VL4 Strategy & Entrepreneurship

Pregunta	Respuesta
What means Strategic Entrepreneurship?	- Advantage seeking behavior through efficient resource management - Opportunity seeking behavior through sensing and seizing of opportunities
Difference between Strategic Entrepreneurship and Corporate Venturing	CV: Companies need to involve in the creation of new business units SE: Refers to a broader array of entrepreneurial initiatives SE: Organizationally consequential innovations adopted in the pursuit of competitive advantage SE: Can happen anywhere in the organization
What means Organizational Ambidexterity?	Companies which are are capable of simultaneously exploiting existing competencies and explporing new opportunities. Balancing exploration and exploitation.
Exploitation	Refinement, implementation, efficiency, production. Continuously refined products and services. But: Risk of dynamic conservatism
Balance between Exploration and Exploitation related to R&D intensity on market	Low: Full exploitation, no exploration Medium: 75% exploitation, 25% exploration High: 25% exploitation, 75% exploration
5 Forms of Strategic Entrepreneurship	1. Strategic Renewal 2. Sustained Regeneration 3. Domain Redefinition 4. Organizational Rejuvenation 5. Business Model Reconstruction
Strategic Renewal	Redefine relationship with its market or competitors by fundamentally altering how it competes. Fundamental repositioning. Low frequency
Sustained Regeneration	Regularly and continuously introduces new products and services or enters new markets. Incremental innovations. Innovation machines (3M). High frequency
Domain Redefinition	Proactively creating new product-market arena that others may not recognized or actively exploit. Blue ocean strategy. Redefine boundaries of existing industries. Low frequency
Organizational Rejuvenation	Sustain or improve competitive standing by altering internal processes, structures, and capabilities. Internal operations. Focus on efficiency and effectiveness. Low to moderate frequency
Business Model Reconstruction	Redesign of core business model, what you do, value proposition. Low frequency
Average EO Profile	Medium level of EO is successfull. 10 years earlier was same level of entrepreneurship, but lower level of resource management.
What means entrepreneurial strategy?	Apply creativity and entrepreneurial thinking to the development of a core strategy for the company.
Disadvantages of CV and BS unrelated	Demotivating, lack of exploitation, obsolete strategy, ignoring the environment
Disadvantages of BS drives CV	Boundaries for innovation, kills creativity, risk of setting wrong guidelines
Disadvantage of CV drives BS	BS gets redefined by CV activities, lack of control, no exploitation, can get chaotic
CV and BS are reciprocally interdependent	BS gets redefined through emergent CV activities. BS specifies general directions for CV.
CV as the BS	Entrepreneurship as important firm value (3M). CV initiatives need to respond to the innovation imperatives of firm
Key tasks for entrepreneurial strategy	- Develop entrepreneurial vision - Increase perception of opportunity - Institutionalize change - Invest in people's ideas - Recognize the importance of failure

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	Creado por Christian Weibel hace más de 6 años