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    9 views48 pages

    ED Material 4

    Uploaded by

    Monica G

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
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    of 48
    How ENine PReNeURS Get THEIR Tens 2 a é is => From A SEREN DI PITOUS DIiscovERy- eq. Robert Plath's Tra vel foro ° llaboard SutECase oF Om Onbas preneuy developing & am idea Lecamse +e Could, Arane wed it in his jobas An Givline pilot | Eventhough hig Jellow pilots Laughed ak hig Suiktat n heels , You Can now See Ww his Preduct in any aty port — World. 2. => Scannie The EXvinoniment To TAKE \nepoake Me Apv. OF TRENDS CAN BE A MicroSoet | Goon APPROACH FoR ENTRE! Te Guat 4 DEVELOP Successrol -AwD PRoF TARE Buon’! TSes Eveqtyouay entee| Wwe NEw 'DEAS, iT 1s eBureus Tuer THey “ARE PARTICULARLY ALeat To ENVigon/- FACTORS THAT Coup Rove “To BETHS BEGINING OFANEW Bust [- VENTURE- ee Sea | What fs Develeproent ? — Means rq lle a fore of Boost ; th alfitrcder Wrwods ard i pests actin Sekine € CHAPTER | ae WHAT IS ENTREPRENEURSHIP? Vichness of tha phenomenon relent Sack ane tyhob pre! ON THE VARIETY OFDEFINITIONS| AND VIEWS Of ENTREPRENEURSHIP Researching entrepreneurship is fui, fascinating, frustrating —and important, if you ask me. One of the fascinations is the richness af the pheremenon, which lead to ‘ne of the greatest frustrations, namely the lack of a common understanding of what Precisely entrepreneurship is, Let me put it this way: there is no shortage of 5-10 Wha te phenomenon "entrepreneurship realy ona gf Here ae Tew Bape new entry (Lampkin & Dess, 1995) + Sera the creation of new enterprise (Low & MacMillan, 1988) 4, Inioyeosi = thecreaton ofew organizations (Garter, 198) = apurposeful activity to inate, maintain and aggrand business (Cole, 199) taking advanage of opporunity by novel combinations of resources in ‘ways which have impacton the market (Wiklund, 198) - the process by which individuals—either on their own or inside organiatons—pusie oppranites without ard tothe resources they currently control (Stevenson & Jaillo, 1950) + the process of creating something different with value by devoting the 1. ~ necety tine an ff, asuming the” accompanying, sen (© psychological and socal sks) and receiving the resung tuaniak-Y ‘Monetary and personal satisfaction (Hisrisch & Petes, 1989) To expand the lis, we may note that without offering formal definitions, le Drucker (198) weil a Bull & Wile (199) fr @Scumperian ew uur pele (Schumpeter, 1934). The former associates entrepreneurship with innovative and Zz change-oriened behavior, ‘whereas the TGS ass TSP Task-related motivation =—D Drucker & eipertse, and expectation of gain for self Boll KAN Richord illon Odin _ Eiepren ee ead, done ee ts ein Productton oe ven Teta aac livibes assunante Was peal aie er ileadh oles pede aprofitoriened n Aa? af Mevchanks eodk to babe Uti oy Knowing Whelier mond drove Lnamet Will be SAA OY Sows Rehes wor be = wer, at py teprtres Piaduvre oe od ho vp ee i adinkes they ane Fo, A Von U uae few a WEF, dependent un lhe propvietns 4, Nae N= ; Cornrnerte &k 4 bometting eheepe / fue a) {fo porbete oy Aekhe Uc doarer. ais Sinful bo deteive Ue ager ox Chee more 4K \Ke ur jae. | j RESEARCHING ENTREPRENEURSHIP IZ ‘ Kirener (1983) offered the following compilation Sf-roles_asigned to the cnitepeneur by various economic theorists = 1a specific kind of labor service assuming the risk rreeaitir am Markel &Selling tem in ameter bbe % eo coordinator, organizer. or gap-fller Parte Arpperonter providing leadership exercising genuine will acting as a pure speculator acting as employer ‘acting as superintendent or manager ‘acting as a source of information being alert to opportunities as yet overlooked in the market Using an empirical approach to the question of what entrepreneurship is, Gartner (1990) found the following eight themes, to emerge when professional users (academic and other) of the entrepreneurship concept were asked about its inherent meaning the entrepreneur immovaion exganiation creation creating value proftor non-profit grow Se oot Similarly, a content analysis of journal articles and books performed by Mortis, Lewis & Sexton (1994; back translated from Kufver, 1995) yielded the following ‘most common definitional keywords: pa start; form: create new business innovation; new product; new market pursuit of opportunities risk taking; risk management: uncertainty pursuit of profit; personal advantages ‘new production methods management ‘coordination of resources value creation Aristotle CNico machean Etnies) Argued War Jwhe was Acrved Uy Vd Yatio Of houses te Shoates wastsar ob bustdoy 4 Shoemaker . Tis pass hos voKad @novreous Controventy , bechane tF Peart “Yeeraker fo erry orl ban wae faker ter ails, tn lis Commmontanics o> Hho ‘i be. trey aa rnconing Ta [fae Velie % ee a Sy Or oha Shunt4 ve Prepon note 1 Te ee ns fog ard & Ie Rebow trvelved- both he sheer in labour and + e — baer re pete OS erage ts Ares Peo a meet — ficenl ge aamiere Te en ea ie + © boc — a Conte} ae So 4 Whar is Entrepreneurship? 3 Tid yet? At this pont it should be superfluous to point out that no one ean Joim 10 have the one, tme_ansyer to the question Of what the phenomenon eniepreneuship" uly Ianyhing isa sol consevclon-TiRpaige Soe > in the soca game of filling the entrepreneurship concept with meaning, none ofthe existing and partially overlapping a seems to have achieved dominance over the others. Some ofthe isues gy“which the views on entrepreneurship differ G Loc + Tsentrepreneurship something that is restricted tothe commercial sector, is tan economic phenomenon, of something that can present self within any area of himan endeavor? + Is entrepreneurship restricted t0 small or new or owner-managed firms, can it be executed by or within organizations of any age, si, and governance structure? J —Wesreprereutip an ine characte (spon, 2 type of ‘behavior, or does it involve a special type of outcome (or example, is ‘success required)? = ees something have 10 be purposeful in, order 10 amount to extent o caps ling and ‘ely uaify? = J 1s innovation required, or can imitative initiatives exemplify entrepreneurship? Is risk-taking a necessary requirement? + Doss entrepreneurship involve the discovery (or creation) of opportunities; the explottation of opportunities, or both? a/* 5 it solely micr-tevel phenomenon, ot is. entepreneuship a ‘meaningful concept on more aggregate levels as well? The language games we play regarting the meaning of entrepreneurship is a funny ype of games where—anite spate it tly, console tee two onpsing players bo determine that they according to their own Tues) won the fame, wheres the_specars—tha isthe. fellows esearch bo, rete arguments—find that both sides scored points, But since they did not play the same ame on the same eld it wouldn't be very meaningful w appoint setae Ee spots however, hae langage games are someting sone ole ike reece inthis fil) tink are extemely interesting and Imgonans, heres omens cool me T tend to be somewhat ambivalent onthe imporance of preci inherently consist and agreedupon definitions. am prety eur, however tet uedereeay, the various constructions of entrepreneurship we sald itresdag and iponase sual reales Par of me sys, Page eons jst goed arg oe a aout those important reales” ADSTET part of me, however ongly fas tnt Onder 10 do just that, a researcher must Fave a very cleat es of Sat that ra Tea, and be abet communist tht ie, bei shared aot by st of he reat I wil let tat oer pa of me speak fort while now or ar Te bone te A878 cay Ue Aavetepest bey anor tas i tic belnty TH" Lexlenal] oa ae , - e © oe : q\4 Geo 5 : < « (To) market " é a ou ‘ 1 a New