Coporate Enterpreneurship

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PrvPessor Olexcader Gries 

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Phe (Cutrepreceuridt ODicdset ia 0 5 5 ٠ )12 ‏جا جرواصه‎ the ewerqeue of the eotrepredeurid — (ke ropid evotutica oP ‏سوم اوه له لیس‎ highttevk eotrepredeuridl start-ups. — Oexoruphic treads oddiag Puel to the protPerciica oP ‏ماه‎ ‎developing vestures. — Dhe vector cupid worket berowe oo ef Periive Purdy werkuisw. — wero ‏مها نا مها وله‎ how to wore ۳ ‏زف أو سجس‎ 

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Reraygcerriagy Oprporcite kicker * Gteps thot will help inaovotive peuple to develop ‏جه‎ ‎murepredruddl wiedset: . Get explot yuk. ©. Crede ‏و‎ systew oP Peedbaok acd postive ‏اور‎ 9 ‏املرشه عطع۰)‎ respoustiiy. . Give rewards bused va results. S. Op wt punish Pokies. 

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(ssessiny Gupport Por ‏موه‎ Oves the Pin eucvunne eurepredcurtal thiakicy? Oves the Pin provide ways Por icaouetors to stay with their ideas? Ore people perwitted to do the job in their bua way, or ore they ‏راوس‎ stoppiccy io expla their octioes od ask Por persvission? us the Pirw evolved quick cod iPorwdl ways to access the resources te ity vew eas? us the Pires developed ways to wore woop sult ood Experiectd inepvaiions? 

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Ques Por ca Ieavaive Cwvircavedt ‏موق‎ ‎Ose ‏بووین رات مهن وا‎ ‏ون واه و و نت۳ ماو‎ ‏ما مت موی با میج‎ bo rarer. Qewerd iceovatva Por ivapvutiva’s sabe. (Phaa the physicd layout oP ‏برج محص ما مجر جيم مول‎ Boral PUREST RT, مه لا سوه و وت عمج من اه ماما واه و ۳ ام( مت مرو ون ور نج لجن ساممص له حور لو مه و اور موق 5-5 2 و ه 8 ۵ 8 2 او مهو موسر اون لسن ‎QO,‏ bya, yh ‏یس لحت‎ he, ded arene Cite er 57 سین ‎Cree‏ ‏لماك 0 سمط ‎heer‏ ا 0 06 001 001001 

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Baroureqiag oa Ieteaprecrcurial Cwiroavedt ٠ Gteps to help resteucture vorporuie thichiogy ood Cory ‏جع وه امس اه ماب‎ . Pop wore wed spousorship oP inteapreceurd projects . Creston oP botk diversity ond order int stroteuic uviiviies . @rowotiod oP ictropreaeurship though ‏او سوه‎ » Qevelopwedt of oolbordicn betwee ‏سود‎ ‎punivipodts ced the orcrcizetize ut kage 2 0 نل 5 مو 

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روامسسسان۲) © beads to the developed oF ‏ای سل تیوه‎ yw. © Creates a work Porve thot co kelp the etterprise wuiutuic its powpetiiive posture. * Prowotes u cltwote couducive to high uhievers und helps the euterprise wotvate und keep its best peopl. 

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Phe Duature oP Corporste * Oehiciay Nhe Cvuept - Corporde Curepredeuship ° Onctvities thot receive oryacizeivcd scociicn wd resvurce vowwitoeds Por the purpose oF icaovotive results. ماه و ادلی اه ‎process whereby oo fodividual oro group‏ © — مه ما سود و و ره روت جد كلاننا ار سا مات ماو و تور وه له راو عم نا وم من ات۳ مه ‎that‏ مومسم © — انب موی موی ام ما موی با لس امش( او مها ۱ باون 

