Summary articles, lectures and video
clips of Theories of Entrepreneurship and
Innovation
Inhoudsopgave
The fallacy (denkfout) of the perfect business plan:............................................................................................3
Stealth Mode’s (sluipmodes, dus alles stiekem doen, zonder dat potentiele concurrenten erachter komen)
declining popularity:.............................................................................................................................................3
Creating an Entrepreneurial, Innovation-Based Economy:..................................................................................4
Sledzik, K. (2013). Schumpeter’s view on innovation and entrepreneurship. Management Trends in Theory
and Practice, (ed.) Stefan Hittmar, Faculty of Management Science and Informatics, University of Zilina &
Institute of Management by University of Zilina, 2013, ISBN 978-80-554-0736-4.............................................4
Schumpeter’s “first” Entrepreneurship theory:....................................................................................................5
Video clip Entrepreneurship lecture 1:........................................................................................................... 6
Video clip Entrepreneurship lecture 2:..................................................................................................................6
Lecture 1. 01-09-2020.................................................................................................................................... 7
Wessel, M., & Christensen, C. M. (2012). Surviving disruption. Harvard Business Review, 90(12), 56-64..........8
Kuratko, D. F., Covin, J. G., & Hornsby, J. S. (2014). Why implementing corporate innovation is so
difficult. Business Horizons, 57, 5, 647-655.................................................................................................... 10
Implementation issues........................................................................................................................................10
Type of innovation sought..................................................................................................................................10
Coordination of managerial roles.......................................................................................................................12
Effective use of operating controls.....................................................................................................................12
Individual training and preparation...................................................................................................................13
From frustration to fulfillment............................................................................................................................13
Lecture 2. 03-09-2020.................................................................................................................................. 13
Pre-recorded lecture 03-09-2020.................................................................................................................. 15
What are the challenges of innovation?............................................................................................................16
What is innovation?............................................................................................................................................16
Different types of innovation: Radical-, architectural-, modular- and incremental- innovation.......................17
Disruptive innovation..........................................................................................................................................19
Week 2........................................................................................................................................................ 20
Pre-recorded lecture 08-09-2020.......................................................................................................................20
Types and dimensions of innovation..................................................................................................................21
, Digital innovations..............................................................................................................................................24
Lecture 3. 08-09-2020.................................................................................................................................. 25
Case lecture:.......................................................................................................................................................25
Pre-recorded lecture 10-09-2020.......................................................................................................................27
Sawhney, M. , Wolcott, R.C. and Arroniz, I. (2006). The 12 different ways for companies to innovate, in: MIT
Sloan Management (2011). Top 10 Lessons on the new business of Innovation, p. 28-34.Links to an external
site.............................................................................................................................................................. 30
Yoo, Y., Boland Jr, R. J., Lyytinen, K., & Majchrzak, A. (2012). Organizing for innovation in the digitized
world. Organization Science, 23(5), 1398-1408.Links to an external site........................................................32
Lecture 4. 10-09-2020.........................................................................................................................................35
Week 3........................................................................................................................................................ 35
Pre-recorded lecture. 14-09-2020......................................................................................................................35
Tushman, M.L., Smith, W.K., Chapman Wood, R., Westerman, G. and O’Reilly, C. A. (2010). Organizational
designs and innovation streams, Industrial and Corporate Change, 19, 1331-1366.........................................36
Lecture 5. 15-09-2020.........................................................................................................................................39
Pre-recorded lecture. 17-09-2020......................................................................................................................40
Prahalad and Hammond (2002):...................................................................................................................40
Mair and Marti (2006)...................................................................................................................................41
Felicio Et Al. (2013)........................................................................................................................................42
Lecture 6. 17-09-2020.........................................................................................................................................43
Week 4........................................................................................................................................................ 43
Pre-recorded lecture. 22-09-2020......................................................................................................................43
Lecture 7. 22-09-2020.................................................................................................................................. 47
Pre-recorded lecture 8. 24-09-2020.............................................................................................................. 48
Guest lecture. 24-09-2020............................................................................................................................ 52
Week 5........................................................................................................................................................ 52
Pre-recorded lecture. 29-09-2020................................................................................................................. 52
Lecture. 29-09-2020..................................................................................................................................... 58
Pre-recorded lecture. 01-10-2020. Financing new ventures...........................................................................60
Week 6........................................................................................................................................................ 64
Lecture 11. 06-10-2020. Intrapreneurship and Employee spinouts................................................................64
Lecture. 06-10-2020..................................................................................................................................... 68
Pre-recorded lecture. 08-10-2020. Crowdfunding.........................................................................................69
Blank, S. (2013). Why the lean start-up changes everything. In Harvard Business Review,
91(5), 63-72.
