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1、 e to Entrepreneurship and BusinessMaris Farquharson AB374 office hours: Tuesday:10.3011.30amThursday: 1.302.30amTodays lecture Introduce the module what is entrepreneurship and what is business? Examine the module outline in detail Explore different definitions of the entrepreneur WHAT DO YOU THINK

2、 ENTREPRENEURHSIP IS? WHAT DO YOU THINK BUSINESS IS?The Earth from the MoonApril 13th 1970 Apollo 13 Okay, Houston, weve had a problem here. Oxygen tank exploded 3 Astronauts 200,000 miles from home Still on course for the Moon without the power to turnaroundApril 13th 1970 Apollo 13 Okay, lets ever

3、ybody keep cool.Lets solve the problem, but lets not make it any worse by guessing, Flight Director Gene Kranzs initial reactionSolving the ProblemApril 17th 1970 Apollo 13August 2005 Alex Tew had a problemAugust 2005 Prior to starting his degree at Nottingham University Business School he was alrea

4、dy well in debt. Still on course for the University but without the funds to pay.Solving the Problem“after an hour or two of jotting down random things on paper, the idea seemingly popped out of nowhere. Almost like my subconscious mind had been ticking over in the background, working it all out. So

5、 it just kind of happened. Thats about it. I scribbled it down and within about ten minutes a picture of what needed to be done had emerged.” Million Dollar Home Page Apollo 13 Rigorous imaginative creative problem solving Alex Tew Divergent, Entrepreneurial CreativityHow did they do that?This modul

6、e is designed to help you learn how!By the end of this module you will: Understand the importance of Entrepreneurship and Entrepreneurial Creativity Have explored and developed your own entrepreneurial creativity Have invented and presented a new idea or concept that solves the problem that you, wit

7、h your team, have selected Continued Have experienced and applied the Ingenuity creative problem solving process Have developed skills and abilities that can be applied to improve your effectiveness in the rest of your studies and in life outside the curriculum.Why Entrepreneurship and Business?Back

8、ground Growing popularity of Entrepreneurship Education worldwide Why so popular? Skills and attributes associated with successful entrepreneurship are in demandInnovation and the Knowledge Economyuniversities are a focal point for people with the intelligence and imagination to develop solutions to

9、 global and domestic challengesthey can make the links between the development of innovative ideas and the teaching of skills to convert those ideas into commercial success.Department of Innovation, Universities and Skills, 2008 Want more evidence?Management students that focused on entrepreneurship

10、,when compared to those that didnt, were:Three times more likely to start a new businessEarning annual es 27% higher; owning 62% more assetsIf working for someone else, earning 15,000/year moreMore satisfied with their jobsWorking for tech firms in greater numbersMore involved in new product develop

11、ment activitiesEntrepreneurship Education Impact StudyEller College of Business, University of Arizona, June 2000Entrepreneurial Capabilities 1 Imagination Creativity Effective problem solving Vision Alertness Opportunity recognition Knowledge management Risk assessment Initiative Action orientation

12、Entrepreneurial Capabilities 2Managers of:-PeoplePlant and equipmentFinanceSuppliersMarketingKnowledgeEntrepreneurial Capabilities 3Can we learn / teach entrepreneurship?YESNOandCreativity and lateral thinkingEffective problem solvingAlertness and opportunity recognitionInitiativeAction orientationS

13、ome areas may only be encouragedOthers can be learned / taught:- Risk assessment Management Finance Legislation Marketing etc, etc, etcNeedProblemopportunityInnovationImprovementExploitationCONCEPTPre-concept relevancedetermines the quality of ideas generatedPost-concept relevancedetermines the exte

14、nt to which the potential of new ideas is realisedDefineDiscoverDetermineDevelopDesignDeployThe Process of Innovation CostsEntrepreneurship and Business is all about Pre-Concept Its all about INVENTIONThe Challenge of Entrepreneurship Education Two approaches Descriptive explanation students know ab

15、out entrepreneurship Integrative learning through engagement - students entrepreneurial characteristics are enhanced The first approach is easier if there are large numbers, the second approach is more suited to smaller classesWhy Choose the Integrative Approach Knowledge Transfer Explicit TacitKnow

16、ledge Transfer (simplification) Explicit Learn through explanation, description or demonstration Tacit Learn through doing, engagement, experience“We learn to ride a bicycle without being able to tell in the end how we do it”“What the pupil must discover by an effort of his own is something we could

17、 not tell him. And he knows it then in his turn but cannot tell it”Polanyi, 1969:142 Integrative Learning includes tacit knowledge transfer Groupwork Engagement in processes, as part of processes rather than being shown these ReflectionModule Design Lectures Mentored Group work (Academic Services Fa

18、culty Office/ NUBS/ Lecture/Seminar Groups) Coursework - Integrative Learning Barometers ( ) Individual Essay Poster Presentations with Elevator PitchesCourse TimetableSession 1 - Lecture (MF)Why study Entrepreneurship?Introduction to course structure and rationaleDefinitions of entrepreneurship the

19、 main issues of debateSession 2 Lecture (MF) Entrepreneurship and Innovation from Theory to PracticeThe need for invention and innovationThe nature of innovationSome examples a test!Session 3 Lecture (?)Theories of creativity in entrepreneurial contextCreativity in the workplaceCreativity and teamwo

20、rkCourse TimetableSession 4 Lecture (MF)Creative Problem Solving and Effective Decision Making Ingenuity A Guide for Clear ThinkingSession 5 Lecture (?) Sustainability in Business profit, people and planetEntrepreneurship to create sustainable economic, social and environmental valueHas a need been

21、identified?Have relevant factor (environmental, social and economic) been identified?How will business empower others?Will the project create measurable and sustainable impact?Session 5 Group work and Academic mentoringProblem selectionProblem definitionIngenuity guide to clear thinkingFirst Integra

