1. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-1 Management and Entrepreneurship 6

2. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-2 OBJECTIVES 1. An understanding of the three stages of entrepreneurship 2.An overall appreciation for the opportunity concept and an understanding of the primary types of entrepreneurial opportunities 3.An ability to distinguish between opportunity identification, evaluation, and exploitation

3. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-3 OBJECTIVES 4.Insights regarding the various types of financing available to entrepreneurs 5.An appreciation for how existing organizations use corporate entrepreneurship 6.An understanding of and appreciation for the role of social entrepreneurship in society

4. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-4 Entrepreneurship Entrepreneurial Opportunity Entrepreneur Fundamentals of Entrepreneurship

5. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-5 Fundamentals of Entrepreneurship

6. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-6 Fundamentals of Entrepreneurship

7. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-7 Types of Opportunities Opportunities

8. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-8 Opportunities

9. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-9 Opportunity Identification – Entrepreneurial alertness – Information asymmetry – Social networks – Means-ends relationships Opportunities

10. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-10 Opportunities

11. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-11 Opportunity Evaluation – Feasibility analysis – Entrepreneurial risk – Downside loss – Law of small numbers – Illusion of control Opportunities

12. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-12 Opportunity Exploitation – Exploitation – How entrepreneurs decide Opportunities

13. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-13 Opportunities

14. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-14 Financing Exploitation – Angel investors – Venture capitalists – Bank financing Opportunities

15. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-15 Corporate entrepreneurship – Sustained regeneration – Organizational rejuvenation – Strategic renewal – Domain definition Corporate Entrepreneurship

16. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-16 Commercial Entrepreneurship Social Entrepreneurship Social Value Social Entrepreneurship

17. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-17 How Do Commercial and Social Entrepreneurs Differ? – Mission or purpose – Availability of resources – Performance measures Social Entrepreneurship

18. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-18 Success Factors in Social Entrepreneurship – Social networks – Capital bases – Public’s acceptance Social Entrepreneurship

19. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Copyright © 2014 Pearson Education, Inc. 6-19