Informacion

* Entrepreneurship—a way of thinking, reasoning, and acting that is opportunity obsessed, holistic in approach, and leadership balanced
(This definition of entrepreneurship has evolved over the past two decades from research at Babson College and the Harvard Business School and has recently been enhanced by Stephen Spinelli, Jr., and John H. Muller, Jr., Term Chair at Babson College.)
*Value:
* Creation
* Enhancement
* Realization
* Renewal
* For:
* Owners
* Stakeholders
* All Participants
* Willingness to take risks
* Personal
* Financial
* Calculated
* Shift the odds of success
* Balancing risks with rewards
* It includes companies and organizations
* All types
* At allstages
* Can occur and fail to occur
* In old and new firms
* Small and large firms
* Fast and slow growing firms
* Private, not-for-profit, and public sectors
* All geographic points
* All stages of a nation’s development
* Raw startup company—an innovative idea that develops into a high growth company
* Qualities of a startup company
*Strong leadership from the main entrepreneur
* Complementary talents and outstanding teamwork of team members
* Skill and ingenuity to find and control resources
* Financial backing to chase opportunity
* Giant firms of the past (IBM, Sears, AT&T) once thought to be invincible, have been reduced in size and scope by waves of entrepreneurial ventures.
* Large companies faceshrinking payroll while new ventures add jobs.
* New entrepreneurial rivals are changing the pace of “business as usual.”
“People don’t want to be managed. They want to be led.”—Ewing M. Kauffman
* Characteristics of giant firms
* Hierarchical in structure
* Leadership as managing and administering from the top down
* Rewards for “the largest” (assets, budgets, etc.)The Fall of the Giants
* Slow to change archaic strategy (average 6 years)
* Slow to change outdated culture (average 10 to 30 years)
* Slow to recognize and incorporate:
* entrepreneurship,
* entrepreneurial leadership, and
* entrepreneurial reasoning
Signs of Hope for Corporations
* Launching experiments and strategies to recapture the lostentrepreneurial spirit
* Working to instill the culture and practices of “entrepreneurial reasoning”
* Applying entrepreneurial thinking to invent their futures
Metaphors for Entrepreneurship
* Improvisational
* Quick
* Clever
* Creative
* Resourceful
* Inventive
* Complex – compare to music (jazz or symphony conductor), sports (golf), chess
Paradoxes of Entrepreneurship(1 of 3)
* An opportunity with no or very low potential can be an enormously big opportunity.
* To make money you have to first lose money.
* To create and build wealth, one must relinquish wealth.
* To succeed, one first has to experience failure.
Paradoxes of Entrepreneurship (2 of 3)
* Entrepreneurship requires considerable thought, preparation, and planning, yet isbasically an unplannable event.
* For creativity and innovativeness to prosper, rigor and discipline must accompany the process.
* Entrepreneurship requires a bias toward action and a sense of urgency, but also demands patience and perseverance.
Paradoxes of Entrepreneurship (3 of 3)
* The greater the organization, orderliness, discipline, and control, the less you will control your ultimatedestiny.
* Adhering to management best practice (especially staying close to the customer that created industry leaders in the 1980s), became a seed of self-destruction and loss of leadership to upstart competitors.
* To realize the long-term equity value, you have to forgo the temptations of short-term profitability.
Entrepreneurship is not Consistent or Predictable
Time for new...