...The past thirty years have witnessed the most powerful emergence of entrepreneurial activity in the world. Entrepreneurs are now described as aggressive catalysts for change in the world of business; individuals who recognize opportunities where others see chaos, contradiction, or confusion. They have been compared to Olympic athletes challenging themselves to break new barriers, to longdistance runners dealing with the agony of the miles, to symphony orchestra conductors who balance the different skills and sounds into a cohesive whole, or to top-gun pilots who continually push the envelope of speed and daring. The U.S. economy has been revitalized because of the efforts of entrepreneurs, and the world has turned now to free enterprise as a model for economic development. The passion and drive of entrepreneurs move the world of business forward as they challenge the unknown and continuously create the future (Kuratko, 2002). Several methods have been used to measure the impact of entrepreneurial ventures on the economy—for example, efforts to start a firm (which may not be successful), incorporation of a firm (which may never go into business), changes in net tax returns filed (reflecting new filings minus filings no longer received), and a substantial amount of full-time and part-time self-employment. According to the Small Business Administration, 672,000 new businesses were created in 2005; the largest in US history (even 12% higher than the...
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...Three Pillars of the College of Business Servant Leadership, Entrepreneurial Spirit and Innovation Grand Canyon University: Introduction to Graduate Studies in the College of Business The three pillars of the College of Business are servant leadership, entrepreneurial spirit and innovation. The first one that I am going to discuss is servant leadership. Servant Leadership According to Robert Greenleaf, the term servant leadership “involves putting people and ethical considerations intentionally ahead of short term institutional or personal self-interest.” The article that I wrote about in my reference assignment was Servant Leadership, 2.0 .This article discussed the business community and how it is embracing servant leadership. The ten tables of servant leadership. The ten tables are, listening, empathy, healing, awareness, persuasion, conceptualization, foresight, stewardship, commitment to the growth of people & building communities. (Spears, L.) These ten characteristics have been the foundation for servant leadership scholarship for more than 30 years. According to Barbuto and Wheeler (2006) there are five leadership factors. These factors are altruistic calling, emotional healing, persuasive mapping, wisdom, and organizational stewardship. “Sendjaya, Sarros, and Santora (2008) identified six dimensions of servant leadership, which are voluntary subordination, authentic self, covenantal relationship, responsible morality, transcendent spirituality, and transforming...
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...ENFB71-104 Entrepreneurship and Innovation Session 3: Entrepreneurial Strategy Baden U’Ren buren@bond.edu.au Level 4, Room 9 5595 2212 Overview Review of the readings Innovation and Entrepreneurship Entrepreneurship in a Corporate Context Entrepreneurial Strategy What is Innovation? Something NEW that creates VALUE What is Innovation? “Innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or service. It is capable of being presented as a discipline, capable of being learned, capable of being practiced” - Peter Drucker Source: Schaper & Volery (2007) Entrepreneurship and Small Business 2nd Edition. Wiley. p.69 Creativity ideas, concepts & inventions Innovation the process of development and commercialisation Entrepreneurship couples opportunities and resources Innovation Exploit Incremental Explore Radical Kirzner The producer-entrepreneur •Alert and responsive to opportunities that exist •Exploits disorder (gaps) to move the market back to equilibrium Schumpeter The innovator-entrepreneur: •Creates products and processes to disturb market equilibrium •Creates opportunities Innovation & Performance Some ‘stylised facts’ about the relationships between innovation and performance: Relationships between R&D, patents, new products and performance are strongest at the industry level, weakest at the firm level Returns from...
