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Emergence of Entrepreneurship
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1. entrepreneurship definitions
2. entrepreneurial mindset
Entrepreneurship evolves due to various factors.
There are different schools of thoughts on the evolution of the entrepreneurship.
• Macro View
– Environmental Factors (e.g., institutional, social)
– Financial/Capital Factors (e.g., venture capital)
– Displacement (e.g., necessity driven; political, cultural, economic forces)
• Micro View
– Trait (e.g., achievement, creativity, determination, family background, educational training)
– Venture Opportunity (e.g., opportunity driven)
– Strategic (unique market, people, products, resources)
There is a range of different entrepreneurial types on the continuum of different motivations and orientations according to personal and environmental factors.
They are necessity driven, conventional, creative, opportunity driven, and serial entrepreneurs.
They differ in terms of their motivations on the entrepreneurial engagement, where necessity driven is ones who are pushed into entrepreneurship (survivalists, low scale business operators etc.), and serial who are the ones motivated to engage in establishing multiple business areas for high growth. |
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Definitions of Entrepreneurship
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1. Entrepreneur types
2. Cases
• DEFINITIONS OF ENTREPRENEURSHIP found in theories.
• “Entrepreneur” is derived from French “Entreprendre” and, literally translated, means “between-taker” or “go-between” (Hisrich & Peters, 1998) .
• “to undertake, organize, manage, and assume risks of a business.”
• “Innovator, developer who recognizes and seizes opportunities; converts opportunities into feasible ideas; adds value through time, efforts, money, or skills; assumes risks to implement these ideas; and realizes the rewards from these efforts.”
• Schumpter (1934) Entrepreneurship is seen as new combinations including the doing of new things or the doing of things that are already being done in a new way.
• Penrose (1959) Managerial services execute entrepreneurial services(ESs). Entrepreneurs provides ESs.
• Kirzer (1973) Alertness to unnoticed opportunities; therefore, entrepreneurship is the ability to perceive new opportunities. “Entrepreneurial Discovery
• Drucker (1985) Entrepreneurship is an act of innovation that involves endowing existing resources with new wealth producing capacity.
• Rumelt (1987) Entrepreneurship is the creation of new businesses. New business meaning that they do not exactly duplicate existing businesses but have some element of novelty.
• Low & MacMillan (1988) Entrepreneurship is the creation of new enterprise.
• Gartner (1988) Entrepreneurship is the creation of organizations, the process by which new organizations come into existence. Entrepreneurship ends when the creation stage of the organization ends. |
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Entrepreneurial mind-set
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Entrepreneurship in 3 perspectives
• Entrepreneurship #1: Starting a small Business
• Entrepreneurship #2: A mind-set
• Entrepreneurship #3: Change the world |
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How to change the world?
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How entrepreneur change the world & examples |
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Team Exercise #1
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How entrepreneur change the world & examples |
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Entrepreneurial competencies
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entrepreneur traits & motivations |
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7. |
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Human Motivation factors In entrepreneurial process
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entrepreneur traits & motivations |
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8. |
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Team Exercise #2
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Problem finding & defining |
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Opportunity Recognition
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Problem finding & defining |
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10. |
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Creative Thinking
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Creative Thinking & Problem Recognition |
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Areas of Creativity
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Creative Thinking & Problem Recognition |
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12. |
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Generating Ideas
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Creative Thinking & Problem Solving |
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13. |
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Morphological synthesis
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Creative Thinking & Problem Solving |
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Entrepreneurial Venturing
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Business Ideation |
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15. |
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Venturing Process
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Business Ideation |
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Bunsiness Modeling
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Bunsiness Modeling |
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Business Model Building
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Marketing Entrepreneurial way |
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Research Design
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Entrepreneurial Marketing Strategies |
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Entrepreneurial Marketing Strategies
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Entrepreneurial Marketing Strategies |
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Financial resources & financial statements
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Financial resources & financial statements |
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Start-up Finance
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Financial resources & financial statements |
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Team Presentation
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Team Presentation |
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