EM

Entrepreneurial Mindset

EC

Entrepreneurial Culture

EL

Entrepreneurial Leadership

Presented by :
Andika Dyah Paramita - 1406513224 | Angela Jessica Stephanie - 1406513256
Annisa Ayuningtyas - 1406588654 | Anugrah Adeputra - 1406588686
Arsya Chairunnisa - 1406513312 | Arieta Aryanti - 1406513294
Ayu Meriany Savitri - 1406513331 | Camelia Indah - 1406513376

Content Coverage
Entrepreneurship &
Entrepreneurial Mind Set
Corporate
Entrepreneurship

Strategic
Entrepreneurship
The Innovators DNA
5 skills of Disruptive Innovators

Entrepreneurial Strategy
Generating and Exploiting New Entries

The DNA For The Worlds

Most Innovative Companies

Entrepreneurship &
Entrepreneurial Mind Set

The Nature of Entrepreneurship

Entrepreneurial opportunities
Entrepreneurial action
Knowledge:
Prior knowledge

Knowledge
assessment
Third person
opportunity

Motivation:
Personal
strategy

Entrepreneurial thinking

Motivation:
Desirability
assessment

Entrepreneurial
action First
person
opportunity

How Entrepreneurs Think

Think structurally
1.Superficial similarities
2.Structural similarities

Engage in bricolage
Effectuate
1.Causal process
2.Effectuation process

Cognitive adaptive

Entrepreneurial
Intentions
The motivational
factors that influence
individuals to pursue
entrepreneurial
outcome
1.
2.

Entrepreneurial
self-efficacy
Feasibility
Perceived
desirability
Desirability

Entrepreneur
background and
characteristics
Education
Age
Work history

Role model
support system
Role model
Support system
o Moral-support
network
o Professionalsupport network

Sustainable
entrepreneurship

Entrepreneur whos
focused on preserving nature,
life support, and community
sustainability in the pursuit of
perceived opportunities to
bring future products, process,
and service into existence for
gain where gain
(entrepreneurial action) is
broadly construed to include
economic and non economic
to individuals, the economy,
and development of society.

What me worry?
The Power of Paranoia
Paranoia is one of the key trait
in entrepreneurial success
Paranoia avoid you for being
complacency

How to being smart paranoia

entrepreneur?
1.

2.

3.
4.

Pick you paranoia : paying

attention to the fine points
(the most important things in
you business)
Paranoia parameters:
worrying obsessively,
misplaced paranoia, consider
the degree of severance
Practical paranoia: critical
evaluate everything
Advice to an entrepreneur
question 4 things

Corporate
Entrepreneurship

Corporate Entrepreneurship
Why
Individual tends to search responsibility and strong need for individual
expression and freedom in work environment
Corporate Entrepreneurship
stimulating, capitalizing on, individuals in an organization who think that
something can be done differently and better
Key Elements
-

New business venturing new business

Innovativeness technology innovation
Self-renewal organizational change
Proactiveness initiative and risk taking

Entrepreneur vs Traditional Management

Entrepreneur Management

Traditional Management

Strategic orientation

Resources do not constraint the

strategic thinking

Use the resources efficiently

Commitment to opportunity

Entrepreneurial orientation toward Place considerable emphasis on

opportunity
information from data collection
and analysis

Commitment to resources

Minimize the resources that would

required in a pursuit of
opportunity

Control of resources

Less concerned about the

ownership and more about having
access to others resources

Commit large scale resource to an

opportunity

Entrepreneur vs Traditional Management

Entrepreneur Management

Traditional Management

Management structure

Organic few layers of

bureaucracy

Formalized bureaucracy

Reward philosophy

Compensate based on their

contribution toward opportunity

Compensate based on their

responsibilities

Growth orientation

Desire to growth at rapid pace

Prefer at a steady and well manage

growth

Entrepreneurial culture

Encourage creative ideas and

outputs

Interested in ideas that revolve

around controlled resources

Unlikely to have purely entrepreneurially managed or purely traditionally managed,

most firms fall somewhere in between

Characteristics of an
Entrepreneurial Environment

Operates on frontiers of technology

Trial and error encouraged
No opportunity parameters
Multidiscipline teamwork approach
Volunteer program
Sponsors and champions available

