Strategic Management Management Competitiveness and Globalization: Concepts and Cases

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Strategic Management Management Competitiveness and Globalization: Concepts and Cases"

Transcription

1 STRATEGIC ACTIONS: STRATEGY IMPLEMENTATION PowerPoint Presentation by Charlie Cook The University of West Alabama 2007 Thomson/South-Western. All rights reserved. CHAPTER 13 Entrepreneurship Strategic Management Management of Strategy Competitiveness and Globalization: Concepts and Cases Concepts and Cases Seventh edition Michael A. Hitt R. Duane Ireland Robert E. Hoskisson

2 KNOWLEDGE OBJECTIVES Studying this chapter should provide you with the strategic management knowledge needed to: 1. Define strategic entrepreneurship and corporate entrepreneurship. 2. Define entrepreneurship and entrepreneurial opportunities and explain their importance. 3. Define invention, innovation, and imitation and describe the relationship among them. 4. Describe entrepreneurs and the entrepreneurial mind- set. 5. Explain international entrepreneurship and its importance Thomson/South-Western. All rights reserved. 13 2

3 KNOWLEDGE OBJECTIVES (cont d) Studying this chapter should provide you with the strategic management knowledge needed to: 6. Describe how firms internally develop innovations. 7. Explain how firms use cooperative strategies to innovate. 8. Describe how firms use acquisitions as a means of innovation. 9. Explain how strategic entrepreneurship helps firms create value Thomson/South-Western. All rights reserved. 13 3

4 Strategic Entrepreneurship Strategic Entrepreneurship Taking entrepreneurial actions using a strategic perspective. Engaging in simultaneous opportunity seeking and competitive advantage seeking behaviors. Designing and implementing entrepreneurial strategies to create wealth. Strategic entrepreneurship actions can be taken by: Individuals Corporations 2007 Thomson/South-Western. All rights reserved. 13 4

5 Strategic Entrepreneurship and Innovation Entrepreneurship is concerned with: The discovery of profitable opportunities The exploitation of profitable opportunities Firms that encourage entrepreneurship are: Risk takers. Committed to innovation. Proactive in creating opportunities rather than waiting to respond to opportunities created by others Thomson/South-Western. All rights reserved. 13 5

6 Entrepreneurial Opportunities Entrepreneurial Opportunities Conditions in which new products or services can satisfy a need in the market. Entrepreneurs or entrepreneurial managers must be able to: Identify opportunities not perceived by others. Take actions to exploit the opportunities. Establish a competitive advantage Thomson/South-Western. All rights reserved. 13 6

7 Innovation Process Invention The act of creating or developing a new product or process Brings something new into being. Technical criteria are used to determine the success of an invention Thomson/South-Western. All rights reserved. 13 7

8 Innovation Process (cont d) Invention Innovation The process of creating a commercial product from an invention. Brings something new into use. Commercial criteria are used to determine the success of an innovation Thomson/South-Western. All rights reserved. 13 8

9 Innovation Process (cont d) Invention Innovation Imitation The adoption of an innovation by similar firms Usually leads to product or process standardization. Products based on imitation often are offered at lower prices but with fewer features Thomson/South-Western. All rights reserved. 13 9

10 The Importance of Innovation Innovation Is a key outcome firms seek through entrepreneurship. Is often the source of competitive success. Corporate Entrepreneurship Innovations produced in large established firms Thomson/South-Western. All rights reserved

11 Entrepreneurs Entrepreneurs Individuals acting independently or as part of an organization who create a new venture or develop an innovation, take risks entering innovations into the marketplace. Can be any manager or employee in an organization. Entrepreneurial capabilities include: Intellectual capital Entrepreneurial mind-set Transfer of entrepreneurial competence to others Effective human capital 2007 Thomson/South-Western. All rights reserved

12 International Entrepreneurship Entrepreneurship can: Fuel economic growth Create employment Generate prosperity for citizens There is a strong positive relationship between the rate of entrepreneurial activity and economic development in a nation Thomson/South-Western. All rights reserved

13 International Entrepreneurship (cont d) There must be a balance (in the culture) between Individual initiative and The spirit of cooperation and group ownership of innovation. Successful entrepreneurial firms: Provide appropriate autonomy. Offer incentives for individual initiative. Promote cooperation and group ownership of an innovation Thomson/South-Western. All rights reserved

14 Incremental and Radical Innovation Incremental Innovation Is the usual case for innovation in organizations. Provides small increments in current product lines. Improves existing knowledge and processes. Can create value. Radical Innovation Is rare because of difficulty and risk. Provides significant technological breakthroughs. Creates new knowledge and processes. Can create value Thomson/South-Western. All rights reserved

15 FIGURE 13.1 Model of Internal Corporate Venturing Source: Adapted from R. A. Burgelman, 1983, A model of the interactions of strategic behavior, corporate context, and the concept of strategy, Academy of Management Review, 8: Thomson/South-Western. All rights reserved

16 Internal Corporate Venturing The set of activities used to create inventions and innovations through internal means. R&D spending is linked to success in internal corporate venturing. Product Champion An organizational member with an entrepreneurial vision of a new good or service who seeks to create support for the vision s s commercialization Thomson/South-Western. All rights reserved

17 Internal Corporate Venturing (cont d) A A bottom-up process in which product champions: Pursue new ideas, often through a political process. Develop and coordinate the commercialization of a new good or service until it achieves success in the marketplace. Forms of internal corporate venturing: Autonomous strategic behavior Induced strategic behavior 2007 Thomson/South-Western. All rights reserved

18 Venturing: Strategic Behaviors Autonomous Strategic Behavior Based on a firm s s knowledge and resources that are the sources of the firm s s innovation. AA firm s s technological capabilities and competencies are its basis for new products and processes. Induced Strategic Behavior AA top-down process whereby the firm s s current strategy and structure foster product innovations. The strategy in place is filtered through a matching structural hierarchy Thomson/South-Western. All rights reserved

