Social Entrepreneurship – Meaning, Challenges and Success Factors

The rapid growth of the marketing is constantly changing our lives. As a result, entrepreneurs are played the importance role in a market as they are seen as agents of change. Which the change is economically based, the implications are far reaching, affecting other aspects of society such as social, cultural and political. That is why the entrepreneur is willing to take the responsibility and taking business risk to create and expand their business to order to explore more opportunities. Which the goods and services are fulfills customer’s demand and preferences.

Entrepreneurs seen to be the starters and them also assume the role of manager. Which entrepreneurs are observing the fourth factor of production (entrepreneur, land, labor and capital) and improve for the economic development. They were actively form to lead their own business and cultivate and offering new ideas for the economic growth and prosperity in individually. Moreover, entrepreneurs have a good in planning and manage strategically to make a decision and always strive for excellence in a business. Therefore, it can avoid the failure that may threat to an entrepreneur and the lack of continuity of the business and know how to developing the field of social entrepreneurship.

In the scenarios, among a social entrepreneur is motivated to improve and transform social, educational, environmental and economic conditions. Social entrepreneurs are for social improvement but not for the money. They are presents their ideas that are user-friendly and ethical that which applies innovative solutions to support in order to expand the large number of people to tackle their idea.… Read the rest

The Need for Corporate Entrepreneurship

Corporate entrepreneurship or Intrapreneurship is an important element in large and medium organizations. Intrapreneurship exists within the organizations. It plays important role in organizational and economic development. Intrapreneurship leads not only to new ventures, it leads to other innovative activities and orientations such as development of new products, technologies, services, strategies and competitive postures. In good or bad economic times, companies seek innovations to remain competitive. Intrapreneurs are more intelligent and have ability to perceive the big picture. They are self motivated, and optimistic. These people are action oriented and move quickly to get things done.

Corporate entrepreneur is a person who focuses on innovation and creativity to transform dreams into profitable reality. A charismatic leader in a company instills an entrepreneurial philosophy in the employees in an organisation. These entrepreneurs must have leadership characteristics. They must be visionary and flexible. Entrepreneur encourages team work and builds coalition of support. For team performance entrepreneur understand the organization environment they are persist continuously trying to give their best.

Now a day’s market is highly competitive, in order to survive organizations trying to be more innovative. Company’s wants innovative people to work for them. Intrapreneurial techniques have been used throughout the world, some with failure and some with great success.

Categories of Corporate Entrepreneurship

Current change in economy throughout the world pressurize to businesses and industries to change the strategies rapidly to satisfy the multiple stakeholders. Large organisations are focusing on innovation. The need of Intrapreneur arises due to numbers of problem. The number of competitors are increasing rapidly these competitors are very sophisticated, these competitors are not only their backyard but from other countries as well.… Read the rest

What is Intrapreneurship? – Definition, Meaning and Features

In 1992, The American Heritage Dictionary acknowledged the popular use of a new word, intrapreneur, to mean “A person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk-taking and innovation”. Intrapreneurship is now known as the practice of a corporate management style that integrates risk-taking and innovation approaches, as well as the reward and motivational techniques, that are more traditionally thought of as being the province of entrepreneurship. They are entrepreneurs who catch hold of a new idea for a product, service, or process and work to bring this idea to fruition within the framework of the organization. Intrapreneurs with their innovations and dedicated effort are perceived as a valuable asset by the organization, inspiring others. He serves as a champion to others in the organization. In recent times, a number of intrapreneurs are leaving their jobs to start their own ventures. It is found that many are exceedingly successful in their new ventures and they are causing threat to the companies they left a few years ago.

