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Entrepreneurial Process
You
Ideas
Concepts
Value
e
nc
ha
En
Ev
al
ua
te
Explore
Experiment / Execute
Financial
Poor timing
Under-capitalisation
Product design
Assuming debt too
problems
early
Inappropriate
Venture capital
distribution strategy
relationship
problems
Unclear business
definition
Managerial
Over-reliance on one
problems
customer
Problems with the
managerial team
HRM problems
Source: Bruno, Leidecker and Harder
In Kurato and Hodgetts (2001)
Managerial Defects
Owners ability to do
Criticality
to
Company
Growth
People, planning
and systems
LOW
Owners ability
to delegate
1
Conception/
Existence
2
Survival
3
Growth/
Success
4
Expansion/
Takeoff
5
Maturity
Entrepreneuial
character
Business
culture
LUCK
Business
decisions
Company
strengths
Feasibility Analysis
Role of feasibility analysis in developing successful business
ideas
Feasibilty 4Ms
Market
Management
Motivation
Money
Assessing Opportunities
Investment: None
Risk:
Return:
Certain
Unpredictable
None
Impact of
change:
Time:
High
High
None
Now
Great
Future
Rae (2007)
INVESTMENT
TIME
RISK
20
20
CHANGE
20
20
RETURN
Opportunity selection
Market
Strategy
Innovation
OPPORTUNITY
SELECTION
Investment
People
Learning
Rae (2007)