Entrepreneur as a Person

2-1

Entrepreneur as a PersonEntrepreneur as a Person

2-2

Entrepreneurial ProcessEntrepreneurial Process

1)1) Identify/Evaluate Opportunity Identify/Evaluate Opportunity

(Self Evaluation)(Self Evaluation)

2)2) Develop Business PlanDevelop Business Plan

3)3) Determine Resources RequiredDetermine Resources Required

4)4) Manage The EnterpriseManage The Enterprise

2-3

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

TYPES OF SKILLS REQUIRED IN ENTREPRENEURSHIP

Personal Personal Enterpreneurial SkillEnterpreneurial Skillss

Business plan & goal setting

Decision making Human Relations Marketing Accounting Management Control Negotiation Venture launch Managing growth

Business Business Management SkillManagement Skillss

2-4

Opportunity AnalysisOpportunity AnalysisPersonal Observation (CB 1 / Self Personal Observation (CB 1 / Self Relation)Relation)Market Need?Market Need?Underlying Social ConditionsUnderlying Social ConditionsMarket Research DataMarket Research DataAssess Competition- Patents?Assess Competition- Patents?Where Money To Be MadeWhere Money To Be Made

2-5

Decision MakingDecision MakingManager vs. EntrepreneurManager vs. Entrepreneur

Domain- Administrative vs. Domain- Administrative vs. EntrepreneurialEntrepreneurialStrategic OrientationStrategic OrientationCommitment to OpportunityCommitment to OpportunityCommitment of ResourcesCommitment of ResourcesControl of ResourcesControl of ResourcesManagement StructureManagement Structure

2-6

0 1 2 3 4 5 67

1. I have the ability to communicate - - - - - - --

2. I have the ability motivate others - - - - - - --

3. I have the ability to organize - - - - - - --

4. I can accept responsibility - - - - - - --

5. I can easily adapt to change - - - - - - --

6. I have decision making capability - - - - - - --

7. I have drive and energy - - - - - - --

8. I am in good health - - - - - - --

9. I have good human relations skill - - - - - - --

10. I have initiative - - - - - - --

11. I am interested in people - - - - - - --

12. I have good judgment - - - - - - --

13. I am open minded and receptive to new ideas - - - - - - --

14. I have planning ability - - - - - - --

15. I am persistent - - - - - - --

16. I am resourceful - - - - - - --

17. I am self confident - - - - - - --

18. I am self starter - - - - - - --

19. I am a good listener - - - - - - --

20. I am willing to be a risk taker - - - - - - --

Total Score - - - - - - --

TEST YOUR POTENTIAL AS AN ENTREPRENEUR

2-7

““Intrapreneurship”Intrapreneurship”Instilling Instilling

Entrepreneurial Entrepreneurial Spirit Within An Spirit Within An

Existing Existing Organization To Organization To

Innovate And Grow.Innovate And Grow.

2-8

Organizational CultureOrganizational CultureCorporateCorporate

Climate/Reward Climate/Reward System Favors System Favors ConservatismConservatism

Follow Instructions, Follow Instructions, No InitiativeNo Initiative

Hierarchy Of Hierarchy Of AuthorityAuthority

IntrapreneurialIntrapreneurial Develop Vision, Develop Vision,

Goals, & PlansGoals, & Plans Suggest, Try, Suggest, Try,

ExperimentExperiment Flat Organizational Flat Organizational

Structure- Structure- Networking & Networking & TeamworkTeamwork

2-9

Cultural Norms/ValuesCultural Norms/ValuesCorporateCorporate IntrapreneurialIntrapreneurialFragmentedFragmented WholeWholeInstructionInstruction VisionVisionControlledControlled In ControlIn Control

Outer-DirectedOuter-Directed Inner-DirectedInner-DirectedAlienationAlienation ResponsibilityResponsibility““Chores”Chores” Enthusiasm/MotivationEnthusiasm/Motivation

Defined LimitsDefined Limits Space/FreedomSpace/FreedomInterferenceInterference TrustTrust

DistrustDistrust Belief In PeopleBelief In PeopleExpendableExpendable ExpandableExpandable

Limiting PeopleLimiting People Growing PeopleGrowing People

2-10

Interest In IntrapreneurshipInterest In IntrapreneurshipRising Interest in “Doing Your Rising Interest in “Doing Your Own Thing”Own Thing”CorporationCorporation– Support To Retain Creative Support To Retain Creative

EmployeesEmployees– Fund StartupsFund StartupsHypercompetitionHypercompetitionCorporate vs. Intrapreneurial Corporate vs. Intrapreneurial CultureCulture

2-11

Intrapreneurial ActivitiesIntrapreneurial Activities

New Business VenturingNew Business VenturingInnovationInnovationSelf-RenewalSelf-RenewalProactiveProactive

2-12

Climate for Climate for IntrapreneurshipIntrapreneurship

• TechnologyTechnology• New Ideas EncouragedNew Ideas Encouraged• Trial/Error EncouragedTrial/Error Encouraged• Failure AllowedFailure Allowed• No Opportunity No Opportunity

ParametersParameters• Resources Available & Resources Available &

AccessibleAccessible

• Multidiscipline TeamsMultidiscipline Teams• Long Time HorizonLong Time Horizon• Volunteer ProgramVolunteer Program• Appropriate Reward Appropriate Reward

SystemSystem• Sponsors/Champions Sponsors/Champions

AvailableAvailable• Support of Top Support of Top

ManagementManagement

2-13

Intrapreneurial LeadersIntrapreneurial LeadersUnderstand EnvironmentUnderstand EnvironmentHave Vision/FlexibilityHave Vision/FlexibilityCreate Management OptionsCreate Management OptionsEncourage TeamworkEncourage TeamworkEncourage Open DiscussionEncourage Open DiscussionBuild CoalitionsBuild CoalitionsPersistPersist

2-14

Establishing IntrapreneurshipEstablishing Intrapreneurship

Commitment of Top ManagementCommitment of Top ManagementIdentify Ideas/Areas Interested In Identify Ideas/Areas Interested In SupportingSupportingUse Technology For FlexibilityUse Technology For FlexibilityManagers Share/Train EmployeesManagers Share/Train EmployeesGet Closer to CustomersGet Closer to CustomersBe More Productive With LessBe More Productive With Less

2-15

Evaluating Evaluating Intrapreneurship ProposalsIntrapreneurship Proposals

Corporate FitCorporate Fit Initial InvestmentInitial InvestmentExperienced Experienced

Venture Venture ChampionChampion

Experience With Experience With Product/ServiceProduct/Service

Competitive Competitive ThreatThreat

Proprietary Proprietary TechnologyTechnology

Gross MarginGross MarginRate Of ReturnRate Of Return

2-16

Barriers ToBarriers To Intrapreneurship Intrapreneurship

Inherent Nature of Large OrganizationsInherent Nature of Large OrganizationsNo Long-Term CommitmentNo Long-Term CommitmentLack Of Autonomy For Decision MakingLack Of Autonomy For Decision MakingLack of Intrapreneurial TalentLack of Intrapreneurial TalentInappropriate Compensation MethodsInappropriate Compensation MethodsConstrained EnvironmentConstrained Environment