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Chapter 13
Corporate
and
Entrepreneurship
Innovation
Michael A. Hitt R. Duane Ireland
Robert E. Hoskisson
©2000 SouthWestern College Publishing Ch13
Chapter 2
External Environment
Chapter 3
Internal Environment
Strategic Intent
Strategic Mission
The Strategic Management Process
Strategy Formulation Strategy Implementation
Chapter 4
BusinessLevel Strategy
Chapter 7
Acquisitions & Restructuring
Chapter 5
Competitive Dynamics
Chapter 8 International
Strategy
Chapter 6
CorporateLevel Strategy
Chapter 9 Cooperative
Strategies
Chapter 10
Corporate Governance
Chapter 12
Strategic Leadership
Chapter 11 Structure & Control
Chapter 13 Entrepreneurship
& Innovation
Feedback
Strategic Competitiveness
Above Average Returns
Ch13
Defining Entrepreneurship
Corporate Entrepreneurship
Firm’s capabilities to develop new goods or services and manage the innovation process
Invention
Creating or developing a new product or process idea
Innovation
Creating a commercializable product from invention
Imitation
Adoption of innovation by a population of similar firms
Ch13
Successful Entrepreneurship
The key to success with entrepreneurship and innovation is moving from the invention of ideas to effective commercialization and acceptance in the marketplace
Ch13
Innovation and Competitive Advantage
Difficult for competitors to imitate
Commercially exploitable with present capabilities
Provides significant value to customers
Competitive Advantage
Timely
Ch13
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