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How Business Management
benefit from Entrepreneurship
Opportunities recognition
Matthijs Hammer
Senior lecturer Entrepreneurship
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Evolution of Business
models
majority of the business management
models stay unchanged. E.g.:
•Abell (Abell &Hammond, 1979)
•Deming (Deming, 1982)
•Mc Gregor (McGregor, 1960)
•Mintzberg (Mintzberg, 1979)
•Porter (Porter, 1980)
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new ventures, small businesses and
entrepreneurship are a major factor on
economic growth (Ahmad &
Seymour, 2008; Gries & Naudé, 2009; Schumpeter, 1934; Sijgers,
Hammer, ter Horst, Nieuwenhuis, & van der Sijde, 2005; Thurik &
Wennekers, 2004; Wennekers & Thurik, 1999).
Evolution on economic
development
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Principles of effectuations
decision making heuristics learned by
expert entrepreneurs in uncertain,
disruptive situations
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Means. The basis for decisions
and new opportunities:
– Who I am
– What I know
– Whom I know
Goals vs means
Goals. Given (based on predictions)
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Affordable Loss.
Calculate downside potential and risk no
more than you can afford to lose.
Risk, Return and Resources
Expected Return.
Calculate upside
Potential and pursue the
(risk adjusted) best
opportunity.
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Partnership. Build your “future” together with
customers, suppliers and even prospective
competitors.
Attitude toward others
Competition. Set up transactional
relationships with customers and
suppliers.
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Underlying logic & what to do
To the extent we can predict the
future, we can control it.
⇒ PLAN
To the extent we can control the
future, we don’t need to predict it.
⇒ CO-CREATE
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Conclusion
The adoption of an entrepreneurial
approach of the learning process and the
knowledge of entrepreneurial
methodologies as effectuation seems to
be practical aspects to start.
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For more information, suggestions
or cooperation, do not hesitate to
contact:
m.h.m.hammermsc@saxion.nl
Notas del editor
scholars and consultants do come up with new models and insights, mostly based on case studies (Johnson & Scholes, 1993)
the phenomenon of entrepreneurship is studied. At the end of the last century, the field of study was more from the social science and psychology. After the work of Scott Shane (Shane & Venkataraman, 2000), which was the most quoted article of last decade, the research on entrepreneurship shifted toward behavior and economic (Shane, 2001). From several scholars it is known that entrepreneurs differ in attitude and proceedings from managers.
In the actual used business models the future is predicted, based on situations in the past (Ansoff, 1965). More recent studies show that business is unpredictable (e.g. (Christensen, 1997) and (Mintzberg, 1994)). First evidence of this was found by Saras Sarasvathy (Sarasvathy, 2001). She discovered that enterprising persons think different then managers. In her research, she asked 34 enterprising managers of successful ventures to solve a business problem, thinking aloud. From the transcripts of these sessions, a model of entrepreneurial thinking was build, known as effectuation
Business Management studies can benefit from entrepreneurship education methodologies.
