challenges that entrepreneurs will face in the Asia–Pacific region. We begin with a look at the various regulatory regimes that make up ease of doing business, from starting a company to closing it down. We then examine one of the most critical aspects for entrepreneurs: how to protect your intellectual property. Equally important is to then consider under what legal form to incorporate the firm. Finally, we look at regulations concerning climate change and global warming, regulations that are becoming increasingly troublesome for entrepreneurs. In typical legalistic style, we do need to note that the Asia–Pacific region includes many different countries and the scope of this text is limited to general knowledge. For specific information on legal matters particular to a country and your venture always seek the advice of appropriately qualified professional persons knowledgeable about the jurisdiction of your operations.
To introduce strategic design for an entrepreneurial venture
To discuss some of the reasons why entrepreneurs do not carry out strategic planning
To outline entrepreneurial strategy and some benefits of strategic planning
To examine the transition from an entrepreneurial style to a managerial approach
To discuss the five stages of a typical venture life cycle
To identify key management issues occurring during the growth stages
To introduce the steps useful for breaking through the growth wall
To identify the unique managerial concerns with a growth business
To elaborate the concept of entrepreneurial leadership
To outline ways to incorporate sustainability into business strategy
To appreciate the context of entrepreneurial marketing as distinct to traditional marketing
To examine the entrepreneurial marketing concept – philosophy and consumer orientation
To establish the areas vital to a marketing plan
To establish the concept and need for customer segmentation
To identify the key elements of an effective market survey
To outline the processes and entrepreneurial tactics in marketing esearch
To examine marketing on the internet and the emerging use of social media and mobile marketing for entrepreneurial firms
To differentiate green marketing from traditional marketing practice
To discuss the key features of a pricing strategy and how customisation influences the perception of price by the customer
To understand that assessing an opportunity requires various techniques including both analysis and active learning
To distinguish Internet opportunities from other opportunities
To recognise common pitfalls in taking new venture ideas to the marketplace
To identify critical factors involved in new venture development
To examine the opportunity landscape and the factors that underlie and promote entrepreneurial opportunities
To assess industry value chains and ecosystems from an opportunity perspective
To examine Porter’s five forces model of competitive market analysis
To compare opportunity profile analysis methods: critical questions analysis, feasibility criteria approach and comprehensive feasibility method
To be alert to how an entrepreneurial ecosystem contributes to the opportunity landscape
To describe the importance of family businesses in the Asia–Pacific and their unique problems
To discuss the concept of transgenerational entrepreneurship and its differences in mind-set and context
To explore the unique types of family capital
To examine some of the hallmarks of family entrepreneurship across our region
To depict family entrepreneurship as three sometimes conflicting but overlapping systems
To explore the ways that climate change and family entrepreneurship may be interrelated
To examine the problems as well as the key factors in management succession
To explain the steps involved in carrying out a succession plan
To understand the contextual aspects toward developing a succession strategy
To examine the harvest strategy for reaping the value of family business through trade sale
To explore how ideas fit within the opportunity identification process
To define and illustrate the sources of opportunity for entrepreneurs
To identify the four models of market opportunity: competition, innovation, alertness and social need
To examine the role of creativity and to review the major components of the creative process: knowledge accumulation, incubation process, idea evaluation and implementation
To present ways of developing personal creativity: recognise relationships, use lateral thinking, use your ‘brains’, think outside the box, identify arenas of creativity and work in creative climates
To introduce how innovation can inspire opportunity through invention, extension, duplication and synthesis
To review some of the major misconceptions associated with innovation and to define the 10 principles of innovation
To consider the challenges and changing dynamics of social and sustainability innovation
To describe the major pathways that may lead to entrepreneurial ventures
To examine bootstrapping and minipreneurship as fast lanes to gaining entrepreneurial experience
To identify and discuss what is involved in acquiring an established venture that already has some entrepreneurial momentum
To outline key questions to ask when buying an ongoing venture that is already generating value
To define a franchise and outline its structure
To examine the benefits and drawbacks of franchising
To look at the route social entrepreneurs take to creating new ventures
To appreciate the role of entrepreneurship in challenging and urgent times
To classify the types of climate change effects on entrepreneurs as well as the opportunities hat arise within the Asia–Pacific context
To review important concepts in climate change economics that impact entrepreneurial activity
To appreciate the various emerging frameworks in entrepreneurial ecology
Winner, Best Paper, United States Assoc. for Small Business & Entrepreneurship, usasbe.org Philadelphia 2017. Abstract: Entrepreneurial activity may be inconsistent with the need to conserve the planet and prevent environmental damage. This article provides the theoretical basis for Biosphere Entrepreneurship, which goes beyond business and social entrepreneurship. It theoretically justifies entrepreneurial activity that adds value to Earth. Extending the work of Kuratko, Morris, and Schindehutte on ontological frameworks (2000; 2001; 2015), we combine entrepreneurship, climate change economics, and sustainability research in an attempt to build a theoretical base for biosphere entrepreneurship. In the Implications, we ask, what can educators do to help biosphere entrepreneurs address the existential and catastrophic risks facing humanity?
