Corporate Entrepreneurship

Question 1

What is corporate entrepreneurship?

Answer 1

The process whereby an individual or a group in association with an existing organisation creates a new organisation or initiates renewal or innovation within that organisation

Question 2

Corporate Venturing

Answer 2

Development of a new business inside or at the property of an organisation

Question 3

Strategic Renewal

Answer 3

New combo of resources that result in significant changes to an organisations strategy or structure

Question 4

What are some reasons for corporate venturing?

Answer 4

Grow and diversify the business
Satisfy and retain bright and motivated staff
Exploit underused resources
To get rid of non core activities

Question 5

What are the steps involved in developing entrepreneurial spirit?

Answer 5

1. Develop vision & strategy
2. Create a culture of innovation
3. Develop organisational support
4. Reward according to results