Paper on driving_innovation_in_large_corporationsmitecenter
This document discusses how three large companies - Danfoss, Hewlett-Packard, and Qualcomm - have used business plan competitions to stimulate innovation. It describes how each company has run its own competition annually or biannually that is open to all employees. The competitions aim to develop entrepreneurial skills, identify new business opportunities, and promote innovation. Employees submit business proposals and finalists present to executive judges. Winning teams receive funding and resources to develop their ideas further. The competitions have led to new ventures being launched and increased innovation within the companies.
Paper on driving_innovation_in_large_corporationsmitecenter
This document discusses how three large companies - Danfoss, Hewlett-Packard, and Qualcomm - have used business plan competitions to stimulate innovation. It describes how each company has run its own competition annually or biannually that is open to all employees. The competitions aim to develop entrepreneurial skills, identify new business opportunities, and promote innovation culture. Employees develop new venture ideas and proposals in teams, and finalists present to executive judges. Winning teams receive funding and resources to develop proposals further. Over time, some proposals have led to new internal businesses or spin-outs, helping the companies harness entrepreneurship to drive innovation.
Strengthening the National Innovation System of the Philippines: A continuing...Raymund Habaradas
The document discusses strengthening the Philippine national innovation system. It defines innovation and explains how interaction between institutions is key for a national innovation system. However, the Philippine system faces weaknesses like lack of linkages between knowledge producers and users, lack of continuity in policies, and inadequate funding support for innovation. It proposes strengthening the system by formulating a coherent innovation policy, providing adequate funding, and designing programs to support collaboration between government, industry and academia. The goal is to build a critical mass of innovative Filipino firms and strengthen the four pillars of the National Innovation Strategy known as "Filipinnovation".
how to apply entrepreneurial and strategic tools, techniques, and concepts in ways that help the firm create increasing amounts of wealth.
six domains: innovation, networks, internationalization,organizational learning, top management teams and governance, and growth.
The document discusses strategies for promoting innovation and economic growth through technology commercialization. It focuses on the TECNA conference in 2011 and Maryland's efforts to support innovation and entrepreneurs. Maryland's Technology Development Corporation (TEDCO) provides various funding programs to support technology transfer, startups, and helping existing companies modernize. To date, TEDCO's investments have led to over $435 million in downstream funding for the companies it supports.
The document discusses creativity and innovation in business, covering topics such as the characteristics and components of innovation, different models of the innovation process, factors that influence innovation, and how organizations can foster cultures and structures to promote innovation. It provides an overview of key aspects of managing innovation, including organizing structures for innovation, strategies to encourage a creative climate, and approaches to research and development management.
World Innovation Forum Survey Full Details FinalDianne
The document discusses a survey on innovation conducted by Capgemini. Some key findings:
- Innovation leaders (over 75% success rate) significantly outperform the market financially over 5 years.
- Most companies continued innovating during the recession, with leaders using it as a transformation opportunity.
- Successful innovation is customer-focused, intentional, and creates value.
- Day-to-day business demands are the top barrier to breakthrough innovation.
- Innovation leaders engage employees at all levels and take advantage of external partners and customers more than others.
- Having executive commitment to innovation and aligning innovation with strategic vision correlates with success.
The document discusses key factors that contribute to competitiveness including innovation, finance, human resources, infrastructure, governance, and marketing. It outlines the key stages of activity as discovery, development, and deployment. The key input requirements to enable these activities are innovation, finance, human resources, infrastructure, and governance. The document then discusses how South Carolina's economy relies on low-wage, low-growth industries and how developing a hydrogen/next energy cluster could establish South Carolina as a high-tech region. It outlines the key processes of leading technology clusters as research, commercialization, entrepreneurship, and global company formation.
Paper on driving_innovation_in_large_corporationsmitecenter
This document discusses how three large companies - Danfoss, Hewlett-Packard, and Qualcomm - have used business plan competitions to stimulate innovation. It describes how each company has run its own competition annually or biannually that is open to all employees. The competitions aim to develop entrepreneurial skills, identify new business opportunities, and promote innovation. Employees submit business proposals and finalists present to executive judges. Winning teams receive funding and resources to develop their ideas further. The competitions have led to new ventures being launched and increased innovation within the companies.
Paper on driving_innovation_in_large_corporationsmitecenter
This document discusses how three large companies - Danfoss, Hewlett-Packard, and Qualcomm - have used business plan competitions to stimulate innovation. It describes how each company has run its own competition annually or biannually that is open to all employees. The competitions aim to develop entrepreneurial skills, identify new business opportunities, and promote innovation culture. Employees develop new venture ideas and proposals in teams, and finalists present to executive judges. Winning teams receive funding and resources to develop proposals further. Over time, some proposals have led to new internal businesses or spin-outs, helping the companies harness entrepreneurship to drive innovation.
Strengthening the National Innovation System of the Philippines: A continuing...Raymund Habaradas
The document discusses strengthening the Philippine national innovation system. It defines innovation and explains how interaction between institutions is key for a national innovation system. However, the Philippine system faces weaknesses like lack of linkages between knowledge producers and users, lack of continuity in policies, and inadequate funding support for innovation. It proposes strengthening the system by formulating a coherent innovation policy, providing adequate funding, and designing programs to support collaboration between government, industry and academia. The goal is to build a critical mass of innovative Filipino firms and strengthen the four pillars of the National Innovation Strategy known as "Filipinnovation".
how to apply entrepreneurial and strategic tools, techniques, and concepts in ways that help the firm create increasing amounts of wealth.
six domains: innovation, networks, internationalization,organizational learning, top management teams and governance, and growth.
