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Entrepreneurship & Intrapreneurship: What it takes to make it work. Entrepreneurship The process of uncovering and developing an opportunity to create value through innovation and seizing that opportunity without regard to either resources (human and capital) or the location of the entrepreneur—in a new or existing company (Churchill, 1992: 586). Entrepreneurship Characteristics Commercial leanings Lack of structure/self-control Visionary tendencies. Risk-taking/appetite for uncertainty Persistence Doer/high initiative Charisma and extroversion Entrepreneurship Characteristics High-energy level Strong self-image Team building skills/uses contacts and connections Views failure as learning Commitment and fun Entrepreneurs vs. Managers Reward System - Doing what they like.Independence. Activity - Direct involvement. Risk - Moderate risk taker. Status - Not concerned about status symbols. Reward System - Corporate rewards. Promotion, staff, office, money. Activity - Delegates and supervises. Risk - Avoids risk. Status - Concerned about status symbols. Mistakes - Deals and learns from them. Decisions - Follows dreams with decisions. Who serves - Customers and self. Relationships - Deal-making and reciprocity. Time orientation - 5 - 10 years. Mistakes - Avoids or shifts blame. Decisions - Agrees with those above them. Who serves - Others. Relationships - Hierarchy. Time orientation - Short- term. Intrapreneurship Characteristics Understands the environment. Visionary and flexible. Creates management options. Encourages teamwork. Encourages open discussion. Builds a coalition of supporters. Persists. Dimensions of Intrapreneurship (Antonic and Hisrich, 2003)--Dimensions of Intrapreneurship (Antonic and Hisrich, 2003)---

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Where and in what ways is change creating the potential for new rules and new space? What is the potential for revolution inherent in the things that are changing right now. Failure ok! Resources available and accessible Long time horizon Appropriate reward system Sponsors and champions available Support of top management Don‘t Lose Focus!!! o ―It is the customer who. 2000) Overview of the process ---Intrapreneurship Environment New ideas encouraged Trial and error encouraged. in the end.Inhibition Bureaucracy Tradition and culture Poor communication Penalties for failure Tight deadlines Authority over responsibility Values which inhibit Managing Creativity.‖ Lord Robens XXXXX Idea Generation Other people see things and say „Why?‟ …. But I dream things that never were and say „Why not?‟ George Bernard Shaw Attributes of the Creative Person Openness to experience Observance – seeing things differently Curiosity Personal freedom Willingness to take calculated risks Self reliance Persistence Freedom from fear of failure Desire for recognition Managing Creativity. o determines how many people are employed and o what sort of wages companies can afford. or have already changed? What are the discontinuities we could exploit? What aspect of what‘s changing can we come to understand better than anyone else in our industry? What‘s the deep dynamic that will make our new business concept oh-so-relevant right now? (Hamel.o o o o o o o o o o o o o o o o Critical Questions that need to be asked to create wealth generating activities.Fostering Open organisational structure Freedom to fail Culture of new ideas Delegate responsibility Circulate success stories .

What are the differences? Key Issues . how Assumption Smashing Discontinuity Screening ideas for opportunities The ‗Gut Feeling‘ is not good enough! Need for Solid Market Research Size of market Competitor Analysis Market Conditions and trends Profit Margins Revenue Opportunities Assessing a Good Idea – Questions to ask (O’Kane) Why is it a good idea? What are the assumptions? What type of customer will buy it? Why? List four ideas why the idea will NOT work List four ideas why it will work. Techniques for generating ideas Guidelines for idea generating sessions Select participants Have a facilitator Task Focus Time Management Brainstorming Attribute Listing Who. Existing Businesses Franchises Product Licensing Patents Networking Support Agencies WWW………. what. why.. where. when.Empowerment Creative Organisation Sharing a vision Interpersonal support Praising achievement Coaching Conflict resolution Accepting failure Sources of Ideas……….