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Phe Deed Por Corporste (Batrepreveuricay ‏كاوها‎ youth fo the ‏امین‎ oP cew on sophisticated ‏موه‎ Gevse ‏۲اه‎ distrust in the trodiicod wethods oP ‏وی‎ ‎SORE WET Qu exodus of sowe oP the best ued brightest peuple Prow vorporions to bevowe sxodl busivess rurrepredeurs ‎cowpetitiot‏ و تزا اوه وی ۲و رمتحعمرهو) ‎to iwprove eP Piped ood productivity‏ وی اون و9) 

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Gouwves oP ocd Goluizvas to Obstacles ic Corporste Orcturtacy ‏وت هه تسم همست مدا‎ له بسا م۳ عاد ا (hen pls rebates ara Camen aaa feasetnine coin, ‏سس‎ Per nok, a ‏قحك احم حدمي‎ ‏شش‎ she [7 [0 tren omar, heeft rok ‏و رال‎ ‏وس سر‎ (01 ‏موس ولو‎ re 7 ‏نم‎ ee ene shee Hoch, Rath ‏سس‎ ال ‎Crepe‏ ‏همم ماج بیط ول ملسم و ب ‎rane pub echo‏ ‎bak Pre comes‏ Carmen Paha olor ۳ موس 0 ایا بط عونت مد رم عبد هجو تاه امد همه نیما eae oP ec @dhorer seen process ‏ای امه‎ 0 لس (Omar ‏سوه‎ hon Chor be beer Dome Areal ی مس لجا 0 یساس ‎dene‏ ike nce Br provenance Omens ‏لفسا‎ 9 Ove Compr Cntr tah: Graver oe, oe Sow Le i, erat tne ri te سرت 

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SGuovessPhul ‏شوه ؟‎ Cowpunies * ‏ها و شوج‎ corporiives thot ore surcessPul ‏:سكم‎ ‎— Orvospkere ocd vision — Orfentativa to the warket — Owoull, Rot orxratzatives — Dutiple opproackes — ‏سا موجه‎ — Gkuckworks 

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٠ Corporate Cutrepreveurship Otrateyy — 0 usiordrenied, orecizeiowrwide ‏او‎ oo ‏اجه له رال موم ما وا سول‎ ‏موه له تم جا وسادمج ين زور‎ the scope oF ite ‏اه هام لت مرو عا مها ره‎ ‏نااك اس وه مسج ولو‎ ۱ the oredivd oP coruruwe beter the utreprecrurtd vision of the pryecization's leaders ced the puirepredeundl uniioas oP those thoughout the oryacizatiod. 

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Oa oteqraive Ovdel ‏خم‎ Corporate Catrepreceurshiy ‏مره‎ Gere Dre ‏)رت اس‎ el ol Lae, ‏مس‎ Ome ‏رل امس میا روج ملسم‎ wn Brac 0 

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Coweptudiziagy ua Corporute Cutrepreveurtd Gtroteqy (cont'd) * Criicd steps oP a porporde euirepreceurdl strutexp! — Developing the visiva — Caoouragay icamvatiod — Gtructurtay Por co foteaprecrural lierzte — Developing iodivicdual woongers Por corporate purepreururship — Developing vewture texnvs. 

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Gkored Otsion (Grea de On em Carne pn be rar caro ene te Omen Orsini” Cremer, ‏)مسا مد مس‎ 19H) 

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Types oP ‏جیهم‎ * Radic Ieaovatiod — De hovochkiey oF icaugqued breukhrougks. — VkRese icoovuiives tohe experiwectaicd ond deterxived visiva, wick ore vot vecessuriy woonged but wust be recoysized und nurtured, ۰ ‏كدوج ون‎ eapvation — Dke systewutc evotuica oP a product or service toto Sewer or larger warkets. — Onuny tives the ore wet icavetive wil tobe bver oPter a ‏۰اه ه له موه لو‎ 

