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Entrepreneurship in theory and practice

Kapitel 1
An elevator pitch for entrepreneurship
- a short sales pitch or oral monologue from one person to one or more people, where a given
theme is introduced in the timespan of an elevator ride.
 For you: entrepreneurship is more about the desire for independence and the need for
achievement that drives than to earn money. The entrepreneurship affects us all
through the trend of free agents, more frequent switching between jobs, faster
technological development, more choices and more ambiguous job structures.
 For existing organizations: organizations must continually renew themselves and
innovate across the board with new product, materials, markets etc.
 For society: entrepreneurship generate jobs, economic growth and prosperity. The
prevalence of the entrepreneurially active population is higher in developing countries
than in developed countries because of culture, framework conditions, industrial
structure etc.
The economic tradition
There are many definitions of what entrepreneurship is. For Cantillon the entrepreneurs’
function was to compensate for discrepancies between supply and demand by buying
something cheaply and selling it again at as high a price as possible.
3 types of uncertainty within the economy on the entrepreneur’s shoulders:
- When different outcomes in the future exist and are known, in this case the
entrepreneur’s role is to calculate probabilities and make decisions based on them.
- When the future outcome exists, but is known in advance.
- The true uncertainty is when the future outcome does not exist, and it is therefore not
possible to know anything about it.
Shumpeter says that the entrepreneur is an innovator who, by combining existing things,
generates new opportunities and organizations in the economy. The new option can take the
form of:
New products or quality  new productions methods  opening of new markets 
utilization of new supply sources  reorganization of an industry.
This leads to that the new organizations will outperform existing organizations and create
waves of change in the economy. This process is the creative destruction.
The social-psychological tradition
The need to achieve among the actors in a given society is linked to the entrepreneurial
personality. The new studies about an entrepreneur’s personality says that the environmental
factors play a role in their behavior and also the entrepreneur has been presented as an
“everyman”.
The emergence tradition
Another way to see the entrepreneurship is as an organizational phenomenon and is
synonymous with the behavioral act of new venture creation. That’s because organizations are
characterized by having a certain degree of formal policy, administrative structures and goals.
This focuses on the process that leads to the creation of a new organization and not what
happens afterwards.
The opportunity tradition
Here we define entrepreneurship as a discovery, evaluation and exploitation of opportunities
to introduce new goods and services, ways of organizing, markets, processes and raw
materials. The opportunity tradition decisive factor is that entrepreneurship should be seen as
something innovative. This is based on opportunities that add something new to the world we
already know.
The entrepreneurial process – an overall view says that the entrepreneurial process goes
through the same stages:
1. Initiation
2. Development
3. Growth
4. Maturity
5. Decline
The core topics of entrepreneurship:
 Recources – necessary in discovering or creating an opportunity and organizing it.
 Networks – the entrepreneur interacts constantly with others like bankers, potential
customers and consultants, and creates network.
 Design thinking – a problem-solving approach from which the entrepreneur can draw
in order to create/discover, evaluate and organize opportunities.
 The business plan – the degree of planning is present in all of these processes.
 The individual – the ones who initiate and implement the process
‘
Kapitel 2
Theories of entrepreneurship
3 phases that the entrepreneur as an individual can generally be considered:
1. Optimistic phase – believes that entrepreneurs are born with a variety of trains that
produce a universal and specific entrepreneurial personality that we can identify.
2. Critical phase – the entrepreneur is seen as a more complex phenomenon and opens up
the possibility that individuals are not born as entrepreneurs.
3. Recent phase – focuses on the individual’s personality.
Types of entrepreneurs:
 Novice = a person with no entrepreneurial experience
 Habitual = a person with previous entrepreneurial experience
 Serial = a person who is constantly establishing and selling organisations
 Portfolio = a person who owns several organizations simultaneously
 Hybrid = a person who is simultaneously self-employed and employed
 Nascent = a person who is in the process of considering the establishment of a new
organization
 Intrapreneur = a person acting entrepreneurially within an existing organization
Are the entrepreneur born or made?
Born
- entrepreneurs are special super-individuals who are born as entrepreneurs and remain
entrepreneurs all their lives.
Entrepreneurial activity comes from special individuals who have the:
- Desire to establish a private kingdom
- Will to conquer
- Joy of creating
Character traits – the thinking behind trait research is that some people have certain attributes
that make it more likely that they will find or create an opportunity and pursue it through
organizing. Other character traits are the apt to rake risks, need to perform, independent,
aggressive leader, self-efficacy etc.
Is it in the genes? – some research has suggested that people with entrepreneurial parents
exhibit a greater tendency to become involved in entrepreneurial activity. It is also occurred
that individuals with high level of activity, high intelligence and dyslexia have a greater
tendency to become entrepreneurs.
Made
- we are all potential entrepreneurs
Factors such as birth order, entrepreneurial parents, encouraging parents, work experience,
education, gender, age etc. are assumed to influence whether you become an entrepreneur.
The entrepreneur’s cognitive process
3 cognitive characteristics that make entrepreneurs exploit opportunities:
- They are more optimistic in their impulse processing and tend to seize opportunities
despite uncertainty about the outcome.
- They have more willingness to generalize based on small samples and tend to take big
decisions even though they don’t have much information available.
- They use their intuition and tend to refrain from collecting information.
Identity – a person’s sense of who he or she is in a setting. Also, a person’s understanding of
him-/herself is constantly changing depending on who the person interacts with and in what
contexts he or she participate. The entrepreneur needs to create meaning and understanding of
who am I, what I do and what I experience.
The individual’s process towards entrepreneurship
1. Indifference - based on an indifference situation where individuals are not
yet aware of entrepreneurship.
2. Propensity - an entrepreneurial awakening may occur, which stimulates the
individual’s interest and desire for entrepreneurship.
3. Intention - which can help the individuals to become motivated to engage in
entrepreneurship and develop entrepreneurial intentions.
4. Action - this can trigger the decision to act as an entrepreneur
5. Results of action - and then arises one or another result of the operation.
Born Made
Who is the entrepreneur? Special super-individuals All are potential
entrepreneurs
Perception of the Stable over time - once an The entrepreneur is created
entrepreneur entrepreneur, always an through processes
entrepreneur
Stimulation Internal character features External factors
Research focus Character features attached The interacting individual
to the entrepreneurial and contextual factors that
process create individuals, cognitive
processes and identity
Objectives To be able to predict and To understand the
point out the entrepreneur in entrepreneur and how an
the crowd entrepreneur is created
Kapitel 3
Emergence of opportunities
- What are the opportunities?
- Why?
- When and how they exist
- What form they might take
- What role the entrepreneur plays in the process of their formation
Opportunities versus idea
Ideas  opportunities – evaluated as being able to create value for others and a market can be
realized. The criteria for the evaluation are whether the idea is:
 Anchored: bound to a product, a service or an experience that creates value for others
 Attractive: others are willing to pay for the value that represents the idea
 At the right time and place: the environment is mature enough to receive the
entrepreneur and his or her idea
 Capable of being done: the opportunity is practically feasible
The extent of intentions and capabilities
It doesn’t matter if an individual has discovered or created opportunities if they do not intend
to exploit them through organizing. Bhave introduced this with two different paths to
entrepreneurship.
1. The entrepreneurial process starts with the individual intending to start an organization
and then looking for an opportunity.
2. The entrepreneurial process begins with the individual discovering or creating an
opportunity after which the intention to exploit it develops.
Types of opportunities
 Shumpeter – opportunities will emerge through new combinations of existing
resources. A violation of the existing balance that exists in markets, because they
break with existing ways of doing things.
 Kirznerian – the entrepreneurs use of existing market information to see whether there
are holes in the market in terms of resources that can be used more efficiently than
they are currently. A compensation for disequilibrium and are instrumental in creating
a balance in the markets.
Opportunities – discovered or created
Discovering opportunities
The Kirznerian opportunity says that opportunities are objectives in nature, a part of our
environment just waiting to be discovered. On other hand he introduces the concept of
alertness, which means the ability to notice, without search, opportunities that have hitherto
been overlooked. Although the opportunity is objective, the discovery of it is linked to the
individual. Information is also important to opportunity discover and that depends on life
experience, social networks and or efforts to seek opportunities. With this information we
then need to interpret information in a useful manner.
Creating opportunities
Another aspect is that opportunities and markets must be invented., fabricated, constructed
and made. Here the human ability to act creatively is central. Opportunities are social
constructs, which are created in everyday life through entrepreneur’s interaction with others,
their contexts and themselves. They are dynamic and constantly emerging, being realized,
shaped and constructed through social processes, an everyday phenomenon.

