Entrepreneurship_ Topic 3 Assignment.docx - 1 In your own...

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1. In your own words, what is corporate entrepreneurship? - Corporate entrepreneurship can be seen as a company founder with a new concept or plan to create or increase the benefit of the company, regardless of whether the company is mature or brand new. The designers should follow the latest concept and plan and insist on it. Of course, suitable modifications are needed. 2. What are two reasons that such a strong desire to develop corporate entrepreneurs has arisen in recent years? - Rapid growth in new and sophisticated competitors, and a sense of distrust in the traditional methods of corporate management. 3. What are some of the corporate obstacles that must be overcome to establish a corporate entrepreneurial environment? - Enforcement standard procedures to avoid mistakes, manage resources for efficiency and ROI, and control against plan. 4. What are some of the innovative principles identified by James Brian Quinn that companies need to establish? - James Brian Quinn believes that a good company should have these innovation principles: 1. Ability of improving the quality of information utilized in corporate strategic decisions. 2. Ability of dealing with different data which could affect the decision made. 3. Ability of handling the resistance from different areas, no matter it is from person or regulation. 4. Ability of forecasting of the needs in the market and building awareness. 5. Ability of improving and adjusting the quality of strategic decisions. 5. A number of corporations today are working to reengineer corporate thinking and encourage an innovative environment. What types of steps would you recommend? Offer at least three, and explain each. - They should first start by developing a vision. The company should know exactly what they will do with their business and how everything will be handled. The next step that should be taken is to encourage innovation. The company should give the employees a reason to care by giving them an incentive to work. Lastly, another step that should be

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