...AND THE ENTREPRENEURIAL MIND-SET I. THE NATURE OF ENTREPRENEURSHIP A. Entrepreneurial actions begin at the nexus of a lucrative opportunity and an enterprising individual. . B. An entrepreneurial opportunity could stem from introducing an existing technological product used in one market to create a new market or it could be creating a new technological product for an existing market or creating a new product for a new market. 1. Because opportunities exist in high uncertainty, entrepreneurs must use their judgment about whether or not to act. 2. The individual’s prior knowledge can decrease the amount of uncertainty. C. The McMullen-Shepherd model explains how knowledge and motivation influence two stages of entrepreneurial action. 1. Signals of changes in the environment that represent possible opportunities will be noticed by some individuals but not others. 2. Individuals with knowledge of markets and technology are more capable of detecting changes in the external environment, and if motivated will allocate further attention to processing this information. 3. The result of Stage 1 is an individual’s realization that an opportunity exists for someone. 4. The result of Stage 2 is the individual then needs to determine whether it represents an opportunity for him or her. D. To be an entrepreneur is to act on the possibility that one has identified an opportunity worth pursuing and it involves entrepreneurial thinking...
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...not write this essay: The Sources of Entrepreneurial Opportunities: Individuals & the Environment Doctoral Research Paper 2 of 5 Nikolina Fuduric Doctoral Supervisor: Professor Anne Lorentzen February 2008 Department of Planning and Development Aalborg University Aalborg, Denmark 1.0 INTRODUCTION No extensive empirical study on the sources of entrepreneurial opportunities included the individual, the environment and the individual’s start-up activities in a post-socialist periphery. However, such layered approaches have been encouraged in theoretical studies of entrepreneurship. Bouchikhi (1993) claims that each approach taken separately has crucial weaknesses and neither the personality of the entrepreneur nor the structural characteristics of the environment illuminate the process. Thus, multi-leveled studies have been encouraged in research programs (Low & MacMillan, 1988). In my previous paper, I attempted to examine the different forms of entrepreneurship by using the interplay between individual personality traits and capabilities and the institutional environment. The goal of this paper is to examine the sources of entrepreneurial opportunities from the perspective of individual and environmental factors. Since opportunities define how the entrepreneur behaves and what kinds of entrepreneurship are manifested, entrepreneurial opportunity discovery and exploitation are...
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...The Sources of Entrepreneurial Opportunities: Individuals & the Environment Doctoral Research Paper 2 of 5 Nikolina Fuduric Doctoral Supervisor: Professor Anne Lorentzen February 2008 Department of Planning and Development Aalborg University Aalborg, Denmark 1.0 INTRODUCTION No extensive empirical study on the sources of entrepreneurial opportunities included the individual, the environment and the individual’s start-up activities in a post-socialist periphery. However, such layered approaches have been encouraged in theoretical studies of entrepreneurship. Bouchikhi (1993) claims that each approach taken separately has crucial weaknesses and neither the personality of the entrepreneur nor the structural characteristics of the environment illuminate the process. Thus, multi-leveled studies have been encouraged in research programs (Low & MacMillan, 1988). In my previous paper, I attempted to examine the different forms of entrepreneurship by using the interplay between individual personality traits and capabilities and the institutional environment. The goal of this paper is to examine the sources of entrepreneurial opportunities from the perspective of individual and environmental factors. Since opportunities define how the entrepreneur behaves and what kinds of entrepreneurship are manifested, entrepreneurial opportunity discovery and exploitation are two integral parts of the entrepreneurial process.[1] The field of entrepreneurship...
