entrep

• Innovation


  • Novelty (Gabriel Tarde, late 19th century)
  • The generation, acceptance and implementation of new ideas, processes, products or services (Victor Thompson, 1965)
• Innovation


  • Entirely Novel
  • Positive Impact
  • Technology based
• Breakthrough innovation


  An innovation from inside a company that pushes something to the next level
• Principles guiding breakthrough innovation

  • Global Challenges
  • Unmet needs
  • Future trends
  • Creative destruction
  • Disruption
• Entrepreneur


  Distinct from small business owner
• Differences between entrepreneur and small business owner

  • Risk
  • Big picture ideas
  • Innovation outlook
  • Scalability
  • Vision
• Entrepreneurial mindset


  Entrepreneur's way of thinking that enables them to overcome challenges
• Killers of entrepreneurial mindset

  • Comfort zone
  • Rejection
  • Laziness
  • Fear
  • Doubts
  • Discouragement
• Growth mindset


  Strive to learn for more
• Fixed mindset


  Stick to what they already know
• Traits of entrepreneurial mindset

  • Solution-oriented mindset
  • Problem-solving mentality
  • Adaptability
  • Creativity and innovation
  • Customer-centricity
• Evolution of the entrepreneur

  • Earliest: Trader (Barter system)
  • Middle Ages: Actor (Manage large production projects)
  • 17th Century: Person who entered into contractual arrangement with government
  • 18th Century: Person with capital (venture capitalist) was different to the one who needed capital
  • 19th & 20th Century: Entrepreneur as an innovator (Values addition)
• Richard Cantillon, an English economist, viewed the entrepreneur as a risk taker
• Social Entrepreneurship


  Entrepreneurs with a social mission
• Social Enterprise


  A business that aims to achieve a particular public or community mission (social, environmental, cultural, or economic) and reinvests the majority of its profits into achieving that mission
• Sustainability


  Ability to maintain or support a process over time
• Sustainable Entrepreneurship


  A concept that combines the idea of sustainable development and entrepreneurship
• Ecopreneurs


  A person or entity that provides environmentally friendly services, goods, and technology such as recycling, green construction, or organic food
• Ecopreneurs


  • Protect the environment
  • Has a positive impact on the natural environment
  • Environmental businesses contribute to the environment and make a profit out of their activities
• Shared Value


  Leads to stronger social connections at work
• Triple Bottom Line


  • The process begins when resourceful entrepreneurs identify specific ecological or social problems, recognize opportunities to solve them, and develop triple-bottom-line solutions that can be introduced to the market
  • Captures the essence of sustainability by both measuring the impact of an organization's activities on the world
• The 3P's of the Triple Bottom Line

  • Profit (Economic)
  • People (Social)
  • Planet (Environment)
• Profit (Economic)


  Concerned about their financial standing, but businesses committed to the triple bottom line look at profits in terms of not just what they can do for shareholders, but also how they can help the broader community
• Entrepreneurial Mind-Set


  • Creative
  • Innovative
  • Proactive
• People (Social)


  Focus toward creating value for all stakeholders impacted by business decisions, including customers, employees, and community members
• Entrepreneurial mindset


  The mindset of individuals who are entrepreneurs
• Planet (Environment)


  Concerned with making a positive impact on the planet
• Entrepreneurial cognition


  The cognitive processes and knowledge structures used by entrepreneurs
• Benefits of Triple Bottom Line: "If you look after your people, including employees, customers, suppliers, neighbors, and communities, you are likely to have less employee turnover, more repeat customers, fewer disputes, and more goodwill. If you look after the planet, you are likely to use fewer resources, which can save you money and create less pollution, which will reduce regulatory problems."
• Metacognitive perspective


  The perspective that focuses on the higher-order thinking processes involved in entrepreneurship
• Benefit Corporation


  Promoting sustainable enterprises, heart of the decent work paradigm, contribute to socio-economic progress
• Entrepreneurial experiences


  The experiences of individuals who are entrepreneurs
• Global Marketplace


  • A term used to describe the exchange of goods, ideas, and services uninhibited by geographic borders
  • The global marketplace can be defined as the market in which goods or services created by one country are purchased by one or more other countries
• Corporate Innovation Philosophy


  Encouragement of employees/workers to develop their ideas
• Global Entrepreneurs


  • Are individuals or teams who operate businesses with focus on international markets rather than solely domestic ones
  • Drive innovation and economic growth
• Global Thinking

  • The ability to see the big picture and consider every combination of options to find the optimum one
  • Difference of Global Thinking and narrow Thinking
• Diaspora Networks


  A diaspora, or scattering, occurs when a community of people is dispersed from their native or indigenous territory and settles in another geographic location
• Corporate Entrepreneurship


  Description of entrepreneurial behaviour in an organization
• Diaspora Networks


  • Immigrant Filipino who migrated to other countries to find a source of income and still connect with their family
• Global Organization and Agreements

  • Formed to promote cooperation, trade, and economic integration among countries
  • Create frameworks and mechanisms