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Discuss the relationship between culture and entrepreneurship
The Relationship Between Culture and Entrepreneurship
The Relationship Between Culture and Entrepreneurship
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Culture of Entrepreneurship
Developing a culture of entrepreneurship within an organization can be a very important factor with the potential growth in an organization. There are many factors that can be accomplished by having a state of the art internal entrepreneur system established. One is obviously the development of new ideas. The new ideas that come along can be a turning point for the whole organization. If there is one good idea it could set the company apart from the competition drastically. As long as you constantly have new ideas coming in, and capitalize on the good ones; the company can stay on top for a very long time. This also brings about another good point of ideas within the company. The more ideas that a company has coming in among employees creates competition among those employees and in return spark better ideas in the long run. This new idea of internal entrepreneurship has coined the term intrapreneur. An intrapreneur is defined as "a person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk-taking and innovation" (Nan Hawthorne, Intrapreneur, http://www.esightcareers.net/View.cfm?x=934).
So why exactly besides the points illustrated above do we need more entrepreneurship within a large corporation? From the stand point of a large corporation it is very difficult for the managers to properly see...
...resent diversity within the labor force and “each of them will also have networks of professional associates whose knowledge they can tap in order to solve problems and accomplish tasks. Needless-to-say, diverse people will have diverse networks and provide your company with a vast and diverse meta-network at your disposal” (p.1). In short, in supporting of creativity, innovators essentially need the backing from top leaders, and without that support, many initiatives may break down or die on the vine (Harvard). For any idea to be successful, it is vital that it is aligned with company strategy; there is more likely to occur naturally when top executives involve and take the lead with a idea or creativity initiative and this is a main reason why management commitment is a key factor in the accomplishment of any idea or innovation process (Baumgarther, 2010).
We need to get back on track with this again. Entrepreneurs are very important in our society as they promote job growth. 80% of all businesses fail and a large reason why is due to large corporations. The government needs to promote a more entrepreneur friendly economy. A small business lifestyle less based on large corporations. There could also be restrictions on large corporations so that small businesses are at least given a chance to thrive in the economy without dangerous
What is love? Love is the pinnacle of all emotions, it is the epicenter for life, what is the point of living if there is no love, ironically love is the cause of many a down fall. William Shakespeare has single handedly captured and embraced this necessary feeling and has allowed us to view in on it through the characters in his two masterpieces, Othello and King Lear. Three different kinds of loves explored in both Othello and King Lear, sharing both similarities and differences are a love for a significant other, the love a father holds to his children, and the love a daughter holds for her father. By looking at the outcomes of these loves one may draw a sense of loves negative and positive effects, and how the different traits of loves play into the outcomes in the fate of Shakespeare's characters. Through the analysis of love in these two plays one will become a more knowledgeable student of literature.
In the first stage of growth, the founders of an organization develop skills and create new products. Learning is a huge component of this phase of organizational growth. Entrepreneurs learn what works and what doesn’t. People’s behaviors are governed by organizational culture rather than by hierarchy (Jones, 2010).
Gore’s flat lattice structure, cross-functional product development teams, and shared values support internal innovation and product differentiation. W.L. Gore achieves effective integration of these functions involved in internal innovation efforts without formal structural elements. Resource allocation, activity coordination, and communication throughout the organization adopt creating and strategic behavior. Continuously distributing knowledge capital and promoting internal innovations takes W.L. Gore into new markets and creates new value for the firm. The level of self-rule, innovativeness, and risk-taking within the firm suggest that the company sustains an entrepreneurial mindset as another source of internal innovation and growth.
Values and norms can reinforce the entrepreneurial spirit and allow an organization to react quickly and creatively to a changing environment. Intrapreneurs are entrepreneurs inside an organization who are responsible for the causes or failure of a project (Jones et. al., 2006). Shell’s commitment to technology and innovation continues to be at the core of the organization’s strategy. As energy projects become more complex and more technically demanding, Shell believes their engineering expertise will be a deciding factor in the growth of our businesses (Our Strategy, Shell Global, 2016).
Business organisations can benefit from unique viewpoints and ideas from their intrapreneurial employees. Often these progressive ideas may have the ability to drive the business further. Furthermore, the determined employee will reap precious experience and confidence to autonomously pursue their ideas and develop the business in the future.
