1.

Identify the critical

thinking skills of
entrepreneur
2. Learn and evaluate
the entrepreneurial
problems and
Objectives
opportunities
Entrepreneurial Mindset
3. How to implement
entrepreneurial ideas and Thinking Skills
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Implementing
Entrepreneurial
Ideas
Joshua C. Ababon, Jr., MBA
Intentionality is a state of
mind directing a person’s
attention (and therefore
experience and action)
toward a specific object
(goal) or a path in order to
achieve something (means).

Entrepreneurial intentions Nature of

are aimed at either creating
a new venture or creating Entrepreneurial
new values in existing
ventures. Intentions
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 DIMENSIONS

1. Rationality
Entrepreneurial Intention
2. Intuition
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A person’s rational, analytic,
and cause and effect
oriented processes
structure intention and
action. These psychological
processes underlie the
following:

• formal business plans RATIONALITY

• opportunity analysis
• resource acquisition
• goal setting, and Entrepreneurial Intention
• most observable goal-
directed behaviour. 5
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 BUSINESS PLAN
A business plan is a formal written
document containing business goals, the
methods on how these goals can be
attained, and the time frame within which
these goals need to be achieved. It also
describes the nature of the business,
background information on the
organization, the organization's financial
projections, and the strategies it intends
to implement to achieve the stated
targets. In its entirety, this document
serves as a road map that provides
direction to the business.

Written business plans are often required to obtain a bank loan

or other kind of financing.

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 OPPORTUNITY
ANALYSIS
The process of identifying and exploring
revenue enhancement or expense
reduction situations to better position
the organization to realize increased
profitability, efficiencies, market potential
or other desirable objectives.

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 RESOURCE ACQUISITION

Once you get the basics in line, you need

PROJECT MANAGEMENT PLAN – Execution & Control to start defining the project and estimate the
resources necessary to move the project
PROJECT TIMELINE -- Timeframe
forward. This is where things can get tricky.
In each of these phases, there are some basic
milestones you should capture: Not only do you need to define “when”
Initiate
the project needs to be completed, but you
have to find the resources and get them
Define
allocated to meet your needs. In order to
Design manage the effort involved in obtaining your
Build and Test resources, you’ll need to arm yourself with a
Close number of things.
A couple of factors that can come into play while This process is Resource Acquisition.
you’re having these conversations: These tools will help you during this process
•Expected completion date from client (if known) and should be kept at hand throughout the
•Known risks and/or watch points for the project project timeline to ensure the right roles are
effort filled with the right people.

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 GANTT CHART

PROJECT EVALUATION REVIEW TECHNIQUE – CRITICAL PATH METHOD

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GOAL SETTING
Involves the
development of an
action plan designed
to motivate and guide
a person or group GOAL DIRECTED
toward a goal. Goal BEHAVIOR
setting can be guided Behavior oriented
by goal-setting criteria toward attaining a
(or rules) such as particular goal.
SMART criteria. Identified by observing
that the person ceases
search behaviour and
engages in detour
behaviour when it
encounters obstacles to
the goal.

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INAPPROPRIATE BEHAVIOR PATTERNS

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Intuitive, holistic and
contextual thinking frames
and structures an
entrepreneur’s intention
and action. Inspired by
vision, hunch, an expanded INTUITION
view of untapped resources,
and a feeling of the
potential of the enterprise,
Entrepreneurial Intention
the entrepreneur
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Entrepreneurial intentions
have a significant impact on
all organizations. In existing
firms, executives’ personal
values have been found to
affect corporate strategy,
intuition has been shown to
play an important role in
executive problem solving
and planning, and the IMPACT OF INTENTIONS
beliefs and perceptions of
top managers have been
found to directly affect the
Entrepreneurial Intention
organizations they lead.
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 CONTEXTOF
INTENTIONALITY

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DETERMINANTS OF ENTREPRENEURIAL INTENTIONS1Per Davidsson Jönköping
International Business School (JIBS) S-551 11 Jönköping SWEDEN Phone: (+46) 36 156430;
Fax: (+46) 36 165069; e-mail: [email protected] prepared for the RENT IX
Workshop, Piacenza, Italy, Nov. 23-24, 1995

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The reasoning behind the relationships suggested by the model will be
clarified below.

Intention. The decision to start a new firm is

assumed to be planned for some time and thus
preceded by an intention to do so. However, in
some cases this intention is formed only shortly
before the actual decision and in some other cases
the intention never leads to actual behavior. Hence,
entrepreneurial intentions are assumed to predict,
although imperfectly, individuals’ choice to found
their own firms.

