opportunity recognition

16
Kom verder. Saxion. How Business Management benefit from Entrepreneurship Opportunities recognition Matthijs Hammer Senior lecturer Entrepreneurship

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Page 1: Opportunity recognition

Kom verder. Saxion.

How Business Management benefit from

Entrepreneurship

Opportunities recognition

Matthijs HammerSenior lecturer Entrepreneurship

Page 2: Opportunity recognition

Kom verder. Saxion.

Evolution of Business models

majority of the business management models stay unchanged. E.g.:•Abell (Abell &Hammond, 1979)

•Deming (Deming, 1982)

•Mc Gregor (McGregor, 1960)

•Mintzberg (Mintzberg, 1979)

•Porter (Porter, 1980)

Page 3: Opportunity recognition

Kom verder. Saxion.

new ventures, small businesses andentrepreneurship are a major factor on economic growth (Ahmad &

Seymour, 2008; Gries & Naudé, 2009; Schumpeter, 1934; Sijgers, Hammer, ter Horst, Nieuwenhuis, & van der Sijde, 2005; Thurik & Wennekers, 2004; Wennekers & Thurik, 1999).

Evolution on economic development

Page 4: Opportunity recognition

Kom verder. Saxion.

Example

See possibilities Tackle opportunities

Know where to find it.

Successful applicatio

n

Page 5: Opportunity recognition

Kom verder. Saxion.

• 0• 2• 4• 6• 8• 10

O.K.

Not O.K.

Item Figure PerceptionItem Figure PerceptionData

Knowledge

Information

Competent Behaviour

Sense

Innovative

• 3• 5• 8• 10

Source: N. Vloon, 2002

Can successful apply

Successful application resulting in competitive advantage.

Perception from Perception from industryindustry

Page 6: Opportunity recognition

Kom verder. Saxion.

Knowledge / Application ?Knowledge / Application ?

CanKnow

Weight in the curricula

Page 7: Opportunity recognition

Kom verder. Saxion.

Principles of effectuations

decision making heuristics learned by expert entrepreneurs in uncertain, disruptive situations

Page 8: Opportunity recognition

Kom verder. Saxion.

8

Means. The basis for decisionsand new opportunities:

– Who I am– What I know– Whom I know

Goals vs meansGoals. Given (based on predictions)

Page 9: Opportunity recognition

Kom verder. Saxion.

9

Affordable Loss. Calculate downside potential and risk no more than you can afford to lose.

Risk, Return and Resources

Expected Return. Calculate upsidePotential and pursue the(risk adjusted) best opportunity.

Page 10: Opportunity recognition

Kom verder. Saxion.

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Partnership. Build your “future” together with customers, suppliers and even prospective

competitors.

Attitude toward othersCompetition. Set up transactional

relationships with customers andsuppliers.

Page 11: Opportunity recognition

Kom verder. Saxion.

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Surprise

• Leverage Surprises.Surprises can present new opportunities.

• Avoid Surprises.

Page 12: Opportunity recognition

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Underlying logic & what to do

To the extent we can predict the future, we can control it.

PLAN

To the extent we can control the future, we don’t need to predict it.

CO-CREATE

Page 13: Opportunity recognition

Kom verder. Saxion.

Difference in development

Falcon

GooseGoose

Page 14: Opportunity recognition

Kom verder. Saxion.

Conclusion

The adoption of an entrepreneurial approach of the learning process and the knowledge of entrepreneurial methodologies as effectuation seems to be practical aspects to start.

Page 15: Opportunity recognition

Kom verder. Saxion.

Thank you for your attention

Page 16: Opportunity recognition

Kom verder. Saxion.

For more information, suggestions or cooperation, do

not hesitate to contact:

[email protected]