Discussion based on: based on Ireland, R. D., Covin, J. G., & Kuratko, D. F. (2009). Conceptualizing corporate entrepreneurship strategy. Entrepreneurship theory and practice, 33(1), 19-46.
Discussion question: In this article, Ireland, Covin, and Kuratko elaborate on the three fundamental aspects of corporate entrepreneurship strategy: an entrepreneurial strategic vision, a pro-entrepreneurship organizational architecture, and entrepreneurial processes and behavior as exhibited across the organizational hierarchy. Discuss these three elements (their composition, significance, relevance, etc.), using examples, and give your concluding analysis. The originality of your interpretation of the concepts is important, as is the depth of your discussion. In addition, respond in detail to another’s analysis.
The article and the discussion rubric is attached.
I also need a 2 paragraph response to the follow posts:
This article discusses the three elements that complete the corporate entrepreneurial strategy. Corporate entrepreneurship is behaviors through which opportunities are identified and exploited, new resources are discovered and sustained. This can be done by creating new opportunities in terms of offering new services and creating new product categories in an already existing organization. A corporate entrepreneur strategy is a focused company-wide implementation of corporate entrepreneur behaviors that helps the organization continuously keep up with new technologies and market trends while tapping into its full potential. The three elements that help build the corporate entrepreneurial strategy are entrepreneurial strategic vision, Entrepreneurship organizational structure, and entrepreneurship processes and behavior.
Entrepreneurial strategic vision can be best described as an organization’s commitment to innovation and entrepreneurial processes & behavior that is expressed as the organization’s way of doing things. This vision represents a specific entrepreneurial mindset towards a business rather than a specific strategic commitment. These visions also describe the type of company that top-level managers hope to lead, which is an opportunity-focused, innovative, and self-renewing organization. For the vision to emerge, top-level management must possess pro-entrepreneur cognition, which is managers’ personal positive attitude toward entrepreneurship. This vision also comes as a response to three related environmental conditions, which are, competitive intensity, technological change, and evolution. These environmental changes are triggers that in the presence of pro-entrepreneur cognition among managers lead to the emergence of entrepreneurial strategic vision.
A pro-entrepreneurship organizational architecture can be described as an organization’s internal environment and context that exhibit certain attributes which encourage entrepreneurial behavior. Creating an effective architecture involves integrating your companys hardware elements such as characteristics of organizational structure and software elements such as culture and climate. This integration is often the hardest part of creating the corporate entrepreneurship strategy. The strategic vision is essential for a successful organizational structure. Some of the elements that define an organizational architecture are structure, culture, resources, and systems. Many structural attributes are linked to innovation activity in an organization and the single aspect of the structure is how organic the organizational structure is. Organicity in any given company implies decentralized decision-making low formality and wider spans of control. These attributes of organicity are linked to organizations that exhibit entrepreneurial behaviors. Culture, resources & capabilities, and reward systems also play a big role.
A pro-entrepreneurship architecture is an organizational context through which the entrepreneurial strategic vision is translated into specific entrepreneurial processes and behaviors. An entrepreneurial strategic vision may also have a direct effect on entrepreneurial processes and behavior. This is successfully achieved when managers develop and clearly communicate their strategic vision which provides guidance and encouragement to organizational leaders for entrepreneurial actions. This is also where the recognition and exploitation of opportunities take place by the members of the organization. All these three elements come together and play a significant role in developing a corporate entrepreneurial strategy. It is top-level managers that bear the responsibility for creating an environment where entrepreneurship is promoted.
(2) Jamie’s post:
First, Corporate Entrepreneurship is defined as a vision-directed, organization-wide reliance on entrepreneurial behavior that purposefully and continuously rejuvenates the organization and shapes the scope of its operations through the recognition and explanation of entrepreneurial opportunity.
An entrepreneurship strategic vision is the first of three concepts in understanding corporate entrepreneurship. This concept outlines the knowledge structure that people in an organization will use to make assessments, judgments, or decisions involving opportunity evaluations, venture creation, and growth. (Mitchell, et al., 2002). Beliefs about entrepreneurial matters are about matters in which judgments are made. Entrepreneurial attitudes denote entrepreneurial values. This can reflect a positive attitude towards entrepreneurial cognitions. A strategic vision can be seen as a commitment to innovation among the entrepreneurial processes and the behaviors that are expressed as an organization’s philosophy. (Meyer and Heppard, 2000). Top level managers can get a broader picture of what type of an organization they want to lead into the future. Visions for company growth can come from top managers which are favorable in adding value to an organization as a whole. The proposition is then stated that the strength of top-level, managers pro-entrepreneurship cognition is positively related to the emergence of and entrepreneurial strategic vision.
Pro entrepreneurship organizational architecture cognitions are not solely within the cognitive domain of top-level management. Any other persons within the organization can manifest cognitions. This can be a reflection of an organizations culture. The culture within an organization reflects the shared basic assumptions that a collective body has developed to denote appropriate ways to identify and cope with issues and opportunities. (Schein, 1985). Therefore, proposition states that the strength and organizational members pro-entrepreneurship cognitions is a positive correlation related to the strength of cultural norms favoring entrepreneurial behavior.
Entrepreneurship processes and behaviors as exhibited across the organization hierarchy. Many specific actions can manifest entrepreneurial behaviors. If members of an organization harbor pro-Entreprenurial opportunities, defined by (Eckhardt and Shane 2003, pg. 336) as “situations in which new goods, services, raw materials, markets, and organizing methods can be introduced. Individuals that recognize an opportunity is a function of how they will play into the success of the organization. Therefore, a proposition is made that the strength of an organization’s members is positively related to the likelihood that those individuals will recognize and seek to exploit entrepreneurial opportunities.
In conclusion, all of these concepts are crucial to the sucess and competitive advantage of a company. A firm will want to hire and promote individuals that will have the spirit of an entrepreneur to place the firm above its competition. Managers can plan and be strategic, but an Entrepreneurial Manager can be an innovator and creator above all else.