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Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
Ability to discover new opportunities
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
Entrepreneur
• “a person who makes money by starting or running businesses; especially when this involves taking financial risks”Oxford Wordpower – Oxford University Press, 2000
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
Key motivators
• Need for achievement
• Need to influence
• AutonomyProfessor Yvon Gasse – Laval University
Motivation factors determine behavior.
They are underlying reasons that induce someone to act.
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
Key aptitudes
• Perseverance• Self-assurance• Creativity• Tolerance for ambiguity• Attitude towards failure• Action-oriented
Aptitudes are natural inclinations, competencies, abilities.
Some of them predispose someone to be an entrepreneur
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
Key attitudes• Have passion for your business;
• Set an example of trustworthiness;
• Be flexible, except with core values;
• Don’t let fear of failure hold your back;
• Make timely decisions;
• The major company asset is you;
• Keep your ego under control;
• Believe
• Encourage and accept criticism graciously. Admit your mistakes;
• Maintain a strong work ethic;
• Rebound quickly from setbacks;
• Periodically get out of your comfort to pursue sth important (Bob Reiss – Bootstrapping strategies)
Attitudes are made up of perceptions, our feelings about sth.
They are judgments we make, ways we look at things.
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
NICHE• “an opportunity to sell a particular product to a particular
group of people” Oxford Wordpower – Oxford University Press, 2000
• quality, innovative products • possess a genuine regard for the well-being of their
employees• focus on meeting the needs of a smaller group of
customers without compromising their chance to increase the appeal to a broader market
http://www.entrepreneur.com/marketing/marketingideas/article203958.html
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
A situation of business opportunity
• The entrepreneur can develop an idea;
• The idea has a potential to generate profit
EXAMPLES:
- New technology - new products/services;
- New methods of production/new ways of organizing processes;
- New raw materials;
- Tapping new markets;
- Political and regulatory shifts;
- Social and demographic change.
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
OPPORTUNITY - QUALITIES
• ATTRACTIVE
• DURABLE
• TIMELY
• CREATES/ADDS VALUE FOR BUYER/USER
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
New opportunities
Recognizing new opportunities by analyzing TRENDS:• Political action• Changes in social factors• Key economic factors• Technology
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
POLITICAL ACTION
• New regulations: roads, assurance;
• Impact of the fight against terrorism: need of protection
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
CHANGES IN SOCIAL FACTORS
• Both parents working/ family and work patterns – style of eating: restaurants, fast-food, bio
• Busy people: digitalization of products• Increasing preoccupation for health: gym, spa, wellness
facilities• Aging of population• New forms of music and entertainment
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
Key economic factors
• Interest rates
• Income of consumers
• Labor market: women/men
• Globalization of industries
• The effects of crisis
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
Technology
• New services on mobile phones
• E-commerce
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
Solving a problem
Observe people’s challenges
Look for problems
Listen to people’s complaints
Think of your own challenges
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
Brainstorming• Process for generating CREATIVE IDEAS and
SOLUTIONS through intensive and freewheeling group discussion
• Every participant is encouraged to think aloud and suggest as many ideas as possible, no matter seemingly how outlandish or bizarre
• Analysis, discussion or criticism of aired ideas is allowed only when the brainstorming session is over and evaluation session begins
BusinessDictionary.com
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
SWOT analysis
• STRENGTHS
• WEKNESSES
• OPPORTUNITIES
• THREATS
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
SWOT analysis
• A useful tool for understanding and decision-making for all sorts of situations in business and organisations
Leonardo da Vinci Transfer of Innovation VITA - Virtual learning for the
management of successful SMEs in Europe Ref. nr. 2008-1-PT1-LEO05-00411
Online resourceshttp://businesstown.com/entrepreneur/article1.asp
http://smithfam.com/news/ma9.html
http://www.entrepreneur.com/startingabusiness/startupbasics/article84134.html
http://www.docstoc.com/docs/3570811/Entrepreneur-Questionnaire
http://www.toolkit.com/small_business_guide/sbg.aspx?nid=P01_0000
http://www.businesstown.com/businessopps/newbiz.asp
http://www.mindtools.com/index.html
http://humanext.com/index.html
http://leadership-international.org
http://mbatoolbox.org/stories/storyreader$26
http://www.articlesbase.com/business-opportunities-articles
http://www.articlesbase.com/business-ideas-articles