1 / 19

EVOLUTION OF ENTREPRENEURSHIP

EVOLUTION OF ENTREPRENEURSHIP. By Elisante Ole Gabriel (Tanzania) egabriel@edenconsult.net, www.olegabriel.com +255-784-455-499. NATURE OF ENTRENEURSHIP/Evolution. An entrepreneur is:

crescent
Download Presentation

EVOLUTION OF ENTREPRENEURSHIP

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. EVOLUTION OF ENTREPRENEURSHIP By Elisante Ole Gabriel (Tanzania) egabriel@edenconsult.net, www.olegabriel.com +255-784-455-499

  2. NATURE OF ENTRENEURSHIP/Evolution An entrepreneur is: • An innovator or developer who recognizes and seizes opportunities convert them into workable/marketable ideas. • Adds value through time, effort, money or skills • Assumes the risks of competitive marketplace to implement these ideas.

  3. Characteristics • Personal initiative • Ability to consolidate resources • Management skills • Desire for an autonomy • Risk taking • Aggressiveness • Competitiveness

  4. Characteristics • Goal oriented behaviour • Confidence • Opportunistic behaviour • Intuitiveness • Reality – based actions • Ability to learn from mistakes • Ability to employ human relations skills

  5. Evolution • “Entrepreneurship is the dynamic process of creating incremental wealth” • Entrepreneurship is an agent of change, providing creative, innovative ideas for businesses, helping businesses to grow and become profitable. • Entrepreneurs have created new products and services • Entrepreneurship is a “pioneer-ship on the frontier of business

  6. Evolution • Application of energy to initiating and building an enterprise • And not watching and analyzing risks – both personal and financial. • Do everything possible to reduce chances of failure.

  7. Approaches to Entrepreneurship • Macro view: presents a broad away of factors that relate to success or failure in the contemporary entrepreneurial ventures. • Micro view: examines the factor that is specific to entrepreneurship and are part of the internal locus of control.

  8. Approaches to Entrepreneurship/macro • Environmental school of thought (deals with external factor that affects a potential entrepreneur’s lifestyle. • Financial/Capital school of thought (based on the capital seeking process) • Displacement school of thought (focuses on group phenomena )

  9. Approaches to Entrepreneurship • Political displacement (regulations and policies) • Cultural displacement (ethnic background, race, religion, and sex) • Economic displacement (economic variation of recession and depression –job loss, capital shrinkage)

  10. Approaches to Entrepreneurship/micro • Entrepreneurial trait school of thought (focuses on successful people exhibit similar characteristics –achievement, creativity, determination, and technical knowledge) • Venture opportunity school of thought (focuses on opportunity aspect of venture development – creativity and market awareness are viewed as essential)

  11. Approaches to Entrepreneurship/micro • Proper preparation in the interdisciplinary segment of business will enhance the ability to recognize venture opportunities • Strategic formulation school of thought (planning process in successful venture – strategic planning is interwoven into the entire fabric of management)

  12. Approaches to Entrepreneurship/micro • Unique markets:mountain versus mountain gap strategies- identifying major market segments as well as in-between markets that arises from larger markets • Unique people: great chef strategy-skills or special talents. • Unique resources: water well strategy-special resources-land, labour, capital, raw materials)

  13. Approaches to Entrepreneurship Entrepreneurial Events Approaches (planning, implementing, and controlling entrepreneurial activities): • Initiative • Organization • Administration • Relative autonomy • Risk taking • environment

  14. Entrepreneurial assessment Approach • Assessment must be qualitative, quantitative, strategically and ethically in regard to entrepreneur, the venture and the environment

  15. Multidimensional Approach Combination of: • The individual • The environment • The organization • The process

  16. Individual • Need for achievement • Locus of control • Risk taking propensity • Job satisfaction • Previous work experience • Age • education

  17. Environment • Venture capital availability • Presence of experienced entrepreneur • Technically skilled labour • Accessibility of suppliers • Accessibility of customers or new markets • Government influence • Accessibility of transportation

  18. Organization • Type of firm • Entrepreneurial environment • Patterns • Strategic variables • Costs, differentiation, focus • Competitive entry wedges

  19. Finally Process • Entrepreneur locates a business opportunity • Entrepreneur accumulates resources • Entrepreneur markets products and services • Entrepreneur produces the product • Entrepreneur builds an organization • Entrepreneur responds to government and society.

More Related