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.

1. Strategic Entrepreneurship Chapter Fourteen © 2006 by Nelson, a division of Thomson Canada Limited.

2. The Strategic Management Process Chapter 8: Acquisition & Restructuring Chapter 9: International Strategy Chapter 10: Cooperative Strategy Strategy Formulation Chapter 11: Corporate Governance Ch. 12: Org. Structure & Controls Chapter 13: Strategic Leadership Chapter 14: Org. Renewal & Innovation Strategy Implementation Strategic  Actions  Chapter 3: The External Environment Strategic Competitiveness Strategic Mission & Strategic Intent Strategic Objectives & Inputs Chapter 1: Strategic Management Ch. 2: Strat. Mgmt . & Performance Chapter 3: The External Environment Chapter 3: The External Environment Chapter 4: The Internal Environment Chapter 5: Bus.-Level Strategy Chapter 6: Competitive Dynamics Chapter 7: Corp.-Level Strategy Chapter 14: Org. Renewal & Innovation Strategic Competitiveness

4. Defining Entrepreneurship An individual or a group in an organization creates a new venture or develops an innovation Corporate Entrepreneurship Creating or developing a new product or process Invention Creating a commercial product from an invention Innovation Adoption of innovation by a population of similar firms Imitation Entrepreneurial actions based on a strategic perspective Strategic Entrepreneurship

5. Successful Entrepreneurship The key to success with entrepreneurship and innovation is moving from: the invention of ideas to effective commercialization & acceptance in the marketplace

11. Model of Internal Corporate Venturing or as a top-down process a bottom-up process Structural Context Induced Strategic Behaviour Autonomous Strategic Behaviour Strategic Context Corporate Headquarters Corp. Entrepreneurship can occur as either a

18. Barriers to Integration Different functional time orientation Different functional language and interpersonal orientation Different goal orientation Formality of structure Long time line : R&D Different functional time orientation Short time line : Production Qualitative: HRM Different functional language and interpersonal orientation Quantitative: Accounting Customer satisfaction: Sales Different goal orientation Cost reduction: Production Informal: R&D Formality of structure Formal: Manufacturing

19. Appropriating Value From Innovation Cross-Functional Integration/ Design Teams Cross-functional design teams can help to break down barriers to entrepreneurship within firms Barriers to Integration Different Time Interpersonal Different Goal Formality of Orientation Orientation Orientation Structure Facilitators of Integration Facilitators of Integration tend to increase the effectiveness of Cross-functional integration or design teams Value Appropriation from Innovation Shared Values Leaders’ Vision Effective Budget Allocation Communication

20. Creating Value through Internal Innovation Process Entrepreneurial mind set Cross-functional product development teams Creating value through innovation Facilitating integration and innovation • Shared values • Entrepreneurial leadership

21. Appropriating Value from Innovation Facilitators & Teams help the firm improve Product Quality Customer Value Time to Market Value Appropriation from Innovation Barriers to Integration Different Time Interpersonal Different Goal Formality of Orientation Orientation Orientation Structure Facilitators of Integration Shared Values Leaders’ Vision Effective Budget Allocation Communication Cross-Functional Integration/ Design Teams

27. The Strategic Management Process Chapter 8: Acquisition & Restructuring Chapter 9: International Strategy Chapter 10: Cooperative Strategy Strategy Formulation Chapter 11: Corporate Governance Ch. 12: Org. Structure & Controls Chapter 13: Strategic Leadership Chapter 14: Org. Renewal & Innovation Strategy Implementation Strategic  Actions  Chapter 3: The External Environment Strategic Competitiveness Strategic Mission & Strategic Intent Strategic Objectives & Inputs Chapter 1: Strategic Management Ch. 2: Strat. Mgmt . & Performance Chapter 3: The External Environment Chapter 3: The External Environment Chapter 4: The Internal Environment Chapter 5: Bus.-Level Strategy Chapter 6: Competitive Dynamics Chapter 7: Corp.-Level Strategy Chapter 14: Org. Renewal & Innovation Strategic Competitiveness

28. T hat’s the Whole Enchilada Hitt, Ireland, Hoskisson, Rowe, and Sheppard Strategic Management: Competitiveness & Globalization