open minded.high but realistic goals Drive to achieve and grow Low need for status and power o o o o . o Commitment and determination Tenacity and decisiveness Able to commit quickly Discipline Persistence in solving problems Willingness to undertake a personal sacrifice Total immersion Leadership Self starter. lateral thinker Restlessness with the status quo Ability to adapt and change Creative problem solver Ability to learn quickly Lack of fear of failure Ability to conceptualize Motivation to excel Goal and results orientation . holistic in approach and leadership balanced. self reliance and ability to adapt Non conventional. higher standards but not perfectionist Team builder and hero maker Inspires others Treat others as he wants to be treated Shares the wealth with all the people who helped create it Integrity and reliability. and acting that is opportunity obsessed.Timing Feasibility of the idea Suitability of the idea to the circumstances of the potential entrepreneur Transforming Ideas into Realisable Opportunities Action-oriented Focus and pace Easy to understand Networking with the industry Try. At the core is the creation and/or recognition of Opportunities and the ability to seize opportunities. practices fairness Superior learner and teacher Patience and urgency Opportunity obsession Having intimate knowledge of Market drive Obsessed with value creation and enhancement Creativity. reasoning. test and revise Harnessing competencies and capability XXXXX o View of Entrepreneurship A way of thinking. builder of trust.

based on the learning of this class What is creativity? Creative behaviors possessing an element of newness. or product that changes an existing domain. sharpened. novelty. amplified. subconscious mind Illumination: idea of a solution comes to mind Verification: solutions are tested Koestler's premise on the creative process is "bisociation. or that transforms an existing domain into a new one." Creativity and Innovation Creativity leads to innovation “Innovation is the specific instrument of entrepreneurship. and wealth creation in the society. 1996) Creativity is an act. indeed. rather than a technical term Entrepreneurship “Entrepreneurship is a way of thinking. reasoning and acting that is opportunity obsessed. (Csikszentmihalyi) What is creativity? Wallas‟ description of creative thinking. flexibility. Motivation Relating the different topics covered during this course Application of the knowledge gained in class Beliefs Role of system is as vital as the individual in bringing about the successful implementation of an innovative design or idea Creativity can be developed. Innovation. holistic in approach and leadership balanced. and difference (Herrmann. and creative person is whose thoughts or actions bring these changes. because it is a factor of nurture as well as nature Overview Discussion of the various definitions of creativity and its relevance to entrepreneurship The role of educational institutions in the success of entrepreneurial culture in US Current endeavors taken in the developing countries to encourage entrepreneurial skills Suggestions to encourage creativity in Entrepreneurship development programs.Provides inter-personal support Aware of weaknesses and strengths Having a perspective and sense of humor XXXX Creativity in Entrepreneurship Foreword Education provides the foundation for creativity. The act endows resources with a new capacity to create wealth. creates a resource.” (Drucker) Entrepreneurship is all about innovation Innovation is economic or social. an idea. suggests a model in four stages: Preparation: problem definition Incubation: resting phase.” .

ambiguity and uncertainty. Six Thinking Hats. tolerance of risk. New Knowledge (Drucker) Tolerance for ambiguity is related to certain entrepreneurial styles “Creative destruction” procedures and destroys or reallocates amassed resources Creative in identifying the gap in the market and think up a product Role of Educational Institutions Until 1970. leadership. and creatively use it to their advantage The Unexpected. Lateral Thinking. entrepreneurship emerges as an important element in the dynamics of modern economics in US In US. Industry and Market Structures. Process Need. self-reliance and ability to adapt. Demographics. ability to use failure experience as a way of learning Entrepreneurship and Creativity Creative in figuring out a way to work in a joint venture Creativity comes in writing an amazing sales letter or visualizing the perfect logo For practicing innovation. from a base of 16 in 1970. Accelerate the industrial development by enlarging the supply of entrepreneurs Industrial development of rural and less developed areas Enlarging the small and small-medium enterprise sector Providing productive self-employment to a number of young men and women EDPs are functioning in India as a “School for Entrepreneurs” Provided with the many benefits and advantages Diploma holders of science. they need to be aware of change. opportunity obsession. creativity. engineering and technology are being identified and selected for entrepreneurial training have technical competency needed to start the new ventures Attainment of technological self-reliance is the immediate goal Recommendations Entrepreneurship education should encourage students to challenge everything there is no single right answer to choose . TRIZ etc Technology and business incubators “complete innovation system” Provide financial. very few universities offered entrepreneurship courses 1980s. Brainstorming. the number of schools offering entrepreneurship courses had grown to over 400 by 1995 Nurturing Creativity Several techniques to encourage creative thinking Ask Questions. Changes in Perception. marketing and design support Generation of new creative ideas and business plans joint and cross-disciplinary learning Efforts in Developing Countries Strategy of Entrepreneurship Development programs (EDPs).Entrepreneurial qualities commitment and determination. Incongruities. and the motivation to excel.