offer: ‘Organizational change: . - tani = pos . vow | “Bante -josnooy aay wy = er Sup Loman wontaap & ans [269 3 ssoursng & 21 qusoid Kasnpay g voneys21 5 ye 0g] sonsunioezey> uote soususdeg, ‘peu 0% Ansa Feat woneonpg, 4 Ms AMI 8 0M fc ta ill to 8 Fitch LBS. Dic Ocean papa ie: la ah RESEARCHING ENTREPRENEURSHIP KX Ability Ability Perceived ah >| Entrepreneurship (Growth) « Perceived Need | Entrepreneurial a] Continued Figure 3:2 A somewhat more sorted array of factors possibly affecting entrepreneurship qwener” ON TRADITIONAL MANAGEMENT ENTREPRENEURIAL MANAUEM ERT ‘SJ Contre! peal ers ing, Aaierpline [eemrgey epee Sag I, aoa Ente Kenosha 5 be tke neation of, Sthus-gico ; Enter aver 4 cs * Brenly caine HO + Ercouy ind Conf ava Velekionepa only | Enea EEE CAST, Sean 4 8 oubside c - berm planning ; * Entowyag:: funcional rmecegiant p Ero! ~~ SI Ora ap oll z Com partreentalt2ing, Kenowbatge dovets is TRe Caahory Ono} alton + + Trpery te Create Cerbernty andl i toe, era) hectagl ae maken. : . pee Rixic te Enesv a aK on ae Uae er Q ee Lemeertesnby. aor. werd “Te oe < re pene fe Accepted onnd omlomeing therye y Nob bre dtronals sf X aver” Diseplines rmpaenting Enbespreneunaal aS - STRATEGY és uss Lo Knowrepoe _ Mawehemert ENTREPRENEURIAL, <<— Ligneninvin ernenise Te) Fatnoyetion geal ManancmenT ate i Cy CRestwity rs MARIETING —Y Most oums- Manegor of Srrall tones, ined moh ab Eni preneust : fo — to cepioge usr nt swat Foe => ee Wak Anavicg free ers aes te big onde aay hata om AE an “awe Setorne. lice Sle, % au ; hag a AT wpm ote ci Oral a Phy ane Arab out v fonsedtoro Ep ae, sant sien aoe alt= bebi, aed Pax Michaal Bell ds 22 Vie Ce ies - fo fons Hala Ar eg Go de oT a Fro thes Cam heteme So a achve the oy They Anscurne * Sorrel enh pronaurd | [ean be Weeuect be edi view Us And aw Lever ve ~ risk ZX and fa, acattng a Rah earn OK] ond thocenkadny ete A se Date AUthoy ConCepe 1755 | Cantillon Tarboduted “the conceph 64 enheprerenr -frem Semtyeprendve’ [ability oes Emphasized the abiliFy oF the entvepre neay 1803815 ~Baptiste Say bee (dean abt ste Em Moayshal’yesourtes In order to Hespond To Urged opportunities. Cal Menger Agi = Noted the OI Of tre Entrepreneurs Te aabagent cbativeen * poeple ena > tp ose 1th aUMarket oy exchange value-and all thers I3q3 Ely And Hess oO: a Attaibuted TW enkeprencunt The odealil Fo feet Cwilagaa teal ction Un tke. Seclerants a poate, Commteuning voles im capital, labour, Onderprite amd Yembie-prenaut- Date | Autney [au 1928) | Schumpeter (434 ConcepE Envisioned that enteprene nk Preaek) “Createct? ©pportuns by ee nae Combat Combinations? which Urcludel Scveabive oleskAuckion? of passive or letrangic ——_i Reeonewic Market. 19 , Ss fed tole entre preneurs Were Conter ned Wife ale} Knight tie tee ppiciency’ Fn Ccennomte ack ty Contin adlacay warte, ak en Heve by | Pret te pital ud ae lage, Continued the Audiiian Tradition analy Fal (252 Hedek Cube preneuns thems oes ee Bf nbongraion OSaymmetry Cahich ay Coutel fs exphort- a1, Attribukeq o Jt men” abilly Fy : 19847) Shabero Hep bs “Cvedtble opportuni bes 14a Paes = tino crt heat antecdents - pevtep~ Fa) Actireabultlys ” art ratios fs pashan oT Pertonal cand View pove =f [G1 | Drucicey (qT 14335) 1974) Kivzner 19494 -Atnibnted to entreprencus ay a Aonte Tr © feo? manket trends arel make a ape Attrtbited to enticremourr a Bente of see te te Pee Baby pooms- it 54¥ Booms tp Lath me ‘ae Chapada Byrd Reconmerdat Oph Adkins 2 ~ Prefile oF Recommended Baby Boom Character’ Stes Oipaiarsanat Auten /Concemfor basic 1. a. Replace promotion culture with psychological success culture ‘b. Examine, change corporate career criter.a . Focus on corporate ethics + Freadien t§ ACE 2, 3 Support protean career paths envoluse ». More lateral mobility C c. Decouple rewards and the linear career path . Focus Om Vela 5 Big orrgoing development into the job