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Summary - Corporate entrepreneurship & innovation
The development application, and enhancement of new techonologies are occuring at a breathtaking pace.
Companies cannot be static, they must continually adjust, adapt and redifine themselves.
New management thinking
Can companies still be static?No, they must continually adapt, adjust and redifine themselves
What is new management thinking?Managers have to learn a whole new range of concepts and tools to keep up with the dynamic market
1.2 Turbulent enviroments and the embattled corporation
External enviroment is everyhting outside the company, including the competitive, the customer,
technoligical, economic and social
Internal enviroment includes the structures, systems and processes within a company
The embatted corporation exists of customers, technology, competitors and legal, regulatory and ethical standards.
The dramatic pace of technological change combined with the fragmentation of markets forces companies to develop more new products and to do so much faster.
In the final analysis, companies are experiencing a general lack of long-term control over their external enviroment.
Give examples of the external enviromentCompetitive, customer, technological, economic and social
Give examples of the internal enviromentStructures, systems and processes
Why is customers a part of the embattled organization?Rapidly rising customer expectations force companies to customize their products and communication approach, increasing costs
Why is technology a part of the embattled organization?Companies have to change the way they operate. including: new products, new customer management, new logistics management
Why is competitors a part of the embattled organization?Competitors lead customers to entirely new market spaces, forcing companies to spend greater amounts on product development.
Why is legal, regulatory and ethical standards a part of the embattled organization?Companies are increasingly accountable to multiple stakeholders and their actions are more visible to these stakeholders. Regulatory restrictions limit choices while forcing companies to learn new ways to compete
1.3 The new path to sustainable competitive advantages
turbulence in the external environment is causing a fundamental transformation in the internal operations. External change forces internal change.
there are no simple formulas for succes in the new competitive environment.
there is an important upside to external environments as they become more complex, dynamic and hostile. turbulance also means oppurtinity.
the bottom line is sustainable competitive advantage.
there are five key company capabilities:
adaptability, flexibility, speed, aggresiveness and innovativeness
good companies do not take external environmnent as given and instead define themselves as agents of change
What is turbulance causing?turbualance is causing a fundamental change in the internal operations of companies
is there a simple formula for succes?no
what is an important upside to external enviroments?it creates oppurtinity
what is real quest as a manager?creating a sustainable competitive advantage
what are the five key company capabilities?adaptibility, flexibility, speed, aggresiveness and innovativeness
1.4 What is entrepreneurship
what is entrepeneurship?the process of creating value by bringing togethere an unique combination of resources to exploit a oppurtinity
what are the four key elements?process, creating value, put resources in a unique way and oppurtinity driven
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