Entrepreneurship Summary
Lecture 1: Introduction to Entrepreneurship
Part 1: Definitions and forms of eship (Shane) (Kuratko)
Part 2: Importance of eship (Turik)
Part 3: Stages in ep life cycle models (Churchill and Lewis)
Part 1: Definitions and forms of eship
(1) Definition of eship (Shane and Venkataraman 2000): eship is the discovery and
exploitation of entrepreneurial opportunities.
Important issues with the level of newness: how is it new and who is it new to?
Two types of profit opportunities:
Entrepreneurial opportunities: to engage in new activities
Non-entrepreneurial opportunities: to enhance efficiency of existing activities
(2) Definition of eship (Sharma and Chrisman 1999):
E’ship = acts of organizational creation, renewal or innovation inside or outside
an organization.
Entrepreneurs = individuals or groups of individuals, acting independently or
as part of a corporate system, who create new organizations, or instigate
renewal or innovation within an existing organization. *Corporate e-ship lecture
4=product or new production (2 different focus)
Relationship between eship and SME’s
*They are different but co-exist in corporate eship. Not all eship occurs in SME and not
every SME is entrepreneurial.
,Defining SME’s
Two types of definitions (Bolton report, 1971): In the 70’s need to define a target group.
1)Quantitative criteria: statistical conventions that people adhere to.
EU graph (headcount): SME’s, Micro, Freelancer (biggest group 75%), statistical
convention for people to adhere.
2) Qualitative criteria: qualitative characteristics of SMEs
SME’s core characteristics (Bolton 1971, Noteboom 1994):
Small scale: unit cost/production (-)
Personality: costume (+), flexible (+), one man=100 jobs
Independence: from market/stocks = 0 stakeholders, follow your goals/levels
*All these characteristics lead to strengths and weakness of SME’s
Eship Frameworks (Kuratko 2015)
,School of thought framework:
(1) Culture, formal institutions, … (lecture 5)
(2) Capital seeking: sources, investment, … (lecture 3)
(3) Move countries: need based ep’s
*How environment affects ep’s
(4) Psychological: lecture 2
(5) Who sees opportunities vs who pursues opportunities (lecture 4)
(6) Business planning (+) organization: more linked to venture is less flexible
*How ep’s affects the outside
Kuratko 2015
-Entrepreneur: Personality: opportunist, craft man
-Resources: Human, Financial, Knowledge, Intellectual (competitive advantage)
-Concept: What is the business model? How do you make money? How do you create
value?
-Environment: Facilitation/Constrains
-Organizational context: Kuratko fake view
, Sharma and Chrisman lecture 4
Part 2: Importance of eship and SME’s (Thurik, 2013)
Lecture 1: Introduction to Entrepreneurship
Part 1: Definitions and forms of eship (Shane) (Kuratko)
Part 2: Importance of eship (Turik)
Part 3: Stages in ep life cycle models (Churchill and Lewis)
Part 1: Definitions and forms of eship
(1) Definition of eship (Shane and Venkataraman 2000): eship is the discovery and
exploitation of entrepreneurial opportunities.
Important issues with the level of newness: how is it new and who is it new to?
Two types of profit opportunities:
Entrepreneurial opportunities: to engage in new activities
Non-entrepreneurial opportunities: to enhance efficiency of existing activities
(2) Definition of eship (Sharma and Chrisman 1999):
E’ship = acts of organizational creation, renewal or innovation inside or outside
an organization.
Entrepreneurs = individuals or groups of individuals, acting independently or
as part of a corporate system, who create new organizations, or instigate
renewal or innovation within an existing organization. *Corporate e-ship lecture
4=product or new production (2 different focus)
Relationship between eship and SME’s
*They are different but co-exist in corporate eship. Not all eship occurs in SME and not
every SME is entrepreneurial.
,Defining SME’s
Two types of definitions (Bolton report, 1971): In the 70’s need to define a target group.
1)Quantitative criteria: statistical conventions that people adhere to.
EU graph (headcount): SME’s, Micro, Freelancer (biggest group 75%), statistical
convention for people to adhere.
2) Qualitative criteria: qualitative characteristics of SMEs
SME’s core characteristics (Bolton 1971, Noteboom 1994):
Small scale: unit cost/production (-)
Personality: costume (+), flexible (+), one man=100 jobs
Independence: from market/stocks = 0 stakeholders, follow your goals/levels
*All these characteristics lead to strengths and weakness of SME’s
Eship Frameworks (Kuratko 2015)
,School of thought framework:
(1) Culture, formal institutions, … (lecture 5)
(2) Capital seeking: sources, investment, … (lecture 3)
(3) Move countries: need based ep’s
*How environment affects ep’s
(4) Psychological: lecture 2
(5) Who sees opportunities vs who pursues opportunities (lecture 4)
(6) Business planning (+) organization: more linked to venture is less flexible
*How ep’s affects the outside
Kuratko 2015
-Entrepreneur: Personality: opportunist, craft man
-Resources: Human, Financial, Knowledge, Intellectual (competitive advantage)
-Concept: What is the business model? How do you make money? How do you create
value?
-Environment: Facilitation/Constrains
-Organizational context: Kuratko fake view
, Sharma and Chrisman lecture 4
Part 2: Importance of eship and SME’s (Thurik, 2013)