19 Implementing New Product Development and Internal Ventures To be innovative and develop internal ventures requires: An entrepreneurial mindset Risk propensity An emphasis on execution Individuals with an entrepreneurial mindset Engage the energies of everyone in their domain both inside and outside the organization Thomson/South-Western. All rights reserved

20 Cross Functional Product Development Teams Cross-functional Product Development Team Facilitate integration of activities associated with different organizational functions. Design, manufacturing, marketing, etc. New product development processes can be completed more quickly. Products can be more easily commercialized when cross- functional teams work effectively Thomson/South-Western. All rights reserved

21 Cross Functional Product Development Teams Cross-functional Product Development Team Product development stages are grouped into parallel or overlapping processes, allowing the firm to tailor its product development efforts Unique core competencies Needs of the market 2007 Thomson/South-Western. All rights reserved

22 Barriers to Cross-Functional Teams Effectiveness Different orientations and perceptions Individuals from separate functions have different orientations on issues. Create differing approaches to product development activities. Organizational Politics Cause aggressive competition for resources among different organizational functions. Organizations must achieve cross-functional integration with minimal political conflict Thomson/South-Western. All rights reserved

23 Facilitating Integration and Innovation Shared Values Are framed around the firm s s strategic intent and mission. Become the glue that promotes integration between functional units. Effective Leadership Sets goals and allocates resources Goals include integrated development and commercialization of new goods and services Effective Communication 2007 Thomson/South-Western. All rights reserved

24 FIGURE 13.2 Creating Value through Internal Innovation Processes 2007 Thomson/South-Western. All rights reserved

25 Cooperative Strategies for Entrepreneurship and Innovation 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 Thomson/South-Western. All rights reserved

26 Acquisitions to Buy Innovation Acquisitions Can rapidly extend the product line. Can quickly increase the firm s s revenues. Key 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 Thomson/South-Western. All rights reserved

27 Capital for Entrepreneurial Ventures Venture 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 Thomson/South-Western. All rights reserved

28 Capital for Entrepreneurial Ventures Initial Public Offerings (IPOs) Are new stock priced to reflect the firm s 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 Thomson/South-Western. All rights reserved

29 Creating Value through Strategic Entrepreneurship Be effective in identifying opportunities. Be flexible and willing to take risks. Have sufficient resources and capabilities to exploit identified opportunities. Sustain a competitive advantage while identifying and exploiting opportunities. Develop an entrepreneurial mind-set among managers and employees. Seek to enter and compete in international markets Thomson/South-Western. All rights reserved

Chapter 02 Entrepreneurial Intentions and Corporate Entrepreneurship

Chapter 02 Entrepreneurial Intentions and Corporate Entrepreneurship Chapter 02 Entrepreneurial Intentions and Corporate Entrepreneurship True / False Questions 1. (p. 33) Robert Mondavi Winery was the first Californian to produce and market premium wines that were expected

More information

CPET 575 Management Of Technology

CPET 575 Management Of Technology CPET 575 Management Of Technology Part Three Enactment of Technology Strategy Developing A Firm s Innovative Capabilities References: 1. Robert A. Burgelman, Clayton M. Christensen, and Steven C. Wheelwright,

More information

8/31/09. Understanding economic resources and economic systems is essential to lessening economic problems.

8/31/09. Understanding economic resources and economic systems is essential to lessening economic problems. Chapter 2 Economic Resources and Systems pp. 18-33 Back to Table of Contents Introduction to Business, Economic Resources and Systems Slide 2 of 64 Understanding economic resources and economic systems

More information

PART 2 Starting from Scratch or Joining an Existing Business

PART 2 Starting from Scratch or Joining an Existing Business Getting Started PART 2 Starting from Scratch or Joining an Existing Business PowerPoint Presentation by Charlie Cook, The University of West Alabama 2010 Cengage Learning. All Rights Reserved. May not

More information

5/6/2013 THE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND WHAT IS ENTREPRENEURSHIP ENTREPRENEUR THE ENTREPRENEURIAL PROCESS

5/6/2013 THE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND WHAT IS ENTREPRENEURSHIP ENTREPRENEUR THE ENTREPRENEURIAL PROCESS THE ENTREPRENEURIAL AND INTRAPRENEURIAL MIND WHAT IS ENTREPRENEURSHIP Entrepreneurship is all about identifying a business opportunity which other may see as Chaos. By Srinath Dissanayake Email: neelacksha911@gmail.com

More information

Business-Level Strategy

Business-Level Strategy 1 Chapter 4 Business-Level An integrated and coordinated set of commitments and actions the firm uses to gain a competitive advantage by exploiting core competencies in specific product markets PowerPoint

More information

Entrepreneurship Pacing Guide Time Frame Topic Competency/Essential Knowledge Unit Formative Assessments

Entrepreneurship Pacing Guide Time Frame Topic Competency/Essential Knowledge Unit Formative Assessments Entrepreneurship Pacing Guide Time Frame Topic Competency/Essential Knowledge Unit Formative Assessments 3 Weeks Entrepreneurs and Entrepreneurial Opportunities What is entrepreneurship? Who are entrepreneurs?

