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Entrepreneurship in Different Context

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8 views

Entrepreneurship in Different Context

Uploaded by

dukshan warawaththa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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MKT 2223: Entrepreneurial Marketing

Entrepreneurship in Different Contexts


Session 02
Entrepreneurship Different Context

Risk Social
Innovation Environmental
Uncertainty Technological
Cultural
Rural
Profit/nonprofit
• process of identifying opportunities,
creating value, and developing innovative
solutions within a variety of settings, each
with its unique conditions, objectives, and
What is challenges.
Entrepreneurship
in Different • These contexts shape the nature of
Contexts? entrepreneurial activities and the
approaches taken by entrepreneurs,
depending on the environment, industry,
or social factors involved.
Why Entrepreneurship in Different Contexts?
• Expands the Scope of Entrepreneurship Education
• Encourages Innovation in Multiple Areas
• Adapts to Changing Global Trends
Diverse Entrepreneurship Contexts

Corporate Entrepreneurship/Intrapreneurship
Serial Entrepreneurship
Social Entrepreneurship
Technopreneurship
Kidspreneurship
Corporate Entrepreneurship

Intrapreneurship
Intrapreneurship creates a space
where employees can use their
entrepreneurial skills to help the
company and themselves.

It gives them the freedom to try new


ideas and grow within the organization.
Intrapreneurs
• Intrapreneurs are employees within a large corporation who act like
entrepreneurs by developing and managing new projects or ventures
for the company.
• They leverage the resources and support of the corporation while
driving innovation from within.

• Ex- Facebook's Like button


Between Entrepreneurship Vs Intrapreneurship
Aspect Entrepreneurship Intrapreneurship
Definition Starting and managing a new Innovating and creating within an
business venture independently. existing organization.
Risk Entrepreneurs bear the full risk, limited personal risk. the company
including financial loss. absorbs most risks.
Funding Own funding receive funding and resources from the
organization.
Ownership The entrepreneur owns the business The company retains ownership of the
and its profits. product or idea.
Rewards Entrepreneurs receive all profits and receive recognition, promotions, or
rewards from the business. bonuses but no direct ownership.
Goal To build an independent business To improve the company’s products,
and generate profits. processes, or services.
Importance
• Corporate entrepreneurship helps established companies stay
competitive in rapidly changing markets.
• It promotes a culture of continuous innovation, leading to the
development of new products, services, and revenue streams.
• Intrapreneurship can improve employee engagement and retention
by providing opportunities for personal and professional growth.
Serial Entrepreneurship
A serial entrepreneur is a person who starts and owns many businesses
but works on only one at a time.

Once they get one business going well, they move on and start another.
The businesses can be in the same field or different areas.
Multiple Ventures- Serial entrepreneurs typically
have a history of founding and running multiple
businesses, often concurrently or sequentially.
Risk-Taking- They are comfortable with risk and
uncertainty, willing to invest time and resources
in new ventures.
Key
Characteristics Experience- Serial entrepreneurs often leverage
their experience, network, and knowledge gained
from previous ventures.
Innovation- They are driven by a desire to
innovate and create, seeking opportunities in
various industries.
Serial Entrepreneur Vs Entrepreneur
Aspect Entrepreneur Serial Entrepreneur
Definition Starts and runs a single business Starts and manages multiple businesses
venture. over time.
Focus Concentrates on one business at a Shifts focus from one business to
time. another after establishing it.
Duration Often dedicated to the long-term Moves on to new ventures after a
growth of one business. business is stable.
Innovation Innovates within one industry or Innovates across various industries and
market. sectors.
Risk Takes risks associated with starting a Takes risks with multiple ventures
new venture. sequentially.
Examples:

• Richard Branson: Founder of Virgin Group, which includes Virgin


Records, Virgin Atlantic, Virgin Mobile, and Virgin Galactic.
• Mark Cuban: Entrepreneur, investor, and owner of various
businesses, including Broadcast.com, Dallas Mavericks, and numerous
other investments.
Social Entrepreneurship

• Social entrepreneurs focus on creating


social or environmental impact rather
than solely pursuing financial profit.

• Their ventures aim to address societal


issues and improve the quality of life for
communities
Characteristics of Social Entrepreneurship
• Social Mission- The main goal of social entrepreneurship is to solve social
problems like poverty, illiteracy, unemployment, women's safety, healthcare,
sanitation, environmental issues, and corruption.

• Innovative and Sustainable Solutions- Social entrepreneurs think that current


solutions often fail to solve these problems effectively. They create new and
practical ideas that can lead to lasting change.

• Entrepreneurial Strategies- Social entrepreneurs use business skills to identify


the root causes of social issues and develop unique solutions to address them,
aiming to make a positive impact on society.
Social Entrepreneurship Vs Charity Organizations
Aspect Social Entrepreneurship Charity Organizations
Purpose To create sustainable solutions for To provide immediate relief or
social issues. support for social needs.
Generates income through Primarily funded by donations and
Revenue Model
products or services. fundraising.
Long-term Impact Aims for lasting change by Often focuses on short-term relief
empowering communities. and support.
Approach Focuses on innovation and self- Relies on donations and grants for
sustaining business models. funding.
Significance of Social Entrepreneurship?
• Technopreneurship, a combination of "technology" and
"entrepreneurship," refers to the practice of leveraging
technology and innovation to create and develop new
Technopreneurship businesses or ventures.

• Technopreneurs are entrepreneurs who focus on technology-


driven ideas, products, or services.
Examples
• Steve Jobs (Apple)- Jobs co-founded Apple Inc. and introduced
groundbreaking products like the iPhone, iPad, and Macintosh.
• Larry Page and Sergey Brin (Google)- They co-founded Google,
revolutionizing internet search and online advertising.
Kidspreneurship

• Kidspreneurship is an educational and


entrepreneurial concept that
encourages and empowers children and
young individuals to explore their
entrepreneurial potential, develop
business ideas, and gain practical
business experience.

• It nurtures the spirit of entrepreneurship


in children, teaching them essential life
skills such as creativity, problem-solving,
and financial literacy.
Key Characteristics
• Hands-On Learning- Kidspreneurship programs emphasize practical,
experiential learning by allowing children to start and manage small
businesses or projects.
• Creativity- Children are encouraged to think creatively, generate
business ideas, and develop unique products or services.
• Financial Literacy- Kids learn fundamental financial concepts, such as
budgeting, saving, and basic accounting.
• Responsibility- They assume responsibilities associated with running
a business, including decision-making and customer interaction.
https://medium.com/hatchworks/sustainable-startups-in-sri-
lanka-78c5a1076cae
Thank you..!

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