corporate entrepreneurship iii mbax 6100 entrepreneurship & small business management frank...

Corporate Entrepreneurship III

MBAX 6100MBAX 6100

Entrepreneurship & Entrepreneurship &

Small Business ManagementSmall Business Management

MBAX 6100MBAX 6100

Entrepreneurship & Entrepreneurship &

Small Business ManagementSmall Business Management

Frank MoyesFrank MoyesLeeds College of Business Leeds College of Business University of ColoradoUniversity of ColoradoBoulder, ColoradoBoulder, Colorado


Today’s AgendaToday’s Agenda

Corporate Entrepreneurship – IntrapreneurshipCorporate Entrepreneurship – Intrapreneurship Aaron KennedyAaron Kennedy

Review Noodles caseReview Noodles case Make recommendationsMake recommendations

Sustainable Competitive AdvantageSustainable Competitive Advantage Hand-out mid-termHand-out mid-term


Next Week’s ScheduleNext Week’s Schedule

Funding Entrepreneurial Ventures – Venture CapitalFunding Entrepreneurial Ventures – Venture Capital Chris Scoggins, Sequel Venture PartnersChris Scoggins, Sequel Venture Partners Rob Balgley, SkyetekRob Balgley, Skyetek

Believer Capital – private placementBeliever Capital – private placement Doug Collier, Boulder Innovation CenterDoug Collier, Boulder Innovation Center

Read BZ-6Read BZ-6 Hand-in mid-term & entrepreneurship paperHand-in mid-term & entrepreneurship paper


Corporate EntrepreneurshipCorporate Entrepreneurship

Week 5 Obstacles to corporate entrepreneurshipWeek 5 Obstacles to corporate entrepreneurship Week 6 Innovation in corporationsWeek 6 Innovation in corporations Week 7 You as an IntrapreneurWeek 7 You as an Intrapreneur


Corporate Entrepreneurship - Corporate Entrepreneurship - IntrapreneurshipIntrapreneurship

Pinchot: Senior Management, Middle Management, Pinchot: Senior Management, Middle Management, InnovatorsInnovators

Managing creative peopleManaging creative people Simon: management creativitySimon: management creativity


Sources for Today’s TalkSources for Today’s Talk

Gifford Pinchot & Ron Pellman, Gifford Pinchot & Ron Pellman, Intrapreneurship in ActionIntrapreneurship in Action, , 1999, Berrett-Koehler Publishers1999, Berrett-Koehler Publishers

Norman Johnson, Senior Vice President Weyerhaeuser Norman Johnson, Senior Vice President Weyerhaeuser Company, “Acquiring and Managing Creative Talent”, Company, “Acquiring and Managing Creative Talent”, Creative Creative Action in OrganizationsAction in Organizations, Ford and Gioia, 1995 Sage Press, Ford and Gioia, 1995 Sage Press

A J Chopra, A J Chopra, Managing the People Side of InnovationManaging the People Side of Innovation, 1999 , 1999 Kumarian PressKumarian Press

H. A. Simon, “How Managers Express Their Creativity”H. A. Simon, “How Managers Express Their Creativity” My own experiencesMy own experiences


Intrapreneurship - Gifford PinchotIntrapreneurship - Gifford Pinchot

Team basedTeam based People, not ideasPeople, not ideas SponsorSponsor IntrapriseIntraprise Freedom to actFreedom to act Close to customersClose to customers Understand financial dynamics earlyUnderstand financial dynamics early Reach out across boundariesReach out across boundaries


Senior ManagementSenior Management

Create a visionCreate a vision Determine what is blocking innovation – informal channelDetermine what is blocking innovation – informal channel Find and reward sponsorsFind and reward sponsors Foster system for self-organizing teamsFoster system for self-organizing teams Show dissatisfaction for the status quoShow dissatisfaction for the status quo Intolerant of selfish politicsIntolerant of selfish politics

Gifford Pinchot & Ron Pellman, Gifford Pinchot & Ron Pellman, Intrapreneurship in ActionIntrapreneurship in Action


Middle ManagementMiddle Management

Role is to create innovative cultureRole is to create innovative culture Create vision that inspires your people & those in other Create vision that inspires your people & those in other

parts of orgparts of org Bet on people, not the ideaBet on people, not the idea Become a sponsorBecome a sponsor Build network of other sponsorsBuild network of other sponsors



InnovatorsInnovators

Use informal organizationUse informal organization Build effective teams Build effective teams Build network of sponsorsBuild network of sponsors Ask for advice before asking for resourcesAsk for advice before asking for resources Help people in other parts of the organizationHelp people in other parts of the organization



Managing Creative PeopleManaging Creative People

What do creative people want?What do creative people want? Manager’s impact on creativityManager’s impact on creativity Getting the most out of creative people’s ideasGetting the most out of creative people’s ideas Ego agendaEgo agenda


What Do Creative People Want?What Do Creative People Want?

Same things that everyone wantsSame things that everyone wants Recognition of achievements – public and privateRecognition of achievements – public and private Intrinsic & extrinsic motivationIntrinsic & extrinsic motivation Compensation equal to peersCompensation equal to peers

Particularly important to creativesParticularly important to creatives Recognition of their peersRecognition of their peers See the results of their workSee the results of their work To learn new skillsTo learn new skills ToysToys


What Is Your Impact on CreativityWhat Is Your Impact on Creativity

You are responsible You are responsible You need to make good decisionsYou need to make good decisions You always are time & resource constrainedYou always are time & resource constrained


Creative People Can Be a Pain in the ButtCreative People Can Be a Pain in the Butt

““Creative people have trouble being accurate, punctual Creative people have trouble being accurate, punctual and proper. Other things are more important to them.”and proper. Other things are more important to them.”

More loyal to tasks, ideas or profession than More loyal to tasks, ideas or profession than organizationorganization

Often don’t like working in teamsOften don’t like working in teams Weird work habitsWeird work habits


Most Ideas Are Not “Suitable”Most Ideas Are Not “Suitable”

Creative people produce ideas that are fresh and Creative people produce ideas that are fresh and different – not always concerned with practicalitydifferent – not always concerned with practicality

People create ideas for themselves, not with you or your People create ideas for themselves, not with you or your problems in mindproblems in mind


What Should Be Your Response to a “Bad” Idea?What Should Be Your Response to a “Bad” Idea?

This is crap!This is crap! How do you say idea is unacceptable, but not make How do you say idea is unacceptable, but not make

person defensive?person defensive? The more negative your reaction…The more negative your reaction… the more likely it is to be the basis of a good ideathe more likely it is to be the basis of a good idea


How Do Your Actions Impact CreativityHow Do Your Actions Impact Creativity

You must act - people like to see that they have You must act - people like to see that they have contributed to your thinkingcontributed to your thinking

Don’t ask for ideas if you don’t want themDon’t ask for ideas if you don’t want them Getting good ideas and acting on them has other Getting good ideas and acting on them has other

benefitsbenefits People want to help you because they have a sense of People want to help you because they have a sense of

ownershipownership They feel valued & respectedThey feel valued & respected Attracts people to your teamAttracts people to your team


Managing EgoManaging Ego

What you say about my idea can really hurt - attacks my What you say about my idea can really hurt - attacks my self-esteemself-esteem Maslow hierarchy of needsMaslow hierarchy of needs Need to maintain or enhance our self-esteemNeed to maintain or enhance our self-esteem Fear of being thought stupidFear of being thought stupid

Perceptions of other people’s reactions to us are Perceptions of other people’s reactions to us are importantimportant Confirm how good we areConfirm how good we are Reality check, not that you need approvalReality check, not that you need approval


We All Want to Look GoodWe All Want to Look Good

Learn strategies when we were a teenagerLearn strategies when we were a teenager Want to be liked, attractiveWant to be liked, attractive Want to belongWant to belong Don’t want to be considered dumbDon’t want to be considered dumb Don’t want to be embarrassedDon’t want to be embarrassed

You try to look good byYou try to look good by Making someone else look less good Making someone else look less good Taking more than your fair share of the creditTaking more than your fair share of the credit Being vindictive or pettyBeing vindictive or petty


How Do We Respond to Attack on Our How Do We Respond to Attack on Our Self-esteem?Self-esteem?

My focus changes from the task to reacting to the blowMy focus changes from the task to reacting to the blow Repair the damage it causedRepair the damage it caused Making sure I don’t suffer any moreMaking sure I don’t suffer any more

Not giving you any more ideasNot giving you any more ideas Give you only safe onesGive you only safe ones Defend my ideaDefend my idea Attack your ideaAttack your idea If you’re my boss and want me to implement, then don’t try very If you’re my boss and want me to implement, then don’t try very

hardhard SulkSulk


How Deal with Your Own Ego?How Deal with Your Own Ego?

Someone tells me that my idea is dumbSomeone tells me that my idea is dumb Tell person that they don’t understand my ideaTell person that they don’t understand my idea Convince them of the benefitsConvince them of the benefits Shut up and sulkShut up and sulk

that they are not calling me dumb, just the ideathat they are not calling me dumb, just the idea


How Deal With Ego of Others?How Deal With Ego of Others?

Recognize we all have self-esteemRecognize we all have self-esteem No, but responseNo, but response


Conclusion on Managing Creative PeopleConclusion on Managing Creative People

Creative people often are a little weird, but want what Creative people often are a little weird, but want what everyone wants - to be recognized and respected.everyone wants - to be recognized and respected.

Manager’s actions determine creativityManager’s actions determine creativity Find the seeds and fix the flawsFind the seeds and fix the flaws Manage the ego agenda, including your ownManage the ego agenda, including your own


Management Creativity Management Creativity

Defines creativity as problem solvingDefines creativity as problem solvingProblem solving depends on knowledge & Problem solving depends on knowledge &

expertiseexpertisePrerequisites of creativity arePrerequisites of creativity are

50,000 chunks50,000 chunks 10 years of experience10 years of experience

H. A. Simon, “How Managers Express Their Creativity”H. A. Simon, “How Managers Express Their Creativity”


Creator vs. EntrepreneurCreator vs. Entrepreneur

Creativity = (quality of ideas + quantity of Creativity = (quality of ideas + quantity of Ideas) * climateIdeas) * climate

Entrepreneurship = creativity + action (to Entrepreneurship = creativity + action (to implement)implement)

corporate entrepreneurship iii mbax 6100 entrepreneurship & small business management frank...

Documents

action slide

management creativity

colorado slide

intrapreneur slide

creative action

creative people simon

senior management

new skills toys slide