Corporate Entrepreneurship, benefits, examples, why?

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Dedicated to
You O Sai …

2. CORPORATE
ENTREPRENEURSH
IP
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3. CORPORATE ENTREPRENEURSHIP
– A process whereby an individual or a group of individuals, in
association with an existing organization, creates a new
organization or instigates renewal or innovation within the
organization.
– A process that can facilitate firms’ efforts to innovate
constantly and cope effectively with the competitive realities
that companies encounter when competing in international
markets.
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4. MISSION AND VISION
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Source: Google Images

5. THE NEED FOR CORPORATE
ENTREPRENEURSHIP
Rapid growth in the
number of competitors
An exodus of brightest
people from
corporations to become
small business
entrepreneurs
International
competition
Ease of expansion
An overall desire to
improve efficiency and
productivity
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6. BENEFITS OF AN
ENTREPRENEURIAL
PHILOSOPHY
Development
of new
products and
services.
Organization
Expansion
Creative
Workforce in
Dynamic
Environment
Promotes a
climate
conducive to
high
achievers.
Motivate and
retain
employees
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7. RULES FOR AN INNOVATIVE
ENVIRONMENT
 Encourage action.
 Use informal meetings whenever possible.
 Tolerate failure and use it as a learning experience.
 Persist in getting an idea to market.
 Reward innovation for innovation’s sake.
 Plan the physical layout of the enterprise to encourage informal
communication.
 Expect clever bootlegging of ideas—secretly working on new ideas on company
time as well as personal time.
 Put people on small teams for future-oriented projects.
 Encourage personnel to circumvent rigid procedures and bureaucratic red
tape.
 Reward and promote innovative personnel.
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8. CRITICAL STEPS OF A
CORPORATE ENTREPRENEURIAL
STRATEGY:
Developing the vision
Encouraging
innovation
Structuring for an
intrapreneurial
climate
Developing
individual managers
for corporate
entrepreneurship
Developing venture
teams.
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OBJECTIVES PROGRAMS
Make sure that current systems,
structures, and practices do not present
roadblocks to the flexibility and fast action
needed for innovation.
• Reduce unnecessary bureaucracy
• Encourage communication across
departments and functions.
Provide the incentives and tools for
intrapreneurial projects.
• Use internal “venture capital” and
special project budgets.(“intracapital”)
• Allow discretionary time for projects
(“bootlegging” time).
Seek synergies so new opportunities are
discovered in new combinations.
• Encourage joint projects and ventures
among divisions, departments, and
companies.
• Allow and encourage employees to
discuss and brainstorm new ideas.

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RADICAL INCREMENTAL
Stimulate through challenges and puzzles. Set systematic goals and deadlines.
Remove budgetary and deadline
constraints when possible.
Stimulate through competitive pressures.
Encourage technical education and
exposure
to customers.
Encourage technical education and
exposure
to customers.
Allow technical sharing and brainstorming
sessions.
Hold weekly meetings that include
key management and marketing staff.
Give personal attention—develop
relationships of trust.
Delegate more responsibility.
Encourage praise from outside parties.
Reward with freedom and capital for new
projects and interests.
Set clear financial rewards for meeting
goals
and deadlines.
Have flexible funds for opportunities that
arise.
Allocated Funds

11. CORPORATE INNOVATOR’S
COMMANDMENTS
1.Circumvent any bureaucratic orders aimed at stopping your innovation.
2.Ignore your job description.
3.Build a spirited innovation team that has the “fire” to make it happen.
4.Keep your innovation “underground” until it is prepared for demonstration to
the corporate management.
5.Find a key upper level manager who believes in you and your ideas and will
serve as a sponsor to your innovation.
6.Always be realistic about the ways to achieve the innovation goals.
7.Share the glory of the accomplishments with everyone on the team.
8.Convey the innovation’s vision through a strong venture plan.
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13. 1.Google - Gmail
 Google is a company that embraces intrapreneurship by
offering their workforce a 20 per cent timeframe on
developing personal projects relating to the business. One
such project from Paul Buchheit was the initial template for
Gmail, particularly the search function (the first of its kind
from email service providers) and increased storage capacity.
 Today, Gmail remains one of the most widely-used email
platforms on the web; driving key traffic to Google’s products.
And all thanks to the brainchild of one of their employees.
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14. 2. Sony
 It might be the best-selling console in the world today, but
Sony’s PlayStation only happened because a junior employee
tinkered with his daughter’s Nintendo.
 Ken Kutaragi spent hours trying to make the console more
powerful and user-friendly but his idea was reportedly
rebuffed by many Sony bosses – hesitant at joining a gaming
industry they considered a waste of time. One senior employee
spotted value in Kutaragi’s innovative product and the rest, as
they say, is history.
3. Facebook
 One of the most documented initiatives associated with the
rise of the social-networking behemoth has been its infamous
“hack-a-thons”; all-night competitions for coders and engineers
to develop an idea into a prototype.
 Facebook’s ‘Like’ button was born from the event, and has
since become synonymous with the brand.
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15. 4. Intel
 Known for investing in Silicon Valley entrepreneurs,
Intel decided to start investing in the ideas of its own
staff in 1998 with its "new business initiative."
 A year after its creation, more than 400 ideas were
pitched by employees – with over two dozen receiving
funding. One of its most successful ventures has been
the Vivonic Fitness Planner founded by former Intel
engineer Paul Scagnetti, which helped users meet
nutrition and exercise goals.
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