IDENTIFICATION OF STRUCTURAL RESTRICTING AND DRIVING FACTORS OF DEVELOPMENT OF CORPORATE ENTREPRENEURSHIP (CE): A CASE STUDY
Corporate entrepreneurship is a process, which occurs in interaction with the environment. It appears that the environment plays a profound role in influencing corporate entrepreneurship: the more dynamic, hostile and heterogeneous the environment, more emphasis the company puts on entrepreneurial activities. CE activities enhance a company’s success by promoting product and process innovations. It is brought into practice as a tool for business development, revenue growth, profitability enhancement, pioneering the development of new products and services and processes. There are a number of environmental factors present in organizations implementing corporate entrepreneurial concepts. The factors are organizational structure, physical opportunities, organizational strategy, task methodology and process, control and supervision system, research and development system, wage and salary system, financial system, human resource system, and information system. Based on the research done, in order to maintain a successful entrepreneurship corporate the organizational structure should comprise of entrepreneurial organizations that are flexible and adaptable, far from the bureaucratic and mechanistic organization. Next, the organizational strategy should link entrepreneurship to a much more strategic management that enables public sector organizations to identify new opportunities and generate new process and service innovations. Moreover, Physical opportunites include all assets, buildings, office equipments, and vehicles. Besides that, Task methodology and process should be evaluated regularly in organizational entreprenurship and managers should omit and/or merge the processes which are recognized as barriers of innovation and entreprenurship or causes dissatisfaction of customers. On top of that,for controlling rules and supervision systems;controlling rules, regulations and policies should be decreased to a minimum level and a free controlling system should be designed. Besides that, through redistribution of specilalists between sectors and creation of favorable conditions for innovative activity in organizations, the effictiveness of existing science and engineering work would be increasing and this is only aplicable by R&D system. Next factor, payments in salary system of an innovative organization are related to performance not physical presence. The wage and salary system should be flexible and consider risk,ability and creativity criteria of individuals. Anther factor, successful entrepreneurial accomplishments will inevitably affect the firms’ financial performance in the long term, barely in the short term. Another important factor is the human resources which provide a source for competitive advantage and the quality of HRM is a critical influence on the performance of firms, the strategic approach is a characteristic of HRM. Lastly, information should be easily accessible throughout the organization. The decisions made based on the information are influenced by attitude and capacity to interpret information in order to make it meaningful and useful. In conclusion, all of the ten structural factors of corporate entrepreneurship is crucial in order to maintain a competitive advantage in the industry and able to secure a long term business continuity development in the near future.
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