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ASU ASU 101 - Entrepreneurship at ASU

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© 2007 Arizona State University© 2007 Arizona State UniversityVenture to Make Venture to Make YourYourMark!Mark!www.asu.edu/asu101Presenter Name, Ph.D.Presenter Title,Arizona State University© 2007 Arizona State University© 2007 Arizona State UniversityEntrepreneurship at ASU• Involves all majors and disciplines• Leverages university knowledge• Spurs social development and economic competitivenessLearn about Entrepreneurship at ASU:http://www.asu.edu/ui/entrepreneurship/about/© 2007 Arizona State University© 2007 Arizona State UniversityDefinition: Entrepreneurship“The Spirit of Creative Risk Taking”Creating new ventures that generateand capture value by realizing opportunities through creativity, innovation, knowledge, skill and passionwhile managing resources and risks!Entrepreneurship Entrepreneurship is the act of:is the act of:© 2007 Arizona State University© 2007 Arizona State UniversityThe Entrepreneurial ProcessOpportunities:Problems, Unmet Needs, Hidden DesiresMy Core CompetenciesValue GenerationValue CaptureThe GlobalContextWhat is my passion?What do I do well?Impact:My MarkCustomersProductsServicesProjectsCompetitionResourcesRisksPlansVenture Creation© 2007 Arizona State University© 2007 Arizona State UniversityThe Global ContextEnvironmentEconomySocietyPeople, Planet & Profits© 2007 Arizona State University© 2007 Arizona State UniversityGlobal Economic Context• The Ten Forces– Fall of Berlin Wall– Netscape IPO– Work Flow Software– Open-Sourcing– Outsourcing– Offshoring– Supply-Chaining– Insourcing– In-forming– The Steroids• The Triple Convergence– Global Web-Enabled Playing Field– Horizontal Collaboration– 3 Billion People In the GameSource: Friedman, Thomas L. (2005). The World Is Flat: A Brief History of the Twenty First Century. (Second Edition). New York: Farrar, Straus, Reese and Giroux.© 2007 Arizona State University© 2007 Arizona State UniversityGlobal Environmental Context• System-Wide Stress– 6 to 9 Billion people– 2x built infrastructure– 50% to 70% urban– Coal plant per week– Resource depletion– Epidemics & disease– Global warmingSource: Lovelock, James (2006). The Revenge of Gaia: Earth’s Climate Crisis and the Fate of Humanity. New York: Basic Books.© 2007 Arizona State University© 2007 Arizona State UniversityGlobal Social ContextSouthNon-whitePoorPop. GrowingLow-TechAppropriate TechnologyNorthWhiteRichPop. SlowingHi-TechHPSUBottom of the PyramidTop of the PyramidTwo Worlds• 2B < $2 / day• 1B lack water© 2007 Arizona State University© 2007 Arizona State UniversityOpportunityEnvironmentEconomySocietyPeople, Planet & ProfitsProblems?Opportunities?© 2007 Arizona State University© 2007 Arizona State UniversityVenture CreationIndustry Entity ProjectConsumer Product Company Single ProductArts Theatre Company A FilmPolitics Movement CampaignSocial Service Food bank An Affordable HouseArchitecture Architectural firm A Great BuildingAthletics New League An EventScience Research CompanyAn Innovative Research GrantFor-Profit, Non-profit (NGO), Governmental, “Fourth Sector” Hybrid© 2007 Arizona State University© 2007 Arizona State UniversityValue Generation and Capture Your Mark: The Triple Bottom LineECONOMICRevenueIncomeProfitabilityReturn on InvestmentStakeholder ValueSOCIALEmploymentHealth & SafetyDiversityEducationArts & CultureCommunityQuality of LifeENVIRONMENTALEnergy EfficiencyWater AvailabilityWater EfficiencyWaste ReductionGreenhouse Gas ReductionCarbon Footprint ReductionBiodiversitywww.globalreporting.org© 2007 Arizona State University© 2007 Arizona State UniversityCore Competency• “…fundamental knowledge, ability or expertise in a specific subject area or skill set…”– Whatis.com• “…something that a firm can do well and that provides customer benefits, is hard for competitors to imitate, and can be leveraged widely to many products and markets.”– Hamel and Prahalad (1990):© 2007 Arizona State University© 2007 Arizona State UniversityIdeasIdeasOne of the earliest theories of creativity considers it to be a divine glow. James L. Adams in his book Conceptual Blockbusting says “However, for most of us, creativity is more of a dull glow than a divine spark. And the more fanning it receives, the brighter it will burn.” [p.10].© 2007 Arizona State University© 2007 Arizona State UniversityCreativityCreativityLike anything else, there are those who are exceptionally creative because they have a special talent---the da Vinci’s, the "born teachers", those who don’t need business plans.For most of us, however, excellence requires sense of vocation, dedication, discipline and hard work.No secret to success will work unless you do.© 2007 Arizona State University© 2007 Arizona State UniversityInnovation• “The application of knowledge in a novel way…”– Innovation: Transforming the way business creates, An Economist Intelligence Unit White Paper• “The introduction of something new”– Dictionary.com• The primary mechanism by which economic growth is created through “Creative Destruction”– Schumpeter, 1934© 2007 Arizona State University© 2007 Arizona State UniversityCompetitive AdvantageCompetitors• Direct• New Entrants• Substitutes• Do NothingElements of Advantage• Cost• Differentiation• Quality• Brand Loyalty• Customer Relationships• Other Relationships• Market PresenceWhy will you do better than your competitors?© 2007 Arizona State University© 2007 Arizona State UniversityResources & RisksResources• Money• People• Time• Social Network• Technology• Plant & Equipment• FacilitiesRisks• Market• Strategy• Plan Risk• Execution• Financial• Technology© 2007 Arizona State University© 2007 Arizona State UniversityA Poetic Approach to EntrepreneurshipI. VISION - Alice's Adventures in Wonderland, Lewis CarrollII. PLANNING - Just-So Stories, Rudyard KiplingIII. PERSISTENCE - The Men That Don't Fit In, Robert W. Service© 2007 Arizona State University© 2007 Arizona State UniversityWhere do we want to be?Where do we want to be?“Would you tell me, please, which way I ought to go from here?”“That depends a good deal on where you want to get to,” said the Cat. “I don't much care where,” said Alice. “Then it doesn't matter which way you go,” said the Cat.From Chapter VI Pig and Pepper, Alice's Adventures in Wonderland, Lewis CarrollVisionVision© 2007 Arizona State


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ASU ASU 101 - Entrepreneurship at ASU

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