Opportunity character
Opportunity emergence
Opportunity source
Opportunity status
Opportunity type
Discovered
Objectively given unit in the
environment
Involves discovery
The individual who is
attentive towards existing
market information
The opportunity is stable
Kirznerian hole in the
market
Created
Dependent on the
interactions of the individual
Involves creation
The individual who creates
by means of his or her
creativity
The opportunity is dynamic
Shumpeterian market
ruption
Kapitel 4
Evaluation of opportunities
The evaluation tells the entrepreneur whether he or she can expect the idea to become an
economically viable opportunity or what the entrepreneur must do to achieve it. The
evaluation is a bridge between the emergence and organizing of opportunities since it tells the
entrepreneur whether it makes sense to use resources to pursue this opportunity by organizing
activities.
Evaluation = the systematic determination of merit, worth, and significance of something or
someone using criteria against a set of standards. It’s about visualizing and predicting the
future to determine whether the idea can form the basis for a profitable and sustainable
organization.
Evaluation – instrumental or legitimate
Instrumental
This perspective seeks to give the entrepreneur control over the evaluation process with the
entrepreneur’s own situation as a starting point. This evaluation happens before the
entrepreneur seriously commits to involving other actors, like investors, arranges access to
resources, such as capital, and establishes technology.
The instrumental collection of evidence to underpin evaluation can be divided into four areas:
- Product/service
- The market/industry
- Organization
- Financing
Through analysis of these areas it can show how the entrepreneur can assess whether he or
she ought to pursue the idea further.
Wickham refers to the importance of assessing the possibilities of opportunities potential in
light of scale – the opportunities size, scope – the value that it provides in the short and long
term and span – the opportunity’s durability over time (one hit wonder or lasting potential).
The venture intelligence quotient (VIQ) model:
 Product: the essence of idea, which may be a product, service, experience or process.
 Market: the group of clients and organizations who are interested in the idea and have
resources to acquire the product or service that the idea represents.
 Industry: organizations offering the same or substitute products, services, experience
or processes.
 People: the entrepreneur/the entrepreneurial team.
 Money: the financial dimension
These goes through idea assessment, idea enhancement and venture implementation.
Legitimacy
= something is legitimate if it complies with the norms, values, beliefs, practice and procedures
that are accepted by a particular social group.
Evaluation can also be seen as an integral part of everyday entrepreneurial processes. Only by
acing on the idea and testing its attractive and negative aspects, capacity development etc. in a
social context it is possible to get an understanding of whether the idea represents an
opportunity.
Legitimacy as a process:
1. Innovation – the creation of the idea
2. Local validation – local stakeholders who must be convinced about the opportunity
3. Diffusion – the opportunity starts to spread into another context
4. General validation – it become more widely accepted as a natural part of the
environment.
Strategies for building legitimacy:
- The entrepreneur can imitate other organizations that have already been accepted into
the environment.
- Cooperate with other entrepreneurs to gain legitimacy in society
- Focus on creating trust among key stakeholders that will provide the entrepreneur with
access to knowledge, recourses etc.
- Producing a business card, letterhead and a website
Instrumental Legitimate
Evaluation perception Tool to achieve a certain Legitimacy creation
objective
Evaluation objective To state the direction for To convince the actors of the
action market of the idea
Evaluation criteria They should be formulated They emerge during the
before the process entrepreneurial process
Evaluation process Rational, systematic an Social, interactive,
analytic experimental and exploring
Evaluation character Evaluation and Evaluation and
entrepreneurial action are entrepreneurial action are
two separate activities two inseparable activities
Kapitel 5
Organization of opportunities
People create organizations to accomplish things they cannot do in their own. Developing
meaningful practice, structures, and systems that we call organizations. The process involves
the coordination of elements such as people, resources, strategies, competition, technologies
etc. and it evolves in a complex milieu of interacting individuals.
Organization = the formal structures, common rules, administrative procedures, frameworks
and goals. It can also be focused on the more informal, process-oriented, interactive, social
and human dimensions.
The development of a new organization – Fayolles phase model:
Idea  opportunity  project  emerging organization  stable organization
Elements of the organizational efforts the entrepreneur must make to realize his or her
opportunity in the market:
- Technology: machinery, technology, competencies, rules, administrative process,
objectives etc.
- Recourses: raw material, capital, human resources, information, knowledge etc.
- Networks: customers, suppliers, distributors, competitors, family, friends, advisors etc.
Organization – planned or improvised
Planned (causation)
Manufacturing organizations are seen as entities, created by the manager to achieve
predefined goals. The organization in this case is intentional, rational and considered and the
organizing can be driven by analysis and planning. It can also be steered towards a specific
goal.
The entrepreneur need to ask her/himself “what must I do to achieve the desired goal – a
successful organization?”. Then he or her need to choose optimal strategies, resources,
networks etc. that enable to achieve the best possible result.
Example: a cook creating a meal. First, he chooses the menu he will prepare, then he finds a
recipe that he can follow, then he is purchasing the ingredients and then the meal can be
created.
Improvisation (effectuation)
It’s based on the idea that you should make use of what you have when organizing instead of
starting with the ultimate goal.
The entrepreneur need to ask him/herself: “what effects can I achieve with the resources I
have? What do I do right there?”
Example: the cook begins the improvisation process by looking in the kitchen to find out
which raw materials, ingredients and tools he has available, then he cook designs possible
meals that can be created from the ingredients found.
The entrepreneur has 3 recourses available as they enter the organizing process:
1. Who I am Interact with Effectual New means
2. What I know other people stakeholder
3. Whom I know commitment New goals

