Class Notes (834,252)
Canada (508,439)
ENT 526 (84)
Sean Wise (51)
Lecture 2

ENT 526 Week 2

2 Pages
257 Views
Unlock Document

Department
Entrepreneurship and Strategy
Course
ENT 526
Professor
Sean Wise
Semester
Fall

Description
Week 2 - September, Tuesday 11, 2012 Review  Adversity quotient– Ability to get back up when knocked down. o Makes you strive harder  Life = Risk – Richard Branson  Risk reward ration = higher the risk the higher the reward o Riskier one has to pay more  Scalability – speed at which the business grows o Ability to increase profit exponentially while growing the business o Software is more scalable because the revenue grows but the expenses don’t track o Make more money but you don’t need to add more labour o Network affect – something gets more available when more people have it – Facebook, twitter, phone, tv  Locus of control – how you see the world  Internal locus of control is when you believe you control the world around you  External – the world controls you  Only costs about $50 000 to take a product to market in 2010 Lecture  Entrepreneurship is about the evolution of an opportunity o Is an ex post term – learning from the past  Not an entrepreneur if your trying but only are when you succeed o Someone who moves resources to make more use out of them o Unternechmer – an “agent of change” who exploits opportunity  Entrepreneur see an unmet need  “Creative destruction” – when the new replaces the old and completely changes the whole structure of the industry  Evolutionary economics talks about how creative destruction leads to a shift from the suboptimal to the optimal  Grameen Bank – every time something is suboptimal – there is an opportunity (loaned to the poor in India)  Low default rate because it was focused on community needs  10x shift –10 times – faster, larger, accessible, cheaper, better, secure Case Study – Bl
More Less

Related notes for ENT 526

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit