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ENTREPRENEURS STAY ON TOP OF THE WORLD 
EXPERIENCE VLERICK 2014 
PROF. HANS CRIJNS, PARTNER
VLERICK BUSINESS SCHOOL 
Vlerick Business School is to substantially contribute to the 
development of management and entr...
ENTREPRENEURSHIP AND MANAGEMENT 
© Vlerick Business School 
3 
ENTREPRENEURSHIP 
MANAGEMENT 
Initial 
discovery 
Opportuni...
Today’s businesses, especially 
the large ones, simply will not 
survive in this period of rapid 
change and innovation un...
The economy as a thundercloud 
Job creation Job destruction 
Bron: David Birch, MIT and Cognetics Inc., USA in ‘Dynamic En...
“FORTUNE TOP 500” COMPANIES 
1996 
Mitsubishi 1 
Mitsui 2 
Itochu 3 
Wal-mart 4 
Microsoft 219 
2006 
137 
348 
328 
1 
41
“FORBES” MOST VALUABLE CO’S 
October 2011 
Apple 1 
Exxon Mobil 2 
Nestlé 5 
Microsoft 6 
Google 12 
General Electric 20
“Every morning in Africa, a gazelle wakes up. 
It knows it must run faster than the fastest lion or it will 
be killed. 
E...
IMAGES OF “ENTREPRENEURSHIP”? 
© Vlerick Business School
STUDENT’S INTEREST IN ENTREPRENEURSHIP 
© Vlerick Business School 
11 
12% 
10% 
7% 
15% 
19% 
33% 
10% 
67% 
Vlerick 
USA...
ENTREPRENEURS ? 
© Vlerick Business School
What is in your view a « good» 
entrepreneur? 
Important characteristics? 
Conditions for a « good idea » ? 
13
ENTREPRENEURIAL ATTRIBUTES 
Initiative 
Strong persuasive powers 
Moderate rather than high risk-taking ability 
Flexibili...
© Vlerick Business School
16 
“The reasonable man adapts 
himself to the world, 
the unreasonable one persists in trying 
to adapt the … to …. 
Ther...
FAILURE? 
“The greatest glory in living 
lies not in never falling, 
but in rising every time we fall." 
© Vlerick Busines...
How entrepreneurial is your 
organisation/company/business 
unit/department… ? 
20 
E.O. Perception “As is”?
ENTREPRENEURSHIP AND MANAGEMENT 
© Vlerick Business School 
21 
ENTREPRENEURSHIP 
MANAGEMENT 
Initial 
discovery 
Opportun...
STRATEGY  ENTREPRENEURIAL ORIENTATION 
An entrepreneurial firm is one that engages in 
product-market innovation, underta...
INNOVATIVENESS 
“A willingness to introduce novelty through 
experimentation and creative processes 
aimed at developing n...
PROACTIVENESS 
“A forward-looking perspective characteristic of a 
marketplace leader that has the foresight to 
seize opp...
RISK TAKING 
“Making decisions and taking action without 
certain knowledge of probable outcomes; some 
undertakings may a...
LEO HEO 
Stable 
Reliable quality 
Secure 
Risk Averse 
Proven Track Record 
Continuous improvement 
© Vlerick Business Sc...
INGREDIENTS OF E.O. 
Imagination and creativity 
Promoting creation, distribution and usage of knowledge 
Supporting infor...
DECLINE OF THE GENIUS 
© Vlerick Business School 
28 
Age % divergent thinking 
3 -5 98 % 
8 -10 32 % 
13 -15 10 % 
(from ...
External 
environment 
Ingredients 
of EO 
What does 
it require? 
Entrepreneurial 
orientation 
EO 
Performance
WHAT DOES IT REQUIRE ? 
(LINK WITH PERFORMANCE !) 
Devise a coherent strategic focus 
Assessment of emerging entrepreneuri...
THE PARADOX 
“Nothing can start / be created without 
enthousiasm and creativity …, 
… but nothing can last without system...