Executive Summary: This article combines entrepreneurship research with climate economics and sustainability to build a new theory of biosphere entrepreneurship. Going beyond business and social entrepreneurship, which add value to private and community domains, respectively, biosphere entrepreneurship is entrepreneurial activity that adds value to the biosphere and ecosystem services.
The purpose of this article is to devise mental models (frameworks) relating entrepreneurship and climate change to facilitate theory-building. Using images and visual depictions, the article envisions a theoretical model of entrepreneurial ecology or biosphere entrepreneurship showing how the Earth, humanity, and the economy are connected through negative entrepreneurship and positive entrepreneurship. It extends extant frameworks-- entrepreneurial risk and survival frameworks; financial and capital frameworks; entrepreneurial growth frameworks; business model frameworks; socio-cultural frameworks; and entrepreneurial opportunity frameworks—to theoretically justify entrepreneurial activity that adds value to Earth.
The article uses entrepreneurship ontology in the tradition of Kuratko, Morris, and Schindehutte (2000; 2001; 2015) to describe phenomena in a way to identify and classify concepts and relationships about which increasingly are reaching consensus. The purpose is to use ontological framework analysis to convert abstraction into order, prioritize variables, and identify relationships within a new field of biosphere entrepreneurship. We seek candidate frameworks combining the domains of entrepreneurship, climate economics, and sustainability to expand a theory of biosphere entrepreneurship.
The article concludes with implications for entrepreneurship education. If biosphere truly go beyond business entrepreneurs seeking private gain, and social entrepreneurs adding value to social communities, what are educators doing to help our young entrepreneurs see climate change as market failure, identify market opportunities, and come to grips with existential and catastrophic risk?
IN SPANGLISH. Escritura emprendedora de libros de texto para las nuevas generaciones. Presentation to Simposio de Educación e Investigación en Emprendimiento INCmty 18 Nov 2015. Rationale for publishing a Spanish-language version for a fully integrated entrepreneurship teaching method. Update on the “Tec Method” from my perspective. Problems that we face in teaching entrepreneurship. Who are these strange people in our classes? What are the problems that we face teaching student entrepreneurs? ¿Cómo aliviaríamos las frustraciones y les daría los beneficios al maestro, al estudiante, y a la institución? Una “proposición del valor” de entrepreneurship textbook writing para aliviar las frustraciones y dar los beneficios al maestro, al estudiante, y a la institución. Adaptation of the famous Kuratko text to Latin American circumstances.
El emprendimiento como si el planeta importara / Entrepreneurship as if the p...Tecnológico de Monterrey
¿Qué diablos tiene el cambio climático que ver con el espíritu emprendedor? ¿Por qué les importa la planeta a los emprendedores? Los emprendedores deben tomar una gran parte de la responsabilidad del calentamiento global, también son agentes del cambio que pueden ayudar a solucionar la situación. If you want the English version, contact me.