The document discusses strategies for promoting innovation and economic growth through technology commercialization. It focuses on the TECNA conference in 2011 and Maryland's efforts to support innovation and entrepreneurs. Maryland's Technology Development Corporation (TEDCO) provides various funding programs to support technology transfer, startups, and helping existing companies modernize. To date, TEDCO's investments have led to over $435 million in downstream funding for the companies it supports.
The document discusses creativity and innovation in business, covering topics such as the characteristics and components of innovation, different models of the innovation process, factors that influence innovation, and how organizations can foster cultures and structures to promote innovation. It provides an overview of key aspects of managing innovation, including organizing structures for innovation, strategies to encourage a creative climate, and approaches to research and development management.
World Innovation Forum Survey Full Details FinalDianne
The document discusses a survey on innovation conducted by Capgemini. Some key findings:
- Innovation leaders (over 75% success rate) significantly outperform the market financially over 5 years.
- Most companies continued innovating during the recession, with leaders using it as a transformation opportunity.
- Successful innovation is customer-focused, intentional, and creates value.
- Day-to-day business demands are the top barrier to breakthrough innovation.
- Innovation leaders engage employees at all levels and take advantage of external partners and customers more than others.
- Having executive commitment to innovation and aligning innovation with strategic vision correlates with success.
The document discusses key factors that contribute to competitiveness including innovation, finance, human resources, infrastructure, governance, and marketing. It outlines the key stages of activity as discovery, development, and deployment. The key input requirements to enable these activities are innovation, finance, human resources, infrastructure, and governance. The document then discusses how South Carolina's economy relies on low-wage, low-growth industries and how developing a hydrogen/next energy cluster could establish South Carolina as a high-tech region. It outlines the key processes of leading technology clusters as research, commercialization, entrepreneurship, and global company formation.
The document summarizes a study on establishing a Technology Transfer Facility (TTF) by the International Finance Corporation (IFC) and World Bank Group (WBG) to support commercialization of emerging market innovations. Key findings include:
1) Universities in emerging markets have growing research but lack capacity for technology transfer and commercialization.
2) The TTF would provide advisory services, financing, and support to build capacity at research institutions in emerging and developing countries.
3) Pilot programs could test interventions like advisory services, financing vehicles, and monitoring economic impact to strengthen technology transfer globally.
Senior Seminar in Business AdministrationBUS 499 Strategic.docxedgar6wallace88877
Senior Seminar in Business Administration
BUS 499
Strategic Entrepreneurship
Welcome to Senior Seminar in Business Administration.
In this lesson we will discuss Strategic Entrepreneurship.
Please go to the next slide.
Objectives
Upon completion of this lesson, you will be able to:
Analyze strategic entrepreneurship and corporate entrepreneurship.
Upon completion of this lesson, you will be able to:
Analyze strategic entrepreneurship and corporate entrepreneurship.
Please go to the next slide.
Supporting Topics
Entrepreneurship and Entrepreneurial Opportunities
Innovation
Entrepreneurs
International Entrepreneurship
Internal Innovation
Implementing Internal Innovation
Innovation Through Cooperative Strategies
Innovation Through Acquisitions
Creating Value Through Strategic Entrepreneurship
In order to achieve this objective, the following supporting topics will be covered:
Entrepreneurship and entrepreneurial opportunities;
Innovation;
Entrepreneurs;
International entrepreneurship;
Internal innovation;
Implementing internal innovation;
Innovation through cooperative strategies;
Innovation through acquisitions; and
Creating value through strategic entrepreneurship.
Please go to the next slide.
Entrepreneurship and Entrepreneurial Opportunities
Definition
Entrepreneurial Opportunities
Essence of Entrepreneurship
Entrepreneurship is the process by which individuals or groups identify and pursue entrepreneurial opportunities without being immediately constrained by the resources they currently control.
Entrepreneurial opportunities are conditions in which new goods or services can satisfy a need in the market. These opportunities exist because of competitive imperfections in markets and among the factors of production used to produce them or because they were independently developed by entrepreneurs. Entrepreneurial opportunities come in a host of forms such in a new market. Firms should be receptive to pursuing entrepreneurial opportunities whenever and wherever they may surface.
The essence of entrepreneurship is to identify and exploit entrepreneurial opportunities; that is, opportunities others do not see or for which they do not recognize the commercial potential.
Please go to the next slide.
Innovation
Invention
The act of creating or developing a new product or process
Innovation
The process of creating a commercial product from an invention
Imitation
The adoption of a similar innovation by different firms
Innovation is a key outcome firms seek through entrepreneurship and is often the source of competitive success, especially in turbulent, highly competitive environments.
Firms engage in three types of innovative activity:
Invention is the act of creating or developing a new product or process.
Innovation is the process of creating a commercial product from an invention. Innovation begins after an invention is chosen for development. Thus, an invention brings something new into being, wh.
This report summarizes a benchmarking project analyzing the status and future of university-based value creation in Finland, Israel, Massachusetts, and Singapore. The key findings across regions were that major universities have adopted an ecosystem approach, where 80-85% of knowledge transfer is created through alumni and students rather than direct research commercialization. Technology transfer offices represent a small percentage of university budgets. High-quality applied research conducted with industry is important. The roles of technology transfer offices are evolving to focus on networking between academia and industry. Proof-of-concept funding, incubators, and business angels are important for supporting startups. The report provides recommendations for Finland including new business development services, competence development programs, and revised funding mechanisms
BUS 499, Week 10 Lecture Strategic EntrepreneurshipSlide #Top.docxRAHUL126667
BUS 499, Week 10 Lecture: Strategic Entrepreneurship
Slide #
Topic
Narration
1
Introduction
Welcome to Senior Seminar in Business Administration.