FEEL LIKE SOME MORE? 
• In search of new business Opportunities (start 2 
October) 
• SME Excellence (start 12 November) 
...
ENTREPRENEURS, 
STAY ON TOP OF THE 
WORLD 
HANS CRIJNS 
Multi room 2 
DEFINING YOUR PATH 
TO SUCCESS 
INGE DECLIPPELEER 
L...
Entrepreneurs stay on top of the world - Prof. Hans Crijns
Entrepreneurs stay on top of the world - Prof. Hans Crijns
Entrepreneurs stay on top of the world - Prof. Hans Crijns
Entrepreneurs stay on top of the world - Prof. Hans Crijns
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Entrepreneurs stay on top of the world - Prof. Hans Crijns

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Entrepreneurs stay on top of the world - Prof. Hans Crijns

  1. 1. ENTREPRENEURS STAY ON TOP OF THE WORLD EXPERIENCE VLERICK 2014 PROF. HANS CRIJNS, PARTNER
  2. 2. VLERICK BUSINESS SCHOOL Vlerick Business School is to substantially contribute to the development of management and entrepreneurship in an International context by carrying out Academic Research - Knowledge Creation - and by offering high quality Management Education - Knowledge Transfer. Vlerick Business School intends to actively contribute to networking amongst its current and former participants and to create forum action for the Management Community, Government and Society. © Vlerick Business School 2
  3. 3. ENTREPRENEURSHIP AND MANAGEMENT © Vlerick Business School 3 ENTREPRENEURSHIP MANAGEMENT Initial discovery Opportunity refinement Market making Resource acquisition (New) co-ordination of (new) resources Co-ordination of old resources/on-going activity Discovery process Exploitation process
  4. 4. Today’s businesses, especially the large ones, simply will not survive in this period of rapid change and innovation unless they acquire entrepreneurial competences. Peter Drucker 1985 (!) © Vlerick Business School 4 AG - The Entrepreneurial Manager 200 5
  5. 5. The economy as a thundercloud Job creation Job destruction Bron: David Birch, MIT and Cognetics Inc., USA in ‘Dynamic Entrepreneurship in Central and Eastern Europe’, 1993. Top 500 Big Small
  6. 6. “FORTUNE TOP 500” COMPANIES 1996 Mitsubishi 1 Mitsui 2 Itochu 3 Wal-mart 4 Microsoft 219 2006 137 348 328 1 41
  7. 7. “FORBES” MOST VALUABLE CO’S October 2011 Apple 1 Exxon Mobil 2 Nestlé 5 Microsoft 6 Google 12 General Electric 20
  8. 8. “Every morning in Africa, a gazelle wakes up. It knows it must run faster than the fastest lion or it will be killed. Every morning a lion wakes up. It knows it must run faster than the slowest gazelle or it will starve to death. It doesn’t matter whether you are a lion or a gazelle. When the sun comes up, you better start running”. - Thomas L. Friedman (in “The World Is Flat”) -
  9. 9. IMAGES OF “ENTREPRENEURSHIP”? © Vlerick Business School
  10. 10. STUDENT’S INTEREST IN ENTREPRENEURSHIP © Vlerick Business School 11 12% 10% 7% 15% 19% 33% 10% 67% Vlerick USA EU B Within 30 years after completing studies Within 3 years after completing studies Source: Ministry of Economical Affairs/Netherlands
  11. 11. ENTREPRENEURS ? © Vlerick Business School
  12. 12. What is in your view a « good» entrepreneur? Important characteristics? Conditions for a « good idea » ? 13
  13. 13. ENTREPRENEURIAL ATTRIBUTES Initiative Strong persuasive powers Moderate rather than high risk-taking ability Flexibility Creativity Problem-solving ability Need for achievement Imagination High belief in control of one’s own destiny Leadership Hard work N° 1 Predicting value : ???? © Vlerick Business School
  14. 14. © Vlerick Business School
  15. 15. 16 “The reasonable man adapts himself to the world, the unreasonable one persists in trying to adapt the … to …. Therefore all progress depends on the …….. man” (G.B. Shaw)
  16. 16. FAILURE? “The greatest glory in living lies not in never falling, but in rising every time we fall." © Vlerick Business School (Nelson Mandela)
  17. 17. How entrepreneurial is your organisation/company/business unit/department… ? 20 E.O. Perception “As is”?
