Chapter 2. The Unique Nature of Corporate Entrepreneurship. Question 1: What are the six (6) steps of the entrepreneurial process?. Entrepreneurial Realities: Understanding the Process. This process consists of six stages: Identifying the opportunity Defining the business concept
The Unique Nature of Corporate Entrepreneurship
The Entrepreneurial Context is never defined, thus,entrepreneurship can occur in:
How Corporate Entrepreneurship Differs
“Entrepreneurship is the process of creating value by bringing together a unique combination of resources to exploit an opportunity.”
Question 6: What are some of the similarities between traditional start-up entrepreneurs and corporate entrepreneurs? What are some of the differences?
Question 7: How might these differences help or hinder corporate entrepreneurship? In other words, what differences make CE easier or harder for entrepreneurial managers?
Corporate entrepreneurs face three major challenges linked to the need for interorganizational political skills:
Question 9: What are the three (3) main reasons successful corporate innovators continue to work for established businesses as opposed to starting their own venture? How can that help managers identify ways to keep entrepreneurial employees and encourage entrepreneurial attitudes and behaviors?
Corporate entrepreneurs remain in the corporate environment rather than starting their own ventures for three main reasons:
To cultivate an environment of entrepreneurship within an organization, managers must:
Question 11: According to the Guth and Ginsburg (1990) model, what two types of processes are within the domain of corporate entrepreneurship? What are the four (4) factors that drive their activity and performance?
Fitting Corporate Entrepreneurship Into Strategic Management
CONDUCT / FORM
Innovation / Venturing
Source: William D. Guth and Ari Ginsberg, “Corporate Entrepreneurship,” Strategic Management Journal 11 (Summer 1990): 5-15.
Resources (i.e. time availability)
Supportive Organizational Structure
(Firm Comparison)General Frameworks for Understanding Corporate Entrepreneurship
A Model of Sustained Corporate Entrepreneurship
Question 12: What are the three (3) main drivers of corporate entrepreneurship activity according to Ireland, Covin, and Kuratko (2009)? And FYI, Duane Ireland is a proud TTU alumni!