CAIYI Entrepreneurs

Learning Objectives ◦ Identify the role of an entrepreneur in developing a new venture ◦ Understand the key characteristics of an entrepreneur

What is an Entrepreneur? ◦ An entrepreneur is a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk ◦ Rather than working as an employee, an entrepreneur runs a small business and assumes all the risk and reward of a given business venture, idea, or goods or service offered for sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes

Discussion Question ◦ What is the difference between an employee, owner manager and entrepreneur?

Entrepreneurial Competencies 1.Initiative 2.Sees and acts on opportunities 3.Persistence 4.Information seeking 5.Concern for high quality of work 6.Commitment to work contract 7.Efficiency orientation 8.Systematic planning 9.Problem solving 10.Self-confidence 11.Assertiveness 12.Persuasion 13.Use of influence strategies McBer & Co. (1993)

Discussion Questions ◦ Do you think entrepreneurs can be categorized in this way? ◦ Might this type of categorization cause any problems or difficulties?

Case study: Caiyi ◦ Caiyi identify themselves as the booster of brilliant campus talents ◦ For students they provide advertisements and promotional activities for high-quality internships on their platform ◦ For companies they provide high-quality connections with campus students who have special talents in STEM fields

Video Activity ◦ Whilst watching the video identify which of the competencies discussed the entrepreneur exhibits

Video ◦ Embed/show video

Entrepreneur Types & Situational Qualities Personal achiever ●Hardworking ●Sets own goals and means ●Risk of burn-out ●Counselling is effective help ●Needs Real Manager as company grows Expert idea generator ●Product developer ●May loose interest if product changes ●Should stay in visionary role, not sales role ●Should be exposed to expert knowledge ●Needs other competencies at growth Real manager ●Not entrepreneur ●Complements Personal Achiever ●May take over a growing business ●Should be vigilant of changes ●Needs experience from larger organisations Empathic super salesperson ●Empathetic to needs of clients ●If not selling, talent is wasted ●Needs help with finances and operations ●Should develop a learning strategy Creativity/Innovation Management Skills/Business Know How LOWHIGH Miner (1996)

Discussion Questions ◦ Do you think the Miner (1996) model is a better model for classifying entrepreneurs? ◦ Categorize where entrepreneurs in the following different sectors might fit in Miner’s (1996) model ◦ High tech industry ◦ Knowledge based industry e.g. consultant ◦ A restaurant entrepreneur

References ◦ Miner, J.B. (1996). The Four Routes to Entrepreneurial Success. San Francisco, CA: Berrett-Koehler Publishing. ◦ Spencer, L. M., & Spencer, S. M. (1993). Competence at Work. New York: Wiley.