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Small Knowledge – Intensive Enterprise

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The word “entrepreneur” stems from French and means “between-taker” or “go between.” <ul><li>The definition involves four aspects: </li></ul><ul><li>The creation process. </li></ul><ul><li>The devotion of time and effort. </li></ul><ul><li>The assumption of risk. </li></ul><ul><li>Rewards of independence, satisfaction, money. </li></ul>

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<ul><li>Origins of the Term &quot;Entrepreneur&quot; </li></ul><ul><li>Late 18th century, Jean Baptiste Say: </li></ul><ul><ul><li>Entrepreneurs shift economic resources out of areas of lower and into areas of higher productivity and yield </li></ul></ul><ul><li>20th century, Joseph Schumpeter: </li></ul><ul><ul><li>The function of entrepreneurs is to reform or revolutionize the pattern of production </li></ul></ul>

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Recent Theories <ul><li>Peter Drucker, management guru: </li></ul><ul><ul><li>The entrepreneur always searches for change, responds to it, and exploits it as an opportunity </li></ul></ul><ul><li>Howard Stevenson, HBS: </li></ul><ul><ul><li>Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled </li></ul></ul>

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What is technology entrepreneurship? <ul><li>“ An act of innovation that involves endowing existing resources with new wealth producing capacity not restricted to a new technological innovation that results from research and development, or to an innovative cost reduction process, but maybe a new application for existing technologies, a product or service innovation or a new way or place of doing business ” </li></ul><ul><li>Peter Drucker </li></ul><ul><li>This leads to us defining two types of technology entrepreneur: </li></ul><ul><ul><li>Technology developers who develop a unique technology that drives a new venture </li></ul></ul><ul><ul><li>Technology users who see a new technology development and understand how it can be applied to meet a market need that creates a new venture </li></ul></ul>

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Linking Creativity, Entrepreneur and Innovation The practice and study of innovation and entrepreneurship can be approached from three different perspectives

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Linking Creativity, Entrepreneur and Innovation We will use the following definition of creativity “ Creativity is the making and communicating of meaningful new connections to help us think of many possibilities; to help us think and experience in varied ways and using different points of view; to help us think of new and unusual possibilities; and to guide us in generating and selecting alternatives. These new connections and possibilities must result in something of value for the individual, group, organization, or society.”

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Diagram www.themegallery.com Thomas Edison = Inventors Steve jobs = Innovators Translating the original technical inventions into new products But entrepreneur created and developed successful business base on the inventions and innovations

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Passionately seeks to identify new opportunities and ways to profit from change and disruption. Typically, an entrepreneur : Pursues opportunities with discipline and focuses on a limited number of projects, rather than opportunistically chasing every option. Focuses on action and execution, rather than endless analysis. Involves and energizes networks of relationships, exploiting the expertise and resources of others, while helping others to achieve their own goals. Personality : Promoting Individual Creativity

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Personality : Promoting Individual Creativity <ul><li>Information acquisition and dissemination, including the capture of information from a wide range of sources, requiring attention and perception. </li></ul><ul><li>Intelligence, the ability and capability to interpret, process and manipulate information. </li></ul><ul><li>Sense-making, giving meaning to information. </li></ul><ul><li>Unlearning, the process of reducing or eliminating pre – existing routines or behaviours, including discarding information. </li></ul><ul><li>Implementation and improvization, autonomous behaviour, experimentation, reflection and action. Using information to solve problems, for example during new product development or process improvement </li></ul>

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Idea Georges Doriat The idea person is not most important. In entrepreneurship, ideas really are a dime a dozen. Developing the idea implementing it, and building a successful business are the important things. Perhaps the biggest misconception about an idea for a new business is that it must be unique, obsessed with the thought that the idea might be stolen. &quot;Always invest in a grade A man with a grade B idea. Never invest in a grade B man with a grade A idea . ”

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Personality : Promoting Individual Creativity <ul><li>Adaptors characteristically produce a sufficiency of ideas based closely on existing agreed definitions of a problem and its likely solutions, but stretching the solutions. These ideas help to improve and ‘do better’. </li></ul>Kirton Adapter – Innovator Scale <ul><li>Innovators are more likely to reconstruct the problem, challenge the assumptions and to emerge with a much less expected solution which very probably is also at first less acceptable. Innovators are less concerned with doing things better than with doing things differently. </li></ul>

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Formal education and early work experience Personality : Promoting Individual Creativity Success factors Psychological profile Family and Ethnic background

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www.themegallery.com Destiny Detail The 10 Ds key Attributes of Entrepreneur ที่มา : Bygrave, W.D. The Portable MBA in Entrepreneurship, P5. Entrepreneur Dream Dollars Distribute Decisiveness Determination Devotion

