Entrepreneur

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What is an Entrepreneur? Meaning.

Entrepreneurs are innovative persons having a low level of risk avoidance. They even have an 'appetite' for risk:

• Entrepreneurs start a new business. This is intrinsically a risky venture.
• They look for opportunities, which are always uncertain.
• A new company normally has a strong focus on being successful from a financial perspective. To be financially successful, risk has to be taken. On the other hand, if too much risk is taken (shareholder) value can also be destroyed.
• Entrepreneurs need to find a trade-off between risk and return.

Three Theories to Characterize Entrepreneurs

1. An entrepreneur is someone who starts and organizes a business or a company (functional theory).

2. Typical attributes or orientation of such an individual are: innovative, initiative, creativity, assuming financial risk, problem solving, visionary / strategic, seeing a Strategic Window, strong belief in their idea, optimism, engaging uncertainty, achiever, hard worker, leadership, accepting responsibility (supply theory).

3. The demand theory holds that entrepreneurs mostly emerge out of the combination of entrepreneurial opportunities and people who are well-positioned to take advantage of them. Thus, anyone who encounters the right conditions might become an entrepreneur, if they find themselves in a position where they find a valuable problem that they alone can solve.

What is an Entrepreneurial Organization? Meaning.

An entrepreneurial organization could therefore be described as a company or agency that:

1. Has recently started. Compare: Business Incubator.

2. Displays the same attributes or orientation as an entrepreneur. Can-do attitude, is proactive, engages heavily in product innovation, is Agile, undertakes risky ventures, keen on achieving First-mover Advantage and short Time to Market, has a Flat Organizational Structure. Compare: Organization Chart.

3. Is in a Competitive Environment offering entrepreneurial opportunities.

Entrepreneurial behavior can be stimulated by Incentives. The philosophy that focuses on stimulating individual employees to act in an entrepreneurial way is referred to as Intrapreneurship.

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Information Sources Various sources of information regarding Entrepreneurship. Here you will find powerpoints, videos, news, etc. to use in your own lectures and workshops. Sources and Methods of Financing a Start-up Company or Small Business Finance, Start-up Financing, Small Business, SME, Bootstrapping, Equity Capital, Debt Capital, Venture Capital This presentation elaborates on the methods to finance a start-up company. The presentation includes the following secti... The Influence of Emotions and Moods on Decision-Making and Entrepreneurship Decision Making, Emotional Intelligence, Entrepreneurship, Cognitive Bias This presentation is about emotions in decision-making, thereby paying specific attention to Emotional Intelligence 1. ... Entrepreneurship: Characteristics and Success Factors Entrepreneurship, Intrapreneurship, Characteristics of an Entrepreneur, Startup Business Presentation about entrepreneurship and Intrapreneurship that includes the following sections: 1. Overview 2. Entrepre... Techniques for Entrepreneurial Thinking Entrepreneurship, Critical Thinking, Creative Thinking, Lateral Thinking, Entrepreneurial Thinking This presentation elaborates on the different types of thinking for successful entrepreneurship. The presentation includ... Establishing an Innovative Social Enterprise Social Entrepreneurship, Entrepreneurial Organization This presentation elaborates on social entrepreneurship and innovation. It includes the following sections: 1. Workshop... Preparing a Feasibility Study Feasibility Analysis This presentation gives an introduction into the concept of idea/business feasibility studies. The presentation consists... Tools for Social Entrepreneurs Social Business Idea Generation, Business Development, Funding, Marketing and Partnerships, Social Business Toolkit This nice toolkit provides many useful tools for social entrepreneurs wanting to establish a social business. It include... Entrepreneurial Finance: Sources Of Funding Financing New Ventures, Start-up Financing, Equity Financing, Debt Financing, Venture Capital, Entrepreneurship Interesting presentation about the financing of new companies, including the following sections: 1. What makes entrepre... Design Thinking for Innovation Innovation, Entrepreneurship, Design Thinking, CSR, Social Entrepreneurship, Social Innovation This presentation is about design thinking and the connection to social entrepreneurship. The presentation includes the ... Introduction to Social Entrepreneurship Social Entrepreneurship, Innovation Presentation that is a workshop about Entrepreneurship in the social sector. The presentation includes the following sec... Interview with Richard Branson on Entrepreneurship Entrepreneurship, Starting a Business, Workshops, Trainings Richard Branson on Business: Entrepreneurship is all about painting a picture, creating something really special and ma... Social Enterprises: an EU Political Perspective Social Entrepreneurship, Entrepreneurial Organization, Social Economy Presentation about the social enterprise from a political perspective. The presentation includes the following sections:... Social Entrepreneurship for Sustainable Community Development Social Entrepreneurship, Entrepreneurial Organization Presentation that elaborates on the ways social enterprises can contribute to sustainable community development. The pre... Managing New, Dynamic Workplaces through Employee Engagement Workplace Management, Employee Engagement, Organizational Commitment, Burnout This presentation elaborates on the characteristics of the newer type of workplace, possible reactions of employees and ... Writing a Business Plan for a Social Enterprise Social Enterprise, Innovation, Entrepreneurship, Corporate Social Responsibility This presentation provides information about the business planning involved in entrepreneurship. It includes the followi...

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Compare with: Organizational Configurations  |  Virtual Business  |  First-mover Advantage  |  Second-mover Strategy  |  Feasibility Study  |  Blue Ocean Strategy  |  Competitive Environment  |  Competitive Position  |  Illusion of Control Bias  |  Loss Aversion Bias  |  Disruptive Innovation  |  Innovation Adoption Curve  |  Flat Organizational Structure  |  Entrepreneurial Government  |  PAEI  model  |  Stretch Goals

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This ends our Entrepreneurial Organization summary and forum.