The analyzed video is based on Bill Aulet, MIT’s managing director and professor of the practice, personal vision, and strategies of fostering corporate entrepreneurship. He starts with defining the greatest misperception about entrepreneurship, which is the common belief that it equals the start-up. Corporate entrepreneurship (CE) encompasses the skill set focused on assembling assets and executing that to generate new and exclusive products for the market. Based on such a strategic perspective, entrepreneurs can exist everywhere, whether in non-profits, government, academia, or large corporations. Dess et al. define two primary aims of CE: the “pursuit of new venture opportunities and strategic renewal” (362). Moreover, the professors engage the previously examined aspects of strategic management, such as corporate culture, leadership, and organizational systems that foster learning, like those that determine the development of entrepreneurial projects.
According to the professor, entrepreneurship is more associated with the mindset and spirit of oneself and the willingness to be different. Many corporations address critical challenges with entrepreneurship, such as Boston-based GE. Aulet highlights the need for big companies to become more entrepreneurial for the current society, for instance, in the healthcare and energy sectors because they tend to create breakthrough products and innovations. More specifically, the major obstacle to CE is short-termism because companies are less concentrated on employee training, research and design, and other critical strategies due to the emphasis on quarterly earnings. With that said, the primary focus for fostering corporate entrepreneurship is taking the assets of the target organization and creating value. The proper solution implies a concerted effort to promote entrepreneurial thinking and develop an insufficient body of knowledge and practice.
Works Cited
“Bill Aulet: How to Foster Corporate Entrepreneurship.” YouTube, uploaded by MITSloan, 2018, Web.
Dess, Gregory, et al. Strategic Management: Text and Cases. 9th ed., McGraw-Hill Education, 2018.