The document analyzes motivations for entrepreneurship using survey data from 1,000 entrepreneurs and interviews with 40 entrepreneurs. It finds that while necessity entrepreneurship is common, motivations are complex, with autonomy, challenge, financial goals, and family legacy also playing important roles. Entrepreneurial motivations are generally stable but increased in importance during the recession, with recession-era entrepreneurs more ambitious. Higher growth expectations, linked to challenge and financial motivations, influence business performance and survival rates more than opportunity-necessity distinctions alone.
This powerpoint presentation defines entrepreneurship and discusses its history and modern applications. It begins by defining an entrepreneur as someone who organizes and manages a business while taking on financial risk. It notes that agricultural students have been involved in entrepreneurship since the early 20th century through programs like raising livestock and growing crops. Today, agricultural entrepreneurship can involve many diverse activities beyond farming like custom harvesting or operating a small engine repair service. The presentation concludes by discussing characteristics of successful entrepreneurs and different types like social and lifestyle entrepreneurs.
The document discusses innovation, entrepreneurship, and smart business models. It defines innovation as an invention paired with a process and market. Entrepreneurship is described as a process, not a person, and as being about large companies that happen to be small, not small businesses. Entrepreneurship bridges the gap between technology/opportunity and value. Technology entrepreneurship requires both technology entrepreneurship skills and management skills at different stages. It also discusses the importance of teamwork in entrepreneurship and the technology adoption lifecycle curve.
This document defines key terms and characteristics related to entrepreneurship. It defines an entrepreneur as someone who controls a commercial venture and innovates to maximize profits. Entrepreneurship is described as starting an economic activity to be self-employed. The document lists characteristics of successful entrepreneurs like being risk-taking, perceptive, curious, imaginative, persistent, goal-setting, hardworking, self-confident, flexible, and independent. It also defines an intrapreneur as someone within a large company who takes responsibility for developing a new product or idea.
Entrepreneurship, introduction to entrepreneurship, definition of entrepreneu...Jorge Saguinsin
Introduction to basics of Entrepreneurship covers topics such as social entrepreneurship, business entrepreneurship and various masteries needed. The subject matter covers examples from the Philippines. This a compilation of various learnings from various references. These slides are lectures at Agsb entrepreneurship elective and have been uploaded for the access and convenience of present and past students of the said elective
Part One of Entrepreneurship Lecture Notes on Students Enterprise Club at www.studentsenterpriseclub.com.
This is a Study guide for intending Entrepreneurs.
The document defines entrepreneurship as starting a new business by identifying opportunities, assembling resources, and taking on associated risks and rewards. An entrepreneur determines supply of capital, allocates resources, identifies opportunities, implements plans, and harvests rewards in a flexible manner. Their functions include risk bearing, organization, innovation, management, and decision making. An entrepreneur's performance is affected by factors like personality traits as measured by the Myers-Briggs Type Indicator, which sorts preferences into 16 types based on dimensions of extraversion-introversion, sensing-intuition, thinking-feeling, and judging-perceiving. The Trade Related Entrepreneurship Assistance and Development program aims to empower women through counseling, training,
Introduction to technology entrepreneurshipandrewmaxwell
The document discusses entrepreneurship and the entrepreneurial process. It covers four key points:
1. The entrepreneurial process involves four stages: identifying opportunities, developing a business plan, determining required resources, and managing the new enterprise.
2. Small businesses make up over 50% of all businesses in Canada and provide over half of private sector jobs. They are important drivers of innovation and job growth.
3. Entrepreneurship involves creating something new of value by taking on risks and using resources to pursue opportunities. Both entrepreneurs and intrapreneurs (inside existing companies) display traits like risk-taking and leadership.
4. Technology entrepreneurship involves either developing new technologies or finding new applications for existing
Akash Kumar, an MBA student at Sanskriti University, presented on developing entrepreneurial skills. He defined entrepreneurship as starting a new business by taking risks and organizing resources. Key entrepreneurial skills include planning, marketing, interpersonal skills, personal effectiveness, team building, leadership, and communication. Entrepreneurial competency refers to the characteristics successful entrepreneurs possess, such as knowledge, motives, traits, and skills that allow a business to start and grow. Kumar discussed studying competencies and the entrepreneurship cycle. He provided examples of entrepreneurship courses and programs in India and tips for effective goal setting like choosing achievable goals, getting specific, checking in weekly, and using a five-a-day rule to
This powerpoint presentation defines entrepreneurship and discusses its history and modern applications. It begins by defining an entrepreneur as someone who organizes and manages a business while taking on financial risk. It notes that agricultural students have been involved in entrepreneurship since the early 20th century through programs like raising livestock and growing crops. Today, agricultural entrepreneurship can involve many diverse activities beyond farming like custom harvesting or operating a small engine repair service. The presentation concludes by discussing characteristics of successful entrepreneurs and different types like social and lifestyle entrepreneurs.
The document discusses innovation, entrepreneurship, and smart business models. It defines innovation as an invention paired with a process and market. Entrepreneurship is described as a process, not a person, and as being about large companies that happen to be small, not small businesses. Entrepreneurship bridges the gap between technology/opportunity and value. Technology entrepreneurship requires both technology entrepreneurship skills and management skills at different stages. It also discusses the importance of teamwork in entrepreneurship and the technology adoption lifecycle curve.
This document defines key terms and characteristics related to entrepreneurship. It defines an entrepreneur as someone who controls a commercial venture and innovates to maximize profits. Entrepreneurship is described as starting an economic activity to be self-employed. The document lists characteristics of successful entrepreneurs like being risk-taking, perceptive, curious, imaginative, persistent, goal-setting, hardworking, self-confident, flexible, and independent. It also defines an intrapreneur as someone within a large company who takes responsibility for developing a new product or idea.
Entrepreneurship, introduction to entrepreneurship, definition of entrepreneu...Jorge Saguinsin
Introduction to basics of Entrepreneurship covers topics such as social entrepreneurship, business entrepreneurship and various masteries needed. The subject matter covers examples from the Philippines. This a compilation of various learnings from various references. These slides are lectures at Agsb entrepreneurship elective and have been uploaded for the access and convenience of present and past students of the said elective
Part One of Entrepreneurship Lecture Notes on Students Enterprise Club at www.studentsenterpriseclub.com.
