Corporate Entrepenuership
Corporate Entrepenuership
Corporate entrepreneurship is a complex way of conducting business practices and it is not made for every company. In my opinion corporate entrepreneurship is the concept of a company continually acquiring and removing different businesses to the company that is already in existence. The many different acquisitions do not have to be in the same market, but in some way relate to one another. Corporate entrepreneurship also encourages workers to think on their own and as effective and efficiently as possible. Corporate entrepreneurship also means that not only is the company continually growing, but the companies that it is acquiring are also growing and show positive output in the future. This concept is not concerned with the short-run look at things, but rather what will happen in the future and the possibilities that new companies can add to the previous one in existence. Although this concept is not made for all companies Koch Genesis is the epitome of corporate entrepreneurship conducted at its best.
Koch Genesis takes many actions to make sure that corporate entrepreneurship is well established throughout the company culture. Koch encourages their employees to challenge themselves everyday to find new and innovative ways to improve the company. Koch is constantly re-evaluating decisions and company policies; making sure that every action they are making is for the best of the company. The company also makes it very clear that they are only concerned with the long run and growing as a company. This is buy their policy that 90% of the profits are reinvested and they have no concern about concerns voiced by outside sources. Koch remains a privately owned company so it can continue its corporate entrepreneurship culture and make rapid and effective decisions on upcoming buy-outs and company decisions. Koch also establishes their company wide cultures and policies so that every employee is well aware of them and they coincide with each other. All of these policies are well implemented and by sticking to the goals and mission statement Koch is very effective in implementing corporate entrepreneurship.
Koch will be more successful in corporate entrepreneurship than a publicly owned company because they will make decisions based on the company policy and not based on a third party. Since Koch is privately owned decisions can be made