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Lecture 1 Entrepreneurship
Lecture 1 Entrepreneurship
Control Mechanism
Professor Alexander Settles
asettles@hse.ru
Introduction to the Course
• New Venture Creation
– Entrepreneurship / Research on
Entrepreneurship
– Innovation
– Business Planning
– Finance
• Organization Theory and Entrepreneurship
and Innovation
Course Design
• Requirements
– Attendance, Participation and Readings
– Personality Assessment
– Innovation Journal
– Assessment of New Venture or
Entrepreneurial Policy/Action (in Groups)
– Exam
Entrepreneurship
Entrepreneurs
Challenging the Unknown
• Entrepreneurs
– Recognize opportunities where others see
chaos or confusion
– Are aggressive catalysts for change within
the marketplace
– Challenge the unknown and continuously
create the future
Entrepreneurship: A Mindset
• Entrepreneurship is more than the mere
creation of business:
– Seeking opportunities
– Taking risks beyond security
– Having the tenacity to push an idea through to
reality
Corporate Social
Entrepreneurship Entrepreneurship
Trends in Women
Entrepreneurial
Entrepreneurship and Minority
Cognition
Research Entrepreneurs
Global
Entrepreneurial
Entrepreneurial
Education
Movement
Family
Businesses
Common Characteristics of
Entrepreneurs
• Commitment, • Calculated risk taking
determination, and • Tolerance for failure
perseverance
• High energy level
• Drive to achieve
• Creativity and
• Opportunity orientation Innovativeness
• Initiative and • Vision
responsibility
• Self-confidence and
• Persistent problem optimism
solving
• Independence
• Seeking feedback
• Team building
• Internal locus of control
• Tolerance for ambiguity
Outline of the Entrepreneurial
Organization
Imagination
Acceptance
Flexibility
of Risks
Entrepreneurship Theory
• Entrepreneurs cause entrepreneurship.
– Entrepreneurship is a function of the
entrepreneur:
E f (e )
– Entrepreneurship is the interaction of skills
related to inner control, planning and goal
setting, risk taking, innovation, reality
perception, use of feedback, decision making,
human relations, and independence.
Typology of Entrepreneurial Styles
Singapore 1
New Zealand 2
Hong Kong, China 3
United States 4
United Kingdom 5
Denmark 6
Ireland 7
Canada 8
Australia 9
Norway 10
Georgia 11
China 89
Bangladesh 119
Russian Federation 120
Costa Rica 121
Brazil 129
India 133
Innovation Rankings INSEAD 2009