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Conviction. The model suggests that a major determinant of
entrepreneurial intention is the individual’s conviction that this
career is a suitable alternative for him/her.
This concept is similar to perceived self-efficacy, which has been
included in previous theoretical expositions (Boyd & Vozikis, 1994;
Krueger & Brazael, 1994; Krueger & Carsrud, 1993) as well as in
empirical research on entrepreneurial intentions and behavior
(Scherer et al, 1989; Krueger, 1994).
However, the operationalization involves not only items of the ”I
would manage (and like) running my own firm” kind, but also items
suggesting that such a choice would be instrumental in terms of
improving one’s economic standard or make it possible to stay in
the preferred place of living. The conviction variable can be
regarded as a variety of Aact in Ajzen-Fishbein type attitude models
(Ajzen & Fishbein, 1980). Further, conviction is a central concept in
Rogers’ (1983) model of adoption of innovations; a process which
should not be psychologically completely dissimilar from the process
leading to the decision to found one’s own firm.
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Situation. The importance of situational factors for the entrepreneurial decision is
highlighted in the models proposed by Bird (1993), Martin (1984) and Shapero &
Sokol (1982).
What the authors discuss is factors like ”displacement”, being ”between things”, or
facing a ”window of opportunity” or ”free-choice period”.
The current employment status--and changes in it--can be assumed to be one
of the most important situational influences.
Although not all studies reach the same conclusion (cf. Hamilton, 1989; Reynolds,
1991) various types of research have indicated a positive relationship between
unemployment and firm formation (cf. Davidsson, Lindmark & Olofsson, 1994;
Reynolds, Storey & Westhead, 1994; Storey, 1994) and even that this type of
response to unemployment has increased in importance over time (Hamilton,
1988).
During the recent deep recession in Sweden, close to 30 percent of the business
founders stated that avoiding unemployment was the prime reason for
founding their own firms (SCB, 1994). In the US, Reynolds (1995) recently
found comparatively high proportions of nascent entrepreneurs (i.e., people who
are in the process of founding their own firm) among students and the
unemployed, whereas very low proportions were found among homemakers and
those in retirement.
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 In empirical testing, situational variables can be
assumed to have their strongest influence directly on
behavior, or on the strength of the relationship between
intentions and behavior (cf. Krueger & Carsrud, 1993).

Reynolds’ (1995) results suggest that a noticeable

influence on pre-decision variables should also be
assumed. In the model in Figure 1, current employment
status is assumed to affect intention (since firm formation
is considered planned behavior) and conviction (because
the reactions to some of the items in that index are likely to
be sensitive to the respondents’ current situation).

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The results concerning the effects of personal background variables on
attitudes when summarized resulted in the following observations:

The explanatory power is generally low. That is, the larger part of
the variation in attitudes is likely to be attributable to more
idiosyncratic experiences than the general personal background
factors included in the models.
With one small exception, each variable group is ascribed at least
some significant effect on each general and domain attitude
variable.
The gender difference in entrepreneurial intentions is partly
mediated by differences in attitudes. Both for general and domain
attitudes the effects run in the same direction: males are more
likely than females to hold attitudes that positively affect
entrepreneurial conviction and intention.
Small firm work experience has a small effect on perceived know-
how but no other effects on attitudes.
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Both presence of role models and the perception of the merits of an
entrepreneurial career transmitted by those role models generally have
positive effects on attitudes. However, having a very close role model (father,
spouse) leads to relatively lower expected payoff.
In line with the bivariate results and the assumptions underlying the theoretical
model, but unlike previous multivariate analyses, effects are ascribed also to
education and experience with radical change. This means that effects of these
types of personal background factors on intentions are fully mediated by
attitudes. They may still have direct effects on entrepreneurial behavior without
affecting conviction and intention.
Apart from negative effects on valuation of money--which as a whole appears to
be a relatively unimportant variable--the effects of education are positive. It is
in most cases the education level that matters. Quite reasonably, however,
positive effects are ascribed to business education with respect to perceived
know-how and societal contribution.
No effect of immigrant status on expected payoff emerges. This suggests that on
the basis of these data alone it cannot be concluded that an overrepresentation of
immigrants among business founders is attributable to discrimination in other
parts of the work market.

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 For some of the established relationships the interpretation is
uncertain.
For example, immigrants’ higher scores on competitiveness and
valuation of money are in line with Lynn’s (1991) and Hofstede’s
(1980) results on Swedish culture, but they can hardly be regarded as
consequences of these individuals experience with radical change
(rather to their growing up in a different culture than the Swedish).
It can also be debated whether a positive role model influences
an individual’s general attitudes or if causality runs the other
direction. i.e., individuals with certain general attitudes make more
positive evaluations of entrepreneurial role models. Hence,
interpretations should be cautious.
All in all, the results lend considerable support to the notion that
many of the relationships between personal background factors
and entrepreneurial behavior that have been established in
previous research, and in the bivariate results presented above,
are mediated by differences in entrepreneurship-relevant
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 ONE CONCLUSION OF THIS STUDY
The research presented here neatly summarizes and
corroborates many previous findings in entrepreneurship
research.
Hopefully, the integration of the empirical relationships into a
model has added some meaningfulness.
The proposed model receives support in terms of reasonably high
explanatory power with respect to the central variables.
Further, some direct or indirect influence on entrepreneurial
intentions is ascribed to all variable groups that were included in
the model.
The strongest and most direct influence is ascribed to the
conviction variable, while the weakest and most indirect
influence emerges for education and experience with radical
change. The effects of current employment status turned out to
be relatively weak, but it could be demonstrated that this factor
is likely to be a more important factor for the actual start-up
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 ZOOM / GOOGLE MEET
VIDEO CONFERENCING
Graded Oral
Recitation : AGREE OR
DISAGREE
Males are more likely
ALTHOUGH THIS than females to hold
RESEARCH attitudes that positively
STUDY WAS affect entrepreneurial
DONE 25 YEARS
AGO, DOES THIS conviction and
STILL RESONATE intention.
TODAY?

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SURVEY
• 30 POINTS ACTIVITY
LIKELY INTENTIONS TO • 3 ATTEMPTS

BECOME AN AVAILABILITY

ENTREPRENEUR: SURVEY 3524 – day, Oct. , 2020 - p.m. up to day, Oct. ,2020 –
p.m.
FROM UNIVERSITY
3525 – day, Oct. , 2020 - p.m. up to day, Oct. ,2020 –
STUDENTS OF KARACHI p.m.

Nadia Nazir Awan Nawaz Ahmad 3527 – day, Oct. , 2020 - p.m. up to day, Oct. ,2020 –
p.m.

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 ThankYou
Younglin J. Hitutuane, MBA

Business and Entrepreneurship

Business and
Entrepreneurship Dept.

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