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Summary Global Entrepreneurship and Business Pre-master cours, Book chapters: 1 t/m 5 + 7,8,9
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Global Entrepreneurship and Business Pre-master cours, Book chapters: 1 t/m 5 + 7,8,9 and Lectures 1 t/m 5
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SUMMARY Global Entrepreneurship & Business (GEB) pre-master Business Administration
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✅ Global Entrepreneurship & Business Summary 2021 - All lectures & Book chapters! ✅
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GEB samenvatting boekCh 1 What is entrepreneurship
Cantillon (1680-1734): entrepreneur’s function was to compensate for discrepancies between supply
and demand by buying something cheaply and selling it again at as high a price as possible.
The entrepreneur receives profits as compensation for handling the real uncertainty
Schumpeter (1934) the entrepreneur is an innovator who, by combining existing things, generates
new opportunities and organisations in the economy: he is the main source of development in the
economy.
the opportunity tradition: defines entrepreneurship as: discovery, evaluation and exploitation of
opportunities to introduce new goods and services, ways of organising, markets, processes and raw
materials. ‘change the existing economic market conditions’.
Kroeger (organisation’s overall lifecycle): a) initiation, 2) development, 3) growth, 4) maturity, 5)
decline.
opportunity evaluation: attractive to the market or not.
1. opportunity emergence
2. opportunity evaluation
3. opportunity organising
the process is not linear.
five themes that influence the entrepreneurial process:
1. the individual
2. resources (foundation: human, social, financial)
3. network (knowledge)
4. business plan (planning)
5. design thinking (create/discover/evaluate/organise opportunities)
Ch 2 Who is the entrepreneur?
it is crucial to understand the personality and qualities of the entrepreneur.
born or made?
types of entrepreneurs:
• novice: (no entrepreneurial experience)
• habitual: (with previous entrepreneurial experience)
• serial: (constantly establishing and selling organisations)
• portfolio: (owns several organisations simultaneously)
• hybrid: (simultaneously self-employed and employed)
• nascent: (in the process of considering the establishment of a new organisation)
• intrapreneur: (acting entrepreneurially within an existing organisation)
,The entrepreneur is born
entrepreneurial activity comes from special individuals who have the:
- desire to establish a private kingdom
- will to conquer (prove oneself superior to others)
- joy of creating (getting things done)
Traits: Entrepreneurship Big Five
1. risk-taking propensity
2. need for achievement
3. need for autonomy
4. self-efficacy
5. internal locus of control
But it’s combinations of genes in interaction with the environment that matters.
personality is shaped not only by birth but also that early childhood and demographic factors are
important.
Garner’s (1985) model: shows how the entrepreneurial process is seen as a result of an interaction
between four components:
_ individual(s)
_ environment
_ organisation
_ process
Cognition represents the study of how the mind and our thoughts are organised. it’s about the
entrepreneur’s intellect rather than traits; how he or she understands and what he or she thinks
about what is taking place in their environment and within themselves.
the cognitive approach can be used to understand why some individuals find or create opportunities
and pursue them, while others do not.
Shane (2003): three cognitive characteristics that make entrepreneurs exploit opportunities:
1. more optimistic, therefore have a tendency to seize opportunities despite uncertainty about
the outcome
2. more willingness to generalise, and take big decisions, despite there’s not much information
available
3. use intuition more, inner feeling or belief.
identity: a person’s sense of who he or she is in a setting. A person’s understanding of himself is
constantly changing depending on who the person interacts with and in what contexts he
participates.
that’s why an individual is assumed to have multiple identities.
The individuals process towards entrepreneurship: (foyelle’s individual process model:
1. Indifference: not yet aware of entrepreneurship
2. Propensity: entrepreneurial awakening, stimulates the individual’s interest and desire for
entrepreneurship
3. Intention: develop entrepreneurial intentions
, 4. Action: act as an entrepreneur
5. result of action / the operation (phase 5)
Ajzen’s theory gives us some tools to explain and predict entrepreneurial intention:
• perceived behavioural control: how difficult or simple the individual perceives the
entrepreneurial project
• subjective norms: the extent to which individuals perceive a social pressure to perform of not
perform the entrepreneurial action
• attitude towards the behaviour: the degree to which individuals will choose the
entrepreneurial action, rather than another action.
who will become entrepreneurs is difficult to predict. it depends on the
- circumstances,
- whom we meet,
- life experiences
- opportunity, chance, our needs,
- self-perception,
- knowledge
- and much more.
Ch 3 Emergence of opportunities
opportunity is an idea that is evaluated as being able to create value for others and a market can be
realized. the criteria for the valuation are whether the idea is:
• anchored: bound to a product that creates value for others
• attractive
• right time and place: environment is mature enough
• capable of being done: practically feasible
The less economically developed a country is, the greater the proportion of the population that
believe there are good opportunities for starting a business.
necessity driven rather than opportunity driven, not other sources of income. those businesses are
often less innovative without growth potential.
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