Entrepreneurship. Entrepreneurship is the process of starting a business or other organization. The entrepreneur develops a business model, acquires the human and other required resources, and is fully responsible for its success or failure. Entrepreneurship operates within an entrepreneurship ecosystem. Background[edit] In 2012, Ambassador-at-Large for Global Women's Issues Melanne Verveer greeted participants in an African Women's Entrepreneurship Program at the State Department in Washington, D.C. In recent years, "entrepreneurship" has been extended from its origins in business to include social and political activity. According to Paul Reynolds, founder of the Global Entrepreneurship Monitor, "by the time they reach their retirement years, half of all working men in the United States probably have a period of self-employment of one or more years; one in four may have engaged in self-employment for six or more years.
History[edit] Etymology and historical usage[edit] What is an entrepreneur[edit] Entrepreneur. Creation or extraction of economic value Entrepreneurship is the creation or extraction of economic value.[1][2][3] With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values than simply economic ones. An entrepreneur is an individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards.[4] The process of setting up a business is known as "entrepreneurship".
The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. In the field of economics, the term entrepreneur is used for an entity which has the ability to translate inventions or technologies into products and services.[9] In this sense, entrepreneurship describes activities on the part of both established firms and new businesses. Perspectives on entrepreneurship[edit] Elements[edit] History[edit] Methods. Entrepreneur first programme. Dr Shailendra Vyakarnam. University Commercialisation. University Commercialisation Offices of New Zealand (UCONZ) - was formed in 2005 to bring together the commercialisation offices of the country's universities and to establish closer links with commercial research partners. 2008 marked the 20th anniversary of the establishment of a university commercialisation company - the University of Auckland's UniServices. The event was marked by the release of the booklet "University research commercialisation: paying dividends for New Zealand".
New Zealand universities programme to build closer ties with businesses In 2010 the eight universities commenced a programme to further enhance their working relationships with the business sector by running a project dedicated to creating stronger university-business partnerships. A total of fourteen events were held. Due to the success of the programme, in late 2011 the universities agreed to continue the programme, in a reduced format, with eight events scheduled over a two year period. Independent Commercialisation. When electrical engineers at The University of Auckland made electricity jump over a gap by intersecting two magnetic fields they achieved what had eluded others for centuries and made it a commercially viable process. With a lot of creativity and innovation and the backing of the University’s commercialisation company, Auckland UniServices Limited, their inventions for Induction Power Transfer (IPT) were protected in over 30 different patent families, and then for more than a decade have been progressively applied to an ever-increasing range of industrial and consumer products.
This reflects the strong focus the University and UniServices have on commercialising research results. In a recent US survey the University ranked second only to the Colorado School of Mines for the percentage of its research which is sourced commercially. The survey by the North American Association of University of Technology Managers measured how much commercial work was being carried out at universities. Commercialization. Commercialization is often confused with sales, marketing or business development. The commercialization process has three key aspects: Proposed commercialization of a product can raise the following questions: When to launch. Factors such as potential cannibalization of the sales of a vendor's other products, any requirement for further improvement of the proposed new product, or unfavorable market conditions may operate to delay a product launch.Where to launch. A potential vendor can start marketing in a single location, in one or several regions, or in a national or international market.
References[edit] Jolly, Vijay K.(1997) :Commercializing New Technologies: Getting from Mind to Market;Harvard Business School Press. Further reading[edit] See also[edit] Consultant. A consultant (from Latin: consultare "to discuss") is a professional who provides professional or expert advice[1] in a particular area such as security (electronic or physical), management, accountancy, law, human resources, marketing (and public relations), finance, engineering, or any of many other specialized fields. A consultant is usually an expert or a professional in a specific field and has a wide knowledge of the subject matter.[2] The role of consultant outside the medical sphere (where the term is used specifically for a grade of doctor) can fall under one of two general categories: Internal consultant - someone who operates within an organization but is available to be consulted on areas of specialism by other departments or individuals (acting as clients); orExternal consultant - someone who is employed externally (either by a firm or some other agency) whose expertise is provided on a temporary basis, usually for a fee.
Ways of work[edit] Common types[edit] See also[edit] Partnership. A partnership is an arrangement in which parties agree to cooperate to advance their mutual interests.[1] Since humans are social beings, partnerships between individuals, businesses, interest-based organizations, schools, governments, and varied combinations thereof, have always been and remain commonplace. In the most frequently associated instance of the term, a partnership is formed between one or more businesses in which partners (owners) co-labor to achieve and share profits and losses (see business partners). Partnerships exist within, and across, sectors. Non-profit, religious, and political organizations may partner together to increase the likelihood of each achieving their mission and to amplify their reach. In what is usually called an alliance, governments may partner to achieve their national interests, sometimes against allied governments holding contrary interests, as occurred during World War II and the Cold War.
Common law[edit] There are two types of partners. Corporate spin-off. A corporate spin-off, also known as a spin-out or a starburst, refers to a type of corporate action where a company "splits off" sections of itself as separate businesses.[1] The common definition of a spin-off is when a division of a company or organization becomes an independent business.
The "spun off" company takes assets, employees, intellectual property, technology, or existing products from the parent organization. Shareholders of the parent company receive equivalent shares in the new company in order to compensate for the loss of equity in the original stocks; thus, at the moment of spinning off, the ownership of the original and spun off companies are identical. However, shareholders may then buy and sell stocks from either company independently; this potentially makes investment in the companies more attractive, as potential share purchasers can invest in only the portion of the business they think will have the most growth. U.S. SEC definition [edit] Other definitions[edit] License. The verb license or grant license means to give permission. The noun license (American English) or licence (British English,[1] Indian English,[2] Canadian English,[3] Australian English,[4] New Zealand English,[5] South African English[6]) refers to that permission as well as to the document recording that permission.
A license may be granted by a party ("licensor") to another party ("licensee") as an element of an agreement between those parties. A shorthand definition of a license is "an authorization (by the licensor) to use the licensed material (by the licensee). " In particular, a license may be issued by authorities, to allow an activity that would otherwise be forbidden. It may require paying a fee and/or proving a capability. The requirement may also serve to keep the authorities informed on a type of activity, and to give them the opportunity to set conditions and limitations.
Term: many licenses are valid for a particular length of time. Mass licensing of software[edit]