MNGT2002 Business Venturing For Corporate Entrepreneurship Assignment
Things to consider.
2. Have you accounted for differences in responses to the same question?
3. Have you synthesised the responses into meaningful interpretations?
4. Have you followed a systematic approach in presenting your findings?
Answer:
Introduction
As rightly indicated by McKelvie et al., (2014), corporate entrepreneurship essentially points out towards development of novel ideas as well as opportunities within large or else established businesses. This essentially directs towards improvements of profitability and an augmentation of competitive position or else strategic renewal of existing businesses. Particularly, corporate entrepreneurship is essentially vital for different large corporations that enables these firms that are necessarily averse to risk to assume innovation, driving leaders along with teams towards an enhanced level of corporate enterprising. Particularly, the obvious advantages acquired by means of innovation delivers organizational benefits of establishing the phase for continuity of leadership.
Study of Background
Background of the Company
The present report emphasizes on the intensity of entrepreneurship of the corporation ABC. The corporation is founded on Australia and involves in the business process of exporting for the last 15 years. Again, in a bid to understand, the entrepreneurship intensity as well as climate for corporate entrepreneurship, requisite data has been acquired from managers from different anonymous sources.
Purpose of the report
The primary purpose and intention of the present report is to investigate the intensity of the entrepreneurship of the corporation ABC founded on diverse dimensions and primary research evaluation. Besides this, the current report also intends to analyse both the degree as well as the amount of entrepreneurship that can be evidenced founded on innovativeness and pro-activeness within a specific business organization.
Theoretical Notions
Defining the concept of corporate entrepreneurship
Corporate entrepreneurship can be referred to as the actions that receive organizational sanction along with resource commitments so as to achieve definite innovative outcomes (Burgers & Covin, 2016). Again, corporate entrepreneurship can also be indicated as a procedure in which individual or else a particular group of individuals in combination with an existing corporation can develop a new business organization or else instigate restitution or innovation within a particular organization. In other words, corporate entrepreneurship can be referred to as a process that can assist business firms’ efforts to innovate continually and cope effectually with the competitive realities that firms encounter at the time of competing in global markets.
The concept of corporate entrepreneurship essentially indicates towards development of novel thought, ideas as well as opportunities within particularly large or else established businesses (Pitt et al., 2015). This in turn directly leads to enhancement of profitability of business and augmentation of competitive position of the businesses.
Need for corporate entrepreneurship
As rightly indicated by Turró et al., (2014), emergence of new as well as sophisticated competitors, sense of distrust in traditional mechanisms of corporate management, global competition, downsizing of major companies essentially drives the need for corporate entrepreneurship. Addition to this, the desire to enhance efficacy as well as productivity also calls for the need of corporate entrepreneurship (Dushnitsky & Birkinshaw, 2014).
Levels of entrepreneurship
Different levels of entrepreneurship include the following:
- Entrepreneurial intensity (EI)
- Degree of Entrepreneurship
- Entrepreneurship Dimensions
- Implementation of Entrepreneurship Grid (Lerner, 2013)
Entrepreneurial intensity (EI) and the Corporate Entrepreneurship Climate
Entrepreneurial intensity can be defined as the extent to which both the degree or else frequency of entrepreneurship can be demonstrated within a particular organization. Entrepreneurial intensity also indicates towards three different aspects that includes risk-taking, innovativeness and pro-activeness. Again, it can be hereby mentioned that an organization that is high on these three aspects is necessarily high on entrepreneurial intensity (Titus et al., 2014). On the contrary, climate for corporate entrepreneurship indicates towards a work environment that employees of an organization face on a daily basis. Particularly, this can be associated to rewards and recognition, motivation of employees, pleasure at work, process of management of time along with the boundaries of the respective corporation. However, primary difference between entrepreneurial intensity (EI) and the climate for corporate entrepreneurship is the variances in the focus of the two concepts (Van den Bosch & Duysters, 2014). EI essentially concentrates on the diverse managerial level, whilst climate for corporate entrepreneurship mainly sheds light on the employee level. Besides this, it can hereby added that there exists positive association between two different variables. As such, in case if there exists positive climate for corporate entrepreneurship, then entrepreneurial intensity is assured to remain on positive side (Kuratko & Audretsch, 2013).
Research Methodology
There are two different sets of data that have been analysed in the present study. The responses to the questions contained in the framed questionnaire for the present study is necessarily rated using the likert scale. For the data on the entrepreneurial intensity (EI), the size of the sample is equal to 6 that is composed of 5 managers and the chief executive officer of the firm. Again, in case of definite factors of corporate entrepreneurship, the sample size is essentially equal to 15 in which the sample is certainly anonymous. Besides this, the researcher uses random probabilistic sampling mechanism for selection of the sample for the current study in which each unit of the target respondents have equal probability of getting selected. Furthermore, the present study also utilizes the quantitative research mechanism for numerical presentation and analysis of the acquired data for the study. The learner also employs the descriptive statistics for interpretation of the amassed data. Owing to this reason, questionnaire containing the close ended questions can be used and thereafter rated using the likert scale. Again, there are numerous benefits of the likert scale that can be used for enumerating the degree of agreement of the respondents of the respondents and measures the way partakers of the survey feel regarding a particular aspect. In the current study, a five point likert scale is used where 1 to 5 refers to strongly agree to strongly disagree.
Data Analysis and Discussion
Entrepreneurial Intensity
Particularly, entrepreneurial intensity can be enumerated founded on three different facets
Hello entrepreneurial intensity can be enumerated based on three different facets namely innovativeness pro-activeness and risk taking ability.
