Culture, in the organizational context, refers to a set of values, dominant beliefs and the guiding norms shared by the members of the organisation.
Culture, in the organizational
context, refers to a set of values, dominant beliefs and the guiding norms
shared by the members of the organisation. A good value system with internal
harmony widely diffused and shared throughout the organisation would help
induce entrepreneurial spirit. On the other hand, a confused value system with
internal disharmony, poor work ethics and weak morale mars the spirit.
The following measures help to foster conducive
culture within the organisation to breed and nurture entrepreneurialism.
-- Strong commitment and support of the top
management for innovation;
-- Adequate freedom for the organizational
members by pushing down autonomy for down the line;
-- Tolerance for failure to boost up the morale,
for new product ideas, as Peter Drucker points out, is like “frog’s eggs”. Of
the thousands hatched, only a few survive. No individual in the organisation
volunteers to experiment with new ideas, if failure involves career risks;
-- Adequate reward systems to motivate
innovative people through various reinforcing devices. In the west, lavish
banquets are frequently organized to honour the champions, in addition to
promotions, incentives by way of stock options, bonus, etc,
To sum up, entrepreneurship within the existing
business involves identifying new opportunities and steering the organisation
towards the development of new products and services. The entrepreneurial
activities in the existing business as such collectively called ‘corporate
entrepreneurship’ or ‘intrapreneurship’. Barriers to entrepreneurship include
the lack of ideas, market knowledge, general business know-how, lack of
appropriate strategy, etc.
Tags : Management Concepts & Organisational Behaviour - Creativity And Innovation
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