全球战略管理ppt5

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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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Entrepreneurial Strategies: Innovation
Advantages of an innovation strategy
Creates a more sustainable competitive advantage
Technological breakthroughs and organizational innovations (new ways of doing business)
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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
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
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 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
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
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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
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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
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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
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.
Economic developments Harshness of regulations Friendliness of formal institutions Support of informal institutions (values and norms)
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Five Entrepreneurial Strategies
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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A Comprehensive odel 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: Growth
Cautions
Avoid over-aggressiveness Embrace uncertainties, but avoid excessive risk Carefully stage and sequence risky projects
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
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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
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