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Entrepreneurial Behaviour and Barriers to corporate entrepreneurship- A case study of L’oreal
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In the modern business context, the term ‘entrepreneurship’ becomes excessively familiar than the last few years, however, for many people, this is still an emerging topic of enquiry. Based on some of the recent evidence of a number of larger organisations, it can be stated that currently business researchers provide their attention on the exploration and explanations of the entrepreneurial prediction associated with several aspects, such as creation of new venture, growth, development, innovation, and so on. According to the viewpoints of some business developers, it can be stated that entrepreneurship is not any business attitude; it is actually a state of mind of the business personnel. However, as mentioned earlier that many people do not have any clear idea about the entrepreneurial attitudes, therefore, organisations often face several barriers due to these entrepreneurial concepts. The report highlights the entrepreneurial concepts and the barriers regarding this matter faced by the renowned organization, L’oreal.
The main concept of corporate entrepreneurshipfollowed by L’orealis dependent on a number ofprogressive business elements; such as strategic renewal, innovation, and corporate venturing. Corporate entrepreneurship is often termed as intrapreneurship, as it only occurs inside the established organisations. Evidence suggests that every organisations want innovation and organic growth in their operational process, but in most cases, they do not have proficient supports for increasing and upholding the growth factors over time. As per the statement ofArdichviliet al. (2003), focusing only on innovations is not sufficient for improving the positional aspect in the modern competitive corporate world.
Figure 1: Corporate Entrepreneurship
(Source: Ardichviliet al. 2003, p.108)
In order to maintain or improve the business standardsof L’oreal, organisation requires building some innovative strategic frameworks for accelerating their new business growth. Block and MacMillan(1993) mentioned that at these viewpoints, L’oreal focus on the process of corporate entrepreneurship, for developing new business process, products, and services, through which they would create new values and uphold their revenue standards in the current competitive market place. Based on some recent corporate reviews of L’oreal, it can be stated that the creativity and passionate behaviours of the L’oreal employees support them in retaining their entrepreneurial behavio.............
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