Entrepreneurial Process

Stages:

 Stage-I: Conceptualizing
 Stage-II: Institutionalizing
 Stage-III: Trust Building
 Stage-IV: Refining the Model
 Stage-V: Scaling
 Stage-I: Conceptualizing

Contextual
Personality Factors
Socio-psychological dynamics Factors
affecting at each Outcome
involved at different stages affecting at
stage
each stage
Analytical exposure & Intervention
- Personal
experience of by other
sensitivity Recognition of
problem not adequately stakeholders
- values/mindset gap
addressed Market
- Drive
Dissatisfaction with status quo failure
- Insightfulness
Framing: - Innovativeness Transformative
Redefining the problem - Motive Ambition
- Personality
 Stage-I: Conceptualizing

Personality Contextual
Socio-psychological
Factors Factors
dynamics involved at Outcome
affecting at affecting at
different stages
each stage each stage
Information Gathering:
Identifying target
Availability of Clarity of
customers/beneficiaries, - Observation
primary/ Problem /
clients, actors with - Local
secondary Expected
critical knowledge or knowledge
information change
resources, change
agents
 Stage-I: Conceptualizing
Contextual
Socio-psychological Personality
Factors
dynamics involved at Factors affecting Outcome
affecting at
different stages at each stage
each stage
Counterfactual thinking:
- tendency to create possible
alternatives to life events that
are contrary to what actually
- Innovativeness Availability Crude
happened.
It consist of the "What if?" and - Foresight for of Idea of a
the "If I had only..." future of Reference probable
- Selecting the activity enterprise models solution
set
- How to engage the
target constituencies
 Stage-I: Conceptualizing
Socio-psychological Personality Contextual
dynamics at different Factors at each Factors at Outcome
stages stage each stage
Preliminary Validation
of the Presence of Refined and
hypothesized mentors validated Idea
solutions

Propositional
- Formal
Model
Hypothetical testing training Presence of
Understanding
the concept/model: - High self mentors
of potential
belief
concerns
 Stage-I: Conceptualizing

Socio-psychological dynamics at Personality Factors

Outcome
different stages at each stage
- Innovativeness Innovative
Integrative Thinking leading to
- Entrepreneurial ness
innovative solutions: Preliminary
orientation of the
Concept/ Model/ Hypothesized
- Local Knowledge model/
Product/service unit for initial
- Collaborative concept/
implementation
approach solution
 Stage-I: Conceptualizing

Personality Contextual
Socio-psychological
Factors at each Factors at each Outcome
dynamics at different stages
stage stage
Feasibility Analysis:
-Whether it’s possible?
-Whether I can do it? Opportunity
-Whether it is sustainable? evaluation
-What means are available? . Bases for
-Who could be the resource sustainability
providers and sources of of enterprise
financing?
-Do I really want to do it?
 Stage-II: Institutionalizing

Socio-psychological Personality Factors

Outcome
dynamics at different stages at each stage

- Mission/
Organizational scope
- Defining scope of - Motive
- Core values
enterprise - Personality
- Organizational
- Setting up the milestones - Values
identity
for the achievement of - Entrepreneurial
- Operating model
objective commitment
- Desired impact with
- Goal of doing something - Ability to
timelines
concretely measurable foresee
- Foundation for
- Developing the strategy consequences
legitimacy/
credibility
 Stage-II: Institutionalizing

Socio-psychological Personality
dynamics at different Factors at each Outcome
stages stage
Formalizing the core team
and the organizational set-
up on the basis of the
- Establishment of
needs to be addressed - Egoism:
formal organization
- identity and
- Creation of
Individuals come together, passion
registered entity
pool their resources for
the achievement of the
objective
 Stage-II: Institutionalizing

Socio-psychological Personality Contextual Factors

Outcome
dynamics at Factors at each at each stage
different stages stage
- Availability of
resource
- Networking
Acquisition of - Heterogeneous
ability Creation of
necessary resources resource
- Capacity to infrastructure
and assets providers
improvise
- Collaborative
ventures
Establishing - Networking Managing the
Alliances ability contingencies
 Stage-II: Institutionalizing