In this lesson we will discuss Strategic Entrepreneurship.
Please go to the next slide.
2
Objectives
Upon completion of this lesson, you will be able to:
Analyze strategic entrepreneurship and corporate entrepreneurship.
Please go to the next slide.
3
Supporting Topics
In order to achieve this objective, the following supporting topics will be covered:
Entrepreneurship and entrepreneurial opportunities;
Innovation;
Entrepreneurs;
International entrepreneurship;
Internal innovation;
Implementing internal innovation;
Innovation through cooperative strategies;
Innovation through acquisitions; and
Creating value through strategic entrepreneurship.
Please go to the next slide.
4
Entrepreneurship and Entrepreneurial Opportunities
Entrepreneurship is the process by which individuals or groups identify and pursue entrepreneurial opportunities without being immediately constrained by the resources they currently control.
Entrepreneurial opportunities are conditions in which new goods or services can satisfy a need in the market. These opportunities exist because of competitive imperfections in markets and among the factors of production used to produce them or because they were independently developed by entrepreneurs. Entrepreneurial opportunities come in a host of forms such in a new market. Firms should be receptive to pursuing entrepreneurial opportunities whenever and wherever they may surface.
The essence of entrepreneurship is to identify and exploit entrepreneurial opportunities; that is, opportunities others do not see or for which they do not recognize the commercial potential.
Please go to the next slide.
5
Innovation
Innovation is a key outcome firms seek through entrepreneurship and is often the source of competitive success, especially in turbulent, highly competitive environments.
Firms engage in three types of innovative activity:
Invention is the act of creating or developing a new product or process.
Innovation is the process of creating a commercial product from an invention. Innovation begins after an invention is chosen for development. Thus, an invention brings something new into being, while an innovation brings something new into use. Accordingly, technical criteria are used to determine the success of an innovation.
Finally, imitation is the adoption of a similar innovation by different firms. Imitation usually leads to product or process standardization, and products based on imitation often are offered at lower prices, but without as many features. Entrepreneurship is critical to innovative activity in that it acts as the linchpin between invention and innovation.
Please go to the next slide.
6
Check Your Understanding
7
Entrepreneurs
Entrepreneurs are individuals, acting independently or as part of an organization, who see an entrepreneurial opportunity a ...
The document summarizes observations from research on entrepreneurship and recommendations for teaching entrepreneurship. It discusses how entrepreneurship research has grown and changed over the past 20 years, covering various topics including entrepreneurial personality, intentions, cognition, networks and more. It also notes some issues with how entrepreneurship is currently taught, such as focusing too much on past cases rather than practical application. The document calls for entrepreneurship education and research to be better integrated and aligned with the real-world needs of entrepreneurs.
The document discusses start-up companies and their role in job creation. It makes three key points:
1) Start-ups are important for job and economic growth, especially during times of crisis, as they commercialize new technologies and ideas. However, a new entrepreneur does not necessarily create new jobs beyond their own.
2) For start-ups to succeed, they need access to funding beyond traditional loans, as they are high-risk ventures without revenues or profits. They rely on venture capital, business angels, and other specialized funding.
3) Successful start-ups are important for economies as just 1% of high-growth start-ups create 40% of new jobs in a given year.
This document discusses knowledge management as a strategic perspective for gaining competitive advantage. It argues that in today's changing business environment, the only sustainable advantage is the ability to leverage knowledge. The document outlines several frameworks for strategic management, emphasizing a knowledge-based view where competitive advantage comes from intangible assets like knowledge resources and capabilities. It discusses reasons for organizations to focus on knowledge management, including responding to market changes and retaining knowledge as employees turnover. The document also describes various knowledge management initiatives organizations can implement, such as creating knowledge portals and communities of practice, to capture both explicit and tacit knowledge to close strategic knowledge gaps and sustain competitive advantage.
This white paper explores the venture studio model. In doing so, we present the venture studio as a new generative framework central to boosting frontier tech ecosystems. Seen by many as an emerging asset class, venture studios efficiently reframe the dynamics between time to market, resources allocation, and capital structures that frontier tech startups need to become the next unicorns.
This white paper explores the venture studio model. In doing so, we present the venture studio as a new generative framework central to boosting frontier tech ecosystems. Seen by many as an emerging asset class, venture studios efficiently reframe the dynamics between time to market, resources allocation, and capital structures that frontier tech startups need to become the next unicorns.
Strategic entrepreneurship involves taking entrepreneurial actions from a strategic perspective to create new opportunities and competitive advantages. There are two main types of innovation - incremental innovations that build on existing knowledge, and radical innovations that create new knowledge. Internal corporate venturing involves two central processes - autonomous strategic behavior driven by product champions pursuing new ideas, and induced strategic behavior driven by a firm's strategy and structure.
Factors Influencing the Growth of Venture CapitalIntroduct.docxmecklenburgstrelitzh
Factors Influencing the Growth of Venture Capital
Introduction
Many people dream of starting their businesses. There are several reasons why entrepreneurs would be willing to start their businesses. However, many of them get stuck because of a lack of capital since many financial institutions don't lend in the absence of collateral security. Some get lucky enough to get financial support from their savings or families and friends. But for others, there is only one alternative to obtain funds and start their businesses, and that is through venture capital. This is a part of private equity capital that is normally given for new start-ups that promise potential growth in the aim of getting a return on investment. In other words, venture capital investment is generally refers to cash in exchange for a share in the invested business.
