Introduction to EntrepreneurshipFM20731 – Executive Leadership
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Website: http://www.planetminkoff.com
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MBA in 2001
Went “public” in 1995
Ceased operations in 1997
Company was sold
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without regard for
Entrepreneurship: a way of thinking, reasoning, and acting that is:
opportunity obsessed
holistic in approach
and leadership balanced
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Assume that the answer is YES:
then we can identify the main characteristics
if we have them, fine - no others need to apply!
we could start spotting talent in kindergarten
we could "stream" these people
we could discourage people without these talents
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would be a "profession" like law or medicine
companies could establish "nurseries" for them
government "incubators" would be successes
The real answer lies somewhere in-between
Talent and education is the way
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Hard work
Nurturing quality
Reward orientation
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Organization
Profit orientation
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In Europe it is a major set-back
U.S. expected (required even!)
“Our” System:
But, there are no "rules" that ensure success
Universally, entrepreneurs shake off failure!
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Some find it easy to blame someone else
In public, always optimistic
Willingness to disregard the rules
Start from first principles.
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Classic Entrepreneurship:
The Startup
Raw startup company—an innovative idea that develops into a high growth company
Qualities of a startup company
Strong leadership from the main entrepreneur
Complementary talents and outstanding teamwork of team members
Skill and ingenuity to find and control resources
Financial backing to chase opportunity
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Commitment and determination
It is opportunity/market driven
It is driven by a lead entrepreneur and an entrepreneurial team
It is resource parsimonious and creative
It depends on the fit and balance among these
It is integrated and holistic
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Business Plan
At the right time,
20%: Midterm Exam
A third absence = an additional grade drop
Four absences = Failure
2 lates and/or early departures = 1 absence.
I WILL FAIL YOU IF I HAVE TO!
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OK if it rings
I don’t expect you to remember to turn it off
BUT!
Don’t step into the hall to talk
Also
Read Chapter 12: Franchises & Other Alternatives
October 12
Recognizing Opportunities