The above mentioned table helps us to understand that most of the respondents of the service have agreed from the perspective of the three different factors particularly in case of the present organisation ABC. Owing to this reason all the different factors are essentially ranging from the scale that is 2 that stands for (Agree). It can also be seen in 3 of the cases that standard deviation is lower than the average. Thus, it can be hereby concluded that majority of the respondents have replied near to the average on the other hand the above table also helps in understanding the fact that standard deviation is hired in case of the factor pro-activeness does it can be here by said that the responses provided by the respondent are dispersed.
However, the results can be considered to be a positive sign are a favourable factors for the organisation ABC going to this reason the degree the intensity of entrepreneurship is around 2 more precisely 2.3
From the outcome of the above table it can be here by mentioned that the entrepreneurial intensity for the business concern ABC is approximately 2.02 essentially this factor for the replicates the fact that majority of the respondents have agreed to the fact that all the three different factors relate to a certain degree of entrepreneurship
Outcomes of explicit climatic variables
From the above mentioned outcome it can be hereby concluded that particles of the survey have agreed in case of the particular variable “support of the “. However in all of the 19 given question the average is approximately 2 and standard deviation is registered to be low. Again it can also be concluded from the above table that the variances in the same question can be enumerated with the assistance of standard deviation. The above table therefore reflects that variances provided in the responses is on a lower bracket. Further, it can be added that the employees of ABC company management obtains effectual support of the management on a regular basis.
Discretion of Work
In the particular case of word discretion it can be here by mentioned that majority of the particles of the survey provided a positive response in case of most of the questions. However this can be represented using the following graph
The above mentioned figure replicates the fact that all the questions provided in the questionnaire received a positive response accept one question that is associated to freedom of utilisation of own decision. Besides this, standard deviation calculated for this purpose is recorded to be low. Essentially this can be regarded as a favourable sign for the business concern ABC. Thus, it can be here by mentioned that the farm ABC has registered a good performance from the perspective of work description.
Rewards and re-enforcement
Particularly the case of rivers as well as re-enforcements can be analysed from the responses. Analysis of the responses reveals the fact that majority of the partakers of the survey provided negative response in case of all the questions that is hereby reflected using the following graphical presentation. Analysis of rewards and reinforcement reveals the fact that the organisation ABC needs to enhance the reward framework in a bid to motivate and inspire their employees.
Availability of time
Particularly, the case of availability of time can also be analysed from the given study. Analysis of the outcomes reflects the fact that majority of the respondents provided a mixed feedback in case of almost all the questions.
The feedback provided by the respondents are very much mixed specifically in case of availability of time. Particularly, in case of the question that deals with the structure of the job, most of the partakers have provided a negative feedback. This replicates the fact that the business concern ABC needs to augment the existent job structure. Apart from this, it can be also be mentioned in this connection that the management of the company also need to enhance any kind of time constraint that are essentially available for the specific job.
Boundaries of organization
Analysis of the responses reveals the fact that majority of the respondents provided a mixed response to all the questions pertaining to particularly boundaries of the organization. However, it can be graphically presented as below:
The above-mentioned graph replicate the fact that the average of the responses are essentially on a higher side in majority of the cases. Nevertheless, standard deviation is low that again reflects that the responses are essentially dispersed. However a vital finding in this case is that the workforces do not have a transparent and clear standards of performance. They are not aware about what is expected from them as regards performance.
Conclusion
From the above mentioned study it can be hereby concluded that the value of the entrepreneurial intensity of the business concern ABC is sound from the perspective of benchmark of the industry. Nevertheless, the climate for entrepreneurial suggest that the administration of the organisation needs to alter certain things in a bid to maintain sustainability in the future. The administration of the business concern needs to institute appropriate standards to enumerate performance of the employees. Furthermore, the employees of the business concern also need to have a clear view regarding the performance expectations of the management. Thus, it can be said that both the entrepreneurial intensity as well as the climate for corporate entrepreneurship plays a vital role in arena of corporate entrepreneurship.
References
Burgers, J. H., & Covin, J. G. (2016). The contingent effects of differentiation and integration on corporate entrepreneurship. Strategic Management Journal, 37(3), 521-540.
Dushnitsky, G., & Birkinshaw, J. (2014). Corporate venturing virtual special issue. Strategic Management Journal.
Kuratko, D. F., & Audretsch, D. B. (2013). Clarifying the domains of corporate entrepreneurship. International Entrepreneurship and Management Journal, 9(3), 323-335.
Lerner, J. (2013). Corporate venturing. Harvard Business Review, 91(10), 86-+.
McKelvie, A., McKenny, A., Lumpkin, G., & Short, J. C. (2014). Corporate entrepreneurship in family businesses: Past contributions and future opportunities. SAGE handbook of family business, 340-363.
Pitt, L., Berthon, P., Robson, M., & Prendegast, G. (2015). Does Corporate Entrepreneurship Influence Innovation in Service Firms?. In Proceedings of the 1997 World Marketing Congress (pp. 639-645). Springer International Publishing.
Titus, V. K., House, J. M., & Covin, J. G. (2014, January). Resource stocks and needs as drivers of external corporate venturing. In Academy of Management Proceedings (Vol. 2014, No. 1, p. 11566). Academy of Management.
Turró, A., Urbano, D., & Peris-Ortiz, M. (2014). Culture and innovation: The moderating effect of cultural values on corporate entrepreneurship. Technological Forecasting and Social Change, 88, 360-369.
Van den Bosch, J., & Duysters, G. (2014). Corporate Venturing: Organizing for Innovation. Edward Elgar Publishing.
