MNO4313D: Corporate Entrepreneurship
Instructor
E-Mail
Session
:
:
:
Adjunct Assoc Professor Andrew NG
andrewng@nus.edu.sg
Semester 2, 2010/2011
Course Overview
It has been said that entrepreneurship is to the company what speed is to the athlete. In the
quest for sustainable competitive advantage, companies are finding that lower costs, higher
quality and better customer service are not enough. Today, they must be faster, more flexible,
more aggressive and more innovative in order to maintain the competitive edge. In Short they
must be more Entrepreneurial.
Most managers would acknowledge this conclusion, and yet few seem to understand
what corporate entrepreneurship really is, or how to make it happen.
It is these issues that are the subject matter of the Corporate Entrepreneurship course. The
so-called "bottom line" of this course is concern about how to find the Richard Bransons, the
Ted Turners and the Bill Gates within the mainstream of the company... on the shop floor, in
the sales force, at the reception desk, in the research laboratory. The focus is on creating work
environments where entrepreneurship is not the controversies, and students will be
challenged to develop and defend their opinions regarding these matters.
It is also a practical and applied course, where students must take their ideas, concepts, tools
and frameworks to which they are exposed and apply them both in a series of real world cases
to perform an entrepreneurial audit of the company they are working for and also come up with
proposals of how their company could become more entrepreneurial.
Learning Objectives
Upon completion of this course, students should be able to:
- Identify similarities and differences between Corporate and Start-up Entrepreneurship
- Be able to apply the entrepreneurial process to the operations of a department or functional
area within an established organization;
- Assess the environment within an established company in terms of how much it supports or
constrains entrepreneurship;
- Identify creative ways to overcome obstacles to entrepreneurship in established companies;
- Be able to formulate corporate objectives and strategies that support entrepreneurial
behaviour;
- Understand their managerial styles, their own attitudes toward failure and change, and how
entrepreneurial their approach to management appears to be;
- Recognize and evaluate the ethical dimensions of corporate entrepreneurial behaviour
1
Text & Readings
- Corporate Entrepreneurship & Innovation (2nd edition) by Michael H Morris, Donald F.
Kuratko & Jeffrey G.Covin (ISBN 1-57675-061-2) – Main text
- Supplementary resources
- Growth from Within by Robert C.Wolcott & Michael J.Lippitz (ISBN 978-0-07-159832-3)
- Intrapreneuring in Action by Pinchot, Gifford & Ron Perlman (ISBN 1-57675-061-2)
- Maverick: The Success story behind the World’s most unusual workplace by Semler,
Ricardo (ISBN 0-446-67055-3)
Course Assessment
The course requires effective class participation, written case analyses, class
presentations, and a group project. The course will have no final written exam and your grade
will be based on the following:
Class Participation
Case Analyses
Discussion Leader/Class Presentation
Class Project
20%
40% (Individual)
20% (Team)
20% (Team)
Class Participation (20%)
This course uses learning methods that require active involvement (e.g., discussions,
exercises, simulations, etc.). Thus, attendance is required for every class session. I expect
you come to class ready to discuss the assigned readings and/or case. What you get out of
this course depends on what you put in. Class preparation involves not just a thorough
analysis of the case. You must also develop a position on the issues raised in the case prior to
each class.
Participation quality (thoughtfulness of comments/questions) is valued more than participation
quantity (frequency of comments/questions).
Absence, lateness, and lack of preparation each have a negative impact on your class
participation grade. More than two absences will reduce your class participation grade by a full
letter grade for each subsequent absence.
Case Analyses (40%) (Individual)
The ability to simultaneously integrate (see what is similar) and differentiate (see what
is different) between a company’s existing and new business is crucial to the success of any
corporate entrepreneurship effort. To hone these skills you are expected to submit two written
case analyses from among the assigned cases. Three requirements you should keep in mind
as you prepare your analyses:
2
1. At least of the analyses must be individual work. The second can be individual or team
work.