This is a Study guide for intending Entrepreneurs.
The document defines entrepreneurship as starting a new business by identifying opportunities, assembling resources, and taking on associated risks and rewards. An entrepreneur determines supply of capital, allocates resources, identifies opportunities, implements plans, and harvests rewards in a flexible manner. Their functions include risk bearing, organization, innovation, management, and decision making. An entrepreneur's performance is affected by factors like personality traits as measured by the Myers-Briggs Type Indicator, which sorts preferences into 16 types based on dimensions of extraversion-introversion, sensing-intuition, thinking-feeling, and judging-perceiving. The Trade Related Entrepreneurship Assistance and Development program aims to empower women through counseling, training,
Introduction to technology entrepreneurshipandrewmaxwell
The document discusses entrepreneurship and the entrepreneurial process. It covers four key points:
1. The entrepreneurial process involves four stages: identifying opportunities, developing a business plan, determining required resources, and managing the new enterprise.
2. Small businesses make up over 50% of all businesses in Canada and provide over half of private sector jobs. They are important drivers of innovation and job growth.
3. Entrepreneurship involves creating something new of value by taking on risks and using resources to pursue opportunities. Both entrepreneurs and intrapreneurs (inside existing companies) display traits like risk-taking and leadership.
4. Technology entrepreneurship involves either developing new technologies or finding new applications for existing
Akash Kumar, an MBA student at Sanskriti University, presented on developing entrepreneurial skills. He defined entrepreneurship as starting a new business by taking risks and organizing resources. Key entrepreneurial skills include planning, marketing, interpersonal skills, personal effectiveness, team building, leadership, and communication. Entrepreneurial competency refers to the characteristics successful entrepreneurs possess, such as knowledge, motives, traits, and skills that allow a business to start and grow. Kumar discussed studying competencies and the entrepreneurship cycle. He provided examples of entrepreneurship courses and programs in India and tips for effective goal setting like choosing achievable goals, getting specific, checking in weekly, and using a five-a-day rule to
The document discusses the entrepreneurial mindset and what makes an entrepreneur. It defines entrepreneurship as taking risks and having creative ideas to start a business. It profiles several famous entrepreneurs like Walt Disney, Bill Gates, and Steve Jobs. While business plans are important, some very successful companies were started without formal plans by entrepreneurs who just took action. The document also discusses risks of entrepreneurship like financial and career risks and how to balance work and personal life. It emphasizes qualities of entrepreneurs like seeing opportunities, working hard, and having an optimistic attitude when facing challenges.
This document provides an overview of entrepreneurship and key entrepreneurial concepts. It defines entrepreneurship and differentiates between entrepreneurs and businessmen. It discusses the roles and social responsibilities of entrepreneurs toward customers, society, suppliers, staff, competitors, and country. The document also examines the personal traits and competencies of successful entrepreneurs, including personal initiative, seizing opportunities, endurance, being an information seeker, commitment, efficiency, systematic planning, creative problem solving, self-confidence, assertion, and power/authority. Finally, it introduces e-business, distinguishing it from e-commerce, and discusses online marketing communication tools like direct email marketing and online catalogs.
Introduction to entreprenershipunit i to vanandmohandass
Introduction, Meaning Characteristics, Factors, Functions, Types, Challenges, Women Entrepreneurship, MSMEs, Business Plan & Model, Feasibility analysis, etc..
Entrepreneurship is one of the most important topics to which we should give more attention. Governments have to promote entrepreneurship culture in ordre to boost its economy and eliminate social problems through Social entrepreneurship. The presentation's plan :
I. What is entrepreneurship
II. Why choosing to become entrepreneur ?
III. What are the main steps into entrepreneurship ?
IIII. Why most entrepreneurs fail in business ?
1) Innovation is the introduction of a new idea, product or process into the marketplace. It involves invention plus commercialization.
2) Organizations must innovate on a continuing basis to survive in a rapidly changing economy. The goals of innovation include improving quality, creating new markets, and reducing costs and environmental damage.
3) Sources of innovation include organizational structure, management tenure, slack resources, and interunit communications. Types of innovation include product/process, open/closed, incremental/radical, and modular/architectural innovations.
2016 - 1. The concept of Innovation and Innovation Management. The type of in...Nadia Lushchak
The document provides an overview of innovation and innovation management. It defines innovation as the process of turning opportunities into new ideas and implementing them successfully. Innovation is important because it allows companies to adapt, gain competitive advantages, and drive economic growth through "creative destruction." The document also discusses different types of innovation like incremental, radical, and disruptive innovation. It examines historical models of innovation and outlines innovation management as the process of transforming inventions into innovations that achieve sustained competitive advantages. Finally, it discusses core abilities needed to manage innovation and presents an innovation process model.
Entrepreneurs possess characteristics that help economies and societies. They take risks to innovate factors of production and shift resources to higher productivity. Definitions describe entrepreneurs as adventurers who organize businesses and assume risks. Successful entrepreneurs enjoy challenges but are careful planners who attribute success to hard work. As leaders, entrepreneurs have qualities like selfless dedication, purpose, vision, courage, conviction, enthusiasm, integrity, and tact. They are positive thinkers who make decisions by carefully identifying problems, gathering data, analyzing options, selecting solutions, and implementing them.
The document defines an entrepreneur as someone who creates a new business while taking risks and uncertainties in order to make a profit. It discusses various theories of entrepreneurship including economic, sociological, and psychological theories. It also covers characteristics, types, functions, and barriers of entrepreneurs. The stages of the entrepreneurial process include discovery, concept development, resourcing, actualization, and harvesting. Entrepreneurial culture and its components that promote entrepreneurship are also summarized.
The document discusses innovation and its importance for entrepreneurship. It defines innovation as creating new combinations of nature, labor, and capital to exploit opportunities through new or improved products, services, processes, techniques, or ideas. Successful innovation requires purposefully searching for sources of change and applying principles to develop, produce, and promote innovations to customers. Entrepreneurs can innovate in many ways within an organization or through new ventures.