Starting point
Crucial question
The role of the entrepreneur
Crucial activities
Predictability of output
Planning Improvising
The target is given The means are given
What can I do in order to What can I do with these
achieve the desired effect? means?
A rational architect An improvising creator and
social agent
Analysis, planning Small steps, interaction
High Low
Kapitel 6
Nascent entrepreneurship
- focuses on the process leading up to the startup of a business.
Why does some choose to start a business whilst others choose alternative career paths? There
are two main types of explanatory models:
- The ‘person-job fit’ model, people will eventually find a career that is an appropriate
fit between their desires, ambitions and abilities, and what a given career offers and
demands. This is a rational perspective.
- Focuses on how career decisions are made and not least what affects such decisions.
This is a behavioral perspective.
The different types of impact that affect individual’s choice of business startup:
Institutional factors
2 main types of institutions:
 Formal – the judiciary and ministries that operate through regulation, laws and
instructions.
 Informal – culture, social norms, rules etc.
Institutions help to create the framework for nascent entrepreneurship and thereby to
influence the attractiveness of self-employment for the individual. Also, culture and religion
are important in attracting people to an entrepreneurial career.
Individual factors
Gender equality are a subject for individual factors. It is shown that men and women are
equally likely to start a business but for different reasons and with different results. There are
also a number of psychological traits associated with entrepreneurs like high confidence, they
are extroverts, optimistic, risk-takers etc. Another individual factor is that opportunity cost.
People with good education, good social network, extensive experience – a high human and
social capital – are more likely to start a successful business.
Life events
Factors related to specific events or people’s lives that affect whether they choose to start a
business or not. There are two types of explanations:
 Lifecycle – the resource accumulation that occurs over time as people get older and
acquire knowledge, experience and network and it’s also about risk willingness, which
is often assumed to decrease with age.
 Events – our lives can be divided into working life and social/family/privacy sphere.
What happens in one sphere affects what happens in another sphere. For example,
events like divorce or children moving from home can affect people’s career choices.
Hybrid entrepreneurship and freelancers
Hybrid entrepreneurship = when people are both employed and self-employed. The reason is
to reduce the risk and opportunity cost.
Freelancers = people find themselves in a grey area, they are formally self-employed but are
actually in a form of employment through a contractual relationship with a particular
company. For example, Uber.
The startup processes
Business lifecycle models
Firstly, a company goes through a number of identifiable phases. The sequence of these
phases is predetermined and predictable, and companies evolve from a primitive stage to a
more advanced stage over time.
Greiner’s business lifecycle model:
1. Growth through creativity
2. Growth through direction
3. Growth through delegation
4. Growth through coordination
5. Growth through collaboration
Process models
These models see development more as an iterative process between creation and discovery,
evaluation and organization of opportunities, where feedback processes, adaption and
complexity play a much larger role.
Nascent entrepreneurship – necessity or opportunity
Necessity
‘Push’ entrepreneurs are those whose dissatisfaction with their positions, for reasons
unrelated to their entrepreneurial characteristics, pushes them to start a venture.
From the necessity perspective, entrepreneurship is not a free choice but a necessary choice.
Necessity can be a matter of survival or the need to improve relative living conditions. The
necessity perspective often refers to an unsustainable economic situation, because of
redundancy, divorce etc.
Opportunity
‘Pull’ entrepreneurs are those who are lures by their new venture idea and initiate venture
activity because of the attractiveness of the business idea and its personal implications.
Here the entrepreneurship is an active and conscious choice. Some of the reasons to choose to
be entrepreneur is:
 Independence
 Material incentives
 Social approval and status
 Fulfilment of personal value or norms
 Self-realisation
 Necessity Opportunity
Basis of action Environmentally determined Deliberate, strategic choice
Motive force Push Pull
Motivation Survival/better living Exploit a possibility (self-
conditions realization)
Career possibility The only choice One among several
Potential Low High
Kapitel 7
Resources
In the entrepreneurial process, the entrepreneur needs resources like money, knowledge,
materials, energy, enthusiasm, motivation, staff etc. The decision about resource are often
made based on the entrepreneur’s expectations about the future.
From a market to a resource focus
 The ‘outside-out argument’: creating sustained competitive advantage comes through
better positioning in the market and differentiation from your competitors.
 The ‘inside-in argument’: claims that sustained competitive advantaged is best
established within the organization through its unique combination of resources. This
argument is concerned firstly with the organization’s internal resources and then looks
at the market.
A three-way split of resources
Financial resources
= capital supplied by the owners or external players. Simply the money that the entrepreneur
has in his or her pocket. There are two main types:
- Equity capital (own money)
- Debt capital (borrowed money)
Human resources
= intangible resources such as knowledge and experience. Example:
- Education and training
- Experience (business, startup, managerial experience)
- Engagement, motivation and enterprise
Social resources
= resources provided by the entrepreneur’s personal contacts. Example:
- Entrepreneurial role models
- A large network
- Diverse networks
- Supportive circle of friends
The difference between the three types of resources are that some of them are reduced when
used (financial - money can only be used), while others actually multiply with increased use
(human – use of knowledge create new knowledge).
The relationship between the three types of resources is that the various resources can be
transformed from one type to another. For example, it is possible to use one’s personal
networks (social) to recruit new qualified employees (human) or to obtain financial resources.
Resource – exploitation or exploration
Exploitation
The entrepreneur uses the existing resource position through rational and systematic
consideration of how he or she can most effectively select and deploy those resources so that
they best support the opportunity. The entrepreneur should have a clearly defined goal for the
resource use and also be aware of the resources value. The challenge is to maximize efficient
use of existing resources to achieve the goal. The entrepreneur is presumed to have
management and control of resource use in the entrepreneurial process, it reduces the
complexity and risk associated with the process. The key is search, variation, risk-taking,
experimentation, play, flexibility, discovery, innovation.
Exploration
Resources cannot be taken for granted and therefore the entrepreneur starting from a position
of limited resources must explore and perhaps even create new resources. The exploration
activities include search, risk taking, experimentation, flexibility, discovery, innovation etc.
This may lead to creation or discovery of new opportunities and countless new ways of
evaluating and organizing. Here the entrepreneur attempts to create resources that can lead
him or her in exciting new directions in terms of the developing entrepreneurial process. The
exploratory entrepreneur is continually open to unexpected resources that can lead to radically
new opportunities or ways to exploit them.
The key is refinement, choice, production, efficiency, selection, implementation.
Exploit Explore
Resources Existing New
The entrepreneur’s role To use existing resources To find and gain control of
efficiently the new resources
Focus To improve efficiency To move
Changeability Stability Dynamics
Perspective Short term Long term
Kapitel 8
Networks
In order to be successful, the entrepreneurial process requires the involvement of network.
The central argument of social network theory is that the network influences individual’s
behavior in four main ways:
 Provide people with information that can be applied to the situations they face.
 Influence other people in the network, network relations have influence on the
decisions and actions made.
 Create social legitimacy for people within a network structure, people can then
effectively gain access to resources through other individuals in the network vouching
for them.
 Develop and enhance personal identities, individuals can strengthen their identity by
interacting with others who wish to maintain their identity.
The heterogeneity argument
- differences among individuals in the entrepreneur’s network and weak relationships between
these are the most efficient network. Entrepreneurs obtain optimal access to valuable market
information that they can apply through the entrepreneurial process by having networks that
consist of diverse individuals with regard to their attitudes, values, jobs, experiences, skills,
etc. the argument takes place at two different levels:
- The relational level: focuses on the relationship between the individual entrepreneur
and his/her contacts. The less emotional attachment and trust between an entrepreneur
and his or her contact, the weaker the relationship. But this weak relationship can lead
to that you get more valuable information because these relationships generally behave
in other social networks.
- The network level: includes all contacts the entrepreneur has in his/her entire network.
Strong relationships lead to that they are often related to each other and thus possess
the same information. But it may occur structural holes which means that some
individuals in the entrepreneur’s network do not know each other and in this way, you
can get access to non—redundant.
The homogeneity argument
- dense networks are the best, where as many people possible in the network know each other
and the relationship between the entrepreneur and these people are strong. It’s about gaining
access to the type of resources that are exchanged only if both parties trust each other, spend
much time together and have emotional attachment to each other.
- The relational level: the entrepreneur needs contacts that he or she has strong and
close relations with. Trust and mutual commitment between the contacts are often
established, increasing the likelihood that the entrepreneur will receive the necessary
emotional support required.
- The network level: in dense networks, where many people in the network know each
other, are more likely to increase the collective power to act. In personal dimensions
 of network and shared interests, the provision of emotional support and exchange of
sensitive market information are more likely.
Effective networking is situation dependent – a lifecycle model
 In the early stage the entrepreneur is interested in a network consisting with many
structural holes.
 When the opportunity is identified the entrepreneur is in a stage where he/she needs
advice and support for to help with taking the final decisions.
 After the organization has started the entrepreneur needs access to the market
information again to become established.
Networks – rational or embedded
Rational
Calculation of who it pays to get involved with. In a rational perspective the relationship
between entrepreneur and the people involved are concrete and the people are widespread
among researchers, politicians, consultants and entrepreneurs. Stephanie Speisman has
formulated tips for successful business networking, three of them are:
 Ask yourself what your goals are in participating in networking meeting so that you
will pick groups that will help you get what you are looking for.
 Have a clear understanding of what you do and why, for whom and what makes the
way you are doing it special or different from others.
 Be able to articulate what you are looking for and how others may help you.
Embedded
The embedded perspective goes one step further in terms of social embeddedness and
socialization and is more skeptical about the ability of people and entrepreneurs to be rational
and calculating in selecting the network that suits them. Networking is something that is
created and maintained through all life’s activities and it cannot be identified and isolated in
relation to specific challenges such as the start-up of an organization.
The embedded perspective describes relationships as broader, emotional, trusting, mutually
binding and long term. Networking is something that is embedded and brings some structure
that defines and constrains the opportunities you have to network.
Rational Embedded
View of the entrepreneur Goal-oriented, rational A socially embedded
player player
View of the networks A rational tool Ungovernable condition
View of the relation Concrete, emotionally Diffuse, emotional,
neutral, contract like and trusting, reciprocally
short term binding and long term
The importance of social Low High
Kapitel 9
The business plan
= precisely defines your business, identifies your goals and serves as your firm’s resume. Its
basic components include a current and pro forma balance sheet, an income statement and a
cash flow analysis. It helps you allocate resources properly, handle unforeseen complications
and make the right decisions.
Context, content and process
These three dimensions are connected and influence each other. Some industries (for example
in the production sector) require the business plan and the planning process more than other
industries. The need and relevance of a business plan also varies according to the degree of
uncertainty in the actual idea and the context within which it occurs. The business plan also
depends on what background you have, individuals with an education where planning plays a
major role or an education with a more creative process.
Written document
- Ensures critical thinking
- It can be used in both internal and external communication
- It can serve as internal control of company development
Thought process
The process of thinking provides clarity regarding the organization’s objectives and how they
can be fulfilled. This process provides motivation. Market conditions, technological
possibilities, regulatory etc. related to the organization’s environment change so fast today
that a thought process is better than a written.
Planning
Four main factors that one should be aware of in connection with the development of a
business plan:
- Goals must be realistic
- The plan must provide commitment and dedication
- The plan must include milestones
- The plan must be flexible
From this you can make the business model canvas that is a tool to understand and reflect on
the business model that can support the implementation of the idea. The model focuses on
how to earn money what’s make the business unique. This model also helps to get investors.
The plan’s content
The business plan must be adapted to the opportunity, the situation and the target audience of
the plan. Different audience (bankers, investors, customers, suppliers etc.) will have different
requirements for the information in the business plan. The business plan should:
 Not be too long
  Be oriented toward the future
 Avoid exaggerations
 Clarify critical risk factors
 Identify the target group
 Be written professionally
 Catch the reader’s attention and interest
The business plan – management tool or creativity curb
Management tool
The business plan is seen as a means to manage and plan for an organization’s future.
Wickham says that it’s a tool to targeted to exploit opportunities. March speaks of some pre-
conditions that must be presented before planning:
- Knowledge of alternatives
- Knowledge of consequences
- A consistent preference ordering
- A decision rule
Proponents of the business plan as a management tool are not naive in relation to the
assumptions on which they base their beliefs. They are aware that people can only act with
bounded rationality, but they still recognize the importance of planning and the importance of
the business plan in managing this process.
Creativity curb
It’s about predicting and prioritizing bases in the entrepreneur’s preferences compared to the
alternatives with the most profitable consequences in the future. Some entrepreneur’s use
previous experience and some mimic what others have done in the hope that this behavior will
again prove to be effective. It is strategic thinking that is important in the planning process
and this requires a high degree of creativity. Successful planning requires that the
entrepreneur thinks out of the box and breaks with the existing dominant paradigms in the
market.
Entrepreneurship can be seen as art, where opportunities are generated and utilized as a result
of a creative and intuitive process.
Management tool Creativity curb
What is the business plan? Tool for planning Creativity curb
Logic Logic of consequentiality Other types of logic
(experience, imitation)
The importance of business Rationality over creativity Creativity over rationality
development
Focus Consistency Break with the existing
Metaphor Science Art
Kapitel 10
Design thinking
Design offers a way of thinking that makes entrepreneurs able to address complex
entrepreneurial issues in new ways. Design thinking is portrayed to solving all complex
problems, including helping to build economic growth, sustainability, increased prosperity,
enhanced quality of life etc.
Three ways of design thinking:
 The designer:
- focus: the designer’s way of thinking and working
- purpose: understanding how designers solve problems
- starting point: design problems are complex, and problems and solutions co-evolve
- key contributions: Schön, Cross
 The discipline:
- focus: design as a theoretical discipline that is relevant to many other fields
- purpose: present approaches to working with wicked problems
- Starting point: design problems are wicked problems
- key contributions: Simon, Buchanan
 Organizational resource
- focus: organizations in need of innovation, differentiation etc.
- purpose: innovation, strategy-making, organizational transformation
- starting point: organizational problems are design problems
- key contributions: Dunne and Martin, Brown, Verganti
The design thinking process
Simon describes the process as consisting of seven sub-processes:
Define  research  ideate  prototype  choose  implement  learn
Brown indicates a process consisting three sub-processes:
Inspiration  ideation  implementation
There are many ways of seeing the design thinking process, this is the design thinking process
in greater detail:
1. Discover the present – what is? Enable the problem area to be seen in a new light.
Looks into the complexity, paradoxes, limits, players, history and relation to other
problem areas.
2. Envisioning the future – what if? Provoke the designer into thinking outside the box
about the problem area and its solutions. The idea is to open up a wealth of different
pictures of possibilities and solutions.
3. Select futures – what wows? Get a picture of what could have a future in the real
world or to find out how the solution can be developed, adjusted and modified so as to
have the potential to cover the needs. This can be seen as a prototype-driven process.
4. Test futures – what works? Testing and acting in the market to find out what works.
Usually you can see to whether the project is feasible, viable and desirable.
Design thinking methods
- ‘Thinking with the hands’ = the designer uses it to produce ideas, concepts, things, etc.
tangible through visualization, mock-ups and prototype construction.
- Co-creation = concerned with discovery, creation, evaluation and launching the new
product or idea through creative and social interaction processes.
Design thinking – entrepreneurial or design
Entrepreneurial
A discovery-driven way of thinking and acting entrepreneurially. The entrepreneurial thinking
is about how the new opportunity is made use of and converted into market value. In order to
deal with the uncertain situation, the entrepreneur may develop different strategies, such as
growth from a small scale, entry by acquisition, focus strategy and forming alliances.
Design thinking
New entrepreneurial opportunities are designed through frequent and creative movement
between the past, present and future, which involves exploitation as exploration and discovery
as creation. The focal point for design is the fuzzy front end, where new ideas and concepts
are created and converted into prototypes, products and various other benefits and services
that create human value.
Entrepreneurial thinking Design thinking
Main orientation Exploitation of past and present Exploitation and exploration of
past, present and future
Driving forces Discovery driven Driven by the interplay between
discovery and creation,
empathy, rapid prototyping and
co-creation
Approach Unconscious alertness More conscious
Who The individual Socially constructed
Assumptions of the Linear Iterative
entrepreneurial process
Future orientation Low High and multiple
Output Entrepreneurial value Human value
Key focus The back end The front end
Constraints Have to be eliminated A way forward
Kapitel 11
Intrapreneurship
= entrepreneurship within the context of an existing business. New opportunities are
discovered or created which need to be evaluated and organized. The result may be new
organizational units, strategic reorientation or innovations within the existing organization.
Factors that help or inhibit work with intrapreneurship:
- Most companies work with multiple objectives rather than a precise measurement of
intrapreneurship.
- There is no adequate managerial support. The result is that the skills required to
develop intrapreneurial ideas and opportunities will not be developed.
- Remuneration systems, such as shares to employees, are not being implemented.
There is simply no carrot that motivates the team behind the new opportunity.
Intrapreneurship can appear as dispersed (wide) or focused (narrow) which means that it can
be both activities that involve employees or only involve a few employee’s wo are considered
to be a particularly entrepreneurial.
The difference between entrepreneurship and intrapreneurship:
 Entrepreneurship: the process through which an individual or a group of people who
are independent of connections to an existing business, establish one or more new
independent organizations,
 Intrapreneurship: process takes shape, when opportunities are developed by
individuals or groups of people that are dependent upon a company’s existing
organizational framework.
3 different branches or trends characterize intrapreneurship research:
1. Emergence of a new organizational unit – new project, new company or new division.
- Internal: new groups, projects or companies.
- External: establishment of joint ventures and spin-outs.
2. Strategic renewal – an organizational change strategy that may include changing core
competencies, resource uses and competitive parameters at project, corporate,
divisional or group level,
3. Innovation – new combinations of knowledge
The degree of innovation in intrapreneurship
Incremental intrapreneurship: the idea that opportunities remain fundamentally the same, but
are renewed gradually.
Radical intrapreneurship: concerned with how existing companies develop in leaps and
bounds, coming up with potential opportunities that are completely different from existing
ones.
Intrapreneurship – top down or bottom up
Top down
Characterized by the management within existing companies taking the initiative through the
formulation of strategies, action plans ad commencement of actual operations in the field.
Bottom up
Focuses on the situation in which intrapreneurship is created as a result of employee initiative.
This perspective assumes a loose coupling between the existing corporate governance, the
intrapreneurs and the potential opportunities that are discovered or created.

