What is corporate entrepreneur? Corporate entrepreneur
is a type of entrepreneur other that independent entrepreneurship. Independent
entrepreneurship is a process that a group of individuals of someone act
independently, to make a new organization. And for the corporate
entrepreneurship, which is a type of entrepreneurial behaviour with established
organizations. This corporate entrepreneurship required a group of people to be
in progress of innovation activities in form of product, organizational
innovations and process.
There are three types of corporate entrepreneurship which is strategic
renewal innovation and corporate venturing. Strategic renewal is and entrepreneurial
efforts inside organization, the result of this is to have a big changes in the
business modal and the structure of the organizations. For example Nokia.
Everyone know that Nokia is a hand phone industry. But before that, he is a
industry in paper factory, rubber business, cable business and TV and radio.
Coming to year 1991, he make the world’s first GSM call.
External corporate is the creation of a new business. The output is the
fully autonomous units that operating other existing organization, or we can
call it joint ventures or spinoffs. The example of this type of
entrepreneurship is the airline IBERIA and VUELING. The last type of corporate
entrepreneurship is internal corporate. Internal corporate is the creation of
organizational entities operating inside existing organization or we can call
it a new department in the company, divisions and cross-functional terms. For
example, XEROX. XEROX was establish in China in 1980s. In 1989, the
administrative board gave away to an internal venture-capital group called
XEROX Technology Ventures. After that, XTV was terminated and replace by another
structure call XEROX NEW ENTERPRISE.
Corporate entrepreneurs same as independent entrepreneurs. Corporate
entrepreneurs need to find the entrepreneur encountering resistance and
obstacles, and the most important thing “innovative”. This corporate
entrepreneurship involve taking risk, passion with pragmatism, patient and
require some strategies to face the risk.
There are 4 barriers of corporate entrepreneur which is strategic,
system, political and behavioural. The strategic barriers mainly cause by
losing or unclear vision in the direction of the company should go and how to
develop in the future. Also the strategic barriers cause by missing the
strategy focusing on the entrepreneurial activity in the organization. Other factor
is the top management do not have the effective support to the employee and do
not have the innovation for the company.
Next, the second barrier is system barrier. Actually, the consequence of
formal managerial systems that we normally use in the company is using to
provide coordination and stability of the company. The examples of the system
barriers are the byrocratic routine
report, a document with 5 people to sign and the needed of the large
documentation. These are the things that should be remove from the system in
order to reduce the time wasting in the company.
Political barriers is the third barrier in corporate entrepreneurship.
The political barriers is normally caused by power relations and issues of control
and authority. For example, someone’s project do not support by managers
because to not lose their own influence. Also, they want to focus on the
reduction of the cost to save it for new projects. Departments want to remain
their own ways and traditional areas may also cause this problem.
Other than that, the behavioural barriers is an important factor.
Behavioural such as tendency to be consumed by present issues, the limit of the
own skills and time, lack of motivation and the perception of risk. This
behavioural barriers will block our way to move forward. This is why
behavioural is important and need to be face properly for everyone who want to
become more successful in the future.
In the talk, the one of the speaker, Mr.
Riki had talk about the there are some areas like engineering and accounting
have become more saturated than last time. Many student want to choose
engineering and accounting for their further study because you will be the top
of your field, ranking in millions and changing the landscape, and gaining a
lot of money. But, because of this reason, Malaysia has more and more these
type of graduated student from university in these few years. Most of the
students are not able to find the job that is related to the course they take
in the university. This is why he said that the areas in engineering and
accounting has become more saturated than last time.
Also, DATO’ DR. ASYRAF said that there is only less entrepreneur can
success in the future in Malaysia. The reason that most of the entrepreneurs
cannot success is because they are lack of patient. Patient is the one of the
most important characteristic that every entrepreneur must have it and also need
to practice. Why he say so? For example, when you start a business, everyone
hope that they will gain a lot of profits. It is true. But the profits would
not come to you so early. An entrepreneur need to give some effort and also
patient to their business they carry. Profit would not come in a month, half
year, but we will see it in the future. A person that want the fast profits in
the business is not possible in everyone even though Bill Gates. At first, Jeff Bezos is also a normal
retail entrepreneur, but with his effort and also patient, he become a CEO for
the Amazon and the richest man in American.
that, most of the entrepreneur do not have the attitude as an entrepreneur such
as hardworking. Entrepreneurs need a good deal of energy to see a
venture start and succeed. Entrepreneur is not just starting a business only,
there are still many things that they need to do with their hand. But some of
them may want to quick rich. They all want to do the least amount of work load
or better no work and earning as much money as possible. But unfortunately,
this type of laziness will bring the entrepreneur to an unachievable dream.
