The term entrepreneur comes from the French word 'entreprendre' created in the Middle Ages, and is translated to literally ‘go between’, referring to those who would facilitate business deals. Entrepreneurship, in its traditional form is the practice of starting new organizations, most commonly new businesses. A difficult task that some undertake despite the non-existence of currently controlled resources, or having ever undertaken such a feat in the past.
Inhaltsverzeichnis (Table of Contents)
- Managerial Entrepreneurship
- Entrepreneurship as a Process
- Opportunity Identification
- Viability Analysis
- Action Component
- Entrepreneurial Managers
- Tolerance for Uncertainty
- Seeing the ‘Big Picture’
- Corporate Innovators
- The Globalized Economy
- Innovation
- Micro Evolutionary Innovation
- Macro Evolutionary Innovation
- Strategic Impact of Entrepreneurial Managers
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper discusses the concept of managerial entrepreneurship and its impact on organizational success. It explores the three key facets of entrepreneurship that management of existing businesses can utilize: opportunity identification, viability analysis, and exploitation. The paper also examines the traits and characteristics of entrepreneurial managers, including their ability to innovate, tolerate uncertainty, and see the “big picture.”
- The role of entrepreneurship in organizational growth and development
- The three key facets of entrepreneurship: opportunity identification, viability analysis, and exploitation
- The traits and characteristics of entrepreneurial managers
- The impact of globalization on competition and the need for innovation
- The strategic impact of entrepreneurial managers on organizational strategy
Zusammenfassung der Kapitel (Chapter Summaries)
This paper defines entrepreneurship and discusses its relevance to organizational success. It explores the role of entrepreneurial managers in established businesses and the key skills they possess, including opportunity identification, viability analysis, and exploiting those opportunities for the organization's benefit. The paper emphasizes the importance of entrepreneurial managers in today's globalized economy, particularly in the face of heightened competition. The paper also discusses the difference between micro and macro evolutionary innovation and how entrepreneurial managers drive innovation, leading to long-term strategic success for the organization.
Schlüsselwörter (Keywords)
This paper focuses on the key concepts of managerial entrepreneurship, organizational innovation, opportunity identification, viability analysis, entrepreneurial managers, global competition, micro and macro evolutionary innovation, and strategic impact of innovation.
Frequently Asked Questions
What is managerial entrepreneurship?
Managerial entrepreneurship refers to the practice of applying entrepreneurial skills—such as opportunity identification and innovation—within existing organizations to drive growth and strategic success.
What are the three key facets of the entrepreneurial process?
The process involves three main components: identifying opportunities, conducting a viability analysis to assess potential, and taking action to exploit those opportunities.
What traits define an entrepreneurial manager?
Entrepreneurial managers typically possess a high tolerance for uncertainty, the ability to see the "big picture," and a strong drive for innovation and corporate renewal.
How does globalization impact the need for entrepreneurial management?
In a globalized economy, competition is heightened. Organizations must innovate constantly to survive, making entrepreneurial managers essential for identifying new market trends and maintaining a competitive edge.
What is the difference between micro and macro evolutionary innovation?
Micro evolutionary innovation involves small, incremental improvements to existing products or processes, while macro evolutionary innovation refers to significant, transformative changes that can redefine an organization or industry.
- Citation du texte
- Kimberly Wylie (Auteur), 2003, Managerial Entrepreneurship, Munich, GRIN Verlag, https://www.grin.com/document/60775