Top-down Bottom-up
Hierarchical level Top level Operational level
Source of initiative Top management Employees
The process Controlled behavior Autonomous behavior
Tool Administrative mechanisms Political mechanisms
Mechanisms for Control and minimal Autonomy and minimum
implementation autonomy control

Balance
Creating successful intrapreneurship is about finding a balance between top-down
management and bottom-up initiatives and requires elements of both control and autonomy.
Simon recommend that existing companies appoint three people to handle the new business
and existing business interests when intrapreneurship is being implemented. The three people
are firstly a “venture manager” – for the new company whose task is to run the new company
and ensure that is procures the resources required for it to develop, next is “venture
godparent” – protect the new business from existing corporate bureaucracy and ensure that the
resources that are central to its development are provided, the last one is the “venture
ombudsperson” – handling the existing business interests.
Kapitel 12
Social entrepreneurship
- is about discovering or creating opportunities and evaluating them in order to finally exploit
those opportunities through organizing. The goal is to create better conditions for people both
locally and globally, while profit is merely a means to achieve social goals.
Social entrepreneurship – better world or business
Better world
Social objectives are the ultimate goal, and any commercial exchanges take place only as a
means of achieving social goals. Therefor it is an activity for creating a better world which
often take place within the voluntary sector.
Business
Focus on financial objectives as the ultimate goal and social objectives as a mean to achieving
financial goals, to create a business and the social elements are a product in line with other
commercial products. This social entrepreneurship exists primarily in a commercial context.
Business A better world
Primary objective Financial Social
Sector The for-profit sector The voluntary sector/non-
profit sector
Motive To create a financially To create a better world and
sustainable business better conditions for people
The relevance of Crucial for the success and Supporting the primary
commercial exchange development of the social objectives
organization
The relevance of social A product similar to other The deeper purpose of
output commercial products creating social
entrepreneurship.

The intersection of social and financial goals

Social and financial goals can be combined. Social entrepreneurship can therefore involve
social and commercial considerations at the same time, making the boundary between the two
sectors not only vague but porous. A lack of financial resources or capital can constrain social
entrepreneurship and restrict the ability of social entrepreneurs to create social capital. This
perception is about whether the activities that people set in motion create better social
conditions or not.
Kapitel 13
Public entrepreneurship
- the generation of a novel or innovate idea and the design and implementation of the
innovative idea into public sector practice.
Public organizations do not work in a free market, but operate within a political context which
means that they must meet the ideals of the common good, human dignity, integrity, equal
rights and equal access for citizens to the welfare services that are produced.’
3 models in regard to the organization and financing of social services:
 The continental model – insure people on the basis of merit, guarantees citizens’
welfare.
 The liberal model – you make your own luck. Welfare benefits are only for the very
weakest in society, and proof of poverty, through budgets, pay slips or other evidence
is often a requirement.
 The Scandinavian model – insure everyone in society, high taxes and extensive
redistribution through high transfer payments. The social benefits are universal and
not selective, so that entitlement to the benefits is the same for all.
Differences between the private and public sectors
- Private actors: have a consistent and clear goal. A desire for competitive advantage
and to limit knowledge sharing. The appetite for risk is low and you want assurance
about output. The route to decision-making is often shot and unambiguous.
- Public actors: many goals depending in the different actor groups. There is typically a
high level of goal conflict, many social and political. A desire to improve the quality
of welfare products and services and to generate them more efficiently and a desire for
knowledge sharing. They are open for projects with high level of risk. The route to
decision-making is often long and complex.
New ways to understand the public sector today:
 NPM (new public management) – the problem is the government monopoly on service
and the solution is public-private competition via privatization and contracting out.
Management of own employees with a focus on resources and performance.
Politicians are seen as a board of directors that sets goals parameters. The goal is to
increase efficiency through rationalization.
 NPG (new public governance) – the problem is the complexity of what public sectors
shall carry out and the solution is public-private collaboration through networks and
partnerships. Politicians are seen as political leaders of society. The goal is to promote
efficiency and quality through innovation.
Public entrepreneurship – closed or open
Closed
Understands the public entrepreneurship as activities initiated and operated within public
organizations. Public actors guide the activities with minimal contributions from outsiders
because it is the public policy-makers, managers and employees who have the technical,
administrative and political expertise along with insight into how the public system works.
Four main types of public entrepreneur:
- Political (politicians)
- Executive (top and middle managers)
- Service (front-line managers/staff)
- Policy (outsiders such as opinions leaders)
Open
Best created by opening up knowledge and skills across government organizations and
professional groups. Social management is a complex process that should involve numerous
stakeholders, both external and internal.
Three actors that are necessary to improve the existing welfare solutions and develop new
ones:
- Citizens: can be seen as users of welfare services, customers or co-producers of
welfare solutions.
- Public employees: can be seen as having a controlling role, a service-oriented role and
a more equal development partner role.
- Private firms: can be seen as having a clear division of roles between sectors, a
customer and supplier relationship or equal collaborators.
Closed Open
Where does public In-house between public Across the sectors,
entrepreneurship take place? sector management, organizations or groups of
employees and politicians actors
Source of initiative Public actors and A diversity of users and
organizations as well as organizations from different
experts sectors
Type of solution Solutions meet the public Ownership of solutions from
sector’s method of many heterogeneous
functioning and thus partners with extensive use
democracy’s fundamental of the voluntary principle
premises
The process Heavily influenced by Influenced by multiple
professional in-house heterogeneous sources of
experts and politicians who knowledge and is considered
see reality from their own open to continual
professional viewpoint negotiation and
accommodation between the
parties
Type of knowledge Expert knowledge (political, Tacit knowledge, often
administrative and technical) linked to very local
situations and contexts
Kapitel 14
Entrepreneurship policy
Governments have become increasingly aware of the importance of promoting entrepreneurial
activity through policy actions. The assumption is that a high level of entrepreneurial activity
benefits the country’s economic growth, strength of innovation and job creation. This
strengthens the basis for maintaining or expanding the country’s welfare system.
Entrepreneurship policy focuses on the early stages of business life – the stages before the
start, during the start and in the first years after start-up, including the early growth phase.
Market failure is considered the key factor in justifying or even requiring policy interventions.
The typically market failure is the concept of liability of newness. Most entrepreneurs are
young people without significant financial resources and that’s why governments establishing
free or cheap access to information, advice and training for entrepreneurs. The
entrepreneurship policy field can be seen as government attempts to control the balance
between supply and demand for entrepreneurship through policy intervention.
Entrepreneurship policy – wealth or welfare
Wealth
Hard economic instruments such as subsidies and tax benefits, as well as regulation of the
legal and administrative conditions for starting and running new business. Politicians have
become more aware of the balance between the quantity and quality of new ventures.
Welfare
Politicians see entrepreneurship policy as a means for involving marginalized and
disadvantaged populations in the economy. Engaging in entrepreneurial activity typically
strengthens individual’s skills, confidence and self-esteem and builds social capital through
new network relationships.
Wealth Welfare
Macro-goal Increased GNP and more Improved welfare system
jobs
Micro-goal Increased income Improved well-being
Measures Primarily ‘hard’ Primarily ‘soft’
Target groups Technology and high-impact Social entrepreneurs and the
entrepreneurs 3Ds (disadvantaged,
disconnected and
discouraged)
Föreläsningar
Föreläsning 1
Grundstenar i entreprenörskap
Kreativitet (generation of new useful ideas) => Entreprenörskap (translation of ideas to
practice) => Innovation (implementation of new, useful ideas)
Intuiting – Interpreting – Integrating – Institutionalizing
Bloom’s Taxonomy of Learning
Stege över tänkandet nivåer.
Lägre nivå av tänkande = Fakta, Tolkning
Högre nivå av tänkande = Tillämpning, Analys, Syntes, Utvärdering & Bedömning