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...Entrepreneurship Research, April 2008 KC Lim Contents Abstract 1. Introduction a. b. The Continuing and Evolving Research on Entrepreneurs The Importance of Successful Entrepreneurship Today and Tomorrow 3 4 4 5 2. Literature Review a. Introduction i. Definition of Entrepreneurs Previous Areas of Entrepreneurship Research i. Personality Traits • Motivation • Risk Propensity and Uncertainty ii. Cognition • Intention and Opportunity Seeking • Innovation iii. Population Ecology c. Topic for this Study/Theoretical Framework i. The Broad Research Problem 5 5 7 9 9 10 10 10 11 12 13 13 13 14 14 15 16 16 16 16 18 18 19 22 24 27 27 29 30 b. 3. Hypothesis for Research a. Hypothesis Statements 4. Methodology 5. Analysis of Survey Data a. b. Data Compilation Analysis & Findings i. Background Data of Respondents ii. Findings 1. 2. 3. 4. 5. Cognition in Basic Business Areas Do Emotions Figure? Preferences for Source of Funds Preferences in Knowledge Acquisition More Specific Business Aspects i. Holding Company Together ii. Growth Factors iii. Continual Growth . HELP University College, 28 October 2009 Page 1 of 43 Entrepreneurship Research, April 2008 KC Lim 6. Limitations 7. Recommendations 8. Conclusion 9. Appendix 10. References 32 32 33 35 36 . HELP University College, 28 October 2009 Page 2 of 43 Entrepreneurship Research, April 2008 KC Lim Abstract This paper presents the findings of a general opinion survey on successful small...
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...Entrepreneurship and Small Business Management Unit Code: MAR 602-6 Small Business and Entrepreneurship Mr. Pradeep Kashyap MART consultancy Submitted by: Jayesh Kannan – 1221961 Abin Jacob - 1133828 1|Page Entrepreneurship and Small Business Management Unit Code: MAR 602-6 About Pradeep Kashyap Pradeep kashyap, the CEO and the founder of MART, is known as the father of rural marketing in India. He is currently the marketing consultant of the Ministry of Rural Development and has worked with the Prime Minister’s Office and Chief Minister Committees on rural development. He has also worked as a consultant in the World Bank and United Nations and was the Chairman of Khadi Commission National Marketing Committee and a member of the National Bank for Agriculture and Rural Development (NABARD) and Small Industries Development Bank of India (SIDBI) national advisory committees. Pradeep Kashyap has 20 years of history, working with multinational companies like EXIDE, BOSCH & DENSO, and another 20 years as the guide for the rural development and marketing committees. Mr. Kashyap is a regular speaker at various CEO forums both within the county and outside India. He is very well known as a leader and an entrepreneur. In 2008 at Cannes Lions in France, he was the only speaker from India among the 50 global speakers all around the world who addressed 24 seminars. Mr. Kashyap is often invited by top business schools in India as a guest speaker. Pradeep Kashyap also...
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...Strategic Entrepreneurship Introduction: In this article, the main topic that is covered relates to precisely how strategic and entrepreneurial management are both combined and unified as a single management function. That is, Strategic Entrepreneurship which is a term vaguely coined by many describes the constant need of mangers focusing on objectives such as finding new business opportunities and taking advantage of creating short-term competition. An expectation of meeting such objectives creates a problem that is caused by having a select few elements of strategic management and entrepreneurship that overlap each other. Due to the general obscure understanding of how both strategic management and entrepreneurship are related, many studies have been conducted in order to better define Strategic Entrepreneurship. The article notes that in recent time, only one study goes to show a conceptual model of SE (Ireland 2003), but lacking in formulating a feedback loop between strategic management and entrepreneurship. Even though SE can be defined as simultaneous pursuit of opportunities and strategic advantages, the model presented by most early studies failed to pinpoint the correlation between the two. Due to the fact that SE is a new field of study, the article reviews all information on entrepreneurship, strategic management, and strategic information in order to determine the origin of SE, find the locus of integration, highlight the common components or elements, and...
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...Three Pillars of Collage Business Amanda Bond-Weeks Grand Canyon University: UNV 504 November, 1 2015 Three Pillars of Collage Business The three pillars of the collage of business consist of servant leadership, the entrepreneurial spirit, and innovation. These characteristics work together to create success in a business or any endeavor. This is why the collage of business has set these pillars in place to better enable college students as they set forth in their future careers. Servant Leadership Servant leadership is where you lead from the ground up through an inverted pyramid. Meaning the bosses and CEOs of a company put the employees ahead of themselves by placing themselves in a customer service type of role to their employees. According to Robert Linden, Sandy Wayne, Chenwei Liao and Jeremy Meuser (2014) servant leadership is defined as the premise where and employer puts the least amount of focus on their own satisfaction but instead places it on the fulfillment of that of their employees are the ones are best able to motivate their followers. According to Colleen Barret (2009) of Southwest Airlines they give number one priority to their employees by providing them with proactive customer service, secondly comes the passengers when the employees pass on the same attention they received from their employers to the passengers and lastly in the list to be considered is the shareholders. Servant leaders tend to have a core desire to want...
