Entrepreneurship Dr Ir Bambang Ali Nugroho, MS, DAA bamalnug@yahoo.com 1.

Entrepreneurship Dr Ir Bambang Ali Nugroho, MS, DAA

bamalnug@yahoo.com 1

Entrepreneurship

Economic theory approach Psychological trait personality characteristics approach Social behavioural approach

Economic Theory

Someone that coordinates different factors of production

Entre & prendre (french origin) : one who takes between

Cantillon & Say : landowners, workers & entrepreneurs (central economic actors)

Economic Thinkers

KIRZNER : a middleman who facilitates the exchange

SCHUMPETER : an innovator through the introduction of new technological processes or products

KNIGHT : a calculated risk taker ; someone who is prepared to undertake risk in an uncertain world

Economic Thinkers (cont.)

SHACKLE : someone who is creative & imaginative CASSON : have different skills from others, to make

judgements, to coordinate scarce resources

Psychological Approach

Mc Clelland : Proactivity : initiative & assertiveness (tegas) Achievement orientation : ability to see & act on

opportunities Commitment to others

Entrepreneurial Personality

Mc Clelland’s need for achievement Calculated risk taker High internal locus of control Innovative Ambiguity tolerance Vision

Meredith, et al

Self-confidence Risk taking activity Flexibilty Need for achievement Strong desire to be independent

Important Traits

Need for achievement Internal locus control High propensity for risk taking Need for independence Deviants Innovative behaviour

Measurement Problems

Characteristics are not stable & change over time There are subjective judgements Concentrating on personality characteristics means

ignoring environmental & cultural influences Placing too much importance personality characteristics

means reducing the role of education & training

The Ability to Learn

Someone who have ability to learn from problem solving & to gain from their business experience

They are often task-oriented Involves learning process : an ability to cope the

with problems & to learn from those problems The concept of double loop learning :a process

which involves examining why the problem occurred & to learn from that process (a process of learning ‘how to learn’)

Entrepreneurial Concept

Terdapat lima pertanyaan dasar berkaitan dengan konsep entrepreneurial, yaitu

(1) What exactly is entrepreneurship? (2) What does it mean to be “entrepreneurial”? (3) Who is the entrepreneur? (4) What an entrepreneurial mindset? (5) What’s an entrepreneurial university?

What exactly is entrepreneurship?

Kewirausahaan pada dasarnya memiliki berbagai sifat yang selama ini keliru diintrepretasikan, meliputi:

(a) Not simply the starting and running of a small business;

(b) Not a personality cult; (c) Not magic; (d) Not luck/right place, right time; (e) Not a birthright (f) Not genetic.

a philosophy of life

Kewirausahaan adalah a manageable process, a philosophy of life, a way of thinking atau a way of acting. Dengan kata lian kewirausahaan adalah

“The process of creating value by bringing together a unique package of resources to exploit an opportunity” atau “The pursuit of opportunity without regard to resources currently controlled”

a manageable process

A manageable process meliputi berbagai aktivitas, yaitu (1) Identify an opportunity, (2) Develop a business concept, (3) Assess the required resources, (4) Acquire the necessary sources, (5) Implement and manage, (6) Harvest the venture.

Life Experience Ambiguity, Stress, Excitement, Uncertainty, Responsibility, Self-reliance, Adaptation, Discipline, Change Learning.

Entrepreneurial Mindset

Untuk menjadi seorang wirausaha yang berhasil maka diperlukan kombinasi tiga aspek meliputi

INNOVATIVENESS, RISK-TAKING PROACTIVENESS, ketiga aspek tersebut merupakan komponen dari

entrepreneurial mindset.

4 Jenis Entrepreneur

Sumber : Ciputra (2008)

Behavioural & Skills

Disamping itu, terdapat beberapa kunci sukses berkaitan perilaku dan ketrampilan seorang wirausaha, yaitu

Ability to learn, Social abilities, Adaptation, Guerrilla capabilities Growth propensity

Entrepreneurial Mindset

Seorang wirausaha memiliki entrepreneurial mindset, yang meliputi

Passionate pursuit of new opportunities Pursuit of opportunity with enormous discipline and tenacity Prioritizing opportunities and not exhausting oneself or resources

by pursuing every one of them Focus on execution and adaptation Tolerance of failure and learning from failure Spreading the entrepreneurial spirit to a team Healthy dissatisfaction/what did you see that could be better?