“The plunge decision” = När man beslutar sig för att ta steget.
Drivkraften för att våga ta steget skulle t.ex. kunna vara nyfikenhet.
Det entreprenöriella ekosystemet = Man är ute efter rörelsen, t.ex. hur folk flyttar runt bland
företagen (Silicon Valley). Ny logik med att rörelsen är viktig, tidigare ville man inte framstå
som en person som varit på för många olika företag.
Institutionalizing = establish us a convention or norm in an organization or culture.
Cantillon’s Circular Flow Economy

Joseph Schumpeter
Han ägnade sitt liv till att se hur den ekonomiska rörelsen såg ut. Hans nyckelbegrepp är
”kreativ förstörelse”.
“How the economic system generates the force which instantly transforms it.”
Kreativ förstörelse
 Nya varor, nya kvaliteter
 Nya metoder
 Nya marknader
 Nya källor för råvaror
 Nya organisationsformer

Exempel på kreativ förstörelse:

- Ryanair (alla andra flygbolag slogs i princip ut, det är nästan bara Ryanair som tjänar
pengar idag)
- När iPhone kom ut på marknaden (alla andra operatörer ligger under Apple
marknadsmässigt).

Den mänskliga naturen: Determinism vs. Voluntarism

- Determinism: ser människan som bestämd av/genom situationen och strukturerna.
- Voluntarism: ser människan som fri och oberoende att fatta beslut och handla – den
fria viljan. Homo Agens (Handlingens människa).
Entrepreneur/entrepreneurship definitions
- “Someone who perceives an opportunity and creates an organization to pursue it”
(Bygrave och Hofer, 1991)
- “The knack for seeing an opportunity where others see chaos, contradiction and
confusion” Timmons (1989)
- “The heart of entrepreneurship is an orientation toward seeing and acting on
opportunities regardless of existing resources” (Stevenson och Jarillos, 1990).
- “Entrepreneurship is a way of thinking, a way of thinking that emphasizes
opportunities over threats” (Krueger, Reilly & Carsrud, 2000)
- an intrinsic inclination to generate divergent ideas and to integrate those ideas with
resources and processes to make things happen in a unique way (Kourilsky, 1990)

The most prominent definition

“Entrepreneurship is about by whom, and with what consequences opportunities to bring
future goods and services into existence are discovered, created and exploited” -
Venkataraman, 1997
Entrepreneurs are, in essence, individuals who take action to convert their ideas into reality. -
Baron Robert A, Essentials of Entrepreneurship, 2014, EE
Entreprenörskap
En dynamisk och social process, där individer, enskilt eller i samarbete identifierar
möjligheter och gör något med dem för att omforma idéer till praktiska och målinriktade
aktiviteter I kulturella, sociala och ekonomiska samband.
”Att se och handla på möjligheter”
Bryggan mellan att se något och sedan göra något. Det finns människor som ser, men som
inte handlar. Det finns också människor som handlar innan de ser.
Johann Wolfgang von Goethe – uppmanar till handling. ”…det räcker inte att vilja, man
måste handla”

Handlingsorientering: Är
man bra på det så leder det
till hyperaktivitet vilket
innebär att man inte tänker
efter.
Konceptualisering: Tänker
man för mycket kommer
man få fler och fler problem
vilket gör att man aldrig
handlar.
Möjligheter, människan, miljön och processen svarar på vad, vem, var, och hur.
Entreprenöriella ”debatter”

Management: existerande
produkter på existerande
marknad.
Entreprenörskap: Ny
produkt på en ny marknad
(Apple). Här blir
bestlutssamheten helt
annorlunda, man får i stället
använda entreprenöriella
metoder för att kunna
kontrollera (uppleva) risk.
Different kinds of uncertainty
‘Knightian uncertainty’ – consequences cannot be assigned probability and cannot be
calculated;
‘Goal ambiguity’ – we don’t know exactly where we are headed;
‘Isotropy’ – we don’t know which conditions in the environment are important and which
conditions can be ignored.
Fyra nivåer av osäkerhet

Three types of uncertainty

- Demand
- Technology
- Macro events

“Entrepreneurial judgement is necessary for success in making complex decisions under

uncertainty”
- Mark Casson, 2005
Förgrund blir alltså entreprenörens rika handlingsrepertoar av möjlighetsseende,
experimenterande, improviserande, nykombinerande, nätverkande, riskhanterande, kreativt
resursmobiliserande, iscensättande, omdömesrika bedömningar och inte minst lärande via
dynamiska, iterativa, icke linjära handlingsdrivna processer.
Inkrementell innovation: Göra något nytt av något man redan har.
Analogi-transfer: T.ex. ta något från en annan bransch och omforma den till sin egen bransch
(bilkrockkudden).
Föreläsning 2
Miljö
Att förstå ”the Big Picture” – förändringskrafter i omvärlden
Skäl:
- Säkerställa att det du gör ligger i linje med de förändringar som pågår i vår värld.
- Hjälper dig att inte göra saker som är dömda att misslyckas pga. faktorer utanför din
kontroll.
- Hjälper dig att frigöra dig från dina självklarheter.
- Hjälper dig att snabbare anpassas till de nya omständigheterna, eller påverka
utvecklingen.

Har du en hög potential?

Den som har kapacitet att hitta nya idéer, att absorbera dem och översätta dem till ny lärdom
har en hög entreprenöriell potential. De har också känsliga tentakler som gör att de vågar ta
risker, har förmågan att snabbt läsa situationer och ser möjligheter.
The new moral – den nya normaliteten
Digitaliseringen medförde att företag förlorade sina marknadsandelar på grund av att de inte
följde med i utvecklingen. Den nya normaliteten handlar om att hänga med i utvecklingen, att
anpassa sig till nya förhållanden och att vara öppen för nytänkande.
”När förändringar utanför organisationen är större än inne i organisationen – är slutet
nära.” - Jack Welch
Paradigmskifte = En förändring i sättet att tänka, tolka och svara på olika situationer.
Närverkseffekter – Metcalfe’s law
Det viktigaste underliggande ekonomiska konceptet är nätverkseffekter: Ju fler som använder
en speciell produkt, desto mer värdefull blir den. Man behöver inte äga något längre utan
endast sköta det och ha access till det.
Exempel: Facebook, Instagram, Spotify och Uber. Uber skulle inte fungera om det inte fanns
många som var villiga att köra och många som var villiga att transporteras.
Platform governance
The wisdom of crowd – open vs. closed innovation
Den stora massans vishet => är det tillräckligt många som använder tjänsten så uppstår
visdom. T.ex. Wikipedia. En öppen innovation har alltid möjligheten att vara aktuell, det
medför t.ex. att Wikipedia som är skriven av vem som helst kan konkurrera med uppslagsverk
som är skrivna av experter (vilka är stängda innovationer).
Innovation – införandet av en ny eller signifikant förbättrad idé, produkt, process eller
praktik.
Innovationer (inkrementella eller radikala)
- Produktinnovation
- Processinnovation
- Organisationsinnovation De tre sista är troligen de som
- Managementinnovation kommer att utvecklas och
- Marknadsinnovation användas mest i framtiden.
- Serviceinnovation
- Upplevelseinnovation
- Business Model Innovation

Hur den ekonomiska driften har utvecklats

1. Faktordriven ekonomi – grundläggande krav - T.ex. infrastruktur.
2. Effektivitetsdriven ekonomi – effektiva krav - T.ex. högre utbildning.
3. Innovationsdriven ekonomi – entreprenöriella krav - T.ex. förstå globalisering

Managed Economy vs. Entreprenöriell ekonomi

- Stabilitet - Dynamik
- Standardisering - Variation
- Storskalig - Småskalig (i stor skala)
- Centralisering - Decentralisering
 - Hierarki - Nätverk
- Honomgenitet - Heterogenitet
- Förutsägbarhet - Osäkerhet
- Planerbarhet - Improvisation
- Kontroll - Flexibilitet
- Effektivitet - Innovation
The managerial model artikulerar på ekonomisk tillväxt kring massproduktion,
specialisering, säkerhet, förutsägbarhet och homogenitet, vilket tillåter den fulla spelningen av
stordriftsfördelar.
The model of the entrepreneurial economy artikulerar ekonomisk tillväxt kring en mängd
olika behov, nymodigheter, turbulens, innovation och fungerar i nätverk, vilket gör det
möjligt att fullt ut utnyttja entreprenörers flexibilitet.
Den entreprenöriella ekonomin kännetecknas av
- Snabb förändring
- Hög komplexitet
- Hög osäkerhet
- Oförutsägbarhet

Möjligheten
”Möjligheter är centralt för entreprenörskap, utan dessa skulle entreprenörskap inte
existera.” – Shepard & Grégoire
”Entreprenörskap är centrala för möjligheterna, utan entreprenörskap skulle inte möjligheter
existera.” – Saravathy
I den översta där finns möjligheterna medan i den andra är det entreprenören som skapar
möjligheterna.
Vad talar vi om när vi talar om möjligheter?
Vi talar om gynnsamma omständigheter, ett tillfälle, en chans.
Entreprenöriell möjlighet = Gynnsamma omständigheter som möjliggör skapandet av det nya
eller signifikant förbättrade produkter, tjänster, affärsmodeller, processer eller praktiker.
”Att hitta eller skapa möjligheter”
Var kommer möjligheterna ifrån?
- De kan spåras till samhällsutvecklingen och konsumenttrender - ”gaps in the market”
(PESTEL)
- De utvecklas ur forskning/ny teknik/ny kunskap
- De utgår från och löser ”customer pains”
- De hittas genom att finna saker som fungerar någon annanstans (analogi-transfer)
- Produceras genom ”effectuation” (att arbeta fram) – den entreprenöriella metoden
- De blir till genom entreprenörens blick – integrationen av hitta och skapa.
Möjligheterna sitter i betraktarens ögon, t.ex. ishotellet i Jukkasjärvi. Agentberoende
möjligheter.

