marvin ryder assistant professor, marketing & entrepreneurship mba p715 entrepreneurship week 2

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Psychological Triggers for Entrepreneurship - Continued 4)Need for money – earn more money, keep more of what one earns for others 5)Need to exploit an opportunity – take advantage of something that others are missing 6)Need for status/achievement – be an example to others, continue a family tradition Note: many entrepreneurs face life-long battles with low self-esteem – Entrepreneur’s paradox Source: Doss, Mazzarol, Volery – Triggers and Barriers Affecting Entrepreneurial Intentionality, 1997

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Marvin Ryder Assistant Professor, Marketing & Entrepreneurship MBA P715 Entrepreneurship Week 2 Psychological Triggers for Entrepreneurship 1)Need for control my hours, my location Seems to be disproportionately important: Middle child; moved frequently; rebellious, impulsive; perceived rejection by others; difficulty with authority 2)Need for creativity realize a dream, use my talents, do something interesting 3)Need for employment no job opportunities to match perceived skill set Psychological Triggers for Entrepreneurship - Continued 4)Need for money earn more money, keep more of what one earns for others 5)Need to exploit an opportunity take advantage of something that others are missing 6)Need for status/achievement be an example to others, continue a family tradition Note: many entrepreneurs face life-long battles with low self-esteem Entrepreneurs paradox Source: Doss, Mazzarol, Volery Triggers and Barriers Affecting Entrepreneurial Intentionality, 1997 The Genesis of Entrepreneurship Entrepreneur Perception of Opportunity Consumer Demand Industry Structure Environmental Trends Venture Creation Window of Opportunity Barriers: 1) Lack of personal or financial capital 2) Compliance costs taxes, fees, training 3) Hard reality start-up too difficult, too much risk, window too small Types of Business Start-ups Product innovators Hewlett-Packard, Ron Popeil, Bill Gates Solo, self-employed entrepreneurs plumber, consultant Resource exploiters real estate developer, mining company Economy-of-scale exploiter discount or big box store Workplace/workforce support temp agency, machine shop Takover artists buy a company and grow it John Y. Brown and KFC Capital aggregators T. Boone Pickens, Ross Perot, Warren Buffett Market speculators Franchise entrepreneurs Entrepreneurial Work Environment Leadership StyleAutocratic/Directive Decision-makingCentralized/no delegation Impulsive/little conscious planning Operating and strategic decisions have equal importance Time HorizonShort one day, one week, one month PowerClose to the entrepreneur Workplace climateHighly uncertain/poor information flows Corporate StructureLack of formal organization chart Spider web structure InfrastructureLack control & information systems Few standard procedures & rules Large horizontal span of control