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

The Entrepreneurial Process

As is indicated in the case of Google, organizations are interested in creating an environment that will empower all employees to act entrepreneurially and to pursue the entrepreneurial process inside the organization. The process of starting a new venture is embodied in the entrepreneurial process, which involves more than just problem solving of a typical management position. This process has four distinct phases: (1) identification and evaluation of the opportunity, (2) development of the business plan, (3) determination of the required resources, and (4) management of the resulting enterprise (see Figure 3.1). Although these phases proceed progressively, no one stage is dealt with in isolation or is totally completed ...