1. MANAGERS LEADERS ENTREPRENEURS

2. MANAGERS ENTREPRENEURS LEADERS

3. MANAGER ENTREPRENEUR LEADER

4. SOME POSSIBLE QUESTIONS: IS AN ENTREPRENEUR ALWAYS AN ENTREPRENEUR AND IF NOT, CAN HE OR SHE BE A MANAGER AND/OR LEADER WHEN NOT? IS LEADERSHIP A QUALITY OF A GOOD MANAGER OR SOMETHING SEPARATE? IS AN ENTREPRENEUR ALWAYS A LEADER TO SOME EXTENT AND, IF SO, WHAT KIND OF LEADER?

5. FIRST SOME ”ACCEPTED FACTS”:

6. MANAGER -------------------------------- ENTREPRENEUR SIMILARITIES BOTH NEED TO PLAN, ORGANIZE AND CONTROL THEIR ACTIVITIES DIFFERENCES TENDS TO BE SHORT-TERM ORIENTED TOWARDS ACCOUNTING PERIODS LOW RISKTAKER, TRIES TO AVOID MAKING MISTAKES EXTERNAL STANDARDS, ORIENTED TOWARDS REWARDS AND PUNISHMENTS IN THE ORGANIZATION TENDS TO BE LONG-TERM PROBLEM ORIENTED HIGHER RISKTAKER, TRIES TO LEARN FROM MISTAKES MADE INTERNAL STANDARDS, REWARDS HIMSELF OR HERSELF

7. MANAGER --------------------------------- LEADER SIMILARITIES * MANAGERS (WHEN HAVING TO DO WITH PEOPLE) SHOULD HAVE LEADERSHIP QUALITIES DIFFERENCES DOES NOT HAVE TO INVOLVE OTHER PEOPLE (CAN HAVE A DEPARTMENT OR VENTURE BEING ALONE) SOURCE OF POWER: A POSITION DECIDES AND GIVES ORDERS MUST INVOLVE OTHER PEOPLE (HAVE FOLLOWERS) SOURCE OF POWER: PERSONAL QUALITIES IS A ROLE MODEL

8. ENTREPRENEUR ------------------------ LEADER SIMILARITIES * MOST SUCCESSFUL ENTREPRENEURS ARE LEADERS IN THEIR BUSINESS FIELD AND (IF THEY ARE NOT ALONE) OF THEIR EMPLOYEES DIFFERENCES IS INVOLVED IN NEW VENTURES MANY START AND RUN SMALL BUSINESS VENTURES WITHOUT HAVING ANY EMPLOYEES (SOLO VENTURERS) IS INVOLVED IN OTHER PEOPLE

9. SOME PROBLEMS WITH THIS KIND OF KNOWLEDGE: THERE IS NO ABSOLUTE AND DEFINITE SOCIAL KNOWLEDGE. ALL SUCH KNOWLEDGE IS CONTEXTUAL AND RELATED TO A PURPOSE (WHAT KNOWLEDGE IS FOR) MANAGERS, ENTREPRENEURS AND LEADERS ARE IMPLICITLY MADE INTO SOMETHING POSITIVE: * THERE ARE MANY NEGATIVE ASPECTS OF ALL THREE * IT LEADS TO MYTHS, ESPECIALLY OF WHAT IS LESS ”PRECISE”, I.E., LEADERS AND ENTREPRENEURS THE RESULTS ARE VALID ONLY IN THE WESTERN WORLD, IN PARTICULAR IN THE US

10. SOME MYTHS ASSOCIATED WITH LEADERS: LEADERSHIP IS A RARE QUALITY LEADERS ARE CHARISMATIC LEADERS EXIST ONLY AT THE TOP OF THE ORGANIZATION LEADERS ARE MAGICIANS AND MANIPULATORS LEADERSHIP (AS WELL AS ENTREPRENEURSHIP) IS SOMETHING WHICH IS BASED ON CERTAIN QALITIES THAT YOU ARE BORN WITH; IF YOU DO NOT HAVE THOSE QUALITIES, YOU CANNOT LEARN TO BE A LEADER (OR AN ENTREPRENEUR)

11. SOME MYTHS ASSOCIATED WITH ENTREPRENEURS: THERE ARE SO MANY WAYS TO BECOME AN ENTREPRENEUR; THE RECIPE FOR SUCCESS CAN THEREFORE NOT BE TAUGHT THE MOST IMPORTANT FACTOR FOR ENTREPRENEURIAL SUCCESS IS THE IDEA ON WHICH THE VENTURE IS BASED, THE ENTREPRENEUR COMES SECOND THE MORE MONEY YOU INVEST IN ENTREPRENEURSHIP, THE MORE YOU GET OUT OF IT

