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Summary Entrepreneurship and Innovation 23/24
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Theories of Entrepreneurship and Innovation CollegesWeek 1: The entrepreneurial process & innovation management challenges..................................................3
Lecture 1 (04 sept): The Entrepreneurial Process............................................................................................3
Video clip E&I Lecture 1: 1st Article.......................................................................................................................3
Video clip E&I Lecture 1: 2nd Article......................................................................................................................5
Notes Lecture 1: Introduction to entrepreneurship..............................................................................................8
Discussion Questions............................................................................................................................................8
Lecture 2 (07 sept): Introduction to innovation management and it’s challenges..........................................10
Video clip E&I Lecture 2: 1st Article.....................................................................................................................10
Video clip E&I Lecture 2: 2nd Article....................................................................................................................11
Notes Lecture 2: Introduction to innovation management...............................................................................12
Week 2: Social entrepreneurship & Networks in entrepreneurship and innovation.......................................14
Lecture 3 (11 sept): Social Entrepreneurship.................................................................................................14
Video clip E&I Lecture 3: Social entrepreneurship theory explained..................................................................14
Video clip E&I Lecture 3: Social entrepreneurship articles explained................................................................14
Notes Lecture 3: Social entrepreneurship..........................................................................................................18
Discussion questions:.........................................................................................................................................19
Lecture 4 (14 sept): Managing networks in innovation and entrepreneurship...............................................20
Video clip E&I Lecture 4: Network theory..........................................................................................................20
Notes Lecture 4: Managing networks in innovation and entrepreneurship......................................................23
Week 3: Organizational hybridity & Ambidexterity.......................................................................................25
Lecture 5 (18 Sept): Social Entreprises and Organizational Hybridity.............................................................25
Video clip E&I Lecture 5: Social enterprises and hybridity.................................................................................25
Notes Lecture 5: Social Entreprises and Organizational Hybridity.....................................................................28
Lecture 6 (21 Sept): Organizational Ambidexterity........................................................................................28
Video clip E&I Lecture 6: Organizational Ambidexterity....................................................................................28
Notes Lecture 6: Organizational Ambidexterity.................................................................................................34
Week 4: Corporate entrepreneurship & Managing people for innovation.....................................................35
Lecture 7 (25 Sept): Corporate entrepreneurship.......................................................................................... 35
Video clip E&I Lecture 7: Corporate Entrepreneurship.......................................................................................35
Notes Lecture 7: Corporate Entrepreneurship...................................................................................................38
Lecture 8 (28 Sept): Managing people for innovation....................................................................................39
Video clip E&I Lecture 8: Managing people for innovation...............................................................................39
1
, Notes Lecture 8: Managing people for innovation............................................................................................43
Week 5: Crowdfunding & Entrepreneurial financing.....................................................................................44
Lecture 9 (02 Oct): Financing new ventures..................................................................................................44
Video clip E&I Lecture 9: Financing New Ventures............................................................................................44
Notes Lecture 9: Financing New Ventures.........................................................................................................47
Notes Guest Lecture: Jens Heitland....................................................................................................................47
Lecture 10 (05 Oct): Crowdfunding............................................................................................................... 49
Video clip E&I Lecture 10: Crowdfunding...........................................................................................................49
Notes Lecture 10: Crowdfunding........................................................................................................................50
Week 6: Entrepreneurial strategies & Idea management..............................................................................52
Lecture 11 (09 Oct): Entrepreneurial strategies (practicing the theory).........................................................52
Video clip E&I Lecture 11: Effectuation theory explained..................................................................................52
Video clip E&I Lecture 11: Articles explained.....................................................................................................52
Notes Lecture 11: Effectuation theory...............................................................................................................55
Lecture 12 (12 Oct): Idea management......................................................................................................... 57
Video clip E&I Lecture 12: 1st Article...................................................................................................................57
Video clip E&I Lecture 12: 2nd Article..................................................................................................................58
Notes Lecture 12: Idea Management.................................................................................................................58
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,Week 1: The entrepreneurial process & innovation management
challenges
Lecture 1 (04 sept): The Entrepreneurial Process
Video clip E&I Lecture 1: 1st Article.
Main question of this course: How entrepreneurs do what they do?
How do they create innovation?
- According to Shumpeter they do so through the process of creative
destruction.
- Shumpeter created the field of Entrepreneurship and Innovation.
The dominant views before Schumpeter;
- Microeconomics vs. Sociology
- Schumpeter suggested that the truth was somewhere in between.
He introduced the idea of “The individual” in market evolution.
- The market does not consist of homologous individuals who are govern by
market principles, but also not by groups who members are completely
descripted by their group memberships. Instead, market evolution is
driven by extraordinary individuals who we call entrepreneurs who
create innovation through change.
- How do they do that? Through the process of creative destruction.
- Creative destruction: a process where an entrepreneur creates
something new that is better than the old solution and replaces the old
solution. They do it through a recombination of existing resources. The
result is profit. Profit is the reward of the entrepreneur.
Schumpeterian entrepreneurship & innovation (by Sledzik)
Innovation is “a process of industrial mutation, that incessantly revolutionizes
the economic structure from within, incessantly destroying the old one,
incessantly creating a new one”.
Allocating existing resources to new uses and new combinations (better
than older ones).
Creating change through creative destruction
Innovation profit (= reward of the entrepreneur)
The (“FIRST”) theory of Schumpeter
According to Schumpeter, the entrepreneur is a person who “carrying out
innovations (…) which is fundamental in history”. (= connection between
entrepreneurship and innovation).
Why do they do what they do?
The 4 motives of entrepreneurs:
- Profit
- Independence
- Competing
- Joy of creation
What would you add as another possible motive? Do you miss anything
here? added by teacher.
Social causes are not taken in, thus what we maybe can add here;
- The fulfillment of some kind of social issue.
3
, The 4 characteristics of entrepreneurs:
- Intelligent
- Alert
- Energetic
- Determined
4
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