They would not become rich and the person they want to be. Hardworking is the
only way to success one day in the future.
Also, an entrepreneur
need to take the chance if they is a chance. In Malaysia, they are many
abandoned spaces around us. They have not use and just leave it there. Imagine
if we fully using these all areas to plant paddy and we sell it to other
country, it will be a great wealth for us. Such a free wealth everywhere in
these places but no one want to take it.
Discussions & Recommendations
The areas of engineering and
accounting is very saturated. So, entrepreneurship in agriculture become very
famous in these days. In Malaysia, there are not many people doing agriculture.
This business is very potential to develop it. This type of business also can
further develop to other country not only in Malaysia. In this world, there are
many country that the food they produce is not enough for their own country. We
can sell the agriculture product to other country to earn money from other
them. Also, for agriculture entrepreneur, it yield more profits. As a farmer,
they always looking for ways to break even and not willing to take a risk.
Agriculture entrepreneurs are the risk takers, so that they can get more profit
than the farmer.
Attitude of an entrepreneur is
very important, especially hardworking. Someone who are lazy never achieve
success in their whole life. Not just opening a business, an entrepreneur have
to become a disciple of business and a leader of the group of the business.
Hardworking enable the entrepreneur to learn and also practice how he or she
should develop his business. But it is not enough just hardworking. Hardworking
cannot come up with a good business idea. We cannot force ourselves to come up
with a good idea although we are spending enough time thinking about it. Most
of the idea are come from random and unpredictable strokes of inspiration that
we develop later on. Also, hardworking does not equate to productivity.
Hardworking is not means that is getting a lot of done. What they need is
teamwork. A successful entrepreneur is not depend on the efforts of one
individual, but the whole man behind him. Having a good team to get some god
strategy is much better than hearing your own ideas.
The graph of growth is never in
straight line, success is not over night. They are up and down in the venture.
Every entrepreneurial journal will have those ups and downs. Entrepreneur need
to be patient to wait for the right timing, never be hurry to win the world.
Entrepreneur need to spend a few years to stronger their foundation before they
achieve success. It should be about 10 years above to be really successful.
However, if you see that the business and the customer adoption is not that
good, or the business strategies is not likely to work, you need to give up and
be patient wait for the next good timing.
To foster corporate entrepreneurship in
organization, the company should create an environment of empowerment. We can
create the environment that people act like an entrepreneur by driving an
entrepreneurial culture inside the company. To act like an entrepreneurially,
we must have to feel empowered to lead the worker and also provide positive
charges to the employee. To create this empowerment environment, there are some
ways to do so. First, we must learn the strength of each other and then play to
them. Give the power to the people who are ready to show more responsibility.
Next, give the opportunities for the team to train and give education to help
them to grow more. The last thing is the most important which is reward those
who are tacking problem and advancing the company’s interest.
Other than that,
communication is important in the team. This is the most basic thing that a
leader should know. A well communication enable the team to get the clear order
and avoid misunderstand between the leader and the team so they can do a good
job. As a leader we need to always remind the team about the vision of the
company and also the direction. After that, we need to create an open
environment by sharing information, enable the flowing of the information and
also encourage the team to ask question if they are facing some problem to make
In conclusion, it is
getting more and more people to become agricultural entrepreneurship.
Agriculture entrepreneurship is one of the field that having a good future in
Malaysia because it is lack of this type of people in this field. Also, it is
very suitable to carry agriculture activities in this suitable places like
Malaysia. Not only to Malaysia, sell the product to other countries that the
food produce is not enough for the residents. Attitude of an entrepreneur is
very important, especially hardworking. Someone who are lazy never achieve
success in their whole life. But hardworking is not enough for a person who
want to success in their journey. The person need to be the good leader of the
team. To think about ideas for business and strategies, we need to combine all
people’s ideas so that we can make a conclusion that is refer to all those
ideas given by the group of people.