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Corporateentrepreneurship 131023081702-phpapp01

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Fida Waxir
Fida Waxir

Corporate entrepreneurship involves activities that receive organizational support and resources to drive innovation. It can take the form of new ventures within existing organizations or renewing and innovating current operations. There is a need for corporate entrepreneurship due to increased competition, changing markets, and retaining top talent. It involves processes like innovation, strategic renewal, and corporate venturing. Innovation can be radical or incremental. Developing an innovative culture, encouraging risk-taking and failure, and rewarding innovation are important. Strategies must align vision and actions across the organization. Corporate venturing institutionalizes growth through new products and technologies. Developing managers' skills and preparing for failures are also part of successful corporate entrepreneurship.

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Corporate Entrepreneurship
The Nature of CorporateThe Nature of Corporate EntrepreneurshipEntrepreneurship Defining The ConceptDefining The Concept Corporate EntrepreneurshipCorporate Entrepreneurship Activities that receive organizational sanction andActivities that receive organizational sanction and resource commitments for the purpose ofresource commitments for the purpose of innovative results.innovative results. A process whereby an individual or a group of individuals, inA process whereby an individual or a group of individuals, in association with an existing organization, creates a newassociation with an existing organization, creates a new organization or instigates renewal or innovation within theorganization or instigates renewal or innovation within the organization.organization. A process that can facilitate firms efforts to innovate constantlyA process that can facilitate firms efforts to innovate constantly and cope effectively with the competitive realities thatand cope effectively with the competitive realities that companies encounter when competing in international markets.companies encounter when competing in international markets.
The Need for CorporateThe Need for Corporate EntrepreneuringEntrepreneuring Rapid growth in the number of new and sophisticatedRapid growth in the number of new and sophisticated competitorscompetitors Sense of distrust in the traditional methods of corporateSense of distrust in the traditional methods of corporate managementmanagement An exodus (leaving the organization) of some of the bestAn exodus (leaving the organization) of some of the best and brightest people from corporations to become smalland brightest people from corporations to become small business entrepreneursbusiness entrepreneurs International competitionInternational competition Downsizing of major corporationsDownsizing of major corporations An overall desire to improve efficiency and productivityAn overall desire to improve efficiency and productivity
The CorporateThe Corporate Entrepreneurship ProcessEntrepreneurship Process Corporate Entrepreneurship Corporate Entrepreneurship Corporate Venturing Corporate VenturingInnovationInnovationStrategic Renewal Strategic Renewal
INNOVATION
Types of InnovationTypes of Innovation Radical InnovationRadical Innovation The launching of inaugural breakthroughs.The launching of inaugural breakthroughs. These innovations take experimentation andThese innovations take experimentation and determined vision, which are not necessarilydetermined vision, which are not necessarily managed but must be recognized and nurtured.managed but must be recognized and nurtured. Incremental InnovationIncremental Innovation The systematic evolution of a product or service intoThe systematic evolution of a product or service into newer or larger markets.newer or larger markets. Many times the incremental innovation will take overMany times the incremental innovation will take over after a radical innovation introduces a breakthrough.after a radical innovation introduces a breakthrough.
Rules for an Innovative Environment 1.1. Encourage action.Encourage action. 2.2. Use informal meetings whenever possible.Use informal meetings whenever possible. 3.3. Tolerate failure and use it as a learning experience.Tolerate failure and use it as a learning experience. 4.4. Persist in getting an idea to market.Persist in getting an idea to market. 5.5. Reward innovation for innovations sake.Reward innovation for innovations sake. 6.6. Plan the physical layout of the enterprise to encourage informalPlan the physical layout of the enterprise to encourage informal communication.communication. 7.7. Expect cleverExpect clever bootlegging (sale)bootlegging (sale) of ideassecretly working onof ideassecretly working on new ideas on company time as well as personal time.new ideas on company time as well as personal time. 8.8. Put people on small teams for future-oriented projects.Put people on small teams for future-oriented projects. 9.9. Encourage personnel to circumvent rigid procedures andEncourage personnel to circumvent rigid procedures and bureaucratic red tape.bureaucratic red tape. 10.10. Reward and promote innovative personnel.Reward and promote innovative personnel.
STRATEGY
Conceptualizing CorporateConceptualizing Corporate Entrepreneurship StrategyEntrepreneurship Strategy Corporate Entrepreneurship StrategyCorporate Entrepreneurship Strategy A vision-directed, organization-wide reliance onA vision-directed, organization-wide reliance on entrepreneurial behavior that purposefully andentrepreneurial behavior that purposefully and continuously rejuvenates/revives the organization andcontinuously rejuvenates/revives the organization and shapes the scope of its operations through theshapes the scope of its operations through the recognition and exploitation of entrepreneurialrecognition and exploitation of entrepreneurial opportunity.opportunity. It requires the creation of congruence between theIt requires the creation of congruence between the entrepreneurial vision of the organizations leadersentrepreneurial vision of the organizations leaders and the entrepreneurial actions of those throughoutand the entrepreneurial actions of those throughout the organizationthe organization..