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Obevives ont Progeavs Por Ovcture Develppwrct مدا ‎Recker wororesary burraorny, ood eCoR‏ ی ‎Bosra‏ اوه مود سوم و او ‎rier deca prom musi‏ سمحي بجنا لس مه يبهذا لحي راما با ‏جسم ممصت ‎ed‏ مريت ‎(se‏ 0ك ‎rakes. (The wxey hee bora wwe nara‏ وم ‎xp a spec Puan Por ‏وم اس‎ ‏مس وج ره روط بط‎ referred po “booker” fer). ‎Gock syreryes cores buskwss areas ‏سح مد‎ (Becoureep prt propos ued veces erway vena, ‏سومج ججوور‎ ore decovered mt ‏0ك سجس ملسي بح‎ ood compaaes. Blow el eae ‏مور‎ dense od brace ww nas. ‎in nt, en Dane tre te‏ لس رو ‎nena nr yet hel Omer,‏ عسي ا س8 و ‎ ‎ ‎ 

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‎Gupporiony Radicd ood Ioorewwectal‏ له رمنم‌طمورو() ‏«سنورمجمب> ‎(Get ayer cp od dere.‏ ی سس رس لس ‎Onnkar‏ ای موه قح له بایان مسا سر يي م سس قيي قت لجعي ايا ‎Caner‏ بلسي لعل لس ا سم یه با یه با تا ما موس تخاس لاس هباج الم پم لصا بط ‎sth.‏ ماس لو تسوت بو رام و وا ‎ve persvad ature —devebp rekicashys oP‏ ‎Prow ovexb pores. (Get clear Proce rewards Por common see‏ سم مسق اه ای 7 ‎(Reward wik Preedow aed copid Por ‏و تن‎ cod ‏.98 ۱۳0 اسب )میا ‎ Prht Deen” Cd ata‏ سا قنظ ریت0 ۵ بیس ‎Creer‏ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ 

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(Structure Por u Corporste :عرص ‎Qeestublishiay the drive to‏ )° ۰ یط ‎deus io‏ ترجه ‎thot dow‏ شوه لوصح وه و راما وم اروت رهوج ‎Croke curturiay ond Porwuloe shorty wives.‏ = سا سره مرو ‎pervepion of wa‏ ویب = ‎Oorporcite Orcturicry‏ ۰ اما سس ‎Tesitvionaiziay ihe process of ewbruciay ihe yodl oP‏ = ‎neovaive prochits, processes, ue lechoolodies wik oa‏ يط يوون ما من مامت 

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4otirapreceuridl Developed: viet Pucrtica oF ‏امه‎ ‎ood Orxeizativca (Pavtors Job Attitudes Behavioral Intentions antag Includes stability of product economic conditions, Individual Factors Organizational Factors (Goan her. Oram, "Orgies Ot ‏ا مم‎ at Carty (nary 00): O0. 

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Preparery Por (Pakire © “Dearcicg Brow (Pature” — Revoxniziog the ‏روموت وه سوت‎ he uric process — Onderstondiag how oryecizeived rouiices ord rita ane likely to Pheu the yrieP revovery. — Geosuriay thot the ‏مر‎ svctd support systew cot ‏وروی امش و ,رما وت رو موم‎ reuse copie se-ePPicapy ‏اه لته و‎ 

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Oevelppicry edivicual (acagers * Corporste Cutrepreveurship Praiciay Progra (Corporsie Breukihrougk Praisice) 4 Che @reukhrougk Experteuwe 2. reukhrough Mrickiccy (Wea @cceleration Process @aners unt (Puciltaiors to Ieeovcive Mhichicy . Gustocioy @reckhrougk Means . The ®redkhrougk loa 0080 

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Ossessweet Iustrnvedt (CEC@1) ٠ ep Ieterca Clivate Pastors ia oa Orxuaizatiod's Reuduess Por Cutrepreccurid @rtivipy — Oorekewed support — @utowewphwork discretion — Rewards/renPorcewedt — Dive avclobiliy - ‏لها اتمه هه‎ 

