Chapter Resources

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Chapter 1: The Entrepreneurial/Innovative Economy

    • Research Activities
    • Ask five entrepreneurs what the term innovation means to them. Be prepared for a variety of answers. Can differences in the definitions be explained by the “type” of entrepreneur and the specific sector in which they specialize?
    • Find two entrepreneurs from different industries engaging in international business and ask them what impact does innovation and entrepreneurship have on their engagement with national and international economies? Describe how they address the issues in which they are most likely to face in different economies.
    • Study Questions
    • What is the impact of entrepreneurship and innovation on organizational growth and development?
    • How does entrepreneurship and innovation contribute to economic growth and development on a national and international scale?
    • How does the need for entrepreneurship and innovation differ in different economic climates? How can organizations effectively manage these differences while working towards achieving competitiveness?
    • What organizations nationally and globally would you describe as the most entrepreneurially and innovative? Why?

Chapter 2: Creativity and Innovation

    • Research Activities
    • Ask three entrepreneurs in different industries and sector to describe their creativity process and how it has changed as their business has emerged.
    • Ask an entrepreneur about his/ her business today and ask them to describe the decisions and events that led the business from start-up to where it is today.
    • Study Questions
    • What inhibits creativity with the workplace? How can the organization take steps to overcome those factors?
    • What are the most creative and innovative companies of the 21st Century? What makes those companies creative and innovative?
    • Select an organization that you have knowledge of and find a creative way to change either the; product, service or process. In what way does your creative solution and innovation add value to the business and how can that value be captured?
    • What must organizations do to stay ahead and remain creative and innovation in times of change and globalization?

Chapter 3: Innovation and Entrepreneurship in Context

    • Research Activities
    • What are the key factors that distinguish the innovation of a large multinational corporation and a small enterprise? Refer to any two case studies to support your answer.
    • Research the process and strategies of innovation in SMEs and large corporations – what are the key dimensions behind the similarities and differences of such process and strategies?
    • Study Questions
    • What must organizations do to stay competitive and innovative in the current economic environment? Does this differ between SMEs and large corporations? Explain.
    • How can open innovation be successfully undertaken by organizations as they strive for new innovations that will enhance their competitiveness?
    • Is there a differentiation in the process of innovation when pursuing radical innovations compared to incremental innovations? Support your answer with appropriate examples.
    • Select an innovative organization that you have worked in or have experience with and evaluate their link between innovation, technology and market factors in their pursuit of creating value and achieving competitiveness.

Chapter 4: Building and Innovative and Entrepreneurial Organization

    • Research Activities
    • Ask three entrepreneurs whose business has developed and expanded to describe how their structure, systems and culture changed as the business was evolving.
    • Interview a successful entrepreneur and discuss with them how they have continued to achieve success in light of the current global economic downturn. Discuss their attributes to meeting the goals set forth in its strategic plan. What is the company’s core strategy? Identify its indicators of success beyond profitability.
    • Study Questions
    • How can an organization effectively integrate innovation and entrepreneurship with strategy? What potential benefits could this generate for the organization?
    • What is the relationship between innovative and entrepreneurial strategy and customer value? How can the organization achieve this?
    • What type of structures, systems and culture must be in place for an organization to have a clear fit between the integration of innovation and entrepreneurship with strategy and the key organizational characteristics?
    • Explain how an organization can work towards achieving a customer valued driven strategy?

Chapter 5: Developing Innovation and Entrepreneurship in Both Individuals and Teams

    • Research Activities
    • You are launching your product in a new market. Identify how you will have to alter your product, pricing, distribution, and communication. What is the best market strategy for this product? How will you be competitive?
    • Provide a brief overview of the company and their innovation. What major issues should the company continue to address to ensure the survival of the business? What actions should they take next to promote the successful development of the business in the future?
    • Study Questions
    • How can an organization effectively develop individual and team effectiveness that are also market focused and customer oriented?
    • Entrepreneurship and marketing are two fundamental organizational disciplines that are not always aligned within an organization. How can an organization achieve this alignment? What are the implications for an organization that does not align those two disciplines?
    • Chose a sector of your choice to think about the level and depth of market and customer analysis that an innovative and entrepreneurial organizations needs to undertake in order to remain competitive in today’s environment. What influences this level of analysis?
    • Being innovative and entrepreneurial is no longer an option for organizations that want to survive and grow but a necessity. Taking Table 5.3 evaluate an organization of your choice against competitors and discuss what actions your selected organization needs to take in order to remain or achieve competitive advantage.

