SlideShare a Scribd company logo
ENTREPRENEURSHIP
& INNOVATION
COURSE SCHEDULE
 CHAPTER 1: WHAT IS ENTERPRENEURSHIP AND
INNOVATION?
 CHAPTER 2: STARTING A SMALL BUSINESS
 CHAPTER 3: CREATING A BUSINESS PLAN
Chapter 1: What is Entrepreneurship
and Innovation?
Entrepreneurship
What is Entrepreneurship?
According to the Oxford Dictionary,
Entrepreneurship is setting up a business or
businesses, taking on financial risks in the hope
of profit.
Entrepreneur
What is an Entrepreneur?
The term «Entrepreneur» began to be used in the early
18th century and is applied to individuals who discover
and/or create opportunities and then manage resources
and bear risks to take advantage of them.
Famous Entrepreneurs
Thomas Alva Edison amongst many other
contributions, developed electric power-generation
technology and created the General Electric
Company in 1892.
Famous Entrepreneurs
Chief Executive Officer of Facebook, Mark
Zuckerburg, was 20 years old when he founded
Facebook and now he is the youngest billionaire in the
world.
“Some kids played computer games. Mark created
them”. – Writer, Jose Antonio Vargas.
Famous Entrepreneurs
Steve Forbes was a student in Princeton when he first
started the «Business Magazine» in 1968. Now Business
Magazine has over a 6 million readers and Forbes’
current net worth is around 430 million dollars.
Famous Entrepreneurs
Mary Kay Ash founded Mary Cay Cosmetics Inc. in
1968 initially only selling five products. She
achieved to be one of the biggest marketing and
cosmetics companies in the male dominated
business world.
Some characteristics of
Entrepreneurs identified by
Economist, Joseph Schumpeter.
The Entrepreneur
 seeks out difficulties, changes in order to
change, delights in ventures.
 attains an extraordinary ability to work
extremely hard and takes risks.
 possesses an innate and creative business
vision.
Schumpeter’s Models
 Mark I Model: Creative destruction is driven by
the entrepreneurial task of «breaking up old, and
creating new tradition.»
 Mark II Model: Entrepreneurship occurs in large
firms as well as newly created firms, reflecting
the changing industrial realities as formally
organized. It is an organizational process by which
opportunities are sought, developed, and
exploited in many different kinds of companies.
Video: Am I an Entrepreneur?
http://www.youtube.com/watch?v=0JaPaeFY
E5U
Innovation and Its Types
Simple definition of innovation:
ideas successfully applied.
Innovation is…
what happens when new thinking is successfully
introduced and valued by organizations.
the arena where creation and application of new
ideas are formally organized and managed.
the theatre where the excitement of
experimentation and learning meets
organizational realities of limited budgets,
established routines, disputed priorities, and
constrained imaginations.
Main Types of Innovation
Innovation
Product
Innovation
Marketing
Innovation
Organizational
Innovaton
Process
Innovation
Product Innovation
Innovations of goods and services. Creating new
technologies or technical improvements of products.
Organizational Innovation
An organizational innovation is the implementation
of a new organizational method in a firm's business
practice, workplace or external relations.
Process Innovation
Improvements of the production or delivery method.
In the 1980’s this model of innovation came to the fore
driven primarily by the remarkable success of Japanese
auto manufacturers, which were twice as efficient as
their international competitors.
Japan  «Lean
production» contrast
with the mass
production techniques
West  Mass Production,
typfied by Henry Ford is
based on assembly lines
producing standardized
products
Marketing Innovation
Marketing innovation is the implementation of new
marketing methods.
By the 1990’s Roy Rothwell began to identify a number
of changes occurring in strategy firms, which were
using innovation and technologies to support
themselves. The innovation strategies were highly
integrated with its partners including «lead customers»
demanding users, and co-developers. Rothwell called
this the «strategic integration and networking» model
of innovation.

More Related Content

What's hot

Entrepreneurship development First unit .... by kar
Entrepreneurship development First unit .... by karEntrepreneurship development First unit .... by kar
Entrepreneurship development First unit .... by karSelva Rani
 
Entrepreneurial Mindset
Entrepreneurial MindsetEntrepreneurial Mindset
Entrepreneurial Mindset
Retno Nindya
 
Entrepreneurship process
Entrepreneurship processEntrepreneurship process
Entrepreneurship process
Ãbhîläşh Mãňü
 
Innovation and Entrepreneurship
Innovation and EntrepreneurshipInnovation and Entrepreneurship
Innovation and Entrepreneurship
Manojkumar Parmar
 
The Process of Innovation
The Process of InnovationThe Process of Innovation
The Process of Innovation
Joel Wenger
 