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(Bekwior * Orpizeives Poster eurepreacurtd bekavior by: = Bewouragie ont warrior eovaive ‏هروه‎ ‎= ‏وجوه وري‎ poloies Por ‏عويب لها‎ = Commie; to ‏وا موه و تا رما سا‎ poor. — @et oa peopl, wt oa ‏.كاك ادكه‎ ۰ ‏رملسمبوج)‎ Catrepredeuriag: = ‏وريس زر ةا "لو نوسيات اليو م تسوه نطق‎ ‏با روط و‎ to work oa Puure projects — QOcke itteacupitdl avalable Por Putune research ideas 

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Surstaiciccy Corporste ٠ Gustaced Corporate Cutrepreceurship Dodet — used vc thevretiod Pourdaticas Pow previous siroteqy cd ‏موس محر‎ research. - ‏عم عونمم سا ون‎ ot the iodivicudl ced ‏امم ام‎ fevel vo oryenizaiccd vuicowes, boik perceived cad rel, thot iePleure the cootccdicd oF the euirepreceurtal ‏وت‎ زا موه = ۰ ‏ام ماوق‎ or ‏با ۵ ام‎ cocpcny thal itotes fhe ceed Por piri ‏وا‎ or chop. 

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‎Tens‏ )1( حعضصه؟ بجن‌ماورورا) ‎۰ ‏عرص‎ )( Pea — 0 sewroicwwos selP-direniiog, selP-cocagiag, high perPorwieg your oP we or wore people who Porch prede ont shore the puweership of ‏تا تیوه و‎ — Dke leader is coed o “product ckeppiod” or ao “corporcie * Colevive Cutrepreveusshiz — (entvidud shils ore foteqrated toiz a your; this colevive ‏موم‎ to inaovate bevowes suwethioy yoruier thad the suc OF its ports. 

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) ‏جوم او‎ Gustaited Corporate (utrepreacurshiz (Individual Comparison) (Firm Comparison) eet hl Aref oval shat ny, trary Oneness Citar Onell edna! Ravenel Daerah ol Ina HS) fy ODD PO 

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Corporce (Batrepreveurship ut 100 * ‏هه پمپ‎ Opporieiy (BOO) Progean’s Key Rules: - ‏بط را . . . بط لب(‎ — @rieg ta ‏.حا 09 جد‎ — Groat sul. — Gstbisk voique wecsurewed tevkuques. 