,Lean startup: A lean startup is a method used to found a new company or introduce a new
product on behalf of an existing company. The lean startup method advocates developing
products that consumers have already demonstrated they desire so that a market will
already exist as soon as the product is launched. As opposed to developing a product and
then hoping that demand will emerge.
Minimum viable product (MVP): A version of a product with just enough features to satisfy
early customers and provide feedback for future product development. Gathering insights
from an MVP is often less expensive than developing a product with more features, which
increases costs and risk if the product fails, for example, due to incorrect assumptions.
The fallacy (denkfout) of the perfect business plan:
We have learned three things of start-ups following the standard regimen of setting up a
business plan, developing the product (with little customer input) and launching it.
1. Business plans rarely survive first contact with customers.
2. No one besides venture capitalists requires five-year plans to forecast complete
unknowns. These plans are generally fiction and dreaming them up is almost always a waste
of time.
3. Start-ups are not smaller versions of large companies. They do not unfold in accordance
with masterplans.
One of the most important differences is that while existing companies execute a business
model, start-ups look for one. This distinction is at heart of the lean start-up approach. It
shapes the lean definition of a start-up.: a temporary organization designed to search for a
repeatable and scalable business model.
Three key principles of the lean method:
1. Rather than engaging in months of planning and research, entrepreneurs accept that all
they have on day one is a series of untested hypotheses (basically good guesses). So instead
of writing a complicated business plan, founders summarize their hypotheses in a business
model canvas.
2. Lean start-ups u an approach called: customer development, to test their hypotheses.
They go out and ask potential users, purchasers and partners for feedback on all elements of
the business model. New ventures rapidly assemble minimum viable products and
immediately elicit customer feedback. Then using customers’ input to revise their
assumptions, they start the cycle over again.
3. Lean start-ups practice something called agile development, which works hand-in-hand
with customer development. Agile development eliminates wasted time and resources by
developing the product iteratively and incrementally.
Stealth Mode’s (sluipmodes, dus alles stiekem doen, zonder dat potentiele
concurrenten erachter komen) declining popularity:
The lean start-up methodology makes those concepts obsolete because it holds that in most
industries customer feedback matters more than secrecy and constant feedback yields
better results than cadenced unveilings.
, Creating an Entrepreneurial, Innovation-Based Economy:
Using lean methods across a portfolio of start-ups will result in fewer failures than using
traditional methods.
A lower start-up failure rate could have profound economic consequences. Employment
growth will have to come from new ventures, so we all have a vested interest in fostering an
environment that helps them succeed, grow, and hire more workers.
Sledzik, K. (2013). Schumpeter’s view on innovation and
entrepreneurship. Management Trends in Theory and Practice, (ed.)
Stefan Hittmar, Faculty of Management Science and Informatics,
University of Zilina & Institute of Management by University of Zilina,
2013, ISBN 978-80-554-0736-4.
Schumpeter described development as historical process of structural changes, substantially
driven by innovation which was divided by him into five types:
1. Launch of a new product or a new species of already known product;
2. Application of new methods of production or sales of a product (not yet proven in the
industry);
3. Opening of a new market (the market for which a branch of the industry was not yet
represented);
4. Acquiring of new sources of supply of raw material or semi-finished goods;
5. New industry structure such as the creation or destruction of a monopoly position.
Schumpeter: anyone seeking for profits must innovate. Schumpeter believed that innovation
is considered as an essential driver of competitiveness and economic dynamics. He also
believed that innovation is the center of economic change causing gales of “creative
destruction”.
> According to Schumpeter innovation is a "process of industrial mutation, that incessantly
revolutionizes the economic structure from within, incessantly destroying the old one,
incessantly creating a new one".
Schumpeter divided the innovation process into four dimensions: invention, innovation,
diffusion and imitation. Then he puts the dynamic entrepreneur in the middle of his analysis.
In Schumpeter’s theory, the possibility and activity of the entrepreneurs, drawing upon the
discoveries of scientists and inventors, create completely new opportunities for investment,
growth and employment. The diffusion and imitation process have a much greater influence
on the state of an economy. The macroeconomic effects of any basic innovation are hardly
noticeable in the first few years (and often even longer). It is only after the diffusion of basic
innovation, which is the period when imitators begin to realize the profitability of the new
product or process and start to invest heavily in that technology.
Innovation is the “creative destruction” that develops the economy while the entrepreneur
performs the function of the change creator. In Schumpeter’s work entrepreneur is:
“Carrying out innovations is the only function which is fundamental in history” [5]. Typical
