THE SCHOOLS OF ENTREPRENEURIAL THOUGHT-Veterinary. Extension

The school of Entrepreneurial Thoughts

1. Dr. B. K. Ashwa, Professor and Head
Dept. of Vety. & A. H. Extension Education
Vety. College, K.U., S.K.NAGAR
THE SCHOOLS OF ENTREPRENEURIAL
THOUGHT

2. •THESCHOOLSOFENTREPRENEURIAL THOUGHT
•Macroview
•Themacroviewofentrepreneurshippresentsabroad
arrayofexternalprocessesthatarebeyondthecontrolof
theindividualentrepreneur.
•Inmacroviewtherearethreeschoolsofentrepreneurial
thought
1.Theenvironmentalschoolofthought
2.Thefinancial/capitalschoolofthought,and
3.Thedisplacementschoolofthought.

3. •TheEnvironmentalSchoolofThought
•Thisschoolofthoughtdealswiththeexternalfactorsthat
affectapotentialentrepreneur’slifestyle.Thesecanbe
eitherpositiveornegativeforcesinthemoldingof
entrepreneurialdesires.
•Here,thefocusisoninstitutions,values,andcustoms
that,groupedtogether,formasociopolitical
environmentalframeworkthatstronglyinfluencesthe
developmentofentrepreneurs.
•Forexample,ifamiddlemanagerexperiencesthe
freedomandsupporttodevelopideas,initiatecontracts,
orcreateandinstitutenewmethods,thework
environmentwillservetopromotethatperson’sdesireto
pursueanentrepreneurialcareer.

4. •Anotherenvironmentalfactorthatoftenaffectsthe
potentialdevelopmentofentrepreneursistheirsocial
group.Theatmosphereoffriendsandrelativescan
influencethedesiretobecomeanentrepreneur.
•TheFinancial/CapitalSchoolofThought
•Thisschoolofthoughtisbasedonthecapitalseeking
process.Thesearchforcapitalgrowthistheentirefocus
oftheentrepreneur.
•Theventurecapitalprocessisvitaltoanentrepreneur’s
development.Thisschoolofthoughtviewstheentire
entrepreneurialventurefromafinancialmanagement
standpoint.

5. •TheDisplacementSchoolofThought
•Itfocusesonthenegativesideofgroupphenomenawheresomeone
feels“outofplace”orisliterally“displaced”fromthegroup.It
holdsthatthegrouphindersapersonfromadvancingoreliminates
certaincriticalfactorsneededforthatpersontoadvance.
•Duetosuchactionsthefrustratedindividualwillbeforcedintoan
entrepreneurialpursuitoutofhisorherownmotivationtosucceed.
Theindividualswillnotpursueaventureunlesstheyareprevented
ordisplacedfromdoingotheractivities.
•Culturalawareness,knowledgeofpoliticalandpublicpolicy,and
economicindoctrinationwillaidandimproveentrepreneurial
understandingunderthedisplacementschoolofthought.The
broadertheeducationalbaseineconomicsandpoliticalscience,the
strongertheentrepreneurialunderstanding.
•Threemajortypesofdisplacement,i.e.political,culturaland
economic,illustratethisschoolofthought.

6. •MICROVIEW
•Themicroviewofentrepreneurshipexaminesthe
factorsthatarespecifictoentrepreneurshipand
arepartoftheinternallocusofcontrol.The
potentialentrepreneurhastheability,orcontrol,
todirectoradjusttheoutcomeofeachmajor
influenceinthisview.
•Unlikethemacroapproach,whichfocuseson
eventsfromtheoutsidelookingin,themicro
approachconcentratesonspecificsfromtheinside
lookingout.

7. •Manyresearchersandwritershavebeeninterestedin
identifyingtraitscommontosuccessfulentrepreneurs.
•Thisapproachisbasedonthestudyofsuccessfulpeople
whotendtoexhibitsimilarcharacteristicsthat,ifcopied,
wouldincreasesuccessopportunitiesforthefollowers.
•Forexample,achievement,creativity,determination,and
technicalknowledgearefourfactorsthatusuallyare
exhibitedbysuccessfulentrepreneurs.
•Thefamilydevelopmentideafocusesonthenurturing
andsupportthatexistwithinthehomeatmosphereofan
entrepreneurialfamily.Thisreasoningpromotesthe
beliefthatcertaintraitsestablishedandsupportedearlyin
lifewillleadeventuallytoentrepreneurialsuccess.

8. •TheVentureOpportunitySchoolsofThought
•Thisschoolofthoughtfocusesontheopportunityaspects
ofventuredevelopment.
•Thesearchforideasources,thedevelopmentofconcepts,
andtheimplementationofventureopportunitiesarethe
importantinterestareasforthisschool.
•Creativityandmarketawarenessareviewedasessential.
•Additionally,accordingtothisschoolofthought,
developingtherightideaattherighttimefortheright
marketnicheistheessentialcriteriontoentrepreneurial
success.
•Theabilitytorecognizetheopportunitieswhentheyarise
andtoimplementthenecessarystepsforactionarekey
factors.

9. •TheStrategicFormulationSchoolofThought
•Thestrategicformulationapproachtoentrepreneurial
theoryemphasizestheplanningprocessinsuccessful
venturedevelopment.
•Ronstadtviewsstrategicformulationasaleveragingof
uniqueelements.
•Uniquemarkets,uniquepeople,uniqueproducts,or
uniqueresourcesareidentified,used,orconstructedinto
effectiveventureformations.

10. CRITERIA FOR DEVELOPMENT
ENTREPRENEURSHIP IN LIVESTOCK SECTOR
1.Startinganewlivestockbusiness
Theentrepreneurcanbeginfromscratchonallhisown
ideas,astherearenoexistingproblemsorconcernsfroma
previousowner.Hehasthefreedomtostartthebusinessin
hisownway.However,theriskishigherandhehasto
devotetime,effort,andmoney—especiallyforstart-up
expensessuchasequipment,building,etc.

11. Thank You…..