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Summary of all articles and lectures of Innovation&Entrepreneurship course - EBM621A05 $6.95
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Summary of all articles and lectures of Innovation&Entrepreneurship course - EBM621A05

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Summary of all articles and lectures of Innovation&Entrepreneurship course

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  • February 13, 2023
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  • 2022/2023
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Contents
Lecture 1 – Introduction to Innovation&Entrepreneurship...................................................................2
Lecture 1 - Summary..........................................................................................................................2
Part 1 - Introduction......................................................................................................................2
Part 2 – Entrepreneurship – An opportunity based framework.....................................................2
Shane, S. and S. Venkataraman (2000), The Promise of Entrepreneurship as a Field of Research,
Academy of Management Review, 25(1), 217-226............................................................................8
Åstebro, T. (2003), The Return to Independent Invention: Evidence of Unrealistic Optimism, Risk
Seeking or Skewness Loving? The Economic Journal, 113(484), 226–239.......................................13
Lecture 2 – Successfully managing the entrepreneurial process – a Resource and Legitimacy
perspective..........................................................................................................................................17
Lecture 2 - Summary........................................................................................................................17
Alvarez, S.A., J.B. Barney, and P. Anderson (2013), Forming and exploiting opportunities: The
impactions of discovery and creation processes for entrepreneurial and organizational research.
Organization Science, 26(1), 301-317..............................................................................................26
Kerr, W. R., Nanda, R., & Rhodes-Kropf, M. (2014). Entrepreneurship as experimentation. Journal
of Economic Perspectives, 28(3), 25-48...........................................................................................35
Hsu, D. H. (2007). Experienced entrepreneurial founders, organizational capital, and venture
capital funding. Research Policy, 36(5), 722-741.............................................................................35
Lecture 3 - Successfully managing innovation processes - a resource and governance perspective...36
Lecture 3 – Summary.......................................................................................................................36
Evanschitzky, H., Eisend, M., Calantone, R.J. and Jiang, Y. (2012), Success Factors of Product
Innovation: An Updated Meta-Analysis, Journal of Product Innovation Management, 29(1), 21-37.
.........................................................................................................................................................41
Hansen, M. T., & Birkinshaw, J. (2007). The innovation value chain. Harvard Business Review,
85(6), 121–131.................................................................................................................................46
Ederer, F., & Manso, G. (2013). Is Pay for Performance Detrimental to Innovation? Management
Science, 59(7), 1496–1513...............................................................................................................49
Lecture 4 - Innovation & Entrepreneurship: Building a framework.....................................................49
Lecture 4 – Summary.......................................................................................................................49
Part 1: Linking Innovation to Entrepreneurship – building a framework – Legitimacy 1..............51
Part 2 – Linking Innovation to Entrepreneurship – building a framework – Legitimacy 2 &
Organizational forms...................................................................................................................52
Part 3 – Linking Innovation to Entrepreneurship – building a framework –Organizational forms
.....................................................................................................................................................54
9. Aldrich H.E. and C.M. Fiol, (1994), Fools rush in? The Institutional Context of Industry Creation,
Academy of Management Review, 19(4), 645-670..........................................................................56
10. Singh Rao, R., Chandy, R.K., and J.C. Prabhu (2008), The Fruits of Legitimacy; Why Some New
Ventures Gain More From Innovation Than Others, Journal of Marketing, 72, 58-75.....................63

, 11. Powell W.W. (1990). Neither Market nor Hierarchy: Network Forms of Organization. Research
in Organizational Behavior, 12, 295-336..........................................................................................69
Lecture 5 – Guest Lecture –.................................................................................................................76




Lecture 1 – Introduction to
Innovation&Entrepreneurship
Lecture 1 - Summary
Part 1 - Introduction
Main Course Objectives
 Define the concepts of innovation and entrepreneurship and explain their interrelationships.
 Develop a theoretical framework distinguishing factors that influence the success of an
innovation/entrepreneurial activity.
 Assess the validity of the theoretical framework in a real business setting by analyzing
secondary data on a specific case.
 Logically, clearly, carefully express your own activities, opinions and research findings to the
lecturer and fellow students.
Format
Theoretical part (Lectures 1-4):

Mainstream literature on innovation and entrepreneurship that provides the input for the
theoretical part of your essay.

 Definitions of innovation and entrepreneurship
 The relationship between innovation and entrepreneurship
 Criteria for evaluating the success of an innovation
 Stages in processes of innovation management and the entrepreneurial processes
 Factors influencing the process and effectiveness of innovation (e.g. resources, legitimation,
and the choice for an organizational form)


Part 2 – Entrepreneurship – An opportunity based framework
Structure of the course

,Index
1. Goals
2. Motivation
3. Entrepreneurship as an opportunity-based framework
4. Comparative advantages of entrepreneurial vs incumbent innovators
5. What does evidence tell us?
6. Possible relevant (exam) questions
7. Take-away points
8. References
1. Goals
 Understand the nexus between innovation and entrepreneurship:
o definitions and interrelationship
 Distinguish between (1) start-up innovation vs (2) incumbent innovation: two modes of
entrepreneurship.
1. Innovation taking place through the formation new ventures.
2. Innovation taking place in an established corporation
 Discuss advantages and prevalence of each mode of innovation


2. Motivation
Creative destruction (periods of quiet  waves of disruption  new players in market)

 Schumpeter believed that innovation causes most markets to evolve in a characteristic pattern
 Markets have periods of comparative quiet, when firms that have developed superior products
and technologies earn positive profits
 These periods are punctuated by fundamental shocks that destroy old sources of advantage and
replace them with new ones.
 Entrepreneurs who exploit the opportunities created by the shocks enjoy economic profits
during the next period of quiet.
Examples:

 Blockbuster vs Netflix
 Taxi vs Uber

,  DVD vs MP3
 Kodak vs digital camera
 Nokia vs iPhone
Disruptive Technologies (radical innovations)

 New entrants are associated with the creation of disruptive technologies. Such disruptive
technologies are heralded as a key driver of rising living standards.
 Incumbent firms often are associated with incremental innovations that contribute more
marginal gains to innovation. Often believed to be aimed at preserving market power.
Creative Destruction & Competitive Advantage

 What is the comparative advantage of start-ups vs incumbents at discovering and exploiting
opportunities?

3. Entrepreneurship as an opportunity based framework (Shane and
Venkataraman)
Entrepreneurship as the ability to exploit opportunities

 Entrepreneurship (innovation): the discovery and exploitation of a lucrative opportunity
 Opportunities: situations in which new goods, services, raw materials, and organizing methods
can be introduced and sold at greater [value] than their cost of production (Casson, 1982)
Who discovers opportunities?

 Opportunities are objective, but the process to identify them is subjective. Entrepreneurship
requires that people hold different beliefs and capabilities about the value of resources.
 Heterogeneity (e.g. different information, specific capabilities) generates a comparative
advantage that allows some individuals and not others to act on certain opportunities
Startup vs incumbent innovation

 Entrepreneurship does not require (but can include) the creation of new organizations
 It depends on who discovers and who exploits opportunities (do not need to be the same)
 Four types of innovation depending on the locus (startups vs incumbent firms) of the two key
stages of entrepreneurship (discovery and exploitation)
A. Incumbent innovation – all in-house




B. Incumbent innovation – external invention

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