2-1 entrepreneur as a person. 2-2 entrepreneurial process 1)identify/evaluate opportunity (self...
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2-1
Entrepreneur as a PersonEntrepreneur as a Person
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2-2
Entrepreneurial ProcessEntrepreneurial Process
1)1) Identify/Evaluate Opportunity Identify/Evaluate Opportunity
(Self Evaluation)(Self Evaluation)
2)2) Develop Business PlanDevelop Business Plan
3)3) Determine Resources RequiredDetermine Resources Required
4)4) Manage The EnterpriseManage The Enterprise
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2-3
Inner Control / Disciplined
Risk taker Self Confident Self Starter Innovator Changed Oriented Persistent Visionary Leader Ability to manage
change Communication Ability to Organize Network building Being a team player Interpersonal
TYPES OF SKILLS REQUIRED IN ENTREPRENEURSHIP
Personal Personal Enterpreneurial SkillEnterpreneurial Skillss
Business plan & goal setting
Decision making Human Relations Marketing Accounting Management Control Negotiation Venture launch Managing growth
Business Business Management SkillManagement Skillss
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2-4
Opportunity AnalysisOpportunity AnalysisPersonal Observation (CB 1 / Self Personal Observation (CB 1 / Self Relation)Relation)
Market Need?Market Need?
Underlying Social ConditionsUnderlying Social Conditions
Market Research DataMarket Research Data
Assess Competition- Patents?Assess Competition- Patents?
Where Money To Be MadeWhere Money To Be Made
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2-5
Decision MakingDecision MakingManager vs. EntrepreneurManager vs. Entrepreneur
Domain- Administrative vs. Domain- Administrative vs. EntrepreneurialEntrepreneurial
Strategic OrientationStrategic Orientation
Commitment to OpportunityCommitment to Opportunity
Commitment of ResourcesCommitment of Resources
Control of ResourcesControl of Resources
Management StructureManagement Structure
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2-6
0 1 2 3 4 5 67
1. I have the ability to communicate - - - - - - --
2. I have the ability motivate others - - - - - - --
3. I have the ability to organize - - - - - - --
4. I can accept responsibility - - - - - - --
5. I can easily adapt to change - - - - - - --
6. I have decision making capability - - - - - - --
7. I have drive and energy - - - - - - --
8. I am in good health - - - - - - --
9. I have good human relations skill - - - - - - --
10. I have initiative - - - - - - --
11. I am interested in people - - - - - - --
12. I have good judgment - - - - - - --
13. I am open minded and receptive to new ideas - - - - - - --
14. I have planning ability - - - - - - --
15. I am persistent - - - - - - --
16. I am resourceful - - - - - - --
17. I am self confident - - - - - - --
18. I am self starter - - - - - - --
19. I am a good listener - - - - - - --
20. I am willing to be a risk taker - - - - - - --
Total Score - - - - - - --
0 1 2 3 4 5 67
1. I have the ability to communicate - - - - - - --
2. I have the ability motivate others - - - - - - --
3. I have the ability to organize - - - - - - --
4. I can accept responsibility - - - - - - --
5. I can easily adapt to change - - - - - - --
6. I have decision making capability - - - - - - --
7. I have drive and energy - - - - - - --
8. I am in good health - - - - - - --
9. I have good human relations skill - - - - - - --
10. I have initiative - - - - - - --
11. I am interested in people - - - - - - --
12. I have good judgment - - - - - - --
13. I am open minded and receptive to new ideas - - - - - - --
14. I have planning ability - - - - - - --
15. I am persistent - - - - - - --
16. I am resourceful - - - - - - --
17. I am self confident - - - - - - --
18. I am self starter - - - - - - --
19. I am a good listener - - - - - - --
20. I am willing to be a risk taker - - - - - - --
Total Score - - - - - - --
TEST YOUR POTENTIAL AS AN ENTREPRENEUR
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2-7
““Intrapreneurship”Intrapreneurship”
Instilling Instilling Entrepreneurial Entrepreneurial Spirit Within An Spirit Within An
Existing Existing Organization To Organization To
Innovate And Grow.Innovate And Grow.
