an entrepreneur and leader i dr. zelimir william todorovic associate professor in small business and...
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An Entrepreneur and Leader
IDr. ZŽelimir William Todorovic
Associate Professor in Small Business and Entrepreneurship
Guest Editor, International Journal of Entrepreneurship and Small Business
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Resource-Based View of the Firm
• Basic Assumption
• Types of resources- Tangible resources- Intangible resources- Organizational capabilities- Organizational competencies- Dynamic Capabilities
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Need for Internal Allignment
Management preferences
Organization
Resources
Strategy External Environment
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Continuum of Radical and Incremental Innovations
Exhibit 12.1 Continuum of Radical and Incremental Innovations
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Entrepreneurial Orientation
Dimension Definition
Autonomy Independent action by an individual or team aimed at bringing forth a business concept or vision and carrying it through to completion.
Innovativeness A willingness to introduce novelty through experimentation and creative processes aimed at developing new products and services as well as new processes.
Proactiveness A forward-looking perspective characteristic of a marketplace leader that has the foresight to seize opportunities in anticipation of future demand.
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Entrepreneurial Orientation (cont’d)
Dimension Definition
Source: J. G. Covin and D. P. Sleving, “A conceptual Model of Entrepreneurship As Firm Behavior,” Entrepreneurship Theory & Practice, Fall 1991, pp. 7-25; G. T. Lumpkin and G. G. Dess, “Clarifying the Entrepreneurial Orientation Construct and Linking It to Performance,” Academy of Management Review 21, no. 1 (1996), pp. 135-72; D. Miller, “The Correlates of Entrepreneurship in Three Types of Firms,” Management Science 29 (1983), pp. 770-91.
Competitive An intense effort to outperform industry rivals. It is characterized by a combative posture or an aggressive response aimed at improving position or overcoming a threat in a competitive marketplace.
aggressiveness
Risk taking Making decisions and taking action without certain knowledge of probable outcomes; some undertakings may also involve making substantial resource commitments in the process of venturing forward.
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•Traditional control system
•Based largely on the feedback approach•Traditional approach is sequential•Strategies are formulated and top management sets goals
Ensuring Informational Control
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Ensuring Informational Control
•Contemporary control system
• Interactive relationships between strategy formulation, implementation and control
• Two different types of control
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Behavioral Control: Balancing Culture, Rewards, and Boundaries
•Contemporary approach- A balance between
•Culture•Rewards•Boundaries
•Traditional approach-Emphasizes comparing outcomes to predetermined strategies and fixed rules
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Characteristics of Good Opportunities
AttractiveAttractive
AchievableAchievable DurableDurable
Value Value creatingcreating
Good Business Good Business OpportunityOpportunity
Before launching opportunity as a business•Consider the resources available to undertake it•Consider the characteristics of the entrepreneur pursuing it
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A Leader’s Bases of Power
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A Good Leader….
Successful traits Successful traits of leaders at the of leaders at the highest levelhighest level
Technical Technical skillsskills
Cognitive Cognitive abilitiesabilities
Emotional Emotional intelligenceintelligence
Accounting, business planning, etc.
Analytical reasoning, quantitative analysis, etc.
Ability to work with others, passion for work, etc.
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Portfolio Management
Key
Each circle represents one of the firm’s business units
Size of circle represents the relative size of the business unit in terms of revenue
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Management preferences
Organization
Resources
Strategy External Environment
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