Corporate Entrepreneurship and Innovation in Silicon Valley The Case of Google, Inc..pptVIP

Corporate Entrepreneurship and Innovation in Silicon Valley: The Case of Google, Inc. Todd A. Finkle Content Abstract Introduction Background of Founders Growth of Google Philanthropy at Google Competition Silicon Valley Corporate Entrepreneurship and Innovation Corporate Entrepreneurship and Innovation at Google Decision Point 1. Abstract In May 2009, Sergei Brin and Larry Page, co-founder of Google, Inc., were trying to determine how they were going to navigate Google through the worst recession since the corporate entrepreneurship and innovation in the face of stagnant profits and a host of other issues. Google sought answers on how to increase corporate entrepreneurship and innovation during the worst economic environment that the company had ever experienced. 2. Introduction Sergey Brin and Larry Page tried to determine how they were going to navigate Google during the worst recession: The SP 500 economy indicator had dropped to an intra-day low of 666.79 on March 6, 2009 from an intra-day high of 1576.09 on October 11, 2007. By early 2009, U.S. retirement accounts dropped by an average of 40% or $3.4 trillion. Google’s stock price dropped 51.35% from an intra-day high of $713.587 on November 2, 2007 to an intra-day low of $259.56 on November 20, 2008. The primary problem for Google was how to maintain the culture of corporate entrepreneurship and innovation in the face of flat net profits from 2007 to 2008. Google had grown to a company with 20,000 employees, and Google would have to find a way to recruit the best employees and retain them. 3. Background of Founders Larry Page Sergei Brin 4. Growth of Google Google initially set up its business in a garage at 232 Santa Margarita, Menlo Park, California in 1998. Google was named Search Engine of Choice by PC Magazine in the Top 100 Sites of 1998. Google moved to Palo Alto in 1999. Google received $25 million in venture capital financing from Sequoia Capital and Kleiner, Perkins, Caufield, and Byers. The t