Entrepreneurship: Exploiting Market Discontinuities

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Entrepreneurship Exploiting Market
Discontinuities
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Entrepreneurship

• The process of uncovering and developing an
  opportunity to create value through innovation
  and seizing that opportunity without regard to
  either resources (human and capital) or the
  location of the entrepreneurin a new or existing
  company (Churchill, 1992 586).

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Schumpeter (1934)

• Status Quo
• Creative Destruction (Innovation)
• Entrepreneur as a bullet
• Create new wheel

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Critical Questions that need to be asked to
create wealth generating activities.

• Where and in what ways is change creating the
  potential for new rules and new space?
• What is the potential for revolution inherent in
  the things that are changing right now, or have
  already changed?
• What are the discontinuities we could exploit?
• What aspect of whats changing can we come to
  understand better than anyone else in our
  industry?
• Whats the deep dynamic that will make our new
  business concept oh-so-relevant right now?
  (Hamel, 2000)

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Recommended Reading

• Antoncic, B. Hisrich, R.D. 2003. Clarifying the
  intrapreneurship concept. Journal of Small
  Business Enterprise Development, 10 (1) 7-24.
• Churchill, N.C. 1992. Research issues in
  entrepreneurship. In Sexton, D.L. and Kasarda,
  J.D. (Eds.), The State of the Art of
  Entrepreneurship, PWS-KENT, Boston, MA 570-06.
• Hamel, Gary. 2000. Leading the Revolution.
  Harvard Business School Press, Boston.
• Schumpeter, Joseph A. 1934. The Theory of
  Economic Development. Cambridge Harvard
  University Press. (New York Oxford University
  Press, 1961.) First published in German, 1912.