Concepts and Papers Flashcards
Entrepreneurial reproduction
Defining The Field of Research in Entrepreneurship
Entrepreneurial imitation
Defining The Field of Research in Entrepreneurship
Entrepreneurial valorization:
Defining The Field of Research in Entrepreneurship
Entrepreneurial venture:
Defining The Field of Research in Entrepreneurship
• the entrepreneur is the individual responsible for the process of creating new value
Defining The Field of Research in Entrepreneurship
• If the project would clearly have been impossible without the contribution of all team members, or if the removal of one individual would have had the effect of wiping out the individual, then the team is effectively the “entrepreneur”
Defining The Field of Research in Entrepreneurship
• Innovation is an essentially collective phenomenon
Defining The Field of Research in Entrepreneurship
Theory of planned behavior
Explaining Entrepreneurial Intentions
two most important variables to explain entrepreneurial intentions are entrepreneurial alertness and the importance attached to financial security
Explaining Entrepreneurial Intentions
Derr’s success measures
Explaining Entrepreneurial Intentions
Entrepreneurial Alertness
Explaining Entrepreneurial Intentions
Financial security
Explaining Entrepreneurial Intentions
Autonomy
Explaining Entrepreneurial Intentions
Necessity-based entrepreneurship
Opportunity-based entrepreneurship
Explaining Entrepreneurial Intentions
- Leadership potential of the lead entrepreneur
- Leadership potential of the management team
- Recognized industry expertise in the team
- Track record of the lead entrepreneur
- Track record of the management team.
Management Buyout: Perception of Opportunity
Leadership capability of the team – In buy outs
Management Buyout: Perception of Opportunity
Leadership potential of the entrepreneur – Start-ups
Management Buyout: Perception of Opportunity
VC’s are more concerned with the characteristics of the team than with those of the business opportunity.
Management Buyout: Perception of Opportunity
An important note from the paper is that the capability of the team is more highly regarded than the capability of the leader
Management Buyout: Perception of Opportunity
Different kinds of risk (magnitude, etc.)
Missing the boat or sinking the boat: A study of new venture decision making
Too sink/miss the boat
Missing the boat or sinking the boat: A study of new venture decision making
Risk-taking in entrepreneurs
Missing the boat or sinking the boat: A study of new venture decision making
Risk propensity
Missing the boat or sinking the boat: A study of new venture decision making
The larger the alternative compensation the less likely it is for the person to engage in entrepreneurial activities. This is independent of his ability or the level of risk aversion.
Opportunity Costs and Entrepreneurial Activity
About 50% of self-employed return to wage work within 7 years. The probability becomes smaller with the years and becoming 0 by the 11th year.
Opportunity Costs and Entrepreneurial Activity
New entrepreneurs compared to paid workers group:
• Somewhat older
• Better educated
• More likely to be males and married
Opportunity Costs and Entrepreneurial Activity
Revitalization innovation and Strategic innovation
Firm Rebirth: Buyouts as facilitators of strategic growth and entrepreneurship
Rules of thumb
Firm Rebirth: Buyouts as facilitators of strategic growth and entrepreneurship
Different types of buyouts
Firm Rebirth: Buyouts as facilitators of strategic growth and entrepreneurship
Entreprenurial release/ Busted-techbuyout/ Failure buyout
Firm Rebirth: Buyouts as facilitators of strategic growth and entrepreneurship
IBO/MBI/MBO
Firm Rebirth: Buyouts as facilitators of strategic growth and entrepreneurship
Three categories of factors that influence the decision to exploit an invention through firm creation:
• The nature of the individual making the decision
• The nature of the industry in which the opportunity would be exploited
• The nature of the opportunity
Technological Opportunities and New Firm Creation
Importance
Radicalness
Patent Scope
Technological Opportunities and New Firm Creation
Buy-out – Involves incumbent managers, in acquiring a significant equity stake.
Buy-in – Involves external managers, as individuals with institutional support, acquiring control of the company
Harvesting and the longevity of Management Buy-outs and Buy-Ins
Harvest
Harvesting and the longevity of Management Buy-outs and Buy-Ins
Closed-end fund
Harvesting and the longevity of Management Buy-outs and Buy-Ins
Equity-ratchet
Harvesting and the longevity of Management Buy-outs and Buy-Ins
Good Rump/Living dead investmetns
Harvesting and the longevity of Management Buy-outs and Buy-Ins
Novice, Serial, Portfolio entrepreneurs
Novice, Serial and Portfolio Entrepreneur Behaviour and Contributions
