Professional Documents
Culture Documents
Hard Copy 10
Hard Copy 10
Deviant
1. The CONFORMIST are those who accept both the culturally approved goals.
2. The RITUALIST are those who give up the cultural goals but followed the prescribed norms, even if
they get only a pittance in return, like the bureaucratic robot or the religious fanatic.
3. The RETREATIST are those who abandoned both cultural goals and the prescribed means to achieve
them and try to set up a new norms. Assumption of Constructionist
Objectivism Determinism
Relativism- Deviance is a label defined as such at a given time or
Deviance. Determine behavior. A place. Hence, labelers or impact can be subject of study.
Deviance- Observative object. Hence,
objective research method can be used. product of cousation. Hence, cousal Subjectivism- Subjective method can be used
explanatory theory can be developed
Voluntarism- Deviance is a voluntary act. It is an expression or of
free will. Hence, non-cousal descriptive theory can be developed
MODULE 1
SESSION 3: THE ENTREPRENEUR AND HIS JOURNEY
What Is This Session About?
Welcome to the third session of Module 1. This session will allow us to put ourselves in the shoes of the
entrepreneur and begin to understand what the entrepreneur begins his journey, and that is identifying
opportunities to exploit and turn into an entrepreneurial venture.
This will be done by discussing your personal strengths, abilities and talents that you can build on to identify
business opportunities. We will also be using metaphors and brain-writing as techniques to “think outside
the box”.
Towards the end of this session, we will learn how to evaluate the opportunities that we have identified on
the basis of criteria considered to be important by successful entrepreneurs.
What Will You Learn?
At the end of this session, we will have identified abilities useful for opportunity identification. We will
also have learned creativity techniques to come up with original ideas as well as learned basic criteria to
evaluate business opportunities.
What Do You Already Know?
Let’s begin this session, by looking at and reflecting on the quote below:
“Paying attention to simple little that most men neglect makes a few men rich” – Henry Ford
Let’s Reflect:
Why do you think that identifying and evaluating business opportunities is the basis and starting point for
entrepreneurship?
Let’s Study:
Opportunity has been acknowledged as the key component of entrepreneurship. This partially explains the
growing interest in opportunity identification, which resulted into well thought out definitions, processes
and evaluations of opportunities (Alsos & Rasmussen, 2007; Fiet, 1996; Gartner et al., 2003; Shane &
Venkatara- man, 2000).
The growing interest in entrepreneurial opportunity has lead to the emergence of several definitions of the
concept, which are to a high degree similar. Scholars defined it as situations in which new goods, services,
raw materials, markets, and organizing methods can be introduced through the formation of new means,
ends, or means-ends relationships (cf., Alsos & Rasmussen, 2007; Casson, 1982; Eckhardt & Shane, 2003).
Opportunities vary largely in complexity and characteristics and so do the processes through which they
are identified (Alsos & Ras- mussen, 2007).
Other researchers like Smith, Matthews and Schenkel (2006) were more specific by identifying two types
of opportunities that istacit and codified, they defined a codified opportunity as a situation that is well-
documented, articulated or communicated, in which a person can create a new means-ends framework for
recombining resources. As pointed out by other researches, this recombination can include new goods,
services, raw materials, markets and organizing methods. For example, a codified opportunity may be
illustrated by a franchise in which the opportunity is clearly documented. By comparison, a tacit opportunity
is a situation that is difficult to codify, articulate or communicate, in which a person can create a new means-
ends framework for recombining resources.
In broad terms, an opportunity may be the chance to meet a market need (or interest or want) through a
creative combination of resourcesto deliver superior value (Casson, 1982; Kirzner, 1973; Schumpeter,
1934). Hansen (2006) points out that what most literature in entrepreneurship calls “opportunity
recognition” appears to include three distinct processes: (1) sensing or perceiving market needs and/or
underemployed resources, (2) recognizing or discovering a “fit” between particular market needs and
specified resources, and (3) creating a new “fit” between heretofore separate needs and resources in the
form of a business concept (De Koning, 1999; Hills,1995).
The identification of opportunities that initiate entrepreneurial ventures is the key to the engine that starts
new businesses; opportunity recognition is the progenitor of both personal and societal wealth
(Venkataraman, 1997). Venkataraman (1997) and Gaglio and Katz (2001) argue that understanding the
opportunity identification process is one of the primary questions within the province of entrepreneurship.
This awareness of the importance of opportunity to entrepreneurship has spurred numerous investigations
of one's ability to identify opportunities.
It is important to emphasize during the training that opportunity Identification is a continuous process
throughout the entrepreneurial process.
Personal Evaluation
Smith, Matthews and Schenkel (2006) and Shane (2003) realized in their work that if different types of
opportunities are identified, it is necessary to bring the entrepreneur back into the picture to understand the
relationship between the type of opportunity and the entrepreneurial process. Other researcher like Baum,
Locke, and Smith (2001) and Rauch and Frese (2000) have pointed out that personality remains an
important general predictor of entrepreneurial behavior, once specific mediating factors are considered.
This can be achieved by people evaluating themselves thus knowing what they are good at that is their
strength and for them to think around these strengths (personal abilities) and also what they love doing,
likes, interests and hobbies.
Personal Goals
Brunstein and Gollwitzer (1996), in their research pointed out the importance of self- defining goals as they
do motivate some people. That is why it is important for any entrepreneur to set goals that may act as
motivators in the opportunity identification process and their businesses. It is important to differentiate
between wishes and goals. Wishes are imagined future states. In contrast to wishes, goals are objects or
aims of actions (Locke & Latham, 2002). So, goals indicate the steps to take to make the wishes come true.
A goal is something that we want to achieve. It is also a specific, measurable occurrence, object, or
accomplishment that one would like to achieve, or obtain in the future. One where you develop concrete
action plans to take you to where and what you want in the future. A goal statement is an investment in
yourself; it clearly identifies what you want, how you will get it, and when you will get it. The goal should
be SMART (Specific, Measurable, Achievable, Realistic, Time bound).
One of the secrets to achieving your goals is knowing how to ask for help from people who have those
skills you don’t possess. In return, you offer them the skills you have, which will often turn out to be just
what they need to achieve their goals. Complementary skills serve everyone involved. Goals motivate you
to turn your vision of the future into reality.
Creativity
Creativity is a key to the development of both new and existing businesses, especially for those who want
to grow to- wards a profitable business. Creativity is typically used to refer to the act of producing new
ideas, approaches or actions, while innovation is the process of both generating and applying such creative
ideas in some specific context. Definitions of creativity are typically descriptive of activity that results in:
Needs
People will always have needs; a human need is a basic requirement that a person wishes to satisfy. Needs
are basic parts of human life, and are therefore not created by businesses. Businesses only try to influence
demand by designing products and services that are attractive, affordable, available and work well for the
customer.
Identifying people’s needs is one of the better strategies that entrepreneurs use when looking out for
opportunities. To do this, look out for peoples’ needs like; what exists is too expensive need something
cheaper, what existsis not easy to use so need a user friendly one, quality of existing product or service is
not good enough and many others. Opportunities can be identified through other ways like;