Chapter 2 entrepreneurship (lecture 2)
Chapter 2 entrepreneurship (lecture 2)Chapter 2 entrepreneurship (lecture 2)
Chapter 2 entrepreneurship (lecture 2)Afzaal Ali
 
Entrepreneurship management
Entrepreneurship managementEntrepreneurship management
Entrepreneurship management
basitnazir
 
Creativity, Innovation, and Entrepreneurship
Creativity, Innovation, and EntrepreneurshipCreativity, Innovation, and Entrepreneurship
Creativity, Innovation, and EntrepreneurshipZechariah Blanchard
 
Open Innovation: An Introduction and Overview (Chalmers)
Open Innovation: An Introduction and Overview (Chalmers)Open Innovation: An Introduction and Overview (Chalmers)
Open Innovation: An Introduction and Overview (Chalmers)
Marcel Bogers
 
Organisational Innovation - Organisational Theory and Design
Organisational Innovation - Organisational Theory and DesignOrganisational Innovation - Organisational Theory and Design
Organisational Innovation - Organisational Theory and Design
Mairaj Nadeem
 
opportunity and idea generation
opportunity and idea generationopportunity and idea generation
opportunity and idea generationguptaaakansha
 
Entrepreneurship Lecture Notes Part 1
Entrepreneurship Lecture Notes Part 1Entrepreneurship Lecture Notes Part 1
Entrepreneurship Lecture Notes Part 1
Odofin Caleb
 
Innovation - What, Why, Who, Types, Metrics
Innovation - What, Why, Who, Types, MetricsInnovation - What, Why, Who, Types, Metrics
Innovation - What, Why, Who, Types, MetricsBozidar Jovicevic
 
Innovation management presentation1
Innovation management presentation1Innovation management presentation1
Innovation management presentation1
shruthi nair
 
INNOVATION & ENTREPRENEURSHIP.pptx
INNOVATION & ENTREPRENEURSHIP.pptxINNOVATION & ENTREPRENEURSHIP.pptx
INNOVATION & ENTREPRENEURSHIP.pptx
ABHISHEK PRESENTATION
 
Module 3 entrepreneurial mindset
Module 3  entrepreneurial mindsetModule 3  entrepreneurial mindset
Module 3 entrepreneurial mindset
caniceconsulting
 
Introduction to Entrepreneurship v3, 1st edition
Introduction to Entrepreneurship  v3, 1st editionIntroduction to Entrepreneurship  v3, 1st edition
Introduction to Entrepreneurship v3, 1st edition
Jorge Saguinsin
 
Corporate entrepreneurship
Corporate entrepreneurshipCorporate entrepreneurship
Corporate entrepreneurshipTufail Ahmed
 

What's hot (20)

Entrepreneurship development First unit .... by kar
Entrepreneurship development First unit .... by karEntrepreneurship development First unit .... by kar
Entrepreneurship development First unit .... by kar
 
Entrepreneurial Mindset
Entrepreneurial MindsetEntrepreneurial Mindset
Entrepreneurial Mindset
 
Entrepreneurship process
Entrepreneurship processEntrepreneurship process
Entrepreneurship process
 
Innovation and Entrepreneurship
Innovation and EntrepreneurshipInnovation and Entrepreneurship
Innovation and Entrepreneurship
 
The Process of Innovation
The Process of InnovationThe Process of Innovation
The Process of Innovation
 
Chapter 2 entrepreneurship (lecture 2)
Chapter 2 entrepreneurship (lecture 2)Chapter 2 entrepreneurship (lecture 2)
Chapter 2 entrepreneurship (lecture 2)
 
Entrepreneurship management
Entrepreneurship managementEntrepreneurship management
Entrepreneurship management
 
Creativity, Innovation, and Entrepreneurship
Creativity, Innovation, and EntrepreneurshipCreativity, Innovation, and Entrepreneurship
Creativity, Innovation, and Entrepreneurship
 
Open Innovation: An Introduction and Overview (Chalmers)
Open Innovation: An Introduction and Overview (Chalmers)Open Innovation: An Introduction and Overview (Chalmers)
Open Innovation: An Introduction and Overview (Chalmers)
 
Organisational Innovation - Organisational Theory and Design
Organisational Innovation - Organisational Theory and DesignOrganisational Innovation - Organisational Theory and Design
Organisational Innovation - Organisational Theory and Design
 
opportunity and idea generation
opportunity and idea generationopportunity and idea generation
opportunity and idea generation
 
Entrepreneurship Lecture Notes Part 1
Entrepreneurship Lecture Notes Part 1Entrepreneurship Lecture Notes Part 1
Entrepreneurship Lecture Notes Part 1
 
