Entrepreneurial and Innovative Business Culture Essay

Entrepreneurial and Innovative Business Culture Essay

Length: 1203 words (3.4 double-spaced pages)

Rating: Strong Essays

Open Document

Essay Preview

The publication of Oviatt and McDougall work “Toward a Theory of International New Ventures” in 1994 attracted an attention throughout the world to the increasing role of young firms in the global marketplace. The authors highlighted the importance of smaller and younger firms and their distinguishing features that stand them internationalize rapidly and create value for their owners and founders. The article of Zahra Shaker (2005) which is built on the abovementioned the seminal work of Oviatt and McDougall is essentially based on a few but very complex characteristics that sit at the base of successful international new ventures: entrepreneurial qualities of the company.
Literature Review/Theoretical Foundations:
These are primarily linked to the ownership-managers of the company. Individuals that have international experience and intuition, risk taken, open minded recognition of international business opportunities, i.e. 'founders' cognition of opportunities' based on the following characteristics: a) Market orientation; b) Learning orientation; c) Innovation propensity; d) Risk oriented; e) Network oriented; f) Motivation oriented; g) Capabilities and capacity, both economical and organizational, to stand-by and overtake the typical liabilities of a new enterprise; h) Inexperience and newness limiting the tapping tom resources and networks; i) Small which is proportional to the resources available and the scalability of operation both in production capacity and or in internationalization itself; j) Understanding and learning of the new cultures, which potentially requires time.
These liabilities have to be overtaken by a very conscious Management of economical resources, careful selection of human resourc...

... middle of paper ...

...el is respondent in specific markets and in particular where the capital investment, at list during the first years of live cycle, is not as determinant. For example, it will be more difficult to imagine the success of the same model in a highly intensive business like the Oil and Gas industry. For such industries a capital, experience and a consolidate supply base are essential.

Reference list:

Grove, A. (1983) High Output Management. Random House (NY).

Grove, A. (1996) Only the Paranoid Survive. Doubleday
Brunelli, R. (2011) Intel (NASDAQ:INTC)’s Far East Connection. Journal of Financial News [Online]. Available from: http://www.emoneydaily.com/intel-nasdaqintc%E2%80%99s-far-east-connection/6987801 (Accessed: 10 May 2011)
Zahra, S. (2005) A Theory of International New Ventures: A Decade of Research, Journal of International Business Studies

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Creation and Maintenance of the Business Culture at Lincoln Electric Essay

- In order to gain an understanding of the Business culture at Lincoln Electric, I will create a model describing how the culture was created and continues to be maintained. I will attempt to show also that Lincoln has a strong culture which affects the way the employees think and behave. There are several factors are involved in the creation of their Business culture: Founder's Value (Carpenter, Erdogan, & Taylor, 2009) is the first factor and is exemplified through the philosophy of James Lincoln....   [tags: entrepreneurial analysis and strategies]

Strong Essays
857 words (2.4 pages)

Essay on Characteristics of Entrepreneurial Venture

- Schumpeter (1934) (cited in James et al. 1984) proposes five stages of behaviour, which are the characteristics of entrepreneurial venture: introduction of new goods, introduction of new method of production, opening of new markets, opening of new sources of supply, and industrial reorganisation. Fraser Doherty a young entrepreneur made his dreams come true when he set his own business of ‘Super Jam’ when he was 14 years old, using his Grand’s secret jam recipes. His goal was to make it healthier and better in taste than any other regular jams....   [tags: Entrepreneurs, Competitors, SWOT]

Strong Essays
1486 words (4.2 pages)

Essay on Entrepreneurship - Starting Your Own Business

- Entrepreneurship defined by Jeff Cornwall at Belmont University is, “A process of identifying, evaluating, seizing an opportunity and bringing together the resources necessary for success.” (www.belmont.edu) There are a wide variety of risks when it comes to starting and running your own business, just some of them are: under capitalization, poor management, market misjudgment, and lack of planning. Lack of planning and under capitalization go hand-in-hand because if you don’t properly plan your strategies and what you would like to do in the future of the company you are trying to start, then you aren’t going to be able to afford it....   [tags: Business]

