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By- Sudhansu Sethi Saurabh jain Yogesh pareek Rahul kumarCentral university of rajasthan Mba-2 nd semi
Entrepreneurship The idea of entrepreneurship as the ‘identification, evaluation and exploitation of an opportunity’.
Types of Entrepreneurs Type 1 refers to as the “one-shot entrepreneur,” who successfully builds a big enough business and becomes a CEO of his own company. Type 2 is the “drop-out entrepreneur” those who build successful businesses before either selling or forced to move out of the businesses they created. Type 3 refers to as “business generators” and are more generally known in literature as habitual entrepreneurs.
New Classification Individuals considering establishing a business are called nascent entrepreneurs. Novice entrepreneurs are first time entrepreneurs hence, have no prior business experience. Habitual entrepreneurs engage in repeated entrepreneurial behaviour and are therefore experienced entrepreneurs.
The habitual entrepreneur The term habitual entrepreneur was originally coined by “Jennifer Starr.” These entrepreneurs enjoy the excitement and challenge of start ups so much so that once successful, they become bored. Although they continue to own the business, they prefer to employ professional management and then turn and start other ventures.
Types of Habitual Entrepreneur The serial entrepreneur, those who own one business after another but only one business at a time. The portfolio entrepreneur those who own more than one business at a time.
Portfolio Entrepreneurs “individuals who currently have minority or majority ownership stakes in two or more independent businesses that are either new, purchased and/or inherited.”
What is portfolioentrepreneurship? A portfolio entrepreneur owns multiple businesses at the same time. Key success factors here are partners and delegation. Ideally this should be something all entrepreneurs do.
Related literature to portfolio entrepreneurship Family business In the context of family businesses, habitual entrepreneurs add new businesses and thereby form business groups based on different motives. This entrepreneurial activity may be planned or serendipitous in nature and that family businesses do not remain the same through the generations.
Families as actors for portfolioentrepreneurship
The corridor principle ‘The mere act of starting a venture enables entrepreneurs to see other venture opportunities they could neither see nor take advantage of until they had started their initial venture.’ Study strongly found that those who start a second venture quickly after the initial venture had longer entrepreneurial careers than those who did not.
+ Aspects It is reasonable that portfolio entrepreneurs use a variety of heuristics in deciding to pursue and exploit identified opportunities. Portfolio entrepreneurs would most likely have good networks/contacts around them. Successful portfolio entrepreneurs are unarguably experienced business founders.