Review the following information: Introduction: Strategic entrepreneurship involves taking entrepreneurial actions using

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Review the following information:
Introduction:
Strategic entrepreneurship involves taking entrepreneurial
actions using a strategic perspective. Firms using strategic
entrepreneurship simultaneously engage in opportunity-seeking and
advantage-seeking behaviors. The purpose is to continuously find
new opportunities and quickly develop innovations and exploit
them.
Identifying opportunities to exploit through innovation is the
entrepreneurship dimension; determining the best way to
competitively manage the firm's innovation efforts is the strategic
dimension.
Purpose:
The fact is that younger entrepreneurial ventures generally
excel in the taking of entrepreneurial actions, while larger, more
established firms generally excel at using strategic actions.
Understanding and managing the entrepreneurship and strategic
dimensions is critical to ensuring that an innovation will provide
value to an organization.
Skills:
In this discussion, you will have the opportunity to practice
valuable strategic management skills, including:
Group Project Instructions
Getting Started:
There are three ways firms innovate - internally, through
cooperative strategies, and by acquiring other companies.
Innovation and entrepreneurship play a critical role in the
degree of success achieved by both established and startup firms.
The essence of entrepreneurship is to identify and exploit
opportunities.
In this exercise, you will have the opportunity to research and
analyze both an established firm and an entrepreneurial firm and
compare the strategies they utilized to successfully achieve and
commercialize an innovation.
Activity Steps:
Step A: Conduct research to find one
start-up company (less than 5 years in business) that has
effectively used strategic entrepreneurship and one more
established company (20+ years in business) that has done so.
Step B: Compare and contrast the two organizations based on the
concepts of the chapter, including:
Step C: Report your findings. Be sure
to:
Highlight the major points of similarity and difference between
your two firms and their approaches to entrepreneurship and
innovation.
_____________________________________________________________________________________
After reviewing the above information, answer the following
questions:
1. Conduct research to find one start-up company (less than 5 years
in business) that has effectively used strategic entrepreneurship
and one more established company (20+ years in business) that has
done so.
2. Compare and contrast the two organizations based on the concepts
of the chapter, including:
• Invention, innovation and imitation
• Incremental and radical innovation
• Autonomous and induced strategic behavior
• Cross-functional product development teams
• Innovation through cooperative strategies
• Innovation through acquisition