A-1. Entrepreneurial Perspectives

8/8/2019 A-1. Entrepreneurial Perspectives

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Entrepreneurship ManagementEntrepreneurship Management

-- Prof. J.C. SabooProf. J.C. Saboo


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W hat do you mean byW hat do you mean by

EntrepreneurEntrepreneur(oxford(oxford dictionary)dictionary): : PersonPerson whowho undertakesundertakes ananenterpriseenterprise withwith chanceschances of of profitprofit or or lossloss. .

EnterpriseEnterprise (oxford(oxford dictionary)dictionary): : BoldBoldUndertakingUndertakingEntrepreneurEntrepreneur --NewNew EncyclopediaEncyclopedia BritannicaBritannica: :

An An individualindividual whowho bearsbears thethe riskrisk of of operatingoperatingbusinessbusiness inin thethe faceface of of uncertaintyuncertainty aboutabout thethefuturefuture conditionsconditions. .CommonCommon MeaningMeaning: : oneone whowho startsstarts hishis own,own, newnewandand smallsmall businessbusiness


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EntrepreneurshipEntrepreneurship :: ItIt isis aa philosophyphilosophy or or processprocess throughthrough whichwhich anan entrepreneur entrepreneur

seeksseeks innovationinnovation andand employmentemployment. .

Entrepreneur Entrepreneur EntrepreneurshipEntrepreneurship EnterpriseEnterprisePersonPerson Process or PhilosophyProcess or Philosophy ObjectObject

EntreEntre enter enter PrePre beforebefore Neur Neur Nerve CentreNerve Centre

Entrepreneurship can be described as a creative

and innovative response to the environment.


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Entrepreneurship TheoriesEntrepreneurship Theories16001600: : FrenchFrench verbverb-- EntreprendreEntreprendre toto undertakeundertake17001700: : PersonPerson bearingbearing RisksRisks of of ProfitProfit inin aa fixedfixedpriceprice contractcontract (Risk)(Risk)17251725: : RichardRichard CantillonCantillon PersonPerson bearingbearing risksrisksisis differentdifferent fromfrom CapitalCapital Supplier Supplier (Risk)(Risk)18031803: : JJ.. BB.. SaySay ShiftsShifts economiceconomic resourcesresources outoutof of anan areaarea of of lower lower intointo anan areaarea of of higher higher

productivityproductivity && greater greater yieldsyields (Value(Value Addition) Addition)19341934: : JosephJoseph Schumpeter Schumpeter Innovator Innovator andanddevelopsdevelops untrieduntried technologytechnology (Productivity(Productivity &&Innovation)Innovation)


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Entrepreneurship TheoriesEntrepreneurship Theories19611961: : DavidDavid McClellandMcClelland highlyhighly motivated,motivated, energetic,energetic,moderatemoderate riskrisk taker taker (Need(Need for for achievement)achievement)19641964: : Peter Peter Drucker Drucker SearchesSearches for for change,change, respondsresponds

toto itit && exploitsexploits asas opportunityopportunity (Opportunity(Opportunity Focused)Focused)19801980: : KarlKarl Vesper Vesper Behaviour Behaviour PerceptionsPerceptions- -Economists,Economists, Psychologists,Psychologists, Businessmen,Businessmen, PoliticiansPoliticians(Environment)(Environment)19831983: : GiffordGifford PinchotPinchot -- Intrapreneur Intrapreneur 19851985: : RobertRobert HisrichHisrich -- CreatingCreating somethingsomething differentdifferent withwithvalue,value, devotingdevoting timetime && effort,effort, assumingassuming risksrisks (FPS)(FPS); ;resultsresults- -rewardsrewards andand satisfactionsatisfaction (Leadership(Leadership && Vision)Vision)

H ow do you define an entrepreneur in the 21 st

Century?