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...Bachelor’s paper was developed with the objective to carry out an in – depth study of literature source on the entrepreneurial universities, its functions and development stages of universitie. As well as to understand classical institutions of higher education and entrepreneurial universities transformation oppurtunities. As part of the job was researched 2 universities – University of Twente (entrepreneurial university) and Ventspils University, as well as carried out interviews with 3 experts. In the research has been conscious the university development history, entrepreneurial model of universities, functions and viewed transformation opportunities form classical university to entrepreneurial university. The research paper ir valuable and useful for the both the authoress and Ventspils University, as well as other Latvias higher education institutions, because this topic in Latvia is little studied, as evidenced by the lack of literary sources. The study results indicate that Ventspils institution of higher education has the potential to become entrepreneurial university, but the most important factor in this process is inserting the entrepreneuship in to the staff and students minds. Each universities ecosystem is important, that creates a entrepreneurial environment and provides oppurtunities to build your own business. The authoress has concluded that the entrepreneurial universities promotes regional and also all economic development, because the universities have centres...
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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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...THE ROLE OF ENTREPRENEURIAL OREINTATION ON ENTREPRENEURIAL INNOVATIVENES: A CASE STUDY OF SMALL AND MEDIUM SCALE ENTREPRISE IN LAGOS STATE, NIGERIA BY FATOYE, MUSTAPHA OBI 08S04/046 BEING A RESEACH PROJECT SUMITTED TO THE DEPARMENT OF BUSNESS ADMINISTRATION, FACULTY OF SOCIAL AND MANAGEMENT SCIENCES, AJAYI CROWTHER UNIVERSITY, OYO IN PARTICAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF BARCHELOR OF SCIENCE (B.S.C) DEGREE IN BUSINESS ADMINISTARTION (MANAGEMENT OPTION) JULY, 2012 CERTIFICATION This is to certify that this project was written by FATOYE MUSTAPHA OBI (MARICULATION NUMBER 08S04/046) in partial fulfilment of the requirement for the award of bachelor of science (B.S.c) degree in business administration (management option) of the department of business administration, faculty of social and management sciences, Ajayi Crowther university, Oyo, Oyo State. MR. P.A Akanbi ....................... (Project supervisor) Date DR. O.E Ofoegbu ........................ (HOD, Business Administration) Date PROF. S.O. Akano ....................... (Dean, SMS) Date .............................. ........................ EXTERNAL EXAMINER Date DEDICATION This work is dedicated to God Almighty who generously gave me the strength, health and other resources to successfully accomplish this research. ACKNOWLEDGEMENTS This period of my life had been a period of trials and revelation but...
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...Strategy in Entrepreneurial Ventures A case study by, Arun Venkatachalam FT MBA 2009/10 May, 2010 Table of Contents 1. 1.1. 1.2. 1.3. 1.4. 2. 2.1. 2.2. 2.3. 2.4. 2.5. 3. 3.1. 3.2. 3.3. 3.4. 4. 4.1. 4.2. 4.3. 5. BACKGROUND ....................................................................................................................................... 3 Who or What is ‘LOVEFiLM.COM’? ................................................................................................. 3 Why are they considered a high growth entrepreneurial company? ..................................................... 4 Where they are currently? .................................................................................................................... 6 What is the basis for this report? .......................................................................................................... 6 BEGININING OF ‘LOVEFiLM.COM’ .................................................................................................... 7 The Innovative Online Business Opportunity ...................................................................................... 7 The Market Analysis of 2001/2002 ...................................................................................................... 9 Strategic Analysis of the Business Environment ................................................................................ 10 Competitor Analysis ...........................................
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...GLOBAL ENTREPRENEURSHIP MONITOR Entrepreneurs and Entrepreneurial Employees Across the Globe Niels Bosma, Sander Wennekers and José Ernesto Amorós 2011 Extended Report: GLOBAL ENTREPRENEURSHIP MONITOR 2011 EXTENDED REPORT: Entrepreneurs and Entrepreneurial Employees Across the Globe Niels Bosma, Utrecht University & Global Entrepreneurship Research Association Sander Wennekers, EIM Business & Policy Research José Ernesto Amorós, Universidad del Desarrollo Founding and Sponsoring Institutions: Babson College, Babson Park, MA, United States Lead Sponsoring Institution and Founding Institution Universidad del Desarrollo, Santiago, Chile Sponsoring Institution UniversitiTun Abdul Razak, Malaysia Sponsoring Institution London Business School, London, United Kingdom Founding Institution Although GEM data were used in the preparation of this report, their interpretation and use are the sole responsibility of the authors. The authors would like to thank Erkko Autio, Alicia Coduras, ...
