MIDWIFERY
ENTREPRENEURS
HIP
MARILOU M. PAMINTUAN
MIDWIFERY
ENTREPRENEURS
HIP
•MARILOU M.
PAMINTUAN
• The subject deals with the
COURSE challenging opportunities for
DESCRIPTION midwives, to look deeper
into their profession and
venture it into a value-laden
entrepreneurial endeavor. It
includes the concepts of
entrepreneurship stages of
developing business and
requirements for licensing a
birthing facility.
Course Outcomes
Discuss the concepts, qualities and
components of entrepreneurship
Determine the risk, resources,
intervention and elements of
entrepreneurship.
Understand the process of midwifery
entrepreneurship.
Understand policies, standard and
requirements in opening birthing
clinic.
Entrepreneurship
• Entrepreneurial spirit is
characterized by
innovation
and risk-taking
• An essential component
of a nation’s ability to
succeed in an ever
changing and more
competitive global
Common Characteristics of
Entrepreneurs
• Calculated
Commitment,riskdetermination,
taking and perseverance
• Tolerance
Drive to achieve
for failure
• High
Opportunity
energy level
orientation
• Creativity
Initiative and
and responsibility
Innovativeness
• Vision
Persistent problem solving
• Self-confidence
Seeking feedbackand optimism
• Independence
Internal locus of control
• Team
Tolerance
building
for ambiguity
2–9
COMPONENTS OF
ENTERPRENEURSHIP
A.Intellectu
al
B.Emotional
PASSION OF ENTERPRENEURSHIP
PASSION OF ENTERPRENEURSHIP
SIX CARDINALS OF
ENTREPRENEURSHIP
• What to produce
• Who is to provide
• Where to produce
• When to produce
• Why produce
• How to produce
Click icon to add picture
Entrepreneurs versus
Small Business Owners
Small Businesses Owners
Manage their businesses by expecting stable sales, profits,
and growth
Entrepreneurs
Focus their efforts on innovation, profitability and
sustainable growth
1–17
Entrepreneurship: A Mindset
• Entrepreneurship is more than the mere creation of
business:
• Seeking opportunities
• Taking risks beyond security
• Having the tenacity to push an idea through to reality
• Entrepreneurship is an integrated concept that permeates
an individual’s business in an innovative manner.
© 2009 South-Western, a part of Cengage Learning. All rights reserved. 1–18
The Myths of Entrepreneurship
• Myth 1: Entrepreneurs Are Doers, Not Thinkers
• Myth 2: Entrepreneurs Are Born, Not Made
• Myth 3: Entrepreneurs Are Always Inventors
• Myth 4: Entrepreneurs Are Academic and Social Misfits
• Myth 5: Entrepreneurs Must Fit the “Profile”
• Myth 6: All Entrepreneurs Need Is Money
• Myth 7: All Entrepreneurs Need Is Luck
• Myth 8: Ignorance Is Bliss For Entrepreneurs
• Myth 9: Entrepreneurs Seek Success But Experience
High Failure Rates
• Myth 10: Entrepreneurs Are Extreme Risk Takers (Gamblers)
© 2009 South-Western, a part of Cengage Learning. All rights reserved. 1–19
Process Approaches to
Entrepreneurship
• Integrative Approach
• Built around the concepts of inputs to the entrepreneurial process
and outcomes from the entrepreneurial process.
• Focuses on the entrepreneurial process itself and identifies five
key elements that contribute to the process.
• Provides a comprehensive picture regarding the nature of
entrepreneurship that can be applied at different levels.
© 2009 South-Western, a part of Cengage Learning. All rights reserved. 1–20
Figure
1.2 An Integrative Model of Entrepreneurial Inputs and Outcomes
© 2009 South-Western, a part of Cengage Learning. All rights reserved. 1–21
Source: Michael H. Morris, P. Lewis, and Donald L. Sexton, “Reconceptualizing Entrepreneurship:
An Input-Output Perspective,” SAM Advanced Management Journal 59, no.1 (Winter 1994): 21–31.
