The Entrepreneurial and Intrapreneurial Mind 2 Chapter The Entrepreneurial and Intrapreneurial Mind

Entrepreneurial Process Identify/Evaluate Opportunity Develop Business Plan Determine Resources Required Manage The Enterprise

Opportunity Analysis Market Need? Personal Observation Underlying Social Conditions Market Research Data Assess Competition- Patents? Where Money To Be Made

Decision Making Manager vs. Entrepreneur Domain- Administrative vs. Entrepreneurial Strategic Orientation Commitment to Opportunity Commitment of Resources Control of Resources Management Structure

“Intrapreneurship” Instilling Entrepreneurial Spirit Within An Existing Organization To Innovate And Grow.

Organizational Culture Corporate Climate/Reward System Favors Conservatism Follow Instructions, No Initiative Hierarchy Of Authority Intrapreneurial Develop Vision, Goals, & Plans Suggest, Try, Experiment Flat Organizational Structure- Networking & Teamwork

Cultural Norms/Values Corporate Intrapreneurial Fragmented Whole Instruction Vision Controlled In Control Outer-Directed Inner-Directed Alienation Responsibility “Chores” Enthusiasm/Motivation Defined Limits Space/Freedom Interference Trust Distrust Belief In People Expendable Expandable Limiting People Growing People

Interest In Intrapreneurship Rising Interest in “Doing Your Own Thing” Corporation Support To Retain Creative Employees Fund Startups Hypercompetition Corporate vs. Intrapreneurial Culture

Intrapreneurial Activities New Business Venturing Innovation Self-Renewal Proactive

Climate for Intrapreneurship Technology New Ideas Encouraged Trial/Error Encouraged Failure Allowed No Opportunity Parameters Resources Available & Accessible Multidiscipline Teams Long Time Horizon Volunteer Program Appropriate Reward System Sponsors/Champions Available Support of Top Management

Intrapreneurial Leaders Understand Environment Have Vision/Flexibility Create Management Options Encourage Teamwork Encourage Open Discussion Build Coalitions Persist

Establishing Intrapreneurship Commitment of Top Management Identify Ideas/Areas Interested In Supporting Use Technology For Flexibility Managers Share/Train Employees Get Closer to Customers Be More Productive With Less

Evaluating Intrapreneurship Proposals Competitive Threat Proprietary Technology Gross Margin Rate Of Return Corporate Fit Initial Investment Experienced Venture Champion Experience With Product/Service

Barriers To Intrapreneurship Inherent Nature of Large Organizations No Long-Term Commitment Lack Of Autonomy For Decision Making Lack of Intrapreneurial Talent Inappropriate Compensation Methods Constrained Environment