Corporate Entrepreneurship: How to Create a Thriving Entrepreneurial Spirit Throughout Your Company

Determine and Evaluate Resource Requirements

All entrepreneurs need to determine the resources required for addressing the opportunity. This process starts with an appraisal of present financial and nonfinancial resources (e.g., technical skills, team competencies, licenses, patents, customer contacts, and location). Care must be taken not to underestimate the amount and variety of those resources needed. While for the corporate entrepreneur, sponsorship from a senior executive can be the most valuable resource, for the social entrepreneur, government support can be a more significant resource. Some of the most critical entrepreneurial behaviors involve leveraging resources, thus allowing concepts to move toward development without major financial ...