We think you have liked this presentation. If you wish to download it, please recommend it to your friends in any social system. Share buttons are a little bit lower. Thank you!
Presentation is loading. Please wait.
Published byCameron Nevers
Modified about 1 year ago
PowerPoint Presentation by Charlie Cook The University of West Alabama Strategic Management Competitiveness and Globalization: Concepts and Cases Michael A. Hitt R. Duane Ireland Robert E. Hoskisson Seventh edition S TRATEGIC A CTIONS: S TRATEGY I MPLEMENTATION © 2007 Thomson/South-Western. All rights reserved. CHAPTER 13 Strategic Entrepreneurship
© 2007 Thomson/South-Western. All rights reserved. 13–2 Strategic Entrepreneurship and Innovation Entrepreneurship is concerned with:Entrepreneurship is concerned with: The discovery of profitable opportunities The exploitation of profitable opportunities Firms that encourage entrepreneurship are:Firms that encourage entrepreneurship are: Risk takers. Committed to innovation. Proactive in creating opportunities rather than waiting to respond to opportunities created by others.
© 2007 Thomson/South-Western. All rights reserved. 13–3 Entrepreneurial Opportunities Entrepreneurial OpportunitiesEntrepreneurial Opportunities Conditions in which new products or services can satisfy a need in the market. Entrepreneurs or entrepreneurial managers must be able to:Entrepreneurs or entrepreneurial managers must be able to: Identify opportunities not perceived by others. Take actions to exploit the opportunities. Establish a competitive advantage.
© 2007 Thomson/South-Western. All rights reserved. 13–4 Innovation Process The act of creating or developing a new product or processThe act of creating or developing a new product or process Brings something new into being.Brings something new into being. Technical criteria are used to determine the success of an invention.Technical criteria are used to determine the success of an invention. Invention
© 2007 Thomson/South-Western. All rights reserved. 13–5 Innovation Process (cont’d) The process of creating a commercial product from an invention.The process of creating a commercial product from an invention. Brings something new into use.Brings something new into use. Commercial criteria are used to determine the success of an innovation.Commercial criteria are used to determine the success of an innovation. Invention Innovation
© 2007 Thomson/South-Western. All rights reserved. 13–6 Innovation Process (cont’d) The adoption of an innovation by similar firmsThe adoption of an innovation by similar firms Usually leads to product or process standardization.Usually leads to product or process standardization. Products based on imitation often are offered at lower prices but with fewer features.Products based on imitation often are offered at lower prices but with fewer features. Invention Innovation Imitation
© 2007 Thomson/South-Western. All rights reserved. 13–7 The Importance of Innovation InnovationInnovation Is a key outcome firms seek through entrepreneurship. Is often the source of competitive success. Corporate EntrepreneurshipCorporate Entrepreneurship Innovations produced in large established firms.
© 2007 Thomson/South-Western. All rights reserved. 13–8 Cooperative Strategies for Entrepreneurship and Innovation Cooperation and integration of knowledge and resources is required to successfully commercialize inventions.Cooperation and integration of knowledge and resources is required to successfully commercialize inventions. Entrepreneurial firms need investment capital and distribution capabilities. Established companies need the technological knowledge possessed by entrepreneurial firms. Firms innovate through the sharing their knowledge and skills in a cooperative relationship.Firms innovate through the sharing their knowledge and skills in a cooperative relationship.
© 2007 Thomson/South-Western. All rights reserved. 13–9 Acquisitions to Buy Innovation AcquisitionsAcquisitions Can rapidly extend the product line. Can quickly increase the firm’s revenues. Key risks of acquisitionsKey risks of acquisitions The firm may substitute the ability to buy innovations for an ability to produce innovations internally. The firm may lose intensity in R&D efforts. The firm may lose its ability to produce patents.
© 2007 Thomson/South-Western. All rights reserved. 13–10 Capital for Entrepreneurial Ventures Venture Capital FirmsVenture Capital Firms Seek high returns on their investment. Value the competence of the entrepreneur or the human capital in the firm. Place weight on the expected scope of competitive rivalry the firm is likely to experience. Evaluate the degree of instability in the market addressed.
© 2007 Thomson/South-Western. All rights reserved. 13–11 Capital for Entrepreneurial Ventures Initial Public Offerings (IPOs)Initial Public Offerings (IPOs) Are new stock priced to reflect the firm’s high potential. Often yield much larger equity investments than can be obtained from venture capitalists. Investment bankers frequently play major roles in the development and offering of IPOs. Firms that have previously received venture capital backing usually receive greater returns from IPOs.
