Does the Potential Entrepreneur Need to Think Procedurally?

Does the Potential Entrepreneur Need to Think Procedurally?

Žaneta Rylková (School of Business Administration in Karvina, Silesian University in Opava, Czech Republic)
DOI: 10.4018/978-1-7998-2714-6.ch005

Abstract

This chapter deals with factors that may affect process thinking. The author introduces chosen factors as prerequisites to think procedurally, such as the business economics knowledge, the desire for freedom and success, investment spending, and organizational skills. An analysis of these factors shows the influence on process thinking. The chapter deals with primary data collection from a recent survey conducted in the Czech Republic and a comparison with secondary resources focused on aspects, which may influence the process thinking. The results from the primary and secondary research indicated relationships between above mentioned factors and their effects on process thinking. The chapter subsequently discusses limitations and future research directions in light of findings in this research.
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Background

Zhang, Hu, and Kang (2018) determined that process management affects firm performance directly and positively. However, leadership and customer orientation indirectly influence a firm through the role of process management. According to them, firm performance depends directly on process management, which can promote leadership and customer orientation. The findings of Nurbanum, Ahmad, Nasurdin, and Wp (2013) provide insight to managers that business environment, organization strategy, process management and business model are closely linked.

Key Terms in this Chapter

Venture value co-creation: Management system that focuses on involving employees improving efficiency and utilization of resources and processes.

Process Management: A concept focused on analysis, evaluation, monitoring and controlling of business processes such as for example supply process, production process and sales process. The concept is a prerequisite to improve and accomplish a business performance.

Business performance: An effective management of financial and non-financial objectives and measures in order to venture growth.

Process thinking: A way of interpreting events in terms of processes a procedure resolving problems via communication including creativity, active listening, with concerning movements and with searching for changes leading to success.

Investment spending: Money spent on purchase of fixed assets and current assets but not spent on financial instruments such as for example stocks.

Information Processing Capacity: Data that an enterprise can utilize via an information system enabling to remain competitive, to analyze environment both external and internal and to realize business objectives.

Decision Making: A skill when a manager is able to choose an appropriate variant to solve a problem in a business.

Cognitive Process: Internal processes and structures involved in learning about the internal and external environment and choosing the appropriate action leading to success.

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