LECTURES ENTERPRISING BEHAVIOR
Lecture 1
Opportunity-centered entrepreneurship
The process of how people learn whilst exploring and working on opportunities.
Includes 4 clusters of activities:
Personal enterprise – connecting opportunities with goals and identity.
o Starting a venture is relational; it involves other people and their interests too
o 97% of economy is made up of small businesses, which all started as young
ventures (freelancers are entrepreneurs too)
o What ‘counts’ as entrepreneurship changes throughout time and cultures
Creating and exploring opportunities
Planning to realize opportunities
Acting on opportunities
Enterprising way of life
Pros Cons
1. Greater freedom 1. Doing everything – coping with
2. More autonomy to make things wider range of management tasks
happen 2. Personal assets and security more
3. Rewards linked more at risk
directly/immediately to the 3. The ego more widely exposed
customer 4. Living day to day with greater
4. Wider interdependence on a range uncertainty
of stakeholders 5. Greater vulnerability to the
5. ‘Know who’ becomes much more environment
important - to build trust 6. Working longer and more variable
6. Social, family and business life hours
more highly integrated 7. Loneliness
7. More learning by doing, under
pressure (more tacit than explicit)
Triadic model of entrepreneurial learning
1
, Personal and social emergence of entrepreneurial identity
Narrative construction of identity: the stories people tell about themselves and their
experiences
Role of the family: gender, cultural and family expectations of enterprising
Identity as practice: useful application of abilities and skills in society
Tension between current and future identity: dissatisfaction which can lead to enterprising
behaviour
Contextual learning
Immersion within industry or community: experience leads to intuitive capability, skills,
expertise and contacts
Opportunity recognition through participation: combining social knowledge with creative
imagination of the future potential of ‘what could be’
Practical theories of enterprising behaviour: ‘what works for me is…’ – applying experience
to make things happen and to reduce risks
Negotiated enterprising
Participation and joint enterprising: working with others to create and exploit opportunities
Negotiated meaning, structures and practices: shared culture, employee engagement, ‘what
works for us’
Changing roles over time: do people grow with the project?
Engagement in external networks: cultural identity and social capital of the project is formed
through external relationships
This model is limited in the kinds of entrepreneurship is not really specialized. It is only
about the sources of those believes of entrepreneurship.
Developing SMART goals
Specific, Measurable, Attainable, Relevant, Time.
Entrepreneurial and management capabilities
Personal organisation – effectiveness and energy
Interpersonal interaction – social competence
Investigating opportunity – find, explore and select opportunities
Applying innovation: new ways of meeting needs
Strategic venture planning: successful planning & resource capture
Market development: defining and selling to target markets
2
Lecture 1
Opportunity-centered entrepreneurship
The process of how people learn whilst exploring and working on opportunities.
Includes 4 clusters of activities:
Personal enterprise – connecting opportunities with goals and identity.
o Starting a venture is relational; it involves other people and their interests too
o 97% of economy is made up of small businesses, which all started as young
ventures (freelancers are entrepreneurs too)
o What ‘counts’ as entrepreneurship changes throughout time and cultures
Creating and exploring opportunities
Planning to realize opportunities
Acting on opportunities
Enterprising way of life
Pros Cons
1. Greater freedom 1. Doing everything – coping with
2. More autonomy to make things wider range of management tasks
happen 2. Personal assets and security more
3. Rewards linked more at risk
directly/immediately to the 3. The ego more widely exposed
customer 4. Living day to day with greater
4. Wider interdependence on a range uncertainty
of stakeholders 5. Greater vulnerability to the
5. ‘Know who’ becomes much more environment
important - to build trust 6. Working longer and more variable
6. Social, family and business life hours
more highly integrated 7. Loneliness
7. More learning by doing, under
pressure (more tacit than explicit)
Triadic model of entrepreneurial learning
1
, Personal and social emergence of entrepreneurial identity
Narrative construction of identity: the stories people tell about themselves and their
experiences
Role of the family: gender, cultural and family expectations of enterprising
Identity as practice: useful application of abilities and skills in society
Tension between current and future identity: dissatisfaction which can lead to enterprising
behaviour
Contextual learning
Immersion within industry or community: experience leads to intuitive capability, skills,
expertise and contacts
Opportunity recognition through participation: combining social knowledge with creative
imagination of the future potential of ‘what could be’
Practical theories of enterprising behaviour: ‘what works for me is…’ – applying experience
to make things happen and to reduce risks
Negotiated enterprising
Participation and joint enterprising: working with others to create and exploit opportunities
Negotiated meaning, structures and practices: shared culture, employee engagement, ‘what
works for us’
Changing roles over time: do people grow with the project?
Engagement in external networks: cultural identity and social capital of the project is formed
through external relationships
This model is limited in the kinds of entrepreneurship is not really specialized. It is only
about the sources of those believes of entrepreneurship.
Developing SMART goals
Specific, Measurable, Attainable, Relevant, Time.
Entrepreneurial and management capabilities
Personal organisation – effectiveness and energy
Interpersonal interaction – social competence
Investigating opportunity – find, explore and select opportunities
Applying innovation: new ways of meeting needs
Strategic venture planning: successful planning & resource capture
Market development: defining and selling to target markets
2
