personality of an entrepreneur · 2/10/2015 2 objectives understand a few important skills widely...
TRANSCRIPT
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E N T R E P R E N E U R S H I P ( M G T - 2 7 1 ) W E E K 2
Personality of an Entrepreneur
Lecture Outline
Intrapreneurship and its relevance
Social Entrepreneurship
“Instrinsic” factors and “Extrinsic” factors in
entrepreneurship
Some essential and useful skills and behaviours
Risks associated with entrepreneurship
Social Capital
Leadership
Class Activitie(s)
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Objectives
Understand a few important skills widely recognised as
essential for entrepreneurs
Self assessment of personal skills
Role of intrinsic factors in determining the
entrepreneurial behaviour
Understand how behaviour and attitude affect outcome
THE E-MYTH
The E-Myth: Why most businesses don’t work and what
to do about it.
By Michael E. Berber
Three types of persons involved in modern business
The Entreprener
The Manager
The Technician
Most are focused on a job than a business
Entrepreneur acting as a technician
Lack of “Entrepreneurial Perspective”!
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Approaches to teaching Entrepreneurship
1) learn to understand entrepreneurship,
2) learn to become entrepreneurial, and
3) learn to become an entrepreneur
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Myths of Entrepreneurship
1. Entrepreneurs Doers, not Thinkers
2. Entrepreneurs are born, not made
3. Entrepreneurs must fit the profile
4. All you need is money
5. All you need is luck
6. They seek success yet experience high failure rates
7. Entrepreneurs are gamblers
How relevant and useful is this course to you?
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Intrapreneurship
“..innovation of any kind within an organisation.” – (Gifford Pinchot, 1985)
www.techchange.org
www.dazeinfo.com
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http://impactseplaa-sf.org/social-entrepreneurship-the-simple-solution/
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Measure of Success
•Profitability
Business Entrepreneurship
•Social Impact
Social Entrepreneurship
Intrinsic Factors and Extrinsic Factors
What determines the success of a Entrepreneur?
Intrinsic factors include innate behavioral traits
(Personal characteristics, values and beliefs)
Extrinsic factors associated with the environment
Success depends on
combination of both!
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Intrinsic and Extrinsic Factors
Intrinsic Factors Optimism
Vision
Innovation
Initiative
Desire for control
Drive & persistence
Risk tolerance
Resilience
Ethics
Focus
Ambiguity tolerance
Education
Experience
Extrinsic Factors Available opportunities
Financial capital
Social capital
Idea
Favorable market environment (govt., market demand, etc)
Planning
Effective execution
Education
Experience
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List of characteristics of an entrepreneur
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Prominent characteristics of entrepreneurs
Commitment & Perseverance
Risk taker
Innovative thinker
Opportunity oriented
Motivated (Can-do attitude)
Self confident
Resourceful
Vision
Internal locus of control
Team builder
Independent
Willing to step out of the comfort zone
Risks associated with Entrepreneurship
Higher the reward greater the risk
Entrepreneurs have a range of attitudes towards risk
Attitudes and goals influence the outcomes
Different types of risks
Financial
Career
Family or Social
Psychological Risk
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List of most commonly observed talents
Self confidence
Creative thinker
Determination/Perseverance
Independent
Persuasive/ Promoter
Relationship builder
Risk taker!
S E L F A S S E S S M E N T Q U E S T I O N N A I R E
Class Activity
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Social Capital
What is it?
Why is it important?
Type of social ties and they are beneficial or harmful?
Sociograph: Social Capital
Who has more power?
1
2
3
4
5
Pat
1
2 3
4
5
Chris
Structural holes
Dense Networks
Centrality
Isolates
Strong Ties Weak Ties
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Team Leadership Behaviours
Navigator Helps to establish the team’s purpose and direction, and
keeps team focused on that direction as it proceeds with its work.
Social Integrator Helps to develop and maintain team cohesiveness,
communication and effective conflict management.
Engineer Helps to structure and restructure the team and the task
in the most efficient and effective ways for meeting goals. Who does what when.
Liaison (boundary management) Helps to develop and maintain positive and useful
relationships with external stakeholders. Solicits needed outside resources, information and feedback.
Emotional Intelligence
Self awareness ›The ability to understand feelings and
accurately assess self-related strengths
and weaknesses
Social awareness ›The ability to read people and groups
accurately
Self management ›The ability to manage internal states,
impulses and resources including self
motivation
Social Skill ›The ability to induce desirable
responses in others
Goldman, 1998