Class notes
Lecture notes
- Course
- Institution
Lecture notes of 10 pages for the course Innovation and Entrepreneurship in context at RU
[Show more]
Seller
Follow
hendriksjanne
Content preview
Introduction lectureWe look at ecosystems: We take into account the increasingly influential effects of being part of a larger system to
avoid a static and disconnected or individualistic approach to innovation and entrepreneurship.
Not one system but rather many interdependent and interlinked systems. We can only study one system at a time.
At the same time it is important to:
Take a systems approach and understand coherent phenomena
Become aware of many different systems that influence IE
Study these systems and understand their inter-linkages.
We use the definition of opportunity structure that relates to the accessibility to and growth potential of markets:
people's access to resources in supporting their business. Set of powerful external social, cultural and economic
structural constraints as well as opportunities. It is shaped by economic factors both on the supply side as
entrepreneurs’ individual characteristics, and on the demand side, such as the presence of an accessible customer
base. Also political-institutional factors such as rules and laws.
Entrepreneurial ecosystem: Opportunity structures are important for entrepreneurs because it points to the degree
to which entrepreneur can access human, social, and financial capital, and determines the extent to which they can
benefit from opportunity structures.
Lecture 2
Entrepreneurship and innovation are interrelated: Innovation is needed for entrepreneurship and creativy is
needed for innovation.
Entrepreneurs evaluate before action takes place. They do not start out of scratch: The examination of how by
whom and with what effects opportunities to create future goods and services are discovered, evaluated and
exploited.
Is there only 1 entrepreneur?
Entrepreneurship can include creation of new organizations and it can alco occur in existing organizations:
intrapreneurship.
What defines an entrepreneur?
Taking initiative
Being flexible
Willing to take risks: calculated risk taking: Most of the entrepreneurs take calculated risks: they know what
they are doing and there is some security
Strong communicator / networking with the environment
Entrepreneurs have to be aware of their competences. So they know what to delegate. Entrepreneurship is not an
isolated issue
Entrepreneurial opportunities: those situations in which new goods, services, raw materials, and organizing
methods can be introduces and sold at greater than their cost of prodcution, and another time, in another form or
in another location.
These are objective, but recognition is a subjective process.
Individual can only earn profit if he recognized opportunity exists value
Why do some recognize opportunities, and others don't?
Information corridors: if you already have some prior experience to identify an opportunity then you are
better prepared and able to see and find those opportunities
Cognitive properties: vision of a good product or service and commercial opportunities, risk taking and
prompt actions.
, When people have more social and financial capital and info from other employment and experience > more likely
to exploit them.
Optimism
Great self-efficacy:
Tolerance for abiguity: being flexible
Most of the tnrepreneurs are small and are not heroic. Entrepreneurship is not always positive. There is also a dark
side. Not every exploitations leads to success. It is not that black and white: No heroic individual that starts a
business
Traditional idea of the entrepreneur: pro-activity, assertiveness, strong internal locus of control, wish for
independence, high need for achievement, risk taking, innovative: a specific type. (If people do not have these
characteristics they might think that they are not ready for entrepreneurship) not true!! People change. We
content that professions can be learned --> role taking and identities differs per social environment
Somewhat bold individual 'hero'
Crititism trait approach (traditional idea):
Not dynamic enough
Role of learning and preparing not enough included
Traits can change, and also many different traits by different authors,
Very few entrepreneurs possess all traits
How to define innovative? what do you find innovative?
Ignores culture, ethnicity, gender and eco-systems
Underlines assumptions capitalism and the protestant work ethics: not applicable in every country (authors
concern US thinking entrepreneurship)
Rather focus on DOING entrepreneurship: How entrepreneurship is done in certain situations and how these
people develop and apply the competences and learn the competences. Doing entrepreneurship relates to
different entrepreneurial identities. You should be aware of other identities and how to use them in
entrepreneurship.
A competence refers to a skill: something you can learn.
Entrepreneurial competence is rooted in someones background. In different stages you will need different
competences.
Entrepreneurial competences differ from managerial competences
Intrapreneurial competences and entrepreneurial competences are overlapping.
Behavioral approach process: contextual event. It is about doing and not about who someone is. It is not fixed--
>role taking
Stereotypical message of entrepreneurship by Donald Trump
What kind of role does he play (impression management): he is very dominant, he throws with big numers, he likes
hisself, he is very confident. He gives the impression that he has a lot of influence. It can be positive that he shows a
lot of confident but is also makes him less approachable. He does not look like he is open to learn things so he does
not look like he needs someone else, while he does.
There are different roles you can play. Entrepreneurs also play different roles. This makes entrepreneurship less
imiditating and unachievable.
Role taking: institutionalised sets of social expectations, fixed ideas of ideal types.
Roles can be taken but often they are learned through:
Sex role & ethnic role socialisation: messages/rewards on how you perform your role; gender-role
stereotyping
Meads role taking: via socialisation taught to play different roles with different sort of groups
Continuous intertwinement of the I (perception of who you are, based on socialisation ideas) and the Me (response
to others, image you want to create (impression management)) = the self, or identity
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller hendriksjanne. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.37. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
56326 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now