Editorial Entrepreneurship in the 21st Century.docVIP

Technology Innovation Management Review August 2012 Editorial: st Entrepreneurship in the 21 Century Chris McPhee Welcome to the August issue of the TIM Review. This month’s theme is Entrepreneurship in the 21st Cen- tury. For this issue, we asked authors to focus on as- Sonia Bot, executive and strategist, and Paul Renaud, Chief Executive of The Lanigan Group, examine entre- preneurial capability within the IT functions of estab- lished firms. They apply a process-based perspective to the challenges of balancing exploitation (taking advant- age of what you already have) versus exploration (dis- covering something new). This work is an extension of an earlier article on process ambidexterity for entre- preneurial firms (Bot, 2012; timreview.ca/article/547), but in this case, the emphasis is on balancing exploitation versus exploration within the IT functions of firms. The article provides a framework for organizations to devel- op process ambidexterity, thereby providing their IT function with entrepreneurial capability and increased alignment with the organization’s business function. pects of entrepreneurship that represent new challenges or paradigm shifts for entrepreneurs, man- agers, and researchers. In the first article, Blair Winsor from Edinburgh Napier University’s business school in the United Kingdom ex- amines the impact of time pressure on innovation. Through his in-depth study of a successful medium- sized consultancy, he asks whether managers should in- crease or decrease the time pressures imposed on pro- ject teams if they wish to enhance innovation in their firms. The results yielded three practical implications for management teams and underscored the import- ance of the effects of time for innovation. Shruti Satsangi, recent graduate of the Technology In- novation Management progra