Upload File

entrepreneurship in the twenty-first century

24
Entrepreneurship in Entrepreneurship in the the Twenty-First Century Twenty-First Century 1 - 1 - The The Entrepreneurial Entrepreneurial Revolution Revolution 2 - 2 - Entrepreneurship: An Entrepreneurship: An Evolving Evolving Concept Concept 3 - 3 - Intrapreneurship: Intrapreneurship:

Upload: viprashukla

Post on 18-Nov-2014

298 views

Category:

Documents


1 download

Report

TRANSCRIPT

Page 1: Entrepreneurship in the Twenty-First Century

Entrepreneurship in the Entrepreneurship in the Twenty-First CenturyTwenty-First Century

1 - 1 - The EntrepreneurialThe Entrepreneurial RevolutionRevolution2 - 2 - Entrepreneurship: AnEntrepreneurship: An Evolving ConceptEvolving Concept3 - 3 - Intrapreneurship:Intrapreneurship: Developing CorporateDeveloping Corporate EntrepreneurshipEntrepreneurship

Page 2: Entrepreneurship in the Twenty-First Century

1 – The Entrepreneurial Revolution1 – The Entrepreneurial Revolution

Page 3: Entrepreneurship in the Twenty-First Century

EntrepreneursEntrepreneursChallenging The UnknownChallenging The Unknown

Page 4: Entrepreneurship in the Twenty-First Century

Entrepreneurship:Entrepreneurship:A PerspectiveA Perspective

Page 5: Entrepreneurship in the Twenty-First Century

Our Entrepreneurial Our Entrepreneurial EconomyEconomy

The Environment for The Environment for EntrepreneurshipEntrepreneurship

Page 6: Entrepreneurship in the Twenty-First Century

Predominance of New Ventures Predominance of New Ventures in the Indian Economyin the Indian Economy

• 80% of Indian firms are SMEs80% of Indian firms are SMEs• The SME sector accounts for 50 per cent of the exports and is the The SME sector accounts for 50 per cent of the exports and is the

second largest employment provider, next to agriculturesecond largest employment provider, next to agriculture• An estimated 13 million SMEs in India today An estimated 13 million SMEs in India today • Employ 30 million people Employ 30 million people • Create 1 Million jobs per annum Create 1 Million jobs per annum • Contribute 34% of Export Contribute 34% of Export • Contribute 40% of Industrial Output Contribute 40% of Industrial Output • Grow much faster @ 12% than average industrial growth of 8%Grow much faster @ 12% than average industrial growth of 8%• SME's contribution to national GDP is projected to go up to 22% SME's contribution to national GDP is projected to go up to 22%

share of India's GDP by 2012 (from current share of 17%)share of India's GDP by 2012 (from current share of 17%)

Page 7: Entrepreneurship in the Twenty-First Century

Entrepreneurial Firms’ ImpactEntrepreneurial Firms’ Impact

Entrepreneurial firms make two indispensable Entrepreneurial firms make two indispensable contributions to the Indian economy:contributions to the Indian economy:

– First, they are an integral part of the First, they are an integral part of the renewal process that pervades and defines renewal process that pervades and defines market economies.market economies.

– Second, they are the essential mechanism Second, they are the essential mechanism by which millions partake in and co-create by which millions partake in and co-create the Indian growth story.the Indian growth story.

Page 8: Entrepreneurship in the Twenty-First Century

Trends in Research and EducationTrends in Research and Education

1.1. The entrepreneurial and managerial The entrepreneurial and managerial domains are not mutually exclusive but domains are not mutually exclusive but overlap to a certain extent.overlap to a certain extent.

2.2. Venture financing, including both venture Venture financing, including both venture capital and angel capital financing as well capital and angel capital financing as well as other innovative financing techniques, as other innovative financing techniques, emerged in the 1990s with unprecedented emerged in the 1990s with unprecedented strength.strength.

Page 9: Entrepreneurship in the Twenty-First Century

Trends in Research and EducationTrends in Research and Education

3.3. Intrapreneurship (that is, entrepreneurship Intrapreneurship (that is, entrepreneurship within large organizations) and the need for within large organizations) and the need for entrepreneurial cultures have gained much entrepreneurial cultures have gained much attention during the past few years.attention during the past few years.

4.4. Entrepreneurial entry strategies have been Entrepreneurial entry strategies have been identified that show some important identified that show some important common denominators, issues, and trade-common denominators, issues, and trade-offs.offs.

Page 10: Entrepreneurship in the Twenty-First Century

Trends in Research and EducationTrends in Research and Education

5.5. More research on the psychological aspects More research on the psychological aspects has emerged.has emerged.

6.6. The risks and trade-offs of an The risks and trade-offs of an entrepreneurial career have been subject of entrepreneurial career have been subject of keen research interest.keen research interest.

