corporate Entrepreneurship is, an example of an Intrapreneur, explaining the 5 factors that we
take into an account when developing corporate Entrepreneurship attitudes in the workplace,
and finally explaining the need for corporate Entrepreneurship.
WHAT IS ENTREPRENEURSHIP?
Entrepreneurship is an integrated concept that permeates an individual's business in
an innovative manner. It is the mind-set that has revolutionized the way business is conducted at
every level and in every country.
WHAT IS CORPORATE ENTREPRENEURSHIP?
Corporate Entrepreneurship is the process of PROFITABILITY and CREATING INNOVATION
within organizational centr.
EXAMPLE OF AN INTRAPRENEUR
Digital Light Processing Technology
Intrapreneur: Larry Hornbeck
Company: Texas Instruments
Year Launched: 1996
TI researcher Larry Hornbeck had been tinkering for a decade with technology using tiny mirrors to redirect photons when his team developed the Digital Micromirror Device in 1987. DMD initially was used to print out airline tickets, but the government’s Defense Advanced Research Projects Agency initiated research in high-definition video and awarded TI and other manufacturers a multi-million dollar contract to work on the issue. TI execs started an internal venture called the Digital Imaging Venture Project and tapped Hornbeck to lead it. At the time, video projectors weighed 40 to 50 pounds and cost $15,000 to $18,000. Hornbeck realized DMD technology could greatly shrink the size and cost of a digital projector. Digital Light Processing quickly became an industry standard, dominating the market in projectors less than five pounds. The technology also has revolutionized the movie theater business and allowed Texas Instruments to compete in the HDTV market. Hornbeck received an Emmy for Outstanding Achievement in Engineering Development in 1998.
THE 5 FACTORS TO TAKE INTO AN ACCOUNT WHEN DEVELOPING CORPORATE
ENTREPRENEURSHIP ATTITUDES IN THE WORK PLACE. (Kuratko, Donald. Introduction to Entrepreneurship, 8th Edition. Cengage Learning UK, 3/14/09. p. 68).
2. Autonomy/Work Discretion: Workers have discretion to the extent that they are able to make decisions about performing their own work in the way they believe is most effective. Organizations should allow employees to make decisions about their work process and should avoid criticizing them for making mistakes when innovating.
3. Rewards/Reinforcement: Rewards and reinforcement enhance the motivation of individuals to engage in innovative behavior. Organizations must be characterized by providing rewards contingent on performance, providing challenges, increasing responsibilities, and making the ideas of innovative people known to others in the organizational hierarchy.
4. Time Availability: The fostering of new and innovative ideas requires that individuals have time to incubate these ideas.
5. Organizational Boundaries: These boundaries, real and imagined, prevent people from looking at problems outside their own jobs. People must be encouraged to look at the organization from a broad perspective.
WHAT'S THE NEED FOR CORPORATE ENTREPRENEURSHIP?
THEY ARE.......
1. Many competitors, sophisticated, more money invested.
2. A sense of distrust in the traditional methods of corporate management.
3. Many of the best and brightest people have corporations to become small
business entrepreneurs.
4. International competition (Baze University).
5. Downsizing of major corporations (General Motors).
6. An overall desire to improve efficiency and productivity.
7. More profits.
8. Improve their standard of living.
9. Recognition of the business name.
If you have more questions, contact me @: Chibunze.uzo@aun.edu.ng
