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Chapter 13
13
Corporate Entrepreneurship
and Innovation
Michael
Michael A.
A. Hitt
Hitt
R.
R. Duane
Duane Ireland
Ireland
Robert
Robert E.
E. Hoskisson
Hoskisson
Strategic
Competitiveness
Above Average
Feedback
Returns
Ch13
Defining Entrepreneurship
Corporate Entrepreneurship
Firm’s capabilities 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
Ch13
Successful Entrepreneurship
Ch13
Innovation and Competitive Advantage
Difficult
Difficult for
for
competitors
competitors to
to imitate
imitate
Commercially
Commercially exploitable
exploitable
with
with present
present capabilities
capabilities
Competitive
Competitive
Provides
Provides significant
significant
Advantage
Advantage
value
value to
to customers
customers
Timely
Timely
Ch13
Fostering Entrepreneurial Innovation
Three approaches:
Ch13
Internal Corporate Venturing
Ch13
Model of Internal Corporate Venturing
Autonomous Induced
Strategic Strategic
Behavior Behavior
Ch13
Internal Corporate Venturing
Ch13
Appropriating Value from Innovation
Barriers to Integration
Different Time Time to
Orientation
Interpersonal Market
Orientation
Different Goal Cross- Value
Orientatio Functional Appropriation
n of
Formality Integration/ Product from
Structure
Design Teams Quality Innovation
Facilitators of
Integration
Creation of
Shared Values
Customer
Leaders’ Vision
Value
Budget Allocation
Effective
Communication
Ch13-
Cooperating to Produce Innovation
Ch13-
Small Firms and Innovation