The Corporate Entrepreneurship

The Corporate Entrepreneurship In todays rapidly changing and hyper competitive business environment where opportunities and threats are present, innovation and continued growth remains as a main concern for companies. Scholars have voiced importance of corporate entrepreneurship behavior to cope with the environmental challenges and managing innovation and sustainable growth. Corporate entrepreneurship is an interesting arena among scholars and no universal definition has been agreed. Corporate entrepreneurship is generally defined as the process by which teams within an established company conceive, foster launch and manage new businesses that is distinct from the parent company but make use of parent companys resources, market position, capabilities and other resources (Ferreira, 2002). Implementation of corporate entrepreneur behavior within firm is a challenging process, which involves individuals roles and most importantly firm level antecedents that promotes corporate entrepreneurial activities (Marina G. B iniari, 2010). This paper explains factors (individual characteristics and firm level antecedents) affecting corporate entrepreneurship and how beneficial this strategy is to firms. Individual Characteristics and Corporate Entrepreneurship To cultivate and build successful corporate entrepreneurship in organizations, individuals working at the organization should inherit or possess certain characteristics and traits. These skills and competencies enable them to achieve the outcomes of a successful entrepreneurship and to involve effectively in corporate entrepreneurship activities (Christensen, 2004). As similar to definition of corporate entrepreneurship, researchers have explained various characteristics of individuals in different occasions and no agreement have been reached over key characteristics. Various researches have been conducted on this area analysis of such studies are explained here. Findings of a study done by Lumpkin and Des in Dess in 1996 explained corporate entrepreneurship in terms of entrepreneurial orientation and they determined main characteristics as innovativeness, proactiveness, risk taking, autonomy and competitive aggressiveness (J.P.J de Jong, 2001). In contrast to this study Zahra (1993, 1995) suggested three main characteristics, which are venturing, innovation and self-renewal (Scheepers, 2008). Brockhaus and Horwitz (1982) also suggested some other set of characteristics supporting corporate entrepreneurship, which are locus of control, risk taking propensity, and achievement motivation (Burgers, 2011). In addition to these characteristics, other important characteristics determined by other researchers include; energy level, conformity, need for autonomy, dominance, personal control and desire to build something of ones own (Sanchez, 2011). Since there is no universal set of characteristics, certain set of characteristics are explained in det ail in this section and these characteristics are found as common characteristics highlighted by most of the researchers. Innovativeness Arguably innovation is the most crucial element of the corporate entrepreneurship and all most all researchers have talked about the importance of innovation towards corporate entrepreneurship. Researchers have stressed on importance innovativeness characteristic of individuals in product and service innovation within organizations and Antoncid and Hisrich (2001) suggested that if employees of firma are innovative, it would drive firm towards corporate entrepreneurship. According to James C. Hayton (2006), innovativeness in corporate entrepreneurship is defined as a predisposition to engage in creativity and experimentation through the introduction of new products. Pinchot (1985) suggested that, at that time the important factor missing in corporate innovation was intrapreneurs or corporate entrepreneurs. He defined intrapreneurs as those who take hands-on responsibility for creating innovation of any kind within an organization; they may be the creator or inventors but are always the dreamers who figure out how to turn an idea into a profitable reality (Zhang, 2010). One of the key roles of intrapreneurs is to finding creative methods or ways to improve the speed and cost-effectiveness of technology transfer from internal RD to the marketplace. To achieve this they are need to be innovative to come up with new ideas on how to sustain competitive advantage in a highly dynamic business environment. This may include individuals ability to deliver creative ideas about new product/service development and also process related innovations to improve companys efficiency and enhance productivity (Antoncic, 2009). Proactiveness According to Bateman and Crant (1993), proactive personality trait refers to individuals capability to influence ones environmental and bring about change. Moreover proactiveness of an individual would make him strong to face challenges and motivates plays a vital role in implementing effective environmental changes (Devarajan, 2005). Furthermore Bateman and Jauhari (2008) stated that people are not always passive recipients of