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The Value of a Venture You, Investors and Stakeholders. Entrepreneurs. "one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods".
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The Value of a Venture You, Investors and Stakeholders
Entrepreneurs • "one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods". • This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity • The most obvious form of entrepreneurship is that of starting new businesses • in recent years, the term has been extended to include social and political forms of entrepreneurial activity
Entrepreneurs • By the time they reach their retirement years, half of all working men in the United States probably have a period of self-employment of one or more years; • one in four may have engaged in self-employment for six or more years • Participating in a new business creation is a common activity among U.S. workers over the course of their careers
Entrepreneurs • The entrepreneur is widely regarded as an integral player in the business culture of American life • an engine for job creation and economic growth • More than a hundred scholars around the world track entrepreneurial activity, policy and social influences as part of the Global Entrepreneurship Monitor and its associated reports.
Entrepreneurship = taking riskFrank H. Knight (1921) and Peter Drucker (1970) • Risk, which is measurable statistically • Ambiguity, which is hard to measure statistically • True Uncertainty which is impossible to estimate or predict statistically
What is New (and Risky) in e-Markets? http://company.zynga.com/ http://www.blurb.com/ http://www.amazon.com/ http://store.apple.com/ http://twitter.com/ http://www.android.com/ http://www2.atmel.com/ http://www.rovio.com • https://www.onekingslane.com/ • https://www.tumblr.com/ • http://wikileaks.org/ • https://www.lendingclub.com/ & http://www.prosper.com/ • https://www.salesforce.com/ • http://www.lifetechnologies.com/ • http://www.roku.com/ • http://www.xbox.com/en-US/live
Palmisano’s guiding framework • Four questions: • “Why would someone spend their money with you — so what is unique about you?” • “Why would somebody work for you?” • “Why would society allow you to operate in their defined geography — their country?” • “Why would somebody invest their money with you?”