Corporate Entrepreneurship Professor Alexander Settles The Entrepreneurial Mindset in Organizations • Factors in the emergence of the entrepreneurial economy: – The rapid evolution of knowledge and technology promoted high-tech entrepreneurial start-ups. – Demographic trends adding fuel to the proliferation of newly developing ventures. – The venture capital market became an effective funding mechanism. – American industry began to learn how to manage entrepreneurship. Reengineering Corporate Thinking • Steps that will help innovative people to develop an entrepreneurial mindset: 1. Set explicit goals. 2. Create a system of feedback and positive reinforcement. 3. Emphasize individual responsibility. 4. Give rewards based on results. 5. Do not punish failures. Assessing Support for Innovation • Does the firm encourage entrepreneurial thinking? • Does the firm provide ways for innovators to stay with their ideas? • Are people permitted to do the job in their own way, or are they constantly stopping to explain their actions and ask for permission? • Has the firm evolved quick and informal ways to access the resources to try new ideas? • Has the firm developed ways to manage many small and experimental innovations? Assessing Support for Innovation (cont’d) • Is the system set up to encourage risk taking and to tolerate mistakes? • Are people in your company more concerned with new ideas or with defending their turf? • How easy is it to form functionally complete, autonomous teams in the firm’s corporate environment? Rules for an Innovative Environment 1. Encourage action. 2. Use informal meetings whenever possible. 3. Tolerate failure and use it as a learning experience. 4. Persist in getting an idea to market. 5. Reward innovation for innovation’s sake. 6. Plan the physical layout of the enterprise to encourage informal communication. 7. Expect clever bootlegging of ideas—secretly working on new ideas on company time as well as personal time. 8. Put people on small teams for future-oriented projects. 9. Encourage personnel to circumvent rigid procedures and bureaucratic red tape. 10. Reward and promote innovative personnel. Source: “Corporate Venturing Obstacles: Sources and Solutions,” by Hollister B. Sykes and Zenas Block, Journal of Business Venturing (winter 1989): 161. Copyright © 1989 by Elsevier Science Publishing Co., Inc. Encouraging an Intrapreneurial Environment • Steps to help restructure corporate thinking and encourage an intrapreneurial environment: 1. 2. 3. 4. 5. Early identification of potential intrapreneurs Top management sponsorship of intrapreneurial projects Creation of both diversity and order in strategic activities Promotion of intrapreneurship through experimentation Development of collaboration between intrapreneurial participants and the organization at large Benefits of an Entrepreneurial Philosophy • Leads to the development of new products and services and helps the organization expand and grow. • Creates a work force that can help the enterprise maintain its competitive posture. • Promotes a climate conducive to high achievers and helps the enterprise motivate and keep its best people. The Corporate Entrepreneurship Process Strategic Strategic Renewal Renewal Innovation Innovation Corporate Corporate Entrepreneurship Entrepreneurship Corporate Corporate Venturing Venturing The Nature of Corporate Entrepreneurship • Defining The Concept – Corporate Entrepreneurship • Activities that receive organizational sanction and resource commitments for the purpose of innovative results. – A process whereby an individual or a group of individuals, in association with an existing organization, creates a new organization or instigates renewal or innovation within the organization. – A process that can facilitate firms’ efforts to innovate constantly and cope effectively with the competitive realities that companies encounter when competing in international markets. Defining Corporate Entrepreneurship Source: Michael H. Morris, Donald F. Kuratko, and Jeffrey G. Covin, Corporate Entrepreneurship & Innovation (Mason, OH, Thomson), 2008, p. 81. The Need for Corporate Entrepreneuring • Rapid growth in the number of new and sophisticated competitors • Sense of distrust in the traditional methods of corporate management • An exodus of some of the best and brightest people from corporations to become small business entrepreneurs • International competition • Downsizing of major corporations • An overall desire to improve efficiency and productivity Table 3.2Sources of and Solutions to Obstacles in Corporate Venturing Traditional Management Practices Adverse Effects Recommended Actions Enforce standard procedures to avoid mistakes Innovative solutions blocked, funds misspent Make ground rules specific to each situation Manage resources for efficiency and ROI Competitive lead lost, low market penetration Focus effort on critical issues (e.g., market share) Control against plan Facts ignored that should replace assumptions Change plan to reflect new learning Plan for the long term Nonviable goals locked in, high failure costs Envision a goal, then set interim milestones, reassess after each Manage