entrepreneurship vs ....-2

8/2/2019 Entrepreneurship vs ....-2

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Entrepreneur &

Entrepreneurship

Entrepreneur & Managers

Entrepreneur & Intrapreneur

Entrepreneur &

Intraepreneur


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EntrepreneurAn individual who, rather than working as an

employee, runs a small business and assumes allthe risk and reward of a given business venture,idea, or good or service offered for sale.

The entrepreneur is commonly seen as a businessleader and innovator of new ideas and business

processes.


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What keeps most people from becoming

entrepreneurs? Funding

Manpower

Strong backing

Branding/Marketing

Fear


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Entrepreneur and Entrepreneurship are two sides ofthe 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.


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Entrepreneur and EntrepreneurshipEntrepreneur

Entrepreneurship

Refers to a person Refers to a process

Visualizer Vision

Creator Creation

Organizer Organisation

Innovator Innovation

Technician Technology

Initiator Initiative

Decision-maker Decision

Planner Planning

Leader Leadership

Motivator Motivation

Programmer Action

Risk taker Risk taking

Communication Communication

Administrator Administration


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(Entrepreneur V/s Professional Managers)

Entrepreneur Professional Managers

Perception of an Opportunity Setting of Objectives

Risk-taking Policy formulation

Tactical Planning Strategic Planning

Interpersonal Communication Formal Communication

Negotiating Organising

Trouble shooting Motivating

Making it a growing concern Controlling

Innovator Administrator

Motivator Skilled, Knowledgeable

Determined and Idealist Confident and Specialist

Commited Loyal

Visionary Planner

Planner Implementer


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MANAGERS Vs ENTREPRENEUR

Managers Entrepreneur

Primary Motives Want promotion and traditionalcorporate rewards. Power-motivated

Wants freedom, goal-oriented self-reliant, andself-motivated.

Time Orientation Respond to quotas andbudgets,weekiy,monthly,quarterly.annual planning horizons, the next

promtion or transfer.

End goals of 5-10-yeargrowth of business in viewas guides. Takes action now

to move the next step alongway.

Action Delegate action. Supervising andreporting take most of energy.

Gets hands dirty. May upsetemployees by suddenlydoing their work.

Skills Professional training. Often

business school trained. Abstractanalytical tools,people-management,and political skills.

Knows business intimately.

More business acumen thanmanagerial or political skill.Often technically

Courage and Destiny Sees others in charge of his or herdestiny. Can be forceful andambitious, but may be fearful of

others' ability in case of optimism.

Self-confident,optimistic,courageous.


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Family History Family members worked for largeorganisations.

Entrepreneurial small-business,professional,oragricultural background.

Relationship with Parents Independent of mother, goodrelations with father, but slightly

dependent.

Absent father or poorrelations with father.

Socio-economicBackground

Middle-class background. Lower-class background insome early studies, middle-class in more recent ones.

Educational Level Highly educated. Less well educated in earlierstudies, some graduate workbut not Ph.D.in later ones.

Relationship with Others Hierarchy as basic relationship. Transactions and deal makingas basic relationship.


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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 wordmainstream by adding it in 1992

I have found an example of Intrapreneurship dating backcenturies earlier


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IntrapreneurA person within a large corporation who takes

direct responsibility for turning an idea into a

profitable finished product through assertive risktaking and innovation.

Intrapreneurs have entrepreneurial skills blended

with managerial skills but operate within theconfines of an organization.


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Defined asIntrapreneurs are dreamers who do, those whotake 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 whocan turn ideas or prototypes into profitablerealities. Dr. William Souder


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Developing Intrapreneurial

Culture New Ideas Encouraged

Trial & Error Encouraged , Failures Allowed

No Opportunity Parameters , VolunteerProgram.

Appropriate Reward System

Multidiscipline Teamwork Approach Top Management Support; Sponsors made

available.


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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 trainingprograms


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Intrapreneurial Activity Spotting ways to improve service Save time, money, or make life easier

Visualizing variations of current products /services

Realizing new communication avenues withcustomers

Enhancing the quality

New ways to get the job done quicker or smarter


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How does Business benefit? Firms create competitive advantages by

discovering new and better ways to compete in anindustry and bringing them to market

An enterprise that does not daily innovateinevitably ages and declines

Even in a successful business the disease ofbureaucracy and complacency is dangerous


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Intrapreneur Leadership Characteristics Understand the Environment.

Visionary & Flexible

Creates Management Option

Encourages Teamwork & Open Discussion

Builds Coalition of Supporters


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Companies that get it 3M

Post-It Notes

Apple Ipod

Google

Orkut

Google News


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Positive differences between entrepreneur

vs intrapreneur Funding

company/organization often has capital to fund theproject

Manpower

intrapreneurs do not have to worry about finding thetalent to get tasks performed

Branding intrapreneurs can use the branding of the

company/organization to get their ideas to take root


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Do you know the difference between a intrapreneurand a intrepreneur?


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IntrepreneurOne who sets up, maintains and assumes thefinancial risks of an Internet business venture not

to be confused with intrapreneur or the moretraditional entrepreneur.

They are the new breed of Internet Entrepreneurs.


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Name some companies started by

intrepreneurs? Google

Yahoo

MySpace Facebook

YouTube

Second Life

LinkedIn eBay


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Characteristics Results driven

Ambitious

Creative Original

Self Confident

Risk Tolerant

Persistent

Influencing

High EnergyAction oriented

Interpersonal

Innovative


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Thank you!

entrepreneurship vs ....-2

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