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THE ENTREPRENEURIAL MINDSET (COGNITIVE ADAPTIBILITY (describes extent (in…
THE ENTREPRENEURIAL MINDSET
THE NATURE OF ENTREPENEURSHIP
Entrepreneurial Oppurtunities
situations
new goods
#
services
#
raw materials
#
organizing methods
#
introduced
sold > cost price
stem from
introducing existing technological product
used in one market
create
new market
alternatively
creating new technological product
existing market
new product/service
new market
Entrepreneurial Action
definition
through
creation
new products
processes
entry
new markets
action
occur through
newly created organizations
established organization
Entrepreneurial Thinking
definition
individuals
mental processes
overcoming ignorance
decide
signal = opportunity
reducing doubt
opportunity for them
processing
feedback
from action steps
MCMULLEN - SHEPHERD MODEL
Entrepreneurial Action
Attention stage
knowledge
prior knowledge
3rd person opportunity
#
motivation
personal strategy
Evaluation Stage
knowledge
feasibility assesment
entrepreneurial action
#
motivation
desirability assessment
1st person oppurtunity
#
STRUCTURED THINKING
Superficial similarities
basic elements
tecnology
basic elements
market
resemble
e.g. NASA & Aeroplane
Structural Similarities
underlying mechanisms
technology
resembles
underlying mechanisms
market
e.g.
NASA & ADHD Treatment
Bricolage
applying combinations
resources at hand
new
problems
opportunities
reframing
existing resources
tinkering
use
newer ways
EFFECTUATION
Casual process
starts
desired outcome
focuses
means to generate
Effectuation process
starts
what one has
select
outcomes
THE INTENTION TO ACT ENTREPRENEURIALLY
entrepreneurial self-efficacy
conviction
be successful
pursue
outcomes
perceived desirability
degree
potential entrepreneurial outcome
evaulated
favourable
unfavourable
entrepreneurial intentions
motivational factors
influence
individuals
pursue
entrepreneurial outcomes
COGNITIVE ADAPTIBILITY
describes extent
dynamic
flexible
self - regulating
engaged
in the process
generating
multiple decision frameworks
focused on
sensing
processing
change
enviroment
acting on them
comprehension questions
increase
understanding
nature enviroment
connection tasks
thinking
similarities
differences
between
current situations
faced and solved
strategic tasks
identify strategies
solving prolems
pursuing oppurtunities
reflection tasks
understanding
feelings
entrepreneur
progress
entrepreneurial process
SUSTAINABLE ENTREPRENEURSHIP
focused
(
sustainability
)
preserving
nature
life support
community
pursuit
(
entrepreneurial action
)
perceived oppurtunities
create
future
products
services
for gain
(
development
)
e.g.
include
economic benifits
non-economic benifits
to
individuals
economy
society