Maximilian Stark (mail@dakror.de), WS2018

Stand: 12.01.2019

Introduction to Entrepreneurship and Ethical Business

Introduction to Entrepreneurship

Definition

Core properties

Management strategies

Traditional

Entrepreneurial

Entrepreneurial behavior

Personality

Definition

The Big Five

Findings in entrepreneurship

Motivational Needs Theory (David McClelland)

  1. Achievement
  2. Autonomy
  3. Power

Importance of Entrepreneurial Affect

Creativity

Development of market opportunity from technology

  1. Analyzing tech
  2. Broad problem / application field identification
  3. Decision for single problem / application field
  4. Identification of target customer

Entrepreneurial process

  1. Idea generation
    • Difficulty in judgement of being worthwile, not in generation
    • Hard to imagine novelties
    • Evaluation based on internal models, not rational
    • Uncertainty, countless factors
    • Matching ideas an capabilities
      • Problem scale
      • Relevance to team
  2. Opportunity development
    • Sources
      • Technology Push (TUM Konux)
      • Demand pull (TUM Lilium)
    • Contributing factors
      • Creativity
      • Knowledge
        • previous experience
        • can be restrictive, Creativity to overcome
      • Networks
      • Changes in the Environment
        • Emergence from complex pattern of changing conditions
        • **PEST** conditions: political, economic, societal, technological
  3. Venture or business unit foundation
  4. Growth

Prototyping

Discussions

Decision making: Context for entrepreneurs

Idea development

Goal Setting

Effectuation

Teams

Equity distribution

  1. Criteria
    • Backwards orientation
      • Idea premium
      • Capital contribution
      • Opportunity costs
      • => Certainty about contributions
    • Forwards orientation
      • Prior experience
      • Level of commitment
    • Titles
  2. Timing
    • early split
      • attractive
      • calm negotation before pressure
      • previous experience with co-founders
    • late split
      • commitment more clear
      • future incentives
      • established business model
      • no re-negotations
    • static vs. dynamic split
      • Contribution uncertainty
      • Vesting: Split level change over time
        • time based
        • milestone based
      • Handling early leavers
      • Protection for members

Input-mediators-outcomes

  1. Inputs
    • Prior experience
    • Social capital
    • Personality
    • General mental ability
  2. Mediators
    • Team processes
      • Transitions: Membership changes
      • Interpersonal: Team conflicts
      • Actions
        • Planning
        • Goal setting
    • Emergent States
      • Cognitive
        • Collective cognition
        • Cohesion
      • Affective
        • Team confidence
        • Psychological safety
        • Affective tone
  3. Outcomes
    • Sales growth
    • Profitability
    • Number of employees
    • Innovativeness
    • Satisfaction
    • Well-being

Market Entry

Business model

Growth

Market
*Existing* Penetration Product development
*New* Market development Diversification
*Existing* *New* **Product**

Internationalization