Wednesday, December 13, 2017

Entrepreneurial Mindset

is the specific state of mind which orientates human conduct towards entrepreneurial activities and outcomes.
Individuals with entrepreneurial mindsets are often drawn to
opportunities,
innovation, and
new value creation.

This would be a specialized growth mindset as opposed to fixed mindset.
Mindset: The New Psychology of Success, Stanford Professor Carol
S. Dweck presented her research showing that hard work and mindset impact success more than natural talent.
An entrepreneurial mindset stands alone in terms of its importance in these areas.
No other attribute, personality, inherent entrepreneurial proclivities, training, or demographic profile is common to all successful entrepreneurs
whether Warren Buffet, Steve Jobs, or the neighborhood florist or grocer. 

Saturday, December 2, 2017

The difference between Exploitation, exploration and ambidextrous

Exploitation: when firm making small exploitative changes to the existing technology and the existing customer base and how you reach them.
And when firm making some exploration either finding ways to incorporate very different technologies, or getting two very different markets, or some combination of both.

While balancing, exploration, and exploitation in the established firm, being ambidextrous because you can work with both hands and balance these two activities.