Corporate Entrepreneurship and Innovation Management Report 2022

Running Head: Corporate Entrepreneurship and Innovation Management
Corporate Entrepreneurship and Innovation Management
Name of the Student:
Name of the University:
Author’s Note

1ENTREPRENEURSHIP AND INNOVATION MANAGEMENT
Executive Summary
The report is divided into two parts which comprise of analyzing eight different areas
of diagnostics framework. The chosen company for this paper is BMW Group of Companies.
There are eight separate parts of the framework and each of the framework deals with an
areas of the managerial functioning. The second part of the assignment deals with the
recommendation section which analyses to cater any three areas of the framework and
provide a valid recommendation for the chosen company.

2ENTREPRENEURSHIP AND INNOVATION MANAGEMENT
Table of Contents
Introduction....................................................................................................................2
Overview of innovative performance over the past 5 years.......................................2
Existing capabilities...................................................................................................3
Organisation structured..............................................................................................3
Recruited and reward.................................................................................................4
Organizational processes............................................................................................5
Innovation challenges.................................................................................................5
External stakeholders.................................................................................................6
Uncertainty and failure...............................................................................................6
Exploratory and exploitative learning related to innovation performance.................7
Recommendation........................................................................................................7
Reference........................................................................................................................7

3ENTREPRENEURSHIP AND INNOVATION MANAGEMENT
Introduction
The corporate entrepreneurship is required for any new business development, pricing
strategy, product designing or developing service inside the existing organisation in order to
create a value and generate greater revenue with the implementation of entrepreneurial action
and activities (Vizitiu et al, 2018). The aim of the report is to provide an analysis of the eight
diagnostic frameworks of entrepreneurial practice of the chosen company. The eight
frameworks is based on the existing capabilities of the company on the basis of innovation.
The framework further assists in analyzing the organizational processes, external
stakeholders of the firm, the recruitment and reward policy of the employee and the various
challenges faced by the company while inculcating innovation in their managerial activities.
The frameworks further consist of the exploratory and exploitative learning related to
innovation performance of the chosen company (Hoque, Gwadabe and Rahman 2017). Lastly
the second part of the report comprise of the recommendation section which will state the
innovation strategy on two to three diagnosis areas and provide examples from the company
and its competitors (Calleja 2017).
Name of the Company- BMW (Bavarian Motor Works)
Overview of innovative performance over the past 5 years
BMW is a German multinational corporation which produces luxury cars and
vehicles. The company was founded in the year 1916 by Camillo Castiglioni with its
headquarter in Munich, Germany (Shiu, Bonacina and Binninger 2017). The automobile has
marked it production under the market of various brands and some of them are Mini and
Rolls Royce and the motorcycle manufactured under the brand BMW Motorrad. The
company is known as the largest producer of motor vehicle with some 2,279,503 vehicles
produced. Over the past five years the company has formulated the innovation strategy as one
of the main achievement factors for the company (Kazadi Lievens and Mahr 2016). In the
ground of machinery and mobility BMW is talented to realize full potential and shows how
they can contribute towards progress and mobility in various areas. In the recent year BMW
has introduced the BMW Connect where the group of Companies is focused on individual
needs and caters to personal world of intelligent digital service where the users receives
proactive notifications (Pochhammer 2016). On the other hand the company’s engineers are