Summary Global Entrepreneurship & Business Pre Master Business Administration - boek 3e editie - 2024
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Course
Global Entrepreneurship & Business (202000261)
Institution
Universiteit Twente (UT)
Book
Entrepreneurship in Theory and Practice - Paradoxes in Play, Third Edition
summary for the course Global Entrepreneurship & Business (pre-master Business Administration at the University of Twente/University of Twente).
Chapters 1 to 5, 7, 8, 9, 15 > exam material
Chapter 1
Entrepreneurs; Henry Ford, Bill Gates individual who initiates, strives for and organises
entrepreneurship + pursues and creates entrepreneurship.
The entrepreneurial phenomenon is broad an has many facets. It can be defined as:
emergence of new opportunities which are evaluated and exploited through organising.
,Desire for independence and the need for achievement that drives a potential entrepreneur.
Four traditions of entrepreneurship – historical flashback
1. Economic tradition: creating new products, production methods, new markets,
utilizing new supply sources and the reorganization of an industry creative
destruction
2. Social-psychological tradition: researchers tried to identify the social-psychological
factors of entrepreneurs. eExamples: energetic participation in endeavour,
confidence, desire to be your own boss and need to accomplish.
3. Emerge tradition: emphasises the creation of new organizational structures which
function as a frame for an opportunity related to a specific market demand.
4. Opportunity tradition: focuses on new opportunities as the core of entrepreneurship.
Dominant today? Emergence and opportunity tradition
Opportunity = an idea which is evaluaged as capable of creating value for others.
Construct of entrepreneurship
Opportunity organising: the creation of some meaningful structures that support the
realisation of the opportunity, for instance to collect resources, to coordinate
activities and to involve others to that the wanted output can be obtained.
Opportunity evaluation: the process in which the entrepreneur evaluates to what
extent the idea represent an attractive opportunity.
Opportunity emergence: the process in which the opportuninty emerges led by
individuals who discover or create the opportunity.
Entrepreneurial process: the movement from discovering or creating an opportunity, to
evaluation of the opportunity, to finally exploiting it through organizing. Five themes:
1. Individual
2. Resources
3. Network
4. Business plan
5. Design thinking
Paradox = a conflicting statement which will be introduced in the book as two
conflicting theoretical perspectives.
Perspective = a theoretical approach which represents one of the two statements
that pertain to the paradox
Chapter 2
New opportunities depend on the individual, the entrepreneur. In the later stages of an
opportunity’s life cycle where it is organised, widely known and accepted, does the
entrepreneurial individual play a less significant role: key employees can take over important
tasks.
Venture capital investors often consider the role of the entrepreneur as more important than
the business idea. Are entrepreneurs born or made?
, Types of entrepreneurs:
- Novice entrepreneur; no entrepreneurial experience
- Habitual entrepreneur; previous entrepreneurial experience
- Serial entrepreneur; constantly establishing and selling organizations
- Portfolio entrepreneur; own several organizations simultaneously
- Hybrid entrepreneur; simultaneously self-employed and employed
- Nascent entrepreneur; in the process of considering the establishment of a new
organization
- Intrapreneur; acting entrepreneurially within an existing organization
- Family entrepreneur; owner of a business that is owned and managed by multipe
family members
- Social entrepreneur; sourcing innovative solutions to social and environmental
problems
Gartner’s contingency model
Individual
Environment
Organization
Process
Born Made
Who is the entrepreneur? Special super-individuals All are potential entrepreneurs
Stable over time - once an The entrepreneur is created
Perception of the entrepreneur entrepreneur, always an through a process
entrepreneur
Stimulation Internal character features External factors and individual
Character features attached to The interacting individual and
the entrepreneurial personality contextual factors that create
Research focus
individuals, cognitive processes
and identity
To be able to predict and point To understand the entrepreneur
Objectives out the entrepreneur in the and how an entrepreneur is
crowd created
Born perspective: special individuals who have character traits like being independent, goal
oriented, innovative, intelligent and creative and more. Are traits stable throughout your
life or do they change?
- Entrepreneurs often have parents who are also involved in entrepreneurial activities
(idea of influence of genes).
- Genes combined with environmental might lead to a certain degree influence
behaviors (e.g. autism).
- Bönte et al (2016): showed positive influence of prenatal testosterone exposure on
entrepreneurship intention.
- Results should be taken very cautiously: replication crisis in social sciences (Open
Science Collaboration 2015).
Made perspective: all are potential entrepreneurs which are created through a process.
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