Critical steps of a corporateCritical steps of a corporate entrepreneurial strategyentrepreneurial strategy Developing the visionDeveloping the vision Encouraging innovationEncouraging innovation Structuring for an entrepreneurial climateStructuring for an entrepreneurial climate Developing individual managers for corporateDeveloping individual managers for corporate entrepreneurshipentrepreneurship Developing venture teams.Developing venture teams.
Corporateentrepreneurship 131023081702-phpapp01
CORPORATE VENTURING
Reestablishing the drive to innovate:Reestablishing the drive to innovate: Invest heavily inInvest heavily in entrepreneurial activitiesentrepreneurial activities that allow new ideas tothat allow new ideas to flourish in an innovative environment.flourish in an innovative environment. Provide nurturing and information-sharing activities.Provide nurturing and information-sharing activities. Employee perception of an innovative environment is critical.Employee perception of an innovative environment is critical. Corporate VenturingCorporate Venturing Institutionalizing the process of embracing the goal of growthInstitutionalizing the process of embracing the goal of growth through development of innovative products, processes, andthrough development of innovative products, processes, and technologies with an emphasis on long-term prosperity.technologies with an emphasis on long-term prosperity. CORPORATE VENTURING
Developing Individual ManagersDeveloping Individual Managers for Corporate Entrepreneurshipfor Corporate Entrepreneurship 1.1. The Breakthrough ExperienceThe Breakthrough Experience 2.2. Breakthrough ThinkingBreakthrough Thinking 3.3. Idea Acceleration ProcessIdea Acceleration Process 4.4. Barriers and Facilitators to Innovative ThinkingBarriers and Facilitators to Innovative Thinking 5.5. Sustaining Breakthrough TeamsSustaining Breakthrough Teams 6.6. The Breakthrough PlanThe Breakthrough Plan
Preparing for FailurePreparing for Failure Learning from FailureLearning from Failure Recognizing the importance of managing the griefRecognizing the importance of managing the grief process that occurs from project failure.process that occurs from project failure. Understanding how organizational routines and ritualsUnderstanding how organizational routines and rituals are likely to influence the grief recovery.are likely to influence the grief recovery. Ensuring that the organizations social support systemEnsuring that the organizations social support system can encourage greater learning, foster motivationalcan encourage greater learning, foster motivational outcomes, and increase coping self-efficacy inoutcomes, and increase coping self-efficacy in affected individuals.affected individuals.
SUCCESSFUL CORPORATE ENTREPRENEURSHIP Think big . . . really big. Bring in the A-team. Start small. Establish unique measurement techniques.
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Corporateentrepreneurship 131023081702-phpapp01

  • 2. The Nature of CorporateThe Nature of Corporate EntrepreneurshipEntrepreneurship Defining The ConceptDefining The Concept Corporate EntrepreneurshipCorporate Entrepreneurship Activities that receive organizational sanction andActivities that receive organizational sanction and resource commitments for the purpose ofresource commitments for the purpose of innovative results.innovative results. A process whereby an individual or a group of individuals, inA process whereby an individual or a group of individuals, in association with an existing organization, creates a newassociation with an existing organization, creates a new organization or instigates renewal or innovation within theorganization or instigates renewal or innovation within the organization.organization. A process that can facilitate firms efforts to innovate constantlyA process that can facilitate firms efforts to innovate constantly and cope effectively with the competitive realities thatand cope effectively with the competitive realities that companies encounter when competing in international markets.companies encounter when competing in international markets.
  • 3. The Need for CorporateThe Need for Corporate EntrepreneuringEntrepreneuring Rapid growth in the number of new and sophisticatedRapid growth in the number of new and sophisticated competitorscompetitors Sense of distrust in the traditional methods of corporateSense of distrust in the traditional methods of corporate managementmanagement An exodus (leaving the organization) of some of the bestAn exodus (leaving the organization) of some of the best and brightest people from corporations to become smalland brightest people from corporations to become small business entrepreneursbusiness entrepreneurs International competitionInternational competition Downsizing of major corporationsDownsizing of major corporations An overall desire to improve efficiency and productivityAn overall desire to improve efficiency and productivity
  • 4. The CorporateThe Corporate Entrepreneurship ProcessEntrepreneurship Process Corporate Entrepreneurship Corporate Entrepreneurship Corporate Venturing Corporate VenturingInnovationInnovationStrategic Renewal Strategic Renewal
  • 6. Types of InnovationTypes of Innovation Radical InnovationRadical Innovation The launching of inaugural breakthroughs.The launching of inaugural breakthroughs. These innovations take experimentation andThese innovations take experimentation and determined vision, which are not necessarilydetermined vision, which are not necessarily managed but must be recognized and nurtured.managed but must be recognized and nurtured. Incremental InnovationIncremental Innovation The systematic evolution of a product or service intoThe systematic evolution of a product or service into newer or larger markets.newer or larger markets. Many times the incremental innovation will take overMany times the incremental innovation will take over after a radical innovation introduces a breakthrough.after a radical innovation introduces a breakthrough.