functionally Entrepreneur failure and/or venture failure Support entrepreneur with managerial and multidiscipline skills Avoid moves that risk the base business Missed opportunities Take small steps, build out from strengths Protect the base business at all costs Venturing dumped when base business is threatened Make venturing mainstream, take affordable risks Judge new steps from prior experience Wrong decisions about competition and markets Use learning strategies, test assumptions Compensate uniformly Low motivation and inefficient operations Balance risk and reward, employ special compensation Promote compatible individuals Loss of innovators Accommodate “boat rockers” and “doers” Source: “Corporate Venturing Obstacles: Sources and Solutions,” by Hollister B. Sykes and Zenas Block, Journal of Business Venturing (winter 1989): 161 Successful Innovative Companies • Factors in large corporations that are successful innovators: – Atmosphere and vision – Orientation to the market – Small, flat organizations – Multiple approaches – Interactive learning – Skunkworks Conceptualizing Corporate Entrepreneurship Strategy • Corporate Entrepreneurship Strategy – A vision-directed, organization-wide reliance on entrepreneurial behavior that purposefully and continuously rejuvenates the organization and shapes the scope of its operations through the recognition and exploitation of entrepreneurial opportunity. – It requires the creation of congruence between the entrepreneurial vision of the organization’s leaders and the entrepreneurial actions of those throughout the organization. Model of the Corporate Entrepreneurship Strategy Process • Corporate entrepreneurship strategy is manifested through the presence of three elements: – An entrepreneurial strategic vision – A proentrepreneurship organizational architecture – Entrepreneurial processes and behavior as exhibited across the organizational hierarchy. Model of the Corporate Entrepreneurship Strategy Process (cont’d) • Linkages in the model: 1. Individual entrepreneurial cognitions of the organization’s members 2. External environmental conditions that invite entrepreneurial activity 3. Top management’s entrepreneurial strategic vision for the firm 4. Organizational architectures that encourage entrepreneurial processes and behavior 5. The entrepreneurial processes that are reflected in entrepreneurial behavior 6. Organizational outcomes resulting from entrepreneurial actions. 3–17 An Integrative Model of Corporate Entrepreneurship Strategy Source: Duane Ireland, Jeffery G. Covin, and Donald F. Kuratko, “Conceptualizing Corporate Entrepreneurship Strategy,” Entrepreneurship Theory and Practice 33, no. 1 Conceptualizing a Corporate Entrepreneurial Strategy (cont’d) • Critical steps of a corporate entrepreneurial strategy: – Developing the vision – Encouraging innovation – Structuring for an intrapreneurial climate – Developing individual managers for corporate entrepreneurship – Developing venture teams. Shared Vision Source: Jon Arild Johannessen, “A Systematic Approach to the Problem of Rooting a Vision in the Basic Components of an Organization,” Entrepreneurship, Innovation, and Change (March 1994): 47. Types of Innovation • Radical Innovation – The launching of inaugural breakthroughs. – These innovations take experimentation and determined vision, which are not necessarily managed but must be recognized and nurtured. • Incremental Innovation – The systematic evolution of a product or service into newer or larger markets. – Many times the incremental innovation will take over after a radical innovation introduces a breakthrough. Objectives and Programs for Venture Development Objectives Programs Make sure that current systems, structures, and practices do not present insurmountable roadblocks to the flexibility and fast action needed for innovation. Reduce unnecessary bureaucracy, and encourage communication across departments and functions. Provide the incentives and tools for intrapreneurial projects. Use internal “venture capital” and special project budgets. (This money has been termed intracapital to signify a special fund for intrapreneurial projects.) Allow discretionary time for projects (sometimes referred to as “bootlegging” time). Seek synergies across business areas so new opportunities are discovered in new combinations. Encourage joint projects and ventures among divisions, departments, and companies. Allow and encourage employees to discuss and brainstorm new ideas. Source: “Supporting Innovation and Venture Development in Established Companies,” by Rosabeth Moss Kanter, Journal of Business Venturing (winter 1985): 56–59 Developing and Supporting Radical and Incremental Innovation Radical Incremental Stimulate through challenges and puzzles. Set systematic goals and deadlines. Remove budgetary and deadline constraints when possible. Stimulate through competitive pressures. Encourage technical education and exposure to customers. Encourage technical education and exposure to customers. Allow technical sharing and brainstorming sessions. Hold weekly meetings that include key management and marketing staff. Give personal attention—develop relationships of trust. Delegate more responsibility. Encourage praise from outside parties. Set clear financial rewards for meeting goals and deadlines. Have flexible funds for opportunities that arise. Reward with freedom and capital for new projects and interests. Source: Harry S. Dent, Jr., “Growth through New Product Development,” Small Business Reports (November 1990): 36. 