...Introduction to Entrepreneurship Session 1 Olivier Witmeur September 2011 2 Desired outcomes of the session • • • • Introduce the course Tour de table What is entrepreneurship, what are the key constructs Who is the entrepreneur • AGENDA 1. Introduction 2. Course design and organisation 3. About entrepreneurs 4. What entrepreneurship is GEST-S547 - 2011-2012 © Olivier Witmeur 3 1. INTRODUCTION 4 What have these companies in common? • • • • • • • Delhaize , Colruyt, Leclerc, Sears & Roebuck Solvay, Pfizer, Yves Rocher Citroen, Renault, Ferrari McKinsey, Deloitte & Touche, JP Morgan McDonald, Neuhaus Dell, Hewlett-Packard Siemens, Dyson GEST-S547 - 2011-2012 © Olivier Witmeur 5 Examples of successfull entrepreneurs GEST-S547 - 2011-2012 © Olivier Witmeur 6 Entrepreneurship is … (3 minutes) GEST-S547 - 2011-2012 © Olivier Witmeur 7 La laiterie du Berger – Danone Latitudes GEST-S547 - 2011-2012 © Olivier Witmeur 8 2. COURSE DESIGN 9 Desired outcomes of the course • Understand why entrepreneurship matters • Introduce key-concepts and best practices in various settings • Develop your entrepreneurial mindset • At the end of the course each student must be able to: – Assess entrepreneurial opportunities in various contexts – Identify and master the main challenges associated with their exploitation – Understand when and where entrepreneurial management style is relevant ...
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...A brief discussion of the relationship between entrepreneurship, innovation and economic development as well as the role of sustainability in the relationship Introduction: The origin and development on theory As early as the 17th century, the French term "entreprendre "appeared in economics, which evolved into "entrepreneur" as commonly used (Dees,1998). The concept of entrepreneur keeps on developing and varies with the development of socio-economics. Richard Cantillon published his in 1775 “Essay on the Nature of Trade in General" (Murphy,1986). Since then, entrepreneurship was given a definition in the perspective of behavior, including decision-making, sound judgment, supervision of production, innovation, and resource reallocation (Herron, 1993). The new definition of the "entrepreneur" credited by French economists was put by Jean Baptiste in the 19th century "the entrepreneur shifts economic resources out of an area of lower and into an area of higher productivity and greater yield". In this time, entrepreneurship was given the meaning of "creating values"(Dees, 1998). In 1911, “entrepreneur as innovator” was put forward by Schumpeter. In his theory, entrepreneurship nearly the same as innovation is thought to be a critical factor in the promotion of economic development. This theory was unceasingly completed by Schumpeter. Through the process of “disruptive innovation” (Schumpeter, 1942), entrepreneurs create economic opportunities and obtain economic benefits by causing...
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...Entrepreneurship and Small Business By: Miguel Serodio 12/11/2011 Index Introduction......................................................................................................................page 3 Core...................................................................................................................................page 4 References........................................................................................................................page 8 Bibliography.....................................................................................................................page 9 Introduction In 1985 an the Companies Act was brought up to define better the size of small business in order to make it more clear than before, the Bolton Committee. The new act defined the business by setting maximum criterions of annual turnover, annual balance sheet total and the number of employees. This act helped to define in a practical way than before, for the reason that the Bolton Committee used to have a large number of definitions such as under 200 employees for manufacturing firms to £50 000 turnover for retailing, and up to five vehicles or less for road transport. With so many different criterions it was unpractical to define what, so the Companies Act defined that there was two groups of small and medium firms. Small business would have a maximum annual turnover of £2.8 million with an annual balance sheet total of £1.4...
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...strategic understanding of product markets than the concepts of ‘product’ or ‘commodity’ chains. | This essay will analysis the sector matrix and the chain concept to identify their comparative use and which has a better strategic understanding in the long-run of product market, such as the automobile market. And moreover, it will be begin with the definition and the benefits and limitation of these approaches. As mention, this paper will critic the three tools for analysing and prescribing remedies for improvement in the company performance; the sector matrix framework and the chain concept, Value chain and Global Commodities Chain.This approach will be explain through the seventh-largest auto maker in the automotive industry, Chrysler ( Vanne,2014). Value chain was introduced in 1985 by Michael Porter as a “basic useful tool for firms to achieve competitive advantage and enhancing it to sustain” ( Porter 1985 :26). It defines as a series of activities that builds and create business conceptualising the activities that is provides product and service to a customer (Ensign n.y.) and (Economictimes,2015) Its describe as analysing which focuses on the activities performance in designing, producing, marketing and distributing product (Porter, 1985:26) a full range of activities from conception to delivery(Theo,2015). It gives useful activities and focuses on creating valuable activities that gives company advantage For example, the ability to charge prices; lower cost of manufacture;...