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...(March 2015) The learning outcomes: • Integrate concepts and principles, understandings of entrepreneurial issues into actual business ideas and scenario applications • Exhibit high level of group efforts and cooperativeness • Effective roles as group members. The Task: The group tasks to identify and choose a successful entrepreneur, and come up with a report (which also needs to be presented) on the findings that relate to entrepreneurial issues about the entrepreneur and the business. Refer to the Rubric for Assessing Group Project below as to what are the areas that your group need to provide/cover in your report. The requirements: The report should be prepared using Microsoft office word, with line spacing of 1.5, using font 11 on Times New Roman or Arial. The length of the report should be between 3,000 to 3,500 words. Proper heading and sub-heading should be used to organize the flow of the report. Minimum of 15 sources should be used to prepare the report. A softcopy of the report should be kept by the group, in case of the lost of report. Plagiarism could be penalized to Zero mark. The report is due on the 12th week of the semester, in class – after which, marks could be deducted based on lateness. RUBRICS FOR ASSESSING GROUP PROJECT PAPER Principles of Entrepreneurship (ENT530) Entrepreneurial Opportunity or Business Issues Identification & Analysis Skill | | | ...
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...PARADIGM SHIFTS IN ENTREPRENEURIAL LEADERSHIP Continual Paradigm Shifts in Entrepreneurial Leadership Barbara Gilley Professor Daniel Frost BUS508013VA016-1116-00: Strayer University July 17, 2011 CONTINUAL PARADIGM SHIFTS IN ENTREPRENEURIAL LEADERSHIP Pg.2 ABSTRACT This paper will focus on Creating a hybrid theory/philosophy which combines the common elements found in the thinking of Case, Kouzes, and Drucker, including the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today’s Dynamic Markets, and will describe what type of organization a transactional, transformational, and authentic leader would thrive in the most, as well as which type of leader would thrive the least, as well as, evaluating the resources and tools available through the Small Business Administration and SCORE, and determine which single resource or tool is most useful to the greatest number of businesses; a rationale will be explained. This paper will evaluate the resources and tools available through the Small Business Administration and SCORE, and determine which single resource or tool is most useful to the greatest number of businesses and a rationale will be explained; and this paper will create a list of leadership best practices that would apply to the greatest number of businesses both small and large, and a rationale will be explained. CONTINUAL PARADIGM SHIFTS IN ENTREPRENEURIAL LEADERSHIP Pg. 3 ...
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...Women In Entrepreneurship The Entrepreneurial Advantage Of Nations: First Annual Global Entrepreneurship Symposium United Nations Headquarters April 29, 2003 Maria Minniti, Ph.D. Pia Arenius 1 WOMEN IN ENTREPRENEURSHIP Maria Minniti, Ph.D. Babson College minniti@babson.edu Pia Arenius Helsinki University of Technology pia.arenius@hut.fi In 1999 the Global Entrepreneurship Monitor (GEM) program was initiated by Babson College and London Business School with sponsorship from the Kauffman Foundation to: • • • • Measure differences in the level of entrepreneurial activity between countries. Probe for a systematic relationship between entrepreneurship and national economic growth. Uncover factors that lead to higher level so of entrepreneurship. Suggest policies that may enhance the national level of entrepreneurial activity. Data were assembled for each participating country from four basic sources: 1) surveys of over a hundred thousand adults; 2) in-depth interviews with almost a thousand national experts on entrepreneurship; 3) standardized questionnaires completed by the national experts, and 4) a wide selection of standardized national data from such sources as the World Bank, International Monetary Fund, United Nations and the like. The 37 countries participating in 2002 provides a truly global assessment of these issues. The Kauffman Foundation and the Business Council for the United Nations recently convened the first international policy discussion related...