and reading readiness Provides deeper understanding about how they can work better as individuals and together as a team Recommendations Teamwork should be encouraged in these programs People who makeup teams have valuable experience of different domains Working in teams focusing on ideas for change. is the method of determining if a training need exists and if it does. . perception. A ‗Training Needs Assessment‘. positive attitudes toward science. or Training Needs Analysis‘. which spur creativity Recommendations Different techniques to enhance creativity must be incorporated in the courses awareness of the different tools available such as TRIZ and Thinker Toys practice the proper uses of brainstorming encouragement to use tools for coming up with new ideas The class should be structured to have elements of surprise for the students Recommendations Use of IT tools to promote creativity and thinking. The Reasons for Training Needs Assessment The purpose of conducting a needs assessment is to prevent a quick fix approach to business problems. what training is required to fill the gap.Most educated people are quite good at linear thinking The creative person couples this depth with lateral creativity Innovative thoughts require more than logical thinking Recommendations Programs should encourage activity-based projects increases creativity. encourages commitment to that process Fun to brainstorm in teams. To determine whether training is needed. A training need exists when there is a gap between what is required of a person to perform his/her work competently and what he/she knows. humor and laughter are outcomes. The following are the reasons for doing training needs assessment. communication skills. should be incorporated in studies Program should try to present familiar information in unfamiliar context presenting information in new and innovative ways to help students look for new possibilities Programs should be exciting and fun humor encourage innovative thinking XXXX Training and Training Needs Assessment Objectives of the Chapter Training Needs Assessment Competency Mapping Training Needs Assessment Training needs can be identified by deducting the existing skills from the job requirements. logic development.

Sources of information to conduct task analysis are as follows: Job description KSA analysis Performance standards Observe the job/sample the work . Planning systems. down time. To provide a basis of measurement. To determine desired training outcomes. equipment utilization. repairs. Organizational goals resources available. Organizational Analysis contd… Sources of information to conduct organizational analysis are – Organizational goals and objectives. The organizational analysis should identify Environmental impacts. Changing technology and automation. Organizational Analysis contd… products. long-and short-term staffing needs. To gain management support. costs of labor. Annual report. Task analysis. waste. State of the economy and the impact on operating costs. quality of products. mission statements. skills. strategic plans.To determine causes of poor performance. Audit exceptions. production rates. Trends such as sexual harassment and workplace violence. attitudes and abilities needed to achieve optimum performance. To determine content and scope of training. costs of distribution. equipment utilization. Increasing global/world market places. Employee attitudes and satisfaction. Staffing inventory. repairs. Climate and support for training. Changes in equipment. Organizational Analysis Organizational analysis looks at the effectiveness of the organization and determines where training is needed and under what conditions it will be conducted. Skills inventory. costs of materials. late deliveries. reward systems. costs of distribution. Levels of Training Needs Assessment There are three levels of needs assessment Organizational analysis. waste. late deliveries. technology or automation. Plans for reorganization or job restructuring. Delegation and control systems. Organizational Analysis contd… Changing work force demographics and the need to address cultural or language barriers. succession planning. Individual analysis. Analysis of efficiency indices. Task Analysis Task analysis provides data about a job or a group of jobs and the knowledge. down time. production rates.