12. THE INHERITAGE FROM ECONOMICS: THE ENTREPRENEUR IS A: RISK TAKER (CANTILLON; BEGINNING OF EIGHTEENTH CENTURY) BUILDER OF A BUSINESS VENTURE; THE FOURTH PRODUCTION FACTOR (SAY; BEGINNING OF NINETEENTH CENTURY) INNOVATOR (SCHUMPETER; BEGINNING OF TWENTIETH CENTURY) OPPORTUNIST (KIRZNER; MID TWENTIETH CENTURY)

13. FOUR AREAS OF ENTREPRENEURSHIP RESEARCH TODAY: ENTREPRENEURIAL CONSEQUENCES? ENTREPRENEURIAL THINKING? ENTREPRENEURIAL ENVIRONMENTS? ENTREPRENEURIAL PROCESSES?

14. THE NEW ECONOMIC ERA: CHANGE GENUINE UNCERTAINTY CHANGE AGENTS NEW FORMS OF CAPITAL UNCLEAR INDUSTRY BORDERS INFORMATION SOCIETY; KNOWLEDGE SOCIETY; RISK SOCIETY; NETWORK SOCIETY; ECONOMY OF EXPERIENCES

15. A SIMPLE STAIRCASE OF DEVELOPMENT: CAPITAL TECHNOLOGY ENTREPRENEURSHIP INFRA- STRUCTURE

16. AN ALTERNATIVE ”SET OF FACTS”: KNOWLEDGE TO UNDERSTAND MANAGEMENT, ENTREPRENEURSHIP AND LEADERSHIP IN THE NEW ECONOMIC ERA

17. ENTREPRENEURS = CREATORS OF NEW USER VALUE INNOVATORS OPPORTUNISTS BUT NOT SO MUCH RISK TAKERS BUSINESS VENTURE BUILDERS

18. THREE ”POSITIONS” IN THE NEW ECONOMIC ERA: MANAGEMENT IS A PROFESSION. MANAGERS NEED ”TECHNICAL” SKILLS. THEY RELATE TO THEIR EMPLOYERS AND ARE JUDGED BY THEM. LEADERSHIP IS A ROLE. LEADERS NEED SOCIAL SKILLS. THEY RELATE TO THEIR FOLLOWERS AND ARE JUDGED BY THEM. ENTREPRENEURSHIP IS AN ATTITUDE IN APPLICATION (A LIFE FORM). ENTREPRENEURS NEED MENTAL SKILLS. THEY RELATE TO THE USERS OF THEIR INNOVATIONS AND ARE JUDGED BY THEM.

19. THREE PARTS OF THE ENTREPRENEURIAL ATTITUDE: THE WORLD IS NOT PERFECT! THERE ARE ALTERNATIVE SOLUTIONS TO THE WORLD’S PROBLEMS! I (!) WANT TO BE PART OF REALIZING THESE SOLUTIONS (OR AT LEAST THE GOOD ONES)!

20. 12 34 MODES OF GROWING: PRODUCT OLD NEW OLD NEW MARKET 1-3 = MANAGERIAL GROWTH 4 = ENTREPRENEURIAL GROWTH

21. THE TERMINOLOGY (AND WAY OF THINKING) IN TWO MODES OF GROWING (IN MATCHED PAIRS): MANAGERIAL GROWTH ENTREPRENEURIAL GROWTH PLANNING UNITY SYSTEMS STRUCTURES BUSINESS CONCEPTS WE ARE EFFICIENCY ECONOMIES OF BIG SCALE EDUCATION MANAGEMENT LEARNING VARIETY ACTORS PROCESSES VISIONS WE BECOME COMMITMENT ECONOMIES OF SMALL SCALE CULTURE LEADERSHIP

22. THERE ARE TWO KINDS OF MARKETING: 1. TRANSACTIONAL MARKETING MARKETING MEANS THE PROCESS WHEREBY THE CONCEPTUALIZATION OF IDEAS, GOODS AND SERVICES IS PLANNED AND IMPLEMENTED IN ORDER TO CREATE EXCHANGES ACCOMPLISHING INDIVIDUAL AND ORGANIZATIONAL GOALS. 2. RELATIONSHIP MARKETING MARKETING MEANS TO IDENTIFY AND ESTABLISH, MAINTAIN AND DEEPEN, AND IF NECESSARY END, RELATIONSHIPS WITH CUSTOMERS (AND OTHER PARTIES) IN ORDER TO ACCOMPLISH ECONOMIC AND OTHER GOALS FOR ALL PARTIES. THIS IS DONE THROUGH MUTUAL EXCHANGE AND THROUGH CARRYING OUT PROMISES MADE.