The document discusses motivation and factors influencing entrepreneurship. It notes that motivation is important for management and initiates and guides goal-oriented behavior. Both internal factors like ambition and external factors like government support can influence entrepreneurship. The document also examines different motivations for becoming an entrepreneur such as making money, continuing family business, or being creative. It explores measures of entrepreneurial success and how success of a venture can be its own reward.
This document discusses various topics related to entrepreneurship including:
1. Entrepreneurs recognize opportunities where others see chaos, challenge the unknown, and create the future.
2. Successful entrepreneurship is more than just a great idea - it requires taking risks, perseverance, and having the skills to execute an idea.
3. Innovation, new startups, and job creation are important contributions of entrepreneurship to economic development.
4. Entrepreneurship involves identifying opportunities, forming ventures, and managing risks, while entrepreneurs tend to be driven, creative risk-takers focused on pursuing new ideas.
The document discusses entrepreneurship and its role in economic development. It defines an entrepreneur as someone who perceives opportunities, organizes resources to exploit opportunities, and exploits them. Entrepreneurship spurs economic development by creating wealth through new products/services and dispersing economic activities. It also speeds up the use of resources and development of backward regions. When entrepreneurs innovate continuously, they foster new industries and economic growth. Harnessing entrepreneurial talent moves a society from traditional ways to modern industry.
This document discusses innovation and creativity. It defines innovation as implementing something new through a productive process, such as introducing improvements. Creativity is defined as an imaginative process that generates new ideas through conception. The document lists ways to improve innovation skills, such as focusing on changing behaviors rather than technical skills. It also provides tips to improve creativity skills, such as writing and trying challenges. Overall, the document promotes developing innovation and creativity in the workplace to solve problems and attract employees.
The document discusses entrepreneurship, defining key terms like income generation, self-employment, and entrepreneurship. It identifies the four factors of enterprise as land, labor, capital, and entrepreneur. Entrepreneurship is described as taking risks to start a productive venture seeking profit. Internal driving forces within a business and external forces outside its control are discussed. The document also covers classifications of entrepreneurship, barriers to entrepreneurship, and the difference between entrepreneurs and managers.
Entrepreneurship involves recognizing business opportunities, managing risk, and mobilizing resources to create value and bring a project to fruition. An entrepreneur undertakes the formation of an organization by identifying potential demand and transforming it into supply. Successful entrepreneurs search for and exploit changes as opportunities, believing in increasing value and customer satisfaction. Entrepreneurship provides employment, increases purchasing power, and promotes regional development. However, entrepreneurs face issues in selecting and financing their business, choosing an appropriate legal structure, locating it, and finding suitable manpower.
This document discusses creativity, innovation, and entrepreneurship. It defines each concept and explains their importance both individually and how they work together to drive societal progress. Creativity involves novel ideas, innovation combines creative ideas into new products and services, and entrepreneurship brings innovations to market. Together, creativity, innovation, and entrepreneurship have built modern society through continuous development. The document encourages individuals to foster their creativity and look for ways to solve unmet needs through entrepreneurship.
Determination is the ability to remain committed during difficulties. An example is Deborah Meaden who failed in her first business but continued working hard and eventually succeeded. Initiative means making the first move, like Mark Zuckerberg who started Facebook for his campus and it became global. Entrepreneurs must take risks for potential success or damage, such as Richard Branson who has made many losses to achieve his current wealth. Good decision making is important for the best business outcomes, exemplified by Peter Jones who chose a profitable new business area.
The document discusses several factors related to entrepreneurial motivation and characteristics. It outlines that locus of control, need for achievement and independence, and willingness to take risks are key motivations. Entrepreneurial characteristics are shaped by one's childhood, education, values, age, work history, role models, and support systems. The document also examines background, motivational, economic, and reward factors that influence entrepreneurship. Finally, it outlines various personal, environmental, financial, and societal barriers that entrepreneurs may face.
This document discusses entrepreneurial motivation and provides tips for starting a business. It outlines personal motivations one might have for entrepreneurship like expressing individuality or achieving goals. It also discusses enemies of entrepreneurship like laziness or fear. The document recommends countering these enemies through self-awareness and persistence. Finally, it emphasizes that a well-crafted business plan can guide a company, engage investors, and fascinate potential supporters.
The document discusses the entrepreneurial mindset and what makes an entrepreneur. It defines entrepreneurship as taking risks and having creative ideas to start a business. It profiles several famous entrepreneurs like Walt Disney, Bill Gates, and Steve Jobs. While business plans are important, some very successful companies were started without formal plans by entrepreneurs who just took action. The document also discusses risks of entrepreneurship like financial and career risks and how to balance work and personal life. It emphasizes qualities of entrepreneurs like seeing opportunities, working hard, and having an optimistic attitude when facing challenges.
This document provides an overview of entrepreneurship and key entrepreneurial concepts. It defines entrepreneurship and differentiates between entrepreneurs and businessmen. It discusses the roles and social responsibilities of entrepreneurs toward customers, society, suppliers, staff, competitors, and country. The document also examines the personal traits and competencies of successful entrepreneurs, including personal initiative, seizing opportunities, endurance, being an information seeker, commitment, efficiency, systematic planning, creative problem solving, self-confidence, assertion, and power/authority. Finally, it introduces e-business, distinguishing it from e-commerce, and discusses online marketing communication tools like direct email marketing and online catalogs.
Introduction to entreprenershipunit i to vanandmohandass
Introduction, Meaning Characteristics, Factors, Functions, Types, Challenges, Women Entrepreneurship, MSMEs, Business Plan & Model, Feasibility analysis, etc..
Entrepreneurship is one of the most important topics to which we should give more attention. Governments have to promote entrepreneurship culture in ordre to boost its economy and eliminate social problems through Social entrepreneurship. The presentation's plan :
I. What is entrepreneurship
II. Why choosing to become entrepreneur ?
III. What are the main steps into entrepreneurship ?
IIII. Why most entrepreneurs fail in business ?
1) Innovation is the introduction of a new idea, product or process into the marketplace. It involves invention plus commercialization.
2) Organizations must innovate on a continuing basis to survive in a rapidly changing economy. The goals of innovation include improving quality, creating new markets, and reducing costs and environmental damage.
3) Sources of innovation include organizational structure, management tenure, slack resources, and interunit communications. Types of innovation include product/process, open/closed, incremental/radical, and modular/architectural innovations.
