Entrepreneurship Vs .... - 2

Entrepreneur & Entrepreneurship
Entrepreneur & Managers Entrepreneur & Intrapreneur Entrepreneur & Intraepreneur
Entrepreneur
An individual who, rather than working as an employee, runs a small business and assumes all the risk and reward of a given business venture, idea, or good or service offered for sale.
The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes.
What keeps most people from becoming entrepreneurs?

Funding
Manpower Strong backing Branding/Marketing Fear
Entrepreneur and Entrepreneurship are two sides of the same coin;

while an Entrepreneur is an individual who creates
and establishes a business,

entrepreneurship is the process adapted by an
entrepreneur to do so.
Entrepreneur and Entrepreneurship

Entrepreneur Refers to a person Visualizer Creator Organizer Innovator Technician Initiator Decision-maker Planner Leader Entrepreneurship Refers to a process Vision Creation Organisation Innovation Technology Initiative Decision Planning Leadership
Motivator
Programmer Risk taker Communication Administrator
Motivation
Action Risk taking Communication Administration
(Entrepreneur V/s Professional Managers)

Entrepreneur Perception of an Opportunity Risk-taking Tactical Planning Interpersonal Communication Negotiating Professional Managers Setting of Objectives Policy formulation Strategic Planning Formal Communication Organising
Trouble shooting
Making it a growing concern Innovator
Motivating
Controlling Administrator
Motivator
Determined and Idealist Commited Visionary Planner
Skilled, Knowledgeable
Confident and Specialist Loyal Planner Implementer
MANAGERS Vs ENTREPRENEUR
Managers
Primary Motives Want promotion and traditional corporate rewards. Powermotivated Respond to quotas and budgets,weekiy,monthly,quarterly.a nnual planning horizons, the next promtion or transfer. Delegate action. Supervising and reporting take most of energy. Professional training. Often business school trained. Abstract analytical tools,peoplemanagement,and political skills. Sees others in charge of his or her destiny. Can be forceful and ambitious, but may be fearful of others' ability in case of optimism.
Entrepreneur
Wants freedom, goaloriented self-reliant, and self-motivated. End goals of 5-10-year growth of business in view as guides. Takes action now to move the next step along way. Gets hands dirty. May upset employees by suddenly doing their work. Knows business intimately. More business acumen than managerial or political skill. Often technically Selfconfident,optimistic,courage ous.
Time Orientation
Action
Skills
Courage and Destiny
Attention Risk
Primarily on events inside corporation. Careful
Primarily on technology and market place. Like moderate risk.Invests.heavily,but expects to succeed.
Market Research
Has market studies done to discover needs and guide product conceptualisation.
Creates needs. Creates products that often cant yet understand them.Talkas to customers and forms own opinions.
Happy sitting on an orange crate if job is getting done.
Status
Cares about status symbols (corner office,ect.)
Failure and Mistakes
Strives to avoid mistakes and surpises.Postpones recognizing failure.

Please others. Sees system as nurturing and protective, seeks position within it.
Deals with mistakes and failures as learning experiences.

Please self and customers. May rapidly advance in a system, when frustrated, reject the system and form his or her own. Escapes problems in large in
Who they Serve Attitude Toward the system
Problem-solving Style
Works out problems within the system.
Family History
Family members worked for large organisations.
Entrepreneurial smallbusiness,professional,or agricultural background. Absent father or poor relations with father.
Relationship with Parents
Independent of mother, good relations with father, but slightly dependent. Middle-class background.
Socio-economic Background
Lower-class background in some early studies, middleclass in more recent ones. Less well educated in earlier studies, some graduate work but not Ph.D.in later ones. Transactions and deal making as basic relationship.
Educational Level
Highly educated.
Relationship with Others
Hierarchy as basic relationship.
History of Intrapreneurship
Word was coined in 1976 by Gifford and Elizabeth Pinchot
Based on their concept of an intra-corporate entrepreneur Began a school for intraprenuers in Sweden in 1985 The American Heritage Dictionary made the word
mainstream by adding it in 1992

