Effective corporate venturing flows from the CEO's office giving permission.
encouragement and warnings to the politically driven management that the
company will embrace, protect and reward internal entrepreneurs. In
Machiavellian terms, without the strong King telling the feudal Barons this
is what is wanted and needed the Barons (VP's and division heads) will
politically destroy the venturing activity. Without a top-down mandate any
internal venturing initiative is doomed. Now to your question of why anyone
would take such a risk?
People will risk when the perceived rewards are greater than the perceived
risk. The effective perceived rewards are (1) the creation of a new
organizational entity with the company, with the potential that the
entrepreneur may gain advancement to run the entity ... the "star" system
which was the innovating force of the 3M Company; and/or (2) a financial
reward accruing from the purchase of the internal "start-up" by an existing
department, or a divestment sale to an outside purchaser. Letters of
congratulation, acclaim by peers and superiors, a two week vacation all fall
far short of sufficient reward for the risk. Career advancement, real money
or the opportunity to take the venture outside is worth the risk - or
developing the idea is just part of the daily job.
Jack Savidge
UCSD
jsavidge@ucsd.edu
From: Marcos Hashimoto [mailto:
MarcosH@ibmec.br]
Sent: Friday, December 08, 2006 12:09 PM
To:
jsavidge@pacbell.net; 'Prof. Dr. Hans Georg Gemuenden';
ENTREP@AOMLISTS.PACE.EDU
Subject: RES: Re: [ENTREP] Collective entrepreneurship
Your point is absolutely relevant. Corporate entrepreneurship is currently
my specialty and today I am studying the application of Institutional Theory
and Agency Theory to Corporate Entrepreneurship. In fact, IT researchers had
found two distinct behavior in organizations: Induced or autonomous
(Ferreira J or Heller T). The autonomous behavior in CE happens when an
individual's initiative starts a new venture, independently from the
organization's efforts to promote such initiatives from their employees. The
induced behavior happens when the organization promotes several policies,
rules and internal campaigns to stimulate their employees to come up with
ideas that could become new ventures. Although both requires a team for an
idea to be fully developed and implemented, the way it is arranged
internally is completely different as one is informal and other is a formal
approach under the organizational point of view. In the first case, the
entrepreneur takes the risk (including the risk to be fired), while the
other case the risk is assumed by the corporation. I would like to
understand why an individual would take such risk in a project conceived to
benefit the corporation only or just in some cases, former job coleagues. I
have several examples but could not find a correlation on their
behaviors/motivations.
Marcos
_____
De: Jack Savidge [mailto:
jsavidge@pacbell.net]
Enviada: sex 8/12/2006 15:55
Para: 'Prof. Dr. Hans Georg Gemuenden'; Marcos Hashimoto;
ENTREP@AOMLISTS.PACE.EDU
Assunto: RE: Re: [ENTREP] Collective entrepreneurship
Note that I reply to the whole forum list as your comments are very central
to this discussion.
We must consider why venture capitalists or corporate sponsors invest in the
potential of a new business. It starts with the passion of an individual who
has seized an idea, reshaped with by risk-taking thinking and their
rudimentary construction of an imagined commercial outcome. That individual,
the entrepreneur, is the "we can do it" catalyst attractant of team people,
money, urgency and persistence that, perhaps, will cause the launch of a new
initiative. The conclusion that teams perform better during the development
phase is correct. Nothing, however, begins as the output of team.
Internal corporate venturing has be dissected in several books chronicling
success and failure. As a former expert assisting very large companies to
cope with the disruptive environment caused by internal ventures, the
lessons learned are that internal entrepreneurs and their nascent
initiatives must be nurtured to protect them from the corporate immune
system whose purpose is destroy foreign bodies of the status quo. It is the
zeal of the founder/entrepreneur that urges forward motion at great personal
risk. Corporate venturing mentors and political advocates are the key to
successful internal venturing.