In this slide set in Spanish, I present the seven principal lessons of Steven Jobs about how to form an entrepreneurial team using Herrmann Brain Dominance Instrument. // En este juego de diapositivas en español, presento las siete lecciones principales de Steven Jobs sobre cómo formar un equipo emprendedor que usa el Herrmann Brain Dominance Instrument. Presented 3 September 2015 at EmprendiendoMX // Entrepreneuring a la Mexicana in front of one thousand entrepreneurship students at the Monterrey Institute of Technology, Puebla, Mexico
This is a lecture that Drs Howard & Hanna Frederick of Mamor Chocolates gave to the graduate student class “Sensory Analysis and Practice” at the University of Melbourne on 18 Feb 2015. Its topics are:
History of chocolate and cocoa
How chocolate is produced
Cocoa in the Pacific Island of Samoa
Science of Cocoa Fermentation
Emotions in Chocolate
Trends in Chocolate in Australia today
Chemistry of Chocolate
Sensory Analysis of Chocolate
Chocolate Tasting Wheels
Wine and Chocolate paring
Rushworth (2009) has argued that the desired outcome of an entrepreneurship education program is not just that students show know things but they should be able to do things. This is another word for ‘capability’ (Stephenson, 1998) – ‘Capability depends much more on our confidence that we can effectively use and develop our skills in complex and changing cir-cumstances than on our mere possession of those skills. Our learners become capable people who have confidence in their ability to take action; explain what they are about; and continue to learn from their experiences.
Bloom's (1956) widely used Taxonomy classifies learning objectives into three 'domains': Cognitive, Affective and Psychomotor (sometimes loosely described as knowing/head, feel-ing/heart and doing/hands respectively). Within the domains, learning at the higher levels is dependent on having attained prerequisite knowledge and skills at lower levels.
How does this apply to teaching entrepreneurs? The problem is that Bloom does not distin-guish well between knowing how to and being able to. 'Knowledge . . . involves the recall of specifics and universals, the recall of methods and processes, or the recall of a pattern, structure or setting (Bloom, 1956, p. 201). Students may be able to compare, analyse, classify and categorise but this does not mean they have the confidence to act in the real world.
Rushworth (2011) believes that a more useful taxonomy for the teaching of capability is Fink’s taxonomy of significant learning (L. Dee Fink, 2003; L.D. Fink, 2003). Whereas Bloom’s taxonomy focuses on mastery of content, Fink’s focuses on application, relationships and on the process of learning.
We agree with Rushworth (2011), who says that entrepreneurship education should:
• be grounded in evidence-based theory (Fiet)
• aim at embedding capability rather than knowledge (Stephenson)
• teach through experiential learning (Kolb)
• teach in the form of significant learning experiences (Fink)
• apply theoretical concepts to problems students expect to encounter in practice (Fiet)
• ideally involving students in the design of these activities (Boyatzis, Cowen, & Kolb, 1995)
Bibliography
Bloom, B. S. (1956). Taxonomy of educational objectives; the classification of educational goals (1st ed.). New York,: Longmans, Green.
Boyatzis, R. E., Cowen, S. S., & Kolb, D. A. (1995). Innovation in professional education : steps on a journey from teaching to learning : the story of change and invention at the Weatherhead School of Management (1st ed.). San Francisco: Jossey-Bass Publishers.
Fink, L. D. (2003). Creating significant learning experiences : an integrated approach to de-signing college courses (1st ed.). San Francisco, Calif.: Jossey-Bass.
Fink, L. D. (2003). A self-directed guide to designing courses for significant learning, 28, from http://www.cccu.org/filefolder/A_Self-Directed_Guide_to_Designing_Courses_for_Significant_Learning.pdf
Rushwo
Two entrepreneurs (Henry Ford and Thomas Edison) 'caused' part of Earth’s precarious climate today by accelerating our dependence on fossil fuels. Our hope is that it will be an en-trepreneur – perhaps one that develops the hydrogen-powered automobile – who will save it.
Business educators have the opportunity to create a cohort of moral, ethical and sustainable entrepreneurs who can solve the world’s major problems. Gifford Pinchot once rightly pointed out, 'Business is the dominant institution of our time. It’s also the biggest leverage point.'
Another way of saying this is that without business, we cannot save the planet, and without saving the planet there can be no business.
It is time to create a cohort of gaiapreneurs (after the Greek goddess of Earth, Gaia), whom I define as 'marked by imagination, initiative and readiness to undertake projects to save the planet'.
