Executive Summary
ENT 526 – ENTREPRENURAL BEHAVIOR
(WEEK 1)
What is an Entrepreneur?
* Someone who recognizes an opportunity, to act, and to improve the happiness around him/her. * The definition is accumulated by a set of examples of entrepreneurial behavior.
There is a direct correlation between the size of the problem (how many people suffer from it) and the quality of the solution.
Angel Investors use their own money to finance other business ventures.
Adversarial Quotient measures the ability to ‘get up’ from hardship. * High levels mean that ‘you can keep getting knocked down’ but always managed to get back up. * How well one can withstand adversity and how they overcome it with success. *
Locus of Control deals with how a person views the world – someone who takes responsibly for his or her action or one who blames other people for their actions. * If someone has a high locus of control, accept responsibility for their universe and whatever happens to them. * Locus of Control refers to an individual's perception about the underlying main causes of events in his/her life * Internal Locus of Control - Individual believes that his/her behavior is guided by his/her personal decisions and efforts * External Locus of Control - Individual believes that his/her behavior is guided by fate, luck, or other external circumstances * Entrepreneurs have high levels of internal locus of control
“If you haven’t failed, you are not trying hard enough”
“Challenge yourself as an entrepreneur or else why try?”
Case Study #1 – Richard Branson
* New Youth Magazine (Student) – tried to use the magazine to change the world (established during the 70s when the hippies were beginning to come out) * Became a business and editorial success * Developed a student advisory program to encourage the youth to solve their problems etc. (Discussed homosexuality, abortion) * * Started Virgin Records
(WEEK 1)
What is an Entrepreneur?
* Someone who recognizes an opportunity, to act, and to improve the happiness around him/her. * The definition is accumulated by a set of examples of entrepreneurial behavior.
There is a direct correlation between the size of the problem (how many people suffer from it) and the quality of the solution.
Angel Investors use their own money to finance other business ventures.
Adversarial Quotient measures the ability to ‘get up’ from hardship. * High levels mean that ‘you can keep getting knocked down’ but always managed to get back up. * How well one can withstand adversity and how they overcome it with success. *
Locus of Control deals with how a person views the world – someone who takes responsibly for his or her action or one who blames other people for their actions. * If someone has a high locus of control, accept responsibility for their universe and whatever happens to them. * Locus of Control refers to an individual's perception about the underlying main causes of events in his/her life * Internal Locus of Control - Individual believes that his/her behavior is guided by his/her personal decisions and efforts * External Locus of Control - Individual believes that his/her behavior is guided by fate, luck, or other external circumstances * Entrepreneurs have high levels of internal locus of control
“If you haven’t failed, you are not trying hard enough”
“Challenge yourself as an entrepreneur or else why try?”
Case Study #1 – Richard Branson
* New Youth Magazine (Student) – tried to use the magazine to change the world (established during the 70s when the hippies were beginning to come out) * Became a business and editorial success * Developed a student advisory program to encourage the youth to solve their problems etc. (Discussed homosexuality, abortion) * * Started Virgin Records