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...J Manag Gov DOI 10.1007/s10997-010-9154-1 Internationalization, innovation and entrepreneurship: business models for new technology-based firms Alberto Onetti • Antonella Zucchella • Marian V. Jones • Patricia P. McDougall-Covin Ó Springer Science+Business Media, LLC. 2010 Abstract New technology-based firms, particularly those that develop their business around a new technological platform, are likely to be impacted by globalization, in terms of both pace of innovation and pressure of competition. For these firms, strategic decisions and growth processes are characterized by a deep interrelationship amongst the processes of internationalization, innovation and entrepreneurship; processes which have tended to be examined independently in distinct bodies of literature. In practice strategic decisions concern each of these processes and address issues such as organizational boundaries, location of the operational activities, what activities to focus on and selection of value partners. The business model by which firms operate needs also to accommodate the spatial dimensions indicated by globalization; and the emergence of global technology markets. Little is known to date about the extent to which business models accommodate or are adapted to internationalization, innovation and entrepreneurship. This paper presents a review of the business model literature from which a generic business model framework is derived, identifying and introducing the main elements...
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...Journal of Emerging Trends in Economics and Management Sciences (JETEMS) 2 (2): 95-103 © Scholarlink Research Institute Journals, 2011 (ISSN: 2141-7024) jetems.scholarlinkresearch.org Economics and Management Sciences (JETEMS) 2(2):95-103(ISSN:2141-7024) Journal of Emerging Trends in An Investigation of Personality on Entrepreneurial Success Owoseni Omosolape Olakitan and Akanbi Paul Ayobami Department of Business Administration. Ajayi Crowther University, Oyo, Oyo State Corresponding Author: Owoseni Omosolape Olakitan __________________________________________________________________________________________ Abstract Various personality variables determine entrepreneurial intentions and ultimately entrepreneurial success. This paper investigated the influence of personality on entrepreneurial success. We examined the impact of gender, locus of control and risk-taking behaviour on the success of an entrepreneur. The participants in this study were thirty-five solo entrepreneurs located around Agbowo, University of Ibadan area, Ibadan, Oyo state, igeria. 34.3 percent were males and 65.7 percent were females aged between 21 and 60. Six hypotheses were tested using various statistical techniques including independent ‘t’ test, analysis of variance and multiple regression. The results showed that risk-taking behaviour and locus of control had no significant interaction effect on entrepreneurial success. There was also no significant difference between risk-taking behaviour and...
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...Introduction to Business (2) – Sept. 7th 2015 – Jan van der Ende Innovative Management * Innovation = The generation, development and commercialization of products, new services or new business models by a firm. * Business model = The way a company creates, delivers and captures value. Innovation – Mostly fails (40%) * Radical innovation * Non-radical innovation No innovation = die (Kodak) Innovation: * Teamwork (Multiple perspectives) * No communication No product * Concept development Prod./Serv. Development Commercialization (process) * Innovation process in the book on page 347 Design-driven innovation * Propose the customer, without recognizing a problem. * Social process Innovation funnel (product screening) * Think 5 years ahead Product life cycle Disruptive innovation – Business model * New product with a different set of performance attributes * Underperforming on the attributes that mainstreams customers value * High improvement potential on these attributes Newspaper Website Model Christensen – The Innovator’s dilemma Problem for traditional brands. Customers think the service of the budget service is good enough. Problem for traditional brands. Customers think the service of the budget service is good enough. Solution: Brands like Air France-KLM makes a budget brand (EasyJet). Sustaining innovation * Bigger airplanes * Add service to a product (3) – Sept. 9th 2015...
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...In te r n a ti o n a l J o u r n a l o f M a n a g e me n t C a s es BOOTSTRAP FINANCING: FOUR CASE STUDIES OF TECHNOLOGY COMPANIES EVA M.TOMORY UNIVERSITY OF TORONTO, CANADA Abstract Innovative businesses, especially in the early stages of their life cycles, often encounter difficulty in obtaining long-term external financing. Their founders tend to seek financing through nontraditional bootstrapping methods to launch their ventures. Bootstrap financing refers to a range of creative ways to acquire resources without relying on borrowing money or raising equity from traditional sources (Freear et al., 1995a). The paper examines how successful technology entrepreneurs used bootstrap financing: the founders of Microsoft Corporation, Apple Inc., Dell Inc. and Research in Motion Ltd. The research investigates the elements of bootstrapping as described in Freear et al. (1995a) and in Winborg and Landström (2001), finding that entrepreneurs use bootstrapping extensively during the early stages of growth for both product and business developments. Bootstrapping methods change as the business develops with certain methods used more at the beginning of the life cycle, and different variations used as the business starts to grow. The study also points out that even the most successful technology-based consumer goods businesses relied on bootstrap financing at the early stages of their development. This technique deserves more attention from the scholarly community since it is certain...
