This article discusses the role of corporate entrepreneurs and intrapreneurs in the economy, the impact, structure, and culture of entrepreneurial organizations, and the evaluation of personal skills and attributes for a job at Arcadia Group. It also provides insights into the business activities and culture of Arcadia Group.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Getting a job and what employers want from you?
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Table of Contents Introduction......................................................................................................................................3 Role of corporate entrepreneurs and intrapreneurs In the economy................................................3 Entrepreneurial organisation in terms of impact, structure and culture...........................................5 Considering Arcadia Group as entrepreneurial...............................................................................7 Evaluation of personal skills, attributes and behaviours and their benefit to Arcadia Group.........9 Conclusion.....................................................................................................................................10 References......................................................................................................................................11
INTRODUCTION Corporate entrepreneurship is a procedure used to establish new business, processes, products and services inside of an organization to form value and produce new revenue growth by entrepreneurialactions.Itcanbesaidthatmerelyinnovationprocessisnotsufficient; organizations are required to establish a structure to promote innovation and business growth and the key to this corporate entrepreneurship.The present study aims to critically evaluate the role of corporate entrepreneurs and intrapreneurs in the economy while explaining entrepreneurial organisation is in terms of impact, structure and culture.Along with this, the study covers the consideration of entrepreneurial activities and aspects of Arcadia Group and evaluating their own skills and attribute whether they complement and benefit the job requirements of that chosen company. ROLE OF CORPORATE ENTREPRENEURS AND INTRAPRENEURS IN THE ECONOMY In the economic market, the major place is held up by entrepreneurs. They are the major force of the organization they carry all their economic activities such as activating, stimulating, training and motivating. The global success of nations is completely achieved by supporting and rewarding entrepreneurs (Rahdari, Sepasi, and Moradi, 2016.).In contrast, intrapreneurship is the procedure which includes traits of entrepreneurial that are used by their entrepreneurs and companies for work (Ng, 2016). The contribution of the intrapreneurs within the company is great as they are competent business persons. Intrapreneurs are liable to inform about the
inspirational, creativity, ideas, leading and motivation to its associates around (Dentchev et al. 2016). Together with entrepreneurs, intrapreneurs work more effectively which assist in increasing the productivity of the company. The major dissimilarity among interpreneur and entrepreneur is the major focus of the intrapreneur is on the performance of the company, on the other hand, entrepreneur; completely concentrated on the idea and overall objectives of the company (slow, 2017).Proceedingsoftheentrepreneurdeterminethegrowthdevelopment,prosperity opportunity and the success of the economy. Dynamic Activities of the entrepreneurs are based on the level of their encouragement and rewards. Globally the liveliest cultures are in the firms that have most of the entrepreneur as well as an appropriate legal and economic framework to motivate and endorse the greater activates of the entrepreneur (Smith, Rees, and Murray, 2016). Intrapreneur and entrepreneur search for the disequilibrium; however, there is a difference between the need and wants of the consumers as well as the services and products that are presentlyobtainablebythem.Further,theentrepreneurcomesupwiththeelementsof manufacturing which are essential to create, present and sell preferred services and products (Adachi, and Hisada, 2017). Presently entrepreneurs are growing more and more in comparison with other business persons. Moreover, there is a huge competition for the customers because of the desire to receive the best quality of products by the companies for surviving well. In addition, it can generate a price war, for example, continuing war among the Xbox One and PlayStation 4 as it is confirmed that only strong one can survive in the economic market.Delivering back to the society is the commendable imitative that can be taken by the entrepreneur as it makes them different, in
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
comparison to competitors apart from profitability that is also focus towards the Corporate Social Responsibility. TOMS is the best example likefor every pair of shoes; the footwear corporation put up for sale; itdonates a pairto a kid in a poor area.Nowadays intrapreneurs are also able to connect CSR with business strategies. For example, GE’s corporate office attains an energy savings of 57 per centonly by eradicating all fluorescent bulbs in its head office and replacing them with the types of energy-efficient ones (Chan et al. 2017). ENTREPRENEURIALORGANISATIONINTERMSOFIMPACT, STRUCTURE AND CULTURE Entrepreneurial organizations refer to organizations that assist innovation and opportunities in order to generate social and economic values. Generally, entrepreneurial organizations tend to reimburse service on the basis of performance and give more consideration to group rewarding. On the other hand, an organization with administrative culture mainly gives emphasis on maximizing the value and tends to secured status quo in their results. Further, the arrangement of reward-based methods and variable compensation based on the outcome has a major impact on the performance of the organization (De Jong et al. 2015). Entrepreneurialorganizationstructureissimple;itconsistedoffewerformalities,low complexity, loose hierarchy, low attentiveness and professionalism. All characteristics assist that structure of the entrepreneurial organization is organic. Further, it is featured by minimum hierarchy, flexibility, minimum rules and regulations with pressure on increasing the horizon. Generally, the stages of an entrepreneurial organization consist of growth, safety, atrophy, crisis, and at last either destruction or renovation.
