Beruflich Dokumente
Kultur Dokumente
R. Dennis Middlemist
Colorado State University Copyright 2004 South-Western All rights reserved.
Knowledge Objectives
Studying this chapter should provide you with the strategic management knowledge needed to:
Define and explain strategic entrepreneurship. Describe the importance of entrepreneurial opportunities, innovation, and entrepreneurial capabilities.
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Figure 1.1
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Strategic Entrepreneurship
Strategic Entrepreneurship
Taking entrepreneurial actions using a strategic perspective Engaging in simultaneous opportunity seeking and competitive advantage seeking behaviors Designing and implementing entrepreneurial strategies to create wealth
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Entrepreneurial Opportunities
Entrepreneurial Opportunities
Conditions in which new products or services can satisfy a need in the market
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Innovation Process
Invention The act of creating or developing a new product or process Brings something new into being Technical criteria are used to determine the success of an invention
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Innovation Process
Invention The process of creating a commercial product from an invention Brings something new into use. Commercial criteria are used to determine the success of an innovation
Innovation
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Innovation Process
Invention The adoption of an innovation by similar firms Usually leads to product or process standardization Products based on imitation often are offered at lower prices but with fewer features
Innovation
Imitation
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Corporate Entrepreneurship
Innovations produced in large established firms
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Entrepreneurs
Entrepreneurs
Individuals acting independently or as part of an organization who create a new venture or develop an innovation, take risks entering innovations into the marketplace Can be any manager or employee in an organization
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Entrepreneurial Capabilities
Entrepreneurial capabilities include:
Intellectual capital Entrepreneurial mind-set Transfer of entrepreneurial competence to others in the organization Effective human capital
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International Entrepreneurship
Entrepreneurship can:
Fuel economic growth Create employment Generate prosperity for citizens
There is a strong positive relationship between the rate of entrepreneurial activity and economic development in a nation
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International Entrepreneurship
There must be a balance (in the culture) between
individual initiative and the spirit of cooperation and group ownership of innovation
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SOURCE: Adapted from R. A. Burgelman, 1983, A model of the interactions of strategic behavior, corporate context, and the concept of strategy, Academy of Management Review, 8: 65.
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Product champion
Organizational member with an entrepreneurial vision of a new good or service who seeks to create support for the visions commercialization
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Product development stages are grouped into parallel or overlapping processes, allowing the firm to tailor its product development efforts
Cross-functional Product Development Team
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Organizational politics
Aggressive competition for resources among different organizational functions Must achieve cross-functional integration with minimal political conflict
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Effective leadership
Sets goals and allocates resources Goals include integrated development and commercialization of new goods and services
Effective communication
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Firms innovate through the sharing their knowledge and skills in a cooperative relationship
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