Shorter Individual Assignment Format
COVER SHEET EXECUTIVE SUMMARY
TABLE OF CONTENTS
LIST OF TABLES
LIST OF FIGURES
Introduction: Some interesting definitions
An entrepreneur is someone who perceives an opportunity and creates an organisation to pursue it.
Use an interesting description or two like this and highlight it.
An Entrepreneur is a person who identifies and starts a business venture,
sources and organizes the required resources,
and takes both the risks and rewards
associated with the venture.
1974 Borland talked about entrepreneurs having Internal locus of control
1979 Kirzner talked of them as arbitrageurs – ability to spot opportunities
Select an ‘entrepreneur’ and analyse their entrepreneurial journey, from the conception of the initial idea through to start-up & ‘growth’.
A Chart to save word length on the Entrepreneur’s Journey.
(This is a rough draft; you can do it much better!)
Endogenous (Internal) factors for his success
Locus of Control
Internal locus of control – Individuals who believe themselves to be in control of their own destiny
External locus of control – People who believe that their lives are dominated by chance events outside their own control or powerful people i.e. “fate” controls their destiny.
Core and Desirable Attributes
Commitment & Determination
Tolerance of Risk
Ambiguity & Uncertainty
Creativity, Self-Reliance and Adaptability (Water Logic)
Motivation to Excel
Energy, Health, and Emotional Stability
Capacity to Inspire
Creativity & Innovativeness
THE NON-ENTREPRENEURIAL ATTRIBUTES
Knows it all
Entrepreneurs are at the Centre of so many activities; so they may be specialists in one area, but they have to be generalists.
HBDI Herrmann Brain Dominance Instrument
Most entrepreneurs seem more right-brained than left – though this is a generalization and most entrepreneurs have left brain characteristics as well.
Managerial v Entrepreneurial Mindset
Even in the Reasons For Starting A Business, there are exogenous factors
Entrepreneurs do one of these three (Endogenous) But these trends, problems and the gap is exogenous. If these had not existed, the business would not have been born.
Books to quote from
The right person at the right place at the right time
(See Serendipity PPT)
Serendipity is being the right person at the right place at the right time.
You can quote Malcolm Gladwell’s Outliers.
1956 – Bill Gates and all technology entrepreneurs born around this time.
LUCK(CALL IT SERENDIPITY)
Part 4(The secrets of Entrepreneurial success)
What makes entrepreneurs entrepreneurial? Saras D. Sarasvathy
Causal v Effectual Marketing Process
• Bird-in-hand principle:
Start with What you have – Who you are, What you know, & Whom you know (Not with the opportunity)
• Affordable loss principle:
Invest what you can afford to lose – extreme case $0
(Not expected return)
• Crazy Quilt principle:
Build a network of self-selected stakeholders
(Not competitive analysis)
• Lemonade principle:
Leverage contingencies and even failures
(Not avoid them)
• Pilot-in-the-plane principle:
If you can control the future, no need to predict it. The future comes from what people do (Not inevitable trends)
Effectual Logic that entrepreneurs employ, as different from others (Saras Sarasvathy)