Corporate Entrepreneurship as a Tool for Organizational Improvement: The Case of Auto Parts Sector in Colombia

Corporate Entrepreneurship as a Tool for Organizational Improvement: The Case of Auto Parts Sector in Colombia

Ricardo Prada-Ospina (EAN University, Colombia)
DOI: 10.4018/978-1-5225-3543-0.ch015

Abstract

Auto parts companies are an integral part of the automobile sector, which constitutes an important economic item within the metalworking industry. Its goal is to carry out productive work by integrating the largest possible number of automotive parts and national added value pieces. Corporate entrepreneurship, studied at both the academic and business levels, tries to generate new business schemes or the creation of new companies from the efficient use of available resources and the recognition of opportunities for the improvement and innovation of companies. This chapter shows how corporate entrepreneurship should be a key tool in auto parts organizational improvement. In order to deepen the understanding of the relationship between corporate entrepreneurship and auto parts companies, the study is complemented by the results obtained in the report of the Global Entrepreneurship Monitor (GEM) of Colombia.
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2. Background

The XXI century has been characterized by globalization and permanent change. This change requires any organization to advance preparation to meet the challenges it brings to operate in a global market in a time of constant change (Garzón, 2008). These complex challenges facing organizations today are seen by some workers with active response, which requires the collection of market signals in which they operate. These workers, by adapting to changes, drive and manage initiatives within the company, becoming leaders who provide a mutual benefit to the organization and themselves (Khandwalla, 1977). Thus, they become real and true entrepreneurs. But any form of entrepreneurship also implies a change, and necessarily, an innovation, which is a must in any business today, however, is not enough identify those workers who, as entrepreneurs within organizations, include and impact through creative generation projects.

The main problem lies in the lack of support and insufficient freedom that are restricted in the environment. Enterprises require leaders who create this and are willing to plunge all the difficulties that this challenge will bring.

Key Terms in this Chapter

Organizations: The structures and mechanics present in a society that regulate the conduct of individuals, promoting or discouraging certain behaviours.

Entrepreneurship: A business venture launched by one or various individuals who identify market opportunities and are willing to assume economic risks so as to achieve profitability and consolidation over time.

Human Capital: A productive resource that brings together the training, abilities, and skills of individuals who take part in production processes and that are related to work productivity. It depends on factors such as education and experience.

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