2016 - 1. The concept of Innovation and Innovation Management. The type of in...Nadia Lushchak
The document provides an overview of innovation and innovation management. It defines innovation as the process of turning opportunities into new ideas and implementing them successfully. Innovation is important because it allows companies to adapt, gain competitive advantages, and drive economic growth through "creative destruction." The document also discusses different types of innovation like incremental, radical, and disruptive innovation. It examines historical models of innovation and outlines innovation management as the process of transforming inventions into innovations that achieve sustained competitive advantages. Finally, it discusses core abilities needed to manage innovation and presents an innovation process model.
Entrepreneurs possess characteristics that help economies and societies. They take risks to innovate factors of production and shift resources to higher productivity. Definitions describe entrepreneurs as adventurers who organize businesses and assume risks. Successful entrepreneurs enjoy challenges but are careful planners who attribute success to hard work. As leaders, entrepreneurs have qualities like selfless dedication, purpose, vision, courage, conviction, enthusiasm, integrity, and tact. They are positive thinkers who make decisions by carefully identifying problems, gathering data, analyzing options, selecting solutions, and implementing them.
The document defines an entrepreneur as someone who creates a new business while taking risks and uncertainties in order to make a profit. It discusses various theories of entrepreneurship including economic, sociological, and psychological theories. It also covers characteristics, types, functions, and barriers of entrepreneurs. The stages of the entrepreneurial process include discovery, concept development, resourcing, actualization, and harvesting. Entrepreneurial culture and its components that promote entrepreneurship are also summarized.
The document discusses innovation and its importance for entrepreneurship. It defines innovation as creating new combinations of nature, labor, and capital to exploit opportunities through new or improved products, services, processes, techniques, or ideas. Successful innovation requires purposefully searching for sources of change and applying principles to develop, produce, and promote innovations to customers. Entrepreneurs can innovate in many ways within an organization or through new ventures.
The document discusses motivation and factors influencing entrepreneurship. It notes that motivation is important for management and initiates and guides goal-oriented behavior. Both internal factors like ambition and external factors like government support can influence entrepreneurship. The document also examines different motivations for becoming an entrepreneur such as making money, continuing family business, or being creative. It explores measures of entrepreneurial success and how success of a venture can be its own reward.
This document discusses various topics related to entrepreneurship including:
1. Entrepreneurs recognize opportunities where others see chaos, challenge the unknown, and create the future.
2. Successful entrepreneurship is more than just a great idea - it requires taking risks, perseverance, and having the skills to execute an idea.
3. Innovation, new startups, and job creation are important contributions of entrepreneurship to economic development.
4. Entrepreneurship involves identifying opportunities, forming ventures, and managing risks, while entrepreneurs tend to be driven, creative risk-takers focused on pursuing new ideas.
The document discusses entrepreneurship and its role in economic development. It defines an entrepreneur as someone who perceives opportunities, organizes resources to exploit opportunities, and exploits them. Entrepreneurship spurs economic development by creating wealth through new products/services and dispersing economic activities. It also speeds up the use of resources and development of backward regions. When entrepreneurs innovate continuously, they foster new industries and economic growth. Harnessing entrepreneurial talent moves a society from traditional ways to modern industry.
This document discusses innovation and creativity. It defines innovation as implementing something new through a productive process, such as introducing improvements. Creativity is defined as an imaginative process that generates new ideas through conception. The document lists ways to improve innovation skills, such as focusing on changing behaviors rather than technical skills. It also provides tips to improve creativity skills, such as writing and trying challenges. Overall, the document promotes developing innovation and creativity in the workplace to solve problems and attract employees.
The document discusses entrepreneurship, defining key terms like income generation, self-employment, and entrepreneurship. It identifies the four factors of enterprise as land, labor, capital, and entrepreneur. Entrepreneurship is described as taking risks to start a productive venture seeking profit. Internal driving forces within a business and external forces outside its control are discussed. The document also covers classifications of entrepreneurship, barriers to entrepreneurship, and the difference between entrepreneurs and managers.
Entrepreneurship involves recognizing business opportunities, managing risk, and mobilizing resources to create value and bring a project to fruition. An entrepreneur undertakes the formation of an organization by identifying potential demand and transforming it into supply. Successful entrepreneurs search for and exploit changes as opportunities, believing in increasing value and customer satisfaction. Entrepreneurship provides employment, increases purchasing power, and promotes regional development. However, entrepreneurs face issues in selecting and financing their business, choosing an appropriate legal structure, locating it, and finding suitable manpower.
This document discusses creativity, innovation, and entrepreneurship. It defines each concept and explains their importance both individually and how they work together to drive societal progress. Creativity involves novel ideas, innovation combines creative ideas into new products and services, and entrepreneurship brings innovations to market. Together, creativity, innovation, and entrepreneurship have built modern society through continuous development. The document encourages individuals to foster their creativity and look for ways to solve unmet needs through entrepreneurship.
Determination is the ability to remain committed during difficulties. An example is Deborah Meaden who failed in her first business but continued working hard and eventually succeeded. Initiative means making the first move, like Mark Zuckerberg who started Facebook for his campus and it became global. Entrepreneurs must take risks for potential success or damage, such as Richard Branson who has made many losses to achieve his current wealth. Good decision making is important for the best business outcomes, exemplified by Peter Jones who chose a profitable new business area.
The document discusses several factors related to entrepreneurial motivation and characteristics. It outlines that locus of control, need for achievement and independence, and willingness to take risks are key motivations. Entrepreneurial characteristics are shaped by one's childhood, education, values, age, work history, role models, and support systems. The document also examines background, motivational, economic, and reward factors that influence entrepreneurship. Finally, it outlines various personal, environmental, financial, and societal barriers that entrepreneurs may face.
This document discusses entrepreneurial motivation and provides tips for starting a business. It outlines personal motivations one might have for entrepreneurship like expressing individuality or achieving goals. It also discusses enemies of entrepreneurship like laziness or fear. The document recommends countering these enemies through self-awareness and persistence. Finally, it emphasizes that a well-crafted business plan can guide a company, engage investors, and fascinate potential supporters.
