The entrepreneurial decision process by biplobllb

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									          The entrepreneurial decision process



Deciding to become an entrepreneur by leaving
present activity. Millions of ventures are formed
despite recession, inflation, high interest rates, and
lack of infrastructure, economic uncertainty and high
probability of failure. The entrepreneurial decision
process, which entails a movement, from something
to something-a movement from present lifestyle to
forming a new enterprise.
          Decision for a potential entrepreneur:

• Changes from present lifestyle           Form new enterprise
• Work environment                 Desirable
• Disruption (disorder)                 1. culture
                                2. subculture
                                3. family
                                4. teachers
                                5. peers
                         Possible
                  1.    government
                  2.    background
                  3.    marketing
                  4.    financing
                  5.   role models
                    Types of start-ups:


• Lifestyle firm:

• Foundation company:

• The high potential venture:


• Gazelles:
Types of skills of an entrepreneur:
• Technical skill
     Writing
     Oral communication
     Monitoring environment
     Technical business management
     Technology
     Listening
     Ability to organize
     Network building
     Management style
     Coaching
     Being a team player
Types of skills of an entrepreneur:
• Business management skill:
     Planning and goal setting
     Decision making
     Human relation
     Marketing
     Finance
     Accounting
     Management
     Control
     Negotiation
     Venture lunch
 Types of skills of an entrepreneur:

• Personal entrepreneurial skills
  Inner control disciplined
  Risk taker
  Innovation
  Change oriented
  Persistent
     Visionary leader and ability to manage
 change

								
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