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Post-Bac
2

INTRODUCTION

entrepreneurship

Définition

Crowdfunding VS business angel
Crowdfunding : is a way to raising money to finance projects and businesses. Collect small amounts of money from a large number of people via online platforms Business angel : people who invest their money in the initial phase of startups, in exchanges for a participation in capital. They are a role of mentor and offer their consent and their experience to entrepreneurs.
Venture capital VS growth equity
Venture capital : early stage operating companies with unproven business models, invest in a multiple early stage companies within an industry/sector and invest in companies with undefined future capital requirements Growth equity : invest in mature companies with proven business models, invest in the perceived market leader within the industry/sector and limited or no future capital requirements to achieve profitability potential
Startup VS Scaleup
Startup : "is a temporary organization designed to search for a repeatable and scalable business model". - Steve BLANK Startup = unvalidated business model and high growth ambition and very scalable business model Scaleup = market validated business model and high growth ambition and very scalable business model Small business = market validated business model and low growth ambition and/or non scalable business
Invention VS innovation VS creativity
Invention : the process of converting intellectual thoughts into a tangible new artefact (product or process) and ideas are not inventions. Innovation : renewed or altered; innovation = theorical conception + technical invention + commercial exploitation. An innovation can also a product like a service, important to change a lot of things. Creativity : is a process of developping novel and useful ideas. DIVERGENTS VS CONVERGENTS THINKINGS : * Divergent : generate options/ideas * convergent : select the quality of the options/ideas
Entrepreuneurship
"The pursuit of opportunity beyond the ressources you currently control" - Howard STEVENSON, director of the Arthur Rock Center at HARVARD BS

ENTREPRENEURS :


  • The concept of entrepreneur come from of the French word "entreprendre". "One who undertakes" -> is a "manager".
  • Th word "entreprendre" come from of " celui qui entreprends" qui se traduit par "the one who get things done".
  • The economist Lester THUROW writes "entrepreneur ... bring the new technologies and the new concepts into active commercial use". -> They are the change agents of capitalism.


SCHUMPETER'S VIEW OF ENTREPRENEURS :


  • innovation and creativeness distinguished entrepreneurs that other people
  • innovation and and entrepreneurship is interwoven
  • entrepreneur is in the very center of business
  • entrepreneurs create " a cluster of innovation" because create the causes of business cycles because create disruptive dislocations and arrive in huge waves


DR Sally CAIRD (Duram University) identifies 5 components of entrepreneurs :


  • need for achievement : wanting to be a winner
  • need for autonomy : wanting to answer to oneself, do things one's own way
  • creative tendancy : able to come up with novel solutions to problems, to see things in a new way
  • propensy to take a risks : calculating the chances then taking the gamble
  • an internal locus of control


ENTREPRENARIAL OPPORTUNITIES VS LEVEL OF RISKS :


  • Starting a business = high risk
  • buying a business = medium risk
  • opening a franchised business = medium risk


BUSINESS MODEL :


A good business model according to Peter DRUCKER :

  • who is the customer
  • what does the customer values
  • how do we make money in the business
  • what is the underlying economic logic that explains how we can deliver value to customers at an appropriate cost


BUSINESS PLAN :


  • is a written description of your business's future
  • what you plan to do and how you plan to do
  • used by convince a potential investors
  • used by firms to attract key employees, prospect for new business, deal with suppliers
  • can vary a lot
Post-Bac
2

INTRODUCTION

entrepreneurship

Définition

Crowdfunding VS business angel
Crowdfunding : is a way to raising money to finance projects and businesses. Collect small amounts of money from a large number of people via online platforms Business angel : people who invest their money in the initial phase of startups, in exchanges for a participation in capital. They are a role of mentor and offer their consent and their experience to entrepreneurs.
Venture capital VS growth equity
Venture capital : early stage operating companies with unproven business models, invest in a multiple early stage companies within an industry/sector and invest in companies with undefined future capital requirements Growth equity : invest in mature companies with proven business models, invest in the perceived market leader within the industry/sector and limited or no future capital requirements to achieve profitability potential
Startup VS Scaleup
Startup : "is a temporary organization designed to search for a repeatable and scalable business model". - Steve BLANK Startup = unvalidated business model and high growth ambition and very scalable business model Scaleup = market validated business model and high growth ambition and very scalable business model Small business = market validated business model and low growth ambition and/or non scalable business
Invention VS innovation VS creativity
Invention : the process of converting intellectual thoughts into a tangible new artefact (product or process) and ideas are not inventions. Innovation : renewed or altered; innovation = theorical conception + technical invention + commercial exploitation. An innovation can also a product like a service, important to change a lot of things. Creativity : is a process of developping novel and useful ideas. DIVERGENTS VS CONVERGENTS THINKINGS : * Divergent : generate options/ideas * convergent : select the quality of the options/ideas
Entrepreuneurship
"The pursuit of opportunity beyond the ressources you currently control" - Howard STEVENSON, director of the Arthur Rock Center at HARVARD BS

ENTREPRENEURS :


  • The concept of entrepreneur come from of the French word "entreprendre". "One who undertakes" -> is a "manager".
  • Th word "entreprendre" come from of " celui qui entreprends" qui se traduit par "the one who get things done".
  • The economist Lester THUROW writes "entrepreneur ... bring the new technologies and the new concepts into active commercial use". -> They are the change agents of capitalism.


SCHUMPETER'S VIEW OF ENTREPRENEURS :


  • innovation and creativeness distinguished entrepreneurs that other people
  • innovation and and entrepreneurship is interwoven
  • entrepreneur is in the very center of business
  • entrepreneurs create " a cluster of innovation" because create the causes of business cycles because create disruptive dislocations and arrive in huge waves


DR Sally CAIRD (Duram University) identifies 5 components of entrepreneurs :


  • need for achievement : wanting to be a winner
  • need for autonomy : wanting to answer to oneself, do things one's own way
  • creative tendancy : able to come up with novel solutions to problems, to see things in a new way
  • propensy to take a risks : calculating the chances then taking the gamble
  • an internal locus of control


ENTREPRENARIAL OPPORTUNITIES VS LEVEL OF RISKS :


  • Starting a business = high risk
  • buying a business = medium risk
  • opening a franchised business = medium risk


BUSINESS MODEL :


A good business model according to Peter DRUCKER :

  • who is the customer
  • what does the customer values
  • how do we make money in the business
  • what is the underlying economic logic that explains how we can deliver value to customers at an appropriate cost


BUSINESS PLAN :


  • is a written description of your business's future
  • what you plan to do and how you plan to do
  • used by convince a potential investors
  • used by firms to attract key employees, prospect for new business, deal with suppliers
  • can vary a lot
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