Internet of things – teorin om att alla saker är uppkopplade på nätet.

Customer pain eller kognitiv dissonans

Man har helt enkelt noterat något i vardagen som irriterar, fungerar dåligt eller kunde göras
bättre, billigare, snyggare, smidigare, lättare, effektivare, intressantare, miljövänligare eller
helt enkelt på ett annat sätt. ”Frustration driver innovation”.
En affärsmodell:
- Beskriver hur en organisation skapar, levererar och utvinner värdet.
- Är den samlade konfigurationen av idéer, resurser, aktiviteter och logiker.
- Beskriver hur alla elementen i systemet passar ihop till en fungerande helhet.
- Beskriver ledningens samlade val och dess konsekvenser.
- Är en historia som förklarar hur företaget är tänkt för att fungera.
- Är länken mellan möjligheten och organisationen som ska exploatera.

Business Model Innovation

Värdekurva: vad är det kunden värderar med vår produkt? T.ex. pris, färg, tillgänglighet.
Det finns 4 nyckelfrågor man kan använda sig av i en värdekurva, ska vi öka? ska vi minska?
ska vi skapa nya? eller ska vi eliminera?
Föreläsning 3
Entreprenörens roll i ekonomin: aktuella utvecklingslinjer
Linjär ekonomi: Take (ta någonting) – make (använd och förbruka det) – dispose (släng)
Transformation = value creation

- Ekonomiska perspektiv: transformera resurser med lite värde till högvärdiga produkter
- Ekologiskt perspektiv: vi använder värdefulla resurser…

”Att lämna naturen är en framgång och att omvandla naturen är värdeskapande”.

En möjlig lösning: Att sammankoppla ekonomi, samhälle och ekologi.

Hållbarhet
Kan illustreras som en pall, den kan inte stå på ett ben utan måste ha tre: ekonomiska
hållbarhet, miljömässiga hållbarhet och hållbarhet i samhället. Alla benen behövs för att skapa
balans och stabilitet för en långsiktig hållbarhet.
Tragedy of the commons (Hardin 1968)
- Behov av systemperspektiv
- Tekniska lösningar inte nog
- Kontrakt/överenskommelse som lösning

Olika former av konsumtion

- Bakgrundskonsumtion: det vi behöver konsumera för att klara oss.
- Överkonsumtion: det vi konsumerar, men som vi inte behöver egentligen. T.ex. att de
underminerade sin största föda på Påskön.
- Statuskonsumtion: det man konsumerar för att utmärka sig och att synas.
- Hållbar konsumtion: att konsumera för att kunna ha ett bra liv utan att minimera de
naturliga resurserna och att riskera för framtida generationer.
- Kollaborativ konsumtion: Låna, hyra, byta och ge. T.ex. airBnB, Klädotek
Cirkulär ekonomi
- Identifiera produktens livscykel
- Minimera material, energi, logistik och undvika avfall
- Effektivisera användande av resurser och se avfall som resurs
- Produkter som tjänster

Allt börjar i naturen där vi har råmaterial. Det ska hålla så länge som möjligt i cirkeln. T.ex. är
det viktigt att designa så att den håller, att tillverka så att delarna lätt kan bytas ut, ska kunna
spridas både ut till kunder och tillbaka för reparation. Det är också viktigt att kunna samla in
råmaterialet igen så att det inte hamnar på fel ställen, för att sedan kunna återvinna
råmaterialet (för förhoppningsvis är förnybart) och därmed kan man börja om cirkeln utan att
göra speciellt stor skada.

Why sustainability is now the key driver of innovation

- Nya affärsmodeller och bättre kvalitet.
- Nytt konkurrensmedel och miljömedvetna kundsegment

Hållbarhet
1. Lagstiftning som möjlighet
2. Värdekedjor
3. Produkter och tjänster
4. Nya affärsmodeller
5. Disruptiva innovationer

Ekoprenörskap
- Affärsmodeller med miljön som utgångspunkt.
- Utmaning att balansera miljömässig, ekonomiska och samhällelig utveckling.
Kritik
- Vad är nytt?
- Är det ekonomiskt hållbart?
- Är det attraktivt?
- Är det nog utvecklat?

Samhällsentreprenörskap
Definitioner brukar inkludera:
- Samhällsomvandling: att ha en social agenda för att förändra något i samhället.
- Sociala värden: att förstärka eller förändra olika åsikter och värden.
- Förändring och behov: förändringspotential och tar tag i saker och ting.
- Nytt värdeskapande som ger något tillbaka till samhället
- Drivet av samhälleliga mål men behöver balansera alla tre benen

“Social entrepreneurship is the pushing through of social change” – Swedberg

Varför entreprenörskap och etik?
- En ny form av entreprenören som vill göra vinst och förbättra världen.
Kritik: höga ambitioner
- Samhällets behov och miljömässiga aspekter är nya marknader.
Kritik: Ekonomin får ofta överhanden.
- Entreprenörer behöver numera inkludera samhälleliga och miljömässiga mål.
Kritik: Marknaden räcker inte till för att lösa dessa utmaningar.
- Entreprenörer är förändringsagenter.
Kritik: Är det entreprenörskap?
Former av samhällsentreprenörskap
- Självständighet
- Ekonomisk risk
- Lite vinst i början
- Mål att förbättra omgivningen
- En grupp som går samman
- Beslutsfattning som inte är baserat på ägande
- Deltagande

Vem är samhällsentreprenören?
- Någon som tar på sig ett kall
- Som ser och agera på möjligheter kopplat till detta kall
- Som drivs av en process av innovation, anpassning och lärande
- Som agerar riskfyllt med begränsande resurser

Varför samhällsentreprenörskap?
- Kontextberoende
- Tid och plats
- Unika situationer
 - Stora förändringar: Statens roll, globalisering, urbanisering

Perspektiv på samhällsentreprenörskap
1. Hur mäter man förändring?
2. Begränsat kapital
3. Vikten av nätverk och mobilisering av resurser?
4. Går det att skala upp?
5. Hinder för förändring

Vikten av nätverk
Samhällsentreprenören har ofta stort social kapital.
- Socialt kapital – ”förmågan att arbeta tillsammans för gemensamma mål i grupper
och organisationer” – Fukuyama 1995
- Inkluderar relationer, nätverk, förtroende och samarbete.
Har alla socialt kapital? Svar ja, alla känner någon som vidare känner någon osv.
Aktuella utvecklingslinjer inom entreprenörskap
Samhällsentreprenören fokuserar på människorna idag.
Hållbart entreprenörskap fokuserar på de tre benen.
Miljöentreprenören fokuserar på de tre benen men främst på ekonomi och ekologi.
- Det är inte all samhällsentreprenörskap som är miljömässigt och vice versa, men
hållbart entreprenörskap inkluderar både och.
- Miljömässigt entreprenörskap utnyttjar hål i marknaden som leder till ekonomiska och
ekologiska vinster.
Föreläsning 4
Entrepreneurship as the art and science of opportunity based action
Entreprenörskap handlar om både konst och om handling. Möjligheten till konst (att betrakta
världen) och möjligheten till handling.
Nödvändighetsdriven entreprenörskap = man tvingas bli entreprenör i och med
omständigheterna.
Environmental sensitivity = förmågan att se vad som pågår i omvärlden.
”Självklarhetens tyranni”
Färdigproducerade tankescheman som inte längre är föremål för diskussion.
- Etablerad visdom
- Dominant logik
- Trossystem
- Kognitiva kartor
- Paradigm
- Ideologier
- Stora berättelser
- Kognitiva komfortzoner
- Intellektuell ”inertia”, fördomar
- Ta-för-givet-antaganden

Human Agency - Människans agentskap, d.v.s. kapacitet att göra val, handla och påverka
verkligheten. Idéen om att människan är fri.
Agent dependent vs. agent independent
Vissa möjligheter är mer beroende av människans handlingsförmåga att påverka verkligheten.
- Agent independent = T.ex. göra beräkningar på en fastighet för att sälja den.
- Agent dependent = T.ex. att personen tänker att de ska göra en 5:a till 5 st 1:or.
Strukturell determinism och agentens voluntarism
”Det måste finnas en väg mellan strukturell determinism och agentens voluntarism”.
Människor gör val och agerar i linje med dem för att påverka verkligheten i den riktning man
vill (”enact them on the world”).
Potentialitet = att se potentialen i någonting, att se någonting bortom det existerande.
Entreprenöriella möjligheter och omöjligheter
 Restriktion 1: Det ”tekniskt” möjliga – är det tekniskt möjligt att lösa problemet?
 Restriktion 2: Det efterfrågade – är mottagande intresserade av den lösningen?
 Restriktion 3: Det ekonomiskt möjliga – kan det löna sig? (alt. Skapar det värde?)
Entreprenörskap som lärande i handling

Entreprenören blir inte

paralyserad då de möter
utmaningar utan information.
Entreprenören börjar, i stället
för att ge upp, att testa, ställer
sig själv frågor och analyserar
resultaten samt lär sig av
utfallet.