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...of the new prod-uct or service in the marketplace with a sustainable competitive advantage. ■ C H A P T E R 1 Economic Growth and the Technology Entrepreneur There are risks and costs to a program of action. But they are far less than the long-range risks and costs of comfortable inaction. John F. Kennedy |||||What drives global entrepreneurship?|| |C H A P T E R O U T L I N E|||| ||||| |||||ntrepreneurs strive to make a difference in|| 1.1|The Entrepreneur’s Challenge|||| 1.2|The Entrepreneur||our world and to contribute to its better-|| ||Ement. They identify opportunities, mobi-|| 1.3|Economics and the Firm||| |||lize resources, and relentlessly execute on their|| |||visions. In this chapter, we describe the character-|| |||istics of the people called entrepreneurs and the|| |||process they use to create new enterprises. We|| |||identify firms as key structures in the economy and|| ||||| |||the role of entrepreneurship as the engine of eco-|| ||||||| |||||nomic growth. New technologies form the basis of||...
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...Assignment #1: Entrepreneurial Leadership 01-17-2011 Assignment #1 Entrepreneurial Leadership1. Discuss the common elements described in the theories/philosophies of Case, Kouzes, and Drucker including how their principles/strategies relate to the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today's Dynamic Markets.The theories and philosophies of Steve Case (2010), James Kouzes (2008), and Peter F. Drucker (1985) have similar qualities. Both Case's and Kouzes' theories stress the importance of utilizing human resources in a business. Case stresses the importance of hiring and retaining key people. This is the first “P” of his three “P” theory. Kouzes theory of celebrating the values and victories in which leaders recognize individuals for their contributions to success by showing that they are valued in the company. Case's and Kouzes' theories align with the entrepreneurial leader who is a transformational leader who empowers the people. Though stated differently; Case, Kouzes and Drucker all agree that that a leader must possess an intense desire to succeed. Case describes this intense desire as passion, the second “P” of his theory. He says that a leader must possess a passion for the business. Similarly, Kouzes says that a leader can motivate others by aspiring to a shared vision (or passion). Drucker's theory of “Fustest With the Mostest” is aligned with both Case and Kouzes in that to be effective...
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...>cases A GEM of a Study >Abstract The Global Entrepreneurship Monitor Entrepreneurial Assessment, a joint project of The Kauffman Center for Entrepreneurial Leadership at Babson College and The London Business School, has undertaken a long-term, large-scale project to prove the causal links between a government’s economic policies and initiatives, the resulting entrepreneurial activity and subsequent economic growth. This case describes multiplestage research, including thousands of interviews in several countries by established research firms. >The Scenario What government policies and initiatives are most likely to generate high levels of entrepreneurial activity? Which are positively correlated with the economic well-being of a country as measured by growth in GDP and job formation? Project directors of the Global Entrepreneurship Monitor (GEM), who define entrepreneurship as “Any attempt at new business or new venture creation, such as self-employment, a new business organization, or the expansion of an existing business, by an individual, a team of individuals, or an established business,” suggest the following: • Promoting entrepreneurship, especially outside the most active age group (25-44), with specific programs that support entrepreneurial activity. • Facilitating the availability of resources to women to participate in the entrepreneurial process. • Committing to long-term, substantial postsecondary education, including training programs designed to develop...
