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

Control Philosophy of Corporate Entrepreneurship

The elements of a management control system need to be linked to an organization’s philosophy of corporate entrepreneurship. The elements of a corporate entrepreneurship philosophy include:

 

• Broadly defined with effective control elements

• Ability of management to give up control through delegation and employee trust

• Empowerment and autonomy built into the job

• Understand the relationship between empowerment and control

• Promote and reward entrepreneurial behavior

• Open communication and dissemination of information

• Trust and respect at all levels

• Encourage, motivate, and reward innovation and creativity

Many centralized organizations have such advanced and formalized control systems ...