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50 Shades of Entrepreneurship

50 Shades of Entrepreneurship. Corporate Entrepreneur: Google. Causes for Interest in Corporate Entrepreneurship. Corporate entrepreneurship Entrepreneurial action within an established organization Capitalizes on individuals who can do things differently and better Causes for interest

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50 Shades of Entrepreneurship

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  1. 50 Shades of Entrepreneurship

  2. Corporate Entrepreneur: Google

  3. Causes for Interest in Corporate Entrepreneurship • Corporate entrepreneurship • Entrepreneurial action within an established organization • Capitalizes on individuals who can do things differently and better • Causes for interest • Desire for responsibility • Strong need for individual expression and freedom • Discontent within the structured organization

  4. Problems and Successful Efforts • Compared to new ventures started within a corporation, independent start-ups: • Perform better • End up twice as profitable • Reasons cited • Corporation’s difficulty in maintaining a long-term commitment • Lack of freedom to make autonomous decisions • Constrained environment

  5. Table 2.1- Distinguishing Entrepreneurially from Traditionally Managed Firm

  6. Managerial Versus Entrepreneurial Decision Making • Strategic (managerial) orientation • Focuses on factorsthat are inputs in formulation of the firm’sstrategy

  7. Managerial Versus Entrepreneurial Decision Making • Entrepreneurial orientation • Toward opportunity: Commitment to take action on potential opportunities • Toward commitment of resources: Minimizes resources that would be required in pursuing a particular opportunity • Toward control of resources: Focuses on how to access others’ resources

  8. Managerial Versus Entrepreneurial Decision Making • Toward management structure: More organic focus has few layers of bureaucracy between top management and the customer • Toward rewards: Compensation is based on generation and exploitation of opportunity • Toward growth • Toward culture: Encourages employees to generate ideas, and engage in tasks that might produce opportunities

  9. Table 2.3 - Characteristics of an Entrepreneurial Environment

  10. Table 2.4 - Leadership Characteristics of a Corporate Entrepreneur

  11. Establishing Corporate Entrepreneurship in the Organization • Step one • Secure a commitment from top, upper, and middle management levels • Identify, select, and train corporate entrepreneurs • Step two • Identify ideas and areas that interest top management • Identify amount of risk money available • Establish overall program expectations and target results • Establish time frame, volume, and profitability requirement • Establish mentor/sponsor system

  12. Establishing Corporate Entrepreneurship in the Organization • Step three • Use of technology to ensure organizational flexibility • Step four • Identify interested managers to train employees • Step five • Develop ways to get closer to the customers

  13. Establishing Corporate Entrepreneurship in the Organization • Step six • Learn to be more productive with fewer resources • Step seven • Establish a strong support structure for corporate entrepreneurship • Step eight • Tie rewards to the performance of the entrepreneurial unit

  14. Afraid of Failure?

  15. Learning from Failures • Dual process model of coping with negative emotions suggests an oscillation between: • Loss orientation • Working through and processing some aspect of the loss experience • Breaking emotional bonds to the object loss • Restoration orientation • Both avoidance and proactiveness toward secondary sources of stress arising from a major loss

  16. Sustainable Entrepreneurship • Preserving nature, life support, and community in the pursuit of perceived opportunities to: • Bring future products, processes, and services into existence for gain • Can generate: • Economic gains • Environmental gains • Social gains

  17. Sustainable Entrepreneur: NURU

  18. International Entrepreneurship • Requires dealing with differences in: • Levels of economic development • Currency evaluations • Government regulations • Banking, venture capital, marketing and distribution system

  19. International Entrepreneur: Donut Plant

  20. In-Class Exercise • Task: In your past/current job, if your boss gave you complete power, what would you change to encourage entrepreneurship? • Guidelines: • Team A&B, C, D, E&1/2F, 1/2F, G, H, J&L, M, O&P, R&T, S, W • Take only 1 characteristics of an ENT environment • Pick 1 company • Layout steps (all 8 if you could) to establish ENT in that company • Turn in your written report

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