Innovation - What, Why, Who, Types, Metrics
Innovation - What, Why, Who, Types, MetricsInnovation - What, Why, Who, Types, Metrics
Innovation - What, Why, Who, Types, Metrics
 
Innovation management
Innovation managementInnovation management
Innovation management
 
Innovation management presentation1
Innovation management presentation1Innovation management presentation1
Innovation management presentation1
 
INNOVATION & ENTREPRENEURSHIP.pptx
INNOVATION & ENTREPRENEURSHIP.pptxINNOVATION & ENTREPRENEURSHIP.pptx
INNOVATION & ENTREPRENEURSHIP.pptx
 
Module 3 entrepreneurial mindset
Module 3  entrepreneurial mindsetModule 3  entrepreneurial mindset
Module 3 entrepreneurial mindset
 
Intrapreneurship
IntrapreneurshipIntrapreneurship
Intrapreneurship
 
Introduction to Entrepreneurship v3, 1st edition
Introduction to Entrepreneurship  v3, 1st editionIntroduction to Entrepreneurship  v3, 1st edition
Introduction to Entrepreneurship v3, 1st edition
 
Corporate entrepreneurship
Corporate entrepreneurshipCorporate entrepreneurship
Corporate entrepreneurship
 

Viewers also liked

Strategic Thinking for Hospital CXOs
Strategic Thinking for Hospital CXOs Strategic Thinking for Hospital CXOs
Strategic Thinking for Hospital CXOs
Chirantan Chatterjee
 
The customer innovation management platform
The customer innovation management platform The customer innovation management platform
The customer innovation management platform
Innovation Minder
 
'A Harvard project' Teece's profiting from technological innovations * MASI *...
'A Harvard project' Teece's profiting from technological innovations * MASI *...'A Harvard project' Teece's profiting from technological innovations * MASI *...
'A Harvard project' Teece's profiting from technological innovations * MASI *...
Dr Ritesh Malik
 
Entrepreneurial Barriers and Challenges by Neeraj Bhandari (Surkhet,Nepal)
Entrepreneurial Barriers and Challenges by Neeraj Bhandari (Surkhet,Nepal)Entrepreneurial Barriers and Challenges by Neeraj Bhandari (Surkhet,Nepal)
Entrepreneurial Barriers and Challenges by Neeraj Bhandari (Surkhet,Nepal)
Neeraj Bhandari
 
Entreprenureship
EntreprenureshipEntreprenureship
Entreprenureship
Alejandro Gonzalez
 
Cam 1 unit palanivendhan manufacturin systems
Cam 1 unit palanivendhan manufacturin systemsCam 1 unit palanivendhan manufacturin systems
Cam 1 unit palanivendhan manufacturin systems
palanivendhan
 
Lecture 3 - The microeconomic foundations of the economic theory of innovation
Lecture 3 - The microeconomic foundations of the economic theory of innovationLecture 3 - The microeconomic foundations of the economic theory of innovation
Lecture 3 - The microeconomic foundations of the economic theory of innovationUNU.MERIT
 
Barriers in entrepreneurship
Barriers in entrepreneurshipBarriers in entrepreneurship
Barriers in entrepreneurshipAli Shah
 
Lead User
Lead UserLead User
Joseph schumpeter
Joseph schumpeter Joseph schumpeter
Joseph schumpeter
Coca-Cola HBC Lietuva
 
NATIONAL STOCK EXCHANGE
NATIONAL STOCK EXCHANGENATIONAL STOCK EXCHANGE
NATIONAL STOCK EXCHANGE SUJOY KR PAUL
 
Theories of entrepreneurship
Theories of entrepreneurshipTheories of entrepreneurship
Theories of entrepreneurshipDilpreet Bathla
 
Innovation And Entrepreneurship
Innovation And EntrepreneurshipInnovation And Entrepreneurship
Innovation And Entrepreneurship
Andre Kearns
 
entrepreneurship, innovation, creativity
entrepreneurship, innovation, creativityentrepreneurship, innovation, creativity
entrepreneurship, innovation, creativityMonika Maciuliene
 
Innovation process & models
Innovation process & modelsInnovation process & models
Innovation process & models
VijayKrKhurana
 
Barriers to entrepreneurship 2
Barriers to entrepreneurship 2Barriers to entrepreneurship 2
Barriers to entrepreneurship 2
Arun SP
 

Viewers also liked (20)

Strategic Thinking for Hospital CXOs
Strategic Thinking for Hospital CXOs Strategic Thinking for Hospital CXOs
Strategic Thinking for Hospital CXOs
 
The customer innovation management platform
The customer innovation management platform The customer innovation management platform
The customer innovation management platform
 
Entrepreneurship 1
Entrepreneurship 1Entrepreneurship 1
Entrepreneurship 1
 
Enterpreneurship
EnterpreneurshipEnterpreneurship
Enterpreneurship
 
'A Harvard project' Teece's profiting from technological innovations * MASI *...
'A Harvard project' Teece's profiting from technological innovations * MASI *...'A Harvard project' Teece's profiting from technological innovations * MASI *...
'A Harvard project' Teece's profiting from technological innovations * MASI *...
 
