The Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty

The Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty

by Rita Gunther McGrath, Ian MacMillan
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Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty 4.5 out of 5 based on 0 ratings. 4 reviews.
Anonymous More than 1 year ago
Guest More than 1 year ago
Although this book focuses upon larger entrepreneurial companies, it is a great read for all entrepreneurs. A solid focus upon meeting market demand.
Guest More than 1 year ago

Bottom line first: Buy this book. Not only can you immediately implement the tools described, but it will also serve as an excellent reference tool. It is well worth the time invested to read it. Consider it as a $20 option on your career with limitless upside.

The Entrepreneurial Mindset illustrates the process for rationally generating, choosing among, executing, and monitoring strategic opportunities in the face of uncertainty. Starting from the premise that no market is so mature that you cannot further differentiate your offerings, the authors offer action-oriented, simple tools that help to assess opportunities for launching new products and entering new markets. And those tools aren't just simple, they're also smart and unconventional, providing insight into the minds of habitual entrepreneurs who have honed their skill in creating value time and again.

McGrath and MacMillan publish the checklists, questions, quizzes, and models it took them years to develop while working with management teams in established firms to discern original responses to business challenges. You can start applying the principles and tools in each chapter immediately, getting some good quick hits even before finishing the book. For example, Chapter 11 alone contains 8 tools for developing leading indicators of the business to help tell if a project is heading in the right direction, long before the results become available. Chapter 10 is a gem too. It is based on one of Harvard Business Review¿s most popular articles, ¿Discovery Driven Planning,¿ (written by the authors of this book) which was then developed into a course at Wharton¿s Executive Education Programs for several years.

Anyone who reads and implements the principles, strategies, and tools outlined in this book is sure create value, regardless of their corporate title, and it is a must-read for any strategy professional or executive manager. If you think your industry or business is too mature to benefit from this book, consider one of McGrath and MacMillan¿s many case studies that are fresh and actually worth studying: Blyth Industries boosted sales from $3 million in 1982 to nearly $500 million in 1996 by exploiting a mature industry. How mature? More than 5,000 years old: Blyth Industries sells candles.

Creating and nurturing an Entrepreneurial Mindset is a lot of fun and carries a lot of rewards, both professionally and personally. To quote the authors at the end of their first chapter: ¿If nobody knows what the future will hold, your vision of how to navigate it is as good as anyone¿s. The future may well belong to you.¿

Guest More than 1 year ago
The abilities of entrepreneurs have always fascinated me. They can start up new businesses and create new products without blinking an eye. The problem for most companies is they are stuck in tradional ways of doing business. These authors say that traditional companies CAN create new business models in the changing business environment. They present the common characteristics of entrepreneurs and provide a guide for organizations to model and create new products and services even when the conditions are uncertain. I would recommend this book for any company and any manager as the tools and guidelines that McGrath and MacMillan present can be used immediately and can help generate excitement within an organization of size and in any industry.