Awakening the Entrepreneurial Expertise

1. Awaking the Entrepreneurial Expertise Workshop In cooperation with Malta University Delhi September 16 2010 0

2. Premises Two elements in title: - an expertise (trainable) - can be awaken Go beyond regular rational thinking - out of the box - intuition

3. Topics What is entrepreneurship? What is out of the box in entrepreneurship? How is this helpful in entrepreneurship? What is entrepreneurship in your own context? What is intuition and its role in entrepreneurial decision making? What is intuition to me? Entrepreneurship in the Netherlands

4. Question 1 What is entrepreneurship? According to you

5. Question 1 What is entrepreneurship?

6. What is entrepreneurship? The scholarly examination of -how, -by whom, -and with what effects opportunities -are discovered, -evaluated and -exploited (Shane and Venkataraman, 2000).

7. What is entrepreneurship? Stevenson (2001) stresses the process: Entrepreneurship is - the pursuit of opportunity beyond the resources you currently control. - a process, not a person. - an approach to management that starts with an opportunity.

8. opportunities Sarasvathy (2004) contributed by raising the question “whether opportunities exist in the world and need only be recognized or discovered, or whether they are spun into existence from within the minds of the entrepreneurs”, (Sarasvathy, 2004, p.522).

9. possibility versus opportunity What is found in the world is not opportunity but rather possibility. Entrepreneurs use possibility as a tool and fashion it into opportunity through imaginative interaction both with their tools and with the society in which they live.

10. Out there Dr. Sharda Nandram, the Netherlands 9

11. Can be imagined Dr. Sharda Nandram, the Netherlands 10

12. Dr. Sharda Nandram, the Netherlands 11

13. Some examples Is Mr. Narayana Murthy from Infosys an Entrepreneur? Is Mr. AzimPremji from Wipro an Entrepreneur? Is Bill Gates from Microsoft an Entrepreneur? Is Steve Jobs from Apple an Entrepreneur Is Richard Branson from Virgin an Entrepreneur? The Dutch Heineken Beer Dr. Sharda Nandram, the Netherlands 12

14. Question 2 What is out of the box in entrepreneurship? Guided Exercise

15. Guided exercise Instruction I will offer a short survey with statements You decide on your individual preference to each statement After filling in, you discuss about each statement in pairs based on a list of questions

16. Guided exercise: scoring 1 for first statement; 2 for opposite statement; If you change the direction of your choice after the discussion f.e. from 1 into 2 or from 2 into 1; select the option 3 Final score: mention how many times 1; how many times 2; how many times 3

17. Guided exercise: questions Clarify your choice with an example in your professional setting What was it about? How did you behave? What were the impact? Are you satisfied with the impact? Is there room for improvement?

18. Guided exercise: questions What if you would have chosen the opposite statement in this particular setting? How would that change your behavior? What would be the impact according to you? Would you be satisfied with the impact? Which of the two approaches feels more comfortable to you?

19. Guided exercise: statements 1. During a day I will often have the question “what should I do to achieve a certain effect that I have defined” During the day I will often think of “what can I do with the means that are available to me”

20. Guided exercise: statements 2. If something unexpectedly happens to me in my work, I will usually spend time to find out the causes If something unexpectedly happens to me in my work I usually value them as a source of opportunity to do better.

21. Guided exercise: statements 3. I mainly like to discover new ways to achieve goals in my profession I mainly try to create something with existing means

22. Guided exercise: statements 4. Before starting any work I like to define the objectives up front Before starting any work I do not care much about the objectives, the focus on objectives develops while doing the work

23. Guided exercise: statements 5. I tend to do a competitive analysis to work on a task I tend to seek for strategic alliances to work on a task

24. Guided exercise: statements 6. My activities will take form based on pre-existing capabilities and resources My activities will take form based on what my environment offers

25. Guided exercise: statements 7. The teaching that I now provide is essentially the same as originally conceptualized The teaching that I provide is substantially different than I first imagined

26. Question 3 How is this helpful in entrepreneurship?

27. Effectual logic Entrepreneurs simply adopt a different approach of problem solving, a different way of thinking. The Entrepreneur is a broad base free thinker who goes beyond the existing constraints.

