LESSON 2 - ENTREPRENEURSHIP & ECONOMIC DEVELOPMENT and ENTREPRENEURSHIPCLASSIFICATION

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This is in fact, the traditional Research and Development management approach.

Administrative Entrepreneurship

Under this category, all the administrative techniques and functions of entrepreneurial activity is included.

Administrative Entrepreneurship

refers to the process by which the overall health, well-being, and academic level of the general population improve.

Economic development

The emergence of this category of entrepreneurship occurs when there is a presence of a lot of favorable climate of encouragement as well as a motivation among the common masses.

Mass Entrepreneurship

This is a kind of entrepreneurship that we have in the PH.

Mass Entrepreneurship

All developed and underdeveloped nations take initiative in venture ideas to meet the preliminary shortage of private Entrepreneurs.

Public Entrepreneurship

These are different from private entrepreneurs because they work under government to solve public and environment issues.

Public Entrepreneurship

also they are not social entrepreneurs because they are bound to governments rules and regulations.

Public Entrepreneurship

referred to as the entrepreneurship that is come under the government through the various development agencies.

Public Entrepreneurship

Examples: Food caterers, beauty salon and local shops

Mass Entrepreneurship

It leads to increase the small and large enterprises in a nation.

Mass Entrepreneurship

scalability defined as the easy growth of the business. (hook up venture capitalists) (one time big time)

"Highly Scalable Business Models"

TYPES OF SOCIAL ENTERPRISES

1. Leverage non-profit 2. Hybrid non-profit 3. Social business venture

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.

A small entrepreneur

It's trying to learn why you failed and how you are going to get back and become successful

Acquisitive

It achieves the competitors technical capacities. It keeps entrepreneurship sustainable in a competitive environment.

Acquisitive Entrepreneurship

It acquires something new of value, the competitive environment etc.

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 times.

Acquisitive Entrepreneurship

This type of Entrepreneurship learns from other competencies or rival companies.

Acquisitive Entrepreneurship

All these tasks of this type of entrepreneurship maximize the efficiency of an organization and nukes the achievements of the firm and sustains in the competitive marketplace.

Administrative Entrepreneurship

It gives a very effective way to manage all the current as well as future situations of the business with merits and a competitive edge.

Administrative Entrepreneurship

It is the joint efforts of both the general management and scientific-technical personnel to identify areas for research and development of new products, techniques, or the improvement of the ones.

Administrative Entrepreneurship

- 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.

Agripreneurship

- It is like a simple business and includes all the operations of a business firm such as manufacturing, production and distribution of farm supplies. - In addition to this, it also includes floriculture, horticulture, sericulture, animal husbandry, biotechnology and so on. - Basically, it is a type of farming business includes the profitability, use of digital technologies to improve solutions and reduce the wastage of crops.

Agripreneurship

In group psychotherapy, refers to a participant who stimulates an emotional reaction from fellow participants. Thus, this person actively participates and facilitates the process of sharing experiences.

Catalytic agent

- It is also named as "Green entrepreneurship". - It involves the perspectives that signify cooperation with the environment by working on their goals as well as profitability. - This term gained popularity in the year 1990s and termed as "Environmental entrepreneurship".

Ecopreneurship

- This type of entrepreneurship associated with the profitability only and emphasized the opportunities and not on the resources. - It uses the available resources lies between the hierarchies as well as handles the network on behalf of the entity. - It is viewed as profit-based entrepreneurship as all the operations held by taking profit as a major motive.

Commercial Entrepreneurship

- The motive of such firms is the betterment of society by leverage the business. - Sometimes, cultural entrepreneurs lie or rely on media tools like Twitter and Kickstarter to change the ideas, belief and behavior of the people through communication and influence.

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.

Cultural Entrepreneurship

- These firms are coming from micro, small to large enterprises. - Such entrepreneurship works in cultural professions such as artists, writers, musicians, dancers, advertisers, blogger and vloggerss, architects and so on.

Cultural Entrepreneurship

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.

Disruptive Innovation

- When a business owner produces goods 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.

Domestic Entrepreneurship

- This is also known as E-Entrepreneurship or Cyberpreneurship. - 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).

E-Entrepreneurship

process by which countries with low living standards become nations with high living standards.

Economic development

process by which emerging economies become advanced economies.

Economic development

- Last but not least, this entrepreneurship is concerned with the problems of the environment while focusing on the operations of the business firm and its profit margin. - It has three main concepts such: >Eco-innovation, >Eco-opportunity and >Eco-commitment.

Ecopreneurship

Is involved in all strategic decision-making. (ENTREP or INTRAP)

Entrepreneur

the one setting up the business; the one hired by a businessman probably, a traditional businessman or by a large company. He is the one who is trying to think of ways, innovative ideas, procedures, methods and so on that would benefit the company. Basically, they are just hired by a company.

Entrepreneur; Intrapreneur

Small business and Scalable Startup Entrepreneurship are the same. (TRUE or FALSE)

FALSE

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.

Imitative Entrepreneurship

It is a model that assists to spread a new technology across the globe so that people can utilize it. (just like KROC)

Imitative Entrepreneurship

Under an agreement with a franchise, this entrepreneurship imitates or copying the operative products and services.

Imitative Entrepreneurship

Refers to higher levels of education and literacy, workers' income, health, and lifespan

Improved living standards

It executes them in a productive manner and ensures material gain for the organization.

Incubative Entrepreneurship

It generates and nurses new ideas and ventures within the organization.

Incubative Entrepreneurship

It manages it in a productive way and makes sure the material gain for the business firm.

Incubative Entrepreneurship

They pursue and help to get differentiated technologies to promote creations and innovations Microsoft, Nokia, etc.

Incubative Entrepreneurship

It is entrepreneurship that is managed and executed by an individual or a member of a family with some personal motives as well as initiatives.

Individual Entrepreneurship

- It is the whole process of entrepreneurship conducts ad, performs the activities of the business across the boundaries of the nation. - It involves various activities such as opening new branches of a business firm in new locations, exporting the products to other countries and get a license to sell as well as promote the products across the nations.

International Entrepreneurship

- The highlighted purpose of this entrepreneurship is to fulfill and satisfy the needs and wants of the target audiences. - This entrepreneurship gets the benefit when the demand for products increases internationally but the need for the same product is domestically not required or decreasing.

International Entrepreneurship

Shares decision-making power (ENTREP or INTRAP)

Intrapreneur

is an employee who is tasked with developing an innovative idea within a company and can draw on its resources to do so.

Intrapreneur

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.

Intrapreneurship

The valuable asset for an organization considered as innovation and dedicated efforts by the intrapreneur.

Intrapreneurship

This term was coined by Gifford Pinchot in the year 1973.

Intrapreneurship

is the act of behaving like an entrepreneur while working within a large organization.

Intrapreneurship

- 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.

Joint Entrepreneurship

Can be defined as an organization that has a solid set of life cycles.