More information

EMBA Class of 2017 Course Descriptions

EMBA Class of 2017 Course Descriptions EMBA Class of 2017 Course Descriptions Fall Semester 2015: August December Strategic Vision & Analysis 1.5 Credit Hours This course sets the stage for an integrative EMBA experience by providing students

More information

Strategy Formulation: Functional Strategy. and Strategic Choice. Functional Strategy. Functional Strategy. Functional Strategy. Functional Strategy

Strategy Formulation: Functional Strategy. and Strategic Choice. Functional Strategy. Functional Strategy. Functional Strategy. Functional Strategy STRATEGIC BUSINESS UNIT Strategy Formulation: and Strategic Choice FINANCE R&D MARKETING PRODUCTION INVENTORY /SALES PURCHASING Production Manager Product Design Models Production Run Produce to: STRATEGIC

More information

MIDTERM EXAMINATION. Fall MGT602- Entrepreneurship

MIDTERM EXAMINATION. Fall MGT602- Entrepreneurship MIDTERM EXAMINATION Fall 2009 MGT602- Entrepreneurship Question No: 1 Being one s own boss is a need of: > Independence > Achievement > Affiliation > Authority Question No: 2 With a commercial history

More information

Information Management - The Science of Solving Problems

Information Management - The Science of Solving Problems international Journal of Information Management (1989), 9 (237-243) Information Management - The Science of Solving Problems A. PICOT As information becomes an increasingly important production factor,

More information

CONTRIBUTION OF INNOVATION STRATEGIES TO ENTREPRENEURIAL COMPETITIVENESS

CONTRIBUTION OF INNOVATION STRATEGIES TO ENTREPRENEURIAL COMPETITIVENESS MARIJAN CINGULA 1, ROZANA VESELICA 2 CONTRIBUTION OF INNOVATION STRATEGIES TO ENTREPRENEURIAL COMPETITIVENESS Abstract: This paper focuses on the theoretical approach to innovation and innovation strategies.

More information

Business and Management Review Vol. 1(5) pp , July, 2011 ISSN: Available online at

Business and Management Review Vol. 1(5) pp , July, 2011 ISSN: Available online at CORPORATE ENTREPRENEURSHIP ENGAGEMENT IN CORPORATE ORGANISATIONS IN MALAYSIA Selvamalar Ayadurai CB Consultancy & Training, Petaling Jaya, Malaysia Email: drmalar@cbconsultancy.com.my ABSTRACT A study

More information

Master of Business Administration Course Descriptions

Master of Business Administration Course Descriptions Master of Business Administration Course Descriptions CORE COURSES MBAB 5P01 Accounting for Decision-Making I The functional basics of accounting for management and business decisions. Data collection,

More information

Corporate Culture and Change Management

Corporate Culture and Change Management Corporate Culture and Change Management Business Policy Please note that these slides are not intended as a substitute to reading the recommended text for this course. 0 Objectives Understand the importance

More information

Training Session on Innovation Strategy Summary of the Training Session in Brussels on 8 th July 2008

Training Session on Innovation Strategy Summary of the Training Session in Brussels on 8 th July 2008 Training Session on Innovation Strategy Summary of the Training Session in Brussels on 8 th July 2008 1 Introduction to innovation strategy Innovation is taken to mean the development and marketing of

More information

THE AGILE MBA SUBJECT GUIDE. THE AIB AGILE MBA Version 3.0

THE AGILE MBA SUBJECT GUIDE. THE AIB AGILE MBA Version 3.0 THE AGILE MBA SUBJECT GUIDE THE AIB AGILE MBA Version 3.0 SUBJECTS AND FOCUS AREAS COMPLETE ALL 7 CORE SUBJECTS Corporate Governance Financial Management Leadership Marketing Management Operations Management

More information

Innovat a ion is t is he a e b a ility y to se s e e e ch c an a ge e as a a s n a opport r unity, n ot a t a hre r a e t a

Innovat a ion is t is he a e b a ility y to se s e e e ch c an a ge e as a a s n a opport r unity, n ot a t a hre r a e t a Innovation is the ability to see change as an opportunity, not a threat A financial services company One-stop investment solutions provider Founded in 2004 by Mr. Gajendra Nagpal and Mr. Ram M. Gupta The

More information

THIRD EDITION. Theory in Practice OXFORD UNIVERSITY PRESS SOUTHERN AFRICA

THIRD EDITION. Theory in Practice OXFORD UNIVERSITY PRESS SOUTHERN AFRICA THIRD EDITION Theory in Practice OXFORD UNIVERSITY PRESS SOUTHERN AFRICA Contents Acknowledgements Dedication Preface PARTI Pre start-up phase: opportunity recognition and e... 1.1 Introduction 1.2 Entrepreneurship

More information

Factors that Lead to Economic Growth

Factors that Lead to Economic Growth Factors that Lead to Economic Growth E.Q: What are the 4 factors of production and how does it affect the GDP? DEFINING FACTORS OF PRODUCTION Factors of production are resources used to produce goods and

More information

The 8 Best Practices of successful multi-generational Families

The 8 Best Practices of successful multi-generational Families The 8 Best Practices of successful multi-generational Families Successful multi-generational families are just as concerned with the quality of their relationships with other family members as they are

More information

Entrepreneurial Business Development Program 98,9% % =? 68% PROSPECTUS CERTIFIED BY SOUTHERN BUSINESS SCHOOL

Entrepreneurial Business Development Program 98,9% % =? 68% PROSPECTUS CERTIFIED BY SOUTHERN BUSINESS SCHOOL Entrepreneurial Business Development Program 9,9% 24. 60 23.30 + 16.0% =? 56. 90 6% PROSPECTUS 2015 2016 93. 60 CERTIFIED BY SOUTHERN BUSINESS SCHOOL 567 234 900 TABLE OF CONTENTS PROGRAM OVERVIEW Pg 1

More information

Content Specification Outline

Content Specification Outline Content Specification Outline Copyright 2017 Institute of Certified Management Accountants Updated 8/25/17 Institute of Certified Management Accountants Content Specification Outline Certified in Strategy

More information

1/16/2009. Chapter Sixteen. Learning Objectives. The Nature of Motivation. Managing Employee Motivation and Performance