This document proposes a model of entrepreneurial motivation that integrates aspects of previous models involving the venture startup process and entrepreneurship. The proposed model exhibits the relationship between implementation and outcomes, describing factors that influence the startup decision and sustained entrepreneurial behavior. It incorporates individual characteristics and environmental influences, and suggests entrepreneurs are motivated when they perceive a strong relationship between their strategies and firm outcomes meeting their personal goals and expectations. The model generates five hypotheses for future research testing its framework.
The document provides advice for entrepreneurs on how to start a business and change the world. It recommends starting with an idea, validating the market, building a minimum viable product, selling the product, writing a business plan, iterating based on feedback, and being persistent. The overall message is that those who are determined to change the world through entrepreneurship should pursue their ideas despite challenges.
The document discusses entrepreneurial motivation and related concepts. It provides an outline of topics covered which include the definition of entrepreneurial motivation, sources and models of motivation, and triggers and barriers. It then elaborates on these sections through several slides that define key terms, present models and frameworks, and provide examples. Specific topics covered in more depth include McClelland's needs-based motivational model, factors influencing entrepreneurial intentions and startups, and barriers to entrepreneurship.
The Connection Between Entrepreneurship and PhilanthropyGreg Sarangoulis
An entrepreneur philanthropist is a business owner who uses their profits and resources to help others through social causes. They found hybrid ventures that combine for-profit business models with philanthropic goals to create innovations that benefit society and generate a social profit in addition to financial returns. As the owner of GMI First, Greg Sarangoulis advocates for combining entrepreneurship with philanthropy to create positive change.
The document discusses what motivates entrepreneurs. It outlines several key characteristics of successful entrepreneurs, including optimism, idealism, commitment to a vision, inventiveness, aggressiveness, confidence, tirelessness, and competitiveness. The greatest challenge for serial entrepreneurs is reigniting the initial passion and dedication of their first venture. To stay motivated, entrepreneurs surround themselves with supportive partners and draw inspiration from helping others achieve their dreams. The document also shares advice from entrepreneur Richard Branson on topics like listening to employees, pursuing happiness, finding your passion, and the importance of collaboration.
The document discusses entrepreneurial motivation and competencies. It explains that entrepreneurial motivation comes from three needs: achievement, power, and affiliation. However, achievement motivation is most critical for entrepreneurs as it drives them to overcome challenges and excel. The document also outlines 13 competencies that successful entrepreneurs possess, such as initiative, seeing and acting on opportunities, persistence, information seeking, and problem solving. Mastering these competencies is important for effective entrepreneurial performance.
A motivational speech is an emotional speech aimed at urging and stimulating a group to pursue goals and succeed in their personal and professional lives. It combines real life stories and situations to persuade the audience to change their behavior or agree with a certain position. Effective motivational speeches use an imperative mood and action-oriented phrases. Speakers must research social and pragmatic factors about the audience and choose a standard structure like Monroe's five-stage motivational sequence or a comparative advantages pattern to organize the speech and clearly convey its message.
Motivation refers to factors that arouse, direct, and sustain human behavior. There are several theories of motivation, including drive theory which proposes that internal drives or needs push people towards goals, and incentive theory which suggests that external rewards or goals pull people to act. Maslow's hierarchy of needs theory also explains motivation and proposes that people are motivated to fulfill lower level basic needs before pursuing higher level growth needs. Managers can create a motivating work climate by setting clear expectations, being fair and consistent, developing teamwork, recognizing contributions, allowing autonomy and growth, and addressing individual needs and values.
The document provides information about the Department of Biomedical Engineering at George Washington University, including that it has 6 full-time faculty and 178 undergraduate students, focuses on areas like medical imaging and instrumentation, and outlines academic policies and resources for students in the biomedical engineering program.
The document discusses the concepts of creativity, innovation, and entrepreneurship. It defines creativity as generating unique ideas, innovation as implementing creative ideas, and entrepreneurship as commercializing innovations. Various techniques for stimulating creativity are also presented, such as brainstorming, lateral thinking, and mind mapping.
This document discusses business opportunity identification. It defines opportunity as a situation enabling entrepreneurs to offer marketable products or services. Opportunities emerge when needs/problems are identified that existing products don't satisfy. The document outlines approaches to identifying opportunities by observing environmental changes, recognizing unmet needs/problems, and discovering solutions. It provides examples of how various social and technological changes create new opportunities.
The document summarizes an internship the author completed in spring 2016 with a forensic pathologist. During the 180-hour internship, the author assisted with autopsies at a hospital morgue and coroner's office, learning to recognize causes of death. The author established goals around understanding autopsy procedures, determining causes of death, and operating record systems. Through various duties like brain removal and organ examination, the author gained experience and met all internship goals.
The document discusses the major competencies required to be a successful entrepreneur according to a study conducted by the Entrepreneurship Development Institute. It identifies 18 competencies including initiative, seeing and acting on opportunities, persistence, information seeking, concern for high quality work, commitment to work contracts, efficiency orientation, systematic planning, problem solving, self-confidence, assertiveness, persuasion, use of influence strategies, monitoring, and concern for employee welfare.
The document discusses different types of business entities that can be formed in Malaysia. It covers sole proprietorships, partnerships, and private limited companies.
Sole proprietorships are owned by one person whose liability is unlimited. Partnerships involve two or more owners who jointly own and operate the business and share profits and losses. Private limited companies have a separate legal identity from their owners and owners' liabilities are limited to their shares. The document provides details on establishing and registering each type of business entity under Malaysian law.
The document discusses business regulations and support systems for entrepreneurs in Malaysia. It outlines various government approvals and licenses required for setting up businesses, including manufacturing licenses, environmental approvals, and safety certifications. It also describes infrastructure and facilities provided by the government to support entrepreneurs, such as industrial estates, free industrial zones, and utilities. Finally, it examines the financial assistance available to entrepreneurs from government ministries and agencies, including various loan and grant programs.
The document proposes an updated idea for a personal motivation mobile application. The original idea involved an app connected to an electronic device that administered shocks if daily goals were not met. The updated idea involves an app with plugins for social media platforms that monitors daily activities and goals, and reports whether goals were reached, without the electronic shock device. Eliminating the shock device simplifies partnerships and increases exposure through social media, but also eliminates revenue from device sales. The value proposition of the new app includes tracking calories from a pedometer, sharing success through social contacts, accountability from sharing goal completion, and daily motivational messages.