3M’s Innovation Rules • Don’t kill a project • Tolerate failure • Keep divisions small • Motivate the champions • Stay close to the customer • Share the wealth Structuring for a Corporate Entrepreneurial Environment • Reestablishing the drive to innovate: – Invest heavily in entrepreneurial activities that allow new ideas to flourish in an innovative environment. – Provide nurturing and information-sharing activities. – Employee perception of an innovative environment is critical. • Corporate Venturing – Institutionalizing the process of embracing the goal of growth through development of innovative products, processes, and technologies with an emphasis on long-term prosperity. Intrapreneurial Development: Joint Function of Individual and Organizational Factors Source: Deborah V. Brazeal, “Organizing for Internally Developed Corporate Ventures,” Journal of Business Venturing (January 1993): 80. Preparing for Failure • “Learning from Failure” – Recognizing the importance of managing the grief process that occurs from project failure. – Understanding how organizational routines and rituals are likely to influence the grief recovery. – Ensuring that the organization’s social support system can encourage greater learning, foster motivational outcomes, and increase coping self-efficacy in affected individuals. Developing Individual Managers for Corporate Entrepreneurship • Corporate Entrepreneurship Training Program (Corporate Breakthrough Training) 1. The Breakthrough Experience 2. Breakthrough Thinking 3. Idea Acceleration Process 4. Barriers and Facilitators to Innovative Thinking 5. Sustaining Breakthrough Teams 6. The Breakthrough Plan Corporate Entrepreneurship Assessment Instrument (CEAI) • Key Internal Climate Factors in an Organization’s Readiness for Entrepreneurial Activity – Management support – Autonomy/work discretion – Rewards/reinforcement – Time availability – Internal organizational boundaries Facilitating Corporate Entrepreneurial Behavior • Organizations foster entrepreneurial behavior by: – – – – Encouraging—not mandating—innovative activity Human resource policies for “selected rotation” Committing to projects long enough for momentum to occur. Bet on people, not on analysis. • Rewarding Entrepreneuring: – – – Allow inventor to take charge of the new venture Grant discretionary time to work on future projects Make intracapital available for future research ideas Corporate Innovator’s Commandments 1. Come to work each day willing to give up your job for the innovation. 2. Circumvent any bureaucratic orders aimed at stopping your innovation. 3. Ignore your job description, do any job needed to make your innovation work. 4. Build a spirited innovation team that has the “fire” to make it happen. 5. Keep your innovation “underground” until it is prepared for demonstration to the corporate management. 6. Find a key upper level manager who believes in you and your ideas and will serve as a sponsor to your innovation. 7. Permission is rarely granted in organizations, thus always seek forgiveness for the “ignorance” of the rules that you will display. 8. Always be realistic about the ways to achieve the innovation goals. 9. Share the glory of the accomplishments with everyone on the team. 10. Convey the innovation’s vision through a strong venture plan. Sustaining Corporate Entrepreneurship • Sustained Corporate Entrepreneurship Model – Based on theoretical foundations from previous strategy and entrepreneurship research. – Considers the comparisons made at the individual and organizational level on organizational outcomes, both perceived and real, that influence the continuation of the entrepreneurial activity. – Transformational trigger • Something external or internal to the company that initiates the need for strategic adaptation or change. Developing Innovative (I) Teams • Innovative (I) Team – A semi-autonomous self-directing, self-managing, highperforming group of two or more people who formally create and share the ownership of a new organization. – The leader is called a “product champion” or an “corporate entrepreneur.” • Collective Entrepreneurship – Individual skills are integrated into a group; this collective capacity to innovate becomes something greater than the sum of its parts. A Model of Sustained Corporate Entrepreneurship Source: Donald F. Kuratko, Jeffrey S. Hornsby, and Michael G. Goldsby, “Sustaining Corporate Entrepreneurship: Modeling Perceived Implementation and Outcome Comparisons at Organizational and Individual Levels,” International Journal of Entrepreneurship and Innovation 5(2) (May 2004): 79. Corporate Entrepreneurship at IBM • Emerging Business Opportunity (EBO) Program’s Key Rules: – Think big . . . really big. – Bring in the A-team. – Start small. – Establish unique measurement techniques.