New ideas encourage

Failures allowed
Resources available and accessible
Long term horizon
Appropriate reward system
Support of top management

Leadership Characteristics of
Corporate Entrepreneurs

Understands the environment

Creates management options
Encourages open discussion
Persists

Is visionary and flexible

Encourages teamwork
Builds a coalition of supporters

Entrepreneurial Strategy
Generating and Exploiting New Entries

The set of decisions, actions, and reaction that first generate and then exploit over time,
a new entry in a way that maximizes the benefits of newness and minimizes its costs

Stage 3 : Feedback loop of resources

Entry strategy
Knowledge
Resources
bundle

Assessment of
new entry
opportunity

Risk reduction
strategy

Other
resources
Organization
Stage 1 : New entry generation

Stage 2 : New entry exploitation

Firm
performance

GENERATION OF
A NEW ENTRY OPPORTUNITY
Knowledge :
Market knowledge
Technological knowledge

Resources

Stage 1 : New entry generation

Resources bundle :
Valuable
Rare
Inimitable

Entrepreneurial
Resources
the ability to
obtain and then
recombine,
resources into a
bundle that is
valuable, rare
and inimitable

A NEW ENTRY EXPLOITATION

Entry strategy

Assessment of
new entry
opportunity

Risk reduction
strategy

Develop a cost advantage

Face less competitive rivalry
Can secure important channels
Better positioned to satisfy customers
Gain expertise through participation

Market scope : A narrow-scope

strategy & broad-scope strategy
Imitation strategy : franchising

Organization

Stage 2 : New entry exploitation

Liabilities of newness :
cost in learning new task,
increased conflict

Assets of newness :
increased ability to
learn new knowledge

Strategic
Entrepreneurship

Strategic Entrepreneurship
simultaneous opportunity-seeking and advantage-seeking behaviors to create wealth

Entrepreneurial
Mindset

Managerial
Resources
Strategically

Entrepreneurial
Culture
&
Entrepreneurial
Leadership

Applying
Creativity and
Developing
Innovation

Competitive
Advantage

Wealth
Creation

A way of thinking about business that focuses

on and captures the benefit of uncertainty

Entrepreneurial
Mindset

Key Components
Entrepreneurial opportunities new goods,
services, raw material, method (price > cost)
Entrepreneurial alertness flashes of
superior insight (feasible / unexpectedly
valuable) habitual entrepreneur
Real options logic enhance strategic
flexibility
Entrepreneurial framework setting goal,
opportunity register, timing consistently
used across projects & time

Entrepreneurial
Mindset

Entrepreneurial
Culture
&
Entrepreneurial
Leadership

Entrepreneurial Culture
New ideas and creativity are
expected
Risk taking is encouraged
Failure is tolerated
Learning is promoted
Product, process, and
administrative innovations
are championed
Continuous change is
viewed as a conveyor of
opportunities

Entrepreneurial Leadership
Nourish on entrepreneurial
capability
Protect innovations
threatening the current
business model
Make senses of
opportunities
Question the dominant logic
Revisit the deceptively
simple questions
Link entrepreneurship &
strategic management

Entrepreneurial
Mindset

Managerial
Resources
Strategically

Entrepreneurial
Culture
&
Entrepreneurial
Leadership

Resources :
Financial Capital: all monetary resources
Human Capital: capability, knowledge, skill &
experience
Social Capital: internal & external relationship
3 Stages of Managing Resources Strategically
Structuring resource portfolio (acquiring,
accumulating, and divesting)
Bundling resources (organize resource
shape of firm capability & maintain
competitive advantage)
Leveraging Capabilities (to maximize
opportunity recognition and exploitation
among firm functions )

