• 00:00    |    
    Initial credits
  • 00:06    |    
    What does an economist know about entrepreneurship?
  • 01:53    |    
    Increased interest about entrepreneurship among scholars
  • 03:15    |    
    Austrian School of Economics
  • 04:16    |    
    Universidad Francisco Marroquín, a place to study entrepreneurship
  • 05:31    |    
    Importance of entrepreneurship
  • 06:39    |    
    Interest of academics in entrepreneurs
  • 07:44    |    
    What can economics and economic theory say about entrepreneurship?
  • Israel Kirzner
  • 08:56    |    
    What do we mean by opportunity?
    • Definition
    • Ideas with potential to create economic value
  • 12:15    |    
    Theorizing opportunities
  • 12:43    |    
    Opportunity recognition
  • Serendipity
  • 14:02    |    
    Active idea generating and evaluating processes
    • Recognizing trends
      • Twitter
      • Example of taking advantage of trends
    • Solving practical problems
    • eBay
    • Looking for gaps in the market
    • Dell computers
  • 25:35    |    
    Valuable opportunities only after the fact
  • Steve Jobs' failures
  • 28:52    |    
    Risks or uncertainties
  • 29:45    |    
    Investing resources
  • 30:54    |    
    Economic policy, government policy and the role of institutions in entrepreneurship
    • Value creation
    • What can government officials do?
  • 36:44    |    
  • Anecdote about John Kenneth Galbraith's advice
  • 39:26    |    
    Question and answer period
    • How early can we start the process of education about entrepreneurship?
      • Explaining the importance of innovation, change and being creative
      • Examples
    • If someone asks you, would you say you are an entrepreneur? Why?
    • Would you share some of your ideas on the relation of the uncertainty concept of n written by Nassim Taleb and the new book he is writing?
      • Distinguishing between risk and uncertainty
      • Analyzing uncertainty
    • What do you think about the lack of independence to pursue what we want or need?
    • Expected pattern
  • 57:46    |    
    Final credits

First Tuesday: Opportunity and Value Proposition

  | 06 de septiembre de 2011  | Vistas: 58

Entrepreneurship Opportunity

Peter Klein discusses the connection between economy and entrepreneurship by explaining what economics and economic theory can say about entrepreneurial activities. Klein also points out how, in the past years, there has been an increase in interest about entrepreneurship among students of other disciplines. The main objective of his conference is to describe opportunities and emphasize value proposition during the process of generating ideas. He shares different examples to clarify how opportunity recognition takes place; by identifying trends, solving practical problems and looking for gaps in the market. He concludes talking about the importance of analyzing uncertainty and risk when investing resources; and the role of institutions, economic policy and government policy in entrepreneurship.


Economist, professor and researcher