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
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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
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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
