September 29, 2011
The entrepreneurial revolution: Hornsby co-authors new book on why an entrepreneurial culture is vital to business survival
Innovate or die.
That's what it takes for corporations -- and their employees – to remain vibrant and profitable today, according to a new book co-authored by a Kansas State University entrepreneurship expert.
"Innovation Acceleration: Transforming Organizational Thinking" was recently released by Pearson and is the newest book in the Prentice Hall Entrepreneurship Series, a compilation of brief, practical and engaging titles that focus on the latest research findings, issues and trends that guide successful entrepreneurs and innovators today.
In the book, authors Donald Kuratko, Michael Goldsby and Jeff Hornsby, director of the K-State's Center for the Advancement of Entrepreneurship and Jack Vanier Distinguished Chair in Innovation and Entrepreneurship in the College of Business Administration, explain how to embrace an entrepreneurial environment to transform corporations and make them more forward thinking.
"Our book approaches the innovations process by discussing how to create an entrepreneurial environment and why it's important to seize opportunities for new corporate ventures, product improvements and new products," Hornsby said. "The book takes students to practitioners through the whole process, from changing organizational thinking to implementing innovative practices."
Hornsby said most major corporations are very much interested in the innovation process, which he calls a hot area. The book approaches innovation and corporate entrepreneurship from the perspective that everyone should get involved, not just the individuals in the research and development unit.
"Every company is looking to break out of the paradigm -- to be more efficient and come up with new products and services. A lot of technology companies are heavily invested in this today, as is any company trying to stay ahead of the game," he said.
The book is especially helpful to undergraduate and graduate students as they head into the corporate world.
"If you're going to add value to a company, you have to think entrepreneurially and be innovative," Hornsby said. "You constantly must be on the lookout for things to make your company more effective, such as new products and services, so the company can grow and be vibrant. This is particularly important today with all the rapid changes in the technology and manufacturing processes, where it is innovate or die."
One industry that failed to be more innovative in its thinking was the U.S. auto industry, Hornsby said. It lost ground to automakers in Asia and Europe by not updating its product offerings.
"It took an effort by the industry to be more innovative and identify and drive those progressive changes needed to regain market share, which the industry is doing today," he said.
The 344-page book has five sections: the innovative organization, which discusses the innovative mindset and the process of corporate innovation; individual innovation skills, including how to unleash individual creativity and skills needed to manage this process; the design function in innovation; organization innovation; and implementation of innovations, including innovation to commercialization and effective innovation plans.
"I think the book really drives home the idea that you can be entrepreneurial within an organization and provides the necessary ingredients for changing the culture within an organization," he said.
Hornsby's research has focused on the areas of corporate entrepreneurship, entrepreneurial motivation, compensation, team building and human resource management practices for emerging and entrepreneurial businesses. He has authored or co-authored more than 120 refereed journal and proceedings articles appearing in the Journal of Applied Psychology, Strategic Management Journal, Academy of Management Executive, Journal of Operations Management, Journal of Business Venturing, Entrepreneurship Theory and Practice, Group and Organizational Management, Journal of Small Business Management and the Journal of Business and Psychology. He also has earned three conference best paper awards.
He is the co-author of four other books: "New Venture Management: The Entrepreneur's Roadmap," "The Human Resource Function in Emerging Enterprises," "Frontline HR: A Handbook for the Emerging Manager" and "Training Systems Management."