Entrepreneurship: An Exciting Research Domain R. Duane Ireland Mays Lunch & Learn November 1, 2016

Multiple Perspectives about Entrepreneurship Entrepreneurship tends to be thought of as a process Through which newness (in the form of products, processes, & markets) is created (Lumpkin & Dess, 1996) Through which wealth is created (Schumpeter, 1934) Through which new organizations are created (Dobrev & Barnett, 2005) Of organizational creation, renewal, and/or innovation within or outside an existing organization (Sharma & Chrisman, 1999) By which individuals pursue opportunities without regard to resources they currently control for the purpose of exploiting future goods & services (Stevenson & Jarillo, 1990)

Perspectives about Entrepreneurship – Continued As a process, entrepreneurship creates value at a minimum of two levels For firms, entrepreneurship yields Innovations in the form of products, processes, & administrative routines (Covin & Miles, 1999) Value for stakeholders, perhaps most visibly for customers & shareholders (Hitt, Ireland, Camp, & Sexton, 2001) For society, entrepreneurship Contributes to several outcomes including Job creation (Birley, 1986) Technological progress and the revitalization of economies (Zahra, 2005) The shaping of global cultures (Inglehart & Baker, 2000) An eclectic phenomenon, scholars from multiple disciplines examine the process of entrepreneurship Accounting, anthropology, economics, finance, management, marketing, operations management, political science, psychology, & sociology (Ireland & Webb, 2007)

Entrepreneurship & Entrepreneurs Entrepreneurs (in existing organizations & in start-ups) Engage in entrepreneurship In a sense, entrepreneurs seek to Learn how to adapt to environmental changes And exploit opportunities that uncertainties associated with environmental changes create (Venkataraman & Sarasvathy, 2001) In slightly different words entrepreneurs Assemble & integrate all resources required to Successfully exploit identified opportunities (Barringer & Ireland, 2016)

Entrepreneurship-Related Research Topics The number of entrepreneurship-related research questions is virtually endless Sample questions include What enables enduring entrepreneurship? Why are some but not all firms able to consistently renew through entrepreneurship? How do informal institutions influence entrepreneurship? What is the role of entrepreneurship in the informal economy? How can successful patterns of international entrepreneurship be encouraged? How can entrepreneurial firms successfully identify future market opportunities? (MKT) What internal processes best facilitate the transfer of entrepreneurial knowledge across organizational units? (SCM) What types of information & data are of the greatest value to potential investors? (FINC) What are “best practices” for entrepreneurial firms to use to manage their financial resources? (ACCT) What is the role of strategic entrepreneurship in conversations about entrepreneurship? How can we understand competitive dynamics using an entrepreneurship lens?

Putting entrepreneurship to work Est. 1999 Putting entrepreneurship to work

Graduate certificate- cross campus eligibility UG certificate @ Mays Lean startup class Graduate certificate- cross campus eligibility Foundations / technology commercialization / negotiations / creativity / leadership / entrepreneurial finance Cross campus Minor in process

Startup Living Learning Community (Hullaballoo Hall)

What is Blackstone Charitable Foundation? 20 Universities Texas (TAMU, UT and UT Dallas) January Grand Opening Purpose and Benefit to TAMU Stitching together entrepreneurial ecosystem Megaphone for programs, events & activities on campus Want to Get Involved? Need Mentors and Coaches!

Want to Get Involved? Want to help entrepreneurial Aggies? Judge a Competition Sponsor a Prize – Fund a Venture – Award a Scholarship Become a Mentor