1/16/2009. Chapter Sixteen. Learning Objectives. The Nature of Motivation. Managing Employee Motivation and Performance Chapter Sixteen Managing Employee Motivation and Performance Slide content created by Charlie Cook, The University of West Alabama Copyright Houghton Mifflin Company. All rights reserved. Learning Objectives

More information

TOPIC 1B: DETERMINANTS AND THEORIES OF FOREIGN DIRECT INVESTMENT (FDI)

TOPIC 1B: DETERMINANTS AND THEORIES OF FOREIGN DIRECT INVESTMENT (FDI) TOPIC 1B: DETERMINANTS AND THEORIES OF FOREIGN DIRECT INVESTMENT (FDI) 1. FDI is a feature of a broader economic phenomenon referred to as internationalization. 2. Internationalization relates to the organization

More information

Macro. Economic Political Socio-cultural Demographic Natural Physical international

Macro. Economic Political Socio-cultural Demographic Natural Physical international External Environment Concept of Environment: UNIT II COMPETITIVE ADVANTAGE Environment literally means the surroundings, external objects, influences or circumstances under which someone or something exists.

More information

ENVIRONMENT FACTORS TO ACHIEVE STRATEGIC OBJECTIVES IN COMPANIES

ENVIRONMENT FACTORS TO ACHIEVE STRATEGIC OBJECTIVES IN COMPANIES Bulletin of the Transilvania University of Braşov Vol. 3 (52) - 2010 Series V: Economic Sciences ENVIRONMENT FACTORS TO ACHIEVE STRATEGIC OBJECTIVES IN COMPANIES Lucian GUGA 1 Abstract: Strategic management

More information

BREAKTHROUGH CHARTER SCHOOLS CHIEF FINANCIAL OFFICER JOB DESCRIPTION

BREAKTHROUGH CHARTER SCHOOLS CHIEF FINANCIAL OFFICER JOB DESCRIPTION BREAKTHROUGH CHARTER SCHOOLS CHIEF FINANCIAL OFFICER JOB DESCRIPTION THE BREAKTHROUGH NETWORK Breakthrough Charter Schools ( Breakthrough ) is a nationally recognized network of high-performing, free,

More information

STRATEGIC MARKETING ANALYSIS Case: DNA Plc

STRATEGIC MARKETING ANALYSIS Case: DNA Plc Nina Lehtinen STRATEGIC MARKETING ANALYSIS Case: DNA Plc Bachelor s thesis Business management 2017 Author (authors) Degree Time Nina Lehtinen Title Strategic Marketing Analysis Commissioned by DNA Plc

More information

Part 2 Strategic Actions: Strategy Formulation 96

Part 2 Strategic Actions: Strategy Formulation 96 Michael A. Hitt Management of strategy Concepts and cases Part 1 Strategic Management Inputs 1 CHAPTER 1 Strategic Management 2 CHAPTER 2 Analysis of the External Environment 32 CHAPTER 3 Analysis of the

More information

Project Management Framework

Project Management Framework Project Management Framework Study Notes PMI, PMP, CAPM, PMBOK, PM Network and the PMI Registered Education Provider logo are registered marks of the Project Management Institute, Inc. Points to Note Please

More information

Effect of risk taking and competitive aggressiveness on the organizational performance of commercial state corporations

Effect of risk taking and competitive aggressiveness on the organizational performance of commercial state corporations Prime Journal of Business Administration and Management (BAM) ISSN: 2251-1261. Vol. 5(1), pp. 1737-1741, January 20 th, 2015 www.primejournal.org/bam Prime Journals Full Length Research Paper Effect of

More information

Strategic Leadership and Innovation in High Technology Firms

Strategic Leadership and Innovation in High Technology Firms University of Miami Scholarly Repository Management Faculty Articles and Papers Management 1-1-2009 Strategic Leadership and Innovation in High Technology Firms Terri A. Scandura PhD University of Miami,

More information

Ross School of Business at the University of Michigan Independent Study Project Report

Ross School of Business at the University of Michigan Independent Study Project Report Ross School of Business at the University of Michigan Independent Study Project Report TERM : Fall 1997 COURSE : OB 750 PROFESSOR : Noel Tichy STUDENT : Renee Robinson TITLE : Motivating growth : a step-by-step

More information

Strategic Management & the Entrepreneur

Strategic Management & the Entrepreneur Strategic Management & the Entrepreneur Essentials of Entrepreneurship & Small Business Management (section 2: Building the Business Plan: Beginning Considerations) Tomas W. Zimmerer & Norman M. Scarborough

More information

Entrepreneurship and venture evaluation. Designing a new business (1): the business model. Prof. Antonio Renzi

Entrepreneurship and venture evaluation. Designing a new business (1): the business model. Prof. Antonio Renzi Entrepreneurship and venture evaluation Designing a new business (1): the business model Prof. Antonio Renzi Agenda 1. Entrepreneurial opportunities and business planning 2. An introduction to business

More information

2-1 McGraw-Hill/Irwin. Copyright 2007 by The McGraw-Hill Companies, Inc. All rights reserved.