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EntrepreneurshipEntrepreneurship

I sI s thethe processprocess of of creatingcreating somethingsomethingdifferentdifferent withwith valuevalue byby devotingdevoting thethe

necessarynecessary timetime andand effort,effort, assumingassuming thetheaccompanyingaccompanying financial,financial, psychic,psychic, socialsocialrisksrisks andand receivingreceiving thethe resultingresulting

rewardsrewards of of monetarymonetary andand personalpersonalsatisfactionsatisfaction andand independenceindependence


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The Nature and Development of The Nature and Development of

EntrepreneurshipEntrepreneurshipEntrepreneur stems fromEntrepreneur stems fromFrench Verb EntreprendreFrench Verb Entreprendre

means betweenmeans between taker or go betweentaker or go between

N ew Definition involves four aspects :N ew Definition involves four aspects :The creation processThe creation process

The devotion of time and effortsThe devotion of time and effortsThe assumption of risksThe assumption of risksRewards of independence, satisfaction, money.Rewards of independence, satisfaction, money.


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To an IndividualTo an Individual

Self EmploymentSelf EmploymentEmployment for near & dear Employment for near & dear

Prolonged career for next generationsProlonged career for next generationsFreedom to use own ideasFreedom to use own ideas - - InnovationInnovationand creativityand creativityUnlimited income / higher retained incomeUnlimited income / higher retained incomeIndependenceIndependenceSatisfactionSatisfaction


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To the NationTo the Nation

Provides larger employmentProvides larger employmentResults in wider distribution of wealthResults in wider distribution of wealth

Mobilizes local resources, skills andMobilizes local resources, skills andsavingssavings

Accelerates the pace of economic Accelerates the pace of economic

developmentdevelopmentStimulates innovation & efficiencyStimulates innovation & efficiency


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Factors favouringFactors favouring

EntrepreneurshipEntrepreneurshipGrowth of educationGrowth of education- - science, technologyscience, technology& management& management

Developed infrastructure facilitiesDeveloped infrastructure facilitiesFinancial assistanceFinancial assistanceTraining facilitiesTraining facilities

Protective and promotional policiesProtective and promotional policiesGlobalizationGlobalization

Think of numerous other factors?


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W hat makes a SuccessfulW hat makes a Successful

Entrepreneur?Entrepreneur?The urge for achievementThe urge for achievementDetermination to winDetermination to win

WinWin--Win PersonalityWin PersonalityWillingness to take moderate risksWillingness to take moderate risksAbility to identify & exploreAbility to identify & explore

opportunitiesopportunitiesAnalytical ability to take strategicAnalytical ability to take strategicdecisionsdecisions


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PerseverancePerseveranceFlexibilityFlexibility

Capacity to plan and organizeCapacity to plan and organizePreparedness to undergo physical andPreparedness to undergo physical andemotional stressemotional stressPositive self conceptPositive self conceptFuture orientation:Future orientation: V isionV isionEthics and Values :Ethics and Values : M ission M ission


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W ho can be an Entrepreneur?W ho can be an Entrepreneur?

W ho can take moderate risksW ho can take moderate risksW ho has ability to work hardW ho has ability to work hardW ho can capitalize on opportunitiesW ho can capitalize on opportunitiesW

ho has some financial strengthW

ho has some financial strengthW ho feels the need for achievementW ho feels the need for achievementW ho has desire for responsibilityW ho has desire for responsibilityW ho has perception of probability of successW ho has perception of probability of successW ho gets stimulation by feedbackW ho gets stimulation by feedbackW ho possess skills in organizingW ho possess skills in organizingW ho can be male or femaleW ho can be male or femaleW ho may not have previous experienceW ho may not have previous experience


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Characteristics of anCharacteristics of an

Entrepreneur Entrepreneur Mental abilityMental abilityClear objectivesClear objectivesBusiness secrecyBusiness secrecyH.R. abilityH.R. abilityCommunication abilityCommunication abilityTechnical knowledgeTechnical knowledge

