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Similar to the entrepreneurial mindset to be like.ppt
the entrepreneurial mindset to be like.ppt
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- 2. 2 Lecture Outline Whatis mindset? What is entrepreneurial mindset? Mindset and behavior The importance of entrepreneurial mindset Characteristics of having the right entrepreneurial mindset Building of an entrepreneurial society Effective/Ineffective entrepreneurial mindset 21-03-2015
- 3. What is mindset? Mind+ Set 21-03-2015 3
- 4. mind The ability tothink and imagine 21-03-2015 4
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- 6. 21-03-2015 6 What ismindset? Mindset – A mindset refers to a set of assumptions, methods or notations held by one or more people or groups of people which is so established that it creates a powerful incentive within these people or groups to continue to adopt or accept prior behaviors, choices, or tools. – This phenomenon of cognitive bias is also sometimes described as mental inertia, "groupthink", or a "paradigm", and it is often difficult to counteract its effects upon analysis and decision making processes.
- 7. 21-03-2015 7 What ismindset? According to Dr. Carol Dweck* from Stanford University, US, there are two sets of mindset: – A fixed mindset – A growth mindset *Source: Carol C. Dweck (2006), Mindset: The New Psychology of Success, Random House
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- 9. 21-03-2015 9 What ismindset? In a fixed mindset, people believe that their basic qualities, like their intelligence or talent, are simply fixed traits (rigid). They spend their time documenting their intelligence or talent instead of developing them. They also believe that talent alone creates success—without effort.
- 10. 21-03-2015 10 What ismindset? In a growth mindset, people believe that their most basic abilities can be developed through dedication and hard work—brains and talent are just the starting point. This view creates a love of learning and a resilience that is essential for great accomplishment. Virtually all great people (including entrepreneurs) have had these qualities.
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- 14. Successful entrepreneurs BillGates - Microsoft Richard Branson – Virgin Airline Anita Roddick – Body Shop Konosuke Matsushita - Panasonic Steve Job – Apple Soichiro honda - Honda Akio morita - Sony others?. 21-03-2015 14
- 15. Successful Entrepreneurs (Malaysia) SyedMokhtar Al-Bukhari - Tradewinds Lim Goh Tong – Genting Groups Tony Fernandez – Air Asia Ananda Krisnan – Maxis Others? 21-03-2015 15
- 16. Faces of successful entrepreneurs- local 21-03-2015 16
- 17. TONY FERNANDES –AIR ASIA ANDIANA NABILA 21-03-2015 17
- 18. Social Entrepreneurs Professor MuhammadYunus Founder of Grameen Bank, Bangladesh 21-03-2015 18
- 19. 21-03-2015 19 Test YourMindset You are given a set of twenty statements. Please respond freely to those statements. There is no right or wrong answer.
- 20. 21-03-2015 20 Test Implications 010 20 Growth Mindset Fixed Mindset
- 21. 21-03-2015 21 Can mindsetbe changed? Although people may differ in every which way—in their initial talents and aptitudes, interests, or temperaments BUT everyone can change and grow through application and experience. The passion for stretching yourself and sticking to it, even (or especially) when it’s not going well, is the HALLMARK of the growth mindset. This is the mindset that allows people to thrive during some of the most challenging times in their lives.
- 22. 21-03-2015 22 What isEntrepreneurial Mindset? Is a set of cognitive (thinking) processes that triggers the individuals to act or to behave entrepreneurially. – Sometimes it is called entrepreneurial talent or mentality – This mindset, talent or mentality can be changed and modified over time – The basis for the individual behavior
- 23. 21-03-2015 23 Entrepreneurial Mindset Having the right attitude: – Able to work without supervision – Able to self-motivate – Able to make quick decisions – Able to handle stress – Open-minded and flexible – Focused – Persistent – Patient, etc.
- 24. 21-03-2015 24 Motivation Knowledge & Skills Attitude •Intrinsic •Intention •Spirit •Responsibility •Extrinsic: •Role Model •Rewards •Pro-active •Positivevalues •Propensity to take risk •Creative and innovative •Inquisitive mind •Pursuing excellence •Functional knowledge •Entrepreneurial skills •Managerial skills •Technical skills •Communication skills •IT skills Mindset and Behavior Mindset affects the individual behavior at all levels
- 25. 21-03-2015 25 Mindset andBehavior MINDSET (Tacit) APTITUDE (Implicit) BEHAVIOR (Explicit)
- 26. 21-03-2015 26 The Importanceof Entrepreneurial Mindset To cope with the rapidly changing economy. – Business/economic environment today has become fuzzy, chaotic/messy, complex, uncertain and change very rapidly. – To succeed in the mindst of this chaos and uncertainty we require the agility, creativity, flexibility, innovation, interdependence and vision of entrepreneurs and their enterprising units.
- 27. 21-03-2015 27 The Importanceof Entrepreneurial Mindset To build an entrepreneurial society – Developing the right mindset at a very early age – Inculcation and acculturization process need to implemented through various programs and activities – Entrepreneurs as agents of change at every level of the society – Important contribution to entrepreneurial capital – Entrepreneurship as a way of life
- 28. 21-03-2015 28 ACCULTURIZATION PROCESS ENTREPRENEURIAL SOCIETY ENTREPRENEURIAL CAPITAL ENTREPRENEURIAL ECONOMY ECONOMIC GROWTH Building an EntrepreneurialSociety -Changing the mindset -Building the culture -Risk-taker -Innovative -Creative -Supportive -Human -Knowledge -Intellectual -Physical -Financial -Social -Vibrant -Sustainable -Added value -Job creation -Higher productivity -Higher output -Higher income per capita -Higher standard of living -Full employment
- 29. 21-03-2015 29 The Importanceof Entrepreneurial Mindset To spur/encourage innovation and growth – From creative people, comes creative products – Innovation creates and adds value – Finding new source of economic growth – Change as process, not destiny – Thinking “out of the box” becomes norms of the society – Innovation in every part of the value chain
- 30. 21-03-2015 30 Ineffective Entrepreneurial Mindset Don’t care attitude Not being meticulous/ takes thing for granted) Passing the buck Why should I care?/ Careless attitude
- 31. 21-03-2015 31 Ineffective Entrepreneurial Mindset Wait and see Non-punctuality Subsidy mentality Ask more, give less
- 32. 21-03-2015 32 Developing anEffective Entrepreneurial Mindset Understand what motivates you Know what you love Challenge yourself Reversal thinking Change your habit (once in a while) Always believe that you can Break away from norms
- 33. 21-03-2015 33 Summary We(entrepreneurs) must see things from different perspectives, willing to try new ways of doing things, willing to tolerate a higher level ambiguity, do not fear failure, seek and embrace new norms, and most importantly to realign our mental attitude – the mindset
- 34. 21-03-2015 34 Conclusion Four(4) categories of people: – Makes things happen – See things happen – Wonder what happen – Do not know what happen Which category would you like to be in?