Entrepreneurship

BMK1074
AC lecture
22 April
at 12.15 – 15.45

BMK1074 Entrepreneurship I Johanna Hallbäck

Agenda on 22 April 12.15-15.45
12.15 Exercise 4 - presentations by students

Coffee break

13.30 Exercise 4 - presentations by students

Coffee break

14.30 Cultural differences in entrepreneurship

Exercise 5 (preparation and presentations)
Info about the exam and closing of the course
Exercise 4
Your task was to plan and conduct an interview with an
entrepreneur of your choice and then do a summary report
of your interview, presenting the steps by which the
enterprise was established (from a business idea to a
running business).

1. Interview an entrepreneur of your choice

• The interview should give answers on how this person became an
entrepreneur and started his/her current business.
• After the interview, you should be able to describe the process of
establishing the business all the way from getting the business idea
to starting operations

2. Present your summary based on the interview in PPT-

slides (or word document).

BMK1074 Entrepreneurship I Johanna Hallbäck

Exercise 4
Some example questions for discussion in the interview were provided in Optima
• What was the original business idea? How the entrepreneur came up with the
business idea? How (if at all) was the business idea tested before moving on in the
process? (stage 1)
• Did the entrepreneur prepare a detailed business plan? What were the primary
objectives set for the business in the beginning? (stage 2)
• How the form of business and trade name were selected and have they worked
well or been changed? (stage 3)
• How funding was secured in the beginning? (stages 4-5)
• Is there something special related to stages 6-10 that this entrepreneur had to deal
with? (registration, licenses and permits, finding premises, protecting the business
idea or insuring the business) (stages 6-10)
• What form of entrepreneurship describes this business (see the 8 forms in exercise
3)?
• What were the major challenges and drawbacks in the beginning and how they
were overcome?
• What are the major objectives and challenges currently?
• If the company has pursued growth, how the business has grown and what
challenges has growth entailed?
Exercise 4

Presentation
• Approximately 5 minutes
• Go through the main points of your report
• Teacher will upload your presentation from Optima, so
students are not uploading content to AC but focusing
on oral presentation

BMK1074 Entrepreneurship I Johanna Hallbäck

 1 Nhu Nguyen & Hien Nguyen
Exercise 4 2
3
Ly Hoang & Md Jamil
Kevin Lind, Esteban Penades Munoz & Marion Garet
4 Faisal Kazi
5 Du Tuyen, Thu Truong & My Lam
6 Sinthia Sharmin Sonia & Tasfia Azad
Teams 7 Gurung Til & Pabitra Sigdel
8 Anca-Andrea Toma
9 Rudolf Kimbi, Kwe Gui & John Shu
10 Ahmed Shafin, Jihane El Wadia & Jihane Goulferni
11 Jiyon Khan, Hieu Nguyen & Nhi Huynh
12 Zakaria Abourabi, Larbi Foudi & Amine Naini
13 Darius Zugravu & Leoca Andrei
14 Susmita Adhikari & Sandeep Adhikari
15 Hugo Wacheux
16 Daniele Greco
17 Letizia Marcantognini
18 Anastasiia Shapovalenko
19 Lovetta Shu
20 Hang Vu
21 Abdus Samad
22 Asli Yaksi
Entrepreneurship in different
cultures and countries
Role of entrepreneurship for society
Economic impact

• In most countries, SME’s account for more than 95% of firms

• Small entrepreneurial firms have huge economic impact thru
• Innovation. The process of creating something new is central to the
entrepreneurial process. Small innovative firms are remarkably more
productive than larger innovative firms in terms of patents per
employee
• Job creation. Small businesses create a substantial number of new jobs
in many countries.

Impact on society
• Innovations by entrepreneurial firms bring new products and
services that make people’s lives easier, enhance our
productivity at work, improve health, entertain us etc.
BMK1074 Entrepreneurship I Johanna Hallbäck
See Barringer & Ireland (2015), chapter 1, pages 44-47 for more.
Role of entrepreneurship for society
Impact on larger firms

• Many entrepreneurial firms have built their entire business

models around producing products and services that help larger
firms become more efficient and effective.

• Do you have examples?

• Many new products such as smart phones or improved

medicines are not solely the results of product development in
large companies with strong brand names (such as Apple and
Samsung). They have been produced with innovative
components or R&D efforts in small entrepreneurial firms.

