Entrepreneurship

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Entrepreneurship

• Class 12 Review

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Student Assessment
Mar 11
Apr 22
Apr 20
SCU Apr 20-May 1
A1 2000 words essay on 1 of the 3
statements 15 references
1. People process of creativity 2. Young
entrepreneurs 3. Change in enterprise growth
A2 2000 words essay 20 minutes PPT
On Cooperate Entrepreneurship
Final 3 hour closed book 4 out of 6 questions,
2-3 pages per question
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Final Exam Topics

• Dark side of entrepreneurship
• Creative Thinking
• Growth
• Networking
• Succession planning
• Intrapreneurship

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Who Is an Entrepreneur?
Undertaker to Organize
Combiner of Resources

• A person who habitually creates and innovates to
  build something of recognized value around
  perceived opportunities

Value Added
Opportunity Recognition
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What is Entrepreneurship?

• Entrepreneurship is a dynamic process of creation
  new enterprise
• Essential ingredients include
• Recognize opportunity
• Marshal needed resources
• Taking calculated risks

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Dark Side of Entrepreneurship
negative traits of entrepreneurship

• Financial risk
• Career risk
• Family and social risk
• Psychic risk

bankruptcy
no secured job
energy time
ego stress
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Creativity Innovation

• Entrepreneurship Creativity Innovation

thinking new things
doing new things
combine resource add value
New Goods (New Quality) New Method of
Operation New Market New Supplies New
Organization of Industry
NEW THINGS?
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Creative Process
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Barriers to Creativity

• The study guide (p.30) outlines 10 such barriers.
  Discuss how an Entrepreneur could overcome such
  barriers.

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Venture Life Cycle
business plan
creativity innovation
growth
resource accumulation venture assessment strategy
formulation
strategy reformation management transition
new product development MA
business plan financing marketing team development
higher competition consumer indifference market
saturation
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Problems of Growth

• Based on the reasons you have identified what are
  some of the problems likely to be associated with
  them?
• How would you counter those problems? Answer this
  from the perspective of a consultant advising a
  client.

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Transition in Management
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Growth Problems

• Old timers what happens to them?
• Arrogance overcoming the success factor
• Internal turmoil conflict, work demands
• Resource demands cash flow issues, space, people.

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Types of Network
who will be involved in the entrepreneurial
network?
what can the entrepreneurial network provide?
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Contents of Network
generate idea test assumptions initiate action
build trust sanction opportunistic behavior
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Definition of Family Enterprise

• being owned and controlled by one or more members
  of an immediate family

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Succession Planning

• According to our discussion last topic,
  succession planning in family business can
  present several issues for the founder. Identify
  at least two important issues and then go on to
  explain how a founder of a family business can
  deal with those issues. Use an example to help
  illustrate your answer.

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Checklist for Succession
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Checklist for Identifying a Successor
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Definition of Intrapreneurship

• New venture creation within existing
  organizations and the transformation of
  organizations through strategic renewal
• Formal or informal activities aimed at creating
  new businesses in established companies through
  product and process innovations and market
  developments

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4 kinds of Intrapreneurship
internal market of secondary service
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Individual Characteristics of Intrapreneurship
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Elements of an Intrapreneurial Strategy

• Shared Vision
• Structure Climate
• Team

Top management support work discretion reward/enfo
rcement Time availability organizational
boundaries
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Marking Template A2