Intrapreneurs – Inside Entrepreneurs

Intrapreneurship refers to employee initiatives in organizations to undertake something new, without being asked to do so. Hence, the intrapreneur focuses on innovation and creativity, and transforms an idea into a profitable venture, while operating within the organizational environment. Thus, intrapreneurs are Inside entrepreneurs who follow the goal of the organization. Intrapreneurship is an example of motivation through job design, either formally or informally. Another important concept is the Corporate Social Entrepreneurship, which is the intrapreneurship within the firm which is driven to produce social capital in addition to economic capital.… Read the rest

Food Traceability – Definition, Meaning and Advantages

Food traceability and safety is an up and coming trend. With the slow food, organic, and natural movements more consumers are wanting to know where their food is coming from. Food producers also are making food traceability a trend because each producer wants to know who they can point fingers at when a customer claims that they have become sick from a producer’s food. For most producers, traceability is just one element of any supply-management or quality/safety control system. Tracking an apple from the tree to your mouth is something that each producer needs to know. They need to know where that apple was to make sure that the apple did not go anywhere it shouldn’t have been. So, what exactly is food traceability? How does it work, and what can it accomplish with regards to safety?

What is traceability and how does it pertain to our food system? The International Organization for Standardization (ISO) defines traceability as the ability to trace the history, application, or location of that which is under consideration. For this paper, that which is under consideration will be food. The ISO uses a very broad definition for traceability which is necessary for several reasons. First, because food is a complex system and traceability has not been developed for every product. Second, because no traceability system is ever complete. Things change, the purveyor changes, the field changes, the picker changes so each company’s food traceability plan must be fluid. For instance, even a hypothetical system for tracking beef-in which consumers scan their packet of beef at the checkout counter and access the animal’s date and location of birth, lineage, vaccination records, and use of mammalian protein supplements-is incomplete.… Read the rest

Benefits of Corporate Retreats in Organizations

Corporate retreats can be of any type, such as a sport retreat, or a seminar-style retreat. They are to promote a feeling of teamwork and to build a better understanding among company employees. Corporate retreats can also help employees gain some problem-solving skills that lead to better teamwork and better overall productivity. These team-building activities focus on events where everyone has to work together to reach a common goal. The examples are river rafting, rock climbing, mountain climbing, everyone hiking blindfolded while holding on the same rope, team scavenger hunts, friendly competitions between company departments, etc. Corporate retreats can be customized to fit the company’s need. They can make the employees learn about what the temporary retreat goals are, as well as the long-term results that the company is striving for.

Why corporate retreats can increase productivity? This is because organizations can derive some valuable skills from corporate retreats. These skills include team spirit, problem-solving, leadership, innovation and creativity.

  1. Team Spirit: Corporate retreats promote a feeling of teamwork among company employees. For example, a company organized a corporate retreat where the employees had to build a bridge out of boxes and unstable wooden planks. The employees are working towards a common goal which is building a bridge. This will get them to see the power of acting like a team. They will be able to understand success in each activity depends more on teamwork than individual effort. Under the pressure of reaching a difficult goal, each individual undergoes rapid growth. This growth occurs in group efforts then enhancing the relationships between employees.
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About United Nations Global Compact (UNGC) – 10 Principles of UNGC

The United Nations Global Compact (UNGC) is a tactical strategy scheme for companies who commit to align their operational strategies to the principles outlined by the UNGC whose main purpose for existence is to assist businesses in managing risks and opportunities presented to them in certain areas such as the environment, society and authorities like government divisions and laws. This initiative also aims to integrate their ten principles as universal to businesses and societies for mutual benefits. It is independent of the government which entails that their rules and regulations is not government mandated law though it does support and is in-line with certain government policies that mainly focuses on the social responsibilities of a corporation.

Commerce, as the main factor influencing globalization, plays a major role in societies and economies anywhere in the world. UNGC requires participating businesses to submit a Communication in Progress (COP) report once a year, which is deemed by the initiative as essential to demonstrate the commitment of their participants to them and to their principles. The COP includes policies which entails being transparent and accountable. By participating to UNGC, companies are then required to follow the same policies of transparency and accountability which is very important in ensuring the success of the initiative. By failing to communicate with UNGC, companies might lose their current status as participants, or worse, the initiative can expel them.

The United Nations Global Compact (UNGC) is the planet’s greatest corporate citizenship conglomeration. The corporate world can be viewed as the guiding hand of globalization and in this manner; it can accommodate the gigantic challenges which influence the incorporation of common wars, ruination and short states.… Read the rest