© 2007 Thomson/South-Western. All rights reserved. 13–12 Creating Value through Strategic Entrepreneurship Be effective in identifying opportunities.Be effective in identifying opportunities. Be flexible and willing to take risks.Be flexible and willing to take risks. Have sufficient resources and capabilities to exploit identified opportunities.Have sufficient resources and capabilities to exploit identified opportunities. Sustain a competitive advantage while identifying and exploiting opportunities.Sustain a competitive advantage while identifying and exploiting opportunities. Develop an entrepreneurial mind-set among managers and employees.Develop an entrepreneurial mind-set among managers and employees. Seek to enter and compete in international markets.Seek to enter and compete in international markets.
PowerPoint Presentation by Charlie Cook The University of West Alabama Strategic Management Competitiveness and Globalization: Concepts and Cases Michael.
Copyright © 2005 by South-Western, a division of Thomson Learning All rights reserved 1 Chapter 5 Entrepreneurship.
1 Strategy Implementation Strategic Entrepreneurship Organizational Structure and Structure and Controls Corporate Governance Strategic Leadership Strategy.
PowerPoint slides by: R. Dennis Middlemist Colorado State University Copyright © 2004 South-Western All rights reserved. Chapter 1 Strategic Management.
6 chapter Student Version SUPPLEMENTING THE CHOSEN COMPETITIVE STRATEGY— OTHER IMPORTANT STRATEGY CHOICES McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill.
Chapter 7 McGraw-Hill/Irwin Copyright © 2011 by the McGraw-Hill Companies, Inc. All rights reserved.
PowerPoint Presentation by Charlie Cook The University of West Alabama Copyright © 2006 Thomson Business & Professional Publishing. All rights reserved.
Intensive Strategies and Diversification Strategies Mei Duan Jennifer.
Introduction to Strategic Management HCAD What is Strategy? Strategy is the overall plan for deploying resources to establish a favorable position.
Entrepreneurship Delivered in: Islamia University Bahawalpur Presented By: Tasawar Javed.
McGraw-Hill/Irwin Copyright © 2008, The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin Copyright © 2008 The McGraw-Hill Companies, Inc.
Exploring Corporate Strategy, Seventh Edition, © Pearson Education Ltd 2005 Exploring Corporate Strategy 7 th Edition Part II The Strategic Position.
Knowledge intensive companies, IC readiness and Seed Capital New and Improved Activities, Outreach and Support Programs on IP Financing WIPO Forum on intellectual.
Vertical Integration Copyright © 2008 Pearson Prentice Hall. All rights reserved. 6-1 Chapter 6.
E-Marketing, 3rd edition Judy Strauss, Adel I. El-Ansary, and Raymond Frost Chapter 2: Strategic E-Marketing © Prentice Hall 2003.
Building Competitive Advantage through Functional Level Strategy Chapter 4.
Managers and Managing McGraw-Hill/Irwin Contemporary Management, 5/e Copyright © 2008 The McGraw-Hill Companies, Inc. All rights reserved. chapter one.
McGraw-Hill/Irwin © 2004 The McGraw-Hill Companies, Inc., All Rights Reserved.
Purchasing and Supply Chain Management by W.C. Benton Chapter Two Purchasing Decisions And Business Strategy McGraw-Hill/IrwinCopyright © 2010 The McGraw-Hill.
By : Candra Wahyuni P Ery Ardono S Heru Agung P AP 14 MM UGM 2010.
1 EU Conference, Brussels June 12-13, 2006 Workshop 1B: Nurturing local and regional clusters: the role of public authorities Applying cluster concept.
3.01 DEVELOP MARKETING STRATEGIES TO GUIDE MARKETING TACTICS.
CONTEMPORARY MANAGEMENT (Lec:1) Asst. Prof. Management Science (USA), IMRAN HUSSAIN.
Role of IP in Benefiting from University-Industry Partnerships: Incubators and IP: International Perspective Istanbul, Turkey, January 10 and 11, 2005.
3 chapter Business Essentials, 7 th Edition Ebert/Griffin © 2009 Pearson Education, Inc. Entrepreneurship, New Ventures, and Business Ownership Instructor.
The Importance of Intellectual Property for Business Development and Growth Dr. Guriqbal Singh Jaiya Director Small and Medium-Sized Enterprises Division.
Copyright © 2005 Prentice Hall, Inc. All rights reserved.3–1 Planning Defined Defining the organizations objectives or goals Establishing an overall strategy.
© 2016 SlidePlayer.com Inc. All rights reserved.