• Interest in Corporate Entrepreneurship
            There is an interest in entrepreneurship within organizations.
                     •     An increasing  social interest in “doing your own thing.”
                     •     The entrepreneurial spirit is critical for innovation and grow.th
                     •     Hypercompetition forces focus on product, productivity, and costs.
            Developing corporate entrepreneurship, helps overcome 
            resistance to flexibility, growth, and diversification.
            Entrepreneurial endeavors consist of four key elements:
                     •     New business venturing.
                     •     Organizational innovativeness.
                     •     Self-renewal.
                     •     Proactiveness.
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  • Strategic Orientation and Commitment to 
          Opportunity
            Both entrepreneurship and strategy have important implications 
            for the performance of the firm.
            Strategic orientation are those factors that are inputs into the 
            formulation of the firm’s strategy.
                     •     Entrepreneurial management is driven by opportunity, not resources.
                     •     Resources do not constrain entrepreneurially managed firms.
            An entrepreneurial orientation toward opportunity allows firms 
            to rapidly pursue opportunities, seizing windows of opportunity.
                     •     In contrast, traditional firms emphasize the collecting and analyzing of 
                           information.
                     •     Sometimes missing the window of opportunity.
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  • Commitment of Resources and Control of 
          Resources
            An entrepreneurial orientation toward the commitment of 
            resources minimizes resources needed to pursue an opportunity.
                     •     Traditionally managed firms commit resources on a large scale.
            Entrepreneurially managed firms are less concerned about 
            ownership of resources than about access to others’ resources.
            In contrast, traditionally managed firms focus on the ownership 
            and accumulation of resources.
                     •     They believe they are self-contained if they control their resources.
                     •     They differ in their entrepreneurial orientation toward the control of 
                           resources.
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  • Management Structure and Reward 
          Philosophy
            An entrepreneurial orientation toward management structure is 
            organic with few layers and many communication channels.
            A traditionally managed firm’s structure is suited for internal 
            efficiencies of allocating controlled resources.
            Entrepreneurially managed firms focus on pursuing opportunity 
            representing new value for the firm, they have an 
            entrepreneurial philosophy towards rewards.
            Traditionally managed firms reward based on responsibilities. 
                     •     Determined by the amount of resources an employee controls.
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  • Growth Orientation and Entrepreneurial 
          Culture
            A firm with an entrepreneurial orientation toward growth has a 
            strong desire to expand the firm, rapidly.
                     •     Traditionally managed firms prefer growth to be slow and steady.
            Culture distinguishes entrepreneurially and traditionally 
            managed firms.
                     •     Entrepreneurial orientation toward culture encourages the generation 
                           of ideas, experimentation, and creative output.
                     •     A traditionally managed firm’s culture means employees first assess 
                           the resources it controls.
            Most firms fall somewhere between traditionally managed and 
            entrepreneurially managed.
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