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Entre.pre.neur: A person who makes money by starting or running a business, especially when
this involves taking financial risks.
Entrepreneurship – noun

2. “Entrepreneurship have NO frontier other than their own ambitions. Robert Heller

3. “Every thing is always impossible before it works. That is what entrepreneurs are all about
doing what people have told them is impossible.” R. Hunt Greene

4. The Entrepreneurial Organization.

1. Small Staff
2. Loose division of labor
3. Little management of hierarchy
4. Informal
5. Power focused on the chief executive

5. Entrepreneurial Strategy
The strategy exists in the mind of the Chief Executive as a feeling for the long term direction of
the organization. Strategy takes place at best only half consciously.

6.
Negative strategy development is presented as a process that is “wrapped up in” the behavior of a
single individual.

Positive: Businesses profit from the firm sense of direction and the high degree of integration
and definition provided by this approach

7. UNCERTAINITY
“When a decision has more than one possible outcome and we do not know the likelihood of each
outcome, it may be called a “problem” under conditions of uncertainty”.
Example: Growth of population in Pakistan during next 20 years:
 Low growth Likelihood?
 Medium growth Likelihood?
 High growth Likelihood?
Uncertainty Is it our ally or enemy?
 It may cause us to freeze?
 It may cause us to quit?
 It may cause us to loose our hopes?
OR
 It may bring our attention to new opportunities? And we can exploit them with speed and
confidence.
Example:
 1974 Indian Atomic Bomb blast in Pokhran
 1971 Fall of East Pakistan
10. Successful industrial managers will learn to master uncertainty through the skills of
entrepreneurial leadership

11. How do they do that?

1. Setting up the work climate

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2. Orchestrating opportunity seeking
3. Moving particular venture forward personally.
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Climate Setting:
o Create a sense of urgency for everyone to work on new business
initiative
o Dedicate a “disproportionate” share of your time
o Attention
o Discretionary resources to finding and supporting new business
models
2) Orchestrating opportunity seeking:
Remove uncertainty from staff by clearly specifying what type of entrepreneurial opportunities
are wanted. “Ball parking.”
Exp: A Swedish CAD / CAM entrepreneur with a slogan of “50 to the power of 4.” was
looking for an opportunity / proposal that:

o Had the potential to deliver 50 million Swedish Kroner in profit.

o Capture 50% market share
o 50% margins in
o 50 countries

This gave employees a scope, kept them focused on such opportunities.

It defines your goals
The goals push you and your team to take initiatives which really make difference.

Two parts of Framing

A. Definition of Success
1. If you were to do something in the next three to five years, that you, your boss and your
company would regard as a major win, what would this look like?
2. What is the minimum amount of profit you need from your new venture (at maturity) to
make a difference to your business
3.
3. What rate of growth you must sustain?
4. What is the increase of profitability you need to achieve in the next three to five years?
5. What ROI (Return On Investment) you are seeking?
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B) Strategic Direction
 Establish screening criteria to be consistent with your ballpark definition
1. What were the least desirable businesses that you have been involved with? What
characteristics, made them undesirable? What does this tell you about areas to avoid in
future?
2. What made a particular opportunity very rewarding for you? What does this tell you about
areas to pursue in the future.
Screen- in statements: represent characteristics that can be described
as “The more the merrier” i.e. the more of these characteristics the more attractive the
opportunity.
Exp: this is an attractive market in which we already have a strong position.

Screen - out statements: the less needed characteristics of the opportunity. Any proposal with
screen – out criteria should result in “Dropping it dead.”
Exp: the opportunity would consumed too much time of our key people.

 Considering “Definition of Success” and strategic criteria - make 10 screen – in and 10

screen – out statements about any opportunity / proposal.
 Let your staff and management agree on these statements
 Decide “desired” and “not desired” types of business opportunities
 Develop a scorecard to provide a score criteria
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Entrepreneurial Leadership
 Assume that you are self employed
 Feel you are playing an important / critical role in the organization
 Behave as if you are taking the risk to loose money
 Assume that you will receive the profit if it is made
 Treat each mistake as if it were a significant error.