1. Entrepreneurship Chapter Five McGraw-Hill/Irwin
Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.

2. Entrepreneurship Entrepreneurship
The pursuit of lucrative opportunities by enterprising individuals.

3. Who is The Entrepreneur?
Figure 5.1

4. What Does it Take, Personally?
Commitment and determination
Leadership
Opportunity obsession
Tolerance of risk, ambiguity, and uncertainty
Creativity, self-reliance, and ability to adapt
Motivation to excel

5. Entrepreneurial Strategy Matrix
Figure 5.2

6. Success and Failure Anticipate risk
Consider the role of the economic environment
Utilize business incubators
Realize there are common management challenges
Going public with an initial public offering (IPO)

7. Common Management Challenges
You might not enjoy it
Survival is difficult
Growth creates new challenges
It’s hard to delegate
Misuse of funds
Poor controls
Mortality

8. Outline of a Business Plan

9. Outline of a Business Plan

10. Five Key Factors The people The opportunity The competition
The context
Risk and reward

11. Building Support for your Idea
Clear the investment with your immediate boss
Make cheerleaders who will support your idea
Horse trading for support, time, money, and other resources
Get the blessing of relevant higher-level officials

12. Checklist for Choosing Ideas
Table 5.2

13. Checklist for Choosing Ideas (cont.)
Table 5.2

14. Management Challenges in Intrapreneurship
Failing to foster innovation
Overreliance on a single project
Spread intrapreneurial efforts over too many projects

15. Characteristics of Entrepreneurial Orientation
Allow independent action
Innovativeness
Risk taking
Proactiveness
Competitive aggressiveness