21st Century Trends In Entrepreneurship – © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or reproduced, in whole or in part, except for use permitted in a license distributed with a specific product or service or otherwise for classroom use on a password-protected website.

2 Chapter Objectives To examine the historical development of entrepreneurship To explore and debunk myths about entrepreneurship To describe the major schools of business thought and to explore them To explain the process To describe methods for studying entrepreneurship. The revolution is happening today to define today’s business environment © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or reproduced, in whole or in part, except for use permitted in a license distributed with a specific product or service or otherwise for classroom use on a password-protected website.

21st Century Trends In Entrepreneurship

Identify opportunities where others see chaos or confusion Be aggressive catalysts for change in the marketplace Challenge the unknown and continuously create the future © 2014 Cengage Learning. All rights reserved. May not be copied, scanned or reproduced, in whole or in part, except for use permitted under license distributed with the specific product or service or otherwise for classroom use on a password-protected website.

Global Trends In Female Entrepreneurship

Small business owners manage their businesses and expect stable sales, profits and growth Entrepreneurs focus their efforts on innovation, profitability and sustainable growth © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or reproduced, in whole or in part, except for use permitted under license distributed with the specific product or service or otherwise for classroom use on a password-protected website.

Entrepreneurship is more than just the creation of a business: finding opportunities, taking risks beyond certainty, gaining the maturity to bring an idea to reality. © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or reproduced, in whole or in part, except for use permitted under license distributed with the specific product or service or otherwise for classroom use on a password-protected website.

Entrepreneur comes from the French entreprendre, which means “to begin”. The entrepreneur is the one who organizes, manages and assumes the risks of the business. Although there is no single definition of entrepreneurship and no single profile can represent all of today’s entrepreneurs, research is increasingly focusing on the topic. © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or reproduced, in whole or in part, except for use permitted under license distributed with the specific product or service or otherwise for classroom use on a password-protected website.

Pdf) Entrepreneurship Education And Research: Emerging Trends And Concerns

Entrepreneurship (Robert C. Ronstadt) The dynamic process of creating incremental wealth. This wealth is created by people who take significant risks of equity, time and/or career commitment to provide value for a product or service. The product or service itself may be new or unique but the entrepreneur must create value by securing and allocating the necessary skills and resources. © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or reproduced, in whole or in part, except for use permitted under license distributed with the specific product or service or otherwise for classroom use on a password-protected website.

Entrepreneurship is a dynamic process of vision, change and creativity. The creation and implementation of new ideas and creative solutions requires the application of energy and passion. Key ingredients include: Willingness to take responsibility – in terms of time, equity or career. Ability to build an effective project team; Resources needed to gather creative skills. Basic skills to create a solid business plan. Dream of acknowledging moments where others see chaos, contradictions and confusion. © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or reproduced, in whole or in part, except for use permitted in a license distributed with a specific product or service or otherwise for classroom use on a password-protected website.

Myth 1: Entrepreneurs are doers, not thinkers Myth 2: Entrepreneurs are born, not made Myth 3: Entrepreneurs are always inventors Myth 4: Entrepreneurs are academic and social misconceptions 5: Entrepreneurs must fit: My profile is complete Myth 7: All entrepreneurs need happiness Myth 8: Business is disorganized and chaotic Myth 9: Most business startups fail Myth 10: Entrepreneurs take extreme risks © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or reproduced, in whole or in part, except for use permitted in a license distributed with a specific product or service or otherwise for classroom use on a password-protected website.

Pdf) Entrepreneurship And Education In The 21st Century: Analysis And Trends In Research

An entrepreneur who creates a business that works without him. A manager who creates results through employees develops and implements effective systems and, by interacting with employees, increases their confidence and ability to produce good results. Technicians who perform specific tasks are developed according to systems and quality management. © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or reproduced, in whole or in part, except for use permitted in a license distributed with a specific product or service or otherwise for classroom use on a password-protected website.

Table © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or reproduced, in whole or in part, except for use permitted in a license distributed with a specific product or service or otherwise for classroom use on a password-protected website.

The School of Environment considers the external factors that affect the lifestyle of a potential entrepreneur. A school of finance/capitalism based on the process of seeking capital – the search for seed and growth capital. Displacement School of Thought Alienation drives business Political displacement (laws, policies, and regulations) Cultural displacement (social group preference) Economic displacement (economic changes) © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or reproduced, in whole or in part, except for use permitted in a license distributed with a specific product or service or otherwise for classroom use on a password-protected website.

Eight Types Of “baby Boomer” Entrepreneurs

Financial Considerations in the Risk Phase Decision to start or acquire seed capital sources of capital Continue or exit ongoing investments in cash management Financial analysis and evaluation Sustain, expand or downsize or succession Profitability issue of business purchase Success issues Sale, retirement or liquidation of operations Ceng2014 Ceng2014 Learning. All rights reserved. May not be copied, scanned, or reproduced, in whole or in part, except for use permitted in a license distributed with a specific product or service or otherwise for classroom use on a password-protected website.

The Entrepreneurial Trait School of Thought focuses on identifying traits common to successful entrepreneurs. Achievement, Creativity, Commitment, and Technical Knowledge The Venture Opportunity School of Thought focuses on the opportunity aspect of venture development—the search for sources of ideas, development of concepts, and implementation of venture opportunities. Corridor Principle: New paths or opportunities will emerge that lead entrepreneurs in different directions. © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or reproduced, in whole or in part, except for use permitted under license distributed with the specific product or service or otherwise for classroom use on a password-protected website.

Emphasize the planning process in successful project development. Strategic Formulation Takes Advantage of Unique Factors: Unique Markets – Mount Differentiation Strategies Unique People – Great Chef Strategies Unique Products – Improved Widget Strategies Unique Resources – Drain Strategies © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or reproduced, in whole or in part, except for use permitted under license distributed with the specific product or service or otherwise for classroom use on a password-protected website.

Launch Of The Cre / Um Global Real Estate Leaders Program

An integrated approach is built around the concepts of input to the entrepreneurial process and the results of the entrepreneurial process. Focuses on the business process itself and identifies five key elements that contribute to the process. Provides a comprehensive picture of the nature of the business that can be applied at different levels. © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or reproduced, in whole or in part, except for use permitted under license distributed with the specific product or service or otherwise for classroom use on a password-protected website.

Source: Michael H. Morris, p. Lewis and Donald L. Sexton, “Reviving Entrepreneurship: An Input-Output Perspective,” SAM Advanced Management Journal 59, no. 1 (Winter 1994): 21-31. © 2014 Cengage Learning. All rights reserved. May not be copied, scanned, or reproduced, in whole or in part, except for use permitted under license distributed with the specific product or service or otherwise for classroom use on a password-protected website.

Dynamic state approach Emphasizes commitment to the environment and collaboration between the company: The company’s dominant logic The business model Value creation © 2014 Cengage Learning. All rights reserved. May not be copied, scanned or reproduced, in whole or in part, except as permitted under license.

Entrepreneurial Marketing: A Bibliometric Analysis Of The Second Decade Of The 21st Century And Future Agenda

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