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Discuss the Importance of Intrapreneurship to Business Development & Growth Firms

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Introduction

Department of Entrepreneurial Management Discuss the Importance of Intrapreneurship to Business Development & Growth Firms 11/01/2005 1.0 Introduction: Large organisations have strived over the last decade to promote additional entrepreneurial activity and to capture more opportunities than their normal product development systems seem to permit.1 The dialog between entrepreneurs and intrapreneur has been limited to date, but has potential for providing substantial synergy for both efforts.2 Another topic of the paper is growth firms. This report keeps focus on the importance of growth for firms itself and social benefit: business development and job creation. The author also presents the driving force for the growth, including entrepreneur and other factors in a firm. 2.0 Methodology: This is a literature study. The paper is divided into two main sections in terms of each topic. The author set about consulting the lecture handouts from the course to create a list of points to consider, after which a selection of books from the library were chosen for further study, report outline being upgraded and enlarged when suitable new points were found. At the same time, a search on the Internet using keywords such as 'intrapreneurship', 'growth firms' and 'entrepreneurial corporate', was carried out, resulting in thousands of pertinent responses being displayed. In making a critical selection, about 80 articles organized as an electronic-formatted literature, including journals, periodicals, and works citations which were found to be of interest to this research. After reviewing and filtering, the researcher recapitulated the main points as stated in the following sections. The Importance of Intrapreneurship to Business Development 3.1 Appearance of 'Intrapreneurship' World is changing. ...read more.

Middle

3.0 The driving force of growth The owner is the only person who can decide whether to go for growth, and all that it entails, or to establish comfortable limits (Burns and Harrison, 1996). Deakins stated, 1999, 'the person or entrepreneur that enters small business ownership because they have desires to develop their businesses, to achieve growth, expand employment and grow into a medium-sized or large firm.'19 Burn and Harrison also list seven characteristics of entrepreneurial owners in growth: opportunistic, adventurous, 'ideas' people, restless, high-profile image makers, proactive, and innovative.20 The entrepreneurial owner will have a plan for dealing with changing situation, and then make growth rapid (Paul and Jean, 1996: 41). However, Burns and Harrison argue that, 1996, for the majority of business owners, the decision is about how to keep success at a maximum while maintaining the size of the company for their own comfort (Paul and Jean, 1996: 41). Why then are there so few 'high growth companies'? As Scott and Rosa asked, is it really true that most small firm owner manger lack of the entrepreneurial drive and motivation to grow their assets? They present findings in an ISBA conference, 1997, as entrepreneurs grow their total capital assets through stating several firms, rather than growing a new one to its optimal limits.21 Initiated from the element of entrepreneur, as well, other factors are also playing significant roles in growth, such as management, marketing, accounting and finance (Burns and Harrison, 1996). Barber et al suggest that, 'the challenge facing the growing firm can be stated in terms of a move from relatively narrow market niches in which it exploits a narrow range of distinctive assets into a situation in which it serves ...read more.

Conclusion

251 10 Some Thoughts on Intrapreneurship, http://www.chrisfoxinc.com/Intrapreneurship.htm 11 Ndniel Muzyka and Neil Churchill, The Evolution of Entrepreneurship in Large Organisations, Mastering Entrepreneurship: Your Single-Source Guide to Becoming a Master of Entrepreneurship, Ed by Sue Birley, Dan Muzyka, Financial Times, 2000, P.349 12 David Kirby, Entrepreneurship, McMillan, 2003 13 Daniel Muzyka and Neil Churchill, The Evolution of Entrepreneurship in Large Organisations, Mastering Entrepreneurship: Your Single-Source Guide to Becoming a Master of Entrepreneurship, Ed by Sue Birley, Dan Muzyka, Financial Times, 2000, P.349 14 David Deakins, Enterprise Support and Government Policy, Entrepreneurship and Small Firms, 2nd Edition, 1999, P. 179 15 Paul Burns and Jean Harrison, Growth, Small Business and Entrepreneurship, 2nd Edition, 1996, P. 40 16 High-growth Firms and Employment, http://www.oecd.org/LongAbstract/0,2546,en_2649_37451_1826322_1_1_1_37451,00.html 17 Paul Schreyer, High-Growth Firms and Employment, STI Working Papers, 2000/3, Directorate for Science, Technology and Industry, http://www.oecd.org/dataoecd/25/36/1826335.pdf 18 Donald Rumball, Dynamics of Growth: Is High Growth Sustainable? Leading Growth Firms Series, 2001, http://www.ontariocanada.com/ontcan/en/PDF_HTML/Priority-2/w-e-dynamics-of-growth.htm#6 19 David Deakins, Entrepreneurial and Growth Firms, Entrepreneurship and Small Firms, 2nd Edition, 1999, P. 201 20 Paul Burns and Jean Harrison, Growth, Small Business and Entrepreneurship, 2nd Edition, 1996, P. 48 21 Michael Stott and Peter Rosa, New Businesses from Old: the Role of Portfolio Entrepreneurs in the Start-up and Growth of Small Business, in Small Firms Enterprising Futures, Ed by Monder Ram et al,1997 22 Barber, J, Metcalfe, S and Porteous M, Barriers to Growth: the ACARD Study', in Barriers Growth in Small Firms, Routledge, London, 1989 cited by David Deakins, Entrepreneurship and Small Firms, 2nd Edition, 1999, P.214 23 Smallbone, D, Leigh, R and North, D, The Characteristics and Strategies of High Growth SMEs, International Journal of Entrepreneurial Behaviour and Research, vol. 1, no. 3, P. 44 24 Jim Dewhurst, The Entrepreneurship, Small Business and Entrepreneurship, 2nd Edition, 1996, P.103 ?? ?? ?? ?? 2 ...read more.

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