Entrepreneurial Barriers and Challenges by Neeraj Bhandari (Surkhet,Nepal)
Entrepreneurial Barriers and Challenges by Neeraj Bhandari (Surkhet,Nepal)Entrepreneurial Barriers and Challenges by Neeraj Bhandari (Surkhet,Nepal)
Entrepreneurial Barriers and Challenges by Neeraj Bhandari (Surkhet,Nepal)
 
Entreprenureship
EntreprenureshipEntreprenureship
Entreprenureship
 
Enterpreneurship
EnterpreneurshipEnterpreneurship
Enterpreneurship
 
Cam 1 unit palanivendhan manufacturin systems
Cam 1 unit palanivendhan manufacturin systemsCam 1 unit palanivendhan manufacturin systems
Cam 1 unit palanivendhan manufacturin systems
 
Lecture 3 - The microeconomic foundations of the economic theory of innovation
Lecture 3 - The microeconomic foundations of the economic theory of innovationLecture 3 - The microeconomic foundations of the economic theory of innovation
Lecture 3 - The microeconomic foundations of the economic theory of innovation
 
Barriers in entrepreneurship
Barriers in entrepreneurshipBarriers in entrepreneurship
Barriers in entrepreneurship
 
Lead User
Lead UserLead User
Lead User
 
Joseph schumpeter
Joseph schumpeter Joseph schumpeter
Joseph schumpeter
 
ENTERPRENEURSHIP
ENTERPRENEURSHIPENTERPRENEURSHIP
ENTERPRENEURSHIP
 
NATIONAL STOCK EXCHANGE
NATIONAL STOCK EXCHANGENATIONAL STOCK EXCHANGE
NATIONAL STOCK EXCHANGE
 
Theories of entrepreneurship
Theories of entrepreneurshipTheories of entrepreneurship
Theories of entrepreneurship
 
Innovation And Entrepreneurship
Innovation And EntrepreneurshipInnovation And Entrepreneurship
Innovation And Entrepreneurship
 
entrepreneurship, innovation, creativity
entrepreneurship, innovation, creativityentrepreneurship, innovation, creativity
entrepreneurship, innovation, creativity
 
Innovation process & models
Innovation process & modelsInnovation process & models
Innovation process & models
 
Barriers to entrepreneurship 2
Barriers to entrepreneurship 2Barriers to entrepreneurship 2
Barriers to entrepreneurship 2
 

Similar to Entrepreneurship & innovation chapter1

Enterpreneurship development by_pawan_tripathi_2014_09_14_10_41_17_775
Enterpreneurship development by_pawan_tripathi_2014_09_14_10_41_17_775Enterpreneurship development by_pawan_tripathi_2014_09_14_10_41_17_775
Enterpreneurship development by_pawan_tripathi_2014_09_14_10_41_17_775
Pawan Tripathi
 
Types of entrepreneur
Types of entrepreneurTypes of entrepreneur
Types of entrepreneur
satarupa modak
 
UNIT-I Theories.pptx
UNIT-I Theories.pptxUNIT-I Theories.pptx
UNIT-I Theories.pptx
AnchalLuthra3
 
CH 01 Entrepreneurship.pptx
CH 01 Entrepreneurship.pptxCH 01 Entrepreneurship.pptx
CH 01 Entrepreneurship.pptx
MehediHasan875455
 
Entrepreneurship Related Definition History
Entrepreneurship Related Definition HistoryEntrepreneurship Related Definition History
Entrepreneurship Related Definition History
24x7kannadanews
 
Lesson 1 .pdf
Lesson 1 .pdfLesson 1 .pdf
Lesson 1 .pdf
mphillowanjohi
 
The Characteristics Of An Entrepreneur
The Characteristics Of An EntrepreneurThe Characteristics Of An Entrepreneur
The Characteristics Of An Entrepreneur
Liz Sims
 
Developing Entrepreneurial Skills through Business Education Program to Curb ...
Developing Entrepreneurial Skills through Business Education Program to Curb ...Developing Entrepreneurial Skills through Business Education Program to Curb ...
Developing Entrepreneurial Skills through Business Education Program to Curb ...
International Journal of Arts and Social Science
 