7.7. Women and minority entrepreneurs have Women and minority entrepreneurs have emerged in unprecedented numbers.emerged in unprecedented numbers.

8.8. The entrepreneurial spirit is universal.The entrepreneurial spirit is universal.

Page 11: Entrepreneurship in the Twenty-First Century

Trends in Research and EducationTrends in Research and Education

9.9. The economic and social contributions of The economic and social contributions of entrepreneurs have been shown to make entrepreneurs have been shown to make immensely disproportionate contributions.immensely disproportionate contributions.

10.10. Entrepreneurial education has become one Entrepreneurial education has become one of the hottest topics at business and of the hottest topics at business and engineering schools.engineering schools.

Page 12: Entrepreneurship in the Twenty-First Century

The Age of GazellesThe Age of Gazelles

• A “gazelle” is a business A “gazelle” is a business establishment with at least 20% establishment with at least 20% sales growth every year (for five sales growth every year (for five years), starting with a base of at least years), starting with a base of at least $100,000.$100,000.

Page 13: Entrepreneurship in the Twenty-First Century

Gazelles - MythsGazelles - Myths

• Gazelles are all in high techGazelles are all in high tech

• Gazelles get venture capitalGazelles get venture capital

• Gazelles are all youngGazelles are all young

• Gazelles are all smallGazelles are all small

• Gazelles operate in international marketsGazelles operate in international markets

Page 14: Entrepreneurship in the Twenty-First Century

Gazelles - InnovationGazelles - Innovation

• Gazelles are leaders in innovation.Gazelles are leaders in innovation.

• Gazelles produce twice as many product Gazelles produce twice as many product innovations per employee as larger firms.innovations per employee as larger firms.

• Studies conducted by US Dept. of Commerce, Studies conducted by US Dept. of Commerce, revealed that since World War II, 50% of all revealed that since World War II, 50% of all innovations and 95% of radical innovations, have innovations and 95% of radical innovations, have come from new and smaller firms come from new and smaller firms

Page 15: Entrepreneurship in the Twenty-First Century

Gazelles - SurvivalGazelles - Survival

• The common myth is that 85% of all The common myth is that 85% of all firms fail in the first year.firms fail in the first year.

• The more accurate statement is that The more accurate statement is that about half of all start-ups last about half of all start-ups last between 5 and 7 years.between 5 and 7 years.

Page 16: Entrepreneurship in the Twenty-First Century

Emerging Trends: Internet and Emerging Trends: Internet and E-CommerceE-Commerce

• Small and medium businesses (1-999 employees) in Small and medium businesses (1-999 employees) in India invested US $1.2 billion to boost their overall India invested US $1.2 billion to boost their overall internet infrastructure and solutions in 2007-08, a rise internet infrastructure and solutions in 2007-08, a rise of 33% yoy.of 33% yoy.

• Smaller ventures use the Internet for a variety of Smaller ventures use the Internet for a variety of operations, including customer-based identification, operations, including customer-based identification, advertising, consumer sales, business-to-business advertising, consumer sales, business-to-business transactions, e-mail, and private internal networks for transactions, e-mail, and private internal networks for employees.employees.

• Total SMB IT spending for 2007-08:Total SMB IT spending for 2007-08:US$8 billion (up by 24% yoy)US$8 billion (up by 24% yoy)

Page 17: Entrepreneurship in the Twenty-First Century

The E-Commerce ChallengeThe E-Commerce Challenge

• Electronic commerce (e-commerce)- Electronic commerce (e-commerce)- the marketing, promoting, buying, the marketing, promoting, buying, and selling of goods and services and selling of goods and services electronically, particularly via the electronically, particularly via the Internet- is the new wave in Internet- is the new wave in transacting business.transacting business.

Page 18: Entrepreneurship in the Twenty-First Century

Advantages and Challenges of E-Advantages and Challenges of E-Commerce for Entrepreneurial FirmsCommerce for Entrepreneurial Firms

Advantages:Advantages:• Ability of small firms to compete with other Ability of small firms to compete with other

companies both locally and nationally.companies both locally and nationally.• Convenient and easy way of doing business Convenient and easy way of doing business

transactions.transactions.Challenges:Challenges:• Avoiding being a victim of fraudulent Avoiding being a victim of fraudulent

activities online.activities online.• Handling the costs required to maintain Handling the costs required to maintain

the site.the site.