Strong Essays
1194 words (3.4 pages)

Essay about The Entreprenurial Process

- Introduction The Entrepreneur is, “an individual who takes initiative to bundle resources in innovative ways and is willing to bear the risk and/or uncertainty to act” (Hisrich, 2013). The entrepreneurial process is unique onto itself; for it does not merely involve the taking of tremendous risks, but also evokes some of the most creative and innovative characteristics of the individual. This dynamic process pushes the aspiring entrepreneur to his/her limits in a quest to take full advantage of particularly identified available opportunities in the marketplace....   [tags: risk, hewlett-packard, microsoft, dell]

Strong Essays
1618 words (4.6 pages)

The Effect of Culture on People Essay

- The Effect of Culture on People Management today is all about getting things done through people (Hofstede, 1980). In order to do this effectively one has to understand and know the people who have to do them. And here the notion of culture has its significance. Culture here is seen as the predicted behaviour and the shared ways of thinking of an individual in a group. Here culture is not a property of individual, but of group. This group can be a nation, region, ethnic group or a work organisation....   [tags: Papers]

Strong Essays
2187 words (6.2 pages)

The Evolution of Business Life Essays

- The Evolution of Business Life Ask anyone under 50 in any reasonably successful organisation and they will tell you that business life is dramatically different from two or three years ago. Work is longer, harder and unending. A Management Today Ceridian survey reports that more than 76 per cent of UK managers said they wanted to spend more time doing other things; 50 per cent of men and 65 per cent of women claim that work leaves them drained of energy. This situation is not likely to improve....   [tags: Papers]

Free Essays
578 words (1.7 pages)

Essay on How can a company develop an entrepreneurial culture?

- How can a company develop an entrepreneurial culture. Corporate culture can help to bind together members of the team as they internalize the values of the particular corporate culture. Individuals entering the enterprise for the first time are initiated into the culture in various ways, sometimes through a deliberate programmed of induction, and persuaded to identify with this culture which then influences their behavior. As a consequence, all will act in the desired way regardless of and in the absence of any sanction or incentive....   [tags: Corporate Culture]

Strong Essays
769 words (2.2 pages)

Develooping Innovative Culture in Organizations Essay

- Introduction Organizations must learn to adapt to a rapidly changing business environment characterized by uncertainty and turmoil. Globalization and accessibility to goods and services are two environmental factors that may serve as the locus of such disturbances. The key to effective leadership in organizational adaptability is to create an innovative culture in the face of environmental uncertainty (Schmitt et.al., 2010). The innovative culture comprises exploitation of existing competencies and exploration of novel innovations (Abidin et al., 2011)....   [tags: adaptability, leadership, theory, innovation]

Strong Essays
3179 words (9.1 pages)

Essay on Entrepreneurial Business Opportunities in Developing Countries

- ... There are many issues that need to be overcome by entrepreneurs in developing countries before they can start on their entrepreneurial venture. Innovation is one of these; it can be a very costly part of the business and can become difficult to pay for. Ashok Khosla the former director of the United Nations Environment said in an interview that “In the case of my social enterprise, Development Alternatives in India, we had to create a whole complex of organisations some of which were supported by public and philanthropic funds to produce new technologies and products which could then be sold at reasonable prices since the Research & Development costs had already been taken care of.” (Kho...   [tags: innovation, finance, alleviating poverty]

Strong Essays
974 words (2.8 pages)

South African Entrepreneurial Activity Essay example

- What does being an entrepreneur entail. There are a few well known and accepted definitions the world over. The main points to consider are creating or realizing opportunities to change and improve, to think, reason and act and one who organises, manages and assumes the risk of a business enterprise. You will need to convince at least one person that the idea will work and that there is a need for the opportunity. Entrepreneurs need to have some form of backing whether it be personal savings, a loan from an institution or an investment from the relative party....   [tags: Business Administration]

Strong Essays
1762 words (5 pages)