The Kolb Learning Cycle

Att odla sin blick för att förstå och handla i världen.
Människan
Sociologin och geografins bidrag
 - Weber: Den protestantiska etiken
- McClelland: The Achieving Society
- Hofstede: Kulturella kontexter
- Putnam: Det sociala kapitalet, tillit mellan människor
- Saxenian: Silicon-valley-dynamiken
- ”Gnosjöstudier”
- Florida: The creative class – desto högre Gay-index, ju mer innovativa.

“Entrepreneurship is not a magic, is not mysterious, and it has nothing to do with genes, it is
a discipline. And like any discipline it can be learned” – Drucker, 1985.
E-genen – forskning kring egenskaper
- Self-efficacy:” Internal locus of control” (ungefär självtillit)
- Prestationsbehov
- Riskhantering (Hanterar risker och är inte gamblers)
- Osäkerhetstolerans (Tål osäkerhet och letar inte efter säkra situationer)
- Typ A-beteende (strukturerad och har många bollar i luften samtidigt)

Self-efficacy
= den psykologiska förklaringen för hur entreprenörer tänker.
”tron på sin förmåga att påverka och göra skillnad i olika situationer” – A. Bandura
”det där som förvandlar tankar till handling”
“a belief that you can make a difference”
- Hög self-efficacy: ”Jag tror på att jag kan bidra till att göra skillnad och förändra olika
situationer”. Man fullföljer något man påbörjat och det är de som blir entreprenörer.
- Låg self-efficacy:” Jag är ett offer och ett hinder stoppar mig från att fortsätta”.
Människor med en stark känsla av ”self-efficacy”:
- Ser utmanande problem som uppgifter att hantera/behärska
- Utvecklar ett djupare engagemang för aktiviteter de deltar i
- Glömmer snabbt motgångar och misslyckanden

Människor med en svag känsla av ”self-efficacy”:

- Undviker utmanande uppgifter
- Förutsätter att svåra uppgifter ligger utanför deras kapacitet
- Fokuserar på sina personliga misslyckanden och negativa resultat
- Tappar snabbt självförtroendet

Att bygga upp sin self-efficacy

 Iakttar resultat – baserar sin självbild på egna tidigare prestationer
 Iakttar andra – både individer och grupper
 Iakttar inre signaler – baserar sin självbild på emotionella reaktioner som t.ex. stress
 Lyssnar på andra – baserar sin självbild på andras utvärderingar av ens prestationer
Att öva är ojämförligt den viktigaste källan för att bygga self-efficacy. Känslan av att lyckas
är då omedelbar och personlig. Exempel: man behöver arbeta 10 000 timmar med något för att
blir bra på det, innan det är alla amatörer.
Locus of control – Internal/External
= huruvida man känner att man har kontroll över en situation/vad man gör.
Exempel: Om man misslyckas med en tenta kan man ”skylla” ifrån sig på olika sätt.
- Hög external locus of control: då skyller man på läraren och att de var dåliga på att
lära ut.
- Hög internal locus of control, då förlägger man problemet på sig själv, att man inte
pluggade tillräckligt mycket eller inte köpte boken. Man tar alltså ansvar över sina
egna handlingar.
Entreprenöriella intentioner
En intention är något man planerar att göra för att uppnå ett framtida mål. Intentioner
förklarar varför, anledningen till att man handlar. Vill jag? Kan jag?
Intentioner påverkas av att attraktivitet och genomförbarhet ser till att det är de sociala
normerna (gruppen) som påverkar attraktiviteten medan det är self-efficacy som påverkar
huruvida entreprenören ser på genomförbarheten.
Entrepreneurship as ”failure management”
“Ever tried. Ever failed. No matter. Try Again. Fail Again. Fail Better” – S. Beckett
Beckett såg misslyckanden som ett måste när det kommer till idéutvecklande, misslyckanden
gör att idén utvecklas och blir bättre. Har man inte misslyckats, då har man aldrig ansträngt
sig. Det han betonar är däremot att inte göra om samma misstag igen, för då är det ett misstag
på riktigt, det handlar om att lära sig något på vägen.
“I have not failed. I’ve found 10,000 ways that won’t work” – Thomas Edison
An attitude of openness, curiosity, eagerness to learn, lack of preconceptions, wonder,
amazement. Handlar om att behålla barnet sinne, och att vara öppen samt ha förmågan är
fortfarande kunna förundras.
Kreativiteten
“Ideas come from curiosity” – Walt Disney
“Creativity is the seed of innovation”
“Imagination is more important than knowledge. To raise questions, new possibilities, to
regard old problems from a new angle requires creative imagination and marks real advance
in science.” – Albert Einstein
Att kunna föreställa oss något som inte finns och sedan kunna förverkliga detta är det främsta
som skiljer människor från djur.
Kreativitetsforskning – Den kreativa processen:
- Preparationsfasen: man tankar in information genom att undersöka saker
undermedvetet.
- Inkubationsfasen: man är ”smittad” av en idé, men den har inte brutit ut. Idéen ligger i
hjärnan och bearbetas omedvetet. Är ofta upp till 3 år.
- Illuminationsfasen: När man plötsligt ser lösningen och det lossnar.
- Verifikationsfasen: Idéen måste in i en mer analytisk process, där man börjar prata om
idéen.

Den kreativa processen - Krav på individen

Tidiga stadier Sena stadier
- Associationsrikedom - Fokusering
- Intellektuell flexibilitet - Målinriktning
- Tolerans för mångtydighet - Entydighet
- Visuellt tänkande - Formalisering
- Villighet att tänka om - Konsekvens
- Intuition - Analytisk förmåga
Flow – the Psychology of Optimal Experience
The mental state in which the person is fully immersed in what he or she is doing by a feeling
of energizes focus, full involvement, and success in the process of the activity.
Man går in i en känsla där allt flyter på och där allt känns lätt. Allt funkar utan att behöva
tänka, tidsaspekten försvinner och man kommer in i ett kreativt tidstånd av totalt flow.
Man kommer in i ett flow när man har en uppgift som är utmanande men som samtidigt inte
är för svår. Det handlar att hitta balansen mellan upplevd förmåga och upplevd utmaning. Får
man för höga utmaningar skapas ångest medan för låga utmaningar skapar apati, det gäller att
skapa den perfekta balansen däremellan.
Föreläsning 5
Den kreativa processen
Kreativitet = att generera ny insikt, nya användbara idéer
Divergent tänkande: där man skapar valalternativ och vad som är möjligt.
Konvergent tänkande: att göra val utifrån de alternativ man har skapat.
Denna process gör man om och om igen.
Mikael Dahlén har skrivit boken ”Boxen”
Han anser att varje människa är en box och vi har väggar som begränsar oss. ”Skaffa er så
mycket intryck ni kan och skaka om boxen för att få många olika idéer”. Det handlar inte om
att tänka utanför boxen utan att ha en större box att tänka i.

1. Konventioner/regler: Genom att se ett föremål som vi känner igen har vi svårt att kunna
se det föremålet som något annat. Ex. galgen.
2. Sunt förnuft: En vägg i boxen som är vår inre kompass, den säger åt oss att vara logiska.
Vi är inskolade i att det finns ett rätt svar och är oroade för vad andra ska tycka.
3. Fysiologi: Hur vi är byggda rent biologiskt. Här diskuteras hjärnan. Den vänstra sägs
vara den som är logiskt tänkande och den högra är den kreativa, målet är att låta båda
halvorna samarbeta.
4. Medvetande: Handlar om förmågan att vara medveten om både delar och helhet.
Förmåga att växla mellan detaljnivå och helikopterperspektiv.
Entreprenörskap – fågelperspektivet
Processen
William B Gartner - Det viktiga är inte vem entreprenören är utan hur entreprenören gör.
Per Davidsson - Processen beror av hur individen samspelar med miljön och möjligheten
Man kan inte förutse en process utan det beror på vilka människor som är inblandade, hur
omvärlden ser ut etc. som formar processen.
Process – en stegvis utveckling
Discovery
 - Hur skall värde skapas och kunna tillfalla den nya organisationen? Identifiera
nyckelaktörer samt samla och analysera information.
Exploitation
- Skapa en juridisk enhet, skaffa tillstånd och licenser, ta fram prototyper. Anskaffa,
kombinera och koordinera resurser samt generera efterfrågan

Man växlar mellan att upptäcka saker och genomföra dem, handlar om ett samspel.
Hur initieras processen?
- Externt initierad process: Utgår från beslutet att starta en verksamhet och sökande
efter en lämplig idé.
- Internt initierad process: Entreprenören identifierar ett behov och tillfredsställer det,
vilket leder till att en affärsmöjlighet uppstår.
Sara Sarasvathy: Två vägar att gå
Causation: Entreprenören sätter upp mål och syften och försöker nå dem genom att använda
olika medel. Bra att använda sig av när man vet att man vet att man ska. Liknar
projektplanering. Planerad, systematiserad, förutbestämd, rationell, och linjär.
Effectuation: Entreprenören utgår från befintliga medel och låter mål och syfte utvecklas
under arbetsprocessen. Kan identifieras som vad man har för givna medel och vad man ska
göra med dem. Handlar om vad man har, inte vart man ska. improviserad, serendipity, kreativ,
experimentell, flexibel och ickelinjär.
Serendipity
= ”Förmågan att vara på rätt ställe vid rätt tillfälle”. Handlar inte om att ha tur, utan hur man
hamnat i dessa tillfällen.
Ingen slump… ”accidental discoveries” vs. ”prepared minds”.
- Colombian serendipity: Man ger sig ut för att finna nya saker, man hamnar på något
helt annat ställe än det man tänkt sig och att man gör något bra av det.
- Archimedean serendipity: Innebär att man är så inne i en problemlösning att man kan
hitta lösningen någon annanstans. Vi måste vara öppna för att se dessa saker.
Arkimedes kom på hur man mäter volym genom att bada.
- Galileian serendipity: Handlar om att man skaffar sig resurser för att upptäcka nya
saker utan att veta vad man ska upptäcka.