Achievement Achievement- -orientedorientedPerseverancePerseveranceEthicalEthical

Motivator Motivator Self Self--confidentconfidentLong termLong terminvolvementinvolvementHigh energy levelHigh energy levelProblem solver Problem solver Initiator Initiator Goal setter Goal setter Risk taker Risk taker


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Key elements of entrepreneur Key elements of entrepreneur

InnovationInnovationVisionVision

Ethics & ValuesEthics & ValuesOrganizing SkillsOrganizing SkillsRisk takingRisk taking

Need for AchievementNeed for Achievement

Study the Profile of a Successful Entrepreneur and identify six key elements in order of priority


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Entrepreneurs Background andEntrepreneurs Background and

CharacteristicsCharacteristicsFamily environmentFamily environmentEducationEducation

Age Age

Physical attributesPhysical attributesMarital statusMarital statusW orking historyW orking historyFamily contactsFamily contacts

Professional contactsProfessional contactsPersonal valuesPersonal valuesLifestyleLifestyle


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Analyze your Personality Analyze your Personality

Feelings about ControlFeelings about ControlFeelings about IndependenceFeelings about Independence

W illingness to take RisksW illingness to take Risks


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What is a job competency?What is a job competency?It is knowledge, skills and attitudeIt is knowledge, skills and attitudeKnowledgeKnowledge collection and retention of collection and retention of information.information.

Skills are ability to do something wellSkills are ability to do something well(hard and soft skills)(hard and soft skills)Motives are reasons for doing somethingMotives are reasons for doing something(need)(need)TraitsTraits characteristics way in, which a personcharacteristics way in, which a personresponds.responds.

Attitude reflects the way of thinking and acting Attitude reflects the way of thinking and acting

(Self and others determine the attitude)(Self and others determine the attitude)


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PerformancePerformance emergesemerges fromfrom thethecombinationcombination of of knowledge,knowledge, skillsskills andandattitudeattitude


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InitiativeInitiative TakingTaking actionsactions thatthat gogo beyondbeyond job job requirementsrequirements or or

demandsdemands of of thethe situationsituation. . DoingDoing thingsthings onon ownown beforebefore beingbeing askedasked for for or or beingbeing

forcedforced byby thethe eventsevents. . TakingTaking actionsactions toto startstart thethe businessbusiness andand expandexpand intointo newnewareas,areas, productsproducts andand servicesservices. .

SeeingSeeing && actingacting onon opportunitiesopportunities LookingLooking for for andand takingtaking actionsactions toto seizeseize opportunitiesopportunities SeeingSeeing andand actingacting onon opportunitiesopportunities for for businessbusiness

developmentdevelopment or or for for personalpersonal growthgrowth. . SeeingSeeing unusualunusual opportunitiesopportunities SeizingSeizing opportunities,opportunities, need,need, procuringprocuring andand mobilizingmobilizing

necessarynecessary resourcesresources. .


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PersistencePersistence Taking repeated actions to overcome obstacles thatTaking repeated actions to overcome obstacles that

get in the way of achieving goalsget in the way of achieving goals Taking actions in the face of obstacles.Taking actions in the face of obstacles. Ensuring all efforts to solve a problem or barrier.Ensuring all efforts to solve a problem or barrier.Information seekingInformation seeking Taking action s on own to help reach objectives.Taking action s on own to help reach objectives. Personally undertaking a research or analysis to findPersonally undertaking a research or analysis to find

out answers to some problem.out answers to some problem. Seeking information to clarify what is needed.Seeking information to clarify what is needed. Using networks to obtain information.Using networks to obtain information.


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Concern for high quality of workConcern for high quality of work Doing things that meet or beat existingDoing things that meet or beat existing

standard of excellence.standard of excellence. Stating a desire to produce work of highStating a desire to produce work of high

qualityquality Comparing work favorably to that of others.Comparing work favorably to that of others.

