IE-Chapter-1 PDF

 ---Dhirubhai Ambani The Entre preneurial Mind-Set 5 ### The Nature of Entrepreneurship As illustrated in Figure 1.1, the MeMullen-Shepherd modei explains how knowledge and motivation int'1uence two stages of entrepreneurial action. Signals ot' changes...

 ---Dhirubhai Ambani The Entre preneurial Mind-Set 5 ### The Nature of Entrepreneurship As illustrated in Figure 1.1, the MeMullen-Shepherd modei explains how knowledge and motivation int'1uence two stages of entrepreneurial action. Signals ot' changes in the environment t hat represent possible #### Think Structurally observe) elements of the technology opportunities or they engage in bricolage, By *bricolage* we mean thai some entrepreneurs  WAVES OF INTERNET-BASED TECH-ENTREPRENEURSHIP IN INDIA SINCE J 990s =================================================================== ###### FIRST WAVE: 1995-2004 ###### SECOND WAVE: 2005---2010 ###### THIRD WAVE: 2O11---2O15 ###### FOURTH WAVE: 2016-2019 The Entrepreneurial Mind-Set 9  The Entrepreneurial Mind-Set 11 #### Cognitive Adaptability 1. *Comprehension questions* are designed to increase entrepreneurs' understanding of +-----------------------------------+-----------------------------------+ | | Not very much---1 2 3 4 S 6 7 B 9 | | | **10---Very** much like me like | | | me | +===================================+===================================+ | | like me like me | +-----------------------------------+-----------------------------------+ | | like me îlke me | +-----------------------------------+-----------------------------------+ | | | +-----------------------------------+-----------------------------------+ | | like me like me | +-----------------------------------+-----------------------------------+ | | Not very much---1 2 3 4 5 6 7 B 9 | | | 10---Very much like me like me | +-----------------------------------+-----------------------------------+ | | like me like me | +-----------------------------------+-----------------------------------+ | | Not very much---1 2 3 4 ii 6 7 8 | | | 9 10---Very much like me like me | +-----------------------------------+-----------------------------------+ | | | +-----------------------------------+-----------------------------------+ | | like me lihe me | +-----------------------------------+-----------------------------------+ | | | +-----------------------------------+-----------------------------------+ | | | +-----------------------------------+-----------------------------------+ | | like me like me | +-----------------------------------+-----------------------------------+ | | like me like me | +-----------------------------------+-----------------------------------+ | | Not very much---1 2 3 4 lii 6 7 B | | | 9 10---Very much like me like me | +-----------------------------------+-----------------------------------+ | | | +-----------------------------------+-----------------------------------+ | I | understand important relationshi | | | ps. like me like me | | | | | | that is not clear. like me like | | | me | | | | | | when engaged in a given task. | | | like me like me | | | | | | find myself analyzing the Not | | | very much---t 2 3 4 5 6 7 8 9 | | | 10---Very much usefulness of a | | | given strategy while like me like | | | me engaged in a given task. | | | | | | find myself pausing regularly to | | | Not very much---1 2 3 4 S 6 7 8 9 | | | **10---Very** much check my | | | comprehension of the like me like | | | me problem or situation at hand. | | | | | | ask myself questions about how | | | Not very much---t 2 3 4 5 6 7 8 9 | | | 10---Very much well I am dofng | | | while I a m like me like me | | | performing a novel task. I stop | | | and | | | | | | re-read when I get confused. | +-----------------------------------+-----------------------------------+ | I | | +-----------------------------------+-----------------------------------+ | I | | +-----------------------------------+-----------------------------------+ | I | | +-----------------------------------+-----------------------------------+ | *!* | | +-----------------------------------+-----------------------------------+ | I | | +-----------------------------------+-----------------------------------+ 2. Corufe‹ *iivn lv k s* \'are designed to stimulate entrepreneurs to think about the current situation in terms ot\' similarities to a nd dii't?rcnccs from situations prcviously laccd and solved. In other words. these tasks prompt the entrepreneur to tap into his or her kno»\'ledge and experience without overgenerali zing. Generally. connection tastes focus on quest ion s like: How is this problem simil ar to problems I have at ready solved? Why? How is this problem different from 'hat I have already solved? Why? Specific to entmpreneurs, the questions are mure likely to include: How is this new environment similar to others in which 1 have operated\'? How is it different'! How is this new organization similar to the established organizations I haYe managed? How is it different'! The E ntrepreneurial Mind-Set 15  ##### Education ##### Age Role models can also serve in a supportive capacity as mentors during and after the launch of a new  Leoders Are the "Walking Talking" Embodiment of the Efhicel Volues of ===================================================================== ### Eihics Is One of the Orgonizetion's Core Velues: or\\t »izations known for the ethical The Entrepreneurial Mind-Set 21 RESEARCH TASKS -------------- 1. Speak to peo pie from five different countries a nd as k what entrepreneurship means to them and how their national culture helps and/or hinaers entrepreneurship. 2. Ask an entrepreneur about his or ner business today and ask him or her to describe the aecisions and series of events that led the business from sta rtup to its current form. Would you classify this process as causal, effectual, or both? 3. Ask two entrepreneurs and five students (not in this class) to fill out the Haynie-Shepherd "Measure of Adaptive Cognition\" (see Table 1.1). How do you rate relative to the entrepreneurs? Relative to your fel- low students? 4. When conducting a homework exercise for another class (especially a cnse analysis), ass yourself com- prehension questions, connection questions, strategy questions, ano reflection questions. What impact dia this have on the outcome of1he task? 5. What impact does entrepreneurship have on your natural environment? What impact does it hnve on sustaining local communities? Use data to back up your arguments. ### CLASS DISCUSSION 1. List the content that you believe is necessary for an entrepreneurship course. Be prepared to justify your 2. Do you really think that entrepreneurs think effectually? What about yo urself---do you sometimes think effectually? In what ways is it good? Then why are we taught in b usiness classes to always think causally? Are there particular prob lems or tasks in which thinking causally is likely to be superior to effectuation? When might effectuation be superior to causal thinking? 3. To be cognitively flexible seems to require that the entrepreneur continually question himself or herself. Doesn\'t that create doubt that can be seen by employees and financiers such th a\] success actually becomes more difficult to achieve? Besides, although flexibility is a good thing, if the firm keeps changing based on minor changes in the environ ment, the ouyers nre going to become confusecl nbout the nature of the firm. Is adaptation always a good thing?