This shows what entrepreneurs need to know in carrying out business development

1. TOPIC:
CORPORATE ENTREPRENEURSHIP

2. Introduction and definition of CE
• Corporate Entrepreneurship as a concept is explained by various
researchers using different terms like Entrepreneurial organisation/
intrapreneurship/ corporate venture and internal corporate venture.
• CE is often used to depict entrepreneurial behaviour inside
established medium and large organizations. Sometimes they are
referred to as ‘organizational entrepreneurship,” “intrapreneurship,”
or “champions”.
• Corporate entrepreneurship involves the generation, development
and implementation of new ideas and behaviours by individuals
within the organisation.
• CE is a process of creating new business within established firms to
improve organisational profitability and enhance a company’s
competitive position.

3. Introduction and definition of CE
• Corporate entrepreneurship implies the ability to promote an
entrepreneurial culture within a large firm, continually seek
opportunities, foster innovation and accept new ways of
carrying out business
• CE therefore, may be formal or informal activities targeted
towards the creation of new businesses in established firms by
undertaking any form of innovation.
• Intrapreneurship refers to entrepreneurial activities that occur
within an existing organisation
• Corporate entrepreneurship enables firms to better utilize their
resources. Moreover, corporate entrepreneurship helps them
seizing opportunities that progress their current businesses.

4. Types of corporate entrepreneurship
• Corporate Venturing entails creating new businesses within a
corporation, either by creating and owning the businesses or by
creating new businesses outside the corporation and then
invested in or acquired by the corporation
• Corporate venturing are carried out by small team
• Corporate venturing occurs when a firm enters into
shareholding or a joint agreement with another firm, which is
usually smaller and in possession of specialist capabilities, such
as innovative technology or management and marketing
expertise

5. Types of CE…
• Innovation, means behavior transforming the company and
the competitive environment or industry into something
completely different than what it used to be.
• It is all about changing the rules of competition for the
organization’s industry.
• It often occurs in new industries and usually represents
innovations that are associated with new combinations of
resources.

6. Types of CE….
• Organizational renewal is a more expansive way of
organizations that are changing the way resources are specified
and distributed in order to achieve better and sustainable
overall economic performance
• Hence, organizational renewal entails doing business in a
completely different way than before

7. STRATEGIES FOR FACILITATING
COROPORATE ENTREPRENEURSHIP
• Employment of enthusiastic staff that can champion entrepreneurial
initiatives and climate.
• The inception and maintenance of an entrepreneurial culture must
be preceded the following conditions
• Encourage and support new ideas (creativity) even if it appears odd
with short term profit because the more ideas the more innovations.
• Encourage trial and error by allocating time for employees to
brainstorm and experiment, especially by allowing the technical
people to spend about 15 percent of their time working on whatever
they want.

8. STRATEGIES FOR FACILITATING
COROPORATE ENTREPRENEURSHIP
• Encourage people to avoid rigid procedures and bureaucratic red
tape.
• Structure the organogram of the firm to encourage informal
communication and informal meetings whenever possible.
• Create a system of feedback and positive reinforcement by
rewarding any innovation for innovation sake and moreover, reward
and promote innovative personnel.
• Emphasize personal commitment and responsibility because
confidence, trust and accountability are main features of successful
innovative programs.
• Stay close to customers.
• Use the language, acronyms, jargon, slangs, signs, slogans,
metaphors, gossip, gesture, and songs that portray innovation.

9. STRATEGIES FOR FACILITATING COROPORATE
ENTREPRENEURSHIP
• Encourage multi-skilled teams through networking and
collaborations but keep divisions small.
• Allow and tolerate failure, no failure means no innovation.
Failure is a learning curve.
• Allocate adequate resources for research and development
(R&D) and also cutting edge operations in particular corporate
venturing or strategic entrepreneurship of choice.
• Allow approval with/out management authorization or
supervision for employees to keep rolling out new ideas. This
will also serve as inspiration for others to do the same.

