This dissertation examines the concept of corporate entrepreneurship and the commandments of intrapreneurship. Entrepreneurship is the process of developing a business to make a profit. Therefore, corporate entrepreneurship is the support of employee entrepreneurship within the company. Creativity among employees is encouraged for introducing new products in the organizations. The importance of corporate entrepreneurship is the facilitation of growth due to the introduction of new products. Secondly, increased productivity due to employee motivation. Third, improved competitive advantage from heading the competitors. Corporate entrepreneurs possess characteristics such as courage, resilience, and open-mindedness. Therefore, to achieve success, corporate entrepreneurs should embrace teamwork, free flow of information, and coordination.
concept of corporate entrepreneurship and commandments of intrapreneurship
UNDERSTANDING THE COMMANDMENTS OF INTRAPRENUERSHIP
The concept of corporate entrepreneurship is known as intrapreneurship. These commandments are principles guiding the conduct of business entrepreneurs. The commandments of intrapreneurship are ten in number. Thus, the first is employees report to work with expectations of termination. Second, the overcoming of orders preventing the fulfillment of dreams. Third, doing all jobs for the success of projects. Fourth, finding people who can offer assistance. Fifth, trusting one’s intuition and expecting the best. Sixth, undertake your works privately. Seventh, never run a race unless you’re participating. Eighth, asking for forgiveness is easier than asking for permission. Ninth, set realistic goals. Lastly, the honoring of sponsors is crucial.
understanding the commandments of intrapreneurship
INTERNAL AND EXTERNAL CHALLENGES FACING BUSINESS ENVIRONMENTS
Business environments are elements that influence the operations of any given business. The commandments of intrapreneurship can only be adhered to once employees understand the business environments. Varying challenges facing the internal and external business environments exist. The internal risks include financial instability, which is the inability to sustain financial obligations. Unclear organizational structure and chain of command can pose as a challenge. Furthermore, the unequal distribution of resources affects the operation of the business. External environment challenges are political instability, outdated technology, rejection by society, and economic instability. The importance of corporate entrepreneurship is that it analyses the environments hence promoting growth.
internal and external challenges facing business environments
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