Jack Savidge
Deputy Director, The vonLiebig Center
Univ. of Cal., San Diego
jsavidge@ucsd.edu
From: Prof. Dr. Hans Georg Gemuenden
[mailto:
hans.gemuenden@tim.tu-berlin.de]
Sent: Friday, December 08, 2006 8:20 AM
To:
MarcosH@ibmec.br; Jack Savidge
Subject: Fwd: Re: [ENTREP] Collective entrepreneurship
We have done research on crossfuncational teams in new product development,
on entrepreneurial teams, and on key roles in innovation management
From this research on high-tech start-ups we know that - in the average -
entrepreneurial teams perform better than single founders that financial,
controlling and marketing competences become more important during the
development of the firm
and that innovations in large firms are usually not done by single
inventors, but by teams of informal alliances of champions or promotors as
they are called in Germany, and we have empirically analysed power promotors
(executives), process promotors, market promotors (b2b-relationship
promotors), expert promotors and technological gatekeepers, these persons
are usually linked by social networks which are quite stable
best regards
hans georg gemünden
X-Sieve: CMU Sieve 2.2
Approved-By:
jbunch@BENEDICTINE.EDU
X-Mailer: Microsoft Office Outlook 12.0
Thread-index: AccZ/ROfb0DWrqK+RNKIiin0nKj93gAHzA/g
X-YMail-OSG:
t4D5egwVM1mp3QULwKZbA_1RyYtN8rTftWgM2b5qedGI92hrrEcqbrvF2dEkNShub241TQDpoMNo
yKuOlhF.rMHQOIoOdlK4kBHEx8chfAaVJGm657eg2ErszN46rCVVyXKG.4arR_lqMFA-
X-pstn-levels: (S:99.90000/99.90000 R:95.9108 P:95.9108 M:97.0282 C:98.6951
)
X-pstn-settings: 3 (1.0000:1.0000) s gt3 gt2 gt1 r p m c
X-pstn-addresses: from <
jsavidge@pacbell.net> [45/2]
Date: Thu, 7 Dec 2006 21:26:27 -0800
Reply-To: Jack Savidge <
jsavidge@PACBELL.NET>
Sender: Entrepreneurship Division Listserv <
ENTREP@AOMLISTS.PACE.EDU>
From: Jack Savidge <
jsavidge@PACBELL.NET>
Subject: Re: [ENTREP] Collective entrepreneurship
Comments: To: Marcos Hashimoto <
MarcosH@ibmec.br>
To:
ENTREP@AOMLISTS.PACE.EDU
List-Help: < <http://aomlists.pace.edu/scripts/wa.exe?LIST=ENTREP>
http://aomlists.pace.edu/scripts/wa.exe?LIST=ENTREP>, < <mailto:
LISTSERV@AOMLISTS.PACE.EDU%3Fbody=INFO%20ENTREP>
mailto:
LISTSERV@AOMLISTS.PACE.EDU?body=INFO ENTREP>
List-Unsubscribe: < <mailto:
ENTREP-unsubscribe-request@AOMLISTS.PACE.EDU>
mailto:
ENTREP-unsubscribe-request@AOMLISTS.PACE.EDU>
List-Subscribe: < <mailto:
ENTREP-subscribe-request@AOMLISTS.PACE.EDU>
mailto:
ENTREP-subscribe-request@AOMLISTS.PACE.EDU>
List-Owner: < <mailto:
ENTREP-request@AOMLISTS.PACE.EDU>
mailto:
ENTREP-request@AOMLISTS.PACE.EDU>
List-Archive: < <http://aomlists.pace.edu/scripts/wa.exe?LIST=ENTREP>
http://aomlists.pace.edu/scripts/wa.exe?LIST=ENTREP>
X-Virus-Scanned: Sophos MailMonitor at mail.zrz.tu-berlin.de;
Fri, 08 Dec 2006 16:42:09 +0100
X-Spam-Score: -2.4 (--)
The statistics that stand the test of time are the "birth-failures" reported
by the U.C. Small Business Administration. The newest report for 2005
results follows:
www.sba.gov/advo/research/sb_econ2006.pdf This just
supports the case for entrepreneurial training for each major evolutionary
milestone from creative idea to 1st order to infrastructure and team
building to management of finances and market expansion ...... Curricula
must be modified to go beyond the business plan for start-up.
Your profiles appear to address this need.
Jack Savidge
UCSD
jsavidge@ucsd.edu
From: Marcos Hashimoto [ <mailto:
MarcosH@ibmec.br> mailto:
MarcosH@ibmec.br]
Sent: Thursday, December 07, 2006 4:44 AM
To: 'Jack Savidge'; '
ENTREP@AOMLISTS.PACE.EDU'
Subject: Collective entrepreneurship
That's why I never believed in the figure of the lonely entrepreneur. For
me, entrepreneurship is always collective, because it is very difficult to
find the complete entrepreneur: good in having ideas, developing it,
analysis the viability and establish a successful business from an
invention. Normally, what we can find in successful stories is a good idea
generated by the class of entrepreneur which could be considered the
creative one.
