Corporate Entrepreneurship
How to Create a Thriving Entrepreneurial Spirit Throughout Your Company
By: Robert D. Hisrich, Claudine Kearney
Published: August 17, 2011
Format: Hardcover, 288 pages
ISBN-10: 0071763163
ISBN-13: 978-0071763165
Publisher: McGraw-Hill
"As organizations, industries, and consumers become more dynamic, corporate entrepreneurship becomes more important. While entrepreneurship has traditionally been defined as a private sector phenomenon, corporate and social entrepreneurship have developed in a number of different domains such as not-for-profits, for-profits, and public sector organizations", write Garvin Professor of Global Entrepreneurship and director of the Walker Center for Global Entrepreneurship at Thunderbird School of Global Management,Robert D.Hisrich; and visiting researcher in entrepreneurship at Thunderbird School of Global Management, Claudine Kearney, in their organizational changing and opportunity building book Corporate Entrepreneurship: How to Create a Thriving Entrepreneurial Spirit Throughout Your Company. The authors describe why corporate entrepreneurship is essential to developing an organization that is competitive in the ever evolving global marketplace, and provide strategies for creating an entrepreneurial culture in any organization, and how to identify and capitalize on market opportunities.
Robert Hisrich and Claudine Kearney recognize that when organizations and their employees fail to innovate, the company's competitive level declines very quickly. In today's hyper-competitive global economy, innovation is critical for company success. Failure to innovate will result in a business and its brands becoming irrelevant almost overnight. The authors offer the solution to the challenge of global competitiveness through their vision of corporate entrepreneurship. The authors point out that within every company, there are mavericks and creative individuals who thrive on innovation and finding creative solutions. Instead of isolating these innovative people, they should be encouraged to seek out fresh ideas and new markets for the resulting products and services.
Robert Hisrich (photo left) and Claudine Kearney understand that not every organization is prepared for corporate entrepreneurship so they provide a complete background to the concept and why it's so important. The authors demonstrate how to identify innovators within the organization, and share the techniques to develop a company culture of entrepreneurship. With the appropriate culture in place, the authors provide the strategies for uncovering and organizing the entrepreneurial venture. With the planning and organization developed, the authors offer the techniques for funding and implementing the venture successfully, along with ideas for compensating and rewarding the entrepreneurs and innovators within the company. The authors also share ideas for managing the internal politics of ventures and for building corporate venturing into the organizational DNA.
For me, the power of the book is how Robert D. Hisrich and Claudine Kearney combine the theory and reasons for establishing a culture of corporate entrepreneurship with the strategies and tools for implementing the resulting innovation effectively. The authors provide valuable insights into the importance of corporate entrepreneurship, and share the techniques for ensuring a successful transition to a venture oriented company. The authors offer a step by step plan for planning, executing, and evaluating an internal entrepreneurship initiative. The concepts are bolstered by real world examples of companies applying the corporate entrepreneurship successfully, and transforming their organizations into leaders in innovation.
I highly recommend the organizational culture building and idea filled book Corporate Entrepreneurship: How to Create a Thriving Entrepreneurial Spirit Throughout Your Company by Robert D. Hisrich and Claudine Kearney, to any business leaders who are seeking a revolutionary concept that will turn any organization into an innovative powerhouse. This book will help your organization thrive and prosper in the rapidly changing global marketplace.
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