Designing a career path for corporate entrepreneurs

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Из курса от партнера University of Maryland, College Park

Developing the Opportunity for Corporate Entrepreneurs

45 оценки

University of Maryland, College Park

Developing the Opportunity for Corporate Entrepreneurs

45 оценки

Курс 1 из 5 — Specialization Corporate Entrepreneurship: Innovating within Corporations

For an increasing number of established companies, creating new businesses and programs within the company is an imperative for success. Maturing technologies and aging product portfolios are requiring established companies to create, develop, and sustain innovative new initiatives. In this course, learners will develop knowledge on how to navigate the barriers to creating, developing, and sustain innovative new businesses and programs within established companies or organizations with an emphasis on: • Introducing the skills for identifying and analyzing entrepreneurial ideas within a corporate environment; • Examining entrepreneurial thinking within yourself and your colleagues with an awareness of entrepreneurial mindset, entrepreneurial motivations, and entrepreneurial behaviors; • Cultivating seeing entrepreneurially within yourself and your colleagues with attention to industry conditions, industry status, macroeconomic change, and competition; and • Championing acting entrepreneurially within the corporate environment with an understanding of value innovation and opportunity identification. Try this course for FREE at https://www.coursera.org/learn/corporate-entrepreneurs-opportunity

Из урока

Thinking Entrepreneurially

Examine entrepreneurial thinking within yourself and your colleagues with an awareness of entrepreneurial mindset, entrepreneurial motivations, and entrepreneurial behaviors

Designing a career path for corporate entrepreneurs7:39

Do you have a high need for achievement?10:01

How does individualism influence your decision-making?7:22

Do you believe that you have control of your own destiny?9:25

Are you able to effectively focus your time and resources?8:34

Do friends characterize you as an optimist?9:41

Познакомьтесь с преподавателями

Dr. James V. Green
Director of Entrepreneurship Education
Maryland Technology Enterprise Institute

We want to emphasise the role of the individual, the entrepreneurs themselves.

And what do we as a corporation do to attract them, to retain them and

to support them in the pursuit of their entrepreneurial ideas and

activities within the organisation?

So when we look at the opportunity analysis canvas,

it's a comprehensive perspective on how to build a variety of different

skills with thinking and seeing and acting enterpreneurly.

But you need the individuals there to make it happen and

to bring these ideas into practise.

And a key question for many entrepreneurs and

innovators within organisations is, why stay?

Corporate entrepreneurs tend to be innovators,

tend to be perhaps, mavericks, that want to take their ideas and run with them.

And if they can't run with them efficiently and effectively within

the organisation, they might run with those ideas outside of the organisation.

They may go on to form their own companies.

And it's not unprecedented that groups of employees may leave together

to form their own companies and in some cases,

even to compete the individual organisation that they left.

One of the hallmark examples of this is Adobe Systems.

So the founders of Adobe, John and Charles, had the idea for

Adobe with the employer that they were with at that time.

The employer was not particularly interested in their ideas and

they left and they started Adobe that has an annual

revenue of today of over $5 billion and

a market cap or a company value of over $50 billion.

A $50 billion opportunity lost by a couple of guys that had an idea that

wasn't supported by their organisation.

What we find is that most companies,

most large companies could do better in managing their innovation talent.

What we find is that there are tremendous opportunities for

intrapreneurs, tremendous opportunities for individuals within organisations

that want to be entrepreneurial, to bring new products to market.

There are technical opportunities.

There might be a technical team or

technical staff that can help bring their ideas into action.

There are marketing opportunities of a brand, that they can work within,

of a marketing team, a marketing talent, or

money to hire a marketing agencies to work with, to bring their ideas into action.

There are financial systems in play, to support them and

encourage the development and the realisation of their ideas and

other related support systems, that most start-ups are not able to compete with.

But what we also find is that many of these innovators, and

many of these entrepreneurs may not want to be general managers.

They may not want to move up the ladder in the corporation if up that

ladder brings responsibilities that they may not be interested in.

They may not be interested in doing ten performance reviews every quarter.

They may not be interested in spending most of their days in meetings.

They might not be interested in spending most of their days on Excel and

PowerPoint.

If that's what they perceive managers to do within their organisation,

they want to build, they want to create, they may want to innovate instead.

So a big equation is what do these innovators want?

What are the various factors and forms, and

inputs and outputs that these innovators and these corporate entrepreneurs want?

So we want to recognise that while this is not universal,

many of them simply want to create and innovate.

They're not necessarily aspiring to the senior management positions in a typical

sense and many organisations are beginning to

recognise that there is more than one path of success.

You see, a number of organisations, a number of large companies,

this is Halliburton, is one example.

But there are other law companies, consulting companies, tech companies

that are giving multiple ladders if you will, to progress within the organisation.

It may come with bigger titles, it may come with bigger paychecks,

it may come with bigger bonuses, but

it doesn't come with the traditional title which was the management track where you

move from being a technical person to a manager, to a principal or a partner or

a director or a VP or whatever the lingo may be within that organisation.

Then a separate parallel technical tract was developed, and

this is something that's been in practice for a decade or

two, where they realised that people with high technical acumen and

technical capability deserve bigger salaries, deserve bigger titles,

deserve more recognition, but deserved it perhaps in a different context that was

more interesting or more attractive for them.

So instead of being a manager, they became an adviser.

Instead of becoming a principal, they became a senior adviser.

Instead of becoming a partner or a director or a VP,

they become a chief adviser or a chief technical adviser or a chief scientist.

So in that way, there were multiple tracks that were presented,

that differentiated an avenue to success within the organisation of people

that were technically motivated versus those that were managerially motivated.

I would argue perhaps there's a third track of something that is along the lines

of being a corporate innovator or an entrepreneur.

And those tracks might be down the path of having innovators or senior innovators or

chief innovators or other derivatives of these titles that enables the organisation

to have people that can add value, that can look at new products and

look at new markets and look at new technologies and

bring new things to bear, but they may do it in a different way than

the traditional hierarchical structure of the organisations established.

This is one example of some things that might be able

to be done within an organization to add new paths and

new structures and to really answer this question of how to add new rewards.

With 3M, we've talked about them a little bit, but

what they do is they add some title, they add some money,

they add some recognition and rewards and those are all good things.

There may be non-monetary things that can also be put in play to recognise and

motivate your entrepreneurs within the organisation.

It might be some element of title or status or awards or recognition or

ceremonies, so a variety of tools that can be assistive, both monetary and

non-monetary of rewarding and recognising entrepreneurship.

And it all comes to answering this question of why stay.

What's there within the organisation beyond maybe a steady paycheck of

Inspiring entrepreneurship, of rewarding entrepreneurship, of appealing to

the interest of these people that are doing things that are a bit higher risk,

that hopefully are higher reward by making sure that it's not only higher reward for

the organisation, but

higher reward for that entrepreneur and that innovator themselves.

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