entrepreneurship in action
DESCRIPTION
TRANSCRIPT
![Page 1: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/1.jpg)
© Vlerick Business School
![Page 2: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/2.jpg)
ENTREPRENEURSHIP IN ACTION
Prof. Miguel Meuleman
![Page 3: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/3.jpg)
© Vlerick Business School
![Page 4: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/4.jpg)
© Vlerick Business School
![Page 5: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/5.jpg)
© Vlerick Business School
![Page 6: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/6.jpg)
![Page 7: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/7.jpg)
© Vlerick Business School
Why entrepreneurship in the world?
![Page 8: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/8.jpg)
© Vlerick Business School
The mission of the Vlerick Business School
is to substantially contribute to the
development of management and
entrepreneurship in a Belgian and
international context by carrying out
Academic Research - knowledge creation -
and by offering high quality management
education - knowledge transfer.
Why entrepreneurship at Vlerick?
![Page 9: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/9.jpg)
© Vlerick Business School
Why entrepreneurship in your program?
� Entrepreneur
� What / How
� Other side of the table
� Investor (bank, angel, venture capital)
� Supplier / customer
� Policy maker
� Same side of the table / bed
� Husband / wife / partner
� Friends
� Intrapreneur
� T-manager
� Integration
![Page 10: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/10.jpg)
![Page 11: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/11.jpg)
11
Who of you wants to be an entrepreneur?
In 3 years?In 30 years?
![Page 12: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/12.jpg)
Students’ interest in entrepreneurship
7%
12%
10%
15%
19%
33%
10%
67%
VlerickUSAEUB
Within 30years aftercompleting studies
Within 3years aftercompleting studies
Source: Ministry of Economical Affairs/Netherlands
![Page 13: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/13.jpg)
© Vlerick Business School
Intentions to set up a business within 3 years: Worldwide 2010 (Source GEM)
0
10
20
30
40
50
60
70
80
90
Italy
Japan
Azore
s
Belg
ium
Denm
ark
Russia
Germ
any
Rom
ania
Spain
Port
ugal
Slo
venia
Sw
eden
Mala
ysia
Sw
itzerland
Gre
ece
Cro
atia
Isra
el
Fin
land
Fra
nce
Tunis
ia
United K
ingdom
Kore
a
Irela
nd
Egypt
Hungary
Neth
erl
ands
United S
tate
s
Norw
ay
Bosnia
and H
erz
egovin
a
Austr
alia
Macedonia
Taiw
an
Turk
ey
South
Afr
ica
Pakis
tan
Saudi Ara
bia
Latv
ia
West
Bank &
Gaza S
trip
Mexic
o
Jam
aic
a
Icela
nd
Uru
guay
Iran
Costa
Ric
a
Arg
entina
Chin
a
Monte
negro
Tri
nid
ad &
Tobago
Guate
mala
Chile
Bra
zil
Colo
mbia
Ecuador
Peru
Uganda
Angola
Zam
bia
Ghana
Bolivia
Vanuatu
% 18-64 pop [7/10] YES: Expects to start a new business in the next 3 years
% 18-64 pop [7/10] TEA involvement: setting up firm or owner of young firm (SU or BB)
![Page 14: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/14.jpg)
14
What keeps people from setting up their own ventures?
![Page 15: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/15.jpg)
© Vlerick Business School
![Page 16: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/16.jpg)
16
![Page 17: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/17.jpg)
© Vlerick Business School
ENTREPRENEURSHIP = ?
An entrepreneur is someone who creates a
business in the face of uncertainty by
identifying significant opportunities and
assembling the necessary resources to
capitalize on them
Scarborough
![Page 18: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/18.jpg)
© Vlerick Business School18 |
![Page 19: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/19.jpg)
© Vlerick Business School19 |
![Page 20: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/20.jpg)
© Vlerick Business School20
Source: Knaup & Piazza, 2008
![Page 21: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/21.jpg)
© Vlerick Business School
![Page 22: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/22.jpg)
© Vlerick Business School
Central questions in entrepreneurship!
�What process can help you:
� to identify/create and implementopportunities?
� to deal with uncertainty?
� to deal with limited resources?
22 |
![Page 23: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/23.jpg)
TERRACYCLE (A): BUILDING A VENTURE WITHSPINELESS EMPLOYEES
![Page 24: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/24.jpg)
the Autonomous Management School of Ghent University and Katholieke Universiteit Leuven
WHO IS TOM SZAKY?
![Page 25: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/25.jpg)
the Autonomous Management School of Ghent University and Katholieke Universiteit Leuven
WHAT IS THE BUSINESS IDEA?
What convinced him there was anopportunity?
![Page 26: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/26.jpg)
the Autonomous Management School of Ghent University and Katholieke Universiteit Leuven
WHAT WENT WRONG?
![Page 27: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/27.jpg)
the Autonomous Management School of Ghent University and Katholieke Universiteit Leuven
WHAT DID HE LOSE?
![Page 28: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/28.jpg)
© Vlerick Business School
![Page 29: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/29.jpg)
© Vlerick Business School29
![Page 30: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/30.jpg)
© Vlerick Business School30
![Page 31: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/31.jpg)
© Vlerick Business School31 |
![Page 32: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/32.jpg)
© Vlerick Business School
CONCLUSION
� Entrepreneurship is the process of identifyingand exploiting opportunities
�A key question in entrepreneurship is how todeal with uncertainty in an efficient way
�Start-ups try, they fail, they adapt, they move on. They try, they fail, they adapt, they move on.
� Learning and flexible adaptation is key in anentrepreneurial setting
� You need to manage downside risk to be able toiterate
32
![Page 33: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/33.jpg)
© Vlerick Business School|
![Page 34: Entrepreneurship in action](https://reader033.vdocuments.mx/reader033/viewer/2022051313/54b39a884a795946338b45a7/html5/thumbnails/34.jpg)
© Vlerick Business School|