Entrepreneurial and Intrapreneurial Mind PDF

Week 10-11 THE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND  Explain the aspects of the entrepreneurial process Identify the general characteristic of an entrepreneur. Explain the differences between entrepreneurial and managerial domain. STAGES...

Week 10-11 THE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND  Explain the aspects of the entrepreneurial process Identify the general characteristic of an entrepreneur. Explain the differences between entrepreneurial and managerial domain. STAGES OF ENTREPRENEURIAL PROCESS Source: https://barrazacarlos.com/entrepreneurial-process-stages/ ENTREPRENEURIAL PROCESS – involves finding, evaluating, and developing an opportunity by overcoming the strong forces that resist the creation of something new STAGES OF ENTREPRENEURIAL PROCESS Source: https://barrazacarlos.com/entrepreneurial-process-stages/ Remember: What market need does it fill? What personal observations have you made? What are the underlying social conditions? Examine the market research data. Assess competition. Any patents? Where is the money to be made? Management vs. Entrepreneurial Decision Making Basis Entrepreneurial Managerial Decision Decision Making Making Definition An entrepreneur is a person A manager is an employee of who creates something new the entrepreneur who and assumes the risks and performs all managerial rewards associated with that functions for the innovation. entrepreneur’s enterprise. Strategic The entrepreneur’s strategic Administrative domain and orientation depends on his or executing the strategies set. orientation her perception of the opportunity. The main motive of an The main motive of manager Motive entrepreneur is to start a is to render his service in an venture by setting up an enterprise already set up by enterprise someone else. An entrepreneur is the owner A manager is a servant in the Status of the enterprise. enterprise owned by the entrepreneur. Management vs. Entrepreneurial Decision Making Entrepreneurial Managerial Decision Basis Making Decision Making Risk Bearing An entrepreneur A manager does not assumes all risks and bear any risk involved uncertainty involved in in the enterprise. running the enterprise. Rewards An entrepreneur gets A manager gets a salary as his reward profit as his reward for for rendering his bearing risks. service. Innovation An entrepreneur is an A manager converts innovator. the entrepreneur’s ideas into practice. Qualifications High achievement Sound knowledge in motive, creativity, management theory foresight, risk-bearing and practice. ability and so on. Activity: 5-minute Pause Identify the images in the next slide. Discuss the difference between the personalities. Steven Tan Bernard Vicent Dy President President SM Supermalls Justo Alano III Ayala Corporation President Jollibee Philippines  INTRAPRENEURS INTRAPRENEURSHIP A person within a large Entrepreneurship within an corporation who takes direct existing business structure. personal responsibility for turning idea into a: The process begins by Profitable establishing an Finished product intrapreneurial culture. This Through: innovation and refers to instilling the entrepreneurial spirit in an assertive risk taking existing organization in order to innovate and grow.  Characteristics of an Intrapreneur 1. Often operates on the frontiers of technology so understands multiple aspects of the environment. Has a vision 2 Possess flexibility, problem solving skills and uses a. multi-disciplinary approach. 3 Encourages open discussion and teamwork.. Builds a coalition supporters. 4. 5 https://turbo.intuit.com/blog/relationships/what-is-intrapreneurship-5811/. According to Deloitte, 88% of Fortune 500 companies in 1955 are no longer present in 2015. The problem of company getting big is that things cannot be handle. Why is it important to Build an Intrapreneurial Culture?  Establishing intrapreneurship in an organization 1. Secure commitment by top, upper and middle management. Identify ideas and general interest areas. 2 Use technology for greater flexibility. Use a group of interested managers 3 Get close to the customers. 4. 5 https://turbo.intuit.com/blog/relationships/what-is-intrapreneurship-5811/. Benefits of having an Intrapreneurship Culture For sustainability Smooth running business areas that can increase profits. Captivating and keeping the most entrepreneurial and innovative employee. New projects or business model can generate new source of income. Increases participation and cooperation within the company. Preparing your company to be more nimble, energetic, and equipped for change. References: https://www.slideshare.net/Managewell/intrapreneurial-mindset Marketing 91. https://www.youtube.com/watch?v=NrwoE0WEpGc