Corporate Innovation & Entrepreneurship, International Edition
This summary contains all readings of CE 2023 taught by Kevin Curran. Lecture notes are integrated. For exam: Try to focus on the key concepts that have been discussed during the lectures. Try to make a connection between different weeks (e.g., exploring/exploiting + the ICV loop). The summary is 1...
ETP3702 Assignment 6 (COMPLETE ANSWERS) Semester 1 2024 - DUE 28 May 2024
ETP3702 ASSIGNEMENT 5 SEMESTER 1 2024 Discuss how one can gain a competitive advantage by utilising corporate entrepreneurship. Describe the concept of innovation Tabulate the benefits of instill...
How would you describe the external environment of an organization (Kuratko, Morris & Covin, 2011)?
Answer: Everything outside the company - including the competitive, customer, technological, economic, regulatory, social, labor, and supplier environments.
2.
What are the five key capabilities that help companies to gain a sustainable competitive advantage? Try to explain what each of the five entails as well (Kuratko, Morris & Covin, 2011).
Answer: 1. Adaptability: the ability to adjust to new technologies, customer needs, regulatory rules, etc. without losing focus or causing disruption of core operations.
2. Flexibility: the ability to design company strategies, processes, and operational approaches that can meet diverse & evolving requirements of key stakeholders.
3. Speed: the ability to act quickly on emerging opportunities.
4. Aggressiveness: an intense, focused and proactive approach.
5. Innovativeness: a continuous priority placed on developing and launching new products/services/processes/markets/technologies.
3.
Define \'Entrepreneurship\' (Kuratko, Morris & Covin, 2011) or (Hisrich, 1990).
Answer: Kuratko, Morris & Covin (2011): The process of creating value by bringing together a unique set of resources to exploit an opportunity.
Hisrich (1990): \"Entrepreneurship is the process of creating something different with value by devoting the necessary time and effort, assuming the accompanying financial, psychic, and social risks, and receiving the resulting rewards of monetary and personal satisfaction\"
4.
There are seven perspectives on the nature of entrepreneurship. It is about the creation of... (name all 7 perspectives): (Kuratko, Morris & Covin, 2011)
Answer: Change, Enterprise, Growth, Innovation, Jobs, Value & Wealth
5.
What are the six stages of the entrepreneurial process (Kuratko, Morris & Covin, 2011)?
Answer: 1. Identifying the Opportunity.
2. Defining the Business Concept.
3. Assessing the Resource Requirements.
4. Acquiring the Resource Requirements.
5. Implementing and Managing the Concept.
6. Harvesting the Venture.
6.
Name three major challenges for the corporate entrepreneur (Kuratko, Morris & Covin, 2011).
Name three reasons for corporate entrepreneurs to remain in the corporate environment (Kuratko, Morris & Covin, 2011).
Answer: 1. Size of the resource base they can tap into.
2. Potential to operate on a fairly significant scope and scale fairly quickly.
3. Security.
8.
Name the five stages of growth by Greiner (1998). Try to explain what is going on during each phase. No need to address the crises yet.
Answer: 1. Creation: emphasis on creating product and market.
2. Direction: Environment of more formal communications. Budgets and focus on separate activities (e.g., marketing/production).
3. Delegation: Mid-level managers are freed up to react faster to opportunities for new markets/products. Top-level managers focus on monitoring and dealing with bigger issues.
4. Coordination: Use of formal systems to achieve greater coordination.
5. Collaboration: Strong interpersonal collaboration.
9.
What is needed during a crisis of:
a. \'Leadership\'?
b. \'Autonomy\'?
c. \'Control\'?
d. \'Red Tape\'?
(Greiner, 1998)
Answer: a. Professional management.
b. Decentralized management with mid-level managers.
c. More sophisticated organizational design.
d. Need for new culture / structure.
10.
What is the main difference between the manager and the entrepreneur (Kuratko, Morris & Covin, 2011)?
Answer: The manager focuses more on optimalization of the current situation, whereas the entrepreneur focuses more on the future/what can be.
Content preview
Summary Corporate Entrepreneurship University of Amsterdam: 6013B0501Y
This summary contains all readings of CE 2023 taught by Kevin Curran. Lecture notes are integrated. For exam:
Try to focus on the key concepts that have been discussed during the lectures. Try to make a connection between
different weeks (e.g., exploring/exploiting + the ICV loop). The summary is 1.5 spaced for reading comfort.