Presentation (3) copy.pptx
Presentation (3) copy.pptxPresentation (3) copy.pptx
Presentation (3) copy.pptx
aunkitapandey
 
Emerging Entrepreneur Trends
Emerging Entrepreneur TrendsEmerging Entrepreneur Trends
Emerging Entrepreneur Trends
Candice Him
 
Entrepreneurship
EntrepreneurshipEntrepreneurship
Entrepreneurship
indianeducation
 
Types of Entrepreneurs and factors affecting entrepreneurial growth.pptx
Types of Entrepreneurs and factors affecting entrepreneurial growth.pptxTypes of Entrepreneurs and factors affecting entrepreneurial growth.pptx
Types of Entrepreneurs and factors affecting entrepreneurial growth.pptx
ShifanKPhoulad1
 
Entrepreneurship Development - Introduction
Entrepreneurship Development - IntroductionEntrepreneurship Development - Introduction
Entrepreneurship Development - Introduction
SOMASUNDARAM T
 
Entrepreneurship Development - Introduction
Entrepreneurship Development - IntroductionEntrepreneurship Development - Introduction
Entrepreneurship Development - Introduction
SOMASUNDARAM T
 
The discipline of innovation by Peter F. Drucker
The discipline of innovation by Peter F. DruckerThe discipline of innovation by Peter F. Drucker
The discipline of innovation by Peter F. Drucker
Taimur Khan
 
ENTREPRENEURship Management
ENTREPRENEURship ManagementENTREPRENEURship Management
ENTREPRENEURship ManagementVijay Gujaran
 
982016 University of Phoenix Managing Innovation and Entrep.docx
982016 University of Phoenix Managing Innovation and Entrep.docx982016 University of Phoenix Managing Innovation and Entrep.docx
982016 University of Phoenix Managing Innovation and Entrep.docx
ransayo
 
chapter_1_and_2.ppt
chapter_1_and_2.pptchapter_1_and_2.ppt
chapter_1_and_2.ppt
amima anwar
 
chapter_1_and_2.ppt
chapter_1_and_2.pptchapter_1_and_2.ppt
chapter_1_and_2.ppt
KaneezElahi
 

Similar to Entrepreneurship & innovation chapter1 (20)

Enterpreneurship development by_pawan_tripathi_2014_09_14_10_41_17_775
Enterpreneurship development by_pawan_tripathi_2014_09_14_10_41_17_775Enterpreneurship development by_pawan_tripathi_2014_09_14_10_41_17_775
Enterpreneurship development by_pawan_tripathi_2014_09_14_10_41_17_775
 
Types of entrepreneur
Types of entrepreneurTypes of entrepreneur
Types of entrepreneur
 
UNIT-I Theories.pptx
UNIT-I Theories.pptxUNIT-I Theories.pptx
UNIT-I Theories.pptx
 
CH 01 Entrepreneurship.pptx
CH 01 Entrepreneurship.pptxCH 01 Entrepreneurship.pptx
CH 01 Entrepreneurship.pptx
 
Entrepreneurship Related Definition History
Entrepreneurship Related Definition HistoryEntrepreneurship Related Definition History
Entrepreneurship Related Definition History
 
Lesson 1 .pdf
Lesson 1 .pdfLesson 1 .pdf
Lesson 1 .pdf
 
The Characteristics Of An Entrepreneur
The Characteristics Of An EntrepreneurThe Characteristics Of An Entrepreneur
The Characteristics Of An Entrepreneur
 
Developing Entrepreneurial Skills through Business Education Program to Curb ...
Developing Entrepreneurial Skills through Business Education Program to Curb ...Developing Entrepreneurial Skills through Business Education Program to Curb ...
Developing Entrepreneurial Skills through Business Education Program to Curb ...
 
Presentation (3) copy.pptx
Presentation (3) copy.pptxPresentation (3) copy.pptx
Presentation (3) copy.pptx
 
Emerging Entrepreneur Trends
Emerging Entrepreneur TrendsEmerging Entrepreneur Trends
Emerging Entrepreneur Trends
 
Entrepreneurship
EntrepreneurshipEntrepreneurship
Entrepreneurship
 
Types of Entrepreneurs and factors affecting entrepreneurial growth.pptx
Types of Entrepreneurs and factors affecting entrepreneurial growth.pptxTypes of Entrepreneurs and factors affecting entrepreneurial growth.pptx
Types of Entrepreneurs and factors affecting entrepreneurial growth.pptx
 
Concep tof entrepreneurship
Concep tof entrepreneurshipConcep tof entrepreneurship
Concep tof entrepreneurship
 
Entrepreneurship Development - Introduction
Entrepreneurship Development - IntroductionEntrepreneurship Development - Introduction
Entrepreneurship Development - Introduction
 
