PowerPoint PresentationMcGraw-Hill/Irwin
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The Founder - Is at the Heart of the Entrepreneurial Process and is the:
Seeker
Creator
Initiator
With
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Fueling entrepreneurial mind-sets
Improving the flow of finance
Creating a more entrepreneurial-friendly regulatory and administrative framework
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Entrepreneurship is the new management paradigm for thinking and reasoning.
Entrepreneurship has spawned a new education paradigm for learning and teaching.
Entrepreneurship is becoming a dominant management model for running nonprofit businesses and social ventures.
Entrepreneurship is transcending business schools.
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Entrepreneurship is an important political phenomenon.
The linkage between entrepreneurship and public policy is increasingly important.
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Landmark Research findings by David Birch of MIT
New firms created 81.5 percent of the net new jobs from 1969 to 1976.
According to the U.S. Small Business Administration’s Office of Advocacy, in 2004 small firm with fewer than 500 employees represented 99.9 percent of the 26.8 million businesses in the United States.
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Is opportunity-centered and rewards talent and performance
Entrepreneurship is not about religion, gender, skin color, social class, or national origin
Women and a number of ethnic and racial groups are excelling at entrepreneurship
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Entrepreneurship is more appealing than ever to:
High school seniors
Their parents
47% of women and 38 % of men in a 2004 national sample by USA Today
Laid-off corporate managers
Challenge
Pride
Remuneration ($)
Invigorating
Energizing
Meaningful
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Consider Popular Examples of Mega-Entrepreneurs Who Started in Their 20s
Microsoft—Bill Gates and Paul Allen
Dell Computers—Michael Dell
Federal Express—Fred Smith
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E-Generation (1 of 3)
E-Generation (2 of 3)
Cellular phone services
E-Generation (3 of 3)
Biofuels and biomaterials
Credited with 95 percent of all radical innovation
Led to the creation of major new inventions and technologies
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At very early stages of development
To shape and accelerate the development of the company
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Moderately wealthy to very wealthy individuals
Successful entrepreneurs themselves
Serve as coach, confidant, mentor and cheerleader
This pool of talent, know-how, and money continues to play an enormously important role in cultivating and accelerating e-generation capabilities
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community
New buildings, classrooms, athletic facilities, and endowed professorships
The largest gifts and the greatest proportion of donors to college capital campaigns
Local churches, hospitals, museums, orchestras, and schools
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Ewing Marion Kauffman of Marion Laboratories, Inc.:
“Live what you talk, make your actions match your words. You must live what you preach and do it right and do it often. Day after day.”
“As an entrepreneur, you really need to develop a code of ethics, a code of relationships with your people, because it’s the people who come and join you. They have dreams of their own. You have your dream of the company. They must mesh somewhat.”
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universities, and community colleges
Universities are investing in entrepreneurship education and research capacity
Over 44 academic journals focusing on entrepreneurship
Some 200 entrepreneurial centers as well as endowed professorship exist
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William D. Danko
Millionaire—a person with a net worth of $1 million or more
Traits of these millionaires
57 years old
Long-term perspective
Venture capital industry has followed overall economics – weathering downturns and leading recovery
The U.S. investment and capital markets have been an integral part of this revolution in entrepreneurship
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Adam: The Union Path
Helena: The Corporate Ladder
Lanice: The Enterprising Route
Entrepreneurial society for the 21st century and beyond is the highest priority for the new and global e-generation
Equal opportunities (not equal incomes) are created
Economic and social mobility increases
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in 1975 in 1991
5th (highest) .9% 2.8% 10.2% 23.6% 62.5%
4th 1.9 9.3 18.8 32.6 37.4
3rd (middle) 3.3 19.3 28.3 30.1 19.0
2nd 4.2 23.5 20.3 25.2 26.8
1st (lowest) 5.1 14.6 21.0 30.0 29.0
EExhibit 1.8: Moving Up
Income Quintile in 1975
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3rd
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5th