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2-8
Organizational CultureOrganizational CultureCorporateCorporate
Climate/Reward Climate/Reward System Favors System Favors ConservatismConservatism
Follow Instructions, Follow Instructions, No InitiativeNo Initiative
Hierarchy Of Hierarchy Of AuthorityAuthority
IntrapreneurialIntrapreneurial Develop Vision, Develop Vision,
Goals, & PlansGoals, & Plans Suggest, Try, Suggest, Try,
ExperimentExperiment Flat Organizational Flat Organizational
Structure- Structure- Networking & Networking & TeamworkTeamwork
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2-9
Cultural Norms/ValuesCultural Norms/ValuesCorporateCorporate IntrapreneurialIntrapreneurialFragmentedFragmented WholeWhole
InstructionInstruction VisionVision
ControlledControlled In ControlIn Control
Outer-DirectedOuter-Directed Inner-DirectedInner-Directed
AlienationAlienation ResponsibilityResponsibility
““Chores”Chores” Enthusiasm/MotivationEnthusiasm/Motivation
Defined LimitsDefined Limits Space/FreedomSpace/Freedom
InterferenceInterference TrustTrust
DistrustDistrust Belief In PeopleBelief In People
ExpendableExpendable ExpandableExpandable
Limiting PeopleLimiting People Growing PeopleGrowing People
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2-10
Interest In IntrapreneurshipInterest In IntrapreneurshipRising Interest in “Doing Your Rising Interest in “Doing Your Own Thing”Own Thing”CorporationCorporation– Support To Retain Creative Support To Retain Creative
EmployeesEmployees– Fund StartupsFund Startups
HypercompetitionHypercompetitionCorporate vs. Intrapreneurial Corporate vs. Intrapreneurial CultureCulture
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2-11
Intrapreneurial ActivitiesIntrapreneurial Activities
New Business VenturingNew Business Venturing
InnovationInnovation
Self-RenewalSelf-Renewal
ProactiveProactive
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2-12
Climate for Climate for IntrapreneurshipIntrapreneurship
• TechnologyTechnology• New Ideas EncouragedNew Ideas Encouraged• Trial/Error EncouragedTrial/Error Encouraged• Failure AllowedFailure Allowed• No Opportunity No Opportunity
ParametersParameters• Resources Available & Resources Available &
AccessibleAccessible
• Multidiscipline TeamsMultidiscipline Teams• Long Time HorizonLong Time Horizon• Volunteer ProgramVolunteer Program• Appropriate Reward Appropriate Reward
SystemSystem
• Sponsors/Champions Sponsors/Champions
AvailableAvailable• Support of Top Support of Top
ManagementManagement
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2-13
Intrapreneurial LeadersIntrapreneurial LeadersUnderstand EnvironmentUnderstand Environment
Have Vision/FlexibilityHave Vision/Flexibility
Create Management OptionsCreate Management Options
Encourage TeamworkEncourage Teamwork
Encourage Open DiscussionEncourage Open Discussion
Build CoalitionsBuild Coalitions
PersistPersist
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2-14
Establishing IntrapreneurshipEstablishing Intrapreneurship
Commitment of Top ManagementCommitment of Top Management
Identify Ideas/Areas Interested In Identify Ideas/Areas Interested In SupportingSupporting
Use Technology For FlexibilityUse Technology For Flexibility
Managers Share/Train EmployeesManagers Share/Train Employees
Get Closer to CustomersGet Closer to Customers
Be More Productive With LessBe More Productive With Less
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2-15
Evaluating Evaluating Intrapreneurship ProposalsIntrapreneurship Proposals
Corporate FitCorporate Fit Initial InvestmentInitial InvestmentExperienced Experienced
Venture Venture ChampionChampion
Experience With Experience With Product/ServiceProduct/Service
Competitive Competitive ThreatThreat
Proprietary Proprietary TechnologyTechnology
Gross MarginGross Margin
Rate Of ReturnRate Of Return
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2-16
Barriers ToBarriers To Intrapreneurship Intrapreneurship
Inherent Nature of Large OrganizationsInherent Nature of Large OrganizationsNo Long-Term CommitmentNo Long-Term CommitmentLack Of Autonomy For Decision MakingLack Of Autonomy For Decision MakingLack of Intrapreneurial TalentLack of Intrapreneurial TalentInappropriate Compensation MethodsInappropriate Compensation MethodsConstrained EnvironmentConstrained Environment