Entrepreneurial Management

The Entrepreneurial Management Unit strives to raise the level of academic work in the field of entrepreneurship, in methodological rigor, conceptual depth, and managerial applicability. We also strive to improve the odds of entrepreneurial success for our students and for practitioners worldwide. Because it is such a complex phenomenon, entrepreneurship must be studied through multiple lenses. We use three.

The process of entrepreneurship - We seek to understand the processes of entrepreneurial activity in start-ups and established firms by examining the antecedents and consequences of various forms of entrepreneurial opportunity identification and opportunity pursuit for individuals, organizations, and industries. We see experimentation and innovation in products, services, processes, and business models as central to entrepreneurial activity. The finance of entrepreneurship - We seek to understand the financing of entrepreneurial ventures by studying the antecedents and consequences of entrepreneurial funding decisions both domestically and internationally. The context of entrepreneurship - We seek to understand the ways in which entrepreneurs both respond to and shape the context in which they operate, by examining the history of entrepreneurship across time and national borders and by analyzing the legal and cultural contexts for managerial action.

Class Participation The essence of entrepreneurial management is a willingness to make decisions on the basis of imperfect and limited data, and despite great risk and uncertainty, to have the courage and boldness to carry out proposed actions. In the end, goals, targets, and ideas must be converted into actions, which requires convincing others. Consequently, the classroom should be a considered a laboratory where you can test your ability to convince your peers of the value of your ideas. Clearly, you must participate in class if you are going to share your ideas with others. Yet there is no need to speak in every session. Some of the best contributors participate far less often than the most active speakers. Though less vocal, their thoughts are truly insightful and persuasive. The issue is primarily one of quality, not quantity. In a typical session, two students will be asked to start the class by answering a specific question or discussing a specific issue. Case preparation, which includes careful thought about the assignment questions and the associated readings, should be sufficient to handle such lead-off responsibilities. After a few minutes of initial analysis, we will then open the discussion to the rest of the class. While there are many ways to effectively prepare for class, every student is responsible for having a plan of action for the case protagonist, be it an individual or an entire organization. Action plans answer three questions: (1) Whats going on?; (2) What do we do next?; and (3) How do we make it happen?

Shown below is a description of how I will calibrate your class contributions: 4 Outstanding contributor. In-class contributions reflect exceptional preparation. Ideas offered are always substantive, and provide one or more major insights as well as direction for the class. Arguments are well supported and persuasively presented, and reveal that this person is an excellent listener. Comments invariably help others to move their thinking to a higher plane. If this person were not a member of the class, the quality of our discussions would be greatly diminished. Good contributor. In-class contributions reflect thorough preparation. Ideas offered are usually substantive, and provide good insights and sometimes direction for the class. Arguments are generally well supported and often persuasive, and reveal that this person is a good listener. Comments usually help others to improve their thinking. If this person were not a member of the class, the quality of our discussions would be diminished considerably. Adequate contributor. Contributions reflect satisfactory preparation. Ideas offered sometimes provide useful insights, but seldom offer a major new direction for discussion. Supporting arguments are moderately persuasive. Comments occasionally enhance the learning of others, and indicate that this person is a passable listener. If this person were not a member of the class, the quality of our discussions would be diminished somewhat. Unsatisfactory contributor. Contributions in class reflect inadequate preparation. Ideas offered are seldom important, often irrelevant, and do not provide insights or a constructive direction for the class. Integrative comments and higher-order thinking are absent. This person does very little to further the thinking and potential contributions of others. Non-participant. The person has said little or nothing in this class to date and so has not contributed anything. Such persons are free-riders because they have benefited from the thinking and courage of their peers but have offered little in return. If this person were not a member of the class, the quality of the discussion would be unchanged or possibly improved.

The real time to start with managing as an addition to the entrepreneurial spirit in the business is when some of this indicator appear:

Business start to growth. Business has more employees. There is a need for motivation. There is a need for controlling. There is a need for rules. There is a need for staffing. There is a need for organizing.

10 Steps to Entrepreneurial Management

Here are 10 steps that is needed to implement entrepreneurial management: Step 1: Discover real time to start with managing. Step 2: Start with delegating tasks that was not important for business growth. Step 3: Start thinking as a manager.

Step 4: Make rule books. Step 5: Start with organizing. Step 6: Make a controlling system. Step 7: Measure efficiency and effectiveness. Step 8: Stimulate innovation not only from you but also from all employees. Step 9: Think about strategies and plans. Step 10: Focus on changing and managing in the same time.