environmental constraints on their behavior; rather, they can intentionally and directly change their current circumstances. Researchers have positively related proactive personality with individual innovation, taking charge, problem prevention, voice and issue selling credibility. Since these are crucial elements of corporate entrepreneurial behavior, it is clearly evident that there is a positive relationship between proactiveness of individuals and corporate entrepreneurial behavior. Need for achievement and internal locus of control The need for achievement is one of the important characteristics of a corporate entrepreneur which makes him distinguished from other non corporate entrepreneurs. Individuals hunger to achieve high goals and hard working in achieving firms mission effectively develops the firms ability to develop wealth creation and finally it encourages creating new businesses and ventures within existing organizations (Ferreira, 2002). In addition to need for achievement, internal locus of control is another important characteristic of corporate entrepreneurs. Individuals who have strong belief on that they have the control on over their destiny, vitally affects their performance positively. Such confidence self motivates individuals to take beneficial decisions that would achieve goals of corporate entrepreneurship and this belief motivates them to tackle any hurdles they may face in the process of corporate entrepreneurship (Lassen, 2007). Risk taking Individuals willingness to take risks and ability tolerate in the times of failure is considered as one of the fundamental characteristics to be a corporate entrepreneur. Individuals who bear the risk of profit or loss are ready to take brave actions by venturing into new businesses and investing significantly heavy resources in unknown environments (A. Zahra, 2000). All entrepreneurial activities such as venturing, innovation and strategic renewal involves certain degree of risk as any of such activity would require effort, time and most importantly financial investments. According to Lin and Colleagues (2008), risk taking style managers enriches the corporate entrepreneurship behavior within firms. Furthermore, in a corporate entrepreneurial environment, individuals work on converting intelligent ideas to innovative products even without permission or approval from top management. Other individual characteristics In addition to above discussed individual characteristics, scholars have also stressed on some other fundamental individual characteristics that qualifies them to engage with corporate entrepreneurial activities. Self renewal is one of the important characteristic, which refers to individuals interest or ability to renew or redefine the usual methods of business process and transforming to more innovative methods that enhances ability to gain competitive advantage (Rutherford, 2007). Other important characteristics include feedback seeking and effective communication skills, which are highly useful when it comes to work as groups and interact with each other (Srivastava, 2010). Such personal traits would help to convince team and top management about the individuals innovative ideas and to attain support at organizational level. Furthermore, knowledge, experience and flexibility to adjust changes in environment and managerial structure are also considered as crucial individual charac teristics. Firm-Level Antecedents and Corporate Entrepreneurship According to findings of various researches done on corporate entrepreneurship, it indicates the existence and importance of firm level antecedents that impact on corporate entrepreneurship. Exploratory study done by Kuratko (1990) suggested five distinct internal factors that support corporate entrepreneurship, which are reward and resource availability, organizational structure and boundaries, risk taking and time availability (Burgers, 2011). In addition to Kuratkos findings, study conducted by Fortune 500 CEOs observed tangible and intangible factors within organization that foster corporate entrepreneurship. Their study found that factors such as communication, scanning, integration, and differentiation and control influences firms ability to foster corporate entrepreneurship (Scheepers, 2008). Rewarding System Usage of appropriate rewards within firms is highly acknowledged by several researchers such as Scanlan (1981), Souder (1981), Kanter (1985), Sathe (1985), Fry (1987), Block and Ornati (1987), Sykes (1992), Barringer and Milkvoich (1998). They suggested that when implementing an effective reward system, organization should consider certain factors, which includes; consider goals, feedback from employees, stress individual responsibility and result based incentives (Monsen, 2007). To support the idea suggested by the above researchers, Fry (1993) stated even though monetary rewards may not be especially important to entrepreneurial individual, some mechanism of rewarding innovation must be evident if innovation is to continue. By implementing an effective reward system that value achievements of employees would promote motivation among employees to take risks