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...The current issue and full text archive of this journal is available at www.emeraldinsight.com/1756-6266.htm Situating the subject: gender and entrepreneurship in international contexts Fidelma Ashe University of Ulster, Newtownabbey, UK, and Gender and entrepreneurship 185 Lorna Treanor Royal Veterinary College, University of London, London, UK Abstract Purpose – The purpose of this paper is to offer a perspective to further the understanding of gender entrepreneurship. This paper considers the situatedness of the gendered entrepreneur within diverse international contexts marked by different constitutions of gender identities and networks of power, both within the context of contributions within this special issue but also more broadly within the field of gender and entrepreneurship research. Design/methodology/approach – The authors adopt a feminist perspective and analyse the different framings of identity within gender and entrepreneurship literature and their contributions to our understandings of the concepts of both power and gendered identities. Findings – The paper finds that power and identity are configured in different contexts in ways that open arenas for future analysis. Originality/value – The paper highlights the importance of considering masculinities within gender and entrepreneurship research offering support for further analyses of entrepreneurial masculinities by examining two studies that expose entrepreneurial masculinities as shifting subjectivities...
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...WOTRO Science for Global Development Food & Business Applied Research Fund (ARF) Second Call for Proposals 2014/2015 Valid for Round 3: 19 January - 12 May 2015 The Hague, - January 2015 Contents 1 5 Validity of the call for proposals 5 Aim and objectives 6 Foci 7 2.3 Target groups Guidelines for applicants 9 3.1 Who can apply 9 3.2 What can be applied for 10 3.3 When can applications be submitted 11 3.4 Preparing an application 11 3.5 Impact pathways, monitoring & evaluation 11 3.6 Knowledge sharing with the Food & Business Knowledge Platform 12 3.7 Submitting an application 12 3.8 General regulations and Intellectual Property Rights (IPR) 4.1 Procedure 4.2 6 Available budget 1.3 2.2 5 3 2.1 4 Background 1.2 3 3 1.1 2 Introduction Criteria 15 4.3 Governance of the Programme 16 5.1 Contact 6.1 General instructions for applicants 19 6.2 Specific instructions for applicants 19 6.3 Multi-Annual Strategic Plans of the embassies 26 6.4 M&E matrix of the Applied Research Fund 27 Aim Assessment procedure Other information Annexes 6 8 13 14 14 18 18 19 Chapter 1: Introduction / Food & Business Applied Research Fund (ARF) 1 Introduction 1.1 Background The Food & Business Applied Research Fund (ARF) is a subsidy scheme of ...
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...Social Enterprises as Hybrid Organizations: A Review and Research Agenda* Bob Doherty, Helen Haugh1 and Fergus Lyon2 The York Management School, University of York, Freboys Lane, York YO10 5GD, UK, 1Judge Business School, University of Cambridge, Trumpington Street, Cambridge CB2 1AG, UK, and 2Middlesex University, The Burroughs, London NW4 4BT, UK Corresponding author email: bob.doherty@york.ac.uk The impacts of the global economic crisis of 2008, the intractable problems of persistent poverty and environmental change have focused attention on organizations that combine enterprise with an embedded social purpose. Scholarly interest in social enterprise (SE) has progressed beyond the early focus on definitions and context to investigate their management and performance. From a review of the SE literature, the authors identify hybridity, the pursuit of the dual mission of financial sustainability and social purpose, as the defining characteristic of SEs.They assess the impact of hybridity on the management of the SE mission, financial resource acquisition and human resource mobilization, and present a framework for understanding the tensions and trade-offs resulting from hybridity. By examining the influence of dual mission and conflicting institutional logics on SE management the authors suggest future research directions for theory development for SE and hybrid organizations more generally. Introduction The phenomenon of social enterprise (SE) has attracted...
