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Seminar in International Business - Coggle Diagram

- - - - 3 needs: need for achievement, need for power and need for affiliation
      - 3 attributes for success in new ventures (1) positive response to challenges and misatkes (2) personal initiative (3) perseverance -
        J.A Hornaday & NB Tieken 1982 - Capturing 21 Heffalumps
      - core vs desirable entrepreneurial attributes - opportnuity obsession vs capacity to inspire, commitment vs intelligence, tolerance of risk vs values
      - creativity & innovation vs general management skills, busines sknow-how and networks (1) promoter (2) inventor or manager (3) entrepreneur
    - - 7 themes of desirable and acquirable attitutes and behaviours: (1) commitment and determination (2) courage (3) ledersip (4) opportunity obsession (5) toleraance f risk (6) creativity, self reaiance and adaptibility (7) motivation to excel
    - - role of opportunity recognition in entrpreneurship
        
        source of opportunity
        
        prior work, network, thinking by analogy Zietsma, Charlene, 1999, Opportunity knocks or does it hide
        
        type of opportnunity
        
        niche expansion, underserved niche, better technology, customer need, firms need
    - - more than half of business startres had entrepreneurila parents (a new look at bsiness entry, cooper & dunkelberg
  - - - a way of thinking,, reasoning and acting that is opportunity obsessed, holistic in approach and leadership balanced for the purpose of value creation and capture
    - - (1) it takes money to make money (2) an opportunity with low or no perceived calue van be a very big opportunit (3) entrepreneurship requires thought and planning, yet it's unpredictable (4) for creativity and innovation to prosper, discipline needs to be applied (5)the greater the organization and control, th eless you'll control the destiny - if IM in total control, im going too slow (6) to realize long term value ppl have to forgo tempations of short term profit
    - - 1-24 > 53.6% , 25-49 > 68% , 50-99 > 69% , 100-249 > 73.2%
        bizminer 2002 Startup business risk index
    - - 3 critical factors (1) opportunition evaulaion (2) resource marshaliing (3) enrepreneurial team formation
      - fit & balance
  - - - continuous work, not the end goal
    - - (1) executive summary (business concept, business opportunity & strategy, target amrket & projections, competetive advantage, team, offering) (2) industry, company, products/services, entry & growth strategy (3) market research & analysis (customers, market size and trends, competition a, est market share and sales, ongoing market evaluation (4) economics of the business (gross & oeprating amrgins, profit potential and durability, fixed, variable, semivariable costs, months to breakevem. months to reach positve CF) (5) Marketing plan (mktg startegy, pricing, sales tactics, service & warranty policies, advertising & promotion, distribution) (6) design and development plans (development status and tasks, difficulties and risks, prodcut improvement and new products, costs, proprietary issues) (7) manufacturing and oeprations plan (operating cycle, geo location, facilitires, startey and plans, regulatory and legal issues (8) management team (9) sustainabaility & impact (sustainability issues, environment, impact on community (10) overall schedule (11) critical risks, problems and assumptions (12) the financial plan (13) proposed company offering (desired financing, offering, capitalization, use of funds, investors return)
- - - - Business plans: everybody has a plan until they get unched in the mouth, no one besides VCs and Soviet union wants a detailer BP, startups need to go quickly, always adapting from customers feedback and not being constrained by a BP
      - business model - key difference between a company and a starpup :: startups a temporaray organization designed to search for a repeatable and a scalable busines smodel
      - 1st key principle: instead of a BP, fill uot a business model canvas - sketch your hypothesis
      - 2 key principle - validate the BMC from partners and customers - customer development listen to cusomers
      - 3rd key principle - agile developemnt - **quick responsie developemt - create minimum viable products to test and they nadogradnja based of off market feedback
  - - - causal vs effectual
    - - approach to the customer: causal approach - (1)market definition (2) segmentation (3) targeting (4) positioning (5) customer
        effectual approach (1) customer identification (through the 3 means) (2) customer definition (through startegic partnerships & selling) (3) adding segments / strategic partners (4) definition of one or servl potentil markets
    - - the affordable loss principle
      - strategic partnership principle
      - leveraging contingiencis principle
    - - entrepreneurs realize that the future depends so much on how people shape it that there is no need for predicting it, rather than just making it. --- to the extent that we can predict the future, we can control it vs to the extend that we can control the future, we do not need to predict it
      - suicide quadrant
  - - - Service-dominant logic: reactions, reflections and refinements (V & L) - evolving, new dominant logic of marketing
        
        Why SD logic? - the process rather than the output,
        
        firms & customer as resource integrators - value creation through resource integration
        
        Co-creation of value as distinguished from co-production - customer is co-creator of value; (goods are distribution mechanisms for service provision
        
        Central role of networks and interaction in value creation and exchange - since service-for-service implies both parties are both value-creators and value-beneficiaries, the implication is that offerer/customer, supply/demand distinction vanishes
    - - Effectiation: A Logic of Entreprenurial Expertise
      - Predictive Rationality & Effectuation
      - Expertise
    - - effectual logic (1)relational (2)network oriented (3) equity driven (4) cocreational (5) human centered (6) operant source based
      - Resource-advantage theory (general theory of competition) / Resource based view The coparative advantage theory of competition - Hunt & Mosrgan 1997 -- the ration between relative resoucre cost and relative recsource produced value give the ultimate competitive advantage or disadvanatge
        
        resources su valuable, difficult to imitate, rare and cannot be substitued, and as such are the primary source of company's competetive advantage
        
        effectual logic is recource based but it differs from the; ne odbaciuje resources na početku iako njihov percieved value moze biti nizak, jer ono što se radi s njima matters ( kava u 70-im<Starbucks danas)
  - - - experienced team taht has worked together before
      - opportunity -
        
        industry question - (1) is the total market fot the ventures product or srvice large, rapidly growing or both? (2) is th eindustry now, or can it become more structurally attractive
        
        economics of the business - - (1) buying resources (2) paying for resources (3) how long until new customer (4) how long until customer pays (5) how much capital equipment to support a dollar of sales buy low, sell high, collect early, pay late
        
        scalability of the busienss adn expanding teh product lines
        
        comeptition (1) who are the currect comeptitors (2) what resources do they control, what are their S & W? (3) how will they repsond to a new competitor (4) how can a new venture respond to the competitors response (5) who else micht observe and explint as well (6) forming alliances?
      - context
        
        macroecominic environment
        
        govmnt rules and regualtions
      - risk & reward