Nature of Corporate Entrepreneurship Chapter 2

Entrepreneurial Revolution Entrepreneurship Defined Entrepreneurial Myths Entrepreneurial Process Nature of Corporate

Entrepreneurship

Entrepreneurial Revolution

Drivers Results

Entrepreneurship

Definition Process of creating value by bringing

together a unique package of resources to exploit an opportunity

Key Components

Entrepreneurial Myths

Entrepreneurs are born, not made Entrepreneurship is about invention Entrepreneur profile All you need is luck to be an

entrepreneur Entrepreneurs are extreme risk-

takers (gamblers)

Entrepreneurial Myths (Continued)

Entrepreneurs are academic and social misfits

All entrepreneurs need is money Ignorance is bliss for entrepreneurs The high failure rate myth Entrepreneurship isunstructured

and chaotic

Entrepreneurial Process

Fundamental Elements Assessment Approach (Figure 2.1) Integrative Approach (Figure 2.2)

Nature of Corporate Entrepreneurship

Defining the Concept Three Models

Domain Model (Guth & Ginsberg) Interactive Model (Hornsby, et. al.) Strategic Integration Model (Covin &

Slevin)