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E&FBM - MBA 2020: Session 2 Corporate Entrepreneurship & Innovation

This document discusses corporate entrepreneurship and innovation. It defines corporate entrepreneurship as adding new businesses through internal or external venturing, while strategic entrepreneurship refers to large-scale innovations that provide competitive advantage. Innovation is becoming more important for companies to stay ahead of competitors and avoid obsolescence. The document also discusses how companies can nurture innovation through an entrepreneurial atmosphere, orientation to the market, interactive learning, idea management programs, and fostering creativity by encouraging ideas and experimentation.

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SoorajKrishnan
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52 views17 pages

E&FBM - MBA 2020: Session 2 Corporate Entrepreneurship & Innovation

This document discusses corporate entrepreneurship and innovation. It defines corporate entrepreneurship as adding new businesses through internal or external venturing, while strategic entrepreneurship refers to large-scale innovations that provide competitive advantage. Innovation is becoming more important for companies to stay ahead of competitors and avoid obsolescence. The document also discusses how companies can nurture innovation through an entrepreneurial atmosphere, orientation to the market, interactive learning, idea management programs, and fostering creativity by encouraging ideas and experimentation.

Uploaded by

SoorajKrishnan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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E&FBM - MBA 2020

Session 2
Corporate Entrepreneurship & Innovation
What is Org./Corporate Entrepreneurship?

Normally we do not
associate an employee of an
organisation as
ENTREPRENEUR…

It’s the ‘mindset’ that


matters!!

Yes, Risk taking matters


But, How do we equip
employees to take RISK?
Set explicit innovation goals

Create a system of feedback and positive


reinforcement

Emphasise individual responsibility

Provide rewards for innovative ideas

Do not punish failures


Two Distinct Phenomenon..
Corporate venturing

The adding of new businesses to the corporation accomplished through


internal corporate venturing, or external corporate venturing

Strategic entrepreneurship

The exhibition of large-scale or otherwise highly consequential innovations


that are adopted in the firm’s pursuit of competitive advantage

Innovation can be in the firm’s strategy, product offerings, served


markets, internal organisation (structure, processes, and capabilities) or
business model.
Why is this phenomenon more
pertinent to discuss now?
Rapidly growing number of new sophisticated competitors.

A company must always be ready and willing to accept


innovations or it will quickly become obsolete.

Remember our GAZELLE!!

A sense of status symbol for employees to become entrepreneurs

Rather than making them your own competitors

ZOOM is a classic example (Ex CISCO Webex employee)


If this is so important, How do we
nurture it?

Atmosphere and vision

Orientation to the market


Small, flat organisations

Multiple approaches

Interactive learning
Innovation
Product & Service Innovation
Product innovation
concerns the innovation of
physical products, products
that are tangible

Service Innovation in
contrast to such physical
products, services are
generally not tangible
Incremental & Radical Innovation

Radical innovations are new


and very different from
solutions that already exist
Incremental innovations are
innovations that are just
slightly different from
solutions that already exist
Modular & Architectural Innovation

Modular innovation is about


changing a component
without changing how a
system is configured
Architectural innovation
refers to a change in the
configuration of the entire
system and how its
components interact
Where do these creative
ideas come from?

Trends

Industry and market changes.

Demographic changes.

Unexpected occurrences.
How to develop once own
creativity?
Recognizing relationships

Many inventions and innovations are a result of seeing new and


different relationships among objects, processes, materials

Developing a functional perspective

Viewing things and people in terms of how they can satisfy his
or her needs and help complete a project.

Using your brains

The left brain hemisphere helps an individual understand


analogies, imagine things, and synthesize information; the right
brain hemisphere helps the person analyze, verbalize, and use
rational approaches to problem solving.
Time for a poll…
What is your dominant side of brain?
In Organisations, How to foster
creativity?
A trustful management
Selection and promotion
Open channels of communication based on merit

Considerable contact and Encouraging ideas


communication with outsiders
Sufficient resources for
A large variety of personality accomplishing goals
types

A willingness to accept change

An enjoyment in experimenting
with new ideas
Idea Management Programs
A systematic process that
helps companies to manage
new ideas that come from
employees, customers, or
suppliers
With idea management
programs companies make a
statement, they say we want
your ideas

Works on Proactive
creativity
Let’s
discuss
a bit
further
!
Let’s wind up for
today
Be prepared with session plan
material uploaded in teams before
next session

DONOT FORGET TO TAKE THE QUIZ


between 8 & 9 PM today

My channel will be open for


interactions…
[email protected]
or
Moodle discussion platform
(Rajagiri)

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