  • 7. Rules for an Innovative Environment 1.1. Encourage action.Encourage action. 2.2. Use informal meetings whenever possible.Use informal meetings whenever possible. 3.3. Tolerate failure and use it as a learning experience.Tolerate failure and use it as a learning experience. 4.4. Persist in getting an idea to market.Persist in getting an idea to market. 5.5. Reward innovation for innovations sake.Reward innovation for innovations sake. 6.6. Plan the physical layout of the enterprise to encourage informalPlan the physical layout of the enterprise to encourage informal communication.communication. 7.7. Expect cleverExpect clever bootlegging (sale)bootlegging (sale) of ideassecretly working onof ideassecretly working on new ideas on company time as well as personal time.new ideas on company time as well as personal time. 8.8. Put people on small teams for future-oriented projects.Put people on small teams for future-oriented projects. 9.9. Encourage personnel to circumvent rigid procedures andEncourage personnel to circumvent rigid procedures and bureaucratic red tape.bureaucratic red tape. 10.10. Reward and promote innovative personnel.Reward and promote innovative personnel.
  • 9. Conceptualizing CorporateConceptualizing Corporate Entrepreneurship StrategyEntrepreneurship Strategy Corporate Entrepreneurship StrategyCorporate Entrepreneurship Strategy A vision-directed, organization-wide reliance onA vision-directed, organization-wide reliance on entrepreneurial behavior that purposefully andentrepreneurial behavior that purposefully and continuously rejuvenates/revives the organization andcontinuously rejuvenates/revives the organization and shapes the scope of its operations through theshapes the scope of its operations through the recognition and exploitation of entrepreneurialrecognition and exploitation of entrepreneurial opportunity.opportunity. It requires the creation of congruence between theIt requires the creation of congruence between the entrepreneurial vision of the organizations leadersentrepreneurial vision of the organizations leaders and the entrepreneurial actions of those throughoutand the entrepreneurial actions of those throughout the organizationthe organization..
  • 10. Critical steps of a corporateCritical steps of a corporate entrepreneurial strategyentrepreneurial strategy Developing the visionDeveloping the vision Encouraging innovationEncouraging innovation Structuring for an entrepreneurial climateStructuring for an entrepreneurial climate Developing individual managers for corporateDeveloping individual managers for corporate entrepreneurshipentrepreneurship Developing venture teams.Developing venture teams.
  • 13. Reestablishing the drive to innovate:Reestablishing the drive to innovate: Invest heavily inInvest heavily in entrepreneurial activitiesentrepreneurial activities that allow new ideas tothat allow new ideas to flourish in an innovative environment.flourish in an innovative environment. Provide nurturing and information-sharing activities.Provide nurturing and information-sharing activities. Employee perception of an innovative environment is critical.Employee perception of an innovative environment is critical. Corporate VenturingCorporate Venturing Institutionalizing the process of embracing the goal of growthInstitutionalizing the process of embracing the goal of growth through development of innovative products, processes, andthrough development of innovative products, processes, and technologies with an emphasis on long-term prosperity.technologies with an emphasis on long-term prosperity. CORPORATE VENTURING
  • 14. Developing Individual ManagersDeveloping Individual Managers for Corporate Entrepreneurshipfor Corporate Entrepreneurship 1.1. The Breakthrough ExperienceThe Breakthrough Experience 2.2. Breakthrough ThinkingBreakthrough Thinking 3.3. Idea Acceleration ProcessIdea Acceleration Process 4.4. Barriers and Facilitators to Innovative ThinkingBarriers and Facilitators to Innovative Thinking 5.5. Sustaining Breakthrough TeamsSustaining Breakthrough Teams 6.6. The Breakthrough PlanThe Breakthrough Plan
  • 15. Preparing for FailurePreparing for Failure Learning from FailureLearning from Failure Recognizing the importance of managing the griefRecognizing the importance of managing the grief process that occurs from project failure.process that occurs from project failure. Understanding how organizational routines and ritualsUnderstanding how organizational routines and rituals are likely to influence the grief recovery.are likely to influence the grief recovery. Ensuring that the organizations social support systemEnsuring that the organizations social support system can encourage greater learning, foster motivationalcan encourage greater learning, foster motivational outcomes, and increase coping self-efficacy inoutcomes, and increase coping self-efficacy in affected individuals.affected individuals.
  • 16. SUCCESSFUL CORPORATE ENTREPRENEURSHIP Think big . . . really big. Bring in the A-team. Start small. Establish unique measurement techniques.