Structure of Venture Capital
Venture capitalists (VC) refer to an investment firm or a person making venture investments. Apart from the issuance of capital, venture capitalists (VCs) also play a role in managing the business at an early stage, thus adding expertise skills. Kwak (2019) tells us that because there is a high risk of losing all investment in a given start-up company, most venture capital investments are done a pool format, where investors combine their portfolios into one large fund that invests in different start-ups. By doing this, they spread out risks hence improve their return on investments
According to Wallmeroth, Wirtz & Groh (2018), venture capital is generally used as a tool for economic development in underdeveloped countries. For the past few decades, venture capital has attained substantial growth especially in the developing economies where a considerable increase in economic activities has been observed of late. The main reason for this could be the search for different profitable markets that have gone through economic maturity, given that the developed markets have shown a slight decrease in profitability levels due to trade wars currently at play. Despite venture capital being widely disseminated worldwide, but the activity is mostly concentrated in America. In this paper, I will aim to understand the factors that drive the growth of venture capital.
Motives that drive Venture Capital
The venture capital market contains three elements namely management organization, capitalists, and invested corporations. In simplifying the dynamic market, capitalists invest their investments which are controlled by management organizations, which in turn, buy a stake in investment firms for a specified period (Maula, Autio & Murray, 2010).
· Organization Innovativeness
To clearly illustrate motives for venture capital, it’s essential to analyze the level of growth and development as a result of the effectiveness of measures at the organizational level. Generally, the organizations’ interest in creating venture funds has been largely influenced by the venture capital climate. Most companies gene.
Factors Influencing the Growth of Venture CapitalIntroduct.docxlmelaine
Factors Influencing the Growth of Venture Capital
Introduction
Many people dream of starting their businesses. There are several reasons why entrepreneurs would be willing to start their businesses. However, many of them get stuck because of a lack of capital since many financial institutions don't lend in the absence of collateral security. Some get lucky enough to get financial support from their savings or families and friends. But for others, there is only one alternative to obtain funds and start their businesses, and that is through venture capital. This is a part of private equity capital that is normally given for new start-ups that promise potential growth in the aim of getting a return on investment. In other words, venture capital investment is generally refers to cash in exchange for a share in the invested business.
Structure of Venture Capital
Venture capitalists (VC) refer to an investment firm or a person making venture investments. Apart from the issuance of capital, venture capitalists (VCs) also play a role in managing the business at an early stage, thus adding expertise skills. Kwak (2019) tells us that because there is a high risk of losing all investment in a given start-up company, most venture capital investments are done a pool format, where investors combine their portfolios into one large fund that invests in different start-ups. By doing this, they spread out risks hence improve their return on investments
According to Wallmeroth, Wirtz & Groh (2018), venture capital is generally used as a tool for economic development in underdeveloped countries. For the past few decades, venture capital has attained substantial growth especially in the developing economies where a considerable increase in economic activities has been observed of late. The main reason for this could be the search for different profitable markets that have gone through economic maturity, given that the developed markets have shown a slight decrease in profitability levels due to trade wars currently at play. Despite venture capital being widely disseminated worldwide, but the activity is mostly concentrated in America. In this paper, I will aim to understand the factors that drive the growth of venture capital.
Motives that drive Venture Capital
The venture capital market contains three elements namely management organization, capitalists, and invested corporations. In simplifying the dynamic market, capitalists invest their investments which are controlled by management organizations, which in turn, buy a stake in investment firms for a specified period (Maula, Autio & Murray, 2010).
· Organization Innovativeness
To clearly illustrate motives for venture capital, it’s essential to analyze the level of growth and development as a result of the effectiveness of measures at the organizational level. Generally, the organizations’ interest in creating venture funds has been largely influenced by the venture capital climate. Most companies gene ...
This document outlines Lewis Branscomb's talk on research and innovation systems for commercial innovations. It discusses knowledge sources, intellectual property, firm structures, sources of technical knowledge, relationships between knowledge demand and sources, geographic concentrations of innovations, and the importance of communication and trust networks for innovation.
The document outlines eight steps for organizations to foster innovation through successful ecosystems. It discusses how core business models are often not designed for collaboration and innovation encounters resistance internally. However, innovation at the edges of an organization through partnerships can provide complementary skills and outcomes. The eight steps are to agree on a clear focus for the ecosystem; lead with the customer experience; establish an open culture; encourage proximity to innovation hubs; protect core intellectual property; share risks and rewards; leverage platforms and data; and iterate based on learning. If implemented, these steps can help organizations compete through innovation.
This document discusses strategic entrepreneurship and organizational renewal. It defines key terms like entrepreneurship, innovation, and imitation. It describes different types of innovation and discusses how firms can pursue internal corporate venturing through both autonomous and induced strategic behavior. The document also outlines how cross-functional teams, cooperation, acquisitions, venture capital, and IPOs can help firms create value through innovation.
This document discusses strategic entrepreneurship and organizational renewal. It defines key terms like entrepreneurship, innovation, and imitation. It describes different types of innovation and discusses how firms can pursue internal corporate venturing through both autonomous and induced strategic behavior. The document also outlines how cross-functional teams, cooperation, acquisitions, venture capital, and IPOs can help firms create value through innovation.
The entrepreneurship, in today’s globalized economy, is linked with autonomy, venturing into new business, development of new products, pro-activeness, taking risks, innovation, strategic renewal, self-renewal, and competitive aggressiveness (Zahra and Garvis 1998). In this age of rapid developments in technology and the emerging global markets, the IT company has been able to utilize and develop its resources. The principles of corporate entrepreneurship are followed by prospering through the absorption of the pressures. It is a well known doctrine that the company’s performance is positively impacted by the involvement of corporate entrepreneurship (Wiklund 2009). The implication of this is by practicing entrepreneurship, the organizations would be successful in increasing the results that can be leading to the increase in GDP.
