1. (Entrepreneurial Intentions
ENTR 452, Chapter 2
(Entrepreneurial Intentions
and Corporate
Entrepreneurship)

2. ENTREPRENEURIAL INTENTIONS WITHIN EXISTING ORGANIZATIONS
Corporate entrepreneurship or “intrepreneurship” is becoming more common.
Top management must create an environment that encourages employees to think and act entrepreneurially.
Employees will realize that entrepreneurial action within the firm is both personally desirable and feasible.

3. MANAGERIAL VERSUS ENTREPRENEURIAL DECISION MAKING
Entrepreneurial management is distinct from traditional management in terms of:
Strategic orientation.
Commitment to opportunity.
Commitment of resources.
Control of resources.
Management structure.
Reward philosophy.
Growth orientation.
Entrepreneurial culture.

4. TABLE 2.3 - CHARACTERISTICS OF AN ENT’L ENVIRONMENT

5. TABLE 2.4 - LEADERSHIP CHARACTERISTICS OF A CORPORATE ENTREPRENEUR

6. STEPS TO ESTABLISHING CORPORATE ENTREPRENEURSHIP
Secure a commitment from all management levels
Identify, select, and train corporate entrepreneurs
Step 2:
Identify ideas/areas that interest top management
Identify amount of risk money available
Establish program expectations and target results
Establish time frame, volume, and profitability requirement
Establish mentor/sponsor system

7. STEPS TO ESTABLISHING CORPORATE ENTREPRENEURSHIP
Use technology to ensure organizational flexibility
Step 4:
Identify interested managers to train employees
Step 5:
Develop ways to get closer to the customers
Step 6:
Learn to be more productive with fewer resources

8. STEPS TO ESTABLISHING CORPORATE ENTREPRENEURSHIP
Establish a strong support structure for corporate entrepreneurship
Step 8:
Tie rewards to the performance of the entrepreneurial unit
Finally:
Evaluation system should be such that successful entrepreneurial units thrive and unsuccessful ones are eliminated

9. ESTABLISHING CORPORATE ENTREPRENEURSHIP IN THE ORGANIZATION
New ventures started within existing firms often perform worse than those started independently by entrepreneurs.
- hard to maintain long-term commitment
- lack of freedom to make decisions
- constrained environment
On average, independent start-ups become:
- Profitable twice as fast.
- End up twice as profitable.

10. HOW ENTREPRENEURS THINK
Learn from business failure
How entrepreneurs deal with loss and achieve emotional recovery is important
These can allow the entrepreneur to be motivated to try again and improve the next time they start a new venture.
Know that there is often oscillation between a loss orientation and a restoration orientation