associated with activities of corporate entrepreneurship. According to expectancy theory individuals maximum effort requires that the individual should believe that by accomplishing goals it would lead to a reward (Devarajan, 2005). Therefore organizations should provide rewards in an appropriate way to show employees that creative works and high level performances are recognized and appreciated by management. Rewards could be presented as options from where deserving employees could choose desired rewards. Management Support Management support means the willingness of top management to facilitate required resources and support to promote corporate entrepreneurial activities within organization. Many researchers have stressed on the importance of management support and they have suggested that management involvement, commitment, championing innovative ideas, providing necessary resources, rewarding venture activities and institutionalizing entrepreneurial activities within firm are important for corporate entrepreneurship (Christensen, 2004). Furthermore Steven Jarillo (1990) stated that by providing necessary training to individuals and trusting those within the firm in detecting opportunities would have a positive impact on firms corporate entrepreneurial behaviour. According to Guth Ginsberg (1990), organizational values are also important in promoting corporate entrepreneurship within firms. They suggested that the corporate entrepreneurial behaviour within a firm critically depends on the values/beliefs and organizational vision (Kollman, 2008). Leadership of the firm should support innovative behaviour of individuals when they propose promising innovative ideas that could venture new business opportunities within the existing organization. This idea was supported by findings of study done by Pearce et al (1997) and they found that leaders who act entrepreneurially had a positive influence on their subordinates and such leaders encourage corporate entrepreneurship behavior within the firm. Resources Resources of the organization and their availability when required play a vital role in promoting corporate entrepreneurial behaviour within organization. According to Pinchot (1985), in order to behave corporate entrepreneurial ways, individuals should be allowed access companys resources to be utilized in various corporate entrepreneurial activities. Furthermore he stated that individuals should have enough time to work on innovative ideas to make them reality and employees should be assigned with reasonable workload so that they could work on other activities to solve important problems (A. Zahra, 2000). Moreover, employees should be provided with necessary resources to conduct experiments on new findings and this includes any required equipments/devices and satisfactory environmental settings. The resource-based view (RBV) suggests that availability of resources in a company is a crucial factor in determining competitive advantage (Kuratko, 2007). Companies should manage their re sources to build unique capabilities to be exceeding competitors capability to provide better solutions to customers. Supportive organizational structure Supportive organizational structure is an important antecedent highlighted by many authors (Souder, 1981; Sathe, 1985; Hisrich and Peters, 1986; Sykes, 1986; Sykes and Block, 1989; Burgelman and Sayles, 1986; Schuler, 1986; Bird, 1988; Guth and Ginsberg, 1990; Covin and Slevin,1991; Zahra, 1991, 1993; Brazeal, 1993; Hornsby et al., 1993) in their literatures. Authors have suggested that organizational structure should provide appropriate administrative mechanisms for idea evaluation, choosing, and implementing productive ideas. Moreover they argued that the bureaucratic nature of organizational structure would gradually build boundaries that hinder individuals ability to convert their innovative ideas to innovative products/services (Kenney, 2010). Therefore organizational structure should be implemented in a way that avoids having standard operating procedures for all major job related activities and rigid performance standards should be avoided as much as possible. Other firm level antecedents In addition to above discussed antecedents there are other important antecedents that affect corporate entrepreneurial behavior. One of them is empowered, autonomous employees, which refers to extent to which employees are give power to make decisions on working on their own works in a manner they believe to be most effective (A. Zahra, 2000). Strategic leadership and their support for corporate entrepreneurship also play a vital role in fostering this strategy within firms. This involves managers willingness to facilitate necessary resources to corporate entrepreneurial activities and to encourage subordinates to participate in such activities. Last but not least, risk taking is also considered as a key element. Risk taking involves firms willingness to spend resources in exploiting opportunities and launching projects with uncertain outcomes (Ferreira, 2002). Word Count: 2574 (Excluding References) Contributions of Corporate Entrepreneurship Corporate entrepreneurship plays a