Corporate Managers
Autor: moto • January 16, 2014 • Research Paper • 1,040 Words (5 Pages) • 1,129 Views
In a world characterized by intensified global competition and increasingly uncertainty, the
need for organizations to become more innovative in order to survive and grow is increasing
rapidly.
Competition
People that are entrepreneurial are vital to deal with competition and for the organization to
enjoy sustained competitive advantage in the global market. Organizations with people that
are less entrepreneurial in dynamic environment are likely experienced declining performance
(Ahuja & Lampert, 2001). According to Dr Gary .P. Hamel, the economy has moved from
"knowledge" to "creative" and hence, organizations reinvention needs to be deep and
dramatic. This is because consumer's preferences are constantly changing and they may
form a higher expectation of the company's product and services. If an organization failed to
have people with the entrepreneurial mindset to respond to the changes and opportunities in
the marketplace, it will not be able to keep up with the trend. Once an organization misses the
opportunity, competitors who are able to respond quickly to the current trends would overtake
it. This happened to Nokia, who was a market leader back in 2000s. However, they were too
slow in innovating and were eventually overtaken by Apple - a place where innovation is so
deeply embedded in their culture. Hence, it is the people who are entrepreneurial in
organizations that will consistently explore and exploit previously untapped opportunities,
promoting product and process innovation, willingness to take risk and supporting
organizational renewal.
Being entrepreneurial is not confine to creating new and innovative products and services to
"save" the company from crisis. It can be coming up with ideas to solve and improve
organization processes or coming up with new business model to run the business in a
superior ways than competitors. In the case of Dow Chemical, Ian Telford, the European
Sales Director for EP&I, viewed the dot.com as the perfect solution to solve the idle capacity
at
...