Entrep - Lesson 2 Midterms Part 2
Social Entrepreneurship
- These social enterprises range from a variety of industries and beneficiaries such as infants and mothers, employment assistance, and the environment. - What is more impressive is that these small companies are assisting and committing to causes right at their own country, helping their own countrymen while earning revenue.
Scalable Startup Entrepreneurship
- "Highly Scalable Business Models" - scalability defines as the easy growth of business ( one time profitable investment that attracts venturers) - Examples: E-commerce websites, Social media platforms and online stores like amazon. Advantages: ○ Choice liberty ○ Creativity ○ Low investment ○ Flexibility ○ Questioning freedom- asking questions and finding incorrect steps in the system to make better products. Disadvantages ○ Risks - chances of failure are really high ○ Commitment - needs effort Excessive Responsibility
Agripreneurship
- A formidable role has been played by agriculture in the growth of the economy and its development too. - When a business owner started to make developments in the field of agriculture. - It is like a simple business and includes all the operations of a business firm such as manufacturing, production and distribution of farm supplies.
Small Business Entrepreneurship
- A greater number of businesses in society are small that employ more than 50% of total non-government of workers in the PH. - The profit in these types of businesses is pretty less as the main reason behind them (among employers) is creating a living for their families.
Small Business Entrepreneurship
- A small entrepreneur can be the person who operates a business by hiring local people of family members. The majority of them funds their business through friends or family or business loans. - Examples: Grocery stores, plumbers, confectionary stores, electricians, house cleaners, consultants, and hair dressers, among others.
Administrative Entreprenuership
- All administrative and functions of entrepreneurial activity is included - It gives a very effective way to manage all the current as well as future situations of the business with merits and competitive edge - the traditional Research and Development Approach
E-entrepreneurship
- Also known as Cyberpreneurship - In this world full of technology, the sea of opportunities is there where individual, organizations as well as social and nations can use their mobile phones and computer again and again to access the online services. - The influence and outreach of the internet are already known by every business and there is less presence of brick and mortar business.
Large Company Entrepreneurship
- Can be defined as organizations that have a solid set of life cycles. - There is a solid involvements of sustaining innovation providing new sort of products (disruptive innovations). - It includes customization in customer tastes as well as dealing with new competitors. - It means, the creation of a new business within the present organization. - Examples: LG, Tata, Microsoft
Intrapreneurship
- Coined by Gifford Pinchot in the year 1973 - It is based related to the fostering the activities of entrepreneurs in a large organization by making improvements in the products and branding them to increase the profitability. - The valuable asset for an organization considered as innovation and dedicated efforts by the intrapreneur.
E-entrepreneurship
- Every business owner tries to shift to online business and get a reward from technology. - The term "entrepreneurship" indicates analyzing and identifying the bunch of resources and converts the same to online venture business. - This sort of entrepreneur is also known as SENs (Self Employed Entrepreneurs) - Examples: Amazon, Ebay, Etsy
Ecopreneurship
- Green entrepreneurship - It involves the perspectives that signify corporation with the environment by working on their goals as well as profitability. - This term gained popularity in the 1990s and termed as Environmental entrepreneurship
Opportunistic Entrepreneurship
- Hit the iron when its hot" this proverb describes this kind of entrepreneurship and is the best exhibit of the features of Opportunistic Entrepreneurship. - New opportunities are also offered by the changes in the environment but not every business owner is able to identify the opportunities and utilize the same in a timely manner.
Technopreneurship
- IT plays an important role and gives benefits such as generate employment, the best utilization of resources, growth of technology and creates capital. - Example: Microsoft, Apple, Facebook, Twitter, Instagram.
Agripreneurship
- In addition to this, it also includes floriculture, horticulture, sericulture, animal husbandry, biotechnology and so on. - Basically, it is a type of farming business that includes the profitability, use of digital technologies to improve farming, farm management, and innovative solutions and reduce the wastage of crops.
Private Entrepreneurship
- Initiate entrepreneurship under the private sector. - The government of every nation gives ample support services via public as well as private concerns to motivates non-public initiative in taking the ventures of Entrepreneurship. - Moreover, it speeds up the economic development and maintains a balance between a layer and mutual relationship. - Examples: Tesla, Disney, different food chains and hospitals are all examples of these.
Technopreneurship
- Is a kind of entrepreneurship in the intensive technology context and the process of amalgamating the entrepreneurial skills and technology where the technology is used as an essential part. - It is a sort of new breed of entrepreneurship needs an entrepreneur who is creative, techno-savvy, passionate as well as the ability to calculate associated risk in advance.
Individual Entrepreneurship
- Is managed and executed by an individual or a member of a family with some personal motives as well as initiatives, thus it is called as such. - Example: Steve Jobs, JK Rowling, Mark Zuckerberg
Incubative Entrepreneurship
- It generates and nurses new ideas and ventures within the organization. - It executes then in a productive manner and ensures material gain for the organization.
