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adownload_doc-1.php - TRENDS IN RESEARCH AND EDUCATION...

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TRENDS IN RESEARCH AND EDUCATION Intrapreneurship - entrepreneurship within large organizations Gazelle - a business establishment with at least 20% sales growth every year (for five years), starting with a base of at least $100,000. o Gazelles produce twice as many product innovations per employee as do larger firms. o The common myth is that 85% of all firms fail in the first year. o The more accurate statement is that about half of all start-ups last between 5 and 7 years. INTERNET Smaller ventures use the Internet for a variety of operations: o customer-based identification o advertising o consumer sales o business-to-business transactions o e-mail o private internal networks for employees. Stickiness – how long a website can keep someone looking at it #1 use is for company information EVOLUTION OF ENTREPRENEURSHIP Entreprendre – French for to undertake: where entrepreneurship is derived from. The Corridor Principle - With every venture launched, new and unintended opportunities often arise. (Post it notes) Entrepreneurial Schools-of-Thought Approach The Macro View ( External locus of control ) o The Environmental School of Thought o The Financial/Capital School of Thought o The Displacement School of Thought 1. Political Displacement 2. Cultural Displacement 3. Economic Displacement The Micro View ( Internal locus of control ) o The Entrepreneurial Trait School of Thought o The Venture Opportunity School of Thought o The Strategic Formulation School of Thought
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Strategic Formulation as a Leveraging of Unique Elements - Unique Markets : mountain gap strategies - Unique People : great chef strategies - Unique Products : better widget strategies - Unique Resources : water well strategies 3M’s Innovation Rules o Don’t kill a project o Tolerate failure o Keep divisions small o Motivate the champions o Stay close to the customer o Share the wealth Corporate Entrepreneurship Assessment Instrument (CEAI) (measured key entrepreneurial climate factors) o Management Support o Autonomy/Work Discretion o Rewards/Reinforcement o Time Availability o Organizational Boundary Venture Team - composed of two or more people who formally create and share the ownership of a new organization. o The leader is called a “product champion” or an “intrapreneur”. The Top Ten Characteristics Today’s Entrepreneurs Share: o Recognize and take advantage of opportunities o Resourceful o Creative o Visionary o Independent thinker o Hard worker o Optimistic o Innovator o Risk taker o Leader
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The Dark Side of Entrepreneurship o Confrontation with Risk 1. Financial Risk 2. Career Risk 3. Family and Social Risk 4. Psychic Risk o Stress o Ego 1. Extreme Sense of Distrust 2. Overbearing Need for Control 3. Overriding Desire for Success 4. Unrealistic Optimism Creativity - the generation of ideas that result in the improved efficiency or effectiveness of a system. Innovation -
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adownload_doc-1.php - TRENDS IN RESEARCH AND EDUCATION...

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