Intrapreneurship and Entrepreneurial Culture
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Questions and Answers

What is the primary objective of fostering an entrepreneurial culture within an established organization?

  • To allocate resources more efficiently and reduce costs
  • To drive growth and competitive advantage through innovation and new business ventures (correct)
  • To promote a culture of conformity and uniformity
  • To reduce risk-taking and promote a culture of caution
  • What is the key characteristic of individuals who can quickly recover from the negative emotions generated by the failure of an entrepreneurial initiative?

  • They use a single process model of coping with negative emotions
  • They focus solely on restoration orientation
  • They use a dual process model of coping with negative emotions (correct)
  • They focus solely on loss orientation
  • What is an example of internal venture capital?

  • Partnering with an external venture capital firm
  • Allocating resources to a new department within the organization
  • Establishing internal venture capital funds, such as Xerox’s XTV, to invest in promising ideas and ventures within the organization (correct)
  • Establishing a new business venture outside the organization
  • What is the outcome of self-renewal in an organization?

    <p>Transforming the organization through the renewal of its key ideas</p> Signup and view all the answers

    What is the purpose of 'oscillating' in the dual process model of coping with negative emotions?

    <p>To shift back and forth between loss orientation and restoration orientation</p> Signup and view all the answers

    Study Notes

    Corporate Entrepreneurship

    • Encourages innovation, risk-taking, and development of new business ventures within an established organization.
    • Fosters an entrepreneurial culture to support the creation of new products, services, or businesses that drive growth and competitive advantage.

    Key Criteria for Corporate Entrepreneurship

    • Innovation and risk-taking: promotes a mindset of innovation and calculated risks.
    • Culture of entrepreneurship: instils an entrepreneurial culture to retain talented employees.
    • Resource allocation: significant resources (financial capital, expertise, infrastructure) are required.
    • Diversification and growth: diversifies business portfolio and explores new areas of growth.
    • Learning and adaptation: encourages experimentation of new ideas and ventures.

    Internal Venture Capital

    • Establishes internal venture capital funds (e.g., Xerox's XTV) to invest in promising ideas and ventures within the organization.

    Self-Renewal

    • Transforms organizations through the renewal of key ideas on which it is built.

    Coping with Failure

    • Individuals using a dual process model of coping with negative emotions or grief recovery can quickly recover from the negative emotions generated by the failure of an entrepreneurial initiative.
    • Dual process model requires "oscillating" between two alternate approaches to loss:
      • Loss orientation: focuses on the loss event to create an account of the failure.
      • Restoration orientation: distracts oneself from thinking about the failure and focuses energy on addressing other problems that have arisen as a result of failure.

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    Description

    Learn about promoting innovation, risk-taking, and entrepreneurship within an established organization to drive growth and competitive advantage. Discover how to foster a culture that supports new product, service, and business development.

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