EntrepreneurshipMGT3200

EntrepreneurshipMGT3200 - Demographics- level of population...

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Sources Creative destruction Joseph Schumpeter innovation
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Innovation Spread Bleeding Leading State of the art Dated Obsolete
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Win or Loose Firms should be aware Portfolio of innovations Being the best may not be the best thing Legitimacy rather than profit seeking Its ok to be average Core competency Fads
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Where does it come from Drucker Seven sources The unexpected The incongruity- what is and what should be i.e. Investment Services- very aggressive in making short term trades. Most companies that invest, appeal to higher income people. Process Need- “Necessity is the mother of invention” Changes in Industry- When there is a shakedown in an industry, old rules are broken and no new rules.
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Unformatted text preview: Demographics- level of population change. Perception- how we view things New Knowledge- can be scientific or changing a process. Firms develop a new knowledge and can be risky. How do they do it Uncertainty- high levels. Entrepreneurs thrive on high levels of uncertainty. Willingness to see things differently Guts- (not afraid to fail) Blank slate ( i.e. White Castle financing and location) Leader driven- guy or girl who inspires or motivates. Can firms be entrepreneurial Twenty plus years ago I would not be teaching this Things do not remain static Firms can change And entrepreneurs can be managers And vice versa...
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EntrepreneurshipMGT3200 - Demographics- level of population...

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