Contextual factors influencing your chosen entrepreneur Challenges affecting your chosen entrepreneur

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SIEN6006 Entrepreneurship
Entrepreneurship &
organisations
Week 5 Workshop
Sergio Pinzon

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Today’s agenda
• Last week recap
• Entrepreneurship and Organisations
• Exercise #1: Contextual factors influencing your chosen
entrepreneur
• Exercise #2: Challenges affecting your chosen entrepreneur
***time permitting***

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Recap

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Homework
You were required to complete the five-factor model of personality test (as detailed on Canvas).
From your own personal results:
• Identify one personality aspect you consider a strength and one personality aspect you consider a weakness.
• Identify examples of how these ‘strong’ and ‘weak’ personality aspects have influenced your ability to interact in the
workplace/university.
• How might these personality aspects influence your behaviour as an entrepreneur?
• Apply the ‘five factor model of personality’ to your chosen entrepreneur for exercise #1. Which traits are they
‘strong’ in, and which traits are they ‘weak’ in? Why do you think this?
• Your reflection on one aspect of 100 Things Successful People

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New venture formation: influences and
organisations
– Creating a new venture can be viewed as
the result of:
– The interactions of individual
entrepreneurial skills
– The contextual factors that may create
opportunities, provide support or even
hinder entrepreneurship

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Factors that can motivate individuals to launch
a new venture*
Antecedent influences
• Genetic factors
• Family influences
• Educational
choices, and
• Previous career
experiences
Individual
incubator
experiences
• Learned skills
• Incubator
experiences
• Supporting
organizations
Environmental
factors
• Funding
available
• Supporting
services
• Economic
conditions
• External
factors that
helped with
their success
*According to Bessant & Tidd (2018)

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Exercise #1
• Choose one venture or success story relating to your chosen entrepreneur for
Assignment #1.
• Using Bessant and Tidd’s (2018) model, 'factors which influence the creation
of a new venture’, identify the factors that relate to your chosen
entrepreneur's new venture creation
• Do the factors that have influenced your chosen entrepreneur fall into
‘antecedent influences’, ‘individual incubator experiences’ or
‘environmental factors’?

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Antecedent influences Individual incubator experiences
Environmental factors

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Challenges in Scaling a New Organisation
• Establishing a product-market fit
• Social systems
• Leadership for growth
Having an innovation strategy

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Homework
Choose one venture or success story relating to your chosen
entrepreneur for assignment #1.
• Identify two challenges the entrepreneur’s start-up has faced or
will soon face
• Develop possible strategies for addressing these challenges

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Group formation: Assignment #2
Assignment 2 -- discussion thread created for each workshop.
Identify the top two emerging areas you would like to be assigned
to, in order of preference, along with your full name and student
number (see the relevant Discussion threads for more details).
Please complete this task by Friday 22nd March, 23:59.
Make sure you post in the Discussion thread set up for your
workshop and not in any others.
Students who do not complete this task by the deadline will be
randomly assigned to an emerging area.

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Module 6 – Entrepreneurship and Wider Contexts
We will:
• Understand the importance of ecosystems to entrepreneurs and innovators
• Recognise the benefits of taking an 'ecosystem lens'
• Identify ways entrepreneurs and innovators can proactively become part of an
ecosystem
• Map out relevant innovation and entrepreneurial ecosystems.
• Review: Canvas content; required readings
• Lecture: Guest speaker details to be announced on Canvas
• Reflection and preparation for our next Workshop: Detailed on Canvas

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