MAN 337 Class 3
MAN 337 Class 3 MAN 337
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This 2 page Class Notes was uploaded by Dylan Wood on Friday February 19, 2016. The Class Notes belongs to MAN 337 at University of Texas at Dallas taught by Dr. John Butler in Winter 2016. Since its upload, it has received 23 views. For similar materials see Entrepreneurship and Innovation in Business at University of Texas at Dallas.
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Date Created: 02/19/16
1/26/2016 you process educatio n Entrepreneurship ecosystem Ancient Assyria grew better than places like China and Egypt because of the introduction of science diversify the companies in texas through science o nano technology o biotechnology o computers The entrepreneurial process o instead of senators and presidential candidates saying they can create jobs they should say they can create the infrastructure for entrepreneurs to do well Entrepreneur: o Hoover: “someone who perceives an opportunity and creates an organization to pursue it” Critical factors for starting a new venture If you are laid off you can: o look for a job o start your own o moan and groan Kodak had factory jobs and unions and management this was a classic model o Silicon Valley, Austin, and boston changed bc they created a new model o Kodak failed bc management didn’t respond to the scienc e o Union model has a negative impact on creativity and entrepreneurship Social learning Theory ON THE TEST o posits that learning is a cognitive process that takes place in a social context and can occur purely through observation or direct instruction, even in the absence of motor reproduction or direct reinforcement Shared prosperity ON THE TEST o When Dell went public 898 millionaires with 30 million the bank were created within the company 1/26/2016 o stock options Personal Attributes Hoover said you need a lot of knowledge to make decisions You do not have a safety net of a company o 10 Ds Dream vision of future and ability to implement vision Decisiveness swiftness is the key to success Doeres Implement as quickly as possible determination dedication Devotion love of building institutions details the devil is in the details of all start-ups destiny In Charge of own future dollars Distribute shared prosperity “Co-opetition o people creating a critical mass (ie. Silicon Valley) to learn from each other Sociological Factors o family o age & opportunity o incubators o overall networks Evaluating opportunities: The Odds o only one in ten new enterprise will reach ten years o odds of lasting eight years with oringal owner is one in four o 8 yr survival rate = 50% would be entrepreneurs who are unable to name customers are not ready to start a business. they just have an idea and no customer need
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