Entrepreneurship vs Intrapreneurship

Question 1

Intrapreneurship

Answer 1

• ´Intracorporate + Entrepreneurship`
• the behaviour of the employees within a firm
• they should act / behave as if they were entrepreneurs

Question 2

examples entrepreneurs

Answer 2

- Elon Musk
  Space X , Tesla, Solar City
- Bill Gates
  Microsoft
- Steve Jobs
  apple
- James Watt 
  Steam engine
- Kevin Systrom
  Instagram

Question 3

are entrepreneurs born or made?

Answer 3

• children of entrepreneurs are 60% more likely to
  become entrepreneurs
• adoptive parents have an importance being twice as
  much

Question 4

entrepreneurs vs managers

Answer 4

• less loss averse than managers
• a more intuitive decision making style than managers
• more optimistic than managers

Question 5

the 5 discovery skills

Answer 5

• associating
  creativity is one of the few abilities which is worsened
  the more mature we get
  increasing idea stock increases innovation
  innovation as results of combining ideas from different b
  knowledge domains
• questioning
  what is needed?
• observation
  observe behaviour of the potential customers / target
  group
• experimenting
  don´t be shie!
• networking
  the clue to every solution, contacts

Question 6

likelihood of opportunity recognition an d financial success

Answer 6

correlation betw. discovery skills and financial success
but success is influenced by many more factors:

• personality traits and motivations
• executions skills
• experience
• timing
• competition and technology
• capital
• organisational constraints

Question 7

effectuation

causal rationality vs effectual reasoning

Answer 7

causal rationality
- pre-determined goal
- given set of means
- ambition to identify the optimal: 
  fastest, cheapest, most efficient

effectual reasoning
- given set of means
- allows goals to arise from the imagination and aspiration
of the founders and people they interact with

Question 8

effectuation

4 basic principles

Answer 8

idea enrichment - cooking with our recipe!
how do entrepreneurs build their companies?

1. Bird in Hand Principle - Start with your means
   start taking action, don’t wait
2. Affordable Loss Principle - Set affordable loss
   evaluate opportunities whether the downside is
   acceptable, rather than concentrating on the possible
   success
3. Lemonade Principle - Leverage contingencies
   accept surprises, remain flexible, don’t follow the plan
   for the whole time
4. Crazy-Quilt Principle - Form partnerships
   connect with people and organisations willing to make
   a commitment
   save money for marketing
   ´ friends can spread the world `

example: flickr