BMK1074 Entrepreneurship I Johanna Hallbäck

See Barringer & Ireland (2015), chapter 1, pages 44-47 for more.
Entrepreneurship in different cultures

• What are the most entrepreneurial countries in the world?

• Are entrepreneurs different across countries or cultures?
• What is rural entrepreneurship like in different cultures?
• Family business vs. start-up entrepreneurship in different
cultures?

BMK1074 Entrepreneurship I Johanna Hallbäck

 A screenshot from: https://blog.approvedindex.co.uk/2015/06/25/map-entrepreneurship-around-the-world/
Entrepreneurship is defined as the percentage of an adult population who own (or co-own) a new business and has paid salaries
or wages for at least 3 months.

Based on GEM (Global Entrepreneurship Monitor) data 2015

Entrepreneurship is defined as the percentage of an adult population who own (or co-own) a new business and has paid salaries
or wages for at least 3 months.

Based on GEM (Global Entrepreneurship Monitor) data 2015.

A screenshot from: https://blog.approvedindex.co.uk/2015/06/25/map-entrepreneurship-around-the-world/

Table 1.1 Entrepreneurship-Friendly Nations
Scarborough & Cornwall: Essential of Entrepreneurship and Small Business management. 9th ed.
Which nations provide the best environment for cultivating entrepreneurship? A recent study ranked 137
countries on the quality of the entrepreneurial ecosystem in each nation using the Global
Entrepreneurship and Development Index (GEDI), an index that includes a variety of factors that range
from the availability of capital and workforce quality to attitudes toward entrepreneurs and technology
available. The maximum GEDI score is 100.

GEDI Score, Top Ten Countries GEDI Score, Bottom Ten Countries
1. United States 83.4 128. Venezuela 13.0
2. Switzerland 78.0 129. Nicaragua 12.7
3. Canada 75.6 130. Malawi 125
4. Sweden 75.5 131. Guinea 12.1
5. Denmark 74.1 132. Burkina Faso 11.9
6. Iceland 73.5 133. Bangladesh 11.8
7. Australia 72.5 134. Mauritania 11.6
8. United Kingdom 71.3 135. Sierra Leone 11.4
9. Ireland 71.0 136. Burundi 11.4
10. Netherlands 67.8 137. Chad 8.8
Source: Global Entrepreneurship Index, The Global Entrepreneurship and Development Institute, 2017,
https://thegedi.org/global-entrepreneurship-and-development-index/.

Copyright © 2019, 2016, 2014 Pearson Education Ltd. All Rights Reserved.
Data and statistics

• Global Entrepreneurship Monitor (GEM)

• The Global Entrepreneurship and Development Institute
• OECD Centre for Entrepreneurship, SMEs, Regions and Cities

BMK1074 Entrepreneurship I Johanna Hallbäck

GEM – Global Entrepreneurship Monitor
https://www.gemconsortium.org/
GEM – Global Entrepreneurship Monitor

• A consortium of national country teams that carries out survey-

based research on entrepreneurship around the world
• Each team is lead by a local university or academic institution.

Some key measures:

• Total early-stage entrepreneurial Activity (TEA):
• Percentage of the 18–64 population who are either a nascent
entrepreneur or are owner-manager of a new business, i.e. the
proportion of the adult population who are either starting or running a
new business.
• Nascent Entrepreneurship Rate:
• Percentage of the 18–64 population who are currently nascent
entrepreneurs, i.e. actively involved in setting up a business they will
own or co-own; this business has not yet paid salaries, wages, or any
other payments to the owners for more than three months.

BMK1074 Entrepreneurship I Johanna Hallbäck

The Global Entrepreneurship and
Development Institute
https://thegedi.org/
• An US-based institute founded by some former members of GEM

• GEDI publishes annual Global Entrepreneurship Index (GEI) data

about 137 countries

• GEI gives a rating of an individual country's

entrepreneurship ecosystem - the mix of attitudes, resources, and
infrastructure

• Hence, it looks at the attitudes as well as at how individual

countries across the world allocate resources to
promoting entrepreneurship, if indeed they do.

BMK1074 Entrepreneurship I Johanna Hallbäck

 Exercise 5
Exercise is done in teams, using shared office document.
Deadline Sunday 25 April at 23.59.