Since the significant economic pressure is faced by organizations, therefore leader required to build a working environment in such a manner that assists in providing the supportand motivation to entrepreneurial behaviour. It leads towards the encouragement to employees to engage in organizational innovation and progress. Moreover, it is essential for the leader of an organization to understand when to implement a directive leadership style and when to give power to the workforce. As excessive directive and controlling leadership style mitigates creativity (Covin, and Slevin, 2015). The culture of entrepreneurial organizations has directly moderated the connection between the personality of individual and innovation of result. Further, the culture of an entrepreneurial organization is characterized by elasticity, entrepreneurship, alteration and innovation, risk captivating, foresight, group work, organizational learning, morality and mutual trust, amusing andpleasantenvironment,alongwithanticipation,andexcitement,competitiveness,and customer-orientedsupport.Inaddition,thecultureofassistance,originality,liberation, obligation, and risk-taking are among the characteristics of entrepreneurial organizational culture (Johannisson, 2017). A modern movement in a change in societies, latest innovation and technology leads towards the corporate responsibility, existence, performance and value to meet up with the new requirement. In order to reach their mission and objective, it is required by the organizations to be innovative andproactive.Inotherwords,itcanbesaidthatitrequirespracticeorganizational entrepreneurship. In addition, it can be said that growing new competitors, a sense of disbelief in traditional management services in organizations, parting experts and skilled people following their career as an individual entrepreneur can encourage organization entrepreneurship. Further, entrepreneurship can take place in products or services, or process. Therefore, in order to cope up
with the environmental challenge the organization should take proper action, which requires entrepreneur and entrepreneurship (Rigolizzo and Amabile, 2015). CONSIDERING ARCADIA GROUP AS ENTREPRENEURIAL Business activities The business activities of Arcadia Group involves selling fashion and styling products, it is one of the biggest privately owned fashion retailer in the UK with 8 main brands namely; MISS SELFRIDGE, BURTON, TOPSHOP, DOROTHY PERKINS, EVANS, WALLIS TOPMANAND OUTFIT(Arcadia, 2019). There is a unique organizational culture at Arcadia Group, wherein there is passion, fun, and friendliness, of one mind people. A pleasant mix of thinking styles, integrated by a love of fashion is the culture of the organization. The culture of an organization is fun-loving, risk-taking creative and innovativewherein all employees are valued and cherished to build positive relationships. The culture there encourages employees to share and come up with new ideas and inventions so that they can take the best out of them (Arcadia, 2019). Fresh perspectives provide Group with the competitive edge, herein innovation and creativity are valued, and ideas are shared in a participating and compelling way. Innovation and creativity are the key fabrics of the business, and they are hunting for talented individuals to assist them in pushing fashion forward(Ali and Akter, 2018).Their people styles, dedication and ideas add a speciality in the lives at Arcadia, the secret to their success lies in their behaviour and are supported by five key leadership expectations namely; Resilience, Commercial Flair, Developing the Best, Future Focus and Driving Results.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
