How corporate entrepeneurship differs - Entrepeneurial realities: understanding the process

8 important questions on How corporate entrepeneurship differs - Entrepeneurial realities: understanding the process

What are the key questions concerning oppurtinities

the source of the oppurtinity
the size of the oppurtinity
and the sustainibility of the oppurtinity

What are the characteristics of a good business concept?

it provides benefit to a user
it is unique and not easy to imitate
it is comprehensive
it is feasible and can be implemented
profitable

What are the resource requirements?

money
creative skills, or a patent
sponsorship from senior executive
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What is resource leveraging

to know how to borrow or share resources, use other people's resources or stretch resources. leveraging allows the entrepeneur to move concepts along the development path without major financial commitments, in the process lessening risk and increasing firm's flexibility

What is key at the stage of implementing and managing the concept?

tolerance of ambiguity on the one hand, and adaptibility on the other hand. and entrepeneur must be adept at overcoming both resistance and delibirate obstruction.

What is the 'fire fighting mentality'?

if very much internal problems occur, he loses track of critical developments both within the company and the marketplace

What is the danger of to much control?

they sometimes feel such total ownership of a concept that they become micromanagers, unwilling to properly delegate

Describe harvesting the venture?

harvesting is concerned with how returns will be realized , over what time period, and the manner in which the concept will eventually be aborbed by some other business entity, spun off, replaced, eliminated, or allowed to die a natural death

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