Entrepreneurial
Mindset

Managerial
Resources
Strategically

Applying
Creativity and
Developing
Innovation

Creativity
A continuous process, ability to
manage diverse matrices of
information, and recognize pattern
of opportunities
Bisociation : action that lead first
to creativity and subsequently to
innovation result from a process
Innovation

Entrepreneurial
Culture
&
Entrepreneurial
Leadership

Disruptive innovation
revolutionary change new
goods or services
Sustaining innovation
incremental change new
process

The Innovators DNA

5 skills of Disruptive Innovators

THE INNOVATORS DNA MODEL FOR

GENERATING INNOVATIVE IDEAS
COURAGE TO

BEHAVIORAL SKILLS

COGNITIVE SKILL TO
SYNTHESIZE NOVEL INPUTS

INNOVATE

Questioning
Challenging
the status quo

Observing

Taking risks

Networking

Associational
thinking

Experimenting

Innovative
Business
Idea

Discovering Skill #1
Associating
-The Innovators DNA

Associating
Ability to make
surprising connections
across areas of
knowledge, industries,
even geographies

Innovators DNA Model

of Generating Idea

Medici Effect
Creative Explosion in Florence
when the Medici Family brought
together people from a wide
range of disciplines
As these individuals connected,
new ideas blossomed in the
intersections of their respective
fields
Renaissance
Ideas Conferences

Innovators not only

frequented places like TED
Literally constructed TED in
their heads
Creating a Personal Medici
Effect

Best Predictor : How often people engaged in

the other discovery skills ?
Why isnt all enterprise software like
Facebook and Twitter?

Schultz got the Starbucks Idea when he was

observing Espresso Bars in Italy

Lazaridis got the idea for Blackberry as he listened to someone

talking about Future Trends in Wireless Data Transfer

Dynamics behind
the search of New
Associations
Creating Odd
Combinations
Zooming In and Out
Lego Thinking

Creating Odd Combinations

Put together seemingly mismatched ideas to
compose surprisingly successful combinations

Zooming In and Out

Innovative entrepreneurs often exhibit the capacity to
do two things at once:
Dive deep into the details
Fly high to see how the details fit into the bigger
picture

Lego Thinking

Absolute quantity of ideas does not always

translate into highly disruptive ideas.
WHY???
You cannot look in a new direction by looking
harder in the same direction

Lateral Thinking

Tips for Developing Associating Skills

Force new associations

Take on the persona of a different company
Generate metaphors
Build your own curiosity box
SCAMPER!

Discovering Skill #2
Questioning
-The Innovators DNA

Questioning

Tactic #1: Ask What is? Questions?

Tactic #2: Ask What caused? Questions?
Tactic #3: Ask Why and Why Not Questions?
Tactic #4: Ask What if? Questions?

Tips for Developing Questioning Skills

Tip #1
Tip #2
Tip #3
Tip #4

Engage in QuestionStorming
Cultivate Question Thinking
Track your Q/A Ratio
Keep a Question Centered Notebook

Discovering Skill #3
Observing
-The Innovators DNA

TATA NANO
The worlds cheapest car

HOW Ratan Tata, chairman of

Indias Tata Group, gained a
powerful insight that inspired the
worlds cheapest car?

OBSERVING

OBSERVING: UNDERSTANDING THE JOB TO BE DONE

Functional

Social

INNOVATIVE SOLUTION

Emotional

How can someone get

better at observing?
Actively watch customer to see what
products they hire to do what jobs.
Learn to look for surprises or
anomalies.
Find opportunities to observe in a new
environment.

TIPS FOR DEVELOPING

OBSERVATION SKILL
Observe customer
Observe companies
Observe whatever strikes your fancy
Observe with all your senses.