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Entreperneur, Opportunity and Resource

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Process : Strategies and Stages of Creativity <ul><li>Understanding the opportunity </li></ul><ul><li>Opportunity construction </li></ul><ul><li>Exploring data </li></ul><ul><li>Framing problems </li></ul><ul><li>Generating ideas </li></ul><ul><li>Remove or suspend an assumption or goal </li></ul><ul><li>Reverse objectives or methods </li></ul><ul><li>Exaggerate the problem or goal </li></ul><ul><li>Distort the relationships or cause and effect </li></ul><ul><li>Generate random inputs </li></ul><ul><li>Use a metaphor or character </li></ul><ul><li>Planning for action </li></ul><ul><li>developing solutions and building acceptance </li></ul>

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A MODEL OF THE ENTREPRENEURIAL PROCESS

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Environment : Creating a Climate for Innovation <ul><li>Values, beliefs and Deeply Held Assumptions </li></ul><ul><li>Rituals and Heroes </li></ul><ul><li>Symbols and Artefacts </li></ul><ul><li>Can Culture Be Changed? </li></ul><ul><li>Climate Versus Culture </li></ul><ul><li>Trust and Openness </li></ul><ul><li>Challenge and Involvement </li></ul><ul><li>Support and Space for Ideas </li></ul><ul><li>Conflict and Debate </li></ul><ul><li>Risk – Taking </li></ul><ul><li>Freedom </li></ul>

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Entrepreneurship Success Stories Entrepreneur: Howard Schultz Company: Starbucks Corporation Year Started: 1987 Description of Business: The Starbucks Corporation sells coffee drinks from over 3,300 stores around the world. The company has entered into agreements with bookstores, airlines, and hotels.

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Entrepreneur: Arthur M. Blank Company: Home Depot Year Started: 1978 Description of Business: World's largest home improvement retailer. Entrepreneurship Success Stories

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It Doesn't Take a Million... Here's how four ultra-successful twenty somethings leveraged their brilliant ideas into major businesses online. And how you can, too. Entrepreneur Magazine - September 2010 Entrepreneurship Success Stories

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Entrepreneurship Success Stories Out of Her Closet, a $50 Million Business Susan Gregg was 17 and heading off to Carnegie Mellon University, and she had a problem: a closet overstuffed with one-of-a-kind vintage shoes and dresses. The solution? Open an online boutique.

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Entrepreneurship Success Stories Marketing Guru for the Digital Age Michael Mothner was on the last round of interviews for a coveted job as an analyst at Goldman Sachs in New York. The managing director looked over his résumé and noticed a company called Wpromote, which Mothner said he had started and had some success with as a sophomore at Dartmouth in 2001. &quot;To call my bluff, he asked why I would want to work for Goldman if my company had been successful,&quot; says Mothner, now 29. &quot;That was a defining moment for me. I stood up and said, 'You know what? You're right. I don't think this job is right for me.'&quot;

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Entrepreneurship Success Stories The New Food Democracy &quot;Just because something tastes awesome doesn't mean it can make it into stores,&quot; Olson says. &quot;So I started thinking 'How do we democratize this?'&quot; Olson, now 26, teamed up with Rob LaFave, 27, and Nik Bauman, 26--friends who shared entrepreneurial ambitions dating back to their time at Virginia Tech. Their search for alternative distribution models led online, a natural progression for twentysomethings raised in the Amazon.com era. The result, inspired by the crafts site Etsy, is Foodzie , a web marketplace that connects small vendors with shoppers across the U.S.

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Entrepreneurship Success Stories The Patriarch of Mobile Location Loopt is a quint essential expression of a generation shaped by mobility, interactivity and constant connectivity. In other words, it's the kind of innovation that could only spring from a mind as youthful as Sam Altman's. &quot;People often try to build things for themselves first,&quot; says Altman, Loopt's 25-year-old co-founder and CEO. &quot;I built this for my friends.&quot;

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Key to success <ul><li>The crucial ingredients for entrepreneurial success are a superb entrepreneur with a first-rate management team and an excellent market opportunity. </li></ul><ul><li>Would-be entrepreneurs who are unable to name customers are not ready to start a business. They have only found an idea and have not yet identified a market need. </li></ul>

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Conclusion <ul><li>Entrepreneurs have: </li></ul><ul><ul><li>A passion for what they do </li></ul></ul><ul><ul><li>The creativity and ability to innovate </li></ul></ul><ul><ul><li>A sense of independence and self- reliance </li></ul></ul><ul><ul><li>(Usually) a high level of self confidence </li></ul></ul><ul><ul><li>A willingness and capability (though not necessarily capacity or preference) for taking risks </li></ul></ul>The Small and Medium-Sized Enterprises (SMEs) Division of WIPO

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Thank You !

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