Introduction to the entrepreneurial process

Question 1

What is entrepreneurship?

Answer 1

It means taking action firstly as an individual. Components as the institution and the environment are also relevant but we are reffering to an individual who has AGENCY and who leverages opportunities. It means moving from scratch to a TRANSFORMATION.

Question 2

How many phases is the entrepreneurial process composed of?

Answer 2

1) Pre-Launch (opportunities identification)
2) Launch Phase
3) Post Launch Phase (management)

Question 3

What are sources of business opportunities? When can we find business opportunities?

Answer 3

Business opportunities are born from the JUXATPOSITION of factors such as demographic changes, law, new technologies. It is also defined as CONFLUENCE OF CONDITIONS due to COMPLEX PATTERNS (Baron 2006).

Question 4

According to Davidsson 2020, how do we categorize busines opportunities? What elements differentiate them?

Answer 4

Business opportunities can be categorized according to different parameters, such divided in Scope and On-Set. The Scope is composed of spatial elements, temporal elements (long lasting? ) and sectoral (only applicable to medicine?). On-Set indicates if these opportunities are predictable and how discruptive the are (sudden or gradual?)

Question 5

What are examples of Mechanisms that can indicate how individuals make use of the opportunities?

Answer 5

Opportunities can surge by substitution of existing processes, compression of time etc.