My presentation at Helsinki Metropolitan Entrepreneurship Academy on 17th of November 2009. Original title "How to International in a Post-Industrial World". Title changed to better reflect the slides, although the content of the talk was more about internationalization perspectives from the Finnish perspective.
Infotention word credit to Howard Rheingold. Connectivism word credit to George Siemens. Be your own boss credit to Robin Good. Check out the stuff these guys produce.
This document contains a presentation on entrepreneurship and achievement motivation given by Dr. K. Balasubramanian. It includes quotes on career, money, confidence, and success from prominent figures like Bill Clinton, Bill Gates, and Oscar Wilde. It also provides tips for entrepreneurs such as identifying opportunities, traits of successful entrepreneurs, and examples of growing business opportunities in fields like agriculture, biotechnology, and information technology.
This document discusses research on how to enhance business growth and increase the number of scale-up companies. It examines how personal ambition and the articulation of ambition may be influenced by internal and external factors like social norms [Research Question 1]. Place may also play a role in assumed levels of ambition and the acquisition of resources [Research Question 2]. Prior research found high-aspiration entrepreneurs who are mobile create more jobs and growth [Drivers of Ambition]. Analysis of UK business data showed motivations like growth expectations influence performance, and autonomy and family motives increase business survival [Business Performance and Motivations]. The research will develop a new model of ambition and business growth by drawing on various data sources and challenging assumptions [Research Process].
This document discusses various topics related to entrepreneurship including what defines entrepreneurs and intrapreneurs, characteristics of successful entrepreneurs, planning a business, and challenges of business growth and managing family businesses. Key points covered include:
- Entrepreneurs notice opportunities and mobilize resources to create new products/services, while intrapreneurs do this within large companies.
- Common traits of successful entrepreneurs include being original thinkers, risk takers, and having technical skills and strong planning abilities.
- As businesses grow, entrepreneurs often feel pressure to formalize processes to facilitate focus, organization and profits, though this may compromise their entrepreneurial spirit.
- Managing family businesses poses challenges as families and friends can fight, especially over money
This document provides an overview of entrepreneurship and key related concepts. It discusses how entrepreneurs contribute to the economy by turning demand into supply, providing venture capital, jobs, and promoting societal changes. Entrepreneurship involves recognizing opportunities, testing them in the market, and gathering resources to start a business. The entrepreneurial start-up process has five components - the entrepreneur, opportunity, resources, organization, and management. Historical perspectives on entrepreneurship from the 1960s to 1990s are also presented.
The document discusses entrepreneurship and provides definitions and concepts related to entrepreneurship. It defines entrepreneurship as creating something new of value by devoting time and effort while accepting risks and rewards. An entrepreneur is an individual who actively forms or leads their own business. The key stages of entrepreneurship are identifying opportunities, developing a business plan, acquiring resources, and managing the new venture. The document also outlines benefits like independence and potential for high profits but also drawbacks such as uncertainty, risk of losing investments, long hours, and stress.
The document discusses various topics related to entrepreneurship including what entrepreneurs are, their common characteristics, how to plan to become an entrepreneur, challenges of business growth, managing a family business, and corporate intrapreneurship. Specifically, it notes that entrepreneurs notice opportunities and mobilize resources to create new products/services, they often have traits like risk-taking and self-confidence, planning involves considering one's motivations and market research, and growing businesses requires more formal structures while intrapreneurs can foster innovation within companies.
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Motivations for Entrepreneurship presentation
1. MOTIVATIONS FOR
ENTREPRENEURSHIP
Ute Stephan, Mark Hart, Tomasz Mickiewicz,
Cord-Christian Drews,
Aston Business School & Enterprise Research Centre
& IFF Research
Commissioned by The Department for Business,
Innovation And Skills
2. Observations
• Increases in rates of entrepreneurship and very small businesses
during recession and subsequent economic downturn
• Renewed focus on how motivations (e.g., necessity entrepreneurship)
influence business survival and performance
Aims
1) Unpack motivations for entrepreneurship
2) Understand whether and how entrepreneurial motivations change
3) Assess how start-up motivations link with business survival and
success
Starting point
3. Assessing what we know: Rapid evidence
review on motivations for entrepreneurship
(Stephan, Hart & Drews, 2015, available on ERC website)
Dedicated study to deepen our understanding
of motivations for entrepreneurship, 2
components:
• Re-survey of 1000 entrepreneurs (first
identified in Global Entrepreneurship Monitor)
• In-depth qualitative interviews with 40
entrepreneurs
Approach
21%
12%
2%
6%
59%
Active
Dormant
Sold
Closed
Nascent
Sample Entrepreneurial
Motivation Survey (N=1000)
6. Autonomy
and Better
Work
Associations among Start-up Motivations
Challenge
and
Opportunity
Financial
Motivations
Family and
Legacy
Opportunity
Necessity
(no better
choices for
work)
Positive association
Negative association
Growth
Expectations
7. Tipping points
= circumstances that trigger individuals to take steps to set-up a business
Commonly mentioned tipping points that interacted:
• Redundancy / loss of job
• A chance business opportunity
• Changing family circumstance / life stage
• Advice or inspiration from an experienced friend, colleague or advisor
• Realisation that the nature of desired work necessitates self-employment
From Motivations to Action: Tipping points
9. Comparison of start-up with current motivations for running a business
(active business-owners only)
Entrepreneurial motivations are remarkably stable
• Slight increase in the prevalence of opportunity motivation
• Increase in importance of autonomy motivation
• Slight decrease in growth expectations
A) Does running a business change
entrepreneurial motivations?
10. Comparison of entrepreneurs who started prior to (2002-08) and during
the economic downturn (2009-13)
The recession triggered changes in motivation
• No significant change in opportunity-necessity motivation
• Increase in importance of challenge, financial and family start-
up motivations
• Increase in growth expectations
B) Did the recession change motivations?