Cultural Entrepreneurship
- These entrepreneurs changes culturally who organize cultural, financial, social as well as human capital to make a profit out of it. - They produce products that are culturally good and generating a lot of opportunities for economy, society and culture. - These firms are coming from micro, small to large enterprises.
Imitative Entrepreneurship
- It involves the adoption of current technologies from across the world and takes on existing technologies with some few modifications that suit the local conditions. - Example: Walton BD produce many products like refirgerators, motorbikes and other electronic products without being the real creator of those products. - Another example can be China where mobile technologies is adapted and modified to take this to new level.
Joint Entrepreneurship
- It is a collaboration of private and public entrepreneurship. - When a business enterprise is partly owned, controlled and managed by a private entrepreneur and the government. - Example: PAG-IBIG, VECO, Smart phones by Nokia and Microsoft.
Administrative Entreprenuership
- It is the joint efforts of both the general management and scientific-technical personnel to identify areas for research and development of new product, techniques or the improvement of existing ones. -there are few examples that can give an ideas such as: Managment of quality Redesigning of job New techniques to do things Management of consensus
International Entrepreneurship
- It is the whole process of entrepreneurship that conducts ad, performs activities of the business across the boundaries of nation. - It involves various activities such as opening new branches of a business firm in new location, exporting the products to tother countries and get a license to sell as well as promote the products across the nations. - The highlighted purpose of this entrepreneurship is to fulfill and satisfy the needs and wants of the target audiences.
Incubative Entrepreneurship
- It manages it in a productive way and makes sure the material gain for the business firm. - They pursue and help to get differentiated technologies to promote creations and innovations. Microsoft, Nokia, etc. always incubates new varieties/types of products and creates product differentiation in the market.
Social Entrepreneurship
- People in business are the innovators who target on development of products and services, so that social requirements and problems can be solved. - Unlike scalable startup entrepreneurship, the main motive of entrepreneurs in this case involving the world. - While businessmen aim to define, compete or create a market with the goal of earning in mind, the social entrepreneur looks at his community, sees the challenges, and commits to their improvement.
Public Entrepreneurship
- Referred to as the entrepreneurship that comes under the government through the various developmental agencies. - All developed and underdeveloped nations take initiative in venture ideas to meet the preliminary shortage of private entrepreneurs.
Cultural Entrepreneurship
- Such entrepreneurship works in cultural professions such as artists, writers, musicians, dancers, advertisers, bloggers, architects and so on. - The motive of such firms is the betterment of society by leverage of business. - Sometimes, cultural entrepreneurs rely on media tools to change ideas, beliefs and behavior of the people through communication and influence.
Mass Entrepreneuship
- The emergence of this category of entrepreneur occurs when there is a presence of a lot of favorable climate of encouragement as well as a motivation among the common masses. - It leads to increase the small and large enterprises in a nation. - Examples: food caterers, beauty salon, and local shops
Intrapreneurship
- The four elements are: ○ The right structure ○ Suitable manpower ○ Reward ○ Collaboration for a bright future - This entrepreneurship is very significant in this changing world of competitiveness in the marketplace. - Is the act of behaving like an entrepreneur while working within a large organization. - Intrapreneur is an employee who is tasked with developing an innovative idea within a company and can draw on its resources to do so.
Acquisitive Entrepreneurship
- The highlighted point is that some failures never prevent them from learning and developing new skills but also encourages them to figure out such new things all the time. - Trying to learn about the reason why you failed and how to bounce back from that failure. Example: Imagesbazar.com (search engine wherein you can download creative indian images, photos and videos), the founder Sandeep Maheshwari failed to produce the masterpiece in his first year of launch, but later on he discovered how he can make his idea a big succe
Scalable Startup Entrepreneurship
- The majority of the people believe that small business and this business are the same but they are different - Can be defined as a business model where an organization is started on the basis of a unique idea. - It involves everything that ranges from creating a plan to all the way up launching the business. - involve a great sort of work, education and experience.