through: # Selfii-velopment + Lifeiong learning ‘Need for Autonomy. icra ttc cones 5. More diversity in career paths. sore change: * within present job 5. ess Concarn til * within present sanction adNantement’ — + within present location * across function and locations + Cve$trg gird quality performance, no* potential HE 7a Create internal entrepreveurial assignments is b. Encourage em: loyee career exploration (internally and exte- nally) (8 a. More organizational sensitivity to hore life b. Trair ing for managing the work-home interface Contern for 4 . Inclusion of spouse in career discussions Wore [home |. . Career assistance for employed sporce Sonus { €. Hexible benefits to help meet family needs (e.g, ciiid care, elder |__ care, care for sick children) f£. More flexible work arrangements —- Points to porders~ 4.44 the beak a ae a and, aubonomy dur does net Wan car ven epkiona oF exorcise “Ub, .whak Care. amd O71n enbefre— One Jet oben? one OpHen ti te betome am : meus trat the peak, age for Onkarpasnaunthy — 2. HB Schoo! found That “oO ts tr Uke early 30'S ads eprssent le peak °F Pestle Uo ther wis af — 3 Ee Caby boom, Ghdet. = Mary Jackson, Fred Revitch and Brett Torso) are att renee lke Post —uavid war-Th. baby Boone Jorerehion Ord Catt healcry Wt Wines crow bo achieve falfilliment ope a unt amd 2h humme. sort Media, abtertion Aw bes eS Amtne baby bewm tn Yetont eo even Aidiioi lage eleckin Campa y= “Uy VSA- — The - aonowned ve an Concentra rary Eun 40 « — The Basten Alebe toundord aber‘ Malle Mereapas’tat ts Wo place R Go!” — bh mere We fetes Poaby Paoore” W Scenics. Sererst otter Aertes Wert fergek OF beer eee aud Ten it became & CR We, Iroretledrg” Ord reLp. Law! — Fe fs Te bot sont per ce 197, Menales ER un Love Wits bee Leon te ae ae = ue eas vious tk as on exprenien % Aah {hord tht % a mojey Aaqers 4 te \aed$ joy ee prechicts oe Aclyg emparymenk over ba ment cde et eta re tent) Se ee Prennin repens Ie tite phenomenm 2 la & ' w& Big cre" techs Creme d after te morte B4 dha a en hanshe hleper a SaaS: 4 - WHAT 1S ENTRPRENGURSHIP? =o EFERING THE SAmé PRoDICT AT A Lower PRG A’ S 5 Form OF ENTREPRENBORSHIP mr gs MoDEL NEW Business ConcePT CoMPETITORS . CompenTor , NEW BUSIN BvYERS AND > New Newnes AS perce? By st ALSO IMITATNE LUSNOVATION Be THE ENTREPRENEURSHIP CONCERT. ENTRy BE 2 MEANS CHANGING THE “TypICALOF Social PERSONALITY ArrTVTODES TOWARDS WESTERN SATION L MeDIA- AND CHANGING SATION 5 Exposure 10 GuoBA AL mpLrcATion BeEWaviovr eveAe BERNIWR Pe ce Rn OR prwerwise (T'S a REPRE N CATALYST BEVAVIOVR T 1s Muck MoRE UBIQviTos =, ENTREPRENEUR MA Be SUCCESFUL ON TRE iceo LEVEL, Because HE 1s OUTSMARTED By FolLowets , Fd! wito SETS THE FoR THE MARKET JE THE INCUMBENTS Bain FoRTe Suci+ OTHER ACTORS .aT 1s AN Po INT OF VIB - DIFFEREN kup ENTERPRISE?— Enteeprenevg — ENTREPReWEUR~ _ZTs A PERSON WHO SHIP UNDERTAKES AN 1$ A PROCESS ENTERPRISE . PRoDecTion XIN OTHERWOADS ‘PROCESS OF ORMANISING, yan AGG AND. ASSUMING THE RISK, “BUSINESS. ce BETWEEN ENTREPRENEURS , ENTRPRENEURSHID ENTERGRISE — 1S AN ORGAN - — INveLwes UN various ACTIVITIES AND THE ty ILiNGwess Te TAKE RISK: — ISA CoNTINUING Entity. Tepe viens oF ENTREPRENEIRSED ” 4: Ris Taking Propensity yo 18 ‘a-trait thet distinguishes enhe- Prensune oom "nen ev sake tre Mest 200k Coe} hte eurnens OS Read to ertneprenenria ve fers te tre person Q . Role Arn Bb ys ae sar expected te lim ov not. B» Role Stress i- — isa Fforckion of discrepancies hehwern one's expectation and ons Gbule rack ema « | Fawnily amd work plae- Aerievonert nota” fp accom Job Coupes oa va, > Ot Wan tndiridual 4pdeo 5. Locus OF Control :— An —__ Che) _ Cowkrot thar a pen 4: jsh Gnd Achieve om the ond ES am Wye "Why Am 1 StupyING ENTREPRENEURSHIP 2 ee) Wy, WN “Based on Previous experience, we uss tio you . Ave probably Stating, ths

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