A Primer In Entrepreneurship Essay

2413 words - 10 pages

A primer in Entrepreneurship

Prof. Dr. Ulrich Kaiser Institute for Strategy and Business Economics University of Zurich

Spring semester 2008

Chapter 1: Introduction to Entrepreneurship
Table of Contents
I. II. Introduction to Entrepreneurship p p Changing Demographics of Entrepreneurs

III. Entrepreneurship’s Importance IV. The Entrepreneurial Process

University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser

A primer in Entrepreneurship Spring semester 2008 2

1

I.
A.
1. 2. 3.

Introduction to Entrepreneurship
What is Entrepreneurship?
“Entrepreneur” derives from the French words entre, meaning “between,” and  p ...view middle of the document...

A.

Introduction to Entrepreneurship
What is Entrepreneurship?

Entrepreneurial Firms
Proactive Innovative Risk taking

Conservative Firms
Take a more “wait and see”        posture  Less innovative Risk adverse

University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser

A primer in Entrepreneurship Spring semester 2008 5

I.
B.

Introduction to Entrepreneurship
Why become an Entrepreneur?
Three primary reasons:  1. 1 2. 3. Be my own boss Be my own boss Pursue own ideas Realize financial goals

University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser

A primer in Entrepreneurship Spring semester 2008 6

3

I.
B.

Introduction to Entrepreneurship
Why become an Entrepreneur?
Three primary reasons:  1. Be my own boss: either long‐term ambition to own their own firm or have  1 Be my own boss: either long term ambition to own their own firm or have frustrated working in traditional jobs 2. Pursue their own ideas: some people are naturally alert, and when they  recognize ideas for new products or services, they have a desire to see those  ideas realized 3. Realize financial goals: financial rewards; typically secondary to the first two  (and often fails to live up to its hype)

University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser

A primer in Entrepreneurship Spring semester 2008 7

I.
B.

Introduction to Entrepreneurship
Why become an Entrepreneur in Switzerland?

University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser

Why does “family tradition” rank so low?

A primer in Entrepreneurship Spring semester 2008 8

4

I.
C.
1.

Introduction to Entrepreneurship
Characteristics of Successful Entrepreneur
Passion for the Business The number one characteristic shared by successful entrepreneurs : passion  The number one characteristic shared by successful entrepreneurs : passion for their business; stems from the entrepreneur’s belief that the business  will positively influence people’s lives 2. Product/Customer Focus Keen focus on products and customers stems from the fact that most  successful entrepreneurs are, at heart, craftspeople

University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser

A primer in Entrepreneurship Spring semester 2008 9

I.
C.
3.

Introduction to Entrepreneurship
Characteristics of Successful Entrepreneur
Tenacity Despite Failure a. Because entrepreneurs are typically trying something new, the failure rate Because entrepreneurs are typically trying something new,  the failure rate  associated with their efforts is naturally high b. Developing a new business may require experimentation before success is  attained; setbacks and failures are inevitably; the litmus test for  entrepreneurs is the ability to persevere through setbacks and failures

University of Zurich ISU –...

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