entrepreneurship 101
Published on Nov 20, 2015
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PRESENTATION OUTLINE
What is an entrepreneur?
One who shifts resources out of an area of lower productivity and into an area of higher productivity and greater yield.
Definition
JB Say, French Economist first coined the term ‘entrepreneur’, using it to describe
‘Someone who shifts resources out of an area of lower productivity and into an area of higher productivity and greater yield.
JB Say, French Economist first coined the term ‘entrepreneur’, using it to describe
‘Someone who shifts resources out of an area of lower productivity and into an area of higher productivity and greater yield.
What does an entrepreneur do?
What do Entrepreneurs and what is the intended and unintended outcome?
Creative Destruction and Innovation
Creative Destruction and Innovation
Entrepreneurs innovate and develop new products/services or ways of doing business....
Joseph Schumpeter Harvard Professor and author of Capitalism, Socialism, and Democracy (1942) surmised the Innovation and the concept of Creative Destruction:
Entrepreneurs innovate and develop new products, services or ways of doing business, and in the process destroy those organizations that cannot adapt or have been effectively made redundant.
Entrepreneurs innovate and develop new products, services or ways of doing business, and in the process destroy those organizations that cannot adapt or have been effectively made redundant.
.....and in the process DESTROY those organizations that cannot adapt or have been effectively made redundant.
Joseph Schumpeter Harvard Professor and author of Capitalism, Socialism, and Democracy (1942) surmised the Innovation and the concept of Creative Destruction:
and in the process destroy those organizations that cannot adapt or have been effectively made redundant.
and in the process destroy those organizations that cannot adapt or have been effectively made redundant.
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characteristics of Treps
Who are the people behind these creative changes? Characteristics of Entrepreneurs
Self-Confident
Ability to Bounce Back
Innovative skills
Results oriented
Professional risk taker
Total Commitment
Self-Sufficient
Self-Disciplined
One distinguishing characteristic the almost all treps have is that they value independence and doing their own thing above everything. Including getting rich!
Self-Confident
Ability to Bounce Back
Innovative skills
Results oriented
Professional risk taker
Total Commitment
Self-Sufficient
Self-Disciplined
One distinguishing characteristic the almost all treps have is that they value independence and doing their own thing above everything. Including getting rich!
High value on doing their own thing!
Characteristics of Entrepreneurs
Self-Confident
Ability to Bounce Back
Innovative skills
Results oriented
Professional risk taker
Total Commitment
Self-Sufficient
Self-Disciplined
One distinguishing characteristic the almost all treps have is that they value independence and doing their own thing above everything. Including getting rich!
Self-Confident
Ability to Bounce Back
Innovative skills
Results oriented
Professional risk taker
Total Commitment
Self-Sufficient
Self-Disciplined
One distinguishing characteristic the almost all treps have is that they value independence and doing their own thing above everything. Including getting rich!
Types of Entrepreneurs
- Social Trep
- Intrapreneur
- Corporate venturing
Entrepreneurial Categories
Social Entrpreneurs :
Concenrned primarily with achieving sustainable social change
Intrapreneur:
Proposition that you dont have to leave the Big Corporation to become an entrepreneur. Big business begin to create an environment where managers could behave as though they were treps, but within the business, using its resources.
Social Entrpreneurs :
Concenrned primarily with achieving sustainable social change
Intrapreneur:
Proposition that you dont have to leave the Big Corporation to become an entrepreneur. Big business begin to create an environment where managers could behave as though they were treps, but within the business, using its resources.
Social Treps are concerned primarily with achieving social change employing business strategies as a sustainable catalyst
Intrapreneur is an entrepreneur within in a larger organization.
Intrapreneur:
Proposition that you dont have to leave the Big Corporation to become an entrepreneur. Big business begin to create an environment where managers could behave as though they were treps, but within the business, using its resources.
Proposition that you dont have to leave the Big Corporation to become an entrepreneur. Big business begin to create an environment where managers could behave as though they were treps, but within the business, using its resources.
Corporate venturing is when an established Corporation invest capital in an entrepreneural venture in exchange for ownership stake.
Corporate venturing entrepreneur
This is where a well established corporation invest capital in a venture that fits its invest portfolio and in turn takes share of ownership and profits.
High Finance, Strategic Partnerships, and Corporate Alliances
language of the trade
- ASSETS
- LIABILITY
- OWNERS EQUITY
- REVENUE
- EXPENSE
TOOLS OF THE TRADE
- ACCOUNTING
- FINANCE
- MARKETING/SALES
- ORGANIZATIONAL BEHAVIOR
- OPERATIONS MANAGEMENT
Accounting: What are the rules of the game? Bookkeeping How are transaction recorded? Cash Flow vs. Profit? Cash flow is life or death. Profit is vanity cash flow is sanity.
Finance: What is your source of funds. 2 type of people in the world those that pay interest and those that make it!
Asset backed Financiers,PE Bonds,Angels
Marketing : Markets have to identified, product attributes accessed, competitors understood and advertising messaged developed to reach chosen markets
Organizational B: Organizing inspiring motivating rewarding and managing both individuals and teams is the enduring challenge as they grow and develop. People are defining advantage.
Operations: How products or services get ready for market (production), delivered or executed, and the management information system designed to track performance
Finance: What is your source of funds. 2 type of people in the world those that pay interest and those that make it!
Asset backed Financiers,PE Bonds,Angels
Marketing : Markets have to identified, product attributes accessed, competitors understood and advertising messaged developed to reach chosen markets
Organizational B: Organizing inspiring motivating rewarding and managing both individuals and teams is the enduring challenge as they grow and develop. People are defining advantage.
Operations: How products or services get ready for market (production), delivered or executed, and the management information system designed to track performance
TOOLS OF TRADE
- QUANTITATIVE/QUALITATIVE ANALYSIS
QQ ANALYSIS: S
Sets out to measure each and every task and establish a system of work.
STRATEGY: Unifying discipline that deals with the core purpose of an enterprise and how it should respond to the challenges of a fast-changing environment.
Organization needs shared goals, values and a sense of purpose.
Sets out to measure each and every task and establish a system of work.
STRATEGY: Unifying discipline that deals with the core purpose of an enterprise and how it should respond to the challenges of a fast-changing environment.
Organization needs shared goals, values and a sense of purpose.
PRODUCT/SERVICE
PEOPLE
PROCESS
3 DIMENSIONS OF sTRATEGY
- INTELLECTUAL ANALYTICAL AND THINKING ASPECT
- DEVELOPMENT AND SHAPING OF SPECIFIC ACTIONS
- IMPLEMENTATION OF STRATEGY THROUGH BUSINESS PLANS
Intellectual thinking aspect used to devise a broad strategic direction
Development and shaping of specific actions in pursuit of those strategies
Implementation of strategy through execution of business plans
Development and shaping of specific actions in pursuit of those strategies
Implementation of strategy through execution of business plans
Strategy
- COST LEADERSHIP
- DIFFERENTIATION
- FOCUS
CL: Walmart Low cost should not be confused with low price.
Differentiation: Apple Deep understanding of what customers really want and need and are willing to pay more for.
Focus: Concentrating on serving a particular market or a defined geographic region
Differentiation: Apple Deep understanding of what customers really want and need and are willing to pay more for.
Focus: Concentrating on serving a particular market or a defined geographic region