Many large organizations are realizing that they need to be more innovative and flexible. Intrapreneurship has become more important nowadays for organizations. Intrapreneurship helps organizations to a transformation of dreams into reality. This essay will describe the intrapreneurship and compare the differences between Intrapreneurship and Entrepreneurship and show some examples from the business world. It will further explain why larger organizations are pursuing an agenda of intrapreneurship. In addition, it will look at the difficulties of developing of an intrapreneurial culture. Finally, it will suggest strategies which could be adopted in pursuit of an intrapreneurship culture.
From my interview with Valdis Dunis, there were insights about the entrepreneur’s reasons, strategies, approaches and motivation for starting and owning a business. Other insights that I discovered were the realities of entrepreneurship that contradict or confirm the myths about entrepreneurship.
He wonderfully describes it as “the externally oriented, opportunity seeking attitude that motivates employees to run their operations as if they owned them”. This line summarizes the way Sumantra feels about the entrepreneurial process in an organization. Every employee will be lost in the process of sticking to the hierarchy and the various other static structures within the organization and forgets that the true innovation will happen at the grass root level when the employee takes complete ownership of the task. Sumantra was one of the earliest to spot this as a management initiative to drive in the culture of the organization and used it as a sound basis to criticize the existing system structure doctrine. The authors quote examples of 3M, Intel and Canon for showing that these companies maintained that entrepreneurial spirit in spite of the growth they achieved in terms of size and revenues. However, the authors go on to caution that the “mere existence of small units does not guarantee that they will be innovative”. Just like 3M, even the top management at ABB has begun to focus on its frontline small units as they believe that they will be the primary locus of the organizations assets and
The entrepreneur has the mentality of an entrepreneur is vital if you want to achieve financial freedom and success. Entrepreneurs take matters into their own hands and take calculated risks and not blindly jump into deep water. Being your own boss is not easy, but it gives you the freedom to take matters into your own hands and not wait for others to tell you what to do. If you have the mentality of an entrepreneur, you're always looking for ways to create something, even if others see 'nothing' because 'something'. Well, I think that is the main difference between people who have the mentality of entrepreneurs from someone who does not have it. With positive thinking and the ability to see opportunities and advantages even in a terrible state, entrepreneurs can create something out of nothing. Minded entrepreneurs certainly not the birth right; if you take your time to know yourself and believe in your abilities, you will definitely develop the right frame of mind to become an
Corporate Entrepreneurship can be seen as the process whereby an individual or a group creates a new venture within an existing organization, revitalizes and renews an organization ,or innovates. Zahra’s(1986) definition of corporate entrepreneurship suggests a formal or informal activity aimed at creating new businesses in established firms through product and process innovations and market developments,whereas sathe(1985) defines corporate entrepreneurship as a process of organizational renewal. Corporate Entrepreneurship has emerged as a much needed ingredient contributing towards the growth of any organization under a changing business environment.
Entrepreneurship is unique business gamble that is innovative. In most cases, the person behind the business project works to present something new to a future market. This includes a significant amount of planning and understanding the needs of your potential market. This is considered a competitive option that requires research, useful resources, and detailed innovation if you expect to be successful. In short, it is like going into business for yourself but you take on risks in hopes of reaping the rewards you hope to achieve. Interestingly, much popular as it is, there is no universally accepted definition of the term “entrepreneur”. A large amount of literature has been published on the theory of entrepreneurship. The first
Authors maintain that entrepreneurship and culture are closely related (Erdem, 2001). Different cultures have different attitudes towards business formation (Shapero & Sokol, 1982). However, entrepreneurship appears to thrive better within certain cultures than others (Landes, 1953; Lee & Peterson, 2000), causing the levels of entrepreneurship to vary across countries. Extant research has established that the level and type of entrepreneurship in a society or country is as a result of the cultural structure of that country (Begley & Tan, 2001). The link between culture and entrepreneurship stems way back to Mark Weber’s (1930) work on the protestant work ethic. Over the years, researchers now rely on national culture to help explain the reasons
Entrepreneurship is a key driver of our economy, wealth and the majority of jobs are created through entrepreneurship, and it also helps and educates people in terms of growth and realizing opportunities (Nolan, 2003). Entrepreneurship is also seen as one of the important contributing factor to local development (Nolan, 2003).