Entrepreneurship Innovation in BMW

Running head: ENTREPRENEURSHIP INNOVATION IN BMW
ENTREPRENEURSHIP INNOVATION IN BMW
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Executive Summary
The purpose of the assignment is to assessing corporate entrepreneurial health and in order to so
the organisation that has been selected is BMW Group. The German multinational company has
over the years established itself as one of the pioneers in mobility services providing the people
with innovative options in the automobile and motorcycle industry. The company has been one
of the leaders of the market until recently overtaken by a direct competitor. However, the
company has been incorporating new and innovative ways to capture the market. The current
CEO of the company is Harald Krüger and his strategies and efforts have been assessed. It has
been observed from the research that BMW Group has high degree of entrepreneurial intensity
and supportive Corporate Entrepreneurship Climate.
It is observed form the analysis that the company has been going through a period where the
company is not at the top of the industry. The strategic decisions that are now being implemented
by the higher management are thus in sync with improving the competitive advantage of the
company. Innovation has been a part of the business model and thus the company invests a
significant amount of the resource in research, research also indicates market research as BMW
is a company which is customer oriented. This approach of the organisation has led the company
in developing the services in such a way that the customers have the facility to customise the car
accordingly.
Entrepreneurial intensity of BMW Group and Corporate Entrepreneurship Climate are the two
theories that are explored in the assignment. It has been observed that the company has high
degree of inclination towards both the factors which makes innovation an evident and extensive
part of the organisation. As an entrepreneur the CEO of the company focuses on the requirement
trend of the industry for example: electric car introduced by Tesla, which is a direct competition
to the company.
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Table of Contents
1. Introduction..............................................................................................................................3
About the company......................................................................................................................3
Mission Statement:......................................................................................................................3
Vision...........................................................................................................................................3
2. Theoretical Concepts...................................................................................................................4
3. Research Approach......................................................................................................................5
4. Data Analysis and Discussion.....................................................................................................5
Part A: The entrepreneurial intensity of BMW Group................................................................5
Part B: The Corporate Entrepreneurship Climate (CEC) of BMW.............................................8
5. Conclusion.................................................................................................................................10
6. Reference...................................................................................................................................11
7. Appendix....................................................................................................................................13
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1. Introduction
An Entrepreneur is a person with a vision for a venture (Hitt & Duane, 2017). He or she
is an individual who strategically devices decisions to establish as well as take a business idea
forward. Martin et al. (2013), state that there are several general characteristics of a successful
entrepreneur such as: passionate about the idea, self motivated, hard-working and disciplined,
risk taker etc. According to Kirzner (2015), an entrepreneur is responsible for any kind of
liability that is associated with the business venture. In this assignment two concepts of
entrepreneurship will be discussed entrepreneurial intensity and Corporate Entrepreneurship
Climate for BMW Group.
About the company
The Bayerische Motorenwerke or the BMW is a German automobile and motorcycle
manufacturer. The company was formed by the amalgamation of 3 companies established in
1916. The company used to make aircrafts and aircraft parts. It is one of the major automobile
manufacturers in the world. The company headed by Harald Krüger focuses on the sustainable
development in the fields of automobiles (Bmwgroup.com, 2018). The philosophy of the
company is to develop a future for the mobility industry and ensure to leave a bright future for
the coming generations. The company focus on the road safety and efficiency along with the best
in class designing while providing luxury to its consumers. There are 30 production areas located
in 14 countries.
Mission Statement:
The prime mission of the company is to become the leading car manufacturer of the
world by 2020 (Bmwgroup.com, 2018).
The mission statement of the company focuses in the development of the company in the
light of the global market development. BMW focuses on becoming the global leaders of the
automobile manufacturing focussing on providing the best in class and technology and luxury to
its consumers.
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