The vision of Fashion Footprint offers a mission statement that all the employees of Arcadia Group can get behind of generating fashionable products ethically and demonstrating responsible conduct towards the environment as well as individuals.The organization shares value in building a positive relationship and believing that best work occurs from the place of great debates and challenges (Retail Choice, 2019). By building honesty, courage, tenacity, trust and openness they succeed. Arcadia Group is based on the key values to guide their work as well as the relationship with customers. Their core values include authenticity,client focus,creativity, excellence, growth, integrity,relationship,service and sustainability. With their fashion edge, innovative, fashionable and creative sense, Arcadia Groupgenerates an estimated $124.5 million in revenueannually. The Group emphasized on a project to make replacement of their fifteen-year-old ePOS systems. PMC, their project has been employed for the management of the operation of the new system to each and every 1600 of their stores nationally. With PMC comprehensive technical and planning empathy and retail knowledge, Group retained the required quality assurance for the deployment of the new system throughout their store portfolio (Arcadia, 2019). Further, the extent of the project successfully rolled out the new system, by attaining a peak of 80 stores per week, and deploys more than 4000 tills. EVALUATIONOFPERSONALSKILLS,ATTRIBUTESAND BEHAVIOURS AND THEIR BENEFIT TO ARCADIA GROUP I want to work as a mechanical engineer at Arcadia Group, as it is my dream jobto do an engineering job for a reputed multinational company. I have interest area in this field, as I am always involve in leadership, problem-solving and communication activities. In addition to this, I
acknowledged that better opportunities are available for mechanical engineering students at this company as they provide opportunity to qualified mechanical nerds that can assist them in operation. Further, I believe that I have immense scope in the same field and I can benefit the business by my soft skills, interpersonal skills, technical skills etc. Mechanical engineers particularly need to hold a degree in a specified field(Kirn and Benson, 2018). The concerned company provides priority to those Mechanical engineers who are great problem-solvers, creative,communicative and possess effective technical skills, interpersonal skills and team working skills. It is also essential that they possess commercial awarenessfor the products of clothes and other fashionable items(Nee, 2015). The cited company requires a mechanical engineer to assess project requirements, measure the performance of mechanical elements, use computer-aided design software, undertake relevant research, generate and incorporate designs and present them to clients, offer technical advice, analyze and interpret data.Arcadia Group is searching for a creative mechanical engineer who can work on all stages of a product from R&D to manufacturing and designing, through to install and commission (Arcadia, 2019). The aim is to develop and engineer mechanical elements of brillianceandinnovation.Thecompanydemandsprovenworkexperienceintermsof mechanical engineering, creative and analytical skills, a better understanding of key concepts related to mechanics from the candidate. The company is searching for a candidate who is familiar with engineering design as well as manufacturing tools and has sufficient knowledge regardingengineering analysis tool. In accordance with the job requirement, I can say that these requirements match with my capabilities and I can benefit the business with my listening, math, mechanical and problem-
