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Corporate Entrepreneurship: Entrepreneurial Action Within An Established Organization
Corporate Entrepreneurship: Entrepreneurial Action Within An Established Organization
Strategic Orientation:
Those factors that are inputs into the formulation of the firm’s strategy.
Commitment of Resources:
A focus on how to minimize the resources that would be required in the pursuit of a
particular opportunity.
Management Structure:
Few layers of bureaucracy between top management and the customer. It also has multiple
informal networks.
Reward Philosophy:
Compensates employees based on their contribution toward the discovery /generation and
exploitation of opportunity.
Growth Orientation:
A focus on rapid growth.
Causes for Interest in Corporate Entrepreneurship
1. Increasing interest in “doing your own thing” and doing it on one’s terms.
2. New search for meaning and impatience has caused more discontent in
structured organizations.
Step three:
Use of technology to ensure organizational flexibility.
Establishing Corporate Entrepreneurship in the Organization
(cont.)
Step four:
Identify interested managers to train employees and share their experiences.
Step five:
Develop ways for the organization to get closer to its customers.
Step six:
Learn to be more productive with fewer resources.
Establishing Corporate Entrepreneurship in the Organization
(cont.)
Step seven:
Establish a strong support structure for corporate entrepreneurship.
Step eight:
Tie rewards to the performance of the entrepreneurial unit.
Finally:
Implement an evaluation system that allows successful entrepreneurial units to expand
and unsuccessful ones to be eliminated.