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Ch6_EntrepreneurshipNOTES - Career Life Path Principles of...

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Personality Career / Life Path 2/3/10 Principles of Management Ch 6: Entrepreneurship 1) It is a process o Perception (I perceive an opportunity. Maybe where others do not.) o Incubation o Inspiration o Innovation Pursuit of new & innovative opportunities NOTE: Entrepreneurship really promotes growth!! Innovation - ? Why? Change the world o High needs for achievement o High needs for self confidence o High needs for propensity for risk o High needs for creativity Current career Exposure to role models 2) How can a company promote entrepreneurship? Organizational structure o Flat, Communication (free flowing communication, keep org flat so no BS) Organizational culture o Risk (encourage risk taking in your culture, mistakes are tolerated as cost for innovative ideas/products/etc.) o Reward (Reward the people for their work, ideas, successes!) HR Practices o Hiring o Training o Compensation (best if they can share in the success as you move forward.) 3) You are an entrepreneur – How to launch?
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