Ours is an Asia-Pacific approach to teaching sustainability entrepreneurship based on the inter-disciplinarity of entrepreneurship. There are many 'entrepreneurships' (with an emphasis on the plural). Business entrepreneurship is well known. Science and engineering entre-preneurship probably rank second in student popularity behind business entrepreneurship. But we can also mention arts, music, biomedical, sports, nursing and humanities entrepre-neurship. The big difference is that the fate of an entire planet is at stake, and they have contributions to make. That’s what leads us to sustainability entrepreneurship.
The process of transforming creative ideas into commercially viable businesses in support of healing the earth is a major challenge for entrepreneurs. Education is key for many entre-preneurs to commercialise their ideas. Drawing upon the theory of experiential, entre-preneurs, in their unique teachable moments, require active and concrete pedagogical interventions that can be enhanced through a blended learning environment of online and face-to-face modalities leading them step-by-step through deepening learning in the theory, process and practice of entrepreneurship on behalf of people, profits and planet. That about sums it up.
Keynote. “Entrepreneurship as if the Planet Mattered”, First Indonesian Conference on Innovation, Entrepreneurship and Small Business”, Center for Innovation, Entrepreneurship and Leadership, Institute of Technology, Bandung (ITB), West Java, Indonesia July 22-23, 2009, http://www.ciel-sbm-itb.com/icies/
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
Andreas Schleicher presents at the OECD webinar ‘Digital devices in schools: detrimental distraction or secret to success?’ on 27 May 2024. The presentation was based on findings from PISA 2022 results and the webinar helped launch the PISA in Focus ‘Managing screen time: How to protect and equip students against distraction’ https://www.oecd-ilibrary.org/education/managing-screen-time_7c225af4-en and the OECD Education Policy Perspective ‘Students, digital devices and success’ can be found here - https://oe.cd/il/5yV
4. Objectives
1. To begin our exploration of entrepreneurship and the
environment
2. To distinguish between business and social entrepreneurs
3. To distinguish between entrepreneurs and small-business
owners
4. To explain the importance of entrepreneurs for economic growth
5. To examine the historical development of entrepreneurs and of
entrepreneurship
6. To define entrepreneurship and explore the major schools of
entrepreneurial thought
7. To realise that entrepreneurship is a pathway to freedom
5. Entrepreneurs facing the unknown
5
Famous roller coaster entrepreneur Carl Miler’s brilliant innovation
swept away by global warming.
6. What do entrepreneurs care
about climate change and global warming?
• For centuries entrepreneurs
exploited the environment
without any thought for
sustainability.
• Henry Ford and Thomas
Edison accelerated global
warming.
• Will modern entrepreneurs
reverse the toxic trend? Henry Ford,
Model A Elon Musk
Tesla Model S
7. Enterprising human beings have changed the world’s
climate and entrepreneurs must share some of the blame.
8. Why we are hopeful
• How can we as entrepreneurs
stop this global environmental
catastrophe?
• Who is best positioned to
commercialise existing
innovations and create new
technologies?
• Entrepreneurs never waste a
good crisis
• Entrepreneurs recognise
opportunities where others see
chaos or confusion.
• Entrepreneurs could well be the
saviours of our planet.
• ‘Entrepreneurs who respond to
the challenge will reap
commercial success’
9. Various types of entrepreneurs
Business
entrepreneurs
Driven by a profit
motive – constantly
innovating for
market share
Social
entrepreneurs
Driven by a mission
to fill gaps left by
the market and
public sector
10. Entrepreneurs different from small
business owners
Small
business
owners
• Prefer a more stable
and less aggressive
approach
• Would rather exploit
existing opportunities
• Operate in existing
markets
11. Enterprising mind set
• Entrepreneurs have an enterprising mindset.
• Enterprising:
– ‘marked by imagination, initiative and readiness to
undertake new projects’.
• Entrepreneurial:
– ‘willing to take risks in order to create value’.
• Anyone can be enterprising.
12. Entrepreneurs as Starship Enterprise
• ‘Boldly go where no [one] has
gone before’.
• ‘Space… the final frontier’
• ‘To explore strange new worlds, to seek
out new life and new civilizations’
• Enterprising is an ‘attitude of exploring,
of developing, of leading and of taking
initiatives’.
13. • What does the word
‘entrepreneur’ mean to you?
