12 radical innovation the inaugural breakthroughs

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Effective Management
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Chapter 6 / Exercise Step 6
Effective Management
Williams
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12. radical innovation - The inaugural breakthroughs launched from experimentation and determined vision that are not necessarily managed but must be recognized and nurtured. 13. Skunk Works - A highly innovative enterprise that uses groups functioning outside traditional lines of authority. 14. strategic entrepreneurship - The exhibition of large- scale or otherwise highly consequential innovations that are adopted in the firm’s pursuit of competitive advantage. Using strategic entrepreneurship approaches, innovation can be in any of five areas: the firm’s strategy, product offerings, served markets, internal organization (i.e., structure, processes, and capabilities), or business model. 15. top management suppor t - When upper level managers in a corporation can concentrate on helping individuals within the system develop more entrepreneurial behavior. review and discussion Questions 1. In your own words, what is corporate entrepreneurship? a process that goes on inside an existing firm and that may lead to new business ventures, the development of new products, services or processes and the renewal of strategies and competitive postures. 2. What are two reasons that such a strong desire to develop corporate entrepreneurs has arisen in recent years? A highly competitive market has risen. In order for a company to survive, it must be innovative. Also, many firms that are unwilling to change are losing their best people to entrepreneurship
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Effective Management
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Chapter 6 / Exercise Step 6
Effective Management
Williams
Expert Verified
3. What are some of the corporate obstacles that must be overcome to establish a corporate entrepreneurial environment? The firm needs to emphasize individual responsibility among its employees. It must have a system of rewards based on results. It must overcome traditional management practices that are too rigid

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