22、tive learning Barometer survey to followCourse TimetableSession 6 Lecture (MF) Non-economic theories of entrepreneurshipPsychologicalSociologicalRead case study 7 Ace Cleaning (UK) Limited:Session 6 Group work and Academic mentoringDivergent thinking and solution generationTowards solution selection

23、Second Integrative learning Barometer survey to followSession 7 - Lecture (MF) Choosing the right idea Solution selectionIntroduction to idea evaluation.What makes for a good idea?Why evaluate innovation?Win and or the Pugh MethodRead case study number 4 Portable Patient Lifts, LLC:Course TimetableS

24、ession 8 Drop in sessions for essay development Evening Lecture (CELE): Pitch and Poster presentations Session 8 Group work and Practitioner mentoringSolution selectionThird integrative learning barometer survey to followSession 9 Lecture Guest SpeakerBring questions about entrepreneurshipSession 9

25、Group Work and Practitioner MentoringSolution selectionForth integrative learning barometer survey to followSession 10 Pitch and poster presentationsCourse TimetableSession 10 Pitch and Poster PresentationsStudent poster presentations - A2 sized poster demonstrating student ideas as well as issues o

26、f implementation. Posters should convince potential investors/customers to want to learn more.ReadingKirkham P, Mosey S, Binks M, (2009). Ingenuity in Practice a Guide for Clear Thinking UNIEI.Westhead, P., Wright, M. and McElwee, G. (2011). Entrepreneurship Perspectives and Cases. Pearson Education

27、 Limited. In addition:Kuratko, D. F. and Hodgetts, R. M. (2004). Entrepreneurship: A Contemporary Approach, Thompson.Wickham, P.A. (2006) Strategic Entrepreneurship, Harlow: Prentice HallDaneels, E. (2004) Disruptive Technology Reconsidered: A Critique and Research Agenda. Journal of Product Innovat

28、ion Management (available on Moodle).Hall, J. K., Martin, M. J. C. (2005) Disruptive Technologies, Stakeholders and the Innovation Value-added Chain: a framework for evaluating radical technology development. Journal of R and D Management (Available on Moodle)Hisrich, R.D., Peters, M.P, and Shepherd

29、, D.S. (2010). Entrepreneurship. McGraw-Hill International Edition.Lumsdaine, E. and Binks, M, (2007). Entrepreneurship, from Creativity to Innovation; Effective Thinking Skills for a Changing World. Trafford Publishing.Assessment Teamwork and Poster Presentation 35% Coursework Integrative Learning

30、Barometer (4) 10% Individual Innovation Essay (2000 words) 55% - deadline before 4:00 pm Friday 25th November 2013. One copy to the Social Science Faculty Office and one to turnitin on MoodleRegistering for the Learning Barometer Go to the ILB website ( ) and register. You will need student ID to re

31、gister. Provide your University email address on the registration form. Only University email addresses will be accepted. Registration opens 10-10-2013 Await the first ILB survey via email and respond. It will be sent out after the first mentoring session. Answer each question as honestly as you can

32、. When finished, click on the submit button. Save a copy of each submission for yourself.Questions?What is entrepreneurship?Adventurism, risk-taking and thrill-seekingKao, 1988Who is an entrepreneur? is the wrongQuestion (Gartner, 1988). Definitions of EntrepreneurshipHis job (is) to locate new idea

33、s and to put them into effect. He must lead, perhaps even inspire; he cannot allow things to get into a rut and for him todays practice is never good enough for tomorrow. (Baumol, 1968, p65).People who explore opportunities for the development of innovations, found businesses and do so from the reco

34、gnition of a socio-economic problem, which they endeavour to resolve through the identification of creative solutions. (Chell, 2008, p1).the scholarly examination of how, by whom, and with what effects opportunities to create future goods and services are discovered, evaluated and exploitedthe field

35、 (of entrepreneurship) involves the study of sources of opportunities; the processes of discovery, evaluation and exploitation of opportunities; and the set of individuals who discover, evaluate and exploit them. (Shane and Venkatarman, 2000, p218) the entrepreneurs tasks are diverse: to see an oppo

36、rtunity; marshal human and other resources necessary to pursue it; and transform the opportunity into a tangible result. Their job description includes creative, operational/managerial, interpersonal, and leadership tasks. (Kao, 1989, P97) Entrepreneurentrepreneur 1. the owner or manager of a busine

37、ss enterprise who, by risk and initiative, attempts to make profits. 2. a middleman or commercial intermediary. from French, entreprendre to undertake - entrepreneurial adj, entrepreneurship n.Richard Cantillon (168?-1734)“Lessai sur la nature de commerce en general”First published 1755Individuals w

38、ho pursue profits under conditions of uncertaintyFarming / AdministrationAnyone who runs a businessJean-Baptiste Say (1762-1832)Treatise on Political Economy (1803)Popularised Cantillon Emphasised that entrepreneurship involvedCoordination and unites all means of productionJudgementPerseverancesuppl

39、y can create demand(The entrepreneur) is called upon to estimate, with tolerable accuracy, the importance of a specific product, the probable amount of the demand, and the means of its production; at one time he must employ a great number of hands; at another, buy or order the raw material, collect

40、labourers; find consumers, and give at all times a rigid attention to order and economy; in a word, he must posses the art of superintendence and administration (Say, 1803)Joseph Schumpeter“Whatever the type, everyone is an entrepreneur only when he actually carries out new combinations, and loses that character as soon as he has built up his business”They have employed existing means of production differently, more appropriately, more adventurously. They have “carried out new combinations”. They are entrepreneursJoseph Schumpeter (1934)Entrepreneuria

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