Entrepreneurship and Innovation Management - Motivation Strategies for Top Management Teams - Literature review Example

The governance board at Sainsbury's meets annually, consulting with a variety of internal teams that have been assigned specific tasks related to strategic direction.... ainsbury's should be considered to be a success story in corporate entrepreneurship, defined as: 'a process that goes on inside an existing firm leading to new business ventures, the development of new products, services or processes and the renewal of strategies and competitive postures.... CE should be seen as the sum of a company's innovation, venturing and renewal efforts' (Faems, Van Looy and Debackere 2005, p....

The authoritarian organization has a stultifying effect on the processes of initiative and innovation, which are key to organizational survival in a highly competitive world.... uring the 1990's, however, the top-down authoritarian management style began yielding to a networking style of management.... In the new style of management, people learn from one another peer to peer, everyone is a resource for everyone else, and each person gets support and assistance from many different directions....

While both entrepreneurship and leadership have certain traits in common, not all of the leadership traits are necessary in an entrepreneur.... Leaders create and deal with change; leadership requires vision, direction, strategies, motivation, and inspiring.... Entrepreneurship has also been defined as 'the process whereby individuals become aware of business ownership as an option or viable alternative, develop ideas for business, learn the process of becoming an entrepreneur and undertake the initiation and development of a business' It has also been defined as 'a multidimensional concept encompassing the firm's actions relating to product-market and technological innovation, risk-taking and proactiveness' (Kellermans & Eddleston, 2006)....

This paper ''Entrepreneurial management and Leadership'' tells us that during the 1970s, Sony's most important market, maintained negative perception regarding the quality of Japanese-made products.... Therefore, internal management recognition of the need to be more entrepreneurial would seem to illustrate that CE behaviors least between 2010 and 2012, significantly lacking.... As a result of having a quality focus for manufacturing output and using innovation in the marketing function, Sony products were in high demand in its most prominent markets and were able to generate considerable profitability through above-market pricing structures that consumers accepted in exchange for superior electronics product quality....

t is important to realize that the success of a business depends on a multiplicity of factors, besides human resource management, technology and innovations (Kleinman 2009, 13).... Human resource management is critical in the success of businesses since, it empowers human capital in the business to develop policies and strategies to increase the business' competitive advantage and market position.... uman resource management involves the processes concerned with recruitment, hiring and development of business employees to make it...

n the beginning, the company pursued a policy where the top management informally encouraged innovation but during later years the company formalized its innovation policy.... The reason behind this success in innovation is its effective knowledge management system (Cavusgil, Calantone, and Zhao, 2003).... The paper "3M Company - innovation and Entrepreneurship Specialism" highlights that 3M Company deals with many challenges.... The greatest challenge is to keep up its reputation of innovation....

Rationalizing entrepreneurship's impact on the company and how to harness and encourage entrepreneurship on a continuing basis, this paper will provide strategies to this effect.... This paper shall propose strategies on how to reign in the creativity and direct them to directions that are juxtaposed to the company's goal.... This paper, in essence, will show how corporate entrepreneurship as a strategy will capitalize on the untapped natural innovation and creativity of its employees as they perform their daily functions....

Dean and Mary Tjosvold (1995) in their book, Psychology for Leaders: Using Motivation, Conflict, and Power to Manage More Effectively, say that 'top management sets policies; managers make decisions and solve problems; and employees do their assigned tasks'.... The author of the paper "Corporate Entrepreneurship as a Strategic Approach" will address the relationship between knowledge management and human resource management in an attempt to support a company's objective to be corporate entrepreneurship....