Trading Entrepreneurship
- These are a kind of mediator between the manufacturer of a product and its customers or retailers or wholesalers. - All the activities related to the trading of an organization are done through such type of entrepreneurs. It serves as middlemen for dealers, wholesalers, manufacturers, and the customers. - Examples: Paul Tudon Jones, Nick Leeson, and John Key
Public Entrepreneurship
- These are different from private entrepreneurs as the work under the government to solve public and environmental issues. - Also they are not social entrepreneurs because they are bound to governments rules and regulations. - Example: Hyman Rickover submarine and Nancy Hank, the chair person of national endowment of arts. (PH LTO, DTI, DOT)
International Entrepreneurship
- This entrepreneurship gets the benefit when the demand for the products increases internationally but the meed for the same product is domestically not required or decreasing. - It is very significant in different aspects such as lower the cost of manufacturing, increase in sales and profit, Globalization, cheap labors, developing the habit of customer relation management and utilize the talent to a great extent along with the managerial competencies. - Examples: Google, Apple and McDonalds
Ecopreneurship
- This entrepreneurship is concerned with the problems of the environment while focusing on the operations of the business firm and its profit margin. - Has three main concepts: ○ Eco-innovation ○ Eco-opportunity ○ Eco-commitment Example: Body shop, Ben and Jerry's, Human N
Scalable Startup Entrepreneurship
- This type of entrepreneurship commences with a vision that they can make some changes in the world. - Their investment comes from the venture capitalists as well as by employing efficient employees. - Their goal os to find out the repeatable and scalable business model. Once they find that model, they further start raising funds from venture capitalists for the growth of the business.
Acquisitive Entrepreneurship
- This type of entrepreneurship learns from other competencies. - It acquires something new of value, the competitive environment etc. - It achieves the competitors technical capacities. It keeps entrepreneurship sustainable in a competitive environment.
Social Entrepreneurship
- To become an effective social entrepreneur is all about being Richard Branson and Mother Teresa all at the same time as further described by the Schwab Foundation- an institution established in 1998 under the Swiss Federal Government with 260 social entrepreneurs in its community that continues to grow with its annual selection of new members under a fine-toothed selection process.
Social Entrepreneurship
- To further understand and imbibe what social entrepreneurship is all about, it's worth looking at its history through its most popular proponents, the people who looked and saw the reality of social injustice and did something about it.
Imitative Entrepreneurship
- Under an agreement with a franchise, this entrepreneurship imitates or copying the operative products and services. - It is a model that assists to spread a new technology across the globe so that people can utilize it.
State Entrepreneurship
- When a business firm is managed and operated wholly by the state or the government of the state. - All the trading as well as industrial ventures are fully undertaken by the state only and not a single entrepreneur is ther. - Example: MCWD
Domestic Entrepreneurship
- When a business owner produces good and provides services within the boundaries of a nation. - They follow all the rules and regulations related to the business established by the government of the country to grow their business domestically. - It complies with the policies of the government, highly convenient, culturally sensitive, adapts the technologies, better understand the local system, more opportunities for growth and risk as well as reward. Example: dog walking, free lance writing
Transpreneurship
- When the people from various groups of gender comes up with some small scale business to fullfil their day to day needs, then it is widely known as transpreneurship - It is associated with the third class gender where people are not only begging or are sex workers, but they get their bread and butter from doing any small scale business. Anam Prem, Mumbai
Administrative Entreprenuership
- all these tasks of this type of entrepreneurship maximize the efficient of an organization and nukes the achievement of the firm and sustain in the competitive market place - example is the old-age pension scheme in bangladesh
Opportunistic Entrepreneurship
- describes as identifying, exploiting and performs the upcoming opportunities in the first hand. - Example: FedEx, Arthur Fry, Lan Hancock, Frank Epperson- discovered popsicle sticks
Social Entrepreneurship
- was fueled by the unprecedented advances in economy which were not parallel to the progress in the social standing of people. Because of this, there was a big gap between the rich and the poor and the humber of marginalized rose exponentially in number. While most turned its checks, a few took it as an opportunity to make a difference.
Commercial Entrepreneurship
-this type of entrepreneurship associated with the profitability only and emphasized the opportunities and not on the resources. - It uses the available resources as it lies between the hierarchies as well as handle the network on behalf of the entity. - It is viewed as profit-based entrepreneurship as all the operation held by taking profit as a major motive. - This concept was coined about 250 years ago and focuses on the economy. - Examples: tiktok, facebook, snapchat
Types of Social Enterprise
1. Leverage non-profit 2. Hybrid non-profit 3. Social Business venture
Business Incubators
Are organizations that offer a collaborative work environment for entrepreneurs to nurutre and guide them from start up to independence
Disruptive innovation
is an innovation that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market leading firms, products and alliances. - It refers to a new development that dramatically changes a structure or industry functions. - Examples: Netflix, trying to disrupt cinema and cryptocurrencies disrupting actual money. 3D printers.
Leverage non-profit (Social Entrep)
uses funds in innovative ways to be able to fulfill a need. Usually, these enterprises have a more traditional way of tackling the issues they take up.
Hybrid non-profit (Social Entrep)
uses profit to be able to support its causes and operations. Funding comes from market or government failures aside from grants and support from the private sector.
Social business venture
uses set-up businesses in line with the enterprise to support its operations. This mostly happens to social enterprises due to lack of funds and/or support. - Dr. Maria Montesorri. Gawad Kalinga Safepoint Trust Ashoka.org