A second entrepreneurial profile, the planner or the administrator, takes
this idea and develop it to check its viability. He is the one who writes
the business plan (which normally the creative guy has no patience nor
knowledge to do) and finally a third one, the executor entrepreneur, takes
the business plan and the prototype and transform them into a business. The
executor entrepreneur is normally focused on results, needs to make things
happen, while not necessarily the creative and the planner have the 'hands
on' skills.
A good entrepreneurial project, so, demands the three profiles (among
others) and those rarely come into the same person.
Definitely being a creative person only does not make you a real
entrepreneur. This is a very common confusion in the field I also try to
mitigate.
<http://www.ibmecsp.edu.br> []
Marcos Hashimoto
( (5511) 4504-2300 - Ext 2713
1 Entrepreneurship Center
*
MarcosH@isp.edu.br
www.ibmecsp.edu.br <http://www.ibmecsp.edu.br/>
Quatá st, 300 - Vila Olimpia - SP
_____
De: Entrepreneurship Division Listserv [ mailto:
ENTREP@AOMLISTS.PACE.EDU
<mailto:
ENTREP@AOMLISTS.PACE.EDU> ] Em nome de Jack Savidge
Enviada em: terça-feira, 5 de dezembro de 2006 18:41
Para:
ENTREP@AOMLISTS.PACE.EDU
Assunto: Re: [ENTREP] How to measure creativity in entrepreneurs
Dick,
Inventors, indeed, are few as new venture entrepreneurs. Their very nature
is one of liking the distraction of new ideas - when starting a venture
requires, to do it right, 110% focus. The tragic event is when the inventor
perceives being the entrepreneur to build a company around the idea, not
relinquishing any responsibility to anyone. Result - the idea loses it's
potential as the inventor will most likely not make it happen; the inventor
loses because they are constrained by the venture's demands and can not move
to the next idea; and society loses as both the idea and inventor are
blocked from going forward. Less creative entrepreneurs need to "hang
around" inventors, establish trust, be non-creatively threatening, and
persuasive that together each one's skill can grow something beneficial to
all.
Jack Savidge
From: Teach, Richard [ <mailto:
Richard.Teach@mgt.gatech.edu>
mailto:
Richard.Teach@mgt.gatech.edu]
Sent: Tuesday, December 05, 2006 11:14 AM
To: Jack Savidge;
ENTREP@AOMLISTS.PACE.EDU
Subject: RE: [ENTREP] How to measure creativity in entrepreneurs
One often finds many "creative" individuals among inventors, but there seems
to be few inventor-entrepreneurs. While this is not an empty set, I have
found it to be sparsely populated. Entrepreneurs often join with an
inventor, but in most of these cases, the inventor plays a "technology
advisor's" role.
Dick Teach
_____
From: Entrepreneurship Division Listserv [ mailto:
ENTREP@AOMLISTS.PACE.EDU
<mailto:
ENTREP@AOMLISTS.PACE.EDU> ] On Behalf Of Jack Savidge
Sent: Thursday, November 30, 2006 11:47 PM
To:
ENTREP@AOMLISTS.PACE.EDU
Subject: Re: [ENTREP] How to measure creativity in entrepreneurs
Ricardo,
May I comment that creativity is not a necessary quality to become an
entrepreneur. Being creative and starting a business, however, do require
risk tolerant characteristics. There is a tool that does measure risk
tolerance versus risk aversion called the "Kirton Adaption - Innovation
Inventory" found at
www.kaicentre.com/ While the main use of the testing
is to identify individuals to create balanced teams, a particular
practitioner Idea Connections Systems -
www.innovating.com/ser_instruments.html - has measured the risk
characteristics of entrepreneurs for more than twenty years to derive a rich
data base against which to compare "new entrepreneurs."
In a business context the creative idea is but the 1st step toward a viable
enterprise. One person may be creative but lack the characteristics to
covert that idea into a potentially valuable innovation - requiring
reduction to practice, feasibility and demonstrability. It is rare the same
individual can both invent/create and innovate much less move to the next
process step of development, business planning and commercialization.
Creating equals high risk (one fails far more than succeeds), innovating
equals discipline or less risk. Knowing what we are looking for at which
evolutionary stage in the birth of enterprise leads to selecting the proper
measuring tools.
Good luck,
Jack Savidge
Deputy Director
The von Liebig Center
Univ. of California, San Diego
jsavidge@ucsd.edu
From: Entrepreneurship Division Listserv [ mailto:
ENTREP@AOMLISTS.PACE.EDU
<mailto:
ENTREP@AOMLISTS.PACE.EDU> ] On Behalf Of Ricardo Jesús Bolaños
Barrera
Sent: Wednesday, November 29, 2006 9:13 AM
To:
ENTREP@AOMLISTS.PACE.EDU
Subject: [ENTREP] How to measure creativity in entrepreneurs
Those any one has an instrument to measure creativity in the entrepreneur?
