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define corporate entrepreneurship
- the intention to engage in the creation of new products or processes and/or enter in to new markets
define entrepreneurial intentions
motivitational factors that influence individuals to pursue entrepreneurial outcomes
define entrepreneurial self-efficacy
conviction that one can successfully pursue entrepreneurial outcomes
define perceived desirability
degree to which a potential entrepreneurial outcome is evaluated as favorable or unfavorable
An individuals mental processes of overcoming ignorance to: 1. decide whether a signal represents an opportunity .. 2. decide whether that opportunity is applicable to the individual specifically... 3. Process feedback from action steps taken
How do successful entrepreneurs think?
- - think structurally
- - use existing resources in new combinations
- - effectuate (taking what you have and making something new)
- - cognitively adapt
- - learn from failures
What are the four corporate entrepreneurial activities and describe it?
- new business venturing - Creation of a new business within an existing organization
- innovation- Developing new products, services, and processes
- proactiveness- Initiative, risk-taking, competitive aggressiveness, and boldness
- Self-Renewal- Transformation of organization through renewal of foundational ideas
What are nine steps of process for establishing corporate entrepreneurship in the organization?
- 1. Committment/Culture
- 2. Plan & Organize
- 3. Technology
- 4. Training
- 5. Customer Focus
- 6. Resource Management
- 7. Support Structure
- 8. Rewards
- 9. Evaluation System
What type of individuals should you seek?
Seek individuals who can do things differently and better.
What are some leadership characteristics of an effective corporate entrepreneur?
- 1. understands the environment
- 2. is visionary and flexible
- 3. creates management options
- 4. encourages teamwork
- 5. encourages open discussion
- 6. builds a coalition of supporters
- 7. persists