23. THERE ARE TWO KINDS OF ORGANIZATIONS: 1. FOCAL ORGANIZATIONS (OFTEN CALLED FORMAL ORGANIZATIONS) RELATIVELY CLEAR CONSTRUCTIONS WITH RELATIVELY FIRM POSITIONS AND RELATIONSHIPS, OFTEN IN HIERARCHIES, BETWEEN INDIVIDUALS AND DEPARTMENTS WITHIN SPECIFIC FIRMS AND/OR LEGAL UNITS. 2. IMAGINARY (OR VIRTUAL) ORGANIZATIONS (OFTEN CALLED NETWORKS) LOOSELY JOINED, AND CONSTANTLY FLOWING, RELATIONSHIPS BETWEEN INDIVIDUALS AND ORGANIZATIONS, RELATIONSHIPS, WHICH IN PRINCIPLE EXIST AS POSSIBLE TO REALIZE ONLY FOR THOSE WHO ARE PART OF THEM AND WHO ARE STRONG ENOUGH TO USE THEM.

24. THERE ARE TWO KINDS OF LEARNING: 1. EXPLOITATIVE LEARNING (TO CREATE RELIABILITY IN EXPERIENCE) REFINE, ROUTINIZE, RETRIEVE AND APPLY KNOWLEDGE (LEARN MORE OF AND BETTER WHAT YOU KNOW ALREADY). THIS USUALLY LEADS TO IMPROVEMENTS BUT IS OFTEN BLIND TO ESSENTIALLY NEW DIRECTIONS. 2. EXPLORATIVE LEARNING (TO CREATE VARIETY IN EXPERIENCE) RESEARCH, INVENT, VARY, INNOVATE (LEARN GENUINELY NEW THINGS). THIS OFTEN LEADS TO DISASTER BUT SOMETIMES TO IMPORTANT NEW DIRECTIONS AND DISCOVERIES.

25. THERE ARE TWO WAYS TO CREATE VALUE: 1. FOLLOWING EXISTING VALUE-ADDING FLOWS (SOMETIMES CALLED VALUE CHAINS) ADAPT TO EXISTING RELATIONSHIPS BETWEEN PRESENT AND COMING PARTICIPANTS ON THE MARKET ARENAS. 2. BUILDING NEW VALUE CONSTELLATIONS (SOMETIMES CALLED VALUE STARS) CONSTRUCT (ALTERNATIVELY FINDING ONLY), AT LEAST PARTLY NEW, RELATIONSHIPS BETWEEN PRESENT AND COMING PARTICIPANTS ON THE MARKET ARENAS.

26. ENTREPRENEURIAL GROWTH MANAGERIAL GROWTH LEADERSHIP MANAGEMENT RELATIONSHIP MARKETING TRANSACTIONAL MARKETING IMAGINARY ORGANIZATIONS FOCAL ORGANIZATIONS EXPLORATIVE LEARNING EXPLOITATIVE LEARNING VALUE STARSVALUE CHAINS 12

27. 1 2 1 2 NOTE: THERE ARE TWO KINDS OF LEADERS IN THIS CONTEXT: A.TAKE A LEADING ROLE IN CONSTRUCTING AND REALIZING NEW IMAGINARY ORGANIZATIONS AND NEW VALUE CONSTELLATIONS (ONLY IN ) B.LEAD THOSE WHO FOLLOW IN FOCAL ORGANIZATIONS (THE TRADITIONAL LEADERSHIP ROLE; MAINLY IN ) 1 2

28. ENTREPRENEURSHIP SMALL BUSINESS MANAGEMENT time size LEADERSHIPMANAGEMENT EXPLORATIVE LEARNING EXPLOITATIVE LEARNING RELATIONSHIP MARKETING TRANSACTIONAL MARKETING IMAGINARY ORGANIZATIONS FOCAL ORGANIZATIONS VALUE STARS VALUE CHAINS

29. GROWTH TIME ICAROS THE MINNOW THAT NEVER TOOK OFF SMALL – BUT HAPPY SUCCESSFUL GROWTH