Entrepreneur as a Person - PowerPoint PPT Presentation

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Entrepreneur as a Person

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Presentation Transcript

  1. Entrepreneur as a Person

  2. Entrepreneurial Process • Identify/Evaluate Opportunity (Self Evaluation) • Develop Business Plan • Determine Resources Required • Manage The Enterprise

  3. TYPES OF SKILLS REQUIRED IN ENTREPRENEURSHIP Personal Enterpreneurial Skills Business Management Skills • Inner Control / Disciplined • Risk taker • Self Confident • Self Starter • Innovator • Changed Oriented • Persistent • Visionary Leader • Ability to manage change • Communication • Ability to Organize • Network building • Being a team player • Interpersonal • Business plan & goal setting • Decision making • Human Relations • Marketing • Accounting • Management • Control • Negotiation • Venture launch • Managing growth

  4. Opportunity Analysis • Personal Observation (CB 1 / Self Relation) • Market Need? • Underlying Social Conditions • Market Research Data • Assess Competition- Patents? • Where Money To Be Made

  5. Decision MakingManager vs. Entrepreneur • Domain- Administrative vs. Entrepreneurial • Strategic Orientation • Commitment to Opportunity • Commitment of Resources • Control of Resources • Management Structure

  6. TEST YOUR POTENTIAL AS AN ENTREPRENEUR • 0 1 2 3 4 5 6 7 • I have the ability to communicate - - - - - - - - • I have the ability motivate others - - - - - - - - • I have the ability to organize - - - - - - - - • I can accept responsibility - - - - - - - - • I can easily adapt to change - - - - - - - - • I have decision making capability - - - - - - - - • I have drive and energy - - - - - - - - • I am in good health - - - - - - - - • I have good human relations skill - - - - - - - - • I have initiative - - - - - - - - • I am interested in people - - - - - - - - • I have good judgment - - - - - - - - • I am open minded and receptive to new ideas - - - - - - - - • I have planning ability - - - - - - - - • I am persistent - - - - - - - - • I am resourceful - - - - - - - - • I am self confident - - - - - - - - • I am self starter - - - - - - - - • I am a good listener - - - - - - - - • I am willing to be a risk taker - - - - - - - - • Total Score - - - - - - - -

  7. “Intrapreneurship” Instilling Entrepreneurial Spirit Within An Existing Organization To Innovate And Grow.

  8. Corporate Climate/Reward System Favors Conservatism Follow Instructions, No Initiative Hierarchy Of Authority Intrapreneurial Develop Vision, Goals, & Plans Suggest, Try, Experiment Flat Organizational Structure- Networking & Teamwork Organizational Culture

  9. Cultural Norms/Values

  10. Interest In Intrapreneurship • Rising Interest in “Doing Your Own Thing” • Corporation • Support To Retain Creative Employees • Fund Startups • Hypercompetition • Corporate vs. Intrapreneurial Culture

  11. Intrapreneurial Activities • New Business Venturing • Innovation • Self-Renewal • Proactive

  12. Technology New Ideas Encouraged Trial/Error Encouraged Failure Allowed No Opportunity Parameters Resources Available & Accessible Multidiscipline Teams Long Time Horizon Volunteer Program Appropriate Reward System Sponsors/Champions Available Support of Top Management Climate for Intrapreneurship

  13. Intrapreneurial Leaders • Understand Environment • Have Vision/Flexibility • Create Management Options • Encourage Teamwork • Encourage Open Discussion • Build Coalitions • Persist

  14. Establishing Intrapreneurship • Commitment of Top Management • Identify Ideas/Areas Interested In Supporting • Use Technology For Flexibility • Managers Share/Train Employees • Get Closer to Customers • Be More Productive With Less

  15. Corporate Fit Initial Investment Experienced Venture Champion Experience With Product/Service Competitive Threat Proprietary Technology Gross Margin Rate Of Return Evaluating Intrapreneurship Proposals

  16. Barriers To Intrapreneurship • Inherent Nature of Large Organizations • No Long-Term Commitment • Lack Of Autonomy For Decision Making • Lack of Intrapreneurial Talent • Inappropriate Compensation Methods • Constrained Environment