BMK1074 Entrepreneurship I Johanna Hallbäck

Exercise 5
Student teams learn entrepreneurship profile of a given
country and present it at the virtual class

• Using the data provided in the Internet, each team spends

30 minutes to find out the characteristics of
entrepreneurship in one country of their choice. You can
describe the country for ex. in terms of
• Self-employment rate
• Entrepreneurship by gender and age
• Youth entrepreneurship
• Motives for entrepreneurship
• Environment for entrepreneurship
• Enterprises by size
• Early-stage entrepreneurship profile
• Percentage of people involved in early-stage entrepreneurship
• Early-stage entrepreneurship by gender and age
• What industries prevail among newly established firms
BMK1074 Entrepreneurship I Johanna Hallbäck
Exercise 5
• We work in Office 365, using shared PPT-document. Link to the
document:
https://centriafi-
my.sharepoint.com/:p:/g/personal/johanna_hallback_centria_fi/EUbbKq
W_BM5Bvzi31CBsS28BwuTPVV67dGi5JPBweTHzUw?e=TOhw5S
(If the link stops working, send me an e-mail!)
• Select a country and write it in the table in your team’s column. Do
not pick a country that is already reserved by another team.
• As a team, pick an empty slide and write there your names as well as
the country you focus on and start making your presentation from that
slide on​
• Altogether, use 1-3 slides (add slides) to describe the
entrepreneurship profile of your selected country. Put your names in
each of the slides you have made. Mark references.
• Finalize your slides by Sunday 25 April at 23.59 (the document closes
then). You do no need to hand in the exercise to Optima. I will make the
final document available for everyone in Optima on Monday 26 April.
BMK1074 Entrepreneurship I Johanna Hallbäck
Exercise 5
You can look for data and statistics in for ex.

• OECD, for ex.

• http://www.oecd.org/industry/smes/
• https://www.oecd-ilibrary.org/industry-and-
services/entrepreneurship/indicator-group/english_15abedae-en
• GEM (https://www.gemconsortium.org/), for ex.​
• Global Report (https://www.gemconsortium.org/report/gem-2019-
2020-global-report)​
• National reports​
• GEDI (https://thegedi.org/)​
• Other statistics and Internet sources​

BMK1074 Entrepreneurship I Johanna Hallbäck

Exam 29 April at 12.15 in Optima
• Online exam on 29 April at 12.15-13.15 in Optima.
• Make sure your Internet connection is working!
• Use either a laptop or a desk computer. If you use a laptop, make sure it is fully
charged before the exam!
• Sign in to Optima, go to Exam-page and start the exam at 12.15
• You have 60 minutes to complete the exam
• Exam will consist of essay type question(s) where you are asked to apply the
course material

• Material in the exam (can be accessed via the Course material –page in
Optima):
• Handouts
• Enterprise Agency Guide (2019). Guide: Becoming an entrepreneur in Finland
• Barringer & Ireland (2015). Entrepreneurship: successfully launching new
ventures.
• Chapter 1
• Chapter 2
• Save the material to your computer! Do not try to open the material in Optima
during the exam, but use the files in your computer instead.
BMK1074 Entrepreneurship I Johanna Hallbäck
Assessment
Course is assessed on a scale 0-5.

Course grade is based on

1. Exam (max 75 points).
2. Five exercises (max 25 points.) Exercises are evaluated as
pass/fail and for each passed exercise a student gets 5 points.

Student activity will influence the final grade.

To pass the course, student needs to pass the exam and get a
minimum of 40 course points.
To pass the exam, you need to get a minimum of 40% of exam
points, i.e. min 30 points).

BMK1074 Entrepreneurship I Johanna Hallbäck

Grading

To get a course grade, a student needs to pass the Course points Course
exam and get a minimun of 40 course points.
(exam + exercises) grade*
By doing the exercises, the student may improve
the course grade. For each passed exercise, 5 < 40 0
points are given.
40-54 1
For ex. A student gets 45 exam points (which
would be equal to grade 1) but also completes four 55-64 2
exersices, resultsing into 20 additional points.
Course points altogether would then be 65 (=grade
3). 65-74 3

75-84 4
For ex. To get a course grade 5, a student who has
done all exercises (25 points), needs to get 60/75
points from the exam. ≥ 85 5

BMK1074 Entrepreneurship I Johanna Hallbäck

 Thank you
&
good luck for the exam!