solving skills. Additionally, I am capable of analyzing mechanical devices effectively, create a new concept, conduct tests to trace results and oversee engineering tests on projects. I have the capability to make use of distinct engineering software’s plus I am good at master atresearching, devising, developing and fabricating useful mechanical devices, components and products. My skills and abilities perfectly complements the job outline of the Group. Thus, I can state that my job profile is ideal as a mechanical engineer for the Arcadia Group. CONCLUSION On the basis of the above analysis it can be stated that by making an investment in the improvementofcapacitiesofentrepreneurialandintrapreneurshipentrepreneurship,the company can retain talents, while can make optimum use of available resources and develops the maintenanceof intellectualcapital.Thus, it canbe statedthatArcadiaGroup isatrue entrepreneurial firm, which reflects innovation, risk-taking, creativity and uniqueness at their work, supported by their mission, vision and values.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
REFERENCES Books and Journals Adachi, T. and Hisada, T., 2017. Gender differences in entrepreneurship and intrapreneurship: an empirical analysis.Small Business Economics,48(3), pp.447-486. Ali, M.J. and Akter, S., 2018. Human Resource Management (HRM) Practices: A Case Study on Arcadia Group, UK.Global Journal of Management And Business Research. Chan, K.Y., Ho, M.H.R., Kennedy, J.C., Uy, M.A., Kang, B.N., Chernyshenko, O.S. and Yu, K.Y.T., 2017. Who wants to be an intrapreneur? Relations between employees’ entrepreneurial, professional,andleadershipcareermotivationsandintrapreneurialmotivationin organizations.Frontiers in psychology,8, p.2041. Covin,J.G.andSlevin,D.P.,2015.Leadership,Entrepreneurial.WileyEncyclopediaof Management, pp.1-4. De Jong, J.P., Parker, S.K., Wennekers, S. and Wu, C.H., 2015. Entrepreneurial behaviour in organizations: does job design matter?.Entrepreneurship Theory and Practice,39(4), pp.981- 995. Dentchev, N., Baumgartner, R., Dieleman, H., Jóhannsdóttir, L., Jonker, J., Nyberg, T., Rauter, R., Rosano, M., Snihur, Y., Tang, X. and van Hoof, B., 2016. Embracing the variety of sustainable business models: social entrepreneurship, corporate intrapreneurship, creativity, innovation, and other approaches to sustainability challenges.Journal of Cleaner Production.
Johannisson, B., 2017. Networking and entrepreneurial growth.The Blackwell handbook of entrepreneurship, pp.368-386. Kirn, A. and Benson, L., 2018. Engineering students' perceptions of problem-solving and their future.Journal of engineering education,107(1), pp.87-112. Nee, A.Y.C., 2015.Handbook of manufacturing engineering and technology. Springer. Ng, L.H., 2016.6 Corporate Entrepreneurship.Enterprise: Concepts and Issues. Rahdari, A., Sepasi, S. and Moradi, M., 2016.Achieving sustainability through Schumpeterian social entrepreneurship: The role of social enterprises.Journal of Cleaner Production,137, pp.347-360. Rigolizzo, M. and Amabile, T., 2015. Entrepreneurial creativity: The role of learning processes andworkenvironmentsupports.TheOxfordhandbookofcreativity,innovation,and entrepreneurship, pp.61-78. slu, T., 2017. Agile intrapreneurship in a volatile business environment: changing roles of financial managers and risk takers according to Schumpeterian approach. InRisk Management, Strategic Thinking and Leadership in the Financial Services Industry(pp. 323-343).Springer, Cham. Smith, L., Rees, P. and Murray, N., 2016. Turning entrepreneurs into intrapreneurs: Thomas Cook, a case-study.Tourism Management,56, pp.191-204. Online
Arcadia,2019.#arcadiacareers(Online).Availablefrom< https://www.arcadiagroup.co.uk/careers>.[Accessed on 23 April 2019]. Arcadia, 2019. (Online). Available from <https://www.arcadiagroup.co.uk/>.[Accessed on 23 April 2019]. Arcadia, 2019. Arcadia Select PMC to Manage Largest EPOS Rollout (Online). Available from <https://www.pmcretail.com/case-studies/arcadia>.[Accessed on 23 April 2019]. Arcadia, 2019. how we work (Online). Available from <https://www.arcadiagroup.co.uk/about- arcadia/how-we-work>.[Accessed on 23 April 2019]. RetailChoice,2019.ArcadiaProfile(Online).Availablefrom< https://www.retailchoice.com/jobs-at/arcadia/profile>.[Accessed on 23 April 2019].