I have found an example of Intrapreneurship dating back
centuries earlier
Intrapreneur
A person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk taking and innovation.
Intrapreneurs have entrepreneurial skills blended with managerial skills but operate within the confines of an organization.
Defined as
Intrapreneurs are dreamers who do, those who take hands-on responsibility for creating innovation of any kind within an organization.
Gifford Pinchot
The intrapreneur is not necessarily inventors of new products / services but are the persons who can turn ideas or prototypes into profitable realities. Dr. William Souder
Developing Intrapreneurial Culture

New Ideas Encouraged Trial & Error Encouraged , Failures Allowed No Opportunity Parameters , Volunteer
Program. Appropriate Reward System
Multidiscipline Teamwork Approach Top Management Support; Sponsors made available.
Implementing the Intrapreneurship Culture

Treat intrapreneurial teams as profit centers rather than as cost centers
Allow team members a variety of options in jobs, in innovation efforts, alliances, and exchanges Encourage employees to develop through training programs
Intrapreneurial Activity
services
Spotting ways to improve service Save time, money, or make life easier Visualizing variations of current products / Realizing new communication avenues with customers Enhancing the quality New ways to get the job done quicker or smarter
How does Business benefit?

Firms create competitive advantages by discovering new and better ways to compete in an industry and bringing them to market An enterprise that does not daily innovate inevitably ages and declines
Even in a successful business the disease of bureaucracy and complacency is dangerous
Intrapreneur Leadership Characteristics

Understand the Environment.
Visionary & Flexible Creates Management Option Encourages Teamwork & Open Discussion Builds Coalition of Supporters
Companies that get it

3M Post-It Notes Apple Ipod Google Orkut Google News
Positive differences between entrepreneur vs intrapreneur

Funding
company/organization often has capital to fund the
project
Manpower
intrapreneurs do not have to worry about finding the
talent to get tasks performed
Branding
intrapreneurs can use the branding of the
company/organization to get their ideas to take root
Do you know the difference between a intrapreneur and a intrepreneur?
Intrepreneur
One who sets up, maintains and assumes the financial risks of an Internet business venture not to be confused with intrapreneur or the more traditional entrepreneur.
They are the new breed of Internet Entrepreneurs.
Name some companies started by intrepreneurs?

Google
Yahoo MySpace
YouTube
Second Life LinkedIn
Facebook
eBay
Characteristics
Results driven
Ambitious Creative
Persistent
Influencing High Energy
Original
Self Confident Risk Tolerant
Action oriented
Interpersonal Innovative
Thank you!

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Entrepreneur & Entrepreneurship

Entrepreneur & Managers Entrepreneur & Intrapreneur Entrepreneur & Intraepreneur

What keeps most people from becoming entrepreneurs?

Entrepreneur and Entrepreneurship are two sides of the same coin;

and establishes a business,

Entrepreneur and Entrepreneurship

(Entrepreneur V/s Professional Managers)

Courage and Destiny

Primarily on events inside corporation. Careful

Cares about status symbols (corner office,ect.)

Failure and Mistakes

Strives to avoid mistakes and surpises.Postpones recognizing failure.

Deals with mistakes and failures as learning experiences.

Who they Serve Attitude Toward the system

Works out problems within the system.

Family members worked for large organisations.

Relationship with Parents

Relationship with Others

Hierarchy as basic relationship.

mainstream by adding it in 1992

Developing Intrapreneurial Culture

Program. Appropriate Reward System

Multidiscipline Teamwork Approach Top Management Support; Sponsors made available.

Implementing the Intrapreneurship Culture

How does Business benefit?

Intrapreneur Leadership Characteristics

Companies that get it

Positive differences between entrepreneur vs intrapreneur

talent to get tasks performed

company/organization to get their ideas to take root

Do you know the difference between a intrapreneur and a intrepreneur?

Name some companies started by intrepreneurs?

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