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Chapter : 02 The Entrepreneurial And Intrapreneurial Mind. THE ENTREPRENEURIAL PROCESS. The Entrepreneurial Process involves finding, evaluating, and developing an opportunity by overcoming the strong forces that resist the creation of something new.
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Chapter : 02The Entrepreneurial And Intrapreneurial Mind www.AssignmentPoint.com
THE ENTREPRENEURIAL PROCESS The Entrepreneurial Process involves finding, evaluating, and developing an opportunity by overcoming the strong forces that resist the creation of something new. www.AssignmentPoint.com
Phases of Entrepreneurial Process www.AssignmentPoint.com
The Entrepreneurial Process has 4 distinct phases 1. Identification and evaluation of the opportunity 2. Development of the business plan 3. Determination of the required resources 4. Management of the resulting enterprise www.AssignmentPoint.com
Identify And Evaluate The Opportunity www.AssignmentPoint.com
Opportunity Analysis: Assessing the Opportunity • What market need does it fill? • What personal observations have you made? • What are the underlying social conditions? • Examine the market research data. • Assess competition. Any patents? • Where is the money to be made? www.AssignmentPoint.com
Opportunity Identification www.AssignmentPoint.com
Window for Opportunity www.AssignmentPoint.com
2. Develop a business plan www.AssignmentPoint.com
3. Determine The Resources Required www.AssignmentPoint.com
4. Management Of The Resulting Enterprise www.AssignmentPoint.com
Management versus entrepreneurial decision making www.AssignmentPoint.com
Difference Can Be Viewed By Five Key Business Dimensions • Strategic Orientation • Commitment to Opportunity • Commitment of Resources • Control of Resources • Management Structure www.AssignmentPoint.com
Causes of Interest in Intrapreneurship www.AssignmentPoint.com
Corporate versus Intrapreneurial Culture www.AssignmentPoint.com
Corporate vs. IntrapreneurialOrganizational Culture develop visions, goals and plans. suggest, try and experiment. flat organizational structure with networking and teamwork. • climate & reward system favors conservative decision making. • follow instructions, don’t take initiative. • hierarchical lines of authority. www.AssignmentPoint.com
Corporate Culture www.AssignmentPoint.com
Intrapreneurial Culture www.AssignmentPoint.com
“Intrapreneurship” is entrepreneurship within an existing business structure. The process begins by establishing an an intrapreneurial culture. This refers to instilling the entrepreneurial spirit in an existing organization in order to innovate and grow. www.AssignmentPoint.com
INTRAPRENEURIAL LEADERSHIP CHARACTERISTICS www.AssignmentPoint.com
Characteristics of an Intrapreneur • Often operates on the frontiers of technology so understands multiple aspects of the environment. • Has a vision. • Possesses flexibility, problem solving skills and uses a multi-disciplinary approach. • Encourages open discussion and teamwork. • Builds a coalition of supporters. www.AssignmentPoint.com
ESTABLISHING INTRAPRENEURSHIP IN THE ORGANIAZATION www.AssignmentPoint.com
To establish intrapreneurship in an organization: • Secure commitment by top, upper and middle management. • Identify ideas and general interest areas. • Use technology for greater flexibility. • Use a group of interested managers. • Get close to the customers. www.AssignmentPoint.com