10. Benefits of corporate entrepreneurship
• Achieving organization’s competitive advantage through internally
generated innovations that significantly alter the balance of competition
within an industry.
• Enables a firm to retain and sustain innovative staff and their
contributions
• Helps to exploit the underutilized resources by outsourcing the internal
capabilities that have been lying dormant
• Leads to the development of new products and services and helps the
organization expand and grow.

11. Benefits…….
• renew and refresh the existing business
• pursue entrepreneurial opportunities
• foster strategic renewal of existing operations
• improve growth and profitability
• sustain corporate competitiveness
• increase financial performance
• create new value.

12. TOPIC:
ENTREPRENEURIAL RESOURCES

13. ENTREPRENEURIAL RESOURCES
• A resource is something an organization owns or has access to
even if that access is temporary.
• A resource is anything that helps entrepreneurs to develop their
business.
• Resources are inputs into the production process – they are the
basic units of analysis.

14. WHAT ARE ENTREPRENEURIAL RESOURCES
• Entrepreneurial resources are assets that are mobilized by entrepreneurs
in the process of building a business.
• Entrepreneurial resources are both tangible and intangible. E.g financial
resources (tangible) & knowledge (intangible).
• The main reason for firms to grow and have success can be found inside
of the firms, that is, firms with resources and superior capabilities will build
up a basis for gaining and sustaining competitive advantage.

15. ENTREPRENEURIAL RESOURCES
• The individual resources of the firm include items of capital
equipment, intellectual assets, patents, brand names, and so on.
• A capability is the capacity for a team of resources to perform some
task or activity.
• While resources are the source of the firm’s capabilities, capabilities
are the main source of its competitive advantage.

16. Types of resources
Tangible resources; Tangible resources are assets that have a physical
form. They can be seen, touched, and felt.
Tangible resources differ between product-based and service-based businesses.
A product-based business uses tangible resources in the production of goods sold
to customers, such as raw materials, land, facilities, buildings, machinery,
computers, supplies, and vehicles.
Tangible resources for a service-based business are resources that the business
needs to provide its services and run operations. they include computers, office
equipment, furniture, and technological resources.

17. Types of resources………..
Intangible resources; are assets that cannot be seen, touched, or felt.
They consist of knowledge, skills, reputation among others
Intellectual property—which includes creative imaginings such as
formulas, designs, brands, and inventions—is an intangible resource, and
so are the patents, trademarks, and copyrights that protect the
intellectual property.

18. Resources can be categorized in terms of;
Financial Resources: these can be obtained from a variety of sources, i.e. personal
savings, friends and relatives, private investors, loans, grants, etc.
Human Resources: Employees i.e. talent, skills, knowledge.
Educational Resources: these can be found from professional trade associations,
incubation centers, magazines, trade shows.
Physical Resources: includes a proper work space, working telephone line, adequate
information systems etc.
Emotional Resources: Starting a business can be an extremely stressful activity for an
entrepreneur to undertake. A support system is needed in terms of friends, family, mentors
etc.

19. The Resource Based View
• The Resource Based View states that an organization’s
performance is determined by the resources at its disposal.
• The Resource Based View draws upon the resources and
capabilities that reside within the organization in order to
develop sustainable competitive advantages.
• The way these resources are used enable the firm to perform
and can provide a distinct competitive advantage.

20. The Resource Based View
• According to RBV, not all the resources of business are strategic
or offer a competitive advantage.
• Competitive advantage occurs only when there is a situation of
resource heterogeneity and resource immobility.

21. Characteristics of Competitive resources;
1 Valuable; a resource is valuable if it helps firms in exploiting market
opportunities or helps in reducing market threats.
2. Rare (unique): Resources must be difficult to find among the existing
and potential competitors of the firm. Hence resources must be rare to offer
competitive advantages.
3 Imperfect Imitability: resources must be difficult for competitors to
copy or imitate. Firms get competitive advantage from imperfect imitability.
4. Non-Substitutability: this means that resources can’t be substituted by
another alternative resource. Here, competitor can’t achieve same
performance by replacing resources with other alternative resources.