A Primer in Entrepreneurship

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A primer in Entrepreneurship

Prof. Dr. Ulrich Kaiser Institute for Strategy and Business Economics University of Zurich

Spring semester 2008

Chapter 1: Introduction to Entrepreneurship
Table of Contents
I. II. Introduction to Entrepreneurship p p Changing Demographics of Entrepreneurs

III. Entrepreneurship’s Importance IV. The Entrepreneurial Process

University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser

A primer in Entrepreneurship Spring semester 2008 2


1. 2. 3.

Introduction to Entrepreneurship
What is Entrepreneurship?
“Entrepreneur” derives from the French words entre, meaning “between,” and p prendre, meaning “to take” , g Originally used to describe people who “take on the risk” between buyers and sellers or who “undertake” a task such as starting a new venture Inventors and entrepreneurs differ from one another: 1. 2. 4. Inventor creates something new Entrepreneur assembles and then integrates all resources needed to transform the invention into a viable business. needed to transform the invention into a viable business

Entrepreneurship: process by which individuals pursue opportunities without regard to resources they currently control

University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser

A primer in Entrepreneurship Spring semester 2008 3


Introduction to Entrepreneurship
What is Entrepreneurship?
Established firms with an orientation to behave entrepreneurially practice corporate entrepreneurship corporate entrepreneurship a. All firms in continuum from highly conservative to highly entrepreneurial; position: “entrepreneurial intensity” b. Entrepreneurial firms are proactive innovators and not risk‐adverse c. Conservative firms take a more “wait and see” posture, are less innovative, and are risk averse…...

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