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ENT 526 (84)
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Ryerson University
Entrepreneurship and Strategy
ENT 526
Sean Wise

ENT 526-PRE MIDTERM CLASS-FEBRUARY 15 , 2013 th Midterm: Two main sections 1) Mix and match 2) Fill in the banks Elevator Pitch: Are you tired of......  Carly Fiorina first female CEO`s to lead a fortune 500 company  Complete mess of the company when she comes on board  What it takes to make changes  Four key things to implement change  Must have courage: to move from one thing to another  Vision: Must have a vision to see where you are going  Will: Must have will power and  Perseverance: Must persevere st  3 C`s of 21 century leadership o Capability: Having the skills allowing you to lead o Collaboration: Must work well with team members to grow o Character: Ethics, perspective and value  Makaveli was a renaissance leader o Wrote a book called The Prince o Talks about the accumulation of power and leadership o Makavelian speaks about stepping on other people to get what you want o Greed is good o Limitations are just opportunities in disguise  Itunes is a good example  Only so many records a record store can hold  Itunes use it to their advantage making unlimited music storage  Hewlet Packard used this makavelian idea that limitations were just opportunities in disguise  IBM and Dell stopped innovating so HP took advantage in the R&D sector  People resist change because of fear and momentum  Fear: Scared of the unknown  Momentum: The powerful want to keep the momentum going and not change the status quo  Ben & Jerry`s o Guerilla Marketing: Giving free ice cream, magicians and carnivals organized o Value Based Leadership: Working with the homeless, charitable organizations o Limitation to Opportunity: Used local products, added extra flavours o Difference between leadership and management  Leadership tries to change  Management maintains o Leadership: Leader leads change o Management: Reacts to change o Manager has positional power o Leader has personal power  Positional power: Power given by the company to oversee other people (Dwight from the Office)  Personal Power: Gain the respect of people (Nelson Mandela) o Traits these entrepreneurs showed: Resourcefulness, Risk Takers, Resilient, Satisfied an unmet need, High Adversity Quotient, o Social entrepreneurship is entrepreneurship that has a secondary benefit  The Grameen Bank  Jack Welch- CEO of General Electric o Nickname Newtron Jack  Organized the 6 or 9 theory  Took the salaries from the 6`s and pushed it to the 9`s  6 or 9 Theory states that you have to pull out the weeds to let the flowers grow  Within 10 years, GE was the most profitable company in the world  Talent is important o Human capital is key for innovation o 7P`s, people is number 1 o We are in a knowledge based economy o Our best assets walk out of the door everyday  Bottom Up Hiring (Advantages) o Knowledge based worker build their careers around the company so they become more knowledgeable than those who come in randomly o They possess more
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