LESSON 3
Hello fellows, hope you are following with the lessons and are enjoying it. Today, we are going to continue with another exiting lesson.
What is corporate entrepreneurship?- Researcher sharker A. Zahra observed that "corporate entrepreneurship may be formal or informal activities aimed at creating new business in established companies through product and process innovation and market development. These activities may take place
at the corporate, division (business), functional, or project levels, with the unifying objective of improving the company's competitive position and financial performance".
William D Guth and Ari Ginsberg have stressed that corporate entrepreneurship encompasses two major phenomena: A new creation within existing organizations and transformation of organizations through strategic renewal.
at the corporate, division (business), functional, or project levels, with the unifying objective of improving the company's competitive position and financial performance".
William D Guth and Ari Ginsberg have stressed that corporate entrepreneurship encompasses two major phenomena: A new creation within existing organizations and transformation of organizations through strategic renewal.
An example of a corporate entrepreneur is Ken Kutaragi. The turning point in Kutaragi's career came in 1990, when a partnership between Sony and Nintendo to create a new home-video-game system broke down. Many Sony executives wanted to give up on the home-gaming market. But Kutaragi insisted that Sony could develop its own system. He even threatened to leave Sony if it did not pursue his goal. In 1991, he won his battle: he was named project manager of a group that built a new game system, the PlayStation. The gaming console went on the market in December of 1994 and was a huge hit. It is the most popular video-game console in the world. By the end of the 1990s, it was so popular, it alone was generating 40 percent of Sony's profit.
Hi Every One
Here are some things we did in class days ago
ENTREPRENEUR
STRESS
ENTREPRENEURIAL
stress can be viewed as a function of discrepancies between a person’s
expectations and ability to meet demands, as well as discrepancies between the
individual’s expectations and personality.
LONELINESS
entrepreneurs usually are surrounded by others employees, customers,
accountants, and lawyers they often are isolated from people in whom they can
confide. Long hours at work prevent them from seeking the comfort and counsel
of friends and family members.
IMMERSION
IN BUSINESS most entrepreneurs are married to their business immersion in
business can mean they work long hours and have little time for civic
organizations, recreation, or further education.
PEOPLE PROBLEMS: Many
entrepreneurs’ experience frustration, disappointment, and aggravation in
their experiences with these people. Successful entrepreneurs are to some
extent perfectionists and know how they want things done; often they spend a
lot of time trying to get lackadaisical employees to meet their strict
performance standards. Frequently, because of irreconcilable conflict,
partnerships are dissolved.
(Kuratko 41)
NEED
TO ARCHIVE: Many entrepreneurs are never satisfied with their
work, no matter how well it is done. They seem to recognize the dangers (for
example, to their health) of unbridled ambition, but they have a difficult time
tempering their achievement need.
DEALING WITH STRESS
NETWORKING:
one way to relieve the loneliness of running a business is to share experiences
by networking with other business owners. The objectivity gained from hearing
about the triumphs and errors of others is itself therapeutic.
GETTING AWAY FROM IT ALL; the best antidote to
immersion in business, report many entrepreneurs, is a holiday. If vacation
days or weeks are limited by valid business constraints, short breaks still may
be possible. Such interludes allow a measure of self-renewal.
COMMUNICATING WITH EMPLOYEES;
Entrepreneurs are in close contact with employees and can readily assess the
concerns of their staffs. The personal touches often unavailable in large
corporations such as company-wide outings, flexible hours, and small loans to
tide workers over until payday are possible here. In such settings, employees
often are more productive than their counterparts in large organizations and
may experience less stress due to the personal touches that are applied.
PEOPLE PROBLEMS: Many
entrepreneurs’ experience frustration, disappointment, and aggravation in
their experiences with these people. Successful entrepreneurs are to some
extent perfectionists and know how they want things done; often they spend a
lot of time trying to get lackadaisical employees to meet their strict
performance standards. Frequently, because of irreconcilable conflict,
partnerships are dissolved.GETTING AWAY FROM IT ALL; the best antidote to
immersion in business, report many entrepreneurs, is a holiday. If vacation
days or weeks are limited by valid business constraints, short breaks still may
be possible. Such interludes allow a measure of self-renewal.COMMUNICATING WITH EMPLOYEES;
Entrepreneurs are in close contact with employees and can readily assess the
concerns of their staffs. The personal touches often unavailable in large
corporations such as company-wide outings, flexible hours, and small loans to
tide workers over until payday are possible here. In such settings, employees
often are more productive than their counterparts in large organizations and
may experience less stress due to the personal touches that are applied.
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