Entrepreneurship Development - Introduction
Entrepreneurship Development - IntroductionEntrepreneurship Development - Introduction
Entrepreneurship Development - Introduction
 
The discipline of innovation by Peter F. Drucker
The discipline of innovation by Peter F. DruckerThe discipline of innovation by Peter F. Drucker
The discipline of innovation by Peter F. Drucker
 
ENTREPRENEURship Management
ENTREPRENEURship ManagementENTREPRENEURship Management
ENTREPRENEURship Management
 
982016 University of Phoenix Managing Innovation and Entrep.docx
982016 University of Phoenix Managing Innovation and Entrep.docx982016 University of Phoenix Managing Innovation and Entrep.docx
982016 University of Phoenix Managing Innovation and Entrep.docx
 
chapter_1_and_2.ppt
chapter_1_and_2.pptchapter_1_and_2.ppt
chapter_1_and_2.ppt
 
chapter_1_and_2.ppt
chapter_1_and_2.pptchapter_1_and_2.ppt
chapter_1_and_2.ppt
 

More from t-MBA Digital

Economics chapter3
Economics chapter3Economics chapter3
Economics chapter3
t-MBA Digital
 
Economics chapter2
Economics chapter2Economics chapter2
Economics chapter2
t-MBA Digital
 
Economics chapter1
Economics chapter1Economics chapter1
Economics chapter1
t-MBA Digital
 
International relations chapter 4 problems and challenges
International relations   chapter 4 problems and challengesInternational relations   chapter 4 problems and challenges
International relations chapter 4 problems and challengest-MBA Digital
 
International relations chapter 3 ig os
International relations   chapter 3 ig osInternational relations   chapter 3 ig os
International relations chapter 3 ig ost-MBA Digital
 
International relations chapter 2 non-states
International relations   chapter 2 non-statesInternational relations   chapter 2 non-states
International relations chapter 2 non-statest-MBA Digital
 
International relations chapter 2 non-states
International relations   chapter 2 non-statesInternational relations   chapter 2 non-states
International relations chapter 2 non-statest-MBA Digital
 
International relations chapter 1 states
International relations   chapter  1  statesInternational relations   chapter  1  states
International relations chapter 1 statest-MBA Digital
 
Business and management chapter 4
Business and management chapter 4Business and management chapter 4
Business and management chapter 4t-MBA Digital
 
Business and management chapter 3
Business and management chapter 3Business and management chapter 3
Business and management chapter 3t-MBA Digital
 
Business and management chapter 2
Business and management chapter 2Business and management chapter 2
Business and management chapter 2t-MBA Digital
 
Business and management chapter 1
Business and management chapter 1Business and management chapter 1
Business and management chapter 1t-MBA Digital
 
Entrepreneurship & innovation chapter3
Entrepreneurship & innovation chapter3Entrepreneurship & innovation chapter3
Entrepreneurship & innovation chapter3t-MBA Digital
 
Entrepreneurship & innovation chapter2
Entrepreneurship & innovation chapter2Entrepreneurship & innovation chapter2
Entrepreneurship & innovation chapter2t-MBA Digital
 
Money and finance management chapter 4
Money and finance management chapter 4Money and finance management chapter 4
Money and finance management chapter 4t-MBA Digital
 
Money and finance management chapter 3
Money and finance management chapter 3Money and finance management chapter 3
Money and finance management chapter 3t-MBA Digital
 
Money and finance management chapter 2
Money and finance management chapter 2Money and finance management chapter 2
Money and finance management chapter 2t-MBA Digital
 
Money and finance management chapter 1
Money and finance management chapter 1Money and finance management chapter 1
Money and finance management chapter 1t-MBA Digital
 

More from t-MBA Digital (20)

Economics chapter3
Economics chapter3Economics chapter3
Economics chapter3
 
Economics chapter2
Economics chapter2Economics chapter2
Economics chapter2
 
Economics chapter1
Economics chapter1Economics chapter1
Economics chapter1
 
International relations chapter 4 problems and challenges
International relations   chapter 4 problems and challengesInternational relations   chapter 4 problems and challenges
International relations chapter 4 problems and challenges
 
International relations chapter 3 ig os
International relations   chapter 3 ig osInternational relations   chapter 3 ig os
International relations chapter 3 ig os
 
International relations chapter 2 non-states
International relations   chapter 2 non-statesInternational relations   chapter 2 non-states
International relations chapter 2 non-states
 
International relations chapter 2 non-states
International relations   chapter 2 non-statesInternational relations   chapter 2 non-states
International relations chapter 2 non-states
 
International relations chapter 1 states
International relations   chapter  1  statesInternational relations   chapter  1  states
International relations chapter 1 states
 