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...^ Academy oi Management Review 2000, Vol. 25, No. 1, 217-22G. NOTE THE PROMISE OF ENTREPRENEURSHIP AS A . FIELD OF RESEARCH SCOTT SHANE University of Maryland S. VENKATARAMAN tiniversity of Virginia To date, the phenomenon of entrepreneurship has lacked a conceptual framework. In this note we draw upon previous research conducted in the different social science disciplines and applied fields of business to create a conceptual framework for the field. With this framework we explain a set of empirical phenomena and predict a set of outcomes not explained or predicted by conceptual frameworks already in existence in other fields. For a field of social science to have usefulness, it must have a conceptual framework that explains and predicts a set of empirical phenomena not explained or predicted by conceptual frameworks already in existence in other fields. To date, the phenomenon of entrepreneurship has lacked such a conceptual framework. Rather than explaining and predicting a unique set of empirical phenomena, enfrepreneurship has become a broad label under which a hodgepodge of research is housed. What appears to constitute entrepreneurship research today is some aspect of the setting (e.g., small businesses or new firms), rather than a unique conceptual domain. As a result, many people have had trouble identifying the distinctive contribution of the field to the broader domain of business studies, undermining the field's legitimacy. Researchers in other fields ask...
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...New Business Why existing business leave gaps in the market 1. Established business fail to see new opportunities-opportunities do not present them, they have to be actively sought out. 2. New opportunities are thought to be too small-value of a new opportunity must been seen as relative to size of the business which might pursue it. 3. Technological Inertia-opportunities are pursued by innovation. 4. Cultural Inertia-an established business has its own way of doing things. 5. Internal Politics-managers in established organizations often engage in political infighting. 6. Anti-trust actions by government-government are concerned to ensure that monopolies do not distort the working of an economy. 7. Government intervention to support the new entrant-government are acutely aware of the importance, both economic and political, of small and fast growing new firms in an economy. 8. An economic perspective on entrepreneurial gaps-established businesses leave gaps largely because they lack adeptness in exploiting some opportunities, leaving space into which entrepreneur can move. 9. A word of warning-despite its inherent advantages, leaves gaps into which the ambitious new entrant can move because they often undervalue new opportunities. The Strategic Window: A visual metaphor 1. Seeing the window: scanning for new opportunities-involves scanning the solid wall presented by existing players to find the windows and spots the gaps in what...
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...The Promise of Entrepreneurship as a Field of Research Author(s): Scott Shane and S. Venkataraman Source: The Academy of Management Review, Vol. 25, No. 1 (Jan., 2000), pp. 217-226 Published by: Academy of Management Stable URL: http://www.jstor.org/stable/259271 . Accessed: 15/07/2014 10:10 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. . Academy of Management is collaborating with JSTOR to digitize, preserve and extend access to The Academy of Management Review. http://www.jstor.org This content downloaded from 130.37.164.140 on Tue, 15 Jul 2014 10:10:19 AM All use subject to JSTOR Terms and Conditions t Academy of Management Review 2000, Vol. 25, No. 1, 217-226. NOTE AS THE PROMISE OF ENTREPRENEURSHIP A FIELD OF RESEARCH SCOTT SHANE Universityof Maryland S. VENKATARAMAN Universityof Virginia To date, the phenomenon of entrepreneurshiphas lacked a conceptual framework.In social science this note we draw upon previous research conducted in the different disciplines and applied fields...
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.................................................................................................... 4 Strong sense of basic ethics and integrity ..................................................................................... 4 Self-motivated ............................................................................................................................... 5 Self-Confidence ............................................................................................................................ 5 Creativity, Self-Reliance, and Adaptability .................................................................................. 5 Entrepreneurial Skills............................................................................................................................. 5 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 2.10 Opportunity identification and Creative thinking ......................................................................... 6 Strategic Planning skills ................................................................................................................ 6 Resourcefulness...
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