11. Motivation Types and the Recession
3.7
3.3
3.0
1.8
3.8
3.5
3.2
1.9
1.0
2.0
3.0
4.0
5.0
Autonomy &
Better work
Challenge &
Opportunity
Financial Family & Legacy
pre-recession (N=257)
recession (N=264)
Importance
12. Growth Expectations and the Recession
5% 1%
60%
47%
25%
33%
7%
14%
3% 5%
20+ jobs
6-19 jobs
1-5 jobs
no growth
job loss
Pre-recession
(n=236)
Recession
(n=227)
Over half (52%) of the
entrepreneurs starting during
the recession expect to grow
their business
Compared to just over one-
third (35%) pre-recession Growth
Expectations
NoGrowth
Expectations
13. • Overall, few differences in tipping points with recession
• Redundancy does not equate to necessity entrepreneurship
Insights from the In-Depth Interviews
Financial consultant
“If the recession hadn't come up I wouldn't be able to do this … I would
be sitting behind a desk … it is probably the best thing that could have
happened to me.”
15. • Entrepreneurial Outcomes: Active, Closed*, (Still) Nascent, Sold,
and Dormant businesses
• Survival (active business vs. closed business*)
• Performance of active businesses:
• Job Growth (growth in employees since start-up)
• Innovation (product/service new to customers and no/few other
businesses offering the same products/services)
• Exporting (% customers living outside UK)
*detailed analyses of closed businesses available in the report
Business Performance
16. Entrepreneurial Outcomes
and Opportunity-Necessity Motivations
Active
(53%)
Sold (2%)
Closed
(15%)
Dormant (8%)
Nascent
(23%)
Active
(62%)
Sold (2%)
Closed
(11%)
Dormant (5%)
Nascent
(20%)
Necessity (N=240)Opportunity (N=594)
no significant differences
between opportunity and
necessity entrepreneurs
17. Significant differences in
importance ratings
(N=998)
• Entrepreneurs of closed
businesses attribute less
importance to challenge,
financial and family
motives
• Nascent entrepreneurs
and those who sold their
business attribute most
importance to these
three motives amongst
the five groups of
entrepreneurs
• Other groups in-between
Entrepreneurial Outcomes
and Motivation Types
3.8
3.3
3.0
1.9
3.6
3.2
3.0
1.5
3.8
3.6
3.3
2.1
3.9
3.7
3.4
1.9
3.6
3.3
3.2
1.8
1.0
2.0
3.0
4.0
5.0
Autonomy &
Better work
Challenge &
Opportunity
Financial Family &
Legacy
Active Closed Nascent Sold Dormant
Importance
18. Significant differences in
growth expectations
(N=950)
• About one-third of
closed and dormant
businesses had growth
expectations at start-up –
lowest among all groups
• About two-thirds of
nascent entrepreneurs
and those who sold their
business had growth
expectations at start-up –
highest among all groups
• Active businesses in-
between
Entrepreneurial Outcomes
and Growth Expectations
4% 3% 3%
11% 7%
53%
63%
32%
22%
57%
28%
20%
36% 39%
18%
11% 9%
16% 17%
9%
4% 6%
13% 11% 9%
Active
(N=576)
Closed
(N=117)
Nascent
(N=183)
Sold
(N=18)
Dormant
(N=56)
20+ jobs
6-19 jobs
1-5 jobs
no growth
job loss
NoGrowth
Expectations
Growth
Expectations
19. • Entrepreneurial Outcomes: Active, Closed*, (Still) Nascent, Sold,
and Dormant businesses
• Survival (active business vs. closed business*)
• Performance of active businesses:
• Job Growth (growth in employees since start-up)
• Innovation (products/services new to customers and no/few other
businesses offering the same products/services)
• Exporting (% customers living outside UK)
*detailed analyses of closed businesses available in the report
Business Performance
20. Growth 29%
No change 67%
Decline 5%
Job Growth
(N= 365 active businesses)
>25% of customers outside UK 18%
1-25% of customers outside UK 31%
No exports 51%
Exporting
(N= 364 active businesses)
High 9%
Some 48%
None 43%
Innovation
(N= 356 active businesses)
Growth 19%
No change 78%
Decline 3%
Job Growth
(N= 125 active businesses)
>25% of customers outside UK 11%
1-25% of customers outside UK 21%
No exports 68%
Exporting
(N= 125 active businesses)
High 6%
Some 42%
None 52%
Innovation
(N= 124 active businesses)
Necessity (N=240)Opportunity (N=594)
Performance of Opportunity and Necessity
Entrepreneurs
21. In regression analyses controlling for alternative explanations:
- Motivations explain 3% to 10% of the variation in business
performance (job growth, innovation, exporting)
- Growth expectations at start-up are the strongest motivational
influence on business performance
- Challenge, Financial and Family motivations influence business
success indirectly via growth expectations
Business Performance and Motivations
23. • Less focus on opportunity-necessity distinction: both opportunity and
necessity businesses perform well and have similar survival rates
• Other motivations are important:
• Across all business types, entrepreneurs say autonomy is their
most important motivator
• Businesses created by autonomy and family-motivated
entrepreneurs have a higher chance of survival
• Recession-era entrepreneurs often saw redundancy as an opportunity,
and were highly motivated and ambitious when starting their business
Entrepreneurial Motivations are Complex
24. • Ambition is the most important factor for business success (job
creation, innovation, exporting)
• Other motivations influence business success mainly via growth
expectations, they highlight different reasons for ambitions:
• Challenge and opportunity
• Financial motivations (security, wealth)
• Family enterprise and legacy building
Ambition is Important for Success
26. THANK YOU
Contact:
Prof. Ute Stephan and Prof. Mark Hart
U.Stephan@aston.ac.uk and Mark.Hart@aston.ac.uk
Aston Business School/Enterprise Research Centre
Economics &Strategy Group
Aston Triangle, Birmingham B4 7ET
28. We explored how motivations relate to entrepreneurs’ socio-demographic
background, their personal situation and characteristics of the business
Example:
U-shaped relationships with
Opportunity- and Necessity
Motivation
See report for more information
Correlates of Start-up Motivations
0.2.4.6.81
probabilitypredictions
16 6520 30 40 50 60
age (at time of interview)
opportunity motive by age necessity motive by age
Predicted Probabilities of Entrepreneurship by Motivation and Age
29. • We explored how motivations relate to entrepreneurs’ socio-
demographic background, their personal situation and characteristics
of the business
• Clearest associations for socio-demographic background
• Education
• Household income
• Age
• Gender
