Mbve707
MBVE 707
Corporate Venturing
The New Economy Approach to Business
Gary Biernat mrbiernat@aol.com Fall 2001 1. Course Rationale
Organizations worldwide have experienced dramatic structural changes in an effort to find the magic bullet of sustainable growth. Today we have witnessed a variety of best practices all aimed at transforming the competitive and productive nature of the organization; from Six- Sigma, TQM, Just- in- Time, ISO, Quality Teams, Right- sizing to Re-engineering and more. However as Michael Porter the business strategist has suggested, all these improvements are necessary but not sufficient for the transforming the organization. Porter submits that companies must develop innovative strategies or alter existing strategies with innovative tactics to re-energize the company. To this end, it is becoming apparent to many organizations that unleashing the entrepreneurial spirit within each employee towards innovative organizational strategies, and corporate start-ups can transform the entire organization.
New entrepreneurial businesses from Silicon Valley in the West to the Medical Alley in the East and have sprung up to capture customer value by applying the new entrepreneurial business model. Business writers have coined the word new economy for many of these upstart firms. Established organizations too are developing new economy growth strategies. Many companies have learned that entrepreneurial thinking can coexist and thrive within the corporate structure. Gifford Pinchot originally coined the word intrapreneuring, the pursuit of innovation and entrepreneurship within a company, in his 1985 book on organizational innovation. Building on these ideas, author Gary Hammel has proclaimed that the secret to today’s wealth creating companies is through radically changing the basis of competition through innovation. Corporate Venturing, which encompasses many of the new economy strategies, is now so meaningful to larger organizations
Corporate Venturing
The New Economy Approach to Business
Gary Biernat mrbiernat@aol.com Fall 2001 1. Course Rationale
Organizations worldwide have experienced dramatic structural changes in an effort to find the magic bullet of sustainable growth. Today we have witnessed a variety of best practices all aimed at transforming the competitive and productive nature of the organization; from Six- Sigma, TQM, Just- in- Time, ISO, Quality Teams, Right- sizing to Re-engineering and more. However as Michael Porter the business strategist has suggested, all these improvements are necessary but not sufficient for the transforming the organization. Porter submits that companies must develop innovative strategies or alter existing strategies with innovative tactics to re-energize the company. To this end, it is becoming apparent to many organizations that unleashing the entrepreneurial spirit within each employee towards innovative organizational strategies, and corporate start-ups can transform the entire organization.
New entrepreneurial businesses from Silicon Valley in the West to the Medical Alley in the East and have sprung up to capture customer value by applying the new entrepreneurial business model. Business writers have coined the word new economy for many of these upstart firms. Established organizations too are developing new economy growth strategies. Many companies have learned that entrepreneurial thinking can coexist and thrive within the corporate structure. Gifford Pinchot originally coined the word intrapreneuring, the pursuit of innovation and entrepreneurship within a company, in his 1985 book on organizational innovation. Building on these ideas, author Gary Hammel has proclaimed that the secret to today’s wealth creating companies is through radically changing the basis of competition through innovation. Corporate Venturing, which encompasses many of the new economy strategies, is now so meaningful to larger organizations