Role of venture capital in the development of Rajasthan: Entrepreneurs perspe...inventionjournals
: Since independence there is significant improvement in the economic and social development of
Rajasthan for which role of venture capitalist is important. in this paper the researcher indented to highlight
the different industrial sector of Rajasthan which got benefited by different venture capitalist . and Also efforts
are made to determine the entrepreneurs perception regarding the role of venture capital for smooth
functioning of newly established companies. The research design used is exploratory in nature. The data is
being collected from the entrepreneurs of Rajasthan, RVCF and other websites, hence this research is based on
primary and secondary data. Correlation is used to determine the relationship between the role of venture
capital and development of Rajasthan . The results of this study would help venture capitalist to modify their
role and policies according to the changing needs of state’s entrepreneurs which will facilitate it’s adoption by
rural.
Key
iMinds insights - Flipped Knowledge Transfer ModeliMindsinsights
Giving digital startups access to vital research capacity.
iMinds insights is a quarterly publication providing you with relevant tech updates based on interviews with academic and industry experts. iMinds is a digital research center and incubator based in Belgium.
The document outlines Kenneth Morse's presentation at the 1st Global Competitiveness Forum on ICT as a driver of innovation and entrepreneurship. The presentation discusses desired outcomes of fostering entrepreneurship in Saudi Arabia through partnerships between government, businesses, and startups. It provides examples of technology adoption rates and opportunities for latecomer startups. Key factors for entrepreneurial success are identified. The presentation concludes with a discussion of trends in corporate venturing and partnerships between large firms and startups to drive productivity.
The document summarizes a study on establishing a Technology Transfer Facility (TTF) by the International Finance Corporation (IFC) and World Bank Group (WBG) to support commercialization of emerging market innovations. Key findings include:
1) Universities in emerging markets have growing research but lack capacity for technology transfer and commercialization.
2) The TTF would provide advisory services, financing, and support to build capacity at research institutions in emerging and developing countries.
3) Pilot programs could test interventions like advisory services, financing vehicles, and monitoring economic impact to strengthen technology transfer globally.
Senior Seminar in Business AdministrationBUS 499 Strategic.docxedgar6wallace88877
Senior Seminar in Business Administration
BUS 499
Strategic Entrepreneurship
Welcome to Senior Seminar in Business Administration.
In this lesson we will discuss Strategic Entrepreneurship.
Please go to the next slide.
Objectives
Upon completion of this lesson, you will be able to:
Analyze strategic entrepreneurship and corporate entrepreneurship.
Upon completion of this lesson, you will be able to:
Analyze strategic entrepreneurship and corporate entrepreneurship.
Please go to the next slide.
Supporting Topics
Entrepreneurship and Entrepreneurial Opportunities
Innovation
Entrepreneurs
International Entrepreneurship
Internal Innovation
Implementing Internal Innovation
Innovation Through Cooperative Strategies
Innovation Through Acquisitions
Creating Value Through Strategic Entrepreneurship
In order to achieve this objective, the following supporting topics will be covered:
Entrepreneurship and entrepreneurial opportunities;
Innovation;
Entrepreneurs;
International entrepreneurship;
Internal innovation;
Implementing internal innovation;
Innovation through cooperative strategies;
Innovation through acquisitions; and
Creating value through strategic entrepreneurship.
Please go to the next slide.
Entrepreneurship and Entrepreneurial Opportunities
Definition
Entrepreneurial Opportunities
Essence of Entrepreneurship
Entrepreneurship is the process by which individuals or groups identify and pursue entrepreneurial opportunities without being immediately constrained by the resources they currently control.
Entrepreneurial opportunities are conditions in which new goods or services can satisfy a need in the market. These opportunities exist because of competitive imperfections in markets and among the factors of production used to produce them or because they were independently developed by entrepreneurs. Entrepreneurial opportunities come in a host of forms such in a new market. Firms should be receptive to pursuing entrepreneurial opportunities whenever and wherever they may surface.
The essence of entrepreneurship is to identify and exploit entrepreneurial opportunities; that is, opportunities others do not see or for which they do not recognize the commercial potential.
Please go to the next slide.
Innovation
Invention
The act of creating or developing a new product or process
Innovation
The process of creating a commercial product from an invention
Imitation
The adoption of a similar innovation by different firms
Innovation is a key outcome firms seek through entrepreneurship and is often the source of competitive success, especially in turbulent, highly competitive environments.
Firms engage in three types of innovative activity:
Invention is the act of creating or developing a new product or process.
Innovation is the process of creating a commercial product from an invention. Innovation begins after an invention is chosen for development. Thus, an invention brings something new into being, wh.
This report summarizes a benchmarking project analyzing the status and future of university-based value creation in Finland, Israel, Massachusetts, and Singapore. The key findings across regions were that major universities have adopted an ecosystem approach, where 80-85% of knowledge transfer is created through alumni and students rather than direct research commercialization. Technology transfer offices represent a small percentage of university budgets. High-quality applied research conducted with industry is important. The roles of technology transfer offices are evolving to focus on networking between academia and industry. Proof-of-concept funding, incubators, and business angels are important for supporting startups. The report provides recommendations for Finland including new business development services, competence development programs, and revised funding mechanisms
BUS 499, Week 10 Lecture Strategic EntrepreneurshipSlide #Top.docxRAHUL126667
BUS 499, Week 10 Lecture: Strategic Entrepreneurship
Slide #
Topic
Narration
1
Introduction
Welcome to Senior Seminar in Business Administration.
In this lesson we will discuss Strategic Entrepreneurship.
Please go to the next slide.
2
Objectives
Upon completion of this lesson, you will be able to:
Analyze strategic entrepreneurship and corporate entrepreneurship.
