Beruflich Dokumente
Kultur Dokumente
Inshirah Bawazeer
Jennie Charoenpitaks
Owais Karamat
Dave Boltz
Project Plan and
Presentation Outline
Provide an overview of published research on
entrepreneurship focused on three areas:
Trends in Entrepreneurship
A review of the classics … especially regarding personal
backgrounds of entrepreneurs: personality/experiences
Updating the classics based on changing demographics
and cultural factors.
Based on this research, interview three local IT
entrepreneurs to assess the applicability of the
literature … especially to the field of IT
Analyze interview results and draw conclusions
Presentation Agenda
Entrepreneurship and Trends
Reviewing the Classics
Updating the Demographics
Interviews
Andrew Sobey Jr.
Sanjay Kumar
Wayne Haar
Conclusions
What is Entrepreneurship?
“Entrepreneurship is a human, creative act that
builds something of value from practically
nothing. It is the pursuit of opportunity regardless
of the resources, or lack of resources, at hand. I t
requires a vision and the passion of commitment
to lead others in the pursuit of that vision. It also
requires a willingness to take calculated risks.”
Jeffrey A. Timmons, The Entrepreneurial Mind, as cited by
Lambing and Kuehl, 2000.
Entrepreneurship is flourishing
In 1955, the Fortune Magazine’s 500 list of largest industrial
corporations captured America’s attention. Who had unassailable
positions?
In 1955, there was one small business for every 38 persons.
Collins Orvis F. and David G. Moore with Darab B. Unwalla. The Enterprising Man
Literature Review
However, Liles also cites smaller-sample
studies at Harvard and MIT that yielded a
different view:
“Entrepreneurs were not found to be failures”
“founders had experienced a generally higher
than average level of success in their previous
employment”
“Several had achieved outstanding levels of
achievement”
Literature Review
Using the same data as Collins and Moore, Norman Smith (1967)
hypothesized 2 types of entrepreneurs:
Type I: the Craftsman-Entrepreneur. Blue collar, task oriented
and valued the practical. Successful at one job and then moved
on. Didn’t like big companies but didn’t identify w/unions.
Type II: Opportunistic-Entrepreneur. More often than not came
from a middle class background and often had a father who was a
small businessman. Typically, academically successful. Often a
social leader. Career demonstrated not only technical abilities but
capacity for competent administration. Key: unlike Type I, Type
II’s are adaptable.
Smith, Norman R. The Entrepreneur and His Firm: The Relationship Between Type of Man and Type of Company
Literature Review
Dennis Kimbro (1996) argues that a successful
entrepreneur must have:
mission (being able to take charge)
vision ( the ability to inspire others to action)
passion (an intense commitment and determined
perseverance)
Kimbro, Dennis P. “Mission, Vision and Passion in the Entrepreneur” from Smilor and
Sexton.
Literature Review
Beyond these three most important characteristics, Kimbro
asserts successful entrepreneurs must also have:
a desire for independence
a sense of purpose (including the ability to set challenging yet clear
goals and attain them)
tolerance for uncertainty
perseverance
self-esteem
salesmanship
self-discipline
Finally, Kimbro notes “successful entrepreneurs are ready
to just plain work hard”.
Kimbro, Dennis P. “Mission, Vision and Passion in the Entrepreneur” from Smilor and Sexton.
Literature Review
Peter Drucker states “Entrepreneurship, then, is a behavior
rather than a personality trait”. “I have seen people of the
most diverse personalities and temperaments perform well in
entrepreneurial challenges. To be sure, people who need
certainty are unlikely to make good entrepreneurs”.
There are, however, four requirements cited by Drucker to
entrepreneurial success (ibid. 189):
1. A focus on the market. “You are creating customers”
2. Financial foresight (esp. cash flow/planning capital needs)
3. Building a top management team before necessary.
4. Finding a role for the founder as the business matures.
He notes however a difference between starting a small
business and entrepreneurship.