The efficiency and organizational cultures

RUNNING HEAD: ENTERPRENEURSHIP 0
ENTREPRENEURSHIP AND INNOVATION

ENTERPRENEURSHIP 1
Table of Contents
Introduction......................................................................................................................................2
Entrepreneurial mindset...................................................................................................................2
Key messages...............................................................................................................................2
Relevancy of entrepreneurial thinking in business......................................................................3
Transformative innovation...............................................................................................................3
Importance of Corporate Entrepreneurship.................................................................................3
Linking of corporate entrepreneurship and transformative innovation.......................................4
References........................................................................................................................................5

ENTERPRENEURSHIP 2
Introduction
Entrepreneurship and innovation plays a major role in all areas of business. Due to economic
growth, companies are identifying new opportunities and alternatives so that allocation of
resources is done in an efficient manner (Shepherd, Williams & Patzelt 2015). In this report, two
articles are reviewed which are based on the entrepreneurial mindset and transformative
innovation.
Entrepreneurial mindset
Key messages
The key message of the article is entrepreneurial thinking refers to the expert mindset of the
entrepreneurs, the article describes that thinking of the entrepreneurs is depend on the actions
and behaviors of the entrepreneurs (Spruijt 2017). The efficiency and organizational cultures
improve when the organization uses entrepreneurial thinking (Hnatek 2015). For example, Katie
Page which is the chief executive in Harvey Norman, is a well-known company in Australia
which involve in "drop shipping business of furniture”, “consumer electronics products” etc. In
the year 2016, the company earns $5.3 billion AUD revenue because of using entrepreneurial
thinking (Ahmad 2018). This is achieved by paying close attention to the organizational
environment as the result the motivation of the employees increased. Therefore the studies
described that the organizational environment is part of organizational culture (Spruijt 2017).
The main messages which are given by the article are entrepreneurship competence is considered
the procedure which bridges the gap among the education and works to that entrepreneur can
convert the thought into the opportunities as well as resources into the achievement and action.
This education is compulsory for entrepreneurs to gain a competitive advantage (Spruijt 2017).
Therefore, the article describes that there is various education that is provided to the
entrepreneurs for development such as experimentation, empathy, creativity, and innovation.
Researchers also increase entrepreneurial thinking because of various paradoxes such as
uncertainty, strategies, opportunities, risk-taking, decision making, knowledge, trust, etc. For
example, Emma Welsh is the successful entrepreneur and co-founder of Emma & Tom’s juices