The Entrepreneurial and

Intrapreneurial Mind
It is the process of starting a new venture which involves
more than just problem solving in a typical management
position . An entrepreneur must find, evaluate and develop
an opportunity by overcoming the forces that resists the
creation of something new.
The process has four distinct phases:
• Identification and evaluation of the opportunity.
•Development of business plan.
•Determination of required resources.
•Management of resulting enterprise.
Opportunity identification is a very difficult task. It is
not a sudden happening rather a result from
entrepreneur’s alertness to problems and possibilities.
• Opportunity assessment.
•Creation and length of opportunity.
•Real and perceived value of opportunity.
•Risks and returns of opportunity.
•Competitive environment.
A good business plan must be developed in order to exploit
the defined opportunity. A lot of time should be given on
this phase . A good business plan is essential for developing
the :
•Opportunity .
•Determining the resources required.
•Obtaining those resources.
•Successfully managing the resulting venture.
 •Description of the
business.
• Title Page. •Description of
•Table of contents. industry.
•Technology Plan.
•Executive summary. •Marketing Plan.
•Major section . •Financial plan.
•Appendixes. •Production Plan.
•Operational Plan.
•Summary
It is very important to determine the resources
required at the initial stage of doing a business . This
includes the entrepreneurial current resources . Plan
must also be made how to get the continuous resources
in order to have a smooth flow of entrepreneurial
process.
•Determine resources required.
•Determine existing resources.
•Identify available suppliers.
•Develop access to needed resources.
After the entrepreneur acquire the resources the next
step is to implement the business plan effectively. The
operational problems of the growing organization
must be examined. It is very important for the
entrepreneur to have a strong view of management
issues so that all the problems may be solved just in
time.
•Develop management style.
•Identify existing and potential problems.
•Implement control systems.
•Develop growth strategy.
•Organization operates on frontier s of technology.
•New ideas encouraged.
•Trial and error encouraged.
•Failures allowed.
•Resources available and accessible.
•Coordinated departments.
•Long time horizon.
•Support of top management.
•Appropriate reward system.
•Understand the environment.
•Vision and flexibility.
•Encourages team work.
•Encourages open discussion.
•Persistent.
The most important aspect in Entrepreneurship
process is the ability to move into entrepreneurial
thinking mindset from the previous secured
permanent managerial position held.