Download - Opportunity recognition
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How Business Management benefit from
Entrepreneurship
Opportunities recognition
Matthijs HammerSenior lecturer Entrepreneurship
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Evolution of Business models
majority of the business management models stay unchanged. E.g.:•Abell (Abell &Hammond, 1979)
•Deming (Deming, 1982)
•Mc Gregor (McGregor, 1960)
•Mintzberg (Mintzberg, 1979)
•Porter (Porter, 1980)
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new ventures, small businesses andentrepreneurship are a major factor on economic growth (Ahmad &
Seymour, 2008; Gries & Naudé, 2009; Schumpeter, 1934; Sijgers, Hammer, ter Horst, Nieuwenhuis, & van der Sijde, 2005; Thurik & Wennekers, 2004; Wennekers & Thurik, 1999).
Evolution on economic development
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Example
See possibilities Tackle opportunities
Know where to find it.
Successful applicatio
n
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• 0• 2• 4• 6• 8• 10
O.K.
Not O.K.
Item Figure PerceptionItem Figure PerceptionData
Knowledge
Information
Competent Behaviour
Sense
Innovative
• 3• 5• 8• 10
Source: N. Vloon, 2002
Can successful apply
Successful application resulting in competitive advantage.
Perception from Perception from industryindustry
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Knowledge / Application ?Knowledge / Application ?
CanKnow
Weight in the curricula
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Principles of effectuations
decision making heuristics learned by expert entrepreneurs in uncertain, disruptive situations
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Means. The basis for decisionsand new opportunities:
– Who I am– What I know– Whom I know
Goals vs meansGoals. Given (based on predictions)
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Affordable Loss. Calculate downside potential and risk no more than you can afford to lose.
Risk, Return and Resources
Expected Return. Calculate upsidePotential and pursue the(risk adjusted) best opportunity.
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Partnership. Build your “future” together with customers, suppliers and even prospective
competitors.
Attitude toward othersCompetition. Set up transactional
relationships with customers andsuppliers.
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Surprise
• Leverage Surprises.Surprises can present new opportunities.
• Avoid Surprises.
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Underlying logic & what to do
To the extent we can predict the future, we can control it.
PLAN
To the extent we can control the future, we don’t need to predict it.
CO-CREATE
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Difference in development
Falcon
GooseGoose
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Conclusion
The adoption of an entrepreneurial approach of the learning process and the knowledge of entrepreneurial methodologies as effectuation seems to be practical aspects to start.
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Thank you for your attention
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