vital role in enhancing companys ability to sustain competitive advantage. Zahra Kuratko (1990) stressed on the importance of corporate entrepreneurship by stating that it improves competitive positioning and transform corporations and strengthen their markets by fostering creativeness within firms. A key benefit organizations could gain via corporate entrepreneurship is to drive firm with diverse strategies with unique combinations. And also corporate entrepreneurship could improve the overall performance of the firm, growth and profitability (Fitzsimmons, 2004). Furthermore it increases the companys proactiveness and willingness to take risks by investing on new product development and integrating innovative technologies in various processes of business. A study done by Zahra and Covin in 1995 showed that there is a strong relationship between corporate entrepreneurship and financial performance. Based on the findings of their study they suggeste d that companies should focus on ways to encourage potential individuals who show corporate entrepreneurial qualities (Kollman, 2008). According to general definition of corporate entrepreneurship, it refers to activities that enhance new product and service development and especially development of new business models and business ventures. Companies, who encourage corporate entrepreneurship behaviour within their firms, enjoy improved internal efficiencies, higher employee morale which all leads to improvements in financial performance (Monsen, 2007). In corporate entrepreneurial companies, managers tend to implement new management trends to overtake old methodologies which are found to be boring and frustrating. Such changes in management bring them success and effective changes in structure and systems will show significant results over longer time period. All researches done on the arena of corporate entrepreneurship have suggested that firms should encourage corporate entrepreneurship to attain positive results in a long run. Most of the studies are focused on examining the impact of corporate entrepreneurship on financial performance of the firm and how it motivates individuals to work on sustaining financial improvements. However financial improvements are not only the benefits contributed by corporate entrepreneurship but it involves certain non-financial benefits too. Lumpkin and Dess (2005) argued that in addition to financial performances (market share growth, sales growth, financial profitability etc), outcomes of corporate entrepreneurship also includes valuable non financial benefits that assist firm to sustain financial improvements. According to Lumpkin and Dess (2005), satisfaction and commitment of organizational members in achieving companys vision are crucial non financial benefits to organization from corporate entrepreneurship. Dover (2002) defined job satisfaction as a pleasurable or favorable emotional state derived from an evaluation of ones job or job experiences. In contrast to this, affective commitment is defined as degree of employees emotional attachment to his or her organization. Both the job satisfaction and commitment have a positive influence on motivation and leads to greater organizational effectiveness. Most importantly researchers, Hindle and Cutting (2002) have positively related both to corporate entrepreneurship.

Ebay & Paypal

With more than 94 million active users globally, eBay is the world's largest online marketplace, where practically anyone can buy and sell practically anything. Founded in 1995, eBay connects a diverse and passionate community of individual buyers and sellers, as well as small businesses. Their collective impact on e-commerce is staggering: In 2010, the total worth of goods sold on eBay was $62 billion — more than $2,000 every second. For the latest stories about eBay, including recent financial performance, With more than 94 million active registered accounts worldwide, PayPal has made it possible for individuals and businesses to pay and get paid online across different locations, currencies and languages. Responding to the eBay community, which had quickly adopted PayPal as its preferred payment method, eBay Inc. acquired the company in 2002. Since then, PayPal's customer base has grown, both on eBay and across e-commerce. Having built a single global payments engine that has some of the best risk and fraud detection capabilities in the payments industry, PayPal continues to be one of the leading ways to pay online. Today, PayPal is available in 190 markets, 24 currencies, and is accepted by millions of online merchants around the world. With more than 94 million active users globally, eBay is the world's largest online marketplace, where practically anyone can buy and sell practically anything. Founded in 1995, eBay connects a diverse and passionate community of individual buyers and sellers, as well as small businesses. Their collective impact on e-commerce is staggering: In 2010, the total worth of goods sold on eBay was $62 billion — more than $2,000 every second. For the latest stories about eBay, including recent financial performance,

What Does Failure Essay Topics Mean?

