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Entrepreneurship & Intrapreneurship: What it takes to make it work.

Entrepreneurship & Intrapreneurship: What it takes to make it work. This is not in the text. Entrepreneurship.

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Entrepreneurship & Intrapreneurship: What it takes to make it work.

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  1. Entrepreneurship & Intrapreneurship: What it takes to make it work. This is not in the text.

  2. Entrepreneurship • The process of uncovering and developing an opportunity to create value through innovation and seizing that opportunity without regard to either resources (human and capital) or the location of the entrepreneur—in a new or existing company (Churchill, 1992: 586).

  3. Entrepreneurship Characteristics • Commercial leanings • Lack of structure/self-control • Visionary tendencies. • Risk-taking/appetite for uncertainty • Persistence • Doer/high initiative • Charisma and extroversion

  4. Entrepreneurship Characteristics • High-energy level • Strong self-image • Team building skills/uses contacts and connections • Views failure as learning • Commitment and fun

  5. Reward System - Doing what they like.Independence. Activity - Direct involvement. Risk - Moderate risk taker. Status - Not concerned about status symbols. Reward System - Corporate rewards. Promotion, staff, office, money. Activity - Delegates and supervises. Risk - Avoids risk. Status - Concerned about status symbols. Entrepreneurs vs. Managers

  6. Mistakes - Deals and learns from them. Decisions - Follows dreams with decisions. Who serves - Customers and self. Relationships - Deal-making and reciprocity. Time orientation - 5 - 10 years. Mistakes - Avoids or shifts blame. Decisions - Agrees with those above them. Who serves - Others. Relationships - Hierarchy. Time orientation - Short- term. Entrepreneurs vs. Managers

  7. Intrapreneurship Characteristics • Understands the environment. • Visionary and flexible. • Creates management options. • Encourages teamwork. • Encourages open discussion. • Builds a coalition of supporters. • Persists.

  8. Dimensions of Intrapreneurship (Antonic and Hisrich, 2003)

  9. Dimensions of Intrapreneurship(Antonic and Hisrich, 2003)

  10. Critical Questions that need to be asked to create wealth generating activities. • Where and in what ways is change creating the potential for new rules and new space? • What is the potential for revolution inherent in the things that are changing right now, or have already changed? • What are the discontinuities we could exploit? • What aspect of what’s changing can we come to understand better than anyone else in our industry? • What’s the deep dynamic that will make our new business concept oh-so-relevant right now? (Hamel, 2000)

  11. Recommended Reading Antoncic, B. & Hisrich, R.D. 2003. Clarifying the intrapreneurship concept. Journal of Small Business & Enterprise Development, 10 (1): 7-24. Churchill, N.C. 1992. Research issues in entrepreneurship. In Sexton, D.L. and Kasarda, J.D. (Eds.), The State of the Art of Entrepreneurship, PWS-KENT, Boston, MA: 570-06. Hamel, Gary. 2000. Leading the Revolution. Harvard Business School Press, Boston.

  12. How to Start An Insurrection • Build a point of view • Write a manifesto • Create a coalition • Pick your targets and pick your moments • Co-opt and neutralize (create win-win propositions) • Find a translator • Win small, win early, win often • Isolate, infiltrate, integrate (Hamel, 2000)

  13. III. What’s the Process • Scan for external opportunity and internal improvements • Set explicit agreed upon goals • Rewards and Responsibility outlined • Supply energy and determination

  14. Seed Funding Concept Proposal Seed Proposal Pitch Business Proposal 1st Round Biz Funding Investment Director $ustainable Business Pitch Again Overview of the Process GOAL

  15. Intrapreneurship Environment • New ideas encouraged • Trial and error encouraged. Failure ok! • Resources available and accessible • Long time horizon • Appropriate reward system • Sponsors and champions available • Support of top management

  16. Don’t Lose Focus!!! “It is the customer who, in the end, determines how many people are employed and what sort of wages companies can afford.” Lord Robens

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