A lifetime philosophy…

Kewirausahaan merupakan lifetime philosophy, yang antara lain memiliki sikap meliputi:

Can Affect Change, There is a Better Way, Opportunities are Everywhere, Define Innovation and Growth Failure is Learning. Pursuing Opportunity, Innovating, Perseverance (tekun/keras hati)

Teaching, Research & Service

TEACHING

RESEARCH SERVICE

TEACHING

RESEARCH SERVICE

Evolusi PT Menuju Entrepreneurial University

Entrepreneurial University

TeachingService

Research

TeachingResearch

Service

TeachingResearch

Service

Teaching University

Research University

Entrepreneurial University

TeachingService

Research

TeachingResearch

Service

TeachingResearch

Service

Teaching University

Research University

Entrepreneur

An entrepreneur is an individual who accepts financial risks and undertakes new financial ventures.

The word derives from the French "entre" (to enter) and "prendre" (to take).

Entrepreneurs, driven by an intense commitment and determined perseverance, work very hard. They are optimists who see the cup as half full rather than half empty. They strive for integrity. They burn with the competitive desire to excel. (Donald F. Kuratko and Richard M. Hodgetts)

Characteristics of Successful Entrepreneurs

Opportunity seeking Persistence Commitment to work contract Demand for quality and efficiency Risk taking Goal setting Information seeking Systematic planning and monitoring Persuasion and networking Self-confidence

Three Types Of Entrepreneurs:

TECHNOLOGY ORIENTED: Engineering, Manufacturing, Marketing, Financing

MOTIVATION ORIENTED: Personal Motivation, Organizational Motivation, education, training, personal evaluation, employees’ share holding, communication with employees and their families.

STRATEGY ORIENTED: Organization Strategy, Corporate Strategy.

All definitions tell us who the entrepreneurs are and what they do.

They refer to unique superpeople, Who react rationally to given and possible circumstances in order to grow and to make profit.

bamalnug@yahoo.com 28Source: Professor Björn Bjerke

LOOKING AT SOCIETIES FROM AN ENTREPRENEURIAL POINT OF VIEW WE CAN DISTINGUISH THREE SECTORS IN ALL OF THEM:

PUBLIC SECTOR: entrepreneurs here try to come up with better use of the government budget in a society.

MARKET SECTOR:

entrepreneurs here try to come up with new products and/or services for anyone to buy at their own choice.

SOCIAL SECTOR: entrepreneurs here try to preserve, maintain and develop the cultural capital of a society.

And most societies look different in these respects!

MAKE A DISTINCTION BETWEEN:

ENTREPRENEUR

Long-term thinking

A set of attitudes to life Requires mental skills

MANAGER

Short-term thinking

A profession

Requires technical skills

Different stages of the development and progress of a new business need a different mix of management, leadership and entrepreneurship!

Definition of EntrepreneurshipClassic Definition by Joseph A. Schumpeter:

Development as carrying out of new combinations: introduction of a new good introduction of a new method of production opening of new market conquest of a new source of supply of raw materials

or half-manufactured goods carrying out of the new organization of any industry

ENTREPRENEURSHIP IS TODAY A MULTIDISCIPLINARY SOCIETY

Even if entrepreneurship has obvious economic consequences (like providing jobs and securing our economic welfare), we should not only (or maybe not even primarily) understand it economically, but politically, culturally, sociologically, geographically and more.

Management is a profession. In order to be a good manager, you need ”technical” skills

Leadership is a role. In order to be a good leader, you need social skills

Entrepreneurship is a disposition, an approach to life itself. In order to be a good entrepreneur, you need mental skills

Knowledge and skills needed for successful entrepreneur

SUCCESSFULENTREPRENEUR

Ability to make visions and strategic plans

Managing Different Areas of making Business (knowledge and skills)Marketing and sales,R&D, finance, legal affairs, managing projects …, understanding of whole business entity, how to integrate different parts to a whole

Starting your own BusinessCritical evaluation of ideas for new businesses, making business plan, ability to manage the starting process

Identification of OpportunitiesCreativity, understanding of clients´ needs, recognizing emerging areas for new businesses

EthicsEthically high level behaviour, honesty, sense of responsibility, fulfilling contracts

Entrepreneurship as a career of lifeAttitudes towards life, do you like or dislike being an entrepreneur, to understand good and bad sides being entrepreneur, positivism, sincerity, strong and realistic self-confidence, ability to make decisions

Skills of Human RelationshipsDeveloping a team, team management, how to sell the vision to the team, leadership, how to integrate my and team´s know how, respect for other team members, make no difference between people

Risk Management and Syndicating

©Juhani Ylikerälä

Risk Factor

Entrepreneur is a risk taker but not a gambler Calculated vs. uncalculated risks Dealing with uncertainty, the entrepreneur has to identify,

assess, evaluate, manage & transfer risk Risks (productions, financial, marketing, legal, human

resource) Not taking a risk is also a risk (self of establishment,

status-quo)

Innovation

Managing change More than just pure scientist Have the additional skills & ability to recognize the

commercial application of technological advance Invention –> Innovation –> Diffusion As all activities that give rise to a new product or

process of production

Innovation (cont.)