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...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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...1042-2587 © 2008 by Baylor University E T&P Entrepreneurship in Emerging Economies: Where Are We Today and Where Should the Research Go in the Future Garry D. Bruton David Ahlstrom Krzysztof Obloj Emerging economies are characterized by an increasing market orientation and an expanding economic foundation. The success of many of these economies is such that they are rapidly becoming major economic forces in the world. Entrepreneurship plays a key role in this economic development. Yet to date, little is known about entrepreneurship in emerging economies. This introductory article to the special issue on entrepreneurship in emerging economies examines the literature that exists to date in this important domain. It then reviews the research that was generated as part of this special issue on this topic. The article concludes with a discussion of the critical future research needs in this area. Introduction The quantity and quality of entrepreneurship research has increased dramatically over the last 15 years. Today, entrepreneurship research is some of the most widely cited in the management discipline, with leading journals dedicated to its study and well-recognized conferences supporting its development. The methods employed and the theory foundations used in entrepreneurship today are consistent with mainstream management research. However, entrepreneurship research can still be critiqued as almost exclusively focused on North American and European research sites...
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...PREPARING THE NEXT GENERATION Key to the successful evolution of any family business is the development of the younger generation of the family members for the leadership, commercial and general business skills demanded of the family by the business. In addition, younger generations should understand the responsibilities that success can bring, and how best to ensure their positions of commercial influence and the benefits given to them by personal affluence, are deployed in ways which will give them the best chance of fulfilled, productive and happy lives. Key challenges include: * Development of family members involved in the business and preparing them for future leadership if appropriate * Educating the next generation to be responsible owners of the business * Encouraging them to be responsible with wealth * Developing a cohesive team in the next generation which can work together to arrive at consensus, allowing continued business success and family harmony. Challenges facing the next generation The next generation often have a tough act to follow. This, coupled with the normal challenges of family life, presents a particularly demanding set of challenges, including: * Increased choices - not all will want to join the business straight from study, if at all * The pressure of living up to expectations * Sibling rivalry * Knowing how to connect with the business if they are not directly involved * Changing lifestyles - children in family...
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...ENTREPRENEURSHIP: CONCEPT AND DEFINITION Shri Achintya Kr. Baruah, M.Com Associate Faculty Member Indian Institute of Entrepreneurship (Ministry of Industry, Department of SSI & ARI) Government of India Basisthat Chariali, Lalmati, 37, N.H. Bypass, Guwahati - 781029 ENTREPRENEURSHIP • A theory of evolution of economic activities. • A continuous process of economic development. • An ingredient to economic development. • Essentially a creative activity or an innovative function. • A risk taking factor which is responsible for an end result. • Usually understood with reference to individual business. • The name given to the factor of production, which performs the functions of enterprise. • Creates awareness among people about economic activity. • Generates Self-employment and additional employment WHY ENTREPRENEURSHIP • To improve backwardness of the people. • Economic development of the region. • To analysis resource utilization. • Proper utilization of human potentiality. • Special attention to take up new activities. • To create self-employment and generation of employment opportunity. • Eradication of regional imbalances. • Better economic gain. The early history of entrepreneurship in India reflect from the culture, customs and tradition of the India people. The Baliyatra Festival of Cuttack, Orissa reminiscence of past glory of International trade. To process of entrepreneurship therefore passed through the potential roots of the society and all those who accepted entrepreneurial...
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...Entrepreneurship and Government Support Name: Evans Gwaro Institution: Kisii University Entrepreneurship and Government Support Introduction Economic development requires people who are willing to risk their resources to start and operate profit-oriented enterprises in a country. This is the sole responsibility of entrepreneurs. Some scholars argue that entrepreneurship can be given definitions from different viewpoints such as theoretical or operational perspectives. Ogbo and Nwachuku (2012) argue that theoretical dimension covers many activities relating to uncertainties in a business while operational definitions relate to simpler or single activity. Regardless of the point at which an individual stands to define entrepreneurial practices, the bottom line is the concept that is concerned with taking great risks to bring changes in business by organizing, planning, and initiating processes that yield desired outcomes. In most cases, entrepreneurship is evident to dominate in small scale enterprises even though they constitute a large percentage of economic drivers. Despite the little capital that is pumped to run these enterprises, revenue generation is increasingly becoming significant in many economies. The role of Entrepreneurship in Economic Growth It is important to analyze the role played by entrepreneurs in the growth of economy in many countries. They are often referred to as ‘engines of economic growth’ because they propel economies (Ogbo & Nwachuku...
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