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

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

    Uploaded by

    SoorajKrishnan
    36 views17 pages
    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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    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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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    36 views17 pages

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

    Uploaded by

    SoorajKrishnan
    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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    of 17

    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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