ADM 1300 Chapter Notes - Chapter 5: Organizational Culture, Divergent Thinking, Simplex Algorithm

• School: University of Ottawa
• Department: Administration
• Course: ADM 1300
• Professor: Gerard Brathwaite- Sturgeon

Document Summary

Embrace the capacity of entrepreneurial thinking and practices to add value in both new and existing organizations. Identify opportunities and build the business case for launching an entrepreneurial/intrapreneurial venture. Choose appropriate organizational structures to support an entrepreneurial culture. Make appropriate choices in leading an entrepreneurial venture. Deploy appropriate control structures to respond to the unique challenges faced by entrepreneurial ventures. Entrepreneurship: the process of starting new organizations, generally in response to opportunities. A recognition strategy works best when both supply and demand are known. Entrepreneur relies on his or her experience and actively employs sophisticated search techniques to discover the opportunity. When neither supply nor demand is known and the entrepreneur creates something new, or enacts an opportunity. Social enterprises/ventures: organizations that are started in response to needs within the community. Entrepreneurial ventures: organizations that are pursuing opportunities, are characterized by innovative practices, and have growth and financial viability as their main goals.