2. Each case analysis should be no longer than 800 words. Two additional pages can be
used for appendices (e.g. tables, figures, etc.).
3. Use MS Word, I will not grade submissions sent as PDF files.
4. All submissions must be uploaded to IVLE prior to the class in which the case will be
discussed.
See course administration section of this syllabus for writing guidelines.
Entrepreneurial Audit (20%) (Team)
Students’ will be divided in teams of six and each team is to select a company and to
conduct an Entrepreneurial Audit (template & guidelines will be provided) and make a
presentation of their findings in week 6 & 7.
Proposal & recommendations (20%) (Team)
Based on their findings the project team will come out with proposals and recommendations
as to how the selected company could become more entrepreneurial
** More information on these projects will be provided in class.
3
Course Administration and Writing Guidelines
Student participation and interaction are crucial to the success of this course. The opportunity
for students to gain insight into entrepreneurial issues from their fellow students is of
tremendous value. This can only be accomplished if students come to class consistently and
are prepared to participate with questions and observations.
All case analyses and presentation slides must be uploaded to our workbin on IVLE
before the start of the class in which they are due. These documents must be in MS
Word (PDF files will not be accepted). A copy of your presentation slides must be
provided to me prior to the start of class.
Assignment Format: All major written assignments should adhere to the following guidelines:
 MS Word not PDF Format. ASSIGNMENTS RECEIVED IN PDF FORMAT WILL NOT
BE GRADED.
 Double-spaced, 1” margins, single-sided, Times New Roman 12 font, page numbers.
 No more than 25 words should appear on a single slide in a PowerPoint presentation
 Use correct spelling and grammar.
 Be concise – avoid passive voice and long sentences.
 Avoid run-on sentences. If a sentence crosses more than two lines of text divide it into
at least two sentences. 1 point will be deducted from your grade for each sentence that
spans more than two lines of text.
 Use subheadings (sections) to enhance clarity.
 Use bullet points to list evidence in support of your key points.
 Ensure that the use of course concepts is explicit and appropriate.
 Emphasize the evidence – eliminate unfounded speculation and opinion.
 Designate a chief editor to ensure continuity and a common voice for group
assignments.
If you have difficulties with spelling please use a dictionary and a good word processing
program to check your work. If you have difficulties with grammar please refer to The
Elements of Style by W. Strunk & E. B. White (NY: Macmillan) or a similar text.
Assignment Length: If your analysis or report exceeds the page limit the excess will not be
considered when evaluating your work and assigning your grade.
Late Submissions Will Not Be Accepted Under Any Circumstances: If your assignment is late,
it will not be graded. The workbin will close at the start of class when the assignment is due.
Grade Verification: Grades input into our grade book on IVLE are considered final one week
after they are posted. So please be sure to verify that your grades have been entered correctly
as soon as you receive them.
Attendance: Please let me know ahead of time in the event you have a schedule conflict or
are ill. If you are absent more than two class sessions the likelihood of you successfully
completing the course will be greatly diminished. Please keep me informed if there is a
problem attending class.
Academic Honesty: Cheating, plagiarism, and/or doing work for another person which will
receive academic credit are all impermissible. This includes the use of unauthorized books,
notebooks, or other sources in order to secure or give help for an assignment or the
presentation of unacknowledged material as if it were the student’s own work.
Team Participation Evaluation: You will have the opportunity to provide feedback on the
4
relative performance of your team members at the end of the semester. If all of your
teammates agree that one member was a poor performer (e.g. contributed less than the
others or was disruptive in some way to the team process, etc.) I will reduce that student’s
grade accordingly.
Course Schedule
Session
Topic(s)
1
What is Corporate Entrepreneurship?