Causal logik och effektlogik

 Causal stategy är användbar när framtiden är förutsägbar, målen är klara och
omvärlden inte går att påverka. T.ex. att planera för lördag. Den causala aktören börjar
med en effekt hon vill nå och frågar sig: ”Vad ska jag göra för att uppnå denna
specifika effekt?”
 Effektlogiken är användbar när framtiden är oförutsägbar, målen är oklart och
omvärlden drivs av människors agerande. Den som arbetar utifrån effektlogiken börjar
med de medel hon har och frågar sig ”Vad kan jag göra med dessa resurser?” Och
gång till ”Vad mer kan jag göra med dem?”
Effektuations fem principer
- Bird-in-hand principle: Börja med vem du är, vad du kan och vilka du känner. (Inte
med möjligheten).
- Affordable loss principle: Investera det du har råd att förlora. (Inte förväntad
avkastning).
- Crazy Quilt principle: Bygg ett nätverk av självvalda intressenter. (inte
konkurrensanalys).
- Lemonade principle: Utnyttja de oförutsedda händelser och motgångar. (Försök inte
undvika dem).
- Pilot-in-the-plane principle or non-predictive control: Framtiden beror av vad
människor gör. (Inte oundvikliga trender).
Sara Sarasvathy menar att det handlar om att kunna använda sig av både effektuation och
causation, den ena är inte bättre än den andra. Man börjar ofta med effektuation och fortsätter
sedan med causation.
Inkrementell vs. revolutionär innovation
Inkrementell innovation = Om man bara fortsätter att förfina det man redan kan och vet, ex:
iPhone 5  iPhone 6
Radikal innovation = Tar man stora steg och bryter mot ett mönster och revolutionerar, ex:
Nokia  iPhone

Inkrementell vs. radikal innovation

- Stegvis utveckling - Stora steg i utvecklingen

- Små förbättringar - Teknologiskiften
- Starkt kopplat till den - Signifikant skilt från
existerande lösningen - Existerande lösningar
Dynamisk förmåga (Dynamic capability)
Företagets kapacitet att integrera, utveckla och omdisponera interna och externa resurser för
att möta snabbt föränderliga miljöer.
= Kompetens att ta vara på de möjligheter som finns i varje förändring.
Resurser
”De (materiella och immateriella) tillgångar som är knutna semi permanent till företaget”. -
Wernfeldt
Kännetecken på vilka resurser som ger konkurrensfördel
- Valuable: man behöver alltid kunna värdera sina resurser. Är de värdefulla för någon?
- Rare: Är den ovanlig eller har alla tillgång till denna resurs?
- Inimitable: Går det lätt att imitera denna resurs?
- Non-substitutable: Går det att ersätta resursen med ett substitut?

Nätverk
Heterogenitets argumentet
- Relationell nivå: Handlar om ytliga och lösa kontakter
- Nätverksnivå: de människor som man känner men de man känner, de känner inte
varandra. Man själv är spindeln i nätet.

Homogenitets argumentet
- Relationell nivå: Alla våra nära nätverk. T.ex. släkten.
- Nätverksnivå: Alla man känner, de känner också varandra.

Rationella perspektivet: en duktig entreprenör handplockar rätt personer.

Inbäddade perspektivet: entreprenören är den som råkar födas i ett riktigt bra nätverk. Vi har
ett nätverk som vi inte kan förändra.
Blue ocean strategy
Handlar om att arbeta med affärsmodellen, inte bara se över kostnader och intäkter, utan
bygger på att man ökar värdet och minskar kostnaderna. Man ska inte ge sig ut i ett hav av
hajar utan skapa värdeinnovation.

Eliminera – vilka faktorer Öka – vilka faktorer borde

som branschen länge har ökas långt över
konkurrerat med kan ni branschstandard?
eliminera?
Skapa – vilka faktorer som
Reducera – vilka faktorer bör branschen aldrig erbjudits bör
reduceras långt under skapas?
branschstandard?
Artiklar
The Entrepreneurial Economy
- David Audretsch and Roy Thurik
The role of entrepreneurship has dramatically changed from the model of the managed
economy to the entrepreneurial economy.
The managed economy is the political, social and economic response to an economy dictated
by the forces of large-scale production. By contrast, the entrepreneurial economy is the
political, social and economic response to an economy dictated by the dominance of
production factor of knowledge.
The Era of the Managed Economy
Throughout the first three-quarters of the last century large enterprise was clearly the
dominant form of business organization. This was the era of mass production. Stability,
continuity and homogeneity were the cornerstones of the managed economy. Large firms
dominated this economy.
The Emergence of the Entrepreneurial Economy
At first sight the large-scale production was driving out entrepreneurship but paradoxical, the
inevitable demise of small business began to reverse itself from the 1970s onwards. Some
hypotheses regarding the increased role of small firms are that technology change reduces the
importance of scale economies in manufacturing, increased globalization and the
accompanying competition from a greater number of foreign rivals render markets more
volatile.
Entrepreneurship capital exerts a positive impact on competitiveness and growth in a number
of ways.
- The first way is by creating knowledge spillovers.
- A second way is through augmenting the number of enterprises and increasing
competition.
- A third way is by providing diversity among firms.
The two models of entrepreneurial and managed economy can be compared between four
different groups of characteristics:
1. Underlying forces: The first group of characteristics contrasts the forces underlying
the models of the entrepreneurial and managed economy: localization versus
globalization; change versus continuity; and jobs and high wages versus jobs or high
wages.
2. External environment: The second group of characteristics contracts the external
environment characteristics of the models of the managed and the entrepreneurial
economies. Turbulence, diversity and heterogeneity are central to the model of the
entrepreneurial economy. By contrast, stability, specialization and homogeneity are
the cornerstones in the model of the managed economy.
3. How firms function: The third group of characteristics contrast firm behavior of the
models of the managed and the entrepreneurial economy: control versus motivation;
 firm transaction versus market exchange; competition and cooperation as substituted
versus complements; and scale versus flexibility.
4. Government policy: The final group of contrasting dimensions of the models refers to
government policy, including the goal of policy (enabling versus constraining), the
target of policy (inputs versus outputs), the locus of the policy (local versus national)
and financing policy (entrepreneurial versus incumbent).

”Who is an entrepreneur?” Is the wrong question. – Gartner

The difference between an entrepreneur and a non-entrepreneur is that an entrepreneur creates
organizations, while a non-entrepreneur do not.
Much research in the entrepreneurship field has focused on the person,” Why do certain
individuals starts firms when others, under similar conditions, do not?”
The trait approach - In the trait approach the entrepreneur is assumed to be a particular
personality type. Once an entrepreneur, always an entrepreneur since it’s a personality type.
Table 1 is an attempt to organize the major literature on the entrepreneur and the
entrepreneurship. It represents a succumbing to the grand temptation that haunts many writers
and researchers in the entrepreneurship field: if we could just systematically go back and
extract, categorize, and organize what has already been discovered about the entrepreneur, we
will return with the pieces of a puzzle which we can then fit together into the big picture, and
the entrepreneur will be defined on the page. Table I is most emphatically nor the big picture.
lnstead Table I shows that many (and often vague) definitions of the entrepreneur have been
used (in many studies the entrepreneur is never defined).

The behavioral approach

The individual is viewed in terms of activities undertaken to enable the organization to come
into existence. Reserach on the entreprenuer should focus on what the entrepreneur does and
not who the entrepreneur is.

Causation and effectuation: Toward a theoretical shift from economic

inevitability to entrepreneurial contingency
- Sara D. Sarasvathy

Process of causation and effectuation

Definition: Causation processes take a particular effect as given and focus on selecting
between means to create that effect. Effectuation processes take a set of means as given and
focus on selecting between possible effects that can be created with that set of means.
Causation rests on a logic of prediction, effectuation on the logic of control.
The distinguish between causation and effectuation is in the set of choices: choosing between
means to create a particular effect, versus choosing between many possible effects using a
particular set of means.
A Rudimentary theory of effectuation process in business
If a person has a vision of creating, for example, an up-scale Indian restaurant, she will be
better off using causation processes. But if this person only has a generalized aspiration of
building a business of her own, she should consider effectuation processes.
The following four principle form the core of rudimentary theory of effectuation:
1. Affordable loss rather than expected returns
2. Strategic alliance rather than competitive analyses
3. Exploitation of contingencies rather than exploitation of preexisting knowledge
4. Controlling an unpredictable future rather than predicting an uncertain one

Decision units of exploration would contain processes of effectuation, whereas causation

models would dominate exploitation.

The Types and Contextual Fit of Entrepreneurial Process - Davidsson

1. The need for a process perspective on entrepreneurship for an entrepreneurship
education.
Business founders seems to be as heterogenous as any other group of people. It`s not
possible to profile the typical entrepreneur. This is a positive result for entrepreneurial
education, because everyone gets the chance to believe they can become a successful
entrepreneur.
Process view of entrepreneurship- a new business does not go from non-existence to
existence in one stop, as the result of a single behavior. Instead it is a number of
behaviors entrepreneurs have to perform sequentially over time.

2. Entrepreneurship and entrepreneurial process defined

Entrepreneurship- the creation of economic activity that is new to the market.
Value creation- how and for whom value is to be created in terms of product, market,
production and organization.
Value appropriation- how a significant share of the created value is to be appropriated
by the emerging firm rather than by customers, competitors or the government.