Please go to the next slide.
3
Supporting Topics
In order to achieve this objective, the following supporting topics will be covered:
Entrepreneurship and entrepreneurial opportunities;
Innovation;
Entrepreneurs;
International entrepreneurship;
Internal innovation;
Implementing internal innovation;
Innovation through cooperative strategies;
Innovation through acquisitions; and
Creating value through strategic entrepreneurship.
Please go to the next slide.
4
Entrepreneurship and Entrepreneurial Opportunities
Entrepreneurship is the process by which individuals or groups identify and pursue entrepreneurial opportunities without being immediately constrained by the resources they currently control.
Entrepreneurial opportunities are conditions in which new goods or services can satisfy a need in the market. These opportunities exist because of competitive imperfections in markets and among the factors of production used to produce them or because they were independently developed by entrepreneurs. Entrepreneurial opportunities come in a host of forms such in a new market. Firms should be receptive to pursuing entrepreneurial opportunities whenever and wherever they may surface.
The essence of entrepreneurship is to identify and exploit entrepreneurial opportunities; that is, opportunities others do not see or for which they do not recognize the commercial potential.
Please go to the next slide.
5
Innovation
Innovation is a key outcome firms seek through entrepreneurship and is often the source of competitive success, especially in turbulent, highly competitive environments.
Firms engage in three types of innovative activity:
Invention is the act of creating or developing a new product or process.
Innovation is the process of creating a commercial product from an invention. Innovation begins after an invention is chosen for development. Thus, an invention brings something new into being, while an innovation brings something new into use. Accordingly, technical criteria are used to determine the success of an innovation.
Finally, imitation is the adoption of a similar innovation by different firms. Imitation usually leads to product or process standardization, and products based on imitation often are offered at lower prices, but without as many features. Entrepreneurship is critical to innovative activity in that it acts as the linchpin between invention and innovation.
Please go to the next slide.
6
Check Your Understanding
7
Entrepreneurs
Entrepreneurs are individuals, acting independently or as part of an organization, who see an entrepreneurial opportunity a ...
The document summarizes observations from research on entrepreneurship and recommendations for teaching entrepreneurship. It discusses how entrepreneurship research has grown and changed over the past 20 years, covering various topics including entrepreneurial personality, intentions, cognition, networks and more. It also notes some issues with how entrepreneurship is currently taught, such as focusing too much on past cases rather than practical application. The document calls for entrepreneurship education and research to be better integrated and aligned with the real-world needs of entrepreneurs.
The document discusses start-up companies and their role in job creation. It makes three key points:
1) Start-ups are important for job and economic growth, especially during times of crisis, as they commercialize new technologies and ideas. However, a new entrepreneur does not necessarily create new jobs beyond their own.
2) For start-ups to succeed, they need access to funding beyond traditional loans, as they are high-risk ventures without revenues or profits. They rely on venture capital, business angels, and other specialized funding.
3) Successful start-ups are important for economies as just 1% of high-growth start-ups create 40% of new jobs in a given year.
This document discusses knowledge management as a strategic perspective for gaining competitive advantage. It argues that in today's changing business environment, the only sustainable advantage is the ability to leverage knowledge. The document outlines several frameworks for strategic management, emphasizing a knowledge-based view where competitive advantage comes from intangible assets like knowledge resources and capabilities. It discusses reasons for organizations to focus on knowledge management, including responding to market changes and retaining knowledge as employees turnover. The document also describes various knowledge management initiatives organizations can implement, such as creating knowledge portals and communities of practice, to capture both explicit and tacit knowledge to close strategic knowledge gaps and sustain competitive advantage.
This white paper explores the venture studio model. In doing so, we present the venture studio as a new generative framework central to boosting frontier tech ecosystems. Seen by many as an emerging asset class, venture studios efficiently reframe the dynamics between time to market, resources allocation, and capital structures that frontier tech startups need to become the next unicorns.
This white paper explores the venture studio model. In doing so, we present the venture studio as a new generative framework central to boosting frontier tech ecosystems. Seen by many as an emerging asset class, venture studios efficiently reframe the dynamics between time to market, resources allocation, and capital structures that frontier tech startups need to become the next unicorns.
Strategic entrepreneurship involves taking entrepreneurial actions from a strategic perspective to create new opportunities and competitive advantages. There are two main types of innovation - incremental innovations that build on existing knowledge, and radical innovations that create new knowledge. Internal corporate venturing involves two central processes - autonomous strategic behavior driven by product champions pursuing new ideas, and induced strategic behavior driven by a firm's strategy and structure.
Factors Influencing the Growth of Venture CapitalIntroduct.docxmecklenburgstrelitzh
Factors Influencing the Growth of Venture Capital
Introduction
Many people dream of starting their businesses. There are several reasons why entrepreneurs would be willing to start their businesses. However, many of them get stuck because of a lack of capital since many financial institutions don't lend in the absence of collateral security. Some get lucky enough to get financial support from their savings or families and friends. But for others, there is only one alternative to obtain funds and start their businesses, and that is through venture capital. This is a part of private equity capital that is normally given for new start-ups that promise potential growth in the aim of getting a return on investment. In other words, venture capital investment is generally refers to cash in exchange for a share in the invested business.