• In your language or culture, what
is the word for entrepreneur?
• What is its “root meaning” in your
language?
• Write it down on a sheet of paper
for use later.
?
14. Derivation & Definition
• The word ‘entrepreneur’ is a French verb entreprendre,
meaning ‘to take in between’, or ‘to undertake’ (someone
who undertakes)
• Today it means a social or business innovator
– who recognises and seizes opportunities;
– converts those opportunities into workable/marketable ideas;
– adds value through time, effort, money or skills;
– assumes the risks of the competitive marketplace to implement these ideas; and
– realises the rewards from these efforts.
15. In other languages and cultures
• usahawan (Malay) − someone who does a commercial
activity at some financial risk.
• pupagongan (Thai) − ‘someone who assembles other
people together’.
• Māori of New Zealand:
– ngira tuitui − the ‘needle that binds things together’
– tinihanga − the ‘tricks of Māui’ (a Polynesian demigod famous
for his entrepreneurial spirit, heroism, altruism and brashness).
– His innovative hook pulled New Zealand out of the ocean
Māori demogods
16. Entrepreneurship
through the ages
• Primitive hunter gatherers sought
niche advantage in the wild market
place.
• Ancient Assyrian had innovation and
a corps of knowledge workers.
• Phoenician traders peacefully
connected cultures through trade.
• Roman nobles let slave run their
enterprises.
• The Bible forbade entrepreneurship
(‘usury’)
‘He [who] lends at usury and takes excessive
interest. Will such a man live? He will not!
Because he has done all these detestable
things, he will surely be put to death and his
blood will be on his own head’.
17. Entrepreneurship
through the ages
• Islam promoted entrepreneurship.
The Prophet Mohammed was a trade agent.
• During the Dark Ages, wealth creation came
through conquest; innovation was separate to
wealth creation.
• With the industrial revolution came a strong link
between entrepreneurial activity and wealth.
• Mark Twain’s Connecticut Yankee entrepreneur
transported magically back to King Arthur’s court.
18. Contemporary definitions
• Rugged individualists cherish
individual liberty and self-reliance
• Closely linked with free enterprise
and capitalism.
• Definition has broadened beyond
financial or business value to
creating social value.
• Entrepreneurs are seen as
innovators, non-conformist,
pioneers on the frontier of business
and enterprise.
Dolly Parton & Richard Branson
are classic entrepreneurs.
19. Contemporary definitions
• Essential ingredients:
– Willingness to take calculated risks (time, equity, career)
– Ability to formulate an effective venture team
– Creative skill to marshal resources
– Skill of building a solid business plan
– Vision to recognise opportunity among chaos, contradiction and
confusion
– Entrepreneurs considered heroes of free enterprise and
social venturing.
– Many people now regard entrepreneurship as pioneership
20. Entrepreneurship theory
• A theory can predict future activity, or at
least prescribe the right action in particular
circumstances.
• A theory of entrepreneurship is defined as
– a coherent formulation of relationships
– or underlying principles that explain
entrepreneurship.
• Entrepreneurship is interdisciplinary.
• Let’s examine the ‘schools of thought’
22. Macro schools of thought
• Social and cultural
– focus on external factors and
conditions shaping the
entrepreneur.
• Financial/capital
– focus on how to seek seed
capital and growth funds.
• Displacement
– Factors that prevent a person
from doing other activities
due to group membership
• Ecological
– Focus on natural systems
and constraints and
includes ‘green economics’
Social
and cultural
Financial/
capital
Displacement Ecological
23. Micro schools of thought
• Entrepreneurial trait
– Traits common to successful
entrepreneurs. Self-efficacy,
proactive personality, tenacity, need
for achievement and stress
tolerance
• Venture opportunity
– Right idea/right time/right market
niche. The importance of
preparation and awareness
• Strategic formulation
– The importance of planning to
successful enterprise. Leveraging
unique, identifiable elements to
form a venture
Entrepreneur
ial trait
Venture
opportunity
Strategic
formulation
24. ‘Your’ school of thought
• Earlier you were asked to write down
‘What does the word
“entrepreneurship” mean to you?’
• Go back to what you wrote and
identify which school(s) of thought is
demonstrated in your response.
?
