Entrepreneurship: A style of management

• Entrepreneurship is, fundamentally, a style of management.  Entrepreneurs are characterised by the way in which they do things, not what they do or who they are.

• Three characteristics distinguish entrepreneurial management from ‘ordinary’ management:

–        Focus on change

–        A focus on opportunity

–        Organisation-wide management 

• Entrepreneurship is, fundamentally, a style of management.  Entrepreneurs are characterised by the way in which they do things, not what they do or who they are.
• Three characteristics distinguish entrepreneurial management from ‘ordinary’ management:

–        Focus on change – entrepreneurs make a significant difference; conventional mangers are more likely to be interested in incremental change.

–        A focus on opportunity – entrepreneurs are interested in pursuing and exploiting significant opportunities.  They will expose (investor’s) resources to risk in order to do this.  Conventional managers are more likely to be interested in conserving resources and limiting the risk they are exposed to.

–        Organisation-wide management – entrepreneurs are concerned with managing their venture as an integrated whole.  Though they have an interest in functional areas of management, they may not explicitly distinguish different functional areas.  Conventional managers (up to the level of the CEO anyway) will have an interest in a particular functional area.