Sunteți pe pagina 1din 13

Chapter

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

©2000 South-Western College Publishing


Ch13
Chapter 2
Strategic External
Environment
The Strategic
Management
Inputs
Strategic Intent
Strategic Mission
Chapter 3
Internal
Environment
Process

Strategy Formulation Strategy Implementation

Chapter 4 Chapter 5 Chapter 6 Chapter 10 Chapter 11


Business-Level Competitive Corporate-Level Corporate Structure
Strategic
Actions

Strategy Dynamics Strategy Governance & Control

Chapter 7 Chapter 8 Chapter 9 Chapter 12 Chapter 13


Acquisitions & International Cooperative Strategic Entrepreneurship
Restructuring Strategy Strategies Leadership & Innovation
Outcomes
Strategic

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

The key to success with entrepreneurship and


innovation is moving from the invention of ideas
to effective commercialization and acceptance in
the marketplace

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:

Internal Corporate Venturing Create


Create it!
it!

Cooperating to Produce Innovation Co-opt


Co-opt it!
it!

Acquiring Innovative Capability Buy


Buy it!
it!

Ch13
Internal Corporate Venturing

Corporate Intrapreneurship can occur as either a


bottom-up process or as a top-down process

Autonomous strategic behavior is a bottom-up process


through which Product Champions pursue new product
ideas to commercialization

Product Champions are individuals who have an


entrepreneurial vision for a new product and seek
support for its commercialization

Ch13
Model of Internal Corporate Venturing

Concept of Corporate Strategy

Strategic Context Structural Context

Autonomous Induced
Strategic Strategic
Behavior Behavior
Ch13
Internal Corporate Venturing

Induced strategic behavior is a top-down process


in which the current strategy and structure foster
product innovations that are closely associated
with the current strategy

Environmental uncertainty makes developing


entrepreneurship strategy highly complex

Requires a decision on which corporate resources


to deploy for new technology development and
which innovative ideas to bring to market

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

Strategic alliances can help to foster innovation by


combining the knowledge and resources of two or
more partners

Firms must focus on building knowledge, identifying


core competencies and developing strong human
resources to manage these projects

Firms can also give away their core competencies by


outsourcing to alliance partners rather than developing
their own capabilities over time
Ch13-
Acquiring Innovative Capability

Many firms now use acquisitions of other firms as


a substitute for developing innovations internally

This can reduce risk and lower costly R&D


investments

The drawback is that firms can eventually lose


their ability to generate innovations internally

Ch13-
Small Firms and Innovation

Small firms created most of the new jobs in the U.S.


in the 1990s and this will continue in the 21st
century

While large firms account for over 80% of the world’s


R&D spending, individuals or small firms are granted
more than half of U.S. patents

Many small firms are created when employees leave


large firms to start their own businesses, frequently
continuing to interact with their former firms to develop
innovations and new products
Ch13-

S-ar putea să vă placă și