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Corporate Entrepreneurship PowerPoint PPT Presentation


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Defining Entrepreneurship. Corporate Entrepreneurship. Firm’s capabilities possessed to develop new goods or services and manage the innovation process. Invention. Creating or developing a new product or process idea. Innovation. Creating a commercializable product from invention.

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Corporate Entrepreneurship

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Defining Entrepreneurship

Corporate Entrepreneurship

Firm’s capabilities possessed to develop new goods or services and manage the innovation process

Invention

Creating or developing a new product or process idea

Innovation

Creating a commercializable product from invention

Imitation

Adoption of innovation by a population of similar firms


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Successful Entrepreneurship

The key to success with entrepreneurship and innovation is moving from the invention of ideas to effective commercialization and acceptance in the marketplace


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Innovation and Competitive Advantage

Characteristics of Innovations which lead to...

Competitive Advantage


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Innovation and Competitive Advantage

Commercially

Exploitable

with Present Capabilities

Difficult for

Competitors to Imitate

Competitive Advantage

Provides Significant Value to Customers

Timely


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Appropriating Value from Innovation

The goal or end point is developing a system which allows the firm to extract value effectively from their internal innovative capabilities

Value Appropriation from Innovation


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Appropriating Value from Innovation

Cross-Functional Integration/

Design Teams

Value Appropriation from Innovation

Cross-functional design teams can help to break down barriers to entrepreneurship within firms


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Appropriating Value from Innovation

Barriers to Integration

Different Time Orientation

Interpersonal Orientation

Cross-Functional Integration/

Design Teams

Different Goal Orientation

Value Appropriation from Innovation

Formality of Structure

These factors tend to reduce the effectiveness of Cross-functional integration or design teams


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Appropriating Value from Innovation

Barriers to Integration

Different Time

Orientation

Interpersonal

Orientation

Cross-Functional Integration/

Design Teams

Different Goal

Value Appropriation from Innovation

Orientation

Formality of

Structure

Facilitators of Integration

These factors tend to increase the effective-ness of Cross-functional integration or design teams

Shared Values

Leaders’ Vision

Budget allocation

Effective Communication


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Appropriating Value from Innovation

Barriers to Integration

Different Time

Time to Market

Orientation

Interpersonal

Orientation

Cross-Functional Integration/

Design Teams

Different Goal

Value Appropriation from Innovation

Orientation

Product Quality

Formality of

Structure

Facilitators of Integration

Creation of Customer Value

Shared Values

Leaders’ Vision

Budget Allocation

Effective

Communication


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Appropriating Value from Innovation

Barriers to Integration

Different Time

Time to Market

Orientation

Interpersonal

Orientation

Cross-Functional Integration/

Design Teams

Different Goal

Value Appropriation from Innovation

Orientation

Product Quality

Formality of

Structure

Facilitators of Integration

Creation of Customer Value

Shared Values

Leaders’ Vision

Budget Allocation

Effective

Communication


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Cooperating to Produce Innovation

Strategic Alliances

Alliances can help to foster innovation by combining the knowledge and resources of two or more partners

Firms must focus on building knowledge, identifying core competencies and developing strong human resources to manage these projects

Firms can also give away their core competencies by outsourcing to alliance partners rather than developing their own capabilities over time


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Acquiring Innovative Capability

Many firms now use acquisitions of other firms as a substitute for developing innovations internally

This can reduce risk and lower costly R&D investments

The drawback is that firms can eventually lose their ability to generate innovations internally

Many firms now use acquisitions of other firms as a substitute for developing innovations internally


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Small Firms and Innovation

Small firms have created most of the new jobs in the U.S. in the 1990s

While large firms account for over 80% of the world’s R&D spending, individuals or small firms are granted more than half of U.S. patents

Many small firms are created when employees leave large firms to start their own businesses, frequently continuing to interact with their former firms to develop innovations and new products


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