Directions: Please answer the following questions using complete sentences. A mi

Question

Directions: Please answer the following questions using complete sentences. A minimum of one paragraph is required for each response. Each paragraph must be five to seven sentences in length. 1. In your own words, what is corporate entrepreneurship? 2. What are some of the corporate obstacles that must be overcome to establish a corporate entrepreneurial environment? 3. What are some of the innovative principles identified by James Brian Quinn that companies need to establish? 4. What are five useful rules for innovation? 5. Identify the four key elements on which managers should concentrate so as to develop a corporate entrepreneurship strategy. 6. Identify the five specific entrepreneurial climate factors that organizations need to address in structuring their environment. 7. Social enterprise can be classified into three distinct categories. Describe each category, and discuss the efforts of entrepreneurs to become more socially responsible. 8. In your own words, what is meant by the term ethics? 9. Describe the critical threat to our environment as a major challenge of social enterprise. 10. Ethics must be based more on a process than on a static code. What does this statement mean? Do you agree? Why or why not?

Explanation / Answer

1) Corporate entrepreneurship is often defined as a process that goes on inside an existing firm and that may lead to new business ventures, the development of new products, services or processes and the renewal of strategies and competitive postures.

Corporate Entrepreneurship has been recognized as a potentially viable means for promoting and sustaining organizational performance, renewal and corporate competitiveness over the past three decades.  The entrepreneurial activities help companies to develop new businesses that create revenue streams.  Corporate Entrepreneurship activities also enhance a company’s success by promoting product and process innovations. Corporate Entrepreneurship is embodying risk taking, pro-activeness and radical product innovations.

2) Intrapreneurship differs from entrepreneurship in that intrapreneurs constantly must overcome barriers and negotiate obstacles and have opportunities to work with greater financial, technological, and human resources offered by an established company. In contrast, entrepreneurs largely work independently and often lack the resources of large companies. People with entrepreneurial skills also may choose to work within a company because they value job security, would like to practice launching a new business inside a company before launching one outside, and wish to take advantage of a company's established marketing channels.

Companies benefit from intrapreneurship because it can function as a means of overcoming aspects of corporate bureaucracy that impede innovation, allowing companies to remain creative and hence competitive. Moreover, intrapreneurship can remedy the loss of challenging and rewarding jobs, which can lead to greater job satisfaction and productivity.

3) The author of this article, a leading management scholar, takes a different view. Large companies that understand the innovative process have an impressive record of developing new technologies and products. Drawing on a multiyear research project and many case studies, the author analyzes the managerial practices of successful large companies and outlines some common patterns in their approach to technological innovation. These big companies, like many successful small entrepreneurs, accept the essential chaos of development. They pay close attention to their user’ needs and desires, avoid detailed early technical or marketing plans, and allow entrepreneurial teams to pursue competing alternatives within a clearly conceived framework of goals and limits.

4)

As I talk with and read about various successful entrepreneurs in biotechnology and in IT/software companies , it occurred to me there are some successful “traits” that these companies had in common with mine that helped shape their success in driving innovation. So here, in no particular order, are what I see as the 5 rules for successful innovation in small companies:

5)

Key elements that should be included are:

6)

1) How Cultural Factors Influence Entrepreneurship:

2) How Political Environments Support or Suppress Entrepreneurship

The following are some of the ways in which the political environment influences entrepreneurship:

3) How Economic Factors Influence Entrepreneurship

The nature of the economy is a major factor that influences entrepreneurship.

4) Availability of Resources as a Major Factor that Affects Entrepreneurship

Critical factors that influence entrepreneurship include the availability of resources such as capital, human assets, raw materials, infrastructure, and utilities.

5) How Entrepreneurial Skill Sets and Psychological Orientation Affects Entrepreneurship

All other factors notwithstanding, the success of an entrepreneurial venture depends on the entrepreneur. The entrepreneur is the leader and driver of the venture, and requires the following skill-set and orientation for success:

7)

A social enterprise is an organization that applies commercial strategies to maximize improvements in human and environmental well-being—this may include maximizing social impact alongside profits for external shareholders.

Social enterprises can be structured as a for-profit or non-profit, and may take the form (depending in which country the entity exists and the legal forms available) of a co-operative, mutual organization, a disregarded entity, a social business, a benefit corporation, a community interest company or acharity organization.

They can also take more conventional structures. What differentiates social enterprises is that their social mission is as core to their success as any potential profit.

8) Ethics:

Ethics is defined as a moral philosophy or code of morals practiced by a person or group of people.

9) Environmental Threats:

The goals for a transition toward sustainability, as we set them out in Chapter 1, are to meet human needs over the next two generations while reducing hunger and poverty and preserving our environmental life support systems. The activities to approach this goal can only move ahead within the constraints set by resources and the environment. Many people have argued that, unless we make dramatic changes in our human enterprises, the development needed to meet future human needs risks damaging the life-support capabilities of the earth—which in turn would of course prevent society from meeting its goals.

Our object is not to predict what environmental damages might be caused by development at particular times and places—a largely futile activity for all but the most specific and immediate development plans.

10)

A DIFFERENT KIND OF ETHICS

Before we look at the details of a Personal Rational Ethic, let us summarize some the key points of this novel approach to ethics by highlighting some common misconception:

'Ethics is about social interaction only, not about individual behavior.' This fallacy assumes that we need principles to regulate society while it denies their importance in guiding the individual's life. Personal ethics is actually the more fundamental concept on which group ethics can be based.

'Ethics is about duty. Anything that we do selfishly is not, by definition, a moral act.' This unfortunate misunderstanding makes morality our foe, whereas it can, and should, actually be our friend. With rational, principled egoism, morality is self-motivated - it is our guide to a better life, health, happiness.

'Ethics is either absolute and rigid or subjective and relative.' Rational ethics is objective, personal, customizable, dynamic, flexible and open to new knowledge and insights.

ADVANTAGES:

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