What Does Failure Essay Topics Mean? Life, Death and Failure Essay Topics Your heart seemed to stop beating each time you hear his favourite songs. If someone doesn't believe in his power, he'd never achieve his objective. For example you wish to be a prosperous person in your life, you have to be generated to have the urge to do good things. When you're an ambitious person then you'll be able to accomplish your goal. Failure is among the most fundamental building blocks of succeeding. I'm excited about the capacity of a number of them. It ought to raise and cultivate new beginnings so it can know its creative potential. The History of Failure Essay Topics Refuted Successful small business people decide to be prosperous. It is not something related to the richness by money. It is not the answer if you're looking to ease your problems. For each one of the Common Application essay topics, the various parts of your story will serve the very same standard function. Your essay should consist of a great deal of specific detail. Richard's essay wouldn't be appropriate in all situations. Essay or paragraph writing competitions are usually held in the schools or colleges so as to enhance the skill level of students on several topics. The brainstorm is essential. Some students grab paper and start sketching. A couple of students said they were so focused on meeting the specifications they couldn't consider the essay topic. Failing students, give them with the chance to try hard for what they would like to accomplish. Resiliency is the capacity to bounce back from any kind of adversity or the way to adapt in a disruptive circumstance or occurrence. Your skills ought to be complementary not redundant. Mental toughness is the capability to consistently perform toward the top assortment of your talent and skill regardless of competitive conditions. This is the capability to never quit. Athletes have long been known to embody certain traits which can be invaluable in a variety of facets of life. It's extremely difficult to locate decent folks who have skills. Failure is in reality a step forward or progress towards your objective. Completing his college requirement is a terrific success. To begin with, when you pitch your idea like this it seems like a copycat that is really bad. Yet be prepared to reach a specific goal must be to have a determination to attain cafe. Of course you wish to reach a specific aim. Oftentimes there are several complexities which may have resulted in their demise, which at best would be speculation. Whenever you are an M.S. or a Ph.D. student you haven't any life. Failure, on the flip side, is a little more difficult to justify. It is what makes us better. It is the only way to succeed. It is simply just feedback for what you need to do next time in order to be successful. Keep the Desire Desire is the level of energy you're eager to exert to achieve your goal. Heart failure is a syndrome that happens when the heart can't pump enough blood to meet with the body's metabolic needs. It is usually classified according to the side of the heart that is affected. The Do's and Don'ts of Failure Essay Topics The government regulation on the opposite hand will decrease the pollution to the atmosphere and also lead to the decrease in market failure. The principal purpose is to make sure good growth and valuable employment creation in the nation with the support of top investors. The party involved will seek out repayment for the externality but this can result in a decrease in output. When you try, there's no guarantee you will succeed. Indivisible goods are goods that maynot be divided. Manufacturers and distributors list their whole product catalogs free of charge. The organization is known as Chicago Climate Exchange and it is among the few businesses in the world that caps and trades greenhouse emissions. This provider is effectively allocating resources to stop market failure.

Speech On The Hitler Youth - 913 Words

Speaking on the Hitler Youth, and just how violently anti-Semitic the group was, Jewish survivor Marcel Back explained, â€Å"On Sundays we like to go have a nice excursion in the forest, and then you saw a few of those so you tried to avoid to get close to them because they could beat you up (USC SFI VHA, Marcel Back).† Another survivor, Fred Berdach noted, â€Å"There were Hitler Youth on the streets [†¦] and they became bullies. You were bullied in the streets, you were bullied in the schools, you were bullied anywhere and everywhere (USC SFI VHA, Fred Berdach).† Berdach’s account was in reference to the evolution of the Hitler Youth in 1938, just three years before the beginning of the mass killing. Many of the then Hitler Youth members would have been eligible to become soldiers in WWII, as well as the older ex-members. Perhaps the Hitler Youth members played the roles of enforcers of the killing program and pressured others into doing the same. A furth er demonstration of latent prejudice in twentieth century societies contributing to genocide is the lack of large-scale support for the Jews from outsiders. According to Shlomo Aronson, the Allied Powers had influence in the Holocaust and could have taken steps to lessen the plight of the Jews, but instead turned a blind eye (Aronson, pp.266). Citing three sets of circumstances influencing Allied decisions to not intervene, Aronson noted that the Allies were not keen on being depicted as Jew-sympathizers and were in fact veryShow MoreRelatedAdolf Hitler: One of the Most Talented Orators in History Essay1691 Words   |  7 Pages, changing the world and the views of people for the better with his â€Å"I Have A Dream† speech, or German dictator, Adolf Hitler, pushing his anti-semitic views through his Nazi speeches, people listened. People will always listen to these speeches and take away something different each time. 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