25. Our entrepreneurial
economy
• Global Entrepreneurship Monitor
(GEM) report is the world’s
benchmark.
• GEM’s most famous measure is
Total Early-stage Entrepreneurial
Activity (TEA)
• Two kinds of entrepreneurship:
necessity and opportunity
• More in Chapters 2 and 12.
26. Are all entrepreneurs gazelles?
• Myths about gazelles
• All entrepreneurs should be
gazelles.
• Only gazelles get venture capital.
• Gazelles were never mice.
• Gazelles are high tech.
• Gazelles are global.
27. Generations
of entrepreneurs
• Gen X and Baby Boomers more
entrepreneurial than Gen Y.
• Gen Ys are also less risk averse
• Boomers have everything needed to make
a business successful.
• Generation Z (1995-2009) never knew the
pre-internet world.
• Generation Alpha (2010+). For them,
smartphones have always existed.
28. Which pathways to
freedom for you?
• This book is about finding your own personal
pathway to entrepreneurship
• Entrepreneurs have the dream and will to found a private
kingdom
• You are the ‘proprietor of the rest of your life’. Will you become:
– Corporate entrepreneur or family business person?
– Bootstrapper or mini-entrepreneur?
– An existing business or franchising?
– Social venturing?
– Lifestyle entrepreneur?
– High-tech, high-growth self-maximising, pioneer entrepreneur?
29. Entrepreneurship as a
pathway to freedom
• Economic activity is the objective
and the primary means of
enhancing human freedom
• ‘The usefulness of wealth lies in
the things that it allows us to do –
the substantive freedoms it helps
us to achieve’.
Entrepreneurship
is a mode of self-
actualisation.
30. The circle of life:
Which pathway for you?
Farmers 73%
Writers and authors 67%
Photographers 60%
Fishers 57%
Multimedia Artists 57%
Artists 50%
Musicians and singers 36%
Jewellers 33%
Psychologists 33%
Interior designers 26%
Animal carers 25%
Fashion designers 25%
Optometrists 25%
Modern professions that
are self-employed
32. University-Based Entrepreneurship
Ecosystems (U-BEE)
• Labour
• Students
• Lawyers
• Cooperatives
• Councils
• Multinationals
• Foundations
• Aid agencies
• Schools
• Private sector
• Family businesses
• Investors
• Banks
• Social leaders
• Research centres
• Military
33. ‘University-Based Entrepreneurship Ecosystem’
Does your university have . . . ?
• Links to angel and venture funds
• Business plan competitions
• Entrepreneurship student club(s)
• Business incubator
• Networking events for entrepreneurs
• Entrepreneurship activities centre
• Entrepreneurship research activities
• Student venture investment fund
34. Key concepts
(close your books)
1. Provide a short definition of the
word ‘entrepreneur’.
2. What will influence your
likelihood of becoming an
entrepreneur?
?
35. Key concepts
• An entrepreneur:
– recognises and seizes opportunities and converts
them into marketable ideas
– adds value through time, effort, money and skills
– assumes risks in a competitive marketplace.
• A range of perspectives (schools of thought)
• Choice to be an entrepreneur is influenced by
culture, education and situation
Editor's Notes
1
To begin our exploration of entrepreneurship and the environment
To distinguish between business and social entrepreneurs
To distinguish between entrepreneurs and small-business owners
To explain the importance of entrepreneurs for economic growth
To examine the historical development of entrepreneurs and of entrepreneurship
To define entrepreneurship and explore the major schools of entrepreneurial thought
To realise that entrepreneurship is a pathway to freedom
Bullseye. Work found at http://pixabay.com/p-155726 CC0 Public Domain
5
6
7
8
9
10
11
12
PowerPoints to accompany Frederick, HH. et al. Entrepreneurship: Theory Process Practice (4th Asia-Pacific ed.), Melbourne: Cengage Learning Australia 2016.
14
15
16
17
Today we recognise that the agent of change in human history has been and most likely will continue to be the entrepreneur.
Rugged individualists, those who cherish individual liberty and self-reliance, frequently found themselves opposed to authority and to controls over the individual.
At the core of it was the mantra that entrepreneurs ‘mind their own business’ (as in take charge of or look after themselves).