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...Zizlavsky Brno University of Technology Czech Republic 1. Introduction In his work, a prominent Czech expert on innovations, (Valenta, 2001), reached the conclusion that current tougher and tougher competition, globalization of production and markets, as well as implementation of new technologies mean that the success of businesses is dependent on effectiveness and intensity of innovation activities. Innovation is a process that is created via interactions between various actors, e.g. (Dolourex, 2004) and represents an important element of a company's future success. Each innovation is unique and specific for every entrepreneurship. American authors warn that innovation is more than just an idea or thought. It is bringing an idea to life (Tidd & Bessant, 2009). Currently, innovation is considered a decisive condition of a competitive advantage in entrepreneurship. This is stressed by prominent Czech, as well as foreign experts; e.g. (Hamel & Green, 2007; Kislingerova, 2008; Kosturiak & Chal, 2008; Skarzynski & Gibson, 2008). The course of the fading economic crisis that negatively impacted operation of current business unambiguously supports the inevitability of innovations. A company that strives to maintain and strengthen its position on the market has to implement a suitable innovation policy that would enable it to achieve a more advantageous position, in comparison with the competition. (Dinis, 2004) declares that the success of any innovation (and consequently, the competitive...
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...Business Man 1 Intro to Bus Man as science - Study Unit 1 & 2 Man science uses a scientific approach to solver many problems. Used in variety of orgs to sove different types of problems. Encompasses a logicical mathematical approach to problem solving 1.1 Man science process • Observation - Identification of a problem that exists in the system or organization. • Definition of the Problem - problem must be clearly and consistently defined showing its boundaries and interaction with the objectives of the organization. • Model Construction - Development of the functional mathematical relationships that describe the decision variables, objective function and constraints of the problem. • Model Solution - Models solved using management science techniques. • Model Implementation - Actual use of the model or its solution. 1.2 Factors of production Natural resources i.e. crude oil Capital i.e. investors Labour i.e. technical and academic Entrepeneurship i.e. takes capital and link labour and natural resouces combined with risk to provide goods and services. Knowledge i.e. to determine wants and needs quickly and to respond to them with products and services. 1.3 3 Most NB Economic systems = Capatalism, Socialism and Communism 1.3.1 Capatalism Free market system Built on principles of private ownership Is based on the right to make a profit, right to compete and the right to own property. System is market driven and the solutions to a country's economic problems...
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...Alfaisal University College of Business Master of Business Administration Professional Program MBA 513 Managerial Economics Course Syllabus Instructor: Dr Declan McCrohan © The College of Business, Alfaisal University, 2013. The materials contained in this document may only be used during the Alfaisal University MBA Program. Except as stipulated under national and international copyright laws, no part of this document may be copied, reproduced, stored or transmitted in any form or by any means, or used for any commercial purpose without the written permission of the copyright owner. Contact Information and Class Times Instructor: | Dr Declan McCrohan | Address: | College of Business, Alfaisal University,PO Box 50927,Takhassusi StreetRiyadh 11533,Kingdom of Saudi Arabia | | Email: | dmccrohan@alfaisal.edu | | Office: | +96612157717 | Consultation hours: | To be confirmed | Office: | College of Business, male section. | Class Times: | Cohort 1: Mon 9-12 Cohort 2: Sun 6-9pm Cohort 3: Mon 6-9pm | Venue: | Alfaisal University. Please check your personal academic timetables for the classroom location. | Course Instructor Dr Declan McCrohan graduated with a PhD in Applied Economics and a Masters degree in International Trade from Victoria University in Australia. His PhD research examined the impact of overseas students’ social networks on international trade flows. Dr McCrohan has extensive...
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...Disclosures About CSR Practices: A Literature Review Kavitha W * and Anita P ** Corporate Social Responsibility (CSR) is now prominent and evident more than ever due to the emphasis laid on businesses regarding environmental, social and ethical issues. The level of CSR activities of the firms is made known to public only through the disclosures. This paper reviews the literature on CSR disclosures and the effect of these disclosures. There are various factors which determine the extent of disclosures like the size of the firm, industry, high visibility, etc. Introduction Corporate Social Responsibility (CSR) is now prominent and evident more than ever due to the emphasis laid on businesses regarding environmental, social and ethical issues. This is because over the recent years, there have been social, political and economic pressures on corporate management to pay attention on social and environmental consequences of corporate activities. These pressures motivated the corporate management to actively participate in a wide range of social welfare activities. CSR now-a-days covers almost all issues like the use of child labor; inequality of employment; environmental impact; involvement in local community; products’ safety; company cultures; brand image and reputation. Apart from this, companies are now disclosing these activities in their annual reports, and one of the parameters to judge the performance of a company is CSR reporting. Corporate Social Responsibility ...
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