Every businesses in company has its own slump or downturn giving hard times to preserve the growth of enterprise. For an instance, the recession occurrence — a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters. There are many types of entrepreneurship in this world, one of it is a corporate entrepreneurship that seems has drawn people in on how the conception and ideas are about. Hence, get a glimpse all about corporate from industrial talk from notable and famous professional speakers.
First and foremost, the influenced entrepreneur in coffee industry — Mr Howard Schultz, the president chairman and chief executive of a renowned coffee company that most people likely to go, ‘Starbucks’. In the talks business, he mainly spoke about his passion and love of the company. In addition, he told the awe-inspiring history of the Starbucks and a little bit about what it was like growing up in the projects in Brooklyn in the 50s and 60s.
Next businesses talk video is mainly about an entrepreneurial culture in business with ABN’s Samantha Loring spoke with Finweek, Simona Levet and Jessica Hubbard and Marks-Director, GIBS Deon Oberholzer, CEO, Veri-Com. They looked into the issues emerged like-is the idea of the corporate entrepreneur an illusion or something that the real innovative big businesses get right? With the word innovation being bandied around by many businesses trying to adapt to a new world order, they took a look at how businesses can instil an entrepreneurial culture without losing their corporate identity.CONTENT
What is corporate entreneurship?
From my understanding, corporate entrepreneurship in simple word is an entrepreneurial organisation that innovates and develops a new business idea that does not yet exist. It creates a new venture as a strategy of its growth in which creating a new term underneath — intrapreneurship, is an employee who proposes and manages a project within the company in which he works. He bears a moral risk but non a financial risk meanwhile corporate entrepreneur bears financial risk.
Intrapreneur is a person within an organisation who is a highly competent and trusted employee and contributes significantly for the organisational growth and development whereas corporate entrepreneurship is a process of starting a new promising venture or a new way of business which is scalable and profitable by the knowledgeable entrepreneurs with a motive to create value based business with promising returns.ISSUE HIGHLIGHTED
MAINTAIN CORPORATE IDENTITY WITH ENTREPRENEURIAL CULTURE INFUSING
‘I think the interesting thing is that that if you look at the term entrepreneur it’s about starting a business. That’s way that greed generated from in other words. It’s about a business where there wasn’t one and building it and employing people as a big corporate.’
For instance, Steve Jobs who once took hold a division within Apple, which at that point is a huge corporate until now and he led a Macintosh team which came up with the one of the most innovative products in the world but he instilled his team with entrepreneurial culture.
INNOVATIVE THINKING BY ACTING OUTSIDE THE BOX
‘I imagine that innovation is an outcome, but entrepreneurship is a process so I think that firms that are highly innovative’
‘We want to see innovative thinking we want to see some risk-taking we want to see somebody to think outside the box so that’s a great thing’
one of the key things that large corporates struggle with with respect to implement new corporate entrepreneurship is to allow for failure because I think there’s little reward for failure a few people are promoted when they fail
So one avoids failure and unfortunately failure and risk are synonymous with entrepreneurship
Incentivization for example FMB in South Africa firms that creates a system that encourages entrepreneurship or entrepreneurial thinking will naturally have some sort of incentive ization to support that and I think then you’ll see entrepreneurial activity leading to innovation
Entrepreneurial activity leading to innovation
DISCUSSION & RECOMMENDATION CONCLUSIONREFERENCES