Introduction and Course Overview
Case(s)
2
The Organizational Life Cycle; Who is
the Entrepreneur and Entrepreneurs
versus managers
3
A framework of understanding the
obstacles to Corporate
Entrepreneurship
The four models of Corporate
Entrepreneurship
4
Managing Corporate Entrepreneurship
- New product development
- Technology management
Corporate venture at P & G
Happy Chinese New Year
5
6
Functional Perspective-Marketing and
Corporate Entrepreneurship
3M Optical
Entrepreneurial audit team
presentation
Mid Term Break
7
Entrepreneurial audit team
presentation
8
The HRM system and Corporate
Entrepreneurship
The Ambidextrous organization
-The role of Cost, budget and Control
system & Corporate Entrepreneurship
- Organization structures
Meeting the challenge of
corporate entrepreneurship
- Setting goals & strategies for
Corporate entrepreneurship
Building breakthrough
businesses in established
organization
9
10
11
Corporate cultures & the issue of
cultural fit with the environment
12 & 13
Final project Presentations
5
Course Outline and Readings
Session 01
A) Introduction: The changing nature of the Strategic challenges confronting organizations;
The Nature of Entrepreneurship, The Entrepreneurial Process. ** Read CE, Chapter 1
B) What it Means to be Entrepreneurial; The Concept of Entrepreneurial Intensity (EI);
Measuring a Company's EI Score; Difference between Start-up and Corporate
Entrepreneurship ** Read CE, Chapter 3 & 4
Session 02
A) The Organizational Life Cycle; Why stay and Why Leave; Who is the Entrepreneur?; Types
of Entrepreneurs; Entrepreneurs versus Managers ** Read CE Chapter 2 & 5
B) Preparation for Entrepreneurial Audit
Session 03
A) A Framework of Understanding the obstacles to Corporate Entrepreneurship; Applying the
Framework ** Read CE Chapter 9
B) Why do Corporate Venturing: Getting Started ** Read CE Chapter 6
Case and Case Questions:
The Four Model of Corporate Entrepreneurship
- Compare and Contrast the Four models of Corporate Entrepreneurship and elaborate
in detail as to which model do you think fit well into the company that you have
selected for your Entrepreneurial Audit
Session 04
A) Managing New product and service development in Corporations; Level of Innovation;
Perspective on the New Product Development Process; Technology Push versus Market Pull;
Contemporary Practices in Managing Innovation ** Read CE Chapter 7.IIA: Chapter 5 & 6
B) Technology Management and Corporate Entrepreneurship; Common misconceptions
about Technology; The Technology Life Cycle; Implications of Technology Turbulence for the
Corporate Entrepreneur ** Read CE Chapter 7 & 8
6
Cases and Case Questions:
Corporate Venture at Procter and Gamble
- What lessons pertaining to Corporate Entrepreneurship have you learnt from the
case?
- Which model or models of Corporate Entrepreneurship did they adopt?
-Elaborate on whether the lessons learnt could be applied in your own organization?
Session 05
A) Functional Perspective-Marketing and Corporate Entrepreneurship; Leading versus
Following Customers; Expeditionary Marketing; Entrepreneurial Orientation versus Market
Orientation; Application to the Corporation's Marketing Mix
B) Functional Perspective--Purchasing and Corporate Entrepreneurship; A Strategic
Perspective on Purchasing; An Entrepreneurial Perspective on Purchasing; The Value Added
Chain
Cases and Case Questions:
3M Optical
- As Andy Wong, how would you respond to your OS team’s request that you support
the AFE for $750,000 to re launch the privacy screen?
- What is Wong’s role as a front-line manager in 3M?
- As Paul Guehler, would you approve Wong’s request for funding for the third launch
of the new privacy screen?
- What is Guehler’s role as division president at 3M?
- How effective has Andy Wong been as a front line manager?
- How effective has Paul Guehler been as division president in 3M?
- What is it about the 3M organization and management model that drives its incredible
innovation record?
-Can this culture continue to produce innovation into the 21st century?
Session 06
- Entrepreneurial Audit presentation
Session 07
- Entrepreneurial Audit presentation
7
Session 08
A) The HRM System and Corporate Entrepreneurship; A Review of Strategic HRM Decision
Areas; Ways in which HRM Practices can facilitate Corporate Entrepreneurship
B) The Role of Compensation, Rewards, Awards and Appraisals; The Expectancy Model;
What to Try and Build
Cases and Case Questions:
Harvard articles; Building breakthrough businesses in established companies
-The Ambidextrous Organization
- Comment on the possibility of your organization becoming an Ambidextrous
Organization?