Correlates of Start-up Motivations
31. Age
• U-shaped relationships with Opportunity- and Necessity Motivation
- Negative relationship with autonomy and growth expectations
0.2.4.6.81
probabilitypredictions
16 6520 30 40 50 60
age (at time of interview)
opportunity motive by age necessity motive by age
Predicted Probabilities of Entrepreneurship by Motivation and Age
32. • Entrepreneurs’ personal situation
• Cross-over with previous job positively related to importance attributed
to autonomy, challenge, financial and family motivations
• Necessity entrepreneurs appear to lack role models (know no other
entrepreneurs), while role models are positively related to nearly all other
motivations
• No systematic relationships with employments status (beyond
opportunity-necessity motivations), and family commitments
• Characteristics of the entrepreneurs’ business
• Starting together with others – opportunity, challenge, and growth
expectation
• Starting together with other family members – financial and family motives
• Starting-alone – necessity and autonomy motivated
• Various weak associations with industry sectors
Correlates of Start-up Motivations
33. From Motivations to Action: Tipping points
Tipping points
= circumstances
that trigger
individuals to take
first steps to set-
up a business
14%
13%
12%
11%
10%
8%
8%
7%
7%
7%
6%
5%
5%
4%
4%
4%
3%
3%
2%
2%
2%
Unhappy / dissatisfied with work
Had skills / qualifications for job
Redundancy
Needed/wanted (extra) income
Wanted to be own boss
Felt had a good idea
Already had prospective client(s)
Encouragement from others
Could not find a job / Lack of jobs
Had saved / secured finance to start
Saw a gap in the market
Approach from business partner(s)
Thought about it for a while
Type of work only for self-employed
To occupy self /earn when retired
Other
Time was right for me personally
Support/advice from a public…
Needed flexibility for…
No reason / DK
Recession / Economic Downturn
Entrepreneurial Motivation Survey
N=1000, multiple answers,
answers mentioned <4% omitted
34. Tipping points also interact with longer term motivations which are
activated/’tipped by’ becoming truly unhappy in their job, being inspired by
a conversation or opportunity, or needing to adapt to changing family
circumstance
Tipping Points in In-Depth Interviews
Software developer
“It was a combination of things. We were relocating. It was a chance to
start afresh. I’d been used to working in a normal working environment
and I wanted to get the life-balance thing changed a little. Going self-
employed would allow me to have the flexibility for childcare because my
wife was working full time. That’s the main reasons for going into it.”
35. • Closed and active businesses mentioned similar types of start-up
tipping points (no in-depth interviews with other businesses)
• Both mentioned redundancy or job loss, dissatisfaction with their previous
job or role, taking advantage of an opportunity such as spontaneous client
demand, change in legislation, or change in family circumstances.
• Both would have appreciated support from an experienced business
advisor to better understand and plan their business in their business’s
earliest days; this would have helped them to stabilise more quickly, save
money, make fewer mistakes and feel more confident in general
appears to be desired especially by entrepreneurs lacking experience
Entrepreneurial Outcomes and Tipping
Points – Interview Insights
36. Differences in opportunity-
necessity motivation not
significant
Entrepreneurial Outcomes
and Necessity- Opportunity Motivations
62%
53%
58%
72%
51%
21%
31%
26%
22%
31%
11% 11%
14%
6%
15%
6% 6% 2% 3%
Active
(N=593)
Closed
(N=121)
Nascent
(N=209)
Sold
(N=18)
Dormant
(N=59)
Other
Mixed
Necessity
Opportunity
37. “Entrepreneurial Journey” of Necessity-motivated
Entrepreneurs (N=240)
Active
(53%)
Sold (2%)
Closed
(15%)
Dormant (8%)
Nascent
(23%)
Growth (19%)
No change (78%)
Decline (3%)
Performance: Job Growth
(N= 125 active businesses)
>25% of customers outside UK (11%)
1-25% of customers outside UK (21%)
No exports (68%)
Performance: Exports
(N= 125 active businesses)
High (6%)
Some (42%)
None (52%)
Performance: Innovation
(N= 124 active businesses)
38. “Entrepreneurial Journey” of Opportunity-motivated
Entrepreneurs (N=594)
Active
(62%)
Sold (2%)
Closed
(11%)
Dormant (5%)
Nascent
(20%)
Growth (29%)
No change (67%)
Decline (5%)
Performance: Job Growth
(N= 365 active businesses)
>25% of customers outside UK (18%)
1-25% of customers outside UK (31%)
No exports (51%)
Performance: Exports
(N= 364 active businesses)
High (9%)
Some (48%)
None (43%)
Performance: Innovation
(N= 356 active businesses)
39. • ‘Autonomy & better work’ – The importance attached to seeking
freedom and flexibility and better work opportunities as motivations to
start a business.
• ‘Challenge & opportunity’ – The importance attached to seeking
personal challenge, fulfilling a vision, and opportunities to use existing
skill and receiving recognition as motivations to start a business.
• ‘Financial motives’ – The importance of seeking financial security,
larger income and wealth as motivations to start a business.
• ‘Family & legacy’ – The importance of seeking to continue or create a
family business as motivation to start a business.
A New Taxonomy of Motivations
40. Motivation Facets Importance of reasons for starting up a business
Percent
“important”
Autonomy & better
work
(mean importance 3.8)
To have considerable freedom to adapt my own
approach to work
73%
To have greater flexibility for my personal and family
life
63%
To have better work opportunities 55%
Challenge &
Opportunity
(mean importance 3.4)
To make use of an existing skill 72%
To challenge myself 71%
To fulfil a personal vision 64%
To achieve something and get recognition for it (e.g.
respect from friends or peers)
50%
To make a positive difference to my community,
others or the environment
40%
To achieve a higher position for myself in society 16%
Financial
(mean importance 3.1)
To give myself, my partner and children financial
security
50%
To earn a larger personal income 46%
To have a chance to build great wealth or a very high
income
25%
Family & Legacy
(mean importance 1.9)
To build a business my children can inherit 18%
To follow the example of a person that I admire 13%
To continue a family tradition 9%