ENACTUS O6U

THE HEART OF

ENTREPRENEURSHIP(1)

=CREATIVITY + IMPLEMENTATION

IN ORDER FOR INNOVATION TO BE WELCOMED INTO THE

MARKETPLACE, THEY MUST FIRST BE SCREENED FOR

CONSTRAINS AND FEASIBILITY.

SALES/PROFIT POTENTIAL

How easily a new innovation can enter a market and produce profitable sales.

GROWTH POTENTIAL

The potential growth of the market need and the relative degree to which it is being served

COMPETITOR REACTIVITY

This factor can be measured in 3 ways:

1) the ability of a dominant competitor to quickly respond to a new entrant.

2) the degree of IP (in-progress) protection of the innovation idea.

3) the rate at which competitive solutions reduce the product life cycle of new innovation.

RISK DISTRIBUTION

INDUSTRY RESTRUCTURE POTENTIAL

POLITICAL/SOCIAL CONSTRAINTS

CAPITAL AVAILABILITY

MANUFACTURING COMPETENCY

MARKETING AND DISTRIBUTION CHANNELS

TECHNICAL SUPPORT CAPABILITY

How well service function supports sales with expertise to carry out incremental

improvements.

ACCESS TO CRITICAL COMPONENTS

LEVEL OF MANAGEMENT SUPPORTMeasure of top management support for internal

entrepreneurial initiatives.

A method of analysis that associates a numeric value between 1 and 4 regarding the spectrums of product development

and the entrepreneur and management team.

For example, the most desirable "4/4" rating represents a fully developed product with an established market that is supported by a fully staffed

and experienced management team.

THE HEART OF

ENTREPRENEURSHIP(2)

ENTREPRENEURSHIP ?

ABILITY - TO - PLAN

COMMUNICATION SKILLS

MARKETING SKILLS

INTERPERSONAL SKILLS

BASIC MANAGEMENT SKILLS

LEADERSHIP SKILLS

ENTREPRENEURSHIP

Rather than admiring the small percentage of businesses that grow to become successful, study those that end up failing.

This research will greatly increase your chances of success, since most companies have made common mistakes that have led to their demise.

Because entrepreneurship entails so much hard work, it is critical to ensure you're following the right path.

If this is something you really want, then think long-term, and be persistent.

The vast majority of great entrepreneurs failed multiple times before they finally found the business idea that took off and brought them success.

Entrepreneurs should always be in search of problems to solve and not the other way around.

In other words, they should not start with a solution looking for a problem.

To be successful, you should find your passion and then build a business around that.

Passion is what will get you through the stumbling blocks and prevent you from quitting in the middle of the race.

HOW CAN I MAKE INNOVATION, FLEXIBILITY, AND CREATIVITY OPERATIONAL?

TO HELP THIS PERSON DISCOVER SOME ANSWERS, WE MUST FIRST LOOK AT ENTREPRENEURIAL BEHAVIOR.

(WHICH WILL BE DISCUSSED LATER)

THE HEART OF

ENTREPRENEURSHIP(3)

HOW CAN I MAKE INNOVATION, FLEXIBILITY, AND CREATIVITY OPERATIONAL?

At the outset we should discard the notion that entrepreneurship is an all-or-none trait that some people or organizations possess and others don’t.

Rather, we suggest viewing entrepreneurship in the context of a range of behavior.

To simplify our analysis, it is useful to view managerial behavior in terms of extremes.

At one extreme is what we might call:

The promoter type

Manager - who feels confident of his or her ability to seize opportunity.

This manager expects surprises and expects not only to adjust to change but also to capitalize on it and make

things happen.

At the other extreme is

The trustee type

who feels threatened by change and the unknown and whose inclination is to rely on the status quo.

To the trustee type, predictability fosters effective management of existing resources while

unpredictability endangers them.

Most people, of course, fall somewhere between the extremes.

But it’s safe to say that as managers move closer to the promoter end of the scale they become more

entrepreneurial, and as they move toward the trustee end of the scale they become less so (or,

perhaps, more administrative)

BETWEEN

OPPORTUNITY

AND

INDIVIDUAL - NEEDS

1) It must represent a desirable future state, involving growth or at least change.

2) the individual must believe it is possible to reach that state.

IN MAKING DECISIONS, ADMINISTRATORS AND ENTREPRENEURS OFTEN PROCEED WITH A VERY

DIFFERENT ORDER OF QUESTIONS …

THE TYPICAL ADMINISTRATROR ASKS:

WHAT RESOURCES DO I CONTROL ?

WHAT STRUCTURE DETERMINES OUR ORGANIZATION’S RELATIONSHIP TP ITS MARKET ?

HOW CAN I MINIMIZE THE IMPACT OF OTHERS ON MY ABILITY TO PERFORM ?

WHAT OPPORTUNITY IS APPROPRIATE ?

THE ENTREPRENEUR, AT THE OTHER END OF THE SPECTRUM, TENDS TO ASK:

WHERE IS THE OPPORTUNITY ?

HOW DO I CAPITALIZE ON IT ?

WHAT RESOURCES DO I NEED ?

HOW DO I GAIN CONTROL OVER THEM ?

WHAT STRUCTURE IS BEST ?

THE EXTERNAL PRESSURES STIMULATE OPPORTUNITY RECOGNITION :

RAPID –CHANGES – IN

TECHNOLOGY

THE EXTERNAL PRESSURES STIMULATE OPPORTUNITY RECOGNITION :

RAPID –CHANGES – IN

CONSUMER ECONOMICS

THE EXTERNAL PRESSURES STIMULATE OPPORTUNITY RECOGNITION :

RAPID –CHANGES – IN

SOCIAL VALUES

THE EXTERNAL PRESSURES STIMULATE OPPORTUNITY RECOGNITION :

RAPID –CHANGES – IN

POLITICAL ACTIONSAND

REGULATORY STANDARDS