2-1 McGraw-Hill/Irwin. Copyright 2007 by The McGraw-Hill Companies, Inc. All rights reserved. 2-1 McGraw-Hill/Irwin Copyright 2007 by The McGraw-Hill Companies, Inc. All rights reserved. 2 hapter Competing with Information Technology How can a business use IT to compete? Competitive strategies

More information

Ottawa 4.0: Creating Global Market Advantage for Regional Impact. January 16 th, 2017

Ottawa 4.0: Creating Global Market Advantage for Regional Impact. January 16 th, 2017 Ottawa 4.0: Creating Global Market Advantage for Regional Impact January 16 th, 2017 THE CHALLENGE SEIZING UNPRECEDENTED OPPORTUNITY Our Sectors Life Sciences Software Digital Media Communications Technology

More information

The effects of bureaucracy over the business environment from Romania

The effects of bureaucracy over the business environment from Romania Theoretical and Applied Economics Volume XXI (2014), No. 2(591), pp. 115-125 The effects of bureaucracy over the business environment from Romania Laurențiu Gabriel FRÂNCU Bucharest University of Economic

More information

Tools To use with the Learning Plan Methodology. Business Implications of Emerging Technologies

Tools To use with the Learning Plan Methodology. Business Implications of Emerging Technologies Tools To use with the Learning Plan Methodology Business Implications of Emerging Technologies 2.4 Use a Learning Plan The Learning Plan Template Learning Approach: T M R O As of (Date) Status: What is

More information

Strategies in Action. Chapter Five

Strategies in Action. Chapter Five Strategies in Action Chapter Five Chapter Objectives 1. Discuss the value of establishing long-term objectives. 2. Identify 16 types of business strategies. 3. Identify numerous examples of organizations

More information

Contents. Part 1: THE TOOL5 Or 5TRATEQIC AMALY5I5. Chapter 1: What Is Strategy and the Strategic Management Process? 2

Contents. Part 1: THE TOOL5 Or 5TRATEQIC AMALY5I5. Chapter 1: What Is Strategy and the Strategic Management Process? 2 Contents Part 1: THE TOOL5 Or 5TRATEQIC AMALY5I5 Chapter 1: What Is Strategy and the Strategic Management Process? 2 Opening Case: What Has Napster Wrought? 2 Strategy and the Strategic Management Process

More information

Chapter 3 Political and Economic Analysis

Chapter 3 Political and Economic Analysis Graphic Organizer Answer Key Section 3.1 What Is an Economy? Graphic Organizer Answer Directions In this diagram, record similarities and differences among market and command economies. Market Economy

More information

Technology & Strategy Technology and Strategy

Technology & Strategy Technology and Strategy Technology and Strategy Strategic management in high-tech 21 April 2009 Questions arising from the 4 th Paper? Questions about your projects? Who will win in smartphones and why will they win? What do

More information

Entrepreneurs are people that notice opportunities and take the initiative to mobilize resources to make new goods and services.

Entrepreneurs are people that notice opportunities and take the initiative to mobilize resources to make new goods and services. ENTREPRENEURSHIP Entrepreneurs Entrepreneurs are people that notice opportunities and take the initiative to mobilize resources to make new goods and services. In Contrast Intrapreneurs also notice opportunities

More information

Curriculum Standard One: The students will understand common economic terms and concepts and economic reasoning.

Curriculum Standard One: The students will understand common economic terms and concepts and economic reasoning. Curriculum Standard One: The students will understand common economic terms and concepts and economic reasoning. *1. The students will examine the causal relationship between scarcity and the need for

More information

ROLE OF LEADERSHIP IN STRATEGIC PLANNING. Erbil 2016

ROLE OF LEADERSHIP IN STRATEGIC PLANNING. Erbil 2016 ROLE OF LEADERSHIP IN STRATEGIC PLANNING Erbil 2016 STRATEGIC PLANNING Road to vision Vision Current status 2 STRATEGIC PLANNING Where do we want to be? Drafting strategic plan where are we now? Implementation

More information

Twenty Questions You Will Be Asked By Venture Capitalists (If You Get That Far) Abbreviated Version

Twenty Questions You Will Be Asked By Venture Capitalists (If You Get That Far) Abbreviated Version Twenty Questions You Will Be Asked By Venture Capitalists (If You Get That Far) Abbreviated Version By Laurence K. Hayward 2009 VentureLab, Inc. All rights reserved. www.theventurelab.com Preview: The

More information

MBA Curriculum Program Schedule

MBA Curriculum Program Schedule MBA Curriculum Program Schedule Click on Course Title to see Course Description Accounting ACCT 600 1 st Semester Finance FIN 620 Leadership & Ethics BUAD 625 Information Technology & Supply Chain INSS

More information

Getting to Culture Strategies for Creating a Culture of Assessment

Getting to Culture Strategies for Creating a Culture of Assessment Getting to Culture Strategies for Creating a Culture of Assessment Samantha McClellan Maurini Strub University of Louisville DEFINITION culture /ˈkʌltʃər/ POST PROCESS REFLECTION PRIMING THE CANVAS CHANGE

More information

Exploring the World of Business and Economics

Exploring the World of Business and Economics Chapter 1 Exploring the World of Business and Economics 1 Discuss what you must do to be successful in the world of business. 2 Define business and identify potential risks and rewards. 3 Define economics

More information

EDUCATION NEEDS OF EXTENSION OFFICERS IN LIMPOPO PROVINCE, SOUTH AFRICA

EDUCATION NEEDS OF EXTENSION OFFICERS IN LIMPOPO PROVINCE, SOUTH AFRICA EDUCATION NEEDS OF EXTENSION OFFICERS IN LIMPOPO PROVINCE, SOUTH AFRICA Thomas B. Murphy Extension Educator 542 County Farm Rd Suite 206 The Pennsylvania State University Montoursville, PA 17754 Phone:

More information

Chapter 1 What Is Economics?

