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

ENT 526 Week 2

2 Pages
Unlock Document

Entrepreneurship and Strategy
ENT 526
Sean Wise

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


Join OneClass

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

Sign up

Join to view


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.