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Showing posts with the label Entrepreneurship

Idea 19 - Entrepreneurship (50 Management ideas you really need to know)

Idea 19  -  Entrepreneurship Entrepreneurs fizz with ideas. They take chances. They're driven, energetic, nimble and inspiring. Big business is - well, it's big. Its first instinct is to protect itself, so it's careful and conservative. It's slow to respond and quick to squelch daring ideas. How do you ignite the spirit of the entrepreneur inside something like that? It's not easy, but there is an answer: 'corporate entrepreneurship'. Joseph Schumpeter extolled the virtues of entrepreneurs back in 1911. The most compelling reason for large companies to become more entrepreneurial is to spot opportunities in their own markets before anyone else does. The big boys can tell many horror stories about what happens when they don't pay attention. One of the grisliest concerned Johnson & Johnson, which once enjoyed over 90% market share in metal stents (a tube that keeps clogged arteries open). When a competitor got approval for a next-generation d