Recognizing and Creating Entrepreneurial Risks and Managing Them

Recognizing and Creating Entrepreneurial Risks and Managing Them

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Recognizing and Creating Entrepreneurial Risks and Managing Them Practitioner’s Perspective Ideas are not valuable, good ideas are valuable and rare Innovation is terribly hard, if it were easy everyone would do it and it would not be valuable Tremendous amounts of information gathering and processing Creativity is not enough- it is a small part Must be open, optimistic, and positive It is essential to find problems people do not recognize or ignore Problems are already out there, we must find solutions Innovation is a structured and systematic approach to find, deliver, and solve problems Understanding of previous solutions Innovation is not a linear process Starts with a rough start Failing forward: learning from failures – very important Equifinality- Multiple possible solutions, there is not a single optimal solution Constructive failure- the ability to take failure in stride, move forward, and reap successes as failures
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This note was uploaded on 02/05/2012 for the course MGMT 310 taught by Professor Staff during the Spring '08 term at Iowa State.

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Recognizing and Creating Entrepreneurial Risks and Managing Them

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