Structure of Venture Capital
Venture capitalists (VC) refer to an investment firm or a person making venture investments. Apart from the issuance of capital, venture capitalists (VCs) also play a role in managing the business at an early stage, thus adding expertise skills. Kwak (2019) tells us that because there is a high risk of losing all investment in a given start-up company, most venture capital investments are done a pool format, where investors combine their portfolios into one large fund that invests in different start-ups. By doing this, they spread out risks hence improve their return on investments
According to Wallmeroth, Wirtz & Groh (2018), venture capital is generally used as a tool for economic development in underdeveloped countries. For the past few decades, venture capital has attained substantial growth especially in the developing economies where a considerable increase in economic activities has been observed of late. The main reason for this could be the search for different profitable markets that have gone through economic maturity, given that the developed markets have shown a slight decrease in profitability levels due to trade wars currently at play. Despite venture capital being widely disseminated worldwide, but the activity is mostly concentrated in America. In this paper, I will aim to understand the factors that drive the growth of venture capital.
Motives that drive Venture Capital
The venture capital market contains three elements namely management organization, capitalists, and invested corporations. In simplifying the dynamic market, capitalists invest their investments which are controlled by management organizations, which in turn, buy a stake in investment firms for a specified period (Maula, Autio & Murray, 2010).
· Organization Innovativeness
To clearly illustrate motives for venture capital, it’s essential to analyze the level of growth and development as a result of the effectiveness of measures at the organizational level. Generally, the organizations’ interest in creating venture funds has been largely influenced by the venture capital climate. Most companies gene.
Factors Influencing the Growth of Venture CapitalIntroduct.docxlmelaine
Factors Influencing the Growth of Venture Capital
Introduction
Many people dream of starting their businesses. There are several reasons why entrepreneurs would be willing to start their businesses. However, many of them get stuck because of a lack of capital since many financial institutions don't lend in the absence of collateral security. Some get lucky enough to get financial support from their savings or families and friends. But for others, there is only one alternative to obtain funds and start their businesses, and that is through venture capital. This is a part of private equity capital that is normally given for new start-ups that promise potential growth in the aim of getting a return on investment. In other words, venture capital investment is generally refers to cash in exchange for a share in the invested business.
Structure of Venture Capital
Venture capitalists (VC) refer to an investment firm or a person making venture investments. Apart from the issuance of capital, venture capitalists (VCs) also play a role in managing the business at an early stage, thus adding expertise skills. Kwak (2019) tells us that because there is a high risk of losing all investment in a given start-up company, most venture capital investments are done a pool format, where investors combine their portfolios into one large fund that invests in different start-ups. By doing this, they spread out risks hence improve their return on investments
According to Wallmeroth, Wirtz & Groh (2018), venture capital is generally used as a tool for economic development in underdeveloped countries. For the past few decades, venture capital has attained substantial growth especially in the developing economies where a considerable increase in economic activities has been observed of late. The main reason for this could be the search for different profitable markets that have gone through economic maturity, given that the developed markets have shown a slight decrease in profitability levels due to trade wars currently at play. Despite venture capital being widely disseminated worldwide, but the activity is mostly concentrated in America. In this paper, I will aim to understand the factors that drive the growth of venture capital.
Motives that drive Venture Capital
The venture capital market contains three elements namely management organization, capitalists, and invested corporations. In simplifying the dynamic market, capitalists invest their investments which are controlled by management organizations, which in turn, buy a stake in investment firms for a specified period (Maula, Autio & Murray, 2010).
· Organization Innovativeness
To clearly illustrate motives for venture capital, it’s essential to analyze the level of growth and development as a result of the effectiveness of measures at the organizational level. Generally, the organizations’ interest in creating venture funds has been largely influenced by the venture capital climate. Most companies gene ...
This document outlines Lewis Branscomb's talk on research and innovation systems for commercial innovations. It discusses knowledge sources, intellectual property, firm structures, sources of technical knowledge, relationships between knowledge demand and sources, geographic concentrations of innovations, and the importance of communication and trust networks for innovation.
The document outlines eight steps for organizations to foster innovation through successful ecosystems. It discusses how core business models are often not designed for collaboration and innovation encounters resistance internally. However, innovation at the edges of an organization through partnerships can provide complementary skills and outcomes. The eight steps are to agree on a clear focus for the ecosystem; lead with the customer experience; establish an open culture; encourage proximity to innovation hubs; protect core intellectual property; share risks and rewards; leverage platforms and data; and iterate based on learning. If implemented, these steps can help organizations compete through innovation.
This document discusses strategic entrepreneurship and organizational renewal. It defines key terms like entrepreneurship, innovation, and imitation. It describes different types of innovation and discusses how firms can pursue internal corporate venturing through both autonomous and induced strategic behavior. The document also outlines how cross-functional teams, cooperation, acquisitions, venture capital, and IPOs can help firms create value through innovation.
This document discusses strategic entrepreneurship and organizational renewal. It defines key terms like entrepreneurship, innovation, and imitation. It describes different types of innovation and discusses how firms can pursue internal corporate venturing through both autonomous and induced strategic behavior. The document also outlines how cross-functional teams, cooperation, acquisitions, venture capital, and IPOs can help firms create value through innovation.
The entrepreneurship, in today’s globalized economy, is linked with autonomy, venturing into new business, development of new products, pro-activeness, taking risks, innovation, strategic renewal, self-renewal, and competitive aggressiveness (Zahra and Garvis 1998). In this age of rapid developments in technology and the emerging global markets, the IT company has been able to utilize and develop its resources. The principles of corporate entrepreneurship are followed by prospering through the absorption of the pressures. It is a well known doctrine that the company’s performance is positively impacted by the involvement of corporate entrepreneurship (Wiklund 2009). The implication of this is by practicing entrepreneurship, the organizations would be successful in increasing the results that can be leading to the increase in GDP.