Chapter 1 What Is Economics? Chapter 1 What Is Economics? CHAPTER INTRODUCTION SECTION 1 Scarcity and the Science Scarcity and the Science of Economics SECTION 2 Concepts Basic Economic SECTION 3 Economic Choices and Economic Choices

More information

2, 1 EE CONOMIC SYSTEMS

2, 1 EE CONOMIC SYSTEMS 2, 1 For use with textbook pages 31 38 EE CONOMIC SYSTEMS KEY TERMS economic system The way in which a nation uses its resources to satisfy its people s needs and wants (page 31) traditional economy A

More information

The importance of the right reporting, analytics and information delivery

The importance of the right reporting, analytics and information delivery The importance of the right reporting, and information delivery Prepared by: Michael Faloney, Director, RSM US LLP michael.faloney@rsmus.com, +1 804 281 6805 Introduction This is the second of a three-part

More information

- Scarcity leads to tradeoffs - Normative statements=opinion - Positive statement=fact with evidence - An economic model is tested by comparing its

- Scarcity leads to tradeoffs - Normative statements=opinion - Positive statement=fact with evidence - An economic model is tested by comparing its Macroeconomics Final Notes: CHAPTER 1: What is economics? We want more than we can get. Our inability to satisfy all of our wants is called scarcity. All resources are finite even if they are abundant.

More information

Explaining corporate entrepreneurship: A contemporary literature investigation

Explaining corporate entrepreneurship: A contemporary literature investigation Explaining corporate entrepreneurship: A contemporary literature investigation ABSTRACT Michael G. Brizek South Carolina State University The paper focuses on the Corporate Entrepreneurship nature identification

More information

DAVID ADLER & ASSOCIATES

DAVID ADLER & ASSOCIATES DAVID ADLER & ASSOCIATES WHO WE ARE WHAT WE DO HOW WE DIFFER DAVID ADLER & ASSOCIATES WHO WE ARE David Adler & Associates is a boutique law firm that counsels executives on strategic, tactical and operational

More information

LEADERSHIP. Emergency Preparedness Leadership Training Series

LEADERSHIP. Emergency Preparedness Leadership Training Series LEADERSHIP Emergency Preparedness Leadership Training Series Series Schedule Dates: April 1, 2015, Noon to 1 p.m. (PT) 2:00 p.m. to 3:00 p.m. (CT) Introductory webinar. Overview of successful leadership

More information

Marketing*Fundamentals!

Marketing*Fundamentals! Marketing*Fundamentals! Topic 1 - Introduction to Marketing Fundamentals Marketing* Marketing is a social & managerial process by which individuals & groups obtain what they need and want through creating,

More information

Chapter 2: The Project Management and Information Technology Context

Chapter 2: The Project Management and Information Technology Context Chapter 2: The Project Management and Information Technology Context TRUE/FALSE 1. Many of the theories and concepts of project management are difficult to understand. F PTS: 1 REF: 44 2. If project managers

More information

GLOSSARY OF TERMS ENTREPRENEURSHIP AND BUSINESS INNOVATION

GLOSSARY OF TERMS ENTREPRENEURSHIP AND BUSINESS INNOVATION Accounts Payable - short term debts incurred as the result of day-to-day operations. Accounts Receivable - monies due to your enterprise as the result of day-to-day operations. Accrual Based Accounting

More information

CE.11 The student will demonstrate knowledge of how economic decisions are made in the marketplace by

CE.11 The student will demonstrate knowledge of how economic decisions are made in the marketplace by Objectives CE.11 The student will demonstrate knowledge of how economic decisions are made in the marketplace by a) applying the concepts of scarcity, resources, choice, opportunity cost, price, incentives,

More information

Managing in the Global Environment

Managing in the Global Environment Chapter Six What Is the Global Environment? Managing in the Global Environment Global Environment Set of forces and conditions in the world outside the organization s boundaries that affect the way it

More information

LECTURE 4 ENTREPRENEUR VS PROFESSIONAL MANAGERS

LECTURE 4 ENTREPRENEUR VS PROFESSIONAL MANAGERS LECTURE 4 ENTREPRENEUR VS PROFESSIONAL MANAGERS Introduction Entrepreneurs and professional managers are the two sides of the coin. Their individual itineraries will make the difference between success

More information

Reducing Anxiety of Succession Planning: A Focus on Strategic Planning, Governance, and Continuity. June 18, 2014

Reducing Anxiety of Succession Planning: A Focus on Strategic Planning, Governance, and Continuity. June 18, 2014 1 Reducing Anxiety of Succession Planning: A Focus on Strategic Planning, Governance, and Continuity 1 June 18, 2014 2 Reducing Anxiety of Succession Planning: A Focus on Strategic Planning, Governance,

More information

Small Business, Entrepreneurship, and Franchises

Small Business, Entrepreneurship, and Franchises Small Business, Entrepreneurship, and Franchises Ahmad Yamin www.freeuniversitybd.weebly.com Chapter 5-1 The Small Business Independently owned and operated Not dominant in its field Relatively small annual

More information

Innovation and Change South-Western College Publishing Cincinnati, Ohio Daft, Organizational Theory and Design, 7/e

Innovation and Change South-Western College Publishing Cincinnati, Ohio Daft, Organizational Theory and Design, 7/e Chapter Eight Innovation and Change 2001 South-Western College Publishing Cincinnati, Ohio Daft, Organizational Theory and Design, 7/e Forces Driving the Need for Major Organizational Change Global Changes,

More information

Creating Vision and Strategic Direction

Creating Vision and Strategic Direction Chapter 13 Creating Vision and Strategic Direction 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

More information

EFG INTERNATIONAL CORPORATE SOCIAL RESPONSIBILITY

EFG INTERNATIONAL CORPORATE SOCIAL RESPONSIBILITY EFG INTERNATIONAL CORPORATE SOCIAL RESPONSIBILITY CODE OF CONDUCT Practitioners of the craft of private banking EFG INTERNATIONAL CORPORATE SOCIAL RESPONSIBILITY CODE OF CONDUCT 1 OUR BUSINESS ETHICS EFG

More information

Family Governance. Maintaining Family Connectivity, Collaboration, and Continuity. In This White Paper: Prepared by: Introduction 1