Discovering Skill #4
Networking
-The Innovators DNA
What a person does on his own, without being stimulated by
the thoughts and experiences of others, is even in the best of
cases rather paltry and monotonous.
Albert Einstein

Idea Networking
FIGURE 5-1 Networking differences between discovery- and delivery-driven executives
DISCOVERY-DRIVEN EXECUTIVES

Why they network: Ideas

Learn new, surprising things
Gain new perspectives
Test ideas in process

Whom they target:

People who are not like them
Experts and nonexperts with very different
backgrounds and perspectives

DELIVERY-DRIVEN EXECUTIVES

Why they network: Resources

Access resources
Sell themselves or their company
Further careers

Whom they target:

People who are like them
People with substantial resources,
power, position, influence, etc

Idea Networking
FIGURE 5-2 Bridging gaps in social networks to get new ideas

FIGURE 5-2 Comparison of idea networking skills for

different types of innovators and noninnovators

Network Country
Network
Medical Inductry

Innovators score
100

90

80
70

Innovative
entrepreneur

60
50
40

Network
Different Country

30

20
10
0
Start-up
Entrepreneur

Corporate
Entrepreneur

Product
Innovators
Percentile

Process
Innovators

Noninnovators

Network in health & nutrition

Network
Different Industry

Effective idea
networkers also plan to
nd new ideas thru

TIPS FOR

Tap Outside Experts

DEVELOPING
IDEA NETWORKING
SKILLS

Attend Idea Networking

Events
Form Personal Networking
Group

#2: Start a
mealtime
networking
plan

#1: Expand the

diversity of your
network

#3: Plan to
attend at least
two
conferences in
the next year

#4: Start a
creative
community

#6: Cross-train
with experts
#5: Invite an
outsider

Discovering Skill #5
Experimenting
-The Innovators DNA
I havent failed ...Ive just found 10,000 ways
that do not work.
Thomas Edison

Experimenting

FIGURE 6-2 Three ways that innovators

experiment

FIGURE 6-2 Comparison of experimenting skills for

different types of innovators and noninnovators

EXPERIMENTING

Innovators score

Try Out New Experiences

100
90
80

Useful for generating new business ideas

70
60

Take Apart Products,

Processes, and Ideas

50
40
30

20

Useful for generating new business ideas

10
0
Start-up
Entrepreneur

Corporate
Entrepreneur

Product
Innovators

Process
Innovators

Percentile
Sample items:
1. Has a history of taking things apart to see how they work.
2. Frequently experiments to create new ways of doing things

Noninnovators

Test New Ideas Through Pilots

and Prototypes

Useful for generating and testing new

business ideas to see what works

#2: Cross
intellectual
borders
#7: Go trend
spotting

TIPS FOR

#1: Cross
physical borders

DEVELOPING
EXPERIMENTING
SKILLS

#3: Develop a
new skill

#4:
Disassemble
a product

#6: Regularly
pilot new
ideas
#5: Build
prototypes

The DNA For The Worlds

Most Innovative Companies

Companies
Compromising many people
building the code for
Innovation

Big Companies vs Innovative Companies

Businessweek Rank

Rank #1
Rank #2
Rank #3
Rank #4
Rank #5

Apple
Google
Microsoft
Toyota
GE

Innovation Premium
Rank

Rank #1
Rank #2
Rank #3
Rank #4
Rank #5

Amazon
Apple
Google
P&G
Starbucks

Investor Insight
Could you give us insight
into which companies that
you believe are most likely to
produce new service?

Market
Value

Cash
Flows

Innovation
Premium

Inventive PEOPLE
Experimental
PROCESS
Institutional Yes
PHILOSOPHIES

Senior Executives lead the innovative charge &

excel at discovery
Monitor & Maintain adequate proportion of
high discovery-quotient people in every level,
area & stage

People

Process explicitly encourage

employees to associate,
question, observe, network &
experiment
Processes are design to hire,
train, reward & promote
discovery-driven people

Forming
Organization
Culture
Process

Philosop
hies

Philosophy 1: Innovation is
everyones job
Philosophy 2: Disruption is
part of innovation portfolio
Philosophy 3: Deploy small,
properly organized innovation
project team
Philosophy 4: Take smart risks
in pursuit of innovation