and/or with specific knowledge. and abilities that directly and positively impact the success of employees and the organization. and developing the action plan. career development. Records and report studies. It gives a consensus of what skills are important to job performance. It gives a consensus to identify which skills that are actually aligned with organizational goals and inturn is related to the reward system of an organization. Tests. but the skills will not be supported to the workplace when the training is over Competency Mapping Competencies will provide opportunities for employees to determine what it makes to be fully successful. skills. Competency Mapping contd… .Task Analysis contd… Perform the job Job inventory questionnaire Review literature about the job Ask questions about the job Analysis of operating problems Individual Analysis Individual analysis analyzes how well the individual employee is doing the job and determines which employees need training and what kind. Behavioral Anchored Rating Scale (BARS). Consultation with persons in key positions. performing GAP analysis. Advantages of Training Needs Assessment contd… It gives a consensus of identifying the critical skills are in need of training. Competencies are identified behaviors. Without alignment of rewards and incentives. the training may succeed. prioritizing the needs. Techniques for Investigating Organizational and Personal Needs Focus groups. Questionnaires. Management can utilize competencies of employees to determine appropriate training needs. Sources of information to conduct individual analysis are – Steps in the Needs Assessment Process Training needs assessment process consists of three steps namely. but their managers as well. It helps to understand what skills are important at different levels of functional groups in the organization. Not just from the perspective of the job incumbents. selection and placement and compensation for employees. Direct observation. Interviews. Review of relevant literature. Techniques for Investigating Organizational and Personal Needs The following are several needs assessment techniques which Training Managers generally follow in the organization. Work samples. knowledge. Advantages of Training Needs Assessment The following are the advantages of training needs assessment.

It provides a list of competencies relevant to one‘s progress. They are – Personal attributes. CAT is programmed to handle the industry competency model only. basic.Some core competency examples include – Technical and Functional Expertise Understanding the Business Achieving Results Serving the Customer Teamwork Interpersonal and Communications Skills Leadership and Personal Effectiveness Competency Model A competency model is a descriptive tool that identifies the skills. Analysis and Planning in a competency-based format. Mapping Career Path through Competency Assessment contd… The Competency Assessment Tool is a basis for assessment and career planning. Mapping Career Path through Competency Assessment contd… Each competency model contains information about professional competencies arranged in four categories. Intermediate Level: Describes the level at which someone with detailed knowledge in an area should be performing. Improvement in organizations. The model is presented as a learning continuum. knowledge and attitude of an employee needed to effectively perform a role in the organization and help the business to meet its strategic objectives. The learning continuum has been divided into three levels viz. Mapping Career Path through Competency Assessment Competency Assessment Tool (CAT) invites one to assess his current professional competencies. Summary of the Chapter Training Needs Assessment . It helps to evaluate the proficiency level in their competencies.. Implementing the Competency Model The person responsible and the team for implementing this Competency Model would need – To get the support from the management to carry out this entire study. which means it is relevant for individuals currently in industry who wish to remain there or for those planning to move to an industry position. To know how to implement individual development plans i. concepts and methods for developing competency-based curriculum plan. Learning strategies and medium for competency-based interventions.e. Designing and developing competency-based learning in Interventions. To identify competencies and create a model of competency-based performance. Advanced Level: Describes the level at which someone with mastery of a skill should be performing. Leadership qualities. Specific skills. It suggests a variety of traditional and non-traditional learning activities to develop the required competencies. The model lists the relevant skills or competencies for each level of employees in an organization as a learning continuum. Implementing the Competency Model contd… To know how to use Individual Competency-based Assessment. Expertise. It allows to target specific competencies for development. Competency Model contd… Basic Level: Describes the level at which someone new to a skill or attribute should be performing. intermediate and advanced level.

Competency Mapping .