Socio-psychological
Personality Factors Outcome
dynamics at different
at each stage
stages
- Personal - Determination of
motivation credibility
Launching a low cost
- Engagement with - Determination of
pilot ‘protoplan’:
the cause what will work
- Leadership skills and what will not
 Stage-III: Trust Building

Socio-psychological Contextual
Personality Factors at
dynamics at different Factors at Outcome
each stage
stages each stage
- Important
- Motives
- Demonstrating influence as
- Intention
positive outcome Godfather
- Networking ability
- Engaging the - Aligned
- Ability to harness
stakeholders community
popular support
leader(s)
 Stage-IV: Refining the Model

Socio-psychological Personality Factors Outcome

dynamics at this stages at each stage
- Learning from meaningful
Revisiting and updating
experimentation
the plausible outcomes
- Building on - Determination of what will work
expeditiously and
experiential - Gradually moving from high
continuously
learning order uncertainty to probable
Re-hypothesizing the
- Goal of doing and manageable risk
business model by
something - Developing unique value
experimenting with as
concretely proposition
many strategies as
measurable - Emergence of final business unit,
possible with the given
revenue & profit drivers
limited means
- Scalable Venture
 Stage-V: Scaling

 Impact

 Partnership & Alliances

 Replication

 Branching
 Impact

Organizational
Basis for Local Resource
structure for Strategy Arrangement
Scaling Autonomy Requirement
Scaling

Independent Dissemi Complete no

Principles Open Source Minimum
entities nation central control
 Impact

Appropriateness Challenges Advantages

- High local - Maintaining Reach more
demand uniformity locations more
- Need is urgent - Lack of training and quickly and at
- Risks are low technical assistance lower cost
 Replication/Franchising

Organizational
Basis for Arrangem Local Resource
structure for Strategy
Scaling ent Autonomy Requirement
Scaling
Loose To a large
Network extent with
Loose
with very little Minimum
Well defined Affiliations
Independent shared central
Programs & values coordination
entities
Best Practices
Significant
Tight
Licensing with central Reasonable
Affiliation
coordination
 Replication/Franchising
Appropriateness
- high local demand
- Need is urgent
- Risks are low
- Likelihood of less
receptivity at local level
- When consequences of
incorrect
implementation are
severe
- When the innovation is
inherently difficult to
execute
Challenges Advantages
- Maintaining Reach more locations more quickly and
uniformity at lower cost
- Ensuring Standard setting
strict Quality control Training & technical
adherence assistance
Program development
Recognized brand
Improved organizational learning
Create more economies of scale
Transfer of intangibles: culture and
knowledge that is based on experience
but difficult to communicate
Likelihood of high-quality impact.
Possibility of improving organizational
efficiency and effectiveness
 Replication/Franchising
Challenges Advantages
Appropriateness
Time Standard setting
- Tight quality control
consuming Quality control Training & technical
- Specific practices
assistance
- Knowledge that is not
Program development Recognized
explicitly
brand
documented
Improved organizational learning
- When consequences
Create more economies of scale
of incorrect
Transfer of intangibles: culture and
implementation are
knowledge that is based on experience
severe
but difficult to communicate Likelihood
- When the innovation
of high-quality impact.
is inherently difficult
Possibility of improving organizational
to execute
efficiency and effectiveness
 Branching

Organizational
Resource
Basis for Scaling structure for Local Autonomy
Requirement
Scaling
Little with
Organizational significant
Branches Highest
models central
control
 Branching

Challenges Advantages
Appropriateness
- Resources Standard setting
- Time Quality control Training & technical
- Strong organizational consuming assistance
culture Program development Recognized brand
- When consequences Improved organizational learning
of incorrect Create more economies of scale
implementation are Transfer of intangibles: culture and
severe knowledge that is based on experience but
- When the innovation difficult to communicate
is inherently difficult Likelihood of high-quality impact.
to execute Possibility of improving organizational
efficiency and effectiveness