The aim of this report is to investigate and explain aspect of business which promote and support intrapreneurship. The platform for this investigation is formulated by examining the following three case studies: Jeff Griffiths: Now You See Him, Now You Don’t; Hubbard’s Foods: Developing Strategies and Management Control Systems in The Entrepreneurial Firm and Zhang Ruimin: Awakening of the Sleeping Dragon. In addition, the success of intrapreneurial qualities within a specific organisation will be assessed against other case studies and an explanation relating to the application of the intrapreneurial qualities will also be highlighted. (NEED MORE WORK)Based on the three case studies mentioned in the introduction, there a number of lessons learnt that would help organisations to be more intrapreneurial and therefore more successful. These lesson include the importance of structure in an organisation; the need for appropriate management support; the understanding of reward and recognition and finally the willingness of management to embrace the notion of risk taking. Firstly, an organisation must have structure. Whilst the structures in the case studies differed slightly in terms of their levels of formation, centralisation and complexity as classified by Burns and Stalker (1961), placing them at various points on the continuum between the organic and mechanistic organisational structure, the fact that they all have structure gives the organisation a foundation for development. The importance of structure is outlined by Draft (2007) who stated that structure allows for better communication between employees and management, encourages innovation and improves the responsiveness of an organisation to the consumer. Although the si...
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...stone of ‘entrepreneurial architecture’. Whilst Griffiths, Hubbard and Ruimin were leaders of their respective organisations, the way in which achieved entrepreneurial growth was as Morris, Kuratko and Covin (2007) describe a ‘Champion and the Mainstream’ approach, as each leader looked towards his employees for added creativity and innovation.
Once the credentials of the entrepreneurial leader have been established, it is their responsibility to develop that intrapreneurial culture. To further develop intrapreneurial activity within an organisation, it is vital that the culture of an organisation truly supports innovation. According to Alvesson (2002) culture within a business unities personnel by commonly shared goals or objectives and as highlighted by Toringtton et al. (2008) who states that organisational culture commits employees to their organisation.
Through short stories and personal observations and experiences, MacKenzie provides insight into maintaining a creative, entrepreneurial culture within the structured and potentially constricting environment of an organization, and society as a whole. He defines “the giant hairball” as a tangled, impenetrable mass of rules and systems that are based on what worked in the past and which can lead to mediocrity in the present. He points out that this “hairball” is built over time without members of the firm understanding that it is even there or its potential to negatively effecting the firm’s ability to remain flexible and creative.
Each organization big or small has its own values, ways of doing things and assumption that it operates in. The principles and ethics that exist in each of these companies are the baseline through which the company operates its affairs. This is what can be called as that organization’s culture. The culture in existence has an impact on the productivity, effectiveness and efficiency (Keyton, 2011). The basis of setting the most appropriate culture of a company is not only to move or increase the profitability but also to make the stakeholders happy and satisfied. One aspect of that is the employee or the human resource the firm who put their expertise in the firm and add a bit of creativity and innovativeness to move the products. Chick-Fil-A operates in a competitive industry thus it requires all the stakeholders.
Joint Venture is “a partnership, individual, or corporation that pools labor and capital for a limited period of time” (Kubasek, Brennan, Browne, 2015, p. 431). This method can increase liability and limit outside opportunities where the business can not expand their product line and have to utilize the products provided by the company they have a joint in a agreement. The mission of the coffeehouse is to be unique and special. This type of model would not allow originality and for that reason, its not recommend that Shania get involved with a joint venture.
This cell-like structure was heavily influenced by the philosophy of Graham Turner, the founder and CEO of Flight Centre (Dunford et al, 2002). His ideas of rewarding initiative, empowering employees and fostering the spirit of a large tribe throughout the company were developed into the organizational culture. Flight Centre’s culture was formed first and it is comprised of their values, such as their people, their customer, the brightness of future, taking responsibility and egalitarianism and unity (Flight Centre, 2017). Its culture influenced the creation of their unique structure. They had to consider major factors, such as whether the organization would be mechanistic or organic, whether it would stress differentiation or integration, and how its strategy would affect its structure. The culture dictated that the structure would be organic because it promotes cooperation and flexibility. Similarly, the structure is differentiated because the culture values smaller teams. Lastly, Flight Centre had to determine the link between its strategy and its structure. The strategy is the organization’s plans to achieve its goals, which is facilitated by both the culture and structure. Although an organization’s culture influences its structure, together the culture and structure help provide the necessary framework for the organization to achieve its
These are the entrepreneurs- who look for new opportunities, new goods and new thoughts for making them factual. Builders get ...