Chapter 6: Design Thinking and Innovation

    • Research Activities
    • Find another example of an entrepreneur which utilized design thinking. Describe the ways in which he/she addressed the two of the five elements of design thinking.
    • As an entrepreneur, brainstorm of problem that you would like to address. Write a short paper to address the following:
      1. Define the problem. What are the issues you are trying to address?
      2. Develop the options - create several solutions.
      3. Determine the direction - which solution is most promising and why? What is the next best alternative?
      4. Selecting the best solution - Which solution would you select? Why?
      5. Executing - What are the challenges and risks?
    • Study Questions
    • Discuss design thinking and how it would be applied in a specific industry/market context?
    • What are some reasons that more companies are starting to use design thinking?
    • What are the similarities and differences between IDO, IKEA, and Redbox Automated Retail LLC?
    • Given the world today and the projections for the next 5 years, will design thinking continue to play a role?

Chapter 7: Developing New Products, Services and Ventures

    • Research Activities
    • Find the NAIC and SIC codes for one of your innovation ideas.
    • Create a brief outline of the Opportunity Assessment Plan addressing the details of the idea, the problem it solves, and the need it fills. Identify three to five unique selling propositions, the market trends and size.
    • Study Questions
    • Discuss the aspects of the product planning and development process and why its implementation can lead to the development of more new products/services in a company.
    • What are the strengths and weaknesses of using the idea development process?
    • Why is the concept of newness so important in the successful laundry of a new product/service? Give two examples of the impact of newness to consumers, newness to the individual and organization, and newness to the distribution system.
    • Discuss the elements of an opportunity assessment plan and how it can be used in a company setting.

Chapter 8: The Global Business Plan

    • Research Activities
    • Pick a currently existing company, and write a description of the business section of a business plan for the company.  Remember to include the mission statement.
    • Based on the company you chose for research task 1, describe what is innovative about that company.  Mention at least three unique selling propositions.
    • Study Questions
    • What is the reason for writing a global business plan?
    • What are the elements of a global business plan? Which ones may not occur and for what reasons?
    • How would a global business plan for a start-up company differ from one for an existing company?

Chapter 9: International Opportunities for Innovation and Entrepreneruship

    • Research Activities
    • Research the policy statements of your local and national governments for their goals and objectives regarding the importance of innovation and entrepreneurship and means of driving and supporting it in today’s global economy.
    • Speak to people from five different countries and ask what innovation and entrepreneurship means to them and how their national culture supports and/or inhibits entrepreneurship
    • Study Questions
    • Discuss the challenges an organization may face when moving from a national to an international global business. How can an organization effectively manage those challenges?
    • What is the driving force that leads an organization to expand their business globally?
    • How can an organization determine innovation and entrepreneurial performance?
    • What are an organization’s performance indicators as the various stages of the innovation process? Why is it important to measure performance throughout the innovation process?

Chapter 10: The Future Impact on Innovation on Cosumers, Business and Government

    • Research Activities
    • Describe how a company (that is not mentioned in this chapter) open innovation.
    • Find another example of reverse innovation and describe the product.
    • Study Questions
    • Discuss the impact of innovation on consumers. Provide two examples in two different countries.
    • Discuss the role of social networks on innovation today. What will be the influence in the future?
    • Describe and give two examples of open innovation.
    • How important is innovation for emerging markets? Provide three examples that support your position.
    • What will be the role of innovation in the next decade? How will it differ from its role to date?

Authors: Robert D. Hisrich and Claudine Kearney

Pub Date: July 2013

Pages: 232

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