1. Principled Entrepreneurship Pathway
Dr. Russell S. Sobel, Ph.D.
Professor of Economics & Entrepreneurship

2. About Me
I’m a Charleston Native and my father was the voice of The Citadel Bulldogs
Ph.D. from Florida State University

3. About Me
Created and ran an Entrepreneurship Center at previous university
Business Incubator
Student Business Plan Competition

4. About Me Joined faculty at The Citadel in Fall 2012
Main Research Area is in Entrepreneurship
I write books/articles about how government policies impact entrepreneurship

5. About Me
Founder and Coordinator of the ‘Principled Entrepreneurship Pathway’
Helped start the ‘Bulldog Business Bowl’ business plan competition

6. What is Entrepreneurship?
The pathway in entrepreneurship isn’t just for those wanting to start their own business!
Entrepreneurship also happens within existing businesses & organizations (“Intrapreneurship”)
Entrepreneurship is about innovation
About recognizing opportunities and acting on them - Entrepreneurs are agents of change

7. Examples: Academic Entrepreneurship
Academic Entrepreneurship (people who create new programs or centers within existing colleges/universities)

8. Examples: Academic Entrepreneurship

9. Examples: Military Entrepreneurship
Military Entrepreneurship (people who innovate on the battlefield in both strategy and technology)

10. Examples: Military Entrepreneurship
To This:
From This:

11. Examples: Social Entrepreneurship
Social Entrepreneurship (people who innovate in the nonprofit sector)

12. Examples: Social Entrepreneurship
Shanon Marcus McAlister

13. Examples: Political / Legal Entrepreneurship
Political / Legal Entrepreneurship (people who discover new ways of undertaking politics or court legal proceedings)

14. Examples: Political Entrepreneurship
Gerrymandering – Gov. Elbridge Gerry (1812)
Illinois NC

15. Examples: Market Entrepreneurship
Market Intrapreneurship & Entrepreneurship (people who innovate within an existing for-profit company or business or who create a new business)

16. Examples: Market Intraprepreneurship
Post-It Notes:
Chemists at 3M trying to invent a “super-strong” adhesive accidently invent a “low-tack”, reusable, pressure sensitive adhesive
The yellow color was chosen by accident; a lab next-door to the Post-it team had scrap yellow paper, which the team initially used

17. Examples: Market Entrepreneurship
Chad Walldorf

18. Examples: Market Entrepreneurship
John LaVerne (Citadel Class of 1991)
Bulldog Tours (opened 2001) is now the largest tour company in Charleston and has won “best tour company” three years in a row (offers discounts to cadets in uniform)

19. Examples: Market Entrepreneurship
Percent of homes with Air Conditioning:
1956 = 6%
2016 = 91%

20. Examples: Market Entrepreneurship
The Jacuzzi

21. Our Phones

22. Our Entertainment

23. Our Science

24. Our Computers MacBook Air Least expensive-11-inch, 64GB, $999.00
Most expensive- 13-inch, 256GB, $1,599.00

25. Our Video Games

26. From Pong to Rock Band

27. The “Rock Pedal”
Jordan Ellington

28. Our Medicine
U.S. Life Expectancy has risen from 48 in 1900 to 76 today

29. Our Music

30. Fred Smith’s (FedEx) Yale University Senior Project Grade Remark:
Entrepreneurship is about believing in yourself and your idea even if nobody else does!
Fred Smith’s (FedEx) Yale University Senior Project Grade Remark:
"The concept is interesting and well-formed, but in order to earn better than a 'C,' the idea must be feasible."

31. Would you have invested?
Microsoft Corporation 1978

32. Experimentation & Creative Destruction

33. Thank You / Q&A
Dr. Russell S. Sobel, Ph.D.