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Managing entrepreneurial organization - Coggle Diagram
Managing entrepreneurial organization
Management
Key operating activities
– key things that need to get done
Critical success factors (CSFs)
– key operating activities upon which the success of the project or venture critically depends - the few key things that must go right
Key performance indictors (KPIs)
– criteria that measure successful achievement of CSFs
Discouraging entrepreneurship
Focus on efficiency or return on investment
Plan for the long-term & then control against plan
Enforce standard procedures, rules & regulations
Avoid risk
Make decisions based on past experience
Manage functionally with rigid job descriptions
Promote individuals who conform
Barriers to entrepreneurial architecture
Systems
Structures
Strategic direction
Organisational architecture
Policies & procedures
People
Culture
Change curve
Implementing change
People-orientated actions
Create sense of urgency
Brief staff on effects of changes
Training & counselling
Break changes into small parts
Empower staff to make changes
Demonstrate commitment
Political & Organizational actions
Remove blockers
Put in change agents
Build political support
Use implementation task force
Make symbolic changes
Demonstrate success quickly
Change structures
Monitor & embed change
Alternatives to compulsory liquidation
Pre-packaged sale (pre-pack)
Sells off profitable part of the business
Company voluntary arrangement (CVA)
Company continues & creditors agree longer payment terms
Administration
Limited time protect by court as company is restructured
Creditors’ voluntary liquidation (CVL)
Sells off assets to pay creditors
Sustainable entrepreneurship
Reduce costs & increase profit
Present opportunities for innovation
Enhance brand attractiveness
Improve employee motivation & recruitment
Good for the planet
