Business Orientation through an Entrepreneurial Culture (Essay Sample)

Business Orientation through an Entrepreneurial Culture Author name Institutional affiliation Course number and name Instructor name Assignment due date Business Orientation through an Entrepreneurial Culture Increased competition in business has prompted managers and entrepreneurs to look for creative and sustainable strategies for sustaining their organizations. Experienced entrepreneurs