Chapter 5 - Organisation of opportunities

Question 1

Describe organisation in terms of opportunities

Answer 1

Developing some meaningful practice, structures and systems that we call organisations. The coordination of elements such as people, resources, strategies, competition etc.

Question 2

Describe the improvisation perspective

Answer 2

planning makes less sense since there is so much uncertainty associated with entrepreneurship.

Question 3

Name the five phases of an organisation

Answer 3

1) Idea
2) Opportunity
3) Project
4) Emerging organisation
5) Stable organisation

Question 4

Name the 3 organising components

Elements the entrepreneur must make to realise the opportunity in the market

Answer 4

o Resources - Require resources
o Network – Act and interact with the environment with new and existing social networks
o Establishment and development of technology – Inputs are transformed to products

Question 5

Describe the elements that identifies the planning perspecitve

Answer 5

• Has its roots in classical management theory, where the manager is the creator of the organisation to achieve predefined goals
• Organising is intentional, rational and considered
• Can be driven by analysis and planning
• Can be steered towards a specific goal
• The entrepreneur has a clear picture of the goal that he/she wants to achieve
• “What must I do to achieve the desired goal?”
• Choose optimal strategies, resources and networks
• Only makes sense if we assume that the future is predictable

Question 6

Describe the improvisation perspective

Answer 6

• The entrepreneur cannot, in advance, articulate a clear coal of the organisation
• No planning beforehand
• It is needed to give up control and build on the limited resources that are available
• Must look to the present situation and current opportunities and find new directions along the way to transform the opportunity into a new organisation
• “The bird in the hand is worth more than two in the bush”
• Make use of what you have when organising

Question 7

Discuss when it is suitable to use the planning VS the improvisation perspective of organising

Question 8

Name the two perspectives of organising

Answer 8

• Planning

- Improvisation

Question 9

Can planning and improvisation perspective co-exist or are they mutually exclusive? Discuss

Question 10

How can instrumental and legitimacy logics help you develop your business idea? Discuss

Question 11

In which situation shall you adopt the planning process of organization of opportunities? Discuss

Question 12

In which situation shall you adopt the improvising process of organization of opportunities?

Question 13

How does (1) context influence (2) the planning process of organization of opportunities and (3) the improvising process of organization of opportunities? Any example? How would you put (1), (2) and (3) into practice of your business plan project?

Question 14

What are the roles of the entrepreneurial team in:
The instrumental evaluation?
The legitimating evaluation of opportunities?
The planning process of organization of opportunities
The improvising process of organization of opportunities? Discuss