Entrepreneurship & Intrapreneurship: What it takes to make it work.

Presented By Charudatta Khairnar(360) Satyajeet Rananavare(361) Vipul Kulkarni(355)

Entrepreneurship
The process of uncovering and developing an opportunity to create value through innovation and seizing that opportunity without regard to either resources (human and capital) or the location of the entrepreneurin a new or existing company (Churchill, 1992: 586).

Entrepreneurship Characteristics
Commercial leanings Lack of structure/self-control Visionary tendencies. Risk-taking/appetite for uncertainty Persistence Doer/high initiative Charisma and extroversion

Entrepreneurship Characteristics
High-energy level Strong self-image Team building skills/uses contacts and connections Views failure as learning Commitment and fun

Entrepreneurs vs. Managers

Reward System Doing what they like.Independence. Activity - Direct involvement. Risk - Moderate risk taker. Status - Not concerned about status symbols. Reward System Corporate rewards. Promotion, staff, office, money. Activity - Delegates and supervises. Risk - Avoids risk. Status - Concerned about status symbols.

Entrepreneurs vs. Managers

Mistakes - Deals and learns from them. Decisions - Follows dreams with decisions. Who serves - Customers and self. Relationships - Dealmaking and reciprocity. Time orientation - 5 - 10 years. Mistakes - Avoids or shifts blame. Decisions - Agrees with those above them. Who serves - Others. Relationships Hierarchy. Time orientation - Shortterm.

Intrapreneurship Characteristics
Understands the environment. Visionary and flexible. Creates management options. Encourages teamwork. Encourages open discussion. Builds a coalition of supporters. Persists.

Dimensions of Intrapreneurship
Dimension
New Ventures New Businesses

Definition
Creation of new autonomous or semiautonomous units or firms. Pursuit of and entering into new businesses related to current products or markets Creation of new products and services

Product/Service Innovativeness

Process Innovativeness

Innovations in production procedures and techniques

Dimensions of Intrapreneurship
Dimension Self-renewal Definition Strategy reformulation, reorganization and organizational change

Risk Taking

Proactiveness

Competing Aggressiveness

Possibility of loss related to quickness in taking bold actions and committing resources in the pursuit of new opportunities Top management orientation for pioneering and initiative taking Aggressive posturing towards competitors

Intrapreneurship Environment
New ideas encouraged Trial and error encouraged. Failure ok! Resources available and accessible Long time horizon Appropriate reward system Sponsors and champions available Support of top management

Entrepreneurs vs. Intrapreneurs

Employer Risks are higher Build all of themselves. Doesnt get support from the organization Employee Returns are not that much higher. Without any risk Selected by a corporate Hierarchy. Get Support from primary organization.

Critical Questions that need to be asked to create wealth generating activities.

Where and in what ways is change creating the potential for new rules and new space? What is the potential for revolution inherent in the things that are changing right now, or have already changed? What are the discontinuities we could exploit? What aspect of whats changing can we come to understand better than anyone else in our industry? Whats the deep dynamic that will make our new business concept oh-so-relevant right now? (Hamel, 2000)