Role of venture capital in the development of Rajasthan: Entrepreneurs perspe...inventionjournals
: Since independence there is significant improvement in the economic and social development of
Rajasthan for which role of venture capitalist is important. in this paper the researcher indented to highlight
the different industrial sector of Rajasthan which got benefited by different venture capitalist . and Also efforts
are made to determine the entrepreneurs perception regarding the role of venture capital for smooth
functioning of newly established companies. The research design used is exploratory in nature. The data is
being collected from the entrepreneurs of Rajasthan, RVCF and other websites, hence this research is based on
primary and secondary data. Correlation is used to determine the relationship between the role of venture
capital and development of Rajasthan . The results of this study would help venture capitalist to modify their
role and policies according to the changing needs of state’s entrepreneurs which will facilitate it’s adoption by
rural.
Key
iMinds insights - Flipped Knowledge Transfer ModeliMindsinsights
Giving digital startups access to vital research capacity.
iMinds insights is a quarterly publication providing you with relevant tech updates based on interviews with academic and industry experts. iMinds is a digital research center and incubator based in Belgium.
The document outlines Kenneth Morse's presentation at the 1st Global Competitiveness Forum on ICT as a driver of innovation and entrepreneurship. The presentation discusses desired outcomes of fostering entrepreneurship in Saudi Arabia through partnerships between government, businesses, and startups. It provides examples of technology adoption rates and opportunities for latecomer startups. Key factors for entrepreneurial success are identified. The presentation concludes with a discussion of trends in corporate venturing and partnerships between large firms and startups to drive productivity.
Explore the key differences between silicone sponge rubber and foam rubber in this comprehensive presentation. Learn about their unique properties, manufacturing processes, and applications across various industries. Discover how each material performs in terms of temperature resistance, chemical resistance, and cost-effectiveness. Gain insights from real-world case studies and make informed decisions for your projects.
2. Entrepreneurship
A factor of production (alongside land, labor & capital).
It is the process of setting up a business. Entrepreneurs typically create a business plan, hire
labor, acquire resources and financing, and provide leadership and management for the business.
Role of knowledge creation in opportunity identification by entrepreneurs
Entrepreneurs are good at identifying/discovering opportunities.
Opportunities are the result of purposeful investments into the creation of new knowledge
and ideas through expenditures on R&D and augmentation to human capital.
3. Why some individuals and firms are more likely to discover a given opportunity than others?
• Willingness to incur risk.
• Preference for autonomy and self-direction.
• Access to scarce and expensive resources, such as financial capital, human capital, social
capital, and experiential capital.
Knowledge creation is an integral part of entrepreneurship. Organizations do not use all the
knowledge created by their human capital to identify new opportunities. Some individuals see
opportunities within such unused knowledge and use it to create new technologies and new
firms.
4. Knowledge Spillover
The transmission of knowledge to uncover new opportunities that have not yet been seized by
incumbent firms.
Spinoff Companies
They are the companies formed by taking advantage of an incumbent firm’s under-utilized (unused)
knowledge. A spinoff is also defined as the branching off of a division from the parent company with
the aim of specialization.
Ex. Acer’s contract manufacturing division was spun off as Wistron. Ex Acer employees founded ASUS.
Collectively knowledge spillover and spinoffs led to the establishment of an innovative industry
ecosystem.
5. According to the Marshall–Arrow–Romer(MAR) spillover theory, the closeness of enterprises
belonging to a common industry has a significant impact on how well knowledge travels among
them. The greater the MAR spillover, the closer the enterprises are to one another, and therefore
more specialization.
Ex. Science Parks enclosing a unique discipline has fostered the growth and development of
innovative technologies. As several firms with similar degrees of specialization are located at close
quarters, the amount of knowledge spillover is high.
According to Michael Porter, when local economies are competitive, the innovations of local firms
are rapidly adopted and improved by neighbouring firms. This in turn has led to the development of
a series of technologically advanced companies, which collectively form an industry on par with
global standards.
6. Financing Start-ups/New projects
Problems Associated
Even in large firms, technology managers often report that they have more projects that they would
like to undertake than funds to spend on them. Some of the reasons for this problem are as follows.
• Low expected returns due to an inability to capture the profits from an invention
• The uncertainty and risk associated with the project over-optimism on the part of managers
• Any problems associated with financing investments in new technology will be most apparent
for new entrants and startup firms.
Thus, any country should possess a financial assistance ecosystem (capable of withstanding
failures), for start-ups and new projects.
8. Contribution of Public Entities
Public entities contribute to the supply of ideas through the funding of research and
development activities and the performance of research
Universities and government labs are important external partners that provide access to
complementary knowledge that may extend both the exploratory capability as well as the capacity
of the firm to exploit commercial opportunity
Private R&D funding is typically oriented towards activities that will be rewarded by the
market.
In contrast, government funds basic research that asks fundamental questions, without direct
concern about practical applications, and is more experimental and theoretical
Establishment of political and economic stability
9. Contribution of Government
Creating funding sources
Development of quality basic infrastructure
Development of semi- and high-skilled labor
Providing tax and other benefits for entrepreneurs
Ultimate objective of a government should be to increase the ease of doing business
10. Contribution of Universities
Increasing the stock of knowledge
Training skilled graduates
Creating new instrumentation and methodologies
Facilitating the formation of problem-solving networks
Increasing the capacity for problem solving
Creating new firms
11. It is important to promote below 4 factors simultaneously,
1. Supporting technology transfer to the country through FDIs.
2. Start establishing a startup eco-system around the FDIs.
3. Aligning the overall education strategy to support the expansion of the industry.
4. Supporting existing research centers and establishing new ones.
Sri Lankan government focus on 2,3 & 4. However, for them to be fruitful 1 should also happen.
* To succeed as a nation, Sri Lanka should develop an ecosystem conducive for new knowledge
creation and entrepreneurship.