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An Entrepreneur and Leader

An Entrepreneur and Leader. I Dr. ZŽelimir William Todorovic Associate Professor in Small Business and Entrepreneurship Guest Editor, International Journal of Entrepreneurship and Small Business. Resource-Based View of the Firm. Basic Assumption Types of resources Tangible resources

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An Entrepreneur and Leader

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  1. An Entrepreneur and Leader IDr. ZŽelimir William TodorovicAssociate Professor in Small Business and Entrepreneurship Guest Editor, International Journal of Entrepreneurship and Small Business

  2. Resource-Based View of the Firm • Basic Assumption • Types of resources • Tangible resources • Intangible resources • Organizational capabilities • Organizational competencies • Dynamic Capabilities Firms consist of a heterogeneous resource base

  3. Management preferences External Environment Organization Strategy Resources Need for Internal Allignment

  4. Continuum of Radical and Incremental Innovations Exhibit 12.1 Continuum of Radical and Incremental Innovations

  5. Entrepreneurial Orientation Dimension Definition Autonomy Independent action by an individual or team aimed at bringing forth a business concept or vision and carrying it through to completion. Innovativeness A willingness to introduce novelty through experimentation and creative processes aimed at developing new products and services as well as new processes. Proactiveness A forward-looking perspective characteristic of a marketplace leader that has the foresight to seize opportunities in anticipation of future demand.

  6. Competitive An intense effort to outperform industry rivals. It is characterized by a combative posture or an aggressive response aimed at improving position or overcoming a threat in a competitive marketplace. aggressiveness Entrepreneurial Orientation (cont’d) Dimension Definition Risk taking Making decisions and taking action without certain knowledge of probable outcomes; some undertakings may also involve making substantial resource commitments in the process of venturing forward. Source: J. G. Covin and D. P. Sleving, “A conceptual Model of Entrepreneurship As Firm Behavior,” Entrepreneurship Theory & Practice, Fall 1991, pp. 7-25; G. T. Lumpkin and G. G. Dess, “Clarifying the Entrepreneurial Orientation Construct and Linking It to Performance,” Academy of Management Review 21, no. 1 (1996), pp. 135-72; D. Miller, “The Correlates of Entrepreneurship in Three Types of Firms,” Management Science 29 (1983), pp. 770-91.

  7. Ensuring Informational Control • Traditional control system • Based largely on the feedback approach • Traditional approach is sequential • Strategies are formulated and top management sets goals

  8. Ensuring Informational Control • Contemporary control system • Interactive relationships between strategy formulation, implementation and control • Two different types of control

  9. Behavioral Control: Balancing Culture, Rewards, and Boundaries • Traditional approach • Emphasizes comparing outcomes to predetermined strategies and fixed rules • Contemporary approach • - A balance between • Culture • Rewards • Boundaries

  10. Good Business Opportunity Attractive Value creating Achievable Durable Characteristics of Good Opportunities • Before launching opportunity as a business • Consider the resources available to undertake it • Consider the characteristics of the entrepreneur pursuing it

  11. A Leader’s Bases of Power

  12. Successful traits of leaders at the highest level Technical skills Emotional intelligence Cognitive abilities A Good Leader…. Ability to work with others, passion for work, etc. Accounting, business planning, etc. Analytical reasoning, quantitative analysis, etc.

  13. Portfolio Management Key Each circle represents one of the firm’s business units Size of circle represents the relative size of the business unit in terms of revenue

  14. Management preferences External Environment Organization Strategy Resources

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