Entrepreneurial & Entrepreneurial & Intrapreneurial MindsIntrapreneurial Minds

Entrepreneurial ProcessEntrepreneurial Process

DefinitionDefinition Identify and Evaluate the OpportunityIdentify and Evaluate the Opportunity

Get informationGet information Length of opportunityLength of opportunity

Window of opportunityWindow of opportunity Real and perceived valueReal and perceived value Risks and returnsRisks and returns Personal goals and skills of entrepreneurPersonal goals and skills of entrepreneur UniquenessUniqueness Opportunity assessmentOpportunity assessment

Entrepreneurial ProcessEntrepreneurial Process

Develop Business PlanDevelop Business Plan Determine the Resources RequiredDetermine the Resources Required Manage the EnterpriseManage the Enterprise

Managerial v. Entrepreneurial Managerial v. Entrepreneurial Decision-makingDecision-making

Managerial styles= administrative Managerial styles= administrative domaindomain

Five areasFive areas Strategic orientationStrategic orientation Commitment to opportunityCommitment to opportunity Commitment to resourcesCommitment to resources Control of resourcesControl of resources Management structureManagement structure

Causes for Interest in Causes for Interest in IntrapreneurshipIntrapreneurship

Social aspectsSocial aspects CompetitionCompetition Four Key Elements of IntrapreneurshipFour Key Elements of Intrapreneurship

New business venturingNew business venturing Organizational innovativenessOrganizational innovativeness Self-renewalSelf-renewal ProactivenessProactiveness

Corporate Culture v. Corporate Culture v. Intrapreneurial CultureIntrapreneurial Culture

Corporate CulturesCorporate Cultures Reward conservative decision-makingReward conservative decision-making Wait for instructionsWait for instructions Don’t failDon’t fail Collect as much information as possible, or do not Collect as much information as possible, or do not

actact Intrapreneurial CultureIntrapreneurial Culture

Trial and errorTrial and error Reward for actionsReward for actions Encourage new ideas and actionsEncourage new ideas and actions

Climate for IntrapreneurshipClimate for Intrapreneurship

Operate on Technological FrontierOperate on Technological Frontier New IdeasNew Ideas Trial and ErrorTrial and Error Failures AllowedFailures Allowed Resources Available and AccessibleResources Available and Accessible Multidiscipline Teamwork ApproachMultidiscipline Teamwork Approach

Climate for IntrapreneurshipClimate for Intrapreneurship

Long-Term HorizonLong-Term Horizon Volunteer ProgramVolunteer Program Reward SystemReward System Sponsors and Champions AvailableSponsors and Champions Available Support of Top ManagementSupport of Top Management

Intrapreneurial Leadership Intrapreneurial Leadership CharacteristicsCharacteristics

Understands the EnvironmentUnderstands the Environment Is Visionary and FlexibleIs Visionary and Flexible Creates Management OptionsCreates Management Options Encourages TeamworkEncourages Teamwork Encourages Open DiscussionEncourages Open Discussion Builds a Coalition of SupportersBuilds a Coalition of Supporters PersistsPersists

Establishing Intrapreneurship Establishing Intrapreneurship in Organizationsin Organizations

Get Management CommitmentGet Management Commitment Identify Ideas and Areas of InterestIdentify Ideas and Areas of Interest Use Technology for FlexibilityUse Technology for Flexibility Train Employees with Interested Train Employees with Interested

ManagersManagers Develop Ways to Get Close to CustomerDevelop Ways to Get Close to Customer Be More Productive with Fewer Be More Productive with Fewer

ResourcesResources

Establishing Intrapreneurship Establishing Intrapreneurship in Organizationsin Organizations

Establish Strong Support StructureEstablish Strong Support Structure Tie Rewards to PerformanceTie Rewards to Performance Implement Evaluation SystemImplement Evaluation System

Problems and Benefits of Problems and Benefits of IntrapreneurshipIntrapreneurship

ProblemsProblems PerformancePerformance

BenefitsBenefits ResourcesResources

SuccessesSuccesses 3M, HP, IBM3M, HP, IBM