- Highlight key lessons learn that could be applied in your group project
Session 09
A) The Role of Cost Systems, Budget Systems and Control Systems; Organizations that are
Out of Control; Costing that Makes Sense; ** Read CE Chapter 11
B) Types of Organizational Structures that Encourage or Discourage Entrepreneurship;
Components of Structure; Evolving Structures ** Read CE Chapter 10
Cases and Case Questions:
Harvard articles; Building breakthrough businesses in established companies
- Meeting the challenges of Corporate Entrepreneurship
-Comment on the three approach suggested by the author? How relevant are they to
your organization?
- Highlight key lessons learn that could be applied in your group project
Session 10
A) Setting Goals and Strategies; Types of Entrepreneurship Goals and Who Should Set Them;
Applying the Concept of the Innovation Portfolio ** Read CE Chapter 9 and 10
B) People Issues; Resistance to Change. Fear of Failure and More; What Do Employees
Really Fear; Failure as a Necessity; Failure and Learning; How to make Failure Tolerable
8
Cases and Case Questions:
Harvard articles; Building breakthrough businesses in established companies
- Building breakthrough businesses in established organizations
- Comment on the strategies suggested by the author? How relevant are they to
your organization?
- Highlight key lessons learn that could be applied in your group project
Session 11
A) Critical Aspects and Issues surrounding the Corporate Culture; Values; Norms;
Expectations, Rituals and Symbols; The Issue of Cultural Fit with the External Environment;
** Read CE Chapter 13
B) What about the Ethics of the Corporate Entrepreneur?
** Course wrap up and briefing for final project presentation
Session 12
- Final project presentation
Session 13
- Final project presentation
9
Case Method, Analysis, and Grading
This class is designed to provide you with the means to build your entrepreneurial
management skills while simultaneously building your analytical “toolkit”. The toolkit includes
the specific theories, concepts and techniques we will discuss over the course of the
semester.
The case method is an effective way to simulate the types of decision you will face as
managers in the ‘real world’. Your management skills are enhanced by putting you in the
manager’s place as described in each case. You will learn the most when you take a position
on the decision(s) highlighted in each case. Like the manager that actually had to make the
decision(s) presented in each case you will have to make recommendations without all the
data you would want. My role is that of discussion leader/facilitator, not a lecturer. Remember
there are no correct or incorrect answers but there are strong and weak case analyses.
Strong case analyses will draw on the toolkit we have built in class up to the date of the
case. The best case analyses will indicate which models/frameworks are being used and why.
Strong case analyses will also:
•
Answer the questions asked
•
Identify key assumptions
•
Include a brief discussion of alternatives you are not recommending and your
reasoning for not choosing those alternatives
•
Assure that quantitative analyses are readily understandable (usually in an exhibit).
The reader should be able to replicate your work easily.
•
Propose solutions that are specific and practical Appropriately use tables and
appendices. Tables should be used sparingly to highlight/summarize the key points in
your analysis. Tables in and of themselves are not analyses.
Strong case analyses will not:
•
Focus too heavily on minor (but interesting) issues
•
Rehash case data. I have read the case; therefore case data should not be presented
unless it supports a specific line of reasoning.
•
Include run-on sentences. These are sentences that span more than two lines of text.
What I look for when grading a case analysis:
1. Is the analysis logically consistent and structured so that it effectively sells its
recommendations?
2. Does the analysis incorporate the relevant tools from our toolkit?
3. Are the major issues identified? Are any assumptions upon which the analysis relies
made explicit?
4. Are the criteria for selecting a recommendation stated? Are they appropriate and
linked to the analysis? Is the recommendation specific and practical?
5. Do the exhibits (if any) support your argument? Are analyses in the exhibits
done correctly?
10