Outline of the Entrepreneurial
Organization
Imagination
Imagination
Acceptanc
Acceptanc
Flexibility
Flexibility ee of
of Risks
Risks
© 2009 South-Western, a part of Cengage Learning. All rights reserved. 2–22
Table
2.1 Characteristics Often Attributed to Entrepreneurs
1. Confidence 15. Intelligence 29. Pleasant personality
2. Perseverance, determination 16. Orientation to clear goals 30. Egotism
3. Energy, diligence 17. Positive response to 31. Courage
challenges 32. Imagination
4. Resourcefulness
18. Independence 33. Perceptiveness
5. Ability to take calculated risks
19. Responsiveness to 34. Toleration of ambiguity
6. Dynamism, leadership
suggestions and criticism
7. Optimism 35. Aggressiveness
20. Time competence, efficiency
8. Need to achieve 36. Capacity for enjoyment
21. Ability to make decisions
9. Versatility; knowledge of quickly 37. Efficacy
product, market, machinery, 38. Commitment
22. Responsibility
technology
23. Foresight 39. Ability to trust workers
10. Creativity
24. Accuracy, thoroughness 40. Sensitivity to others
11. Ability to influence others
25. Cooperativeness 41. Honesty, integrity
12. Ability to get along well with
people 26. Profit orientation 42. Maturity, balance
13. Initiative 27. Ability to learn from mistakes
14. Flexibility 28. Sense of power
© 2009 South-Western, a part of Cengage Learning. All rights reserved. 2–23
Source: John A. Hornaday, “Research about Living Entrepreneurs,” in Encyclopedia of Entrepreneurship, ed. Calvin
Kent, Donald Sexton, and Karl Vesper, © 1982, 26–27. Adapted by permission of Prentice-Hall, Englewood Cliffs, NJ.
The Dark Side of
Entrepreneurship
• The Entrepreneur’s Confrontation with Risk
• Financial risk versus profit (return) motive varies in
entrepreneurs’ desire for wealth.
• Career risk—loss of employment security
• Family and social risk—competing commitments of work and
family
• Psychic risk—psychological impact of failure on the well-being of
entrepreneurs
© 2009 South-Western, a part of Cengage Learning. All rights reserved. 2–24
Stress and the Entrepreneur
• Entrepreneurial Stress
• The extent to which entrepreneurs’ work demands and expectations exceed their
abilities to perform as venture initiators, they are likely to experience stress.
• Causes of Entrepreneurial Stress
• Loneliness
• Immersion in business
• People problems
• Need to achieve
© 2009 South-Western, a part of Cengage Learning. All rights reserved. 2–25
Defining Ethics
• Ethics
• A set of principles prescribing a behavioral code that explains what is good and
right or bad and wrong; ethics may outline moral duty and obligations.
• Provide the basic rules or parameters for conducting any activity in an
“acceptable” manner.
• Reasons for Ethical Conflicts
• The many interests that confront business enterprises both inside and outside
the organization
• Changes in values, mores, and societal norms
• Reliance on fixed ethical principles rather than an ethical process
© 2009 South-Western, a part of Cengage Learning. All rights reserved. 4–26
Figure
4.2 Overlap between Moral Standards and Legal Requirements
© 2009 South-Western, a part of Cengage Learning. All rights reserved. 4–27
A Holistic Approach
• Principle 1: Hire the right people
• Principle 2: Set standards more than rules
• Principle 3: Don’t let yourself get isolated
• Principle 4: The most important principle is
to let your ethical example at all times be
absolutely impeccable
© 2009 South-Western, a part of Cengage Learning. All rights reserved. 4–28
Shaping an Ethical Strategy
• The entrepreneur’s guiding values and commitments must make sense and be clearly
communicated.
• Entrepreneurs must be personally committed, credible, and willing to take action on
the values they espouse.
• The espoused values must be integrated into the normal channels of the
organization’s critical activities.
• The venture’s systems and structures must support and reinforce its values.
• Employees throughout the company must have the decision-making skills, knowledge,
and competencies needed to make ethically sound decisions every day.
© 2009 South-Western, a part of Cengage Learning. All rights reserved. 4–29
Source: Adapted from Lynn Sharp Paine, “Managing for Organizational Integrity,” Harvard Business Review (March/April 1994): 106–117.
Figure
4.3 Four Main Themes of Ethical Dilemmas for Entrepreneurs
© 2009 South-Western, a part of Cengage Learning. All rights reserved. 4–30
Source: Shailendra Vyakarnam, Andy Bailey, Andrew Myers, and Donna Burnett, “Towards an
Understanding of Ethical Behavior in Small Firms,” Journal of Business Ethics 16(15) (1997): 1625-1636.
Entrepreneurial Imagination and
Creativity
• How entrepreneurs do what they do:
• Creative thinking + systematic analysis = success
• Seek out unique opportunities to fill needs and wants
• Turn problems into opportunities
• Recognize that problems are to solutions what demand is to
supply
© 2009 South-Western, a part of Cengage Learning. All rights reserved. 5–31
The Role of Creative Thinking
• Creativity
• The generation of ideas that result in the improved efficiency or
effectiveness of a system.
• Two important aspects of creativity exist:
• Process
• The process is goal oriented; it is designed to attain a solution to a
problem.
• People
• The resources that determine the solution.
© 2009 South-Western, a part of Cengage Learning. All rights reserved. 5–32
Principles of Innovation
Be action oriented.
Make the product, process, or service simple and understandable.
Make the product, process, or service customer-based.
Start small.
Aim high.
Try/test/revise.
Learn from failures
Follow a milestone schedule.
Reward heroic activity.
Work, work, work.
© 2009 South-Western, a part of Cengage Learning. All rights reserved. 5–33
