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adownload_doc.php - MIDTERM REVIEW Intrapreneurship...

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MIDTERM REVIEW Intrapreneurship - entrepreneurship within large organizations Gazelle - a business establishment with at least 20% sales growth every year (for five years), starting with a base of at least $100,000. o Gazelles produce twice as many product innovations per employee as do larger firms. o The common myth is that 85% of all firms fail in the first year. o The more accurate statement is that about half of all start-ups last between 5 and 7 years. INTERNET Smaller ventures use the Internet for a variety of operations: o customer-based identification o advertising o consumer sales o business-to-business transactions o e-mail o private internal networks for employees. o Stickiness – how long a website can keep someone looking at it #1 use is for company information EVOLUTION OF ENTREPRENEURSHIP Entreprendre – French for to undertake: where entrepreneurship is derived from. The Corridor Principle - With every venture launched, new and unintended opportunities often arise. (Post it notes) Entrepreneurial Schools-of-Thought Approach The Macro View ( External locus of control ) o The Environmental School of Thought o The Financial/Capital School of Thought o The Displacement School of Thought 1. Political Displacement 2. Cultural Displacement 3. Economic Displacement The Micro View ( Internal locus of control ) o The Entrepreneurial Trait School of Thought o The Venture Opportunity School of Thought o The Strategic Formulation School of Thought
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Strategic Formulation as a Leveraging of Unique Elements - Unique Markets : mountain gap strategies - Unique People : great chef strategies - Unique Products : better widget strategies - Unique Resources : water well strategies Process Approaches - “Integrative” Approach - - Entrepreneurial Assessment Approach - - Multidimensional Approach - 3M’s Innovation Rules o Don’t kill a project o Tolerate failure o Keep divisions small o Motivate the champions o Stay close to the customer o Share the wealth Corporate Entrepreneurship Assessment Instrument (CEAI) (measured key entrepreneurial climate factors) o Management Support o Autonomy/Work Discretion o Rewards/Reinforcement o Time Availability o Organizational Boundary Venture Team - composed of two or more people who formally create and share the ownership of a new organization. o The leader is called a “product champion” or an “intrapreneur”.
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