Intrapreneurship and Entrepreneurial Culture

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.

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.