全球战略管理ppt5

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Entrepreneurial Strategies: Innovation
Advantages of an innovation strategy
Creates a more sustainable competitive advantage
Technological breakthroughs and organizational innovations (new ways of doing business)
Growth Innovation Network Financing/governance Harvest/exit A sixth strategy, internationalization, will be covered in the next section
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Entrepreneurial Strategies: Growth
Institution-based considerations
Formal institutions govern new ventures
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Striking differences in government
Resource Based Model of E’ship
General conclusions: Level of entrepreneurship affected by:
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Entrepreneurial Activity
AN AMERICAN CHASING THE CHINA DREAM With Chinese partners hiring management team and building factory, capital and marketing from Morris and employer 2007 – US quality, China price 40 employees, $2m annual revenues End 2007 Morris sold interest 2008 another China venture with a friend
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A Comprehensive Model of Entrepreneurship
Figure 5.1
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Skiing in Africa!
South Africa and Lesotho Creating ski resorts in areas where snow is patchy Use of artificial snow Creating untapped demand? Loses novelty value as others copy?
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Entrepreneurial Strategies: Innovation
An innovation strategy is a specialized form of differentiation strategy
On average, there is a positive relationship between a high degree of innovation and superior profitability
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Entrepreneurial Activity
Not the exclusive domain of small, young firms Small and medium-sized enterprises (SMEs) globally (less than 500)
95% of all firms Create 50% of total value added Generate 60-90% of all employment Each year 4-6% of adult working population in North America and Europe start a new venture
Growing and Internationalizing the Entrepreneurial Firm (5)
GSM
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Acknowledgement
The following slides are based on Power Point slides, copyright Deng (2009), and Original slides prepared by the Lecturer
Intentionally construct and tap into relationships, connections and ties that individuals and organizations have developed Translate personal networks into value-adding organizational networks
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Outline
Entrepreneurship, entrepreneurs, and entrepreneurial firms A comprehensive model of entrepreneurship Five entrepreneurial strategies Internationalizing the entrepreneurial firm
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Entrepreneurial Activity
Entrepreneurship also exists in large firms International entrepreneurship
Innovative, proactive, and risk-seeking behavior that crosses national borders Intended to create wealth
Consumer preferences Effective pricing Capacity needed No guarantees
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Resource Based Model of E’ship
Resource-based considerations
Entrepreneurial resources must create VRIO (value, rare, inimitable, organizationally embedded) Signs of credibility: specialization, reputation, alliances, etc.
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Entrepreneurial Strategies: Network
Distinguishing characteristics
Needed to overcome liability of newness Intensity of relationships is important Networks represent significant resources and opportunities May lead to successful entrepreneurial performance Centrally located network positions are most helpful
Leabharlann Baidu
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Entrepreneurial Activity
Entrepreneurship - the identification and exploitation of previously unexplored opportunities Entrepreneurs - set of individuals who discover, evaluate, and exploit opportunities
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Outline
Debates and extensions The savvy entrepreneur
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Learning Outcomes
At the end of this session Students should have an understanding of: Entrepreneurship –theories and practices
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Resource Based Model of E’ship
Industry-based considerations
Intensity of inter-firm rivalry Fewer incumbents, more likely to collude to keep out newcomers Entry barriers: capital intensive Bargaining power of suppliers: how to reduce it
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Resource Based Model of E’ship
Bargaining power of buyers: how to reduce it Threat of substitute products/services
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Resource Based Model of E’ship
Cautions: Factors underlying the above five forces may be unknown
Attempt to utilize resources and capabilities
Entrepreneurial vision Entrepreneurial drive Entrepreneurial leadership
Hallmarks of growth
Dynamic, flexible, guerilla strategy Emphasize action, not analysis - emergent strategies
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Entrepreneurial Strategies: Growth
Cautions
Avoid over-aggressiveness Embrace uncertainties, but avoid excessive risk Carefully stage and sequence risky projects
Founders and owners of new businesses and managers of firms with fewer then 500 employees
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Entrepreneurial Activity
AN AMERICAN CHASING THE CHINA DREAM Mike Morris – USA – heads China operations in 2002 of small gifts and accessories firm Products assembled in China with components made in Japan, HK, Taiwan, USA 2002-2004 set up own supply chain firm within China with employer’s support
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Entrepreneurial Activity
Only a small number of entrepreneurial firms survive
Yr 1- between 78% (0-9 employees) and 100% (250+ employees) Yr 4 – 50% (0-9 employees) and 70% (100-249 employees)
Economic developments Harshness of regulations Friendliness of formal institutions Support of informal institutions (values and norms)
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Five Entrepreneurial Strategies
Owners, managers, and employees at entrepreneurial firms are more innovative and risk-taking than those at large firms
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Entrepreneurial Strategies: Network