Ons you have something in common with everyone you

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Unformatted text preview: orporate standards on individual ethical standards •  e.g., not taking longer than necessary for a job •  no company resources for personal use •  But less ownership in the company versus the entrepreneur •  Entrepreneurs may be under more stress and more easily influenced by external and peer pressures •  Which exhibits higher ethical standards? •  In one study, entrepreneurs exhibited higher ethical values (higher than the tradi?onal manager, due ownership in company) 24 Ethics “Honesty is the cornerstone of all success, without which confidence and ability to perform shall cease to exist.” - - Mary Kay Ash 25 26 4 8/28/13 Background: Age Background: Work Experience •  Most entrepreneurs ini?ate their entrepreneurial careers within what age group? •  Factors needed to launch and manage a new venture successfully: •  Dissa?sfac?on with job onen mo?vates launch of a new venture •  Previous technical and industry experience is important as a driver •  Experience in the following is par?cularly important: •  Finance/financing •  Product or service development •  Manufacturing •  Development of distribu?on channels •  Prepara?on of a marke?ng plan •  Managing teams –  Experience –  Financial support –  High energy level 27 28 Role Models and Support System •  Role models are important: parents, family members, or other entrepreneurs. How does having a role model help? –  Successful entrepreneurs act as catalysts and advisors for poten?al entrepreneurs •  Role models ser...
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