  18. 18. ENTREPRENEURSHIP AND MANAGEMENT © Vlerick Business School 21 ENTREPRENEURSHIP MANAGEMENT Initial discovery Opportunity refinement Market making Resource acquisition (New) co-ordination of (new) resources Co-ordination of old resources/on-going activity Discovery process Exploitation process
  19. 19. STRATEGY  ENTREPRENEURIAL ORIENTATION An entrepreneurial firm is one that engages in product-market innovation, undertakes somewhat risky ventures, and is first to come up with “proactive” innovations, beating competitors to the punch. A non-entrepreneurial firm is one that innovates very little, is highly risk averse, and imitates the moves of competitors instead of leading the way. Danny MILLER (Canada) © Vlerick Business School Entrepreneurial Orientation (EO) = Risk Taking Proactiveness Innovativeness 22 AG - The Entrepreneurial Manager
  20. 20. INNOVATIVENESS “A willingness to introduce novelty through experimentation and creative processes aimed at developing new products and services as well as new processes” Your score : 1 low 2 medium 3 high © Vlerick Business School
  21. 21. PROACTIVENESS “A forward-looking perspective characteristic of a marketplace leader that has the foresight to seize opportunities in anticipation of future demand” Your score : 1 low 2 medium 3 high © Vlerick Business School
  22. 22. RISK TAKING “Making decisions and taking action without certain knowledge of probable outcomes; some undertakings may also involve making substantial resource commitments in the process of venturing forward” Your score : 1 low 2 medium 3 high © Vlerick Business School
  23. 23. LEO HEO Stable Reliable quality Secure Risk Averse Proven Track Record Continuous improvement © Vlerick Business School Opportunistic Dynamic Out of the box Risk taking and sharing New challenges Drastic change LEO VS HEO
  24. 24. INGREDIENTS OF E.O. Imagination and creativity Promoting creation, distribution and usage of knowledge Supporting information and communication infrastructure Social architecture Under no circumstances will all innovations succeed! => Matching Internal capabilities & External opportunities © Vlerick Business School 27
  25. 25. DECLINE OF THE GENIUS © Vlerick Business School 28 Age % divergent thinking 3 -5 98 % 8 -10 32 % 13 -15 10 % (from Ken Robertson, 2006) +25 2 %
  26. 26. External environment Ingredients of EO What does it require? Entrepreneurial orientation EO Performance
  27. 27. WHAT DOES IT REQUIRE ? (LINK WITH PERFORMANCE !) Devise a coherent strategic focus Assessment of emerging entrepreneurial opportunities Integration entrepreneurial pathways with existing activities Timing of strategic decisions in line with environmental requirements ( = speed) Excellence in project execution: 5% inspiration and 95% perspiration © Vlerick Business School
  28. 28. THE PARADOX “Nothing can start / be created without enthousiasm and creativity …, … but nothing can last without systems and control” © Vlerick Business School
  29. 29. FEEL LIKE SOME MORE? • In search of new business Opportunities (start 2 October) • SME Excellence (start 12 November) • Executive Master Class Entrepreneurship & Innovation (start 22 October) © Vlerick Business School 33
  30. 30. ENTREPRENEURS, STAY ON TOP OF THE WORLD HANS CRIJNS Multi room 2 DEFINING YOUR PATH TO SUCCESS INGE DECLIPPELEER Lecture room 1 LEVERAGING YOUR CUSTOMERS MARION DEBRUYNE Lecture room 5

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