Entrepreneurial Perspective Advice
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A friend asks your advice on changing his medium-sized company to a more entrepreneurial culture. Recommend the initial strategies your friend should use in order to succeed in this change. Discuss the strategy you created.
Formulate and justify three criteria to use when making the choice between narrow-scope and broad-scope market strategies for an established business. Provide an example for each.
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Strategies for Entrepreneurial Culture Change
There are various strategies that a medium sized company can use to become an entrepreneurial cultural company in the market. For this, company can communicate the aims and objectives of the organization to the employees and other stakeholders. It can be helpful to inform stakeholders about the culture change in the organization. After this, company managers can involve all the stakeholders in strategy making process. In this, managers can receive suggestions in order to make more effective culture in the company. In order to develop an effective entrepreneurial culture, company can provide the training and development programs to the employees (Ireland, Hoskisson & Hitt, 2008). It can be helpful for the company to influence employees to do their work with zeal and enthusiasm.
Development programs can also be helpful for the company to motivate employees to share their problems with each other. It can be supported new employees to gain experience from old employees of the company. It can also be helpful in developing effective culture and also helpful in reducing conflicts between employees and management team of the medium size company. In the strategies, company can also improve communication process. With ...
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