Making all out efforts to ensure the quality of Making all out efforts to ensure the quality of product or services.product or services.


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W ork commitment to contractW ork commitment to contract Placing highest priority for getting a jobPlacing highest priority for getting a job

completed.completed. Taking all the effort to complete a job.Taking all the effort to complete a job. Accepting responsibilities for failures. Accepting responsibilities for failures. Expressing utmost concern for the customersExpressing utmost concern for the customers

Readiness to work at any level to get workReadiness to work at any level to get workdone.done.


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Efficiency OrientationEfficiency Orientation Constantly looking for ways to do things faster or withConstantly looking for ways to do things faster or with

fewer resources or at a lesser cost.fewer resources or at a lesser cost. Using business tools to increase personal or Using business tools to increase personal or

professional efficiency.professional efficiency. Expressing concern for assessing cost versus rewardExpressing concern for assessing cost versus reward

of some improvements, changes or action.of some improvements, changes or action.Systematic PlanningSystematic Planning Developing and using logical steps to reach goals.Developing and using logical steps to reach goals. Breaking a large task into several sub tasks.Breaking a large task into several sub tasks. Developing plans after duly anticipating obstacles.Developing plans after duly anticipating obstacles. Evaluating alternatives on merits and demerits.Evaluating alternatives on merits and demerits.


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Problem SolvingProblem Solving Identifying and applying new ideas to reach the goals.Identifying and applying new ideas to reach the goals. Identifying the root cause of the problem.Identifying the root cause of the problem. Developing strategies in the light of objectives,Developing strategies in the light of objectives,

resources, and constraints.resources, and constraints. Generating new ideas or innovative solutions.Generating new ideas or innovative solutions.Self ConfidenceSelf Confidence Having a strong belief in own abilities.Having a strong belief in own abilities.

Sticking with own judgment in the face of oppositionSticking with own judgment in the face of oppositionor early lack of success.or early lack of success. Doing something for which chances of success areDoing something for which chances of success are

not very fair.not very fair.


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PersuasionPersuasion Persuading others successfullyPersuading others successfully Selling someone an idea, product or service.Selling someone an idea, product or service. Making someone agree to provide resourcesMaking someone agree to provide resources

Convincing with confidence, competence and respect.Convincing with confidence, competence and respect.Use of Influence StrategiesUse of Influence Strategies Using a variety of strategies to influence othersUsing a variety of strategies to influence others

successfullysuccessfully Developing professional and business contacts.Developing professional and business contacts.

Using influential people to get own things done.Using influential people to get own things done. Carefully limiting the information to be given to othersCarefully limiting the information to be given to others Using others authority and resources, but remainingUsing others authority and resources, but remaining

ethicalethical


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Assertiveness Assertiveness Confronting problems and issues with other directlyConfronting problems and issues with other directly Speaking politely but firmly.Speaking politely but firmly. Telling others clearly what they have to doTelling others clearly what they have to do Reprimanding those who fail to perform as expectedReprimanding those who fail to perform as expected

however close they may be.however close they may be.MonitoringMonitoring Ensuring smooth progress of project or work.Ensuring smooth progress of project or work.

Personally supervising all aspects of the work to itsPersonally supervising all aspects of the work to itscompletion.completion. Developing a system of supervision and monitoring.Developing a system of supervision and monitoring.


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Concern for others welfareConcern for others welfare Having a concern and taking actions toHaving a concern and taking actions to

improve others welfare.improve others welfare. Responding positively to employees specificResponding positively to employees specific

needs.needs. Having a concern for the welfare of Having a concern for the welfare of

employees, their families and society at large.employees, their families and society at large.


