need for entrepreneurship and innovation

• taking advantage and capitalize on any window of opportunity that emerges to survive, develop and grow
  • knowledge based economy
  • rapid tech change
  • increased global comp
  • market boundaries vague
  • demands constantly changing
  • shorter life cycles

strategies set in place to succeed

• where org wants to go
• how it plans to get there

(integration of entrepreneurship and innovation with strategy enhances organization’s success and value)

→ without, company isnt as competitive or different from competitors

external environments

• no organization is isolated from external environment, and there is continuous pressure to adapt and change to survive/grow
  1. political
  2. economic
  3. social
  4. technological
  5. regulatory
  6. competitive
  7. supplier

company culture:

• management support
• flexible organizational structures
• systems that permit and create change

creating culture:

• fewer organizational layers
• open channels of communication