Incorporating Innovation and Entrepreneurship into Corporate Strategy

The president of your company has recently announced the need for a greater effort to incorporate innovation and entrepreneurship into organizational strategy, and has asked you to list the requirements necessary for this to happen. You list the following requirements:

• Ongoing environmental monitoring
• An entrepreneurial climate
• Encouragement of entrepreneurial behavior
• A strong customer/stakeholder focus

Explain why each of these is important along with your plan for achieving them.

Submit your answers in a 4- to 5-page Microsoft Word document.