Business and management chapter 4
Business and management chapter 4Business and management chapter 4
Business and management chapter 4
 
Business and management chapter 3
Business and management chapter 3Business and management chapter 3
Business and management chapter 3
 
Business and management chapter 2
Business and management chapter 2Business and management chapter 2
Business and management chapter 2
 
Business and management chapter 1
Business and management chapter 1Business and management chapter 1
Business and management chapter 1
 
Entrepreneurship & innovation chapter3
Entrepreneurship & innovation chapter3Entrepreneurship & innovation chapter3
Entrepreneurship & innovation chapter3
 
Entrepreneurship & innovation chapter2
Entrepreneurship & innovation chapter2Entrepreneurship & innovation chapter2
Entrepreneurship & innovation chapter2
 
Money and finance management chapter 4
Money and finance management chapter 4Money and finance management chapter 4
Money and finance management chapter 4
 
Money and finance management chapter 3
Money and finance management chapter 3Money and finance management chapter 3
Money and finance management chapter 3
 
Money and finance management chapter 2
Money and finance management chapter 2Money and finance management chapter 2
Money and finance management chapter 2
 
Money and finance management chapter 1
Money and finance management chapter 1Money and finance management chapter 1
Money and finance management chapter 1
 
Chapter 4 marketing
Chapter 4 marketingChapter 4 marketing
Chapter 4 marketing
 
Chapter 3 marketing
Chapter 3 marketingChapter 3 marketing
Chapter 3 marketing
 

Recently uploaded

Strategic Analysis of Starbucks Coffee Company - MBA.docx
Strategic Analysis of Starbucks Coffee Company - MBA.docxStrategic Analysis of Starbucks Coffee Company - MBA.docx
Strategic Analysis of Starbucks Coffee Company - MBA.docx
RAJU MAKWANA
 
How To Leak-Proof Your Magazine Business
How To Leak-Proof Your Magazine BusinessHow To Leak-Proof Your Magazine Business
How To Leak-Proof Your Magazine Business
Charlie McDermott
 
Dining Tables and Chairs | Furniture Store in Sarasota, Florida
Dining Tables and Chairs | Furniture Store in Sarasota, FloridaDining Tables and Chairs | Furniture Store in Sarasota, Florida
Dining Tables and Chairs | Furniture Store in Sarasota, Florida
The Sarasota Collection Home Store
 
Web Technology LAB MANUAL for Undergraduate Programs
Web Technology  LAB MANUAL for Undergraduate ProgramsWeb Technology  LAB MANUAL for Undergraduate Programs
Web Technology LAB MANUAL for Undergraduate Programs
Chandrakant Divate
 
Best Crypto Marketing Ideas to Lead Your Project to Success
Best Crypto Marketing Ideas to Lead Your Project to SuccessBest Crypto Marketing Ideas to Lead Your Project to Success
Best Crypto Marketing Ideas to Lead Your Project to Success
Intelisync
 
Office Furniture | Furniture Store in Sarasota, Florida | Sarasota Collection
Office Furniture | Furniture Store in Sarasota, Florida | Sarasota CollectionOffice Furniture | Furniture Store in Sarasota, Florida | Sarasota Collection
Office Furniture | Furniture Store in Sarasota, Florida | Sarasota Collection
The Sarasota Collection Home Store
 
Showcase Portfolio- Marian Andrea Tana.pdf
Showcase Portfolio- Marian Andrea Tana.pdfShowcase Portfolio- Marian Andrea Tana.pdf
Showcase Portfolio- Marian Andrea Tana.pdf
MarianAndreaSTana
 

Recently uploaded (7)

Strategic Analysis of Starbucks Coffee Company - MBA.docx
Strategic Analysis of Starbucks Coffee Company - MBA.docxStrategic Analysis of Starbucks Coffee Company - MBA.docx
Strategic Analysis of Starbucks Coffee Company - MBA.docx
 
How To Leak-Proof Your Magazine Business
How To Leak-Proof Your Magazine BusinessHow To Leak-Proof Your Magazine Business
How To Leak-Proof Your Magazine Business
 
Dining Tables and Chairs | Furniture Store in Sarasota, Florida
Dining Tables and Chairs | Furniture Store in Sarasota, FloridaDining Tables and Chairs | Furniture Store in Sarasota, Florida
Dining Tables and Chairs | Furniture Store in Sarasota, Florida
 
Web Technology LAB MANUAL for Undergraduate Programs
Web Technology  LAB MANUAL for Undergraduate ProgramsWeb Technology  LAB MANUAL for Undergraduate Programs
Web Technology LAB MANUAL for Undergraduate Programs
 
