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February 23, 2009 at 12:24 pm · Filed under Reflection

These blog will help a student like me to understand the worl and mind of entrepreneurship. I found out that forming a venture is not easy as what I thought, there is a process called the entrepreneurial process which should be followed to create a new venture. Opportunity is the first important in the process. To identify this opportunities there are sources that will help you classify in to two, the formal mechanisms and the informal mechanisms. The tools in opportunity that was discussed in these chapter helps me a lot to identify opportunities in starting a venture. The tools is composed of technology, market changes, competition or changes in government regulation. We must consider these following factors.

I learned also that the entrepreneurial and managerial styles are different from one another. These differences are classified according to the five key business dimensions. These two have contributed toward an increased interest in intrapreneurship which is a great deal. Intrapreneurship is most strongly reflected in entrpreneurial activities as well as in top management orientations in organizations.These entrepreneurial endeavors consist of the key elements which are new business venturing, innovativeness, self renewal and proactiveness.

Entrepreneurs, Traditional managers, Intrapreneurs were compared according to primary motives, time orientation, Activity, Risk Status, Failure and mistakes, Decisions, who serves, family history, relationship with others. So because of these comparison I found out that the intrapreneurs and entrepreneurs are moderate risk takers while managers are much more cautious about taking any risk.

Leaders who have appropriate characteristics are also important in an organization like the Intrapreneurial Leadership Characteristics such as understands the environment, Is visionary and flexible. Creates management options, Encourages teamwork, open discussion, Builds a Coalition of supporters, Persists.

The Entrepreneurial and Intrapreneurial mind is an important topic to better understand Entrepreneursip especially when a young one like us is planning to start a new and unique venture.

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