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

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Marvin Ryder Assistant Professor, Marketing & Entrepreneurship MBA P715 Entrepreneursh ip 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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Page 1: Marvin Ryder Assistant Professor, Marketing & Entrepreneurship MBA P715 Entrepreneurship Week 2

Marvin RyderAssistant Professor, Marketing & Entrepreneurship

MBA P715Entrepreneurship

Week 2

Page 2: Marvin Ryder Assistant Professor, Marketing & Entrepreneurship MBA P715 Entrepreneurship Week 2

Psychological Triggers for Entrepreneurship1) Need for control – my hours, my locationSeems 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

Page 3: Marvin Ryder Assistant Professor, Marketing & Entrepreneurship MBA P715 Entrepreneurship Week 2

Psychological Triggers for Entrepreneurship - Continued4) Need for money – earn more money, keep more

of what one earns for others5) 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

Page 4: Marvin Ryder Assistant Professor, Marketing & Entrepreneurship MBA P715 Entrepreneurship Week 2

The Genesis of Entrepreneurship

Entrepreneur Perception ofOpportunity

ConsumerDemand

IndustryStructure

EnvironmentalTrends

VentureCreation

Window ofOpportunity

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

Page 5: Marvin Ryder Assistant Professor, Marketing & Entrepreneurship MBA P715 Entrepreneurship Week 2

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

Page 6: Marvin Ryder Assistant Professor, Marketing & Entrepreneurship MBA P715 Entrepreneurship Week 2

Entrepreneurial Work EnvironmentLeadership Style Autocratic/DirectiveDecision-making Centralized/no delegation

Impulsive/little conscious planningOperating and strategic decisions have equal importance

Time Horizon Short – one day, one week, one monthPower Close to the entrepreneurWorkplace climate Highly uncertain/poor information flowsCorporate Structure

Lack of formal organization chart“Spider web” structure

Infrastructure Lack control & information systemsFew standard procedures & rulesLarge horizontal span of control