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Corporate entrepreneurship
Corporate entrepreneurship
Corporate entrepreneurship
Corporate entrepreneurship
Corporate entrepreneurship
Corporate entrepreneurship
Corporate entrepreneurship
Corporate entrepreneurship
Corporate entrepreneurship
Corporate entrepreneurship
Corporate entrepreneurship
Corporate entrepreneurship
Corporate entrepreneurship
Corporate entrepreneurship
Corporate entrepreneurship
Corporate entrepreneurship
Corporate entrepreneurship
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Corporate entrepreneurship

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Corporate entrepreneurship

Corporate entrepreneurship

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  • 1. Corporate Entrepreneurship
  • 2. The Nature of Corporate Entrepreneurship • Defining The Concept – Corporate Entrepreneurship • Activities that receive organizational sanction and resource commitments for the purpose of innovative results. – A process whereby an individual or a group of individuals, in association with an existing organization, creates a new organization or instigates renewal or innovation within the organization. – A process that can facilitate firms’ efforts to innovate constantly and cope effectively with the competitive realities that companies encounter when competing in international markets.
  • 3. The Need for Corporate Entrepreneuring • Rapid growth in the number of new and sophisticated competitors • Sense of distrust in the traditional methods of corporate management • An exodus of some of the best and brightest people from corporations to become small business entrepreneurs • International competition • Downsizing of major corporations • An overall desire to improve efficiency and productivity
  • 4. The Corporate Entrepreneurship Process Strategic Strategic Renewal Renewal Innovation Innovation Corporate Corporate Entrepreneurship Entrepreneurship Corporate Corporate Venturing Venturing
  • 5. INNOVATION
  • 6. Types of Innovation • Radical Innovation – The launching of inaugural breakthroughs. – These innovations take experimentation and determined vision, which are not necessarily managed but must be recognized and nurtured. • Incremental Innovation – The systematic evolution of a product or service into newer or larger markets. – Many times the incremental innovation will take over after a radical innovation introduces a breakthrough.
  • 7. Rules for an Innovative Environment 1. Encourage action. 2. Use informal meetings whenever possible. 3. Tolerate failure and use it as a learning experience. 4. Persist in getting an idea to market. 5. Reward innovation for innovation’s sake. 6. Plan the physical layout of the enterprise to encourage informal communication. 7. Expect clever bootlegging of ideas—secretly working on new ideas on company time as well as personal time. 8. Put people on small teams for future-oriented projects. 9. Encourage personnel to circumvent rigid procedures and bureaucratic red tape. 10. Reward and promote innovative personnel.
  • 8. STRATEGY
  • 9. Conceptualizing Corporate Entrepreneurship Strategy • Corporate Entrepreneurship Strategy – A vision-directed, organization-wide reliance on entrepreneurial behavior that purposefully and continuously rejuvenates the organization and shapes the scope of its operations through the recognition and exploitation of entrepreneurial opportunity. – It requires the creation of congruence between the entrepreneurial vision of the organization’s leaders and the entrepreneurial actions of those throughout the organization.
  • 10. Critical steps of a corporate entrepreneurial strategy – Developing the vision – Encouraging innovation – Structuring for an intrapreneurial climate – Developing individual managers for corporate entrepreneurship – Developing venture teams.
  • 11. CORPORATE VENTURING
  • 12. CORPORATE VENTURING • Reestablishing the drive to innovate: – Invest heavily in entrepreneurial activities that allow new ideas to flourish in an innovative environment. – Provide nurturing and information-sharing activities. – Employee perception of an innovative environment is critical. • Corporate Venturing – Institutionalizing the process of embracing the goal of growth through development of innovative products, processes, and technologies with an emphasis on long-term prosperity.
  • 13. Developing Individual Managers for Corporate Entrepreneurship 1. The Breakthrough Experience 2. Breakthrough Thinking 3. Idea Acceleration Process 4. Barriers and Facilitators to Innovative Thinking 5. Sustaining Breakthrough Teams 6. The Breakthrough Plan
  • 14. Preparing for Failure • “Learning from Failure” – Recognizing the importance of managing the grief process that occurs from project failure. – Understanding how organizational routines and rituals are likely to influence the grief recovery. – Ensuring that the organization’s social support system can encourage greater learning, foster motivational outcomes, and increase coping self-efficacy in affected individuals.
  • 15. SUCCESSFUL CORPORATE ENTREPRENEURSHIP – Think big . . . really big. – Bring in the A-team. – Start small. – Establish unique measurement techniques.
  • 16. THANK YOU!!!

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