28. Effectual logic What assets and connections are available to me What can I do with it Who am I/ who do I know What do I know What am I willing to lose

29. Managerial thinking- causal reasoning Mostly school programs teach causal based on a causal rationality. This rationality begins with a pre-determined goal and a given set of means. Students are then encouraged to seek to identify the fastest and most efficient or optimal way to achieve the goal. The process is converging towards the goal.

30. Strategic thinking – creative causal reasoning Sometimes they are encouraged towards strategic thinking and a form of creative causal reasoning where they show interest for the creation of additional alternatives and means to achieve the given goal. New goals can be created during the process of creating new means. In this mode of thinking there are also pre-determined goals. The process is converging towards the goals.

31. Effectual thinking Effectual thinking however begins with a given set of means and allows goals to emerge contingently over time from the varied imagination and diverse aspirations of the founders and the people they interact with (Sarasvathy, 2001). The goals are not pre-determined but the entrepreneur imagines possible new ends using a given set of means. The process is diverging into several ends.

32. Question 4 What is entrepreneurship in your own context? Exercise in pairs (10 minutes) Plenary discussion

33. Question 5 What is intuition and its role in entrepreneurial decision making?

34. Intuition

35. Dr. Sharda Nandram, Praan Solutions 34

36. Applied to Entrepreneurship- abilities in the invention stage are: thinking about idea / from resources etc thinking about creating a new application for a technological discovery thinking about inventing a product or service to satisfy a need Dr. Sharda S. Nandram, Praan solutions 35

37. Applied to Entrepreneurship- activities in the innovation stage: defining the demand planning on needed resources manufacturing and marketing plans making schemes on actions arrangements and operations defining the team needed and organizing and controlling the activities Dr. Sharda Nandram, Praan solutions 36

38. Bringing in the concept of intuition in entrepreneurship: as a coping style to manage the external stimuli. as a core training part so that it works as an internal resource in all entrepreneurial processes. Intuition is then a key competence in entrepreneurship for which students can get trained. Dr. Sharda Nandram, Praan solutions 37

39. What is intuition according to you? Dr. Sharda Nandram, Praan solutions 38

40. Intuition to me (question 6)? What do people know about their intuition ?- they often think about gut feelings, instinct, mind is limited to grasp the subjective state. How do we knowwhat we knowaboutintuition?- objectivescienceaboutmind and spiritual insightsabout the state beyond the mind. . Dr. Sharda Nandram, Praan solutions 39

41. Intuition to me (question 6)? Objective knowledge: temperature is .. Inner process: my hands feel cold Inner process and identification: Today I am really happy (person = thought) Deeper consciousness (after meditation or deeper relaxation) . Dr. Sharda Nandram, Praan solutions 40

42. Intuition can be helpful in the following situations: The entrepreneur needs to decide fast. The rules entrepreneurs face are ambiguous. There is a complex problem. The information that is available is incomplete. The situation asks for risky decisions. Dr. Sharda Nandram, Praan solutions 41

43. Question 7 How is the Entrepreneurship education in the Netherlands

44. Entrepreneurship in the Netherlands Assumption: Entrepreneurship can be taught or at least part of it First Center for Entrepreneurship Partly funded by Ministry of Economic Affairs: 6 centers Education is the main focus: Programs From Primary school till university graduates Around 73 % of students in the higher education has a positive attitude towards entrepreneurship. Dr. Sharda Nandram, the Netherlands 43

45. Few Dutch programs Student companies The treasury (‘schatkist’) for primary education Certificate Entrepreneurship Innovation camp One day concept of entrepreneurship Business plan competitions Dr. Sharda Nandram, the Netherlands 44

46. H I M A model for Exploring Intuition Dr. Sharda Nandram, Praan solutions 45

47. Netherlands 1985 Jodhpur, India 1901 Suriname 1966

48. bio Professor Entrepreneurship HAN Associate prof. at Nyenrode Business University Founder Praan Solutions sharda@praansol.com Dr. Sharda Nandram, the Netherlands 47

49. DISCUSSION / QUESTIONS?Thankyou 48