Page 19: Entrepreneurship in the Twenty-First Century

Developing a Web SiteDeveloping a Web Site

• Attractive and UsefulAttractive and Useful

• Marketing the WebsiteMarketing the Website

• ““Stickiness”Stickiness”

Page 20: Entrepreneurship in the Twenty-First Century

Use of Internet SitesUse of Internet Sites

• Company InformationCompany Information

• Corporate image buildingCorporate image building

• Product informationProduct information

• AdvertisingAdvertising

• MarketingMarketing

• Customer communicationsCustomer communications

93%93%

89%89%

80%80%

78%78%

77%77%

76%76%

Page 21: Entrepreneurship in the Twenty-First Century

Most Important Factors for Most Important Factors for Customers to do Business OnlineCustomers to do Business OnlineUser-friendly and easy to navigateUser-friendly and easy to navigate

Good previous experiencesGood previous experiences

Fast response timeFast response time

Relevant and updated contentRelevant and updated content

Bargain pricesBargain prices

54%54%

36%36%

36%36%

27%27%

15%15%

Page 22: Entrepreneurship in the Twenty-First Century

Emerging E-Commerce StrategiesEmerging E-Commerce Strategies

3-P Growth Model3-P Growth Model1.1. PresencePresence

2.2. PenetrationPenetration

3.3. ProfitabilityProfitability

Page 23: Entrepreneurship in the Twenty-First Century

Emerging E-Commerce StrategiesEmerging E-Commerce Strategies

Another StrategyAnother Strategy– ReachReach

– RichnessRichness

– AffiliationAffiliation

Page 24: Entrepreneurship in the Twenty-First Century

Entrepreneurial OpportunitiesEntrepreneurial Opportunities

• GlobalisationGlobalisation

• InternetInternet

• High Growth RateHigh Growth Rate

• Large low-cost, high-skill labor forceLarge low-cost, high-skill labor force

• Low regulations post liberalisationLow regulations post liberalisation

• New sources of CapitalNew sources of Capital


Twenty-First Century Psychotherapies

Twenty-First Century Society

The ATlAnTic cenTury ii - ITIF · The ATlAnTic cenTury ii ... competitiveness, and globalization that the twenty-first century demands. ... ENTREPRENEURShIP

Metrics for a Successful Twenty-First Century … whitepaper 2012 final...Successful Twenty-First Century Academic Corporate Relations Program W ... Twenty-First Century University

TWENTY FIRST CENTURY SCIENCE SUITE EXEMPLAR CANDIDATE WORK · TWENTY FIRST CENTURY SCIENCE SUITE EXEMPLAR CANDIDATE WORK ... Century Science, ... • teacher training in interpretation

Unleashing Small Business Through IP - SBE Counciland+Entrepreneurship+FINAL.pdf · Small Business & Entrepreneurship Council . ... ” In the twenty-first century, ... Unleashing

twenty first Beuth century

Aesthetics into the Twenty-first Century

Keynes for the Twenty-First Century

Peacemaking in the Twenty Century

Twenty first century language learning series

TWENTY-FIRST CENTURY COMMUNICATIONS AND VIDEO

United Nations in Twenty-First Century

Twenty-First Amendment in the Twenty-First Century ......The Twenty-First Amendment in the Twenty-First Century: Reconsidering State Liquor Controls in Light of Granholm v. Heald ELIZABETH

Governance in the Twenty-first Century

TWENTY FIRST CENTURY SCIENCE BIOLOGY B - OCRocr.org.uk/...twenty-first-century-science-suite-biology-b-j257.pdf · ocr.org.uk/gcsec21biology. GCSE (9 – 1) Specification. TWENTY

Twenty-First-Century Aerial Mining

Examiners’ report TWENTY FIRST CENTURY SCIENCE …

Twenty-First-Century Multimodel Subtropical Precipitation

Marketing in the Twenty-first Century

Regulation, Innovation, & Entrepreneurship · Brownsword , R., & Goodwin, M. (2012). Law and the Technologies of the Twenty-First Century ... on entrepreneurship; ... the Twenty-First

Twenty – One Church Planting Designs/Models for the Twenty-First Century

Karachi in the Twenty- First Century

Lima, Peru 13-16 October 2014 Twenty-first century ... · 13-16 October 2014 Twenty-first century challenges for the ... Twenty-first century challenges for the Americas: ... Business

Twenty+First+Century+Leaders WORD

21st Century Entrepreneurship

organized-change-consultancy.wikispaces.com · Entrepreneurship: Exploring Different Perspectives of an Emerging Concept ... The twenty-first century business atmosphere can be characterized

QCD in Twenty-One Century

Buddha for Twenty-First Century

Twenty First Century Leaders

Twenty-First Century Fox Inc

ENTREPRENEURSHIP - Himalaya Publishing HouseEntrepreneurship is a dynamic process of creating incremental wealth. It is an applied seience. In the twenty-first century entrepreneurship

Part I – Entrepreneurship in the Twenty-First Century Chapter 1 - The Entrepreneurial Revolution Chapter 2 - Entrepreneurship: An Evolving Concept Chapter

Great Expectations: Twenty-First Century Public

QCD in the Twenty-First Century