C = Chapters – Kuratko, D.F., Morris, M.H., Covin, J.G. (2011) Corporate Innovation & Entrepreneurship. International Edition (3).
WEEK 1: OVERVIEW OF CORPORATE ENTREPRENEURSHIP 2
C1: The Entrepreneurial Imperatives in Established Organizations 2
C2: How Corporate Entrepreneurship Differs 4
A1: Evolution and Revolution as Organizations Grow 6
WEEK 2: BUILDING AN ENTREPRENEURIAL ORIENTATION 8
C3: Capturing the Entrepreneurial Orientation of the Firm 8
C6: Corporate Strategy and Entrepreneurship (pp. 147-156) 12
A2: Organizational Ambidexterity in Action: How Managers Explore and Exploit 15
WEEK 3: THE “INTRAPRENEUR” 16
C8: Fostering Creativity within Organizations (pp. 222-234) 16
C9: Human Resources Management 18
A3: Entrepreneurship/Intrapreneurship 22
A4: Entrepreneurial Behaviour by Employees in Organizations 24
WEEK 5: INTERNAL VENTURING 26
A5: Designs for Corporate Entrepreneurship in Established Firms 26
WEEK 7: CORPORATE ENTREPRENEURSHIP AND SOCIAL GOOD 37
C5: Entrepreneurship in Non-Profit and Government Organizations 37
A9: Selling Issues with Solutions 42
1
,Week 1: Overview of Corporate Entrepreneurship
C1: The Entrepreneurial Imperatives in Established Organizations
Turbulent Environments and the Embattled Corporation
Internal environment: the structures, systems, processes, and culture that make up the climate
within which people do the work of a company.
External environment: everything outside the company, including the competitive, customer,
technological, economic, regulatory, social, labor, and supplier environments.
o Continuous change: a never-ending stream of new challenges deriving from each domain
of the external environment.
o Companies are experiencing a general lack of long-term control over external environments.
→ Modern corporation finds itself ‘embattled’ as it struggles to survive.
→ Companies are forced to abandon conventional business practices.
o External change forces internal change
The New Path to Sustainable Competitive Advantage
Five key company capabilities:
1. Adaptability: the ability to adjust to new technologies, customer needs, regulatory
rules, etc. without losing focus or causing disruption of core operations.
2. Flexibility: the ability to design company strategies, processes, and operational
approaches that can meet the diverse and evolving requirements of key stakeholders.
3. Speed: the ability to act quickly on emerging opportunities.
4. Aggressiveness: an intense, focused, and proactive approach.
5. Innovativeness: a continuous priority placed on developing and launching new
products, services, processes, markets, and technologies.
2
, What is Entrepreneurship?
"The process of creating value by bringing together a unique combination of resources to
exploit an opportunity."
Seven Perspectives on the Nature of Entrepreneurship. Creation of…
Wealth Assuming the risks associated with the facilitation of production in exchange for profit.
Enterprise Founding of a new business venture where none existed before.
Innovation Unique combinations of resources that make existing methods/products obsolete.
Change Creating change by adjusting one’s personal skills to meet different opportunities.
Jobs Employing, managing, and developing the factors of production, incl. labor force.
Value Creating value for customers by exploiting untapped opportunities.
Growth Strong and positive orientation toward growth in sales/income/assets/employment.
Corporate Entrepreneurship: Entrepreneurial behavior inside an established mid-sized and
large organizations / The sum of a company’s innovation, renewal and venturing efforts.
Management vs. Entrepreneurship
Managers focus more on the current situation and how to improve efficiency and effectiveness.
Entrepreneurs focus less on the current situation and more on what can be (envision future).
Lecture: The Entrepreneurial Context is never defined; thus, entrepreneurship can
occur in: 1) Large conglomerates; 2) Non-profit organizations; 3) Public sector agencies
3) Start-up ventures; 4) Small firms; 5) Mid-sized companies.
The Organizational Life Cycle
The book refers to the work by Greiner, which is an assigned reading for this week. The subject
of the organizational life cycle will be explained in the summary of the Greiner article.
3
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