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Building entrepreneurial and innovative organizations

Building entrepreneurial and innovative organizations

Coulson-Thomas, Colin (2013) Building entrepreneurial and innovative organizations. Effective Executive.

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Traditional compliance can stifle enterprise while appropriate support can both liberate and reduce risk. The interests of customers, independent entrepreneurs, companies and investors are rapidly converging. We are at a turning point in the relationship between people and organizations and between micro-businesses and larger companies. Performance support gives us an historic opportunity to reconcile and align individual and corporate goals.

In seeking to generate new income streams, adapt to changing circumstances, differentiate and create new options and choices, many boards consider ways of making organizations more entrepreneurial and innovative. Should directors be looking to change a corporate culture as well as an organization’s ways of working? If behavioral changes are sought, are there quicker and more affordable options than the protracted, costly and expensive approaches that are often adopted?

Companies need to become enterprise colonies that tap, build, and release the entrepreneurial potential within their people and relevant external networks and communities (Coulson-Thomas, 2007). In this paper, we will look at how to address the reality that, increasingly, ambitious individuals want to work with organizations rather than for them, and enable more creative responses, while at the same time avoiding unnecessary risks and maintaining prudent control.

We will see that there are ways of ensuring responsible entrepreneurship. We will also look at innovation and the development, launching and selling of new offerings. Using traditional product development approaches only a very small proportion of projects initiated may lead to a profitable offering. The cost of recruiting teams of highly talented people for new initiatives and ventures that might not succeed can be daunting, if not prohibitive.

Item Type: Article
Uncontrolled Keywords: sustaining success, idealistic notion, financial fraud, future implications, second-hand people, integrity maintainence, economic swings, dot-com bubble mania, financial breakdown, technological revolution
Subjects: H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HF Commerce
Pre-2014 Departments: School of Business
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Last Modified: 14 Oct 2016 09:28

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