Management Skills and EntrepreneurshipUnderstanding the Entrepreneurship and its Management Challenges
Managing Human Capital
Lecturer: Mervyn Sookun
Table of Contents
1. Entrepreneur: Definition
1.1 Joseph Schumpeter: "Creative Destruction." 4
1.2 How does anentrepreneur think?5
2. Change: Opportunity or Threat?6
3.1 Porter’s Diamond7
3.1 Sources of Creativity and Innovation9
4. Opportunity: The Porter's Five Forces11
5. PRICING MODELS
5.1 Generic Strategies12
5.2 Bowman's Strategy Clock12
6. Business Plan and its Associate Importance14
7. Finance Management
7.1 Business Angels14
7.2 Venture Capitalist15
8.Operations, Growth and People Management15
8.1 With an eye on progress16
9. Strategic Management
9.1 Game Theory16
9.2 Importance of Blue Ocean17
Any discussion about innovation attracts companies and their ways to compete strategically for leadership. At the same time, there are discussions on the new needs of different professional profiles. The key toorganizational success is increasingly based on individuals, their skills and individual characteristics. Identify and pursue new ways of associating resources and market opportunities is vital responsibility of people to meet the requirement to continuously add more value to the organization.
Innovative ideas are formed through a deep interaction between professionals environments possessconditions that provide creating knowledge. The study of entrepreneurship encompasses the behaviour of individual identification and creation of opportunities, the emergence and growth of the organization, the initiative in forming and processing times organizational. The essence is to perceive and seize new opportunities within the business.
Based on this assumption, and in view of the subjectivity ofthe process entrepreneur, the scope of this study is to analyze the complexity of the natural individual and team involvement in identifying and creating opportunities, stressed in the discussion of the typologies necessary knowledge and relevance in discussion of ways of generating innovation, demanding that by the end individuals a new cast of characteristics that shape their skills.
The entrepreneur is an individual proactive, motivated, who believes in what he does, enjoys it, and is attentive to market opportunities, tolerant, flexible and persevering. Entrepreneur creates contexts appropriate to carry out projects, constantly expands their relationships and adopts an attitude of lifelong learning. It is not necessary to be an entrepreneur to be anentrepreneur. Each can be entrepreneurial in their daily activities, such as student, teacher, professional or even employee (STEVENSON, H. & GUMPERT, D. 1985).
1.1 Joseph Schumpeter: "Creative Destruction."
Each new technology destroys, or at least diminishes, the value of old techniques and marketing positions. The process of creative destruction promotes innovative companies whichrespond to new market demands, enterprises and closes without agility to keep up with changes. At the same time, economic agents guides for new technologies and customer preferences. Economic development is based on three main factors: technological innovations, bank lending and innovative businessman. This innovative businessman is able to undertake a new business, even without owning the capital....