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Entrepreneurship

E lements

Promoters /shareholders values

Mission / objectives

Management Structure

Internal Power relationship

Physical assets &facilities

Co. image/ brand equity

Human resources

Financial capabilities

Technologicalcapabilities

Marketing capabilities

G eneral Aspect

Political

Socio-cultural

TechnologicalLegal

Economic

CompetitiveAspect

Potential NewEntrant

Buyers BargainingPower

SuppliersBargaining Power

SubstituteProducts

Business Environment&

Entrepreneurship


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EnvironmentEnvironmentP olitical :P olitical : System, Stability, LeadershipSystem, Stability, LeadershipS ocioS ocio--cultural :cultural : Culture, Community, Values,Culture, Community, Values,Ethics, AttitudeEthics, Attitude

T echnological :T echnological : Education, Absorption,Education, Absorption,Competition, InnovationCompetition, InnovationL egal :L egal : Regulatory framework, Consumer Regulatory framework, Consumer protection, Concern for environment, Labour protection, Concern for environment, Labour

lawslawsEconomic :Economic : GDP, GNP, Resources, Fiscal, NonGDP, GNP, Resources, Fiscal, Non- -fiscal policies, Incentives and Subsidiesfiscal policies, Incentives and Subsidies


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Dimensions of EnvironmentDimensions of Environment

SPECTACLESSPECTACLES Social,Social, Political,Political,Economic,Economic, Cultural,Cultural, Technological,Technological,

Aesthetic, Aesthetic, Customer,Customer, Legal,Legal, EnvironmentalEnvironmentalandand SectoralSectoralPEETSPEETS Political,Political, Economic,Economic, Ecological,Ecological,TechnologicalTechnological andand SocioSocio--demographicaldemographicalSLEPTSLEPT Social,Social, Legal,Legal, Economical,Economical,PoliticalPolitical andand TechnologicalTechnological


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Factors InfluencingFactors Influencing

EntrepreneurshipEntrepreneurshipIndividualEconomic

EnvironmentSocio-cultural

factors

SupportSystems

PoliticalE nvironment

LegalE nvironment

TechnologicalE nvironment


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Porters Model in thePorters Model in theCompetitive EnvironmentCompetitive Environment

B uyersB argaining

P ower

S ubstituteP roducts

S uppliersB argaining

P ower

P otentialN ew

Entrants

I ndustryRivalry


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BCG MatrixBCG Matrix


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Political & GovernmentalPolitical & GovernmentalEnvironmentEnvironment

G lobal

Trade BarriersTrade AgreementsTariffs & DutiesPolitical Risks

National

TaxationRegulationsProtections (Patents)Govt. spending

State G ovt.

TaxationState LawsLicensing /ApprovalsIncentives

Local Issues

Taxations ZoningCost of LivingLifestyle


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Environmental AnalysisEnvironmental Analysis

ScanningScanning toto detectdetect changechange (identify(identify keykeyelementselements andand their their characteristics)characteristics)MonitoringMonitoring toto tracktrack developmentdevelopment (that(that affectaffect thethesurvivalsurvival andand profitabilityprofitability of of thethe newnew business)business)ForecastingForecasting to to projectproject thethe futurefuture (such(such asas levellevel of of prices,prices, inflation,inflation, interestinterest rates,rates, availabilityavailability of of funds,funds, marketmarket share,share, marketmarket growth,growth, etcetc..

Assessing Assessing to to interpretinterpret datadata (what(what doesdoes itit allallmeanmean toto thethe entrepreneur?)entrepreneur?)


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Entrepreneurship and EconomicEntrepreneurship and Economic

DevelopmentDevelopmentEntrepreneurs set up EnterprisesEntrepreneurs set up EnterprisesEntrepreneurs combines resources, put their time andEntrepreneurs combines resources, put their time andefforts and produce goods or servicesefforts and produce goods or servicesW hat they contributeW hat they contribute productivity, output, valueproductivity, output, valueaddition, income and employmentaddition, income and employmentEntrepreneurship is a Low Cost Strategy.Entrepreneurship is a Low Cost Strategy.Entrepreneurs perform the crucial role themselvesEntrepreneurs perform the crucial role themselvesThe spirit of EntrepreneurshipThe spirit of Entrepreneurship Drive, achieving higher Drive, achieving higher

goals, creativity, innovative attitude.goals, creativity, innovative attitude. A dynamic society emerges and the spirit spreads like a A dynamic society emerges and the spirit spreads like achain reaction.chain reaction.