Family Governance. Maintaining Family Connectivity, Collaboration, and Continuity. In This White Paper: Prepared by: Introduction 1 Governance Maintaining Connectivity, Collaboration, and Continuity Prepared by: Michael C. Morrone Associate Director, Relationship Management Patricia M. Armstrong Managing Director, Dynamics In This

More information

The Backward-Bending Supply Curve of Gender Specific Work Ethics In Emerging Third World Countries

The Backward-Bending Supply Curve of Gender Specific Work Ethics In Emerging Third World Countries The Backward-Bending Supply Curve of Gender Specific Work Ethics In Emerging Third World Countries Professor Katherine Ann Stucky Notre Dame University, Lebanon ABSTRACT Most of the previous analyses on

More information

[BOOK SUMMARY] the crises, how it was tackled and necessary actions to address such was discussed.

[BOOK SUMMARY] the crises, how it was tackled and necessary actions to address such was discussed. Steven Cohen, William Eimicke, and Tanya Heikkila Summary The book focuses on the current challenges of public managers in the twenty first century and the new tools available to meet those challenges.

More information

Roadmapping Continuous Innovation

Roadmapping Continuous Innovation Roadmapping Continuous Innovation by Joseph M. Stopper Innovation occurs when an enterprise creates or transfers economic value. Adding new value is the strongest form of innovation, while transferring

More information

How you know when you have a world-class IP strategy

How you know when you have a world-class IP strategy 11 How you know when you have a world-class IP strategy It is all very well having an IP strategy but ensuring it has a real commercial impact is another matter. There are, though, steps you can take to

More information

Standard CE.11a Economic Concepts

Standard CE.11a Economic Concepts Standard CE.11a Economic Concepts 1. Scarcity is the inability to satisfy all wants at the same time. All resources and goods are limited. This requires that choices be made. 2. Resources are factors of

More information

FACTOR ANALYSIS OF ORGANIZATIONAL ENTREPRENEURSHIP BARRIERS IN TECHNICAL SERVICES AND ADVISORY ENTERPRISES IN DARREHSHAHR TOWNSHIP, IRAN

FACTOR ANALYSIS OF ORGANIZATIONAL ENTREPRENEURSHIP BARRIERS IN TECHNICAL SERVICES AND ADVISORY ENTERPRISES IN DARREHSHAHR TOWNSHIP, IRAN FACTOR ANALYSIS OF ORGANIZATIONAL ENTREPRENEURSHIP BARRIERS IN TECHNICAL SERVICES AND ADVISORY ENTERPRISES IN DARREHSHAHR TOWNSHIP, IRAN Keihan Niazi and *Ahmad Reza Ommani Department of Agricultural Extension

More information

Business Organization and Management/Entrepreneurship Curriculum Maps

Business Organization and Management/Entrepreneurship Curriculum Maps Business Organization and Management/Entrepreneurship Curriculum Maps Unit 1: Should You Become an Entrepreneur? Unit 2: What Skills Do Entrepreneurs Need? Unit 3: Entrepreneurs in a Market Economy Unit

More information

Entrepreneurial Management. In the City. Just-in-Time Learning Series. Entrepreneurial Management

Entrepreneurial Management. In the City. Just-in-Time Learning Series. Entrepreneurial Management In the City Today s Agenda Leadership in Action What You Will Learn Awareness management factors and resources for managing tasks, people, and self Knowledge Urban Extension management competencies Ability

More information

Innovation Trends and Levers

Innovation Trends and Levers Innovation Trends and Levers Eindhoven, September 2006 Dr. Iris Ginzburg Global Leader, Innovation Management Practice IBM Research, ginzburg@il.ibm.com Agenda Introduction Innovation trends Innovation

More information

Supplier Guide Book. Collaborate, perform, grow together

Supplier Guide Book. Collaborate, perform, grow together Supplier Guide Book Collaborate, perform, grow together Message from our Chief Purchasing Officer Dear Supplier, DK Singh CPO Schneider Electric We are pleased to publish the Schneider Electric Supplier

More information

The Ins and Outs of Purchasing for the New Buyer. Chris Cady Manager of Supply Chain & Facilities Aiken Electric Cooperative, SC

The Ins and Outs of Purchasing for the New Buyer. Chris Cady Manager of Supply Chain & Facilities Aiken Electric Cooperative, SC The Ins and Outs of Purchasing for the New Buyer Chris Cady Manager of Supply Chain & Facilities Aiken Electric Cooperative, SC Use of, or plagiarism of, any website, article, professional organization,

More information

Chapter 3 INFORMATION SYSTEMS, ORGANIZATIONS, AND STRATEGY. Management Information Systems MANAGING THE DIGITAL FIRM, 12 TH EDITION

Chapter 3 INFORMATION SYSTEMS, ORGANIZATIONS, AND STRATEGY. Management Information Systems MANAGING THE DIGITAL FIRM, 12 TH EDITION MANAGING THE DIGITAL FIRM, 12 TH EDITION Chapter 3 INFORMATION SYSTEMS, ORGANIZATIONS, VIDEO CASES Case 1: National Basketball Association: Competing on Global Delivery With Akamai OS Streaming Case 2:

More information

Review of the Small Business Research Initiative (SBRI)

Review of the Small Business Research Initiative (SBRI) Review of the Small Business Research Initiative (SBRI) Department of Business, Energy and Industrial Strategy Submission from the Royal Academy of Engineering February 2017 About the Royal Academy of

More information

Version 1.0. The Contract Management Standard Final Edition. Version 1.0

Version 1.0. The Contract Management Standard Final Edition. Version 1.0 The Management Standard Final Edition 1 Purpose of the Management Standard The purpose of the Management Standard is to describe the nature of contract management in terms of the contract management processes