Dolly Parton: Work found at http://commons.wikimedia.org/wiki/File:Dolly_parton_grand_ole_opry_crop.jpg Country star Dolly Parton sings on stage during a Grand Ole Opry live broadcast in Nashville, Tenn This is a retouched picture, which means that it has been digitally altered from its Original version. Modifications: cropped. Modifications made by Clcx. // Richard Branson: Work found at http://commons.wikimedia.org/wiki/File:Sir_Richard_Branson_photo_by_Priory_Studios.jpg . Cropped. CC Attribution-Share Alike 3.0
Essential ingredients include the willingness to take calculated risks in terms of time, equity or career; the ability to formulate an effective venture team; the creative skill to marshal needed resources; and, finally, the vision to recognise opportunity where others see chaos, contradiction and confusion.
Whatever the specific activity they engage in, entrepreneurs in the twenty-first century are today considered heroes of free enterprise and social venturing. Many of them use innovation and creativity to build highly valued social and business enterprises from fledgling ventures.
Many people now regard entrepreneurship as pioneership on the frontier of business.
Entrepreneurship is a dynamic process of vision, change and creation. It requires an application of energy and passion towards the creation and implementation of new value-adding ideas and creative solutions.
Research on entrepreneurship has grown dramatically
A theory of entrepreneurship is defined as a verifiable and logically coherent formulation of relationships, or underlying principles that explain entrepreneurship. These principles predict entrepreneurial activity (for example, by characterising conditions that are likely to lead to new profit opportunities and the formation of new enterprises)
In the study of contemporary entrepreneurship, one concept recurs: Entrepreneurship is interdisciplinary. As such, it contains various approaches that can increase one’s understanding of the field. Thus we need to recognise the diversity of theories as an emergence of entrepreneurial understanding.
One way to examine these theories is with a ‘schools of thought’ approach that divides entrepreneurship into specific activities. These activities may be within a ‘macro’ view or a ‘micro’ view, yet all address the conceptual nature of entrepreneurship.
Bing Bang Theory: Work found at https://www.flickr.com/photos/pimkie_fotos/3439170184/in/album-72157616628184467/ . Cropped. Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0)
21
22
23
24
25
26
27
28
29
30
Entrepreneurs are most successful when they have access to the human, financial and professional resources they need, and operate in an environment in which policies encourage and safeguard entrepreneurs.
It is worthwhile taking the elements of the entrepreneurial ecosystem shown in Figure 9.10 into account as you consider your start-up and its future trajectory.
This network is described as the ‘entrepreneurship ecosystem’.
This systems view of entrepreneurship acknowledges that entrepreneurship does not start and stop with the actions of an entrepreneur or the organisations they build but instead it includes the multiple elements that work together to create a supportive environment for entrepreneurship.
Startup Ecosystem: Work found at https://en.wikipedia.org/wiki/Startup_ecosystem#/media/File:StartupEcosystem.png / Creator: Startup Ecosystem Whitepaper (//en.wikipedia.org/wiki/Wikipedia:Text_of_Creative_Commons_Attribution-ShareAlike_3.0_Unported_License)
Refer to Chapter 1, Slide 35.
U-BEE refers to the elements of a particular university that facilitate or block a person from developing his or her enterprising personality and launching a successful social or business venture.
These may include government, schools, private sector, family businesses, investors, banks, entrepreneurs, social leaders, research centres, military, labour representatives, students, lawyers, cooperatives, councils, multinationals, private foundations, aid agencies and the like.
The entrepreneurial ecosystem is comprised of the physical spaces where entrepreneurs interact; the alignment of institutional objectives; access to university resources like laboratories, researchers and knowledge transfer; market-driven orientation for research; participation of the business community; participation of venture capital firms; and active participation of state and federal government in creating the necessary legal framework and assigning economic resources to job and new venture creation.
Cover: Own image
33
PowerPoints to accompany Frederick, HH. et al. Entrepreneurship: Theory Process Practice (4th Asia-Pacific ed.), Melbourne: Cengage Learning Australia 2016.
PowerPoints to accompany Frederick, HH. et al. Entrepreneurship: Theory Process Practice (4th Asia-Pacific ed.), Melbourne: Cengage Learning Australia 2016.