Essay > Words: 2323 > Rating: Excellent > Buy full access at $5
Entrepreneurial Behaviour and Barriers to corporate entrepreneurship- A case study of L’oreal
Table of Contents
In the modern business context, the term ‘entrepreneurship’ becomes excessively familiar over the last few years, however, for many people, this is still an emerging topic of inquiry. Based on some of the recent evidence of several larger organizations, 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 the 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 entrepreneurial attitudes, therefore, organizations 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 entrepreneurship followed by L’orealis dependent on a number of progressive business elements; such as strategic renewal, innovation, and corporate venturing. Corporate entrepreneurship is often termed as intrapreneurship, as it only occurs inside the established organizations. Evidence suggests that every organizations 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)
To maintain or improve the business standards of L’oreal, organization requires building some innovative strategic frameworks for accelerating their new business growth. Block and MacMillan(1993) mentioned that at these viewpoints, L’oreal focuses 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 behaviors of the L’oreal employees support them in retaining their entrepreneurial behavior. However, based on the comments of Ucbasaranet al. (2010), organizations need to focus on determining and analyzing the right opportunities, which would be applied to their
Type: Essay || Words: 2323 Rating || Excellent Subscribe at $5 to view the full document.
Buy access at $5