Microsoft will never be mistaken for a small company – and it left its entrepreneurial roots behind long ago, but there are still important lessons new business owners can take from the company.

With so many divisions fighting for R&D dollars, CEO Steve Ballmer says he often feels like a “mini venture capitalist,” having to choose between the ideas he thinks will work and those that won’t. In this segment, taken from a Entrepreneurial Thought Leader lecture given earlier this year at Stanford University, he talks about which ideas and projects receive resources and the importance of staying focused on core-competancies and core-strategies.