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The Invention ProcessThe Invention ProcessMarket Need

Technologyobservation

Need Analysis

Parameter Identification

CreativeSynthesis

Realization

Invention,whichmeets the

need


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Product Evolution ProcessProduct Evolution ProcessFundamentals

of Science

R ecognizedSocial Need

Beginning of Technological

Innovation

Invention / Innovation

Planning

Financing

Manufacturing

Marketing

Concept Testing

DevelopmentPhase

CommercialPhase

Technology

Modeling

Product Testing


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The Evolution ProcessThe Evolution Process

Intersection of Knowledge and aIntersection of Knowledge and arecognized social needrecognized social need

Initiation of technological innovationInitiation of technological innovationIterative SynthesisIterative SynthesisDevelopment PhaseDevelopment Phase

Industrial PhaseIndustrial Phase


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The Product Planning andThe Product Planning and

Development ProcessDevelopment ProcessI dea S tageI dea S tage IdeaIdea EvaluateEvaluateConcept S tageConcept S tage Lab DevelopmentLab Development EvaluateEvaluateP roduct Development S tageP roduct Development S tage -- Pilot ProductionPilot Production

EvaluationEvaluationT est Marketing S tageT est Marketing S tage-- Semi CommercialSemi CommercialProduction EvaluationProduction EvaluationCommercial S tageCommercial S tage IntroductionIntroduction

GrowthGrowthMaturityMaturityDeclineDecline


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CommercializationCommercialization

Role of GovernmentRole of GovernmentRole of CorporateRole of Corporate IntrapreneurshipIntrapreneurship

Role of IndividualsRole of Individuals EntrepreneurshipEntrepreneurship


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Development of TechnologyDevelopment of Technology Utilization of materialsUtilization of materials Exploitation & transformation of energyExploitation & transformation of energy Understanding and application of ScientificUnderstanding and application of Scientific

PrinciplesPrinciplesThe Role of GovernmentThe Role of Government PromotionalPromotional

NeutralNeutral RegulatoryRegulatory


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The Role of Smaller firmThe Role of Smaller firmTT -- High, MHigh, M- -HighHigh Large skilled resources,Large skilled resources,financial backing. Act as a Supplier or Subfinancial backing. Act as a Supplier or Sub Contractor Contractor TT -- High, MHigh, M- -L owL ow -- Specialist firm, access to low costSpecialist firm, access to low costresearchresearchTT --L ow, ML ow, M--HighHigh Linkage with wellLinkage with well- -establishedestablishedchannelschannelsTT --L ow, ML ow, M-- L owL ow W ell Suited to small firmW ell Suited to small firmL ow T echL ow T ech High VolumeHigh Volume Financial AbilityFinancial AbilityHigh T echHigh T ech L ow VolumeL ow Volume Strategic AbilityStrategic AbilityEmerging OptionsEmerging Options Franchisee; SubFranchisee; Sub- -contractor contractor


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Entrepreneurship and Management StudentsEntrepreneurship and Management StudentsEnterprisesEnterprises inin protectedprotected economyeconomy cancan bebe mismanagedmismanaged. .EnterprisesEnterprises in in competitivecompetitive environmentenvironment areare essentiallyessentiallytoto bebe managedmanaged. .

A A ManagementManagement GraduateGraduate is is aa personperson trainedtrained totomanagemanage anan enterpriseenterprise. . Naturally,Naturally, hehe willwill deliver deliver thethe bestbest

resultsresults. . A A ManagementManagement GraduateGraduate shouldshould notnot bebe just just aa JobJobSeeker Seeker.. HeHe cancan andand shouldshould taketake thethe rolerole of of JobJobProvider Provider. .