As the Entrepreneurship Institute (Entrepreneurship@King's) commends its one year commemoration, we examine the majority of its triumphs in the previous year and what's in store in the forthcoming year. Since Entrepreneurship@King's was built up a year prior, it has gone from quality to quality, reflected through its different effort exercises and exceptional accomplishments. The recompenses service for Entrepreneurship@King's' Lion's Den Challenge Start-up Competition occurred a week ago in the House of Lords. The Lion's Den Challenge is an activity which offers individuals from the King's group a chance to accept and develop their thought and business. In the number one spot up to the start-up rivalry there were a few business workshops and
Culture can be defined as “A pattern of basic assumptions invented, discovered or developed by a given group as it learns to cope with its problems of external adaptation and internal integration that has worked well enough to be considered valid, and therefore to be taught to the new members as the correct way to perceive, think and feel in relation to those problems”. Schein (1988). Organizational culture can be defined as a system of shared beliefs and values that develops within an organization and guides the behavior of its members. It includes routine behaviors, norms, dominant values, and feelings or climates. The purpose and function of this culture is to help foster internal integration, bring staff members from all levels of the organization closer together, and enhance their performance.
According to Whitehurst, the culture of a business is defined by how members interact with one another (2016). It is learned behavior that a lot of employees look up to leaders for decision making, and will easily be influenced to behave like their seniors. These actions become the organization's culture and are not a by-product of operations. According to Sobroto (2011), "leadership, particularly transformational leadership can build a higher innovation and a satisfactory organizational culture. " It, therefore, follows that leaders are driving agents of a company's culture, and their decisions towards sustainable change influence performance.
Collins, J., & Porras, J. I. (2002). Built to last: Successful habits of visionary companies. New York: Harper Collins Publishers.
Firstly, from a growth aspect, large organizations stopped investing into the future during the economic crisis in 2008 even if they needed to develop and grow. The goal of intrapreneurship is to build the entrepreneurial spirit to support companies’ growth. For example, 27% employees’ absenteeism cause a drop in productivity which translates to a slower growth or even zero growth (Smith 2010). Intrapreneurship therefore helps organizations to grow and expand. Secondly, Innovation is vital for an organization’s achievements, such as new innovations, ideas and products. All the time organizations need to be innovating and must not stop due to any high rates of failure such as 50% to 90%. According to (Smith 2010), organizations need to make innovation success by having the right processes, people, and environment. To be successful in intrapreneurship you need innovation. Finally, from an engagement aspect according to Smith, (2010) between $250 billion and $350 billion annually is costing America’s organizations because of employees lost productivity. Intrapreneurs are engaged in their work when employees feel they are part of the company. This allows the intrapreneur to provide a workplace that is engaging, challenging and meaningful for the workers. The intrapreneur’s passion inspires others to get involved as the employees’ enthusiasm grows, the organization will also develop and grow. Higher levels of employee engagement, more innovation, increase productivity and financial returns what the organizations will achieve if they embrace intrapreneurship. This means if intrapreneurship is chosen it could prove to create successful
C, Martin. K, Tyrone. P. (2005) Managing and Organisations an Introduction to Theory and Practice Sage publications Unwinhyman Dictionary of Business --------------------------------------------------------------------- [1] A Huczynski and D Buchanan 2001
"Entrepreneurs who start and build new businesses are more celebrated than studied. They embody, in the popular imagination and in the eyes of some scholars, the virtues of "boldness, ingenuity, leadership, persistence and determination." Policymakers see them as a crucial source of employment and productivity growth. Yet our systematic knowledge of how entrepreneurs start and grow their businesses is limited. The activity does not occupy a prominent place in the study of business and economics.
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).
Organisational culture is one of the most valuable assets of an organization. Many studies states that the culture is one of the key elements that benefits the performance and affects the success of the company (Kerr & Slocum 2005). This can be measured by income of the company, and market share. Also, an appropriate culture within the society can bring advantages to the company which helps to perform with the de...
It is true that most entrepreneurs typically have a flair for the creative and a lot of energy. They are born with it. But having these characteris...