The first commercial application or production of a new process or product

The transformation of an idea into a new or improved saleable product or operational process in industry or commerce

Can be categorized into product & process innovations

Innovation Stages

Basic research : generates new knowledge Invention : application knowledge (a prototype model) Development of final product Absorption of technology into society Exp : vegeta, kaki-tiga, dvd, DNA-computer, HD-

terrabyte, communication via electric cable, position car microchip, digital camera, nuclear by product storage at gobi desert, etc.

Risk & Uncertainty

The opportunity of profit arises out of uncertainty surrounding change

If change is perfectly predictable then no opportunity for profit exists

The entrepreneur is someone who is prepared to undertake risk in an uncertain world

Risk exists when we have uncertain outcomes but those outcomes can be predicted with a certain degree of probability

True uncertainty arises when the probability of outcomes cannot be calculated

Managers vs. Leaders

Managers vs. Leaders (Cont.)

Leadership Qualities

Often described in terms of personal attributes, such as:

• intelligence• energy• initiative• enthusiasm• creativity

Leadership Qualities (Cont.)

Leadership Is:

• More than a personal attribute, a quality of personality, or a character

• A role determined by expectations of a group of people or an organization

Expectations of a Leader:

• Enable the group or organization to fulfill its mission

• Hold it together as a working unit

• A leader is a person who has the appropriate qualities knowledge, and skills to lead a group to achieve its objective

The Leadership Character (Turknett, 2005)

INTEGRITY

RESPECT RESPONSABILITY

1. EMPATHY

2. LACK OF BLAME

3. HUMILITY

4. EMOTIONAL MASTERY

1. ACCOUNTABILITY

2. SELF-CONFIDENCE

3. COURAGE

4. FOCUS ON THE WHOLE

Characteristics & Functions of a Leader

Five Distinctive Characteristics of Leadership

1. Sense of direction

2. Teamwork

3. Inspiration

4. Example

5. Acceptance by others

Functions of a Leader

1. Challenge the process

2. Inspire and share vision

3. Enable others to act

4. Model the way

5. Encourage the heart

Triple H & D.U.I.T.

Hoki (luck) Hoping (network, not a single fighter) Hongsui (ergonomic ; location ; layout) Plus : right time Doa ; Usaha ; Ilmu ; Tawakal (DUIT)

Do You Know the Secrets of Career Success?

Rule 1: Motivation Is the Key to Success Rule 2: Success Takes Hard Work Rule 3: Follow Your Dream Rule 4: Honor Your Talents (Understanding Yourself) Rule 5: Manage Yourself (Controlling & Using Your

Emotions) Rule 6: Take Calculated Risks (No Risk, No Reward) - not

taking a risk is also a risk

“Where you stand depends on where you sit.”

The point is that your perspective on life is heavily colored by what you do for a living.

If something can go wrong, it will, so the past is an imperfect guide to the future.

There Are No Perfect Career Choices There is no one right answer to the question “what do you

want to be when you grow up?” Nor is there any cookie-cutter formula for success.

GOOD CHOICES ARE INDIVIDUAL CHOICES. “Before everything else, getting ready is the secret of

success.”

Having Fun in Your Life Having Fun in Your Life : (Set smile goals for each and every

day) & Don’t worry. Be happy. Laughter Really Is the Best Medicine Laugh in the Face of Fear (“I laugh because I must not cry.”) Finding Everyday Fun From Play to Success (the relationship between fun and success) What Delights You? By choosing subject matter that delights you,

your day will automatically go more easily. Take on a New Adventure Improve Your Social Life (Besides the intrinsic interest and

excitement, it can also create more dynamic personal relationships).

Entrepreneurship Dr Ir Bambang Ali Nugroho, MS, DAA bamalnug@yahoo.com 1.

process of learning

manageable process

risk takingneed

entrepreneurial mindset

personality cult c

economic thinkerskirzner

opportunity atau

way of thinking atau

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