Best Crypto Marketing Ideas to Lead Your Project to Success
Best Crypto Marketing Ideas to Lead Your Project to SuccessBest Crypto Marketing Ideas to Lead Your Project to Success
Best Crypto Marketing Ideas to Lead Your Project to Success
 
Office Furniture | Furniture Store in Sarasota, Florida | Sarasota Collection
Office Furniture | Furniture Store in Sarasota, Florida | Sarasota CollectionOffice Furniture | Furniture Store in Sarasota, Florida | Sarasota Collection
Office Furniture | Furniture Store in Sarasota, Florida | Sarasota Collection
 
Showcase Portfolio- Marian Andrea Tana.pdf
Showcase Portfolio- Marian Andrea Tana.pdfShowcase Portfolio- Marian Andrea Tana.pdf
Showcase Portfolio- Marian Andrea Tana.pdf
 

Entrepreneurship & innovation chapter1

  • 2. COURSE SCHEDULE  CHAPTER 1: WHAT IS ENTERPRENEURSHIP AND INNOVATION?  CHAPTER 2: STARTING A SMALL BUSINESS  CHAPTER 3: CREATING A BUSINESS PLAN
  • 3. Chapter 1: What is Entrepreneurship and Innovation?
  • 4. Entrepreneurship What is Entrepreneurship? According to the Oxford Dictionary, Entrepreneurship is setting up a business or businesses, taking on financial risks in the hope of profit.
  • 5. Entrepreneur What is an Entrepreneur? The term «Entrepreneur» began to be used in the early 18th century and is applied to individuals who discover and/or create opportunities and then manage resources and bear risks to take advantage of them.
  • 6. Famous Entrepreneurs Thomas Alva Edison amongst many other contributions, developed electric power-generation technology and created the General Electric Company in 1892.
  • 7. Famous Entrepreneurs Chief Executive Officer of Facebook, Mark Zuckerburg, was 20 years old when he founded Facebook and now he is the youngest billionaire in the world. “Some kids played computer games. Mark created them”. – Writer, Jose Antonio Vargas.
  • 8. Famous Entrepreneurs Steve Forbes was a student in Princeton when he first started the «Business Magazine» in 1968. Now Business Magazine has over a 6 million readers and Forbes’ current net worth is around 430 million dollars.
  • 9. Famous Entrepreneurs Mary Kay Ash founded Mary Cay Cosmetics Inc. in 1968 initially only selling five products. She achieved to be one of the biggest marketing and cosmetics companies in the male dominated business world.
  • 10. Some characteristics of Entrepreneurs identified by Economist, Joseph Schumpeter.
  • 11. The Entrepreneur  seeks out difficulties, changes in order to change, delights in ventures.  attains an extraordinary ability to work extremely hard and takes risks.  possesses an innate and creative business vision.
  • 12. Schumpeter’s Models  Mark I Model: Creative destruction is driven by the entrepreneurial task of «breaking up old, and creating new tradition.»  Mark II Model: Entrepreneurship occurs in large firms as well as newly created firms, reflecting the changing industrial realities as formally organized. It is an organizational process by which opportunities are sought, developed, and exploited in many different kinds of companies.
  • 13. Video: Am I an Entrepreneur? http://www.youtube.com/watch?v=0JaPaeFY E5U
  • 14. Innovation and Its Types Simple definition of innovation: ideas successfully applied.
  • 15. Innovation is… what happens when new thinking is successfully introduced and valued by organizations. the arena where creation and application of new ideas are formally organized and managed. the theatre where the excitement of experimentation and learning meets organizational realities of limited budgets, established routines, disputed priorities, and constrained imaginations.
  • 16. Main Types of Innovation Innovation Product Innovation Marketing Innovation Organizational Innovaton Process Innovation
  • 17. Product Innovation Innovations of goods and services. Creating new technologies or technical improvements of products.
  • 18. Organizational Innovation An organizational innovation is the implementation of a new organizational method in a firm's business practice, workplace or external relations.
  • 19. Process Innovation Improvements of the production or delivery method. In the 1980’s this model of innovation came to the fore driven primarily by the remarkable success of Japanese auto manufacturers, which were twice as efficient as their international competitors. Japan  «Lean production» contrast with the mass production techniques West  Mass Production, typfied by Henry Ford is based on assembly lines producing standardized products
  • 20. Marketing Innovation Marketing innovation is the implementation of new marketing methods. By the 1990’s Roy Rothwell began to identify a number of changes occurring in strategy firms, which were using innovation and technologies to support themselves. The innovation strategies were highly integrated with its partners including «lead customers» demanding users, and co-developers. Rothwell called this the «strategic integration and networking» model of innovation.