ExperienceExperience eveneven fromfrom HBSHBS confirmconfirm thatthat moremoreManagementManagement GraduatesGraduates taketake EntrepreneurialEntrepreneurial RoleRole(after (after somesome experience)experience) andand their their incomeincome isis higher higher thanthantheir their colleaguescolleagues whowho areare inin job job..

An Entrepreneur has to be a Manager.But a Manager need not be an Entrepreneur


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Entrepreneurial Decision ProcessEntrepreneurial Decision Process

Pull FactorsPull Factors Perception of Perception of

Advantages Advantages Spotting an OpportunitySpotting an Opportunity Government PoliciesGovernment Policies Motivation fromMotivation from

Biographies or SuccessBiographies or SuccessStoriesStories

Influenced by Culture,Influenced by Culture,Community, FamilyCommunity, FamilyBackground, Teachers,Background, Teachers,Peers, etc.Peers, etc.

Push FactorsPush Factors JobJob

DissatisfactionDissatisfaction RelocationRelocation LayLay--off off RetirementRetirement BoredomBoredom

C i f EC i f E


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Comparison of Entrepreneurs,Comparison of Entrepreneurs,Intrapreneurs and Traditional ManagersIntrapreneurs and Traditional Managers

TraditionalTraditionalManagersManagers

EntrepreneursEntrepreneurs IntrapreneursIntrapreneurs

Primary motivesPrimary motives Perks andPerks andpromotionpromotion

Self Self--employment,employment,satisfaction andsatisfaction andmoneymoney

Creative freedomCreative freedomand recognitionand recognition

Time OrientationTime Orientation ShortShort--termterm meeting quotas andmeeting quotas andbudgets; weekly,budgets; weekly,monthly, quarterlymonthly, quarterlyand the annualand the annual

planning horizonplanning horizon

ShortShort--termterm businessbusinessestablishment;establishment;LongLong--termterm growth of growth of

businessbusiness

Tend to follow theTend to follow themiddle pathmiddle path


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Activity Activity Delegates andDelegates andsupervisessupervises Direct involvementDirect involvement DirectDirectinvolvement , notinvolvement , notmerely delegationmerely delegation

RiskRisk CarefulCareful Moderate riskModerate risktaker taker

Moderate riskModerate risktaker taker

Monetary RiskMonetary Risk NilNil HighHigh NilNil

StatusStatus Concerned aboutConcerned aboutstatusstatus

unconcern aboutunconcern aboutstatusstatus

unconcernedunconcernedabout traditionalabout traditionalstatusstatus

Failure andFailure andmistakesmistakes Tries to avoidTries to avoidmistakes andmistakes andsurprisessurprises

Deals withDeals withmistakes andmistakes andfailuresfailures

Attempts to hide Attempts to hiderisky projectsrisky projectsfrom view untilfrom view untilreadyready


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DecisionsDecisions Like to take their Like to take their own but unable toown but unable todisagree with topdisagree with top

Follows dreamFollows dreamwith decisionswith decisions

Able to get others Able to get othersto agree to helpto agree to helpachieve their achieve their dreamsdreams

W ho servesW ho serves OthersOthers Self andSelf and

customerscustomers

Self, customers,Self, customers,

and sponsorsand sponsorsFamily historyFamily history Family membersFamily members

worked for largeworked for largeorganizationsorganizations

EntrepreneurialEntrepreneurialsmallsmall--business,business,professionalprofessional

EntrepreneurialEntrepreneurialsmallsmall--business,business,professionalprofessional

RelationshipRelationshipwith otherswith others Hierarchy as basicHierarchy as basicrelationshiprelationship Transactions andTransactions anddealdeal--making asmaking asbasic relationshipbasic relationship

TransactionsTransactionswithin hierarchywithin hierarchy

Documents

A-1. Entrepreneurial Perspectives