Summary Entrepreneurship - Entrepreneurship in theory and practice, 2nd edition (Nielsen, Klyver, Evald & Bager)
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Course
Entrepreneurship
Institution
Universiteit Twente (UT)
Book
Entrepreneurship in Theory and Practice
Elaborate summary of the book Entrepreneurship in Theory and Practice - paradoxes in play, 2nd edition. Can be used for the Entrepreneurship course of the second year (second module, called Module 6 INN-ENT) of the International Business Administration program at the University of Twente. Contains ...
Entrepreneurship summary
Entrepreneurship in theory and practice – paradoxes in play, 2nd edition by
Suna Løwe Nielsen, Kim KLyver, Majbritt Rostgaard Evald and Torben Bager
,Index
- Chapter 1
- Chapter 2
- Article: Why the lean start-up changes everything
- Chapter 3
- Chapter 4
- Chapter 10
- Article: What do prototypes prototype?
- Article: Challenges of doing empathic design: experiences from industry
- Chapter 5
- Chapter 6
- Chapter 8 (not needed for the exam)
- Chapter 7
- Article: Deal sourcing and screening
- Article: Crowdfunding
- Article: Chapter 9 International entrepreneurship and growth from Enterprise:
Concepts and Issues
,CHAPTER 1 – WHAT IS ENTREPRENEURSHIP
Elevator pitch = a short sales pitch or oral monologue from one person to one or more
people, where a given theme is introduced in the timespan of an elevator ride
Entrepreneur/intrapreneur = the individual who initiates, strives for and organizes
entrepreneurship
Entrepreneurship in the labour market
1. More free agents
2. More frequent switching between jobs
3. Faster technological development
4. More choice and more ambiguous job structures
Technological advances = organizations’ products and services constantly become obsolete,
therefore organisations must continually renew themselves and innovate across the board
- New product
- Materials
- Markets
- Technologies
- Processes
Emergence tradition = a tradition within entrepreneurship research that emphasises the
creation of new opportunities which are evaluated and exploited through organizing
Opportunity tradition = a tradition within entrepreneurship research that focuses on the
break with existing structures via emergence of new opportunities
Economic tradition
Types of uncertainty (Knight)
1. When different outcomes in the future exist and are known
Entrepreneur’s role: calculate probabilities and make decisions based on them
2. When the future outcome exists but is now known in advance
3. True uncertainty
True uncertainty = when the future outcome does not exist, and it is therefore not possible
to know anything about it
, New option economic tradition
1. Introduction of new products or quality thereof
2. Introduction of new production methods
3. Opening of new markets
4. Utilization of new supply sources
5. Reorganization of an industry
Social-psychological tradition
Literature faded away having been subject to criticism on main fronts
1. Studying individual personality traits
2. Psychological perspective has led to such a wide range of traits and factors,
entrepreneur has been presented as an ‘Everyman’
3. Studies did not make it possible to empirically identify the entrepreneur’s
personality in the crowd
Emphasis on: relationships between people rather than on the individual
Emergence tradition
What distinguished entrepreneurs from non-entrepreneurs: the fact that entrepreneurs
form new organisations
Entrepreneurship = a process of organisational formation
Opportunity tradition
Entrepreneurship = discovery, evaluation and exploitation of opportunities to introduce new
goods and services, ways of organizing, markets, processes and raw materials
Entrepreneurial activities = involve creativity and have the potential to change the existing
economic market conditions
Gestation/discovery phase = the period before start-up
1. Potential entrepreneurs
2. Nascent entrepreneurs
Potential entrepreneurs = the time when the idea arises and is being explored
Nascent entrepreneurs = taking concrete steps to start the business without it actually being
launched
Early stage phase = the period just after launching
Nascent = the entrepreneur in the period before the starts
Owner-manager = the entrepreneur after starting up
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