Quản trị kinh doanh - Chapter 14: Entrepreneurship and intrapreneurship

Chapter 14: Entrepreneurship and Intrapreneurship4/8/2013Chapter 14: Entrepreneurship and IntrapreneurshipEntrepreneurshipThe Choice to Become and EntrepreneurJack of All TradesDifferences Across IndustriesImplications for Human Capital InvestmentSome EvidenceIntrapreneurshipInternal MarketsCreativity versus ControlRecruiting Motivating CreativitySpeed of Decision MakingReducing BureaucracyContinuous Improvement Summary4/8/2013Chapter 14 – Entrepreneurship and IntrapreneurshipAfter Today’s Lecture, you will be able to address the following questions:How is human capital different for the entrepreneur?When should an employee’s human capital resemble that of an entrepreneur?What is intrapreneurship vis-à-vis entrepreneurship?How can personnelists support intrapreneurship?4/8/2013 EntrepreneurshipDefined by Lazear & Gibbs as: Someone who combines ideas or people to create a greater wholeEntrepreneurs are faced with the difficult task of hiring individuals and convincing them to act like ownersTo the degree that this is not possible, the entrepreneur must dominate a broad range of specialized knowledgeQuestion: How does the entrepreneur deal with capacity limits (ref. above)?4/8/2013Specialization vs. Portfolio of SkillsLazear & Gibbs present model of market for broad skillsKey concept is the scaling parameter, λ, which can representThe entrepreneur’s lowest relative skill ORThe market for broad skillsCreativity in entrepreneurship is interpreted as the ability to coordinate people with differing skill setsImplicationsIndividuals with pronounced skills in one area are less likely to become entrepreneursSecond, the larger is , the more entrepreneurs we will have in particular sectorsHigher creativity leads to more entrepreneurs4/8/2013Managerial AttributesStudy (Stopford and Baden-Fuller)ProactivenessAspirations beyond current capabilityLearning capabilityTime orientationCapability to resolve dilemmasThis is one of themes of the chapter4/8/2013 IntrepreneurshipDefined (by extension of Lazear & Gibbs) as an intra-firm entrepreneurThis is an extension of the entrepreneur’s problem in that it goes beyond ownershipCall for use of market principles within the firm’s policiesAlso calls for firm to act as a customer of knowledge for competitive advantageSuggested approach – think BIG, take SMALL, concrete measures4/8/2013Chapter 14 – RecapEntrepreneurs typically embody broad skill sets to support business integrationEmployees in executive capacities may require the same skills diversification as entrepreneursIntrapreneurship attempts to create market mechanisms within the firm that resemble the success criteria that an entrepreneur might facePersonnelists supporting intrapreneurship:Take a strategic approachEmploying carefully developed mechanismsAssess frequently4/8/2013