Corporate Entrepreneurship: How to Create a Thriving Entrepreneurial Spirit Throughout Your Company

Characteristics of an Effective Control System

While there is a need for some form of control of corporate entrepreneurial activities, the extent and type of control varies. It is important that the controls are different for each task and perhaps each function. Effective controls of corporate entrepreneurship have the following characteristics:

 

• Link to strategy. Controls should reflect where the organization is going in the short and long run.

• Utilize all the control steps. The control steps consist of setting realistic standards of performance, gathering information about actual performance, comparing standards to the actual performance, and taking corrective action where deviations exist.

• Accepted by employees. The more committed and ...