Building an entrepreneurial business
It takes an entrepreneur to start a company, but what makes a company entrepreneurial?
It takes an entrepreneur to start a company, but what makes a company entrepreneurial? For "Entrepreneurial Orientation [EO]: Disposition and Behaviour," authors Brian Anderson of the University of Western Ontario and Jeffrey Covin of Indiana University studied scholarly literature relating to EO, which is "the decision-making practices, managerial philosophies and strategic behaviours that are entrepreneurial in nature." The authors suggest recent research into entrepreneurial companies has shifted the focus away from the disposition of the manager and onto the behaviours of the business-such as developing new products or entering new markets-as the defining feature. Anderson and Covin argue, however, that it is impossible to "meaningfully consider a fi rm entrepreneurial without explicitly accounting for the dispositions of senior managers that influence entrepreneurial decision-making." Thus, firms wanting to develop an entrepreneurial disposition should hire managers who've demonstrated a penchant for risk-taking over risk avoidance in prior business decisions.
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