Why do some entrepreneurs succeed and others failed? The Timmons framework
Successful entrepreneurs share common attitudes and behaviors. They possess not only a creative and innovative flair, but also solid general management skills, business know-how, and sufficient contact. Some other failed attributing to mainly incompetence. These entrepreneurs do not know how to run...
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| Main Authors: | , |
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| Format: | Book Section |
| Language: | English |
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ASEAN Universities Consortium of Entrepreneurship Education (AUCEE)
2010
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| Online Access: | http://repo.uum.edu.my/2984/1/Pages_from_The_First_Seminar_on._Entrepreneurship_and_Social_Development_in_Asean2277.pdf http://repo.uum.edu.my/2984/ |
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| Institution: | Universiti Utara Malaysia |
| Language: | English |
| Summary: | Successful entrepreneurs share common attitudes and behaviors. They possess not only a creative and innovative flair, but also solid general management skills, business know-how, and sufficient contact. Some other failed attributing to mainly incompetence. These entrepreneurs do not know how to run the enterprise. They make major mistakes that an experienced, well-trained entrepreneur would quickly see and usually sidestep. In tying to explain this phenomenon, Timmons develops a framework relating the driving forces that dominate the entrepreneurial process. The Timmons model incorporates the following aspects: (a) It is opportunity driven; (b)It is driven by a lead entrepreneur and an entrepreneurial team; (c) It is resource parsimonious and creative; (d) It depends on the fit and balance among these; and (e) It is integrated and holistic. |
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