More information

AN ANALYSIS OF COMPETITIVE ADVANTAGE BASED ON INTELLECTUAL CAPITAL, SOCIAL CAPITAL AND STRATEGIC ENTREPRENEURSHIP AMONG STUDENT ENTREPRENEURS

AN ANALYSIS OF COMPETITIVE ADVANTAGE BASED ON INTELLECTUAL CAPITAL, SOCIAL CAPITAL AND STRATEGIC ENTREPRENEURSHIP AMONG STUDENT ENTREPRENEURS International Journal of Economics, Commerce and Management United Kingdom Vol. II, Issue 12, Dec 2014 http://ijecm.co.uk/ ISSN 2348 0386 AN ANALYSIS OF COMPETITIVE ADVANTAGE BASED ON INTELLECTUAL CAPITAL,

More information

Ed.D. in Organizational Leadership Core Leadership Understandings. Program Competencies

Ed.D. in Organizational Leadership Core Leadership Understandings. Program Competencies Ed.D. in Organizational Leadership Core Leadership Understandings Program Competencies Some thoughts regarding the core leadership understandings follow: The competencies listed for each core leadership

More information

GLOSSARY FOR BUSINESS DEVELOPMENT

GLOSSARY FOR BUSINESS DEVELOPMENT GLOSSARY FOR BUSINESS DEVELOPMENT CONTACT: growth@eibeconsulting.com eibeconsulting.com + 45 27 10 21 52 A MARKET ORIENTED PERSPECTIVE A ABSORPTIVE CAPACITY is a firm s capability to recognize the value

More information

Business Exit Strategies

Business Exit Strategies Business Exit Strategies Lecturer: Dr. Samuel C.K. Buame, UGBS Contact Information: skbuame@ug.edu.gh College of Education School of Continuing and Distance Education 2016/2017 2017/2018 godsonug.wordpress.com/blog

More information

Unit 2 Economics. Chapter 3 Political and Economic Analysis Chapter 4 Global Analysis

Unit 2 Economics. Chapter 3 Political and Economic Analysis Chapter 4 Global Analysis Unit 2 Economics Chapter 3 Political and Economic Analysis Chapter 4 Global Analysis Chapter 3 Political and Economic Analysis Section 3.1 What Is an Economy? Section 3.2 Understanding the Economy What

More information

Digital Disruption, Big Data and HR. Embrace or Avoid? August 2017

Digital Disruption, Big Data and HR. Embrace or Avoid? August 2017 Digital Disruption, Big Data and HR. Embrace or Avoid? August 2017 Presentation Agenda 2 What trends are we seeing? What are business' expectations for HR? What the Competencies of HR in the new economy?

More information

Entrepreneurial Leadership. In the City. Just-in-Time Learning Series. Entrepreneurial Leadership

Entrepreneurial Leadership. In the City. Just-in-Time Learning Series. Entrepreneurial Leadership In the City What You Will Learn Awareness of various entrepreneurial frameworks Knowledge of the linkage between entrepreneurship and leadership Ability to identify potential application of entrepreneurial

More information

A Vision of an ISO Compliant Company by Bruce Hawkins, MRG, Inc.

A Vision of an ISO Compliant Company by Bruce Hawkins, MRG, Inc. A Vision of an ISO 55000 Compliant Company by Bruce Hawkins, MRG, Inc. ISO 55000 refers to a series of three standards outlining the purpose, requirements, and implementation guidance for an Asset Management

More information

Contents. Preface. Acknowledgments. Part 1. International Entrepreneurship and Entrepreneurship Opportunities 1

Contents. Preface. Acknowledgments. Part 1. International Entrepreneurship and Entrepreneurship Opportunities 1 Contents Preface Acknowledgments xi xiii Part 1. International Entrepreneurship and Entrepreneurship Opportunities 1 1. Importance of International Entrepreneurship 3 Profile: Kandahar Treasure 3 Chapter

More information

Performance Review Workshop: Best Practices for Clinton O. Longenecker, Ph.D. Sheri Caldwell, Ph.D.

Performance Review Workshop: Best Practices for Clinton O. Longenecker, Ph.D. Sheri Caldwell, Ph.D. Performance Review Workshop: Best Practices for 2013 Clinton O. Longenecker, Ph.D. Sheri Caldwell, Ph.D. Getting Started Speed Interviews Jot down your answer to the 3 Questions Below: Take One Minute

More information

Entrepreneurial Leadership

Entrepreneurial Leadership Entrepreneurial Leadership Alliance of CEOs, August 19, 2011 John Hamm www.unusuallyexcellent.com Tackle Three Topics Leadership Framework Talent Trust Context Leadership always matters Context Leadership

More information

Digital Transformation Checklist

Digital Transformation Checklist Digital Transformation Checklist Using Technology to Break Down Innovation Barriers in Government December 2017 2017, Amazon Web Services, Inc. or its affiliates. All rights reserved. Notices This document

More information

Things people like and desire.

Things people like and desire. 1 Wants 1 Things people like and desire. 2 Needs 2 Things you must have to live. 3 Scarcity 3 When there is not enough for all who want it. 4 Choice 4 To make a decision. 5 Goods 5 Things that can satisfy

More information

Information Technology Policy and Strategy

Information Technology Policy and Strategy Information Technology Policy and Strategy Lecturer/Convenor: Richard Boateng, PhD. Email: richard@pearlrichards.org Office: UGBS RT18 (rooftop) The Concept of Strategy Research Methods Dr Richard Boateng

More information

How to enable revenue growth in the digital age

How to enable revenue growth in the digital age 14 Turning chaos into cash How to enable revenue growth in the digital age The role that technology can play in enabling revenue growth in the digital age All commercial businesses face continuous pressures

More information