Intrapreneurship and Entrepreneurship Essay Example | Topics and Well Written Essays - 1750 words

Intrapreneurship and Entrepreneurship - Essay Example Still, entrepreneurship is limited in resources (including financial resources) and has fewer possibilities to compete on the global scale. The paper will discuss differences of concepts, their piratical application, the main driven forces and risk related factors. The study of new venture development and entrepreneurship as a process, and the study of the early stages of the business life cycle, belong as much or more to marketing than to any other business function. Indeed, some argue that the very term management may be somewhat in definitional conflict with the term entrepreneurship (Clark and Lee 2006). Further, the entrepreneurial spirit can be hypothesized that marketing is the organizational function most dominated by boundary agents; by open interactive systems; and by truly entrepreneurial activity. Market opportunity analysis, new product development, the diffusion of innovation, and marketing strategies to create growing firms are at the heart of both marketing and entrepreneurship. These also represent the most relevant, existing marketing literature bases. Entrepreneurship as defined by Burns (2001) focuses on opportunity and is therefore particularly relevant to the marketing interface; it is the process of creating value by com bining resources to exploit an opportunity. Although entrepreneurship requires innovation, not all innovation is entrepreneurial. There is an extensive body of knowledge on creativity in science and the arts that does not involve "the commercial or industrial application of something new--a new product, process, or method of production; a new form of commercial, business, or financial organization" (Burns 2002, p. 54). Pinchot and Pellman (2000) explain that "intrapreneurs are linked to the speed and cost-effectiveness of technology transfer from research and development to the marketplace" (p. 45). The researchers claim that Intrapreneurship is often associated with inventions that come up with new products and new processes. There is also considerable research on innovation and the management of research and development that deals with an end product of ideas or objects whose ability to deliver economic value has yet to be tested. In the entrepreneurship literature, innovation is coupled with its ability to create economic v alue. Whether done by an individual or a team, there is general agreement that entrepreneurship involves an act by a motivated individual who innovates by creating value through