MANAGEMT 7125OL - Entrepreneurial Mindset

The term entrepreneurship is often poorly understood based on adoption of a very narrow definition of 'starting a new business'. Founding a start-up is only one pathway available to individuals who utilise the unique skill set that underpins the entrepreneurial mindset. Also referred to as a growth mindset, the skills and capabilities that characterise an entrepreneurial mindset enable creative agile thinking, ability to recognise opportunity in a crowded competitive market, an experimentation mentality that accepts failure as a positive learning approach to problem solving, a competency to navigate ambiguity and the uncertainty of a constantly changing environment, plus a strong bias to action. Employers are beginning to understand the importance of fluid decision-making and adaptive enterprising skills, acknowledging these may become a mandatory expectation in job descriptions for managers at the workplace of the future. Whether a leader or manager in a large corporate, a company director, a policy maker or advisor in government, achieving social good through a purpose-driven enterprise, succession pathway in a family business, intrapreneuring as a respected and valuable employee, or the founder of your own venture, the challenges within today's global marketplace will demand an entrepreneurial attitude and skill set that enables mastery in cultivating and evaluating profitable opportunities and calculated risk management.