Entrepreneurship is not just needed at start-ups but also at established large firms. It is termed as intrapreneurship. This intrapreneurship is the case of proactively acting like an entrepreneur within the confines of a large firm. This helps organizations to keep pace with nimble-footed start-ups that are digital natives. Business innovations thrive when individuals take up ownership of work and establish newer streams. Google has a “20% time” formula where employees need to spend a fifth of their time on such innovations, while at Facebook several such new ideas emerge out of their hackathons. Such value creation need not be purely by building from scratch or by investing own money. Companies must actively introduce such intrapreneurship. Some such measures could be Idea fairs, Sandbox funds or hackathons. Even large corporations cannot often see beyond their origin. Google for example still earns a huge portion of its revenues from searches. Kodak and Lehman Brothers eventually folded due to the inability to see beyond their traps of origin. That is why such intrapreneurship is crucial.

Source:http://mitsloan.mit.edu/newsroom/articles/a-guide-to-intrapreneurship/?utm_source=mitsloantwitter&utm_medium=social&utm_campaign=intrapreneurship

Uploaded Date:04 July 2018 

Learning must be a lifetime vocation, with real-world experiences always the best instructors to entrepreneurs. Now due to the proliferation of online courses, constant learning is no longer just a buzzword, but a reality. Some such courses have been identified, beginning with Coursera’s “learning how to learn”. An intro to Artificial Intelligence (AI) course is available at Udacity, facilitated by Stanford University, but with a prerequisite of an academic background in related subjects. Udacity also has a programme on learning content-based digital marketing. Google has a specific IT professional certification, while Udemy runs a crowdfunding course for Indiegogo and Kickstarter. There is one workshop on killer business ideas, and another on time management. Future Learn does one on ethics and Lynda.com on critical thinking. A must for anyone working with business analytics is the course on GDPR (General Data Protection Regulation) offered by an arm of the EU. Other courses exist on body language, virtual reality, well-being, crisis management andblockchain.

Source:https://www.entrepreneur.com/article/314617

Uploaded Date:22 June 2018

Several companies are grappling with methods to develop innovations, because in the digital age survival without constantly improvising is not possible. However, few of these innovations are proving scalable. So, finding the balance between business innovation and company sustainability is a massive challenge, few can crack. One such success story is the Seven Dreamers Laboratories in Japan founded by Shin Sakane.      Seven Dreamers has now created a laundry-folding robot. This project has even received a US$ 60 billion funding. Sakane firmly believes in the maxim that themes are more important than technology. That is why this latest innovation was developed as it is a primary need for people. People must feel happy to use. The development in engineering terms must be complicated, otherwise too many others will jump in the bandwagon as happened with selfie sticks.

Source:https://www.strategy-business.com/article/Can-a-Laundry-Folding-Robot-Improve-Your-Life?gko=adb01

Uploaded Date:19 June 2018

All kinds of entrepreneurs need to find their niche as many in the early 2000s did through lean management methods. So, a few researchers from INSEAD have created a “theory of entrepreneurship” where different styles and approaches may be fitted in. It is a 2×2 matrix which eke out the regime of search needs. The four regimes have been cast as- imitative, hypsometric, cartographic and paradigmatic search. A cupcake shop is an example of imitative as costs and experiment uncertainties both remain low. At the hypsometric regime, there remain moderate levels of uncertainties but the costs still remain low. Examples abound such as Netscape, Yahoo, Facebook and My Space. High uncertainties and medium to low cost levels are characteristics of the cartographic regime. Examples include Space X and Stratasys. Business innovation level becomes the key differentiating factor at the paradigmatic search regime. Disruptive changes are born at this stage. An entrepreneur must know one’s vulnerabilities and the extent of one’s comfort landscape.

Source:https://knowledge.insead.edu/entrepreneurship/finding-your-space-on-the-entrepreneurial-map-4906

Uploaded Date:14 June 2018