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Summary Entrepreneurship 348

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A complete summary of all work covered in class during terms 3 and 4, including chapters 1, 2, 4, 6, 7, and 8 and themes 1 and 2. Also includes summaries of additional material and articles.

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  • November 29, 2023
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  • 2023/2024
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1

, Entrepreneurship and Innovation
Management 348
[Corporate entrepreneurship ]



Table of Contents
Introduction: Corporate Entrepreneurship .................................................................................................. 5

Corporate venturing ............................................................................................................................................5

Strategic entrepreneurship..................................................................................................................................5


Chapter 1: How to Build an Entrepreneurial Organisation ............................................................................ 6

Definitions of innovation .....................................................................................................................................6

Forms of Innovation.............................................................................................................................................6

Radical and incremental innovation....................................................................................................................7

Drivers of change .................................................................................................................................................7
Key questions..................................................................................................................................................7

Greiner model ......................................................................................................................................................8


Chapter 2: Entrepreneurial Strategy.......................................................................................................... 10

The traditional view of Strategy .................................................................................................................. 10
Entrepreneurial view of strategy ................................................................................................................. 10

Frameworks ...................................................................................................................................................... 10
Core competencies ...................................................................................................................................... 10
Dynamic capabilities .................................................................................................................................... 11
Blue Ocean Strategy .................................................................................................................................... 11


Chapter 4: Entrepreneurial Culture and Leadership ................................................................................... 16

Organisational structures ................................................................................................................................. 16
Organisational structures ............................................................................................................................ 17

Entrepreneurial processes ................................................................................................................................ 17
Scanning intensity ........................................................................................................................................ 17
Planning flexibility ....................................................................................................................................... 18
Locus of planning ......................................................................................................................................... 18
Strategic controls (measure & reward) ....................................................................................................... 18



2

, People ............................................................................................................................................................... 19
Recruiting the right people .......................................................................................................................... 19
Rewarding the right people ......................................................................................................................... 19
HR policies and procedures ......................................................................................................................... 19

Leadership ........................................................................................................................................................ 20
Gatekeepers................................................................................................................................................. 21
Champions ................................................................................................................................................... 21
Challenges of Leadership ............................................................................................................................. 21
Leadership styles ......................................................................................................................................... 22

Conclusion......................................................................................................................................................... 22
How to diagnose the entrepreneurial culture of an organisation .............................................................. 22


Chapter 6: Entrepreneurship with External Stakeholders ........................................................................... 22

Modes for corporate venturing ........................................................................................................................ 23

Motives for Corporate Venturing ..................................................................................................................... 23

Network approach ............................................................................................................................................ 23
Rothwell's 5 Generations of Innovation Models ......................................................................................... 23

creating New Value .......................................................................................................................................... 24

Interact with external stakeholders ................................................................................................................. 24
Looking to extremes .................................................................................................................................... 24
Crowdsourcing ............................................................................................................................................. 24


Chapter 7: Managing Uncertainty and Failure............................................................................................ 25

Limits of decision making and outcomes ......................................................................................................... 25

Entrepreneurial management .......................................................................................................................... 26
Venture-led innovation ............................................................................................................................... 26

Lean start-up .................................................................................................................................................... 27
Lean start-up rules ....................................................................................................................................... 27


Chapter 8: Building an Ambidextrous Organisation.................................................................................... 28

Types of New Knowledge ................................................................................................................................. 28

Knowledge sharing networks ........................................................................................................................... 29
Motivate members to participate ............................................................................................................in 29
Prevent free riders ....................................................................................................................................... 29
Reduce costs of finding and accessing valuable info .................................................................................. 29



3

, Absorptive capacity .......................................................................................................................................... 29

Learning styles .................................................................................................................................................. 30
Exploitative .................................................................................................................................................. 30
Explorative ................................................................................................................................................... 30
Ambidextrous .............................................................................................................................................. 31

Ambidexterity ................................................................................................................................................... 31
Approaches to ambidexterity ...................................................................................................................... 31
Organisational requirements for contextual ambidexterity ....................................................................... 31


Theme 1: Business Model Innovation ........................................................................................................ 32

Business model canvas ..................................................................................................................................... 33
Elements of a Business Model Canvas ........................................................................................................ 33

Business Model Innovation (BMI) ..................................................................................................................... 35
Importance of BMI....................................................................................................................................... 35
Challenges and risks of BMI ......................................................................................................................... 36
Types of BMI ................................................................................................................................................ 37
How to innovate the business model .......................................................................................................... 37

Lean Start-up Model ......................................................................................................................................... 38
Key principles of the lean start-up model ................................................................................................... 38


Theme 2: Social Innovation....................................................................................................................... 39

Social innovation .............................................................................................................................................. 40
Key characteristics ....................................................................................................................................... 40
What Is NOT social innovation? .................................................................................................................. 40
Why attempt social innovation? ................................................................................................................. 41

Design thinking ................................................................................................................................................. 42
The Design Thinking Model ......................................................................................................................... 42


Extra: Meta Article ................................................................................................................................... 43

Leadership ........................................................................................................................................................ 43

Culture and Structure ....................................................................................................................................... 44

Teams ............................................................................................................................................................... 44

Employee profile ............................................................................................................................................... 44




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