Test File for Test Class

MARKETING OF SMALL BUSINESS2008-9 ELIHESession 4 – 23rd October 2008 : Marketing in Small Business 08-09 MARKETING OF SMALL BUSINESS2008-9 ELIHESession 4 – 23rd October 2008 Martin McAreavey BSc MBA PGCE

Content of This Session : Marketing in Small Business 08-09 Content of This Session Assignment 1 Groupings and Subject Choices Lecture – 3 parts: Entrepreneurial characteristics Are Ents Born or Made (nature v nurture) Why entrepreneurs matter to large companies Homework Hauler Case Study (to be emailed)

Part 1 – Recognising Entrepreneurs (Close Eyes) : 3 Part 1 – Recognising Entrepreneurs (Close Eyes) Overview (way to progress) Framework for categorising entrepreneurs Being ‘e’ when appropriate Individual or the organisation Entrepreneurship in a world context Metaphors for Entrepreneurial behaviour

Part 2 -Nature v Nurture Debate.. : 4 Part 2 -Nature v Nurture Debate.. Carson suggests that: Entrepreneurs are recognised by what they do, NOT what they are: (i.e. Behaviour, not traits) Entrepreneurs create organisations Demonstrate Superior Vision (opportunity seeking and enacting)

Part 3 – Why Ents Matter : 5 Part 3 – Why Ents Matter Why Entrepreneurs and their thinking matters to large companies Matters to us as: Successful entrepreneurial small companies grow Often large companies believe that small companies have the magic ingredient of being entrepreneurial

Part 1 – Recognising Ents : 6 Part 1 – Recognising Ents Overview (way to progress) Framework for categorising entrepreneurs Being ‘e’ when appropriate Individual or the organisation Entrepreneurship in a world context Metaphors

Questions under debate in this class : 7 Questions under debate in this class

A framework for categorising entrepreneurs (Ginsberg) : 8 A framework for categorising entrepreneurs (Ginsberg) Different competencies and skills Mixing entrepreneurs and managers When to be entrepreneurial and when to be managerial How transferable is IE to OM; IE to CM How does mutated CV work with CM? Can IE want or become CV?

Individual or the Organisation : 9 Individual or the Organisation That is entrepreneurial? Pierre Omidyar … or … Ideally needs to be both

Global Entrepreneurship Monitor (GEM): Some Background on Entrepreneurship around the world! : Global Entrepreneurship Monitor (GEM): Some Background on Entrepreneurship around the world! Entrepreneurial activity varies between nations and over time. “The TEA Index (total entrepreneurial activity) index and the FEA Index (firm entrepreneurial activity) index provide two ways to characterize countries in terms of entrepreneurial activity. The first one reflects the prevalence of start-up efforts amongst the population in their working years. The second one measures the presence of entrepreneurial activity among existing businesses.”

Metaphors of Entrepreneurs : 11 Metaphors of Entrepreneurs Brief revisit to these Can be useful – can be dangerous Some academic articles to read Please see the following slides All available on the Metalib site

And read this please! : 12 And read this please!

Daryl Mitton : 13 Daryl Mitton Entrepreneurship: One More Time – Non Cognitive Characteristics that make the Cognitive Click Babson Frontiers of Entrepreneurship Research – http:www.babson.edu/entrep/fer/papers97/mitton/mit1.htm

Just to give you a ‘flavour’ of Mitton on Entrepreneurs ….. : 14 Just to give you a ‘flavour’ of Mitton on Entrepreneurs ….. Actively bank experience Systematically think and act Continually test limits Embrace competence Commit to a ‘cause’ Are situationists Take fast action Seek significant and enduring change

Part 2 – Nature v Nurture : 15 Part 2 – Nature v Nurture The key point: behaviour not traits Create organisations David Carson on entrepreneurship Superior Vision (opportunity seeking and enacting)

Entrepreneurs are .......... : 16 Entrepreneurs are .......... What they do (behavioural definition) NOT … what they are (trait view) (Source: Gartner) Accepting that allows us to ask some neat questions …

Entrepreneurs create organisations : 17 Entrepreneurs create organisations What do they do to enable organisations to come into existence? What kind of activities do they perform? What kinds of information are processed and how? What are the distinguishing characteristics of the entrepreneurial approach? How are decisions made? Source: Gartner

David Carson on Entrepreneurship : 18 David Carson on Entrepreneurship Calculated risk taking and risk sharing propensity Need for achievement Locus of control Personal values, integrity Need for power Need for affiliation Commitment, determination and perseverance Assuming personal responsibility A grip on reality Sense of humour Tolerance of ambiguity, stress and uncertainty Decisive, urgent Tolerance of failure David Carson et al., Module Core text, Chapter on entrepreneurship, page 51.

The superior vision thing ! : 19 The superior vision thing ! Spotting and enacting opportunity Bill Gates and PC

Part 3 – Why Entrepreneurs are Important to Large Firms : 20 Part 3 – Why Entrepreneurs are Important to Large Firms Matters to large companies Matters to us as: Successful entrepreneurial small companies grow Often large companies believe that small companies have the magic ingredient of being entrepreneurial

Entrepreneurship matters to large as well as small companies : 21 Entrepreneurship matters to large as well as small companies For example – Hewlett Packard

Slide 22 : 22

And in the daylight! : 23 And in the daylight! The Hewlett-Packard Company was founded by Bill Hewlett and Dave Packard in the garage of their rented home in California in 1939. The garage has been designated a California Historical Landmark and the ‘The birthplace of Silicon Valley’ Carly Fiorina, HP President and CEO

Slide 24 : 24

Others? : Others? Marketing in Small Business 08-09

My favourite four entrepreneurial definitions .... : 26 My favourite four entrepreneurial definitions .... Stevenson & Jarillo, 1990 Entrepreneurship is the process by which individuals pursue opportunity without regard to the resources they currently control Drucker, 1986 Entrepreneurs innovate Schumpeter, 1934 they do one, or more of, five actions. Kirzner, 1973 spot opportunity & bring buyers and sellers together in markets that are in turmoil

Recap / Conclusion : Recap / Conclusion What has come out of this class? Marketing in Small Business 08-09