Not the innovation in the business, but the creativity in the person.
Best regards
Ing. Ricardo Bolaños Barrera (
ricardob@itesm.mx)
Director de la Incubadora de Empresas
División de Posgrados e Investigacion
Tecnológico de Monterrey, Campus Estado de México
Teléfono: (5255) 5864.5555 extensión 3464
Fax: (5255) 5864.5779
enlace-intercampus: 80.236.3464,
http://www.itesm.mx
El contenido de este mensaje de datos no se considera oferta, propuesta o
acuerdo, sino hasta que sea confirmado en documento por escrito que contenga
la firma autógrafa del apoderado legal del ITESM. El contenido de este
mensaje de datos es confidencial y se entiende dirigido y para uso exclusivo
del destinatario, por lo que no podrá distribuirse y/o difundirse por ningún
medio sin la previa autorización del emisor original. Si usted no es el
destinatario, se le prohíbe su utilización total o parcial para cualquier
fin.
The content of this data transmission must not be considered an offer,
proposal, understanding or agreement unless it is confirmed in a document
signed by a legal representative of ITESM. The content of this data
transmission is confidential and is intended to be delivered only to the
addressees. Therefore, it shall not be distributed and/or disclosed through
any means without the authorization of the original sender. If you are not
the addressee, you are forbidden from using it, either totally or partially,
for any purpose.
************************************** This message is from ENTREP which is
sponsored by the Entrepreneurship Division of the Academy of Management.
Please do not post messages with attached files. Commercial messages or
spammed messages are not allowed on the list. The use of auto-responder
"out-of-office" messages may also lead to your removal from the list. You
can manage your subscription options, including joining or leaving the list
here:
http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep
<http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1> &A=1 If you have
questions or need help, please contact Dr. John Bunch
jbunch@benedictine.edu. Ventures HO!
************************************** This message is from ENTREP which is
sponsored by the Entrepreneurship Division of the Academy of Management.
Please do not post messages with attached files. Commercial messages or
spammed messages are not allowed on the list. The use of auto-responder
"out-of-office" messages may also lead to your removal from the list. You
can manage your subscription options, including joining or leaving the list
here:
http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep
<http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1> &A=1 If you have
questions or need help, please contact Dr. John Bunch
jbunch@benedictine.edu. Ventures HO!
************************************** This message is from ENTREP which is
sponsored by the Entrepreneurship Division of the Academy of Management.
Please do not post messages with attached files. Commercial messages or
spammed messages are not allowed on the list. The use of auto-responder
"out-of-office" messages may also lead to your removal from the list. You
can manage your subscription options, including joining or leaving the list
here:
http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep
<http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1> &A=1 If you have
questions or need help, please contact Dr. John Bunch
jbunch@benedictine.edu. Ventures HO!
************************************** This message is from ENTREP which is
sponsored by the Entrepreneurship Division of the Academy of Management.
Please do not post messages with attached files. Commercial messages or
spammed messages are not allowed on the list. The use of auto-responder
"out-of-office" messages may also lead to your removal from the list. You
can manage your subscription options, including joining or leaving the list
here:
http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep
<http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1> &A=1
If you have questions or need help, please contact Dr. John Bunch
jbunch@benedictine.edu. Ventures HO!
==================================================
Prof. Dr. Hans Georg Gemünden, Berlin University of Technology
Chair of Technology and Innovation Management
Strasse des 17 Juni 135, H71, 10623 Berlin
phone: ++ 49 30/314-26 090
fax: ++ 49-30/314-26 089
e-mail:
hans.gemuenden@tim.tu-berlin.de
http://www.tim.tu-berlin.de/
Prof. Dr. Hans Georg Gemünden, TU Berlin
Fakultaet VIII Wirtschaft und Management
Institut für Technologie und Management
Lehrstuhl für Technologie- und Innovationsmanagement
Strasse des 17 Juni 135, H71, 10623 Berlin
==================================================
**************************************
This message is from ENTREP which is sponsored by the Entrepreneurship Division of the Academy of Management.
Please do not post messages with attached files. Commercial messages or spammed messages are not allowed on the list. The use of auto-responder "out-of-office" messages may also lead to your removal from the list.
You can manage your subscription options, including joining or leaving the list here:
http://aomlists.pace.edu/scripts/wa.exe?SUBED1=entrep&A=1
If you have questions or need help, please contact Dr. John Bunch
jbunch@benedictine.edu.
Ventures HO!