functionality and entrepreneurship organization
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The document discusses the features and development of entrepreneurial organizations, highlighting the importance of hiring entrepreneurial individuals, fostering teamwork, and creating a supportive culture. It also emphasizes the role of networking for entrepreneurs, as it enhances business effectiveness through relationship building. Additionally, it covers employee motivation through compensation and the significance of a value system in guiding business decisions.
functionality and entrepreneurship organization
- 2. Entrepreneurship Organization: • entrepreneurial organizations are structures that promote the emergence and development of ideas from all members of the firm. To be functional, such an organization must have specific features that allow alternative views to emerge. • An entrepreneurial organization combines several aspects of entrepreneurship and firm flexibility, namely, specific attention processes to make it possible for junior and senior managers to attract the attention of the decision makers, specific decision mechanisms.
- 3. How do you develop an entrepreneurial organization? • For developing an entrepreneurial organization, Entrepreneur must do: 1. Hire Entrepreneurial People. 2. Learn How To Manage Them. 3. Build Entrepreneurial Teams. 4. Create An Entrepreneurial Culture
- 4. Entrepreneurship Teamwork • teamwork is crucial for a successful entrepreneur: The main goals of teamwork are to improve productivity and motivation. • Teamwork is a bonding agent and a lubrication of sorts. • Teamwork brings people together and motivates them to rely on one another to get things done.
- 5. Entrepreneurship Teamwork • Teamwork creates a system to ensure that deadlines are met and that there's high quality work. • When one team member falls behind, there's another to pick up the pieces. • When work is divided up among members of a team, it gets done faster, making the overall business operate more efficiently.
- 6. Entrepreneurship Networking organization • The definition of a "network" being a system of interconnected components, an "entrepreneurial network" is an association of entrepreneurs organized, formally or informally, with the object of increasing the effectiveness of the members' business activities.
- 7. BENEFITS OF NETWORKING FOR THE ENTREPRENEUR • Commercial exchange is, by definition, a social activity. It involves exchange between at least two people. • For the entrepreneur starting a business, entrepreneurial networks offer genuine benefits. • Primarily, among these are opportunities to build relationships. Such relations need not necessarily be with people narrowly linked to business. Any and all relationships help—but those with peers are more valuable.
- 8. Motivation and compensation in entrepreneurship • Employee motivation through compensation can come in the form of raises, performance bonuses, commissions, profit sharing, or any number of "extra benefits" like, automobiles, vacations, or other tangible items purchased and used as rewards. • Motivated Employees Lead To High Value Of A Position Fair compensation and benefits can lead to greater job satisfaction, meaning employees are happy in their job position and are less likely to want to move jobs.
- 9. Value system in entrepreneurship • Definition of value system is the system of established values, norms, or goals existing in a society. • A value system is the network of organizations and the value producing activities involved in the production and delivery of an offering. The major business processes are the value producing activities.
- 10. What is the importance of value systems? • Makes tough decision-making easy The result of this is obvious: entrepreneur will make decisions based on entrepreneur core values strictly and nothing else. • Having a value-system means entrepreneur have one system of belief from which entrepreneur make all their life decisions, which includes business decisions as well.