Number 6 – E


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Number 6 – E 1 answer below » same tutor as assignment 83 Part 1 N 6 E: When we think of entrepreneurship, we often think of small, start-up firms. Describe how a large corporation in an established industry can be “entrepreneurial” and discuss how Peng’s entrepreneurial strategies apply in this situation. Remember to use in-text citations and list APA style references to support your response. Part2: Reply to the below discussions of the students each discussion around 50 words Discussion 1 Student May: Entrepreneurship in large corporation The global economy is creating profound and rapid changes for organizations and View complete question » same tutor as assignment 83 Part 1 N 6 E: When we think of entrepreneurship, we often think of small, start-up firms. Describe how a large corporation in an established industry can be “entrepreneurial” and discuss how Peng’s entrepreneurial strategies apply in this situation. Remember to use in-text citations and list APA style references to support your response. Part2: Reply to the below discussions of the students each discussion around 50 words Discussion 1 Student May: Entrepreneurship in large corporation The global economy is creating profound and rapid changes for organizations and industries all over the world. The answer to today’s fast-changing and competitive environments is adaptability, flexibility, risk taking, proactivity, competitive aggressiveness and innovativeness – in one word: entrepreneurship (Morris and Kuratko, 2002). However, entrepreneurship does not necessarily mean only independent activity, it involves also entrepreneurial activities conducted in larger organizations ( Stevenson and Jarillo, 1990). The challenge for today‘s organizations is to achieve competitive advantage that must be further recreated through the initiation and implementation of new ideas. According to Peng there are five Entrepreneurial Strategies which are : 1. Growth : the growth of an entrepreneurial firm can be viewed as an attempt to more fully utilize currently underutilized resources. 2. innovation :An innovation strategy is a specialized form of differentiation strategy 3. network : Intentionally construct and tap into relationships, connections and ties that individuals and organizations have developed 4. financing/governance:International differences in extent to which entrepreneurs draw on resources of family/friends versus outsiders. Outside investors usually demand collateral or some other assurance 5. harvest/exit: Entrepreneurs must think about their exit plan early in the business cycle and aim at maximizing the gains from their labor. It is very important to know that these strategies are not mutually exclusive and that they are often pursued in combination by entrepreneurial firms (Peng,2014) References: Morris, M. H., Kuratko, D. F. (2002). Corporate entrepreneurship – entrepreneurial development within organizations. Fort Worth, Texas: Harcourt, Inc. Peng, M. (2014). Global Strategy (3rd ed.). Mason, OH: Cengage Learning. ISBN-13: 9781133964612 Stevenson, H. H., Jarillo, J. C. (1990). A paradigm of entrepreneurship: Entrepreneurial management. Strategic Management Journal, 11: 17-27. Discussion 2 Student Mon: Entrepreneurship can be defined as the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses. Entrepreneurship combined with land, labor, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a nation’s ability to succeed in an ever changing and increasingly competitive global marketplace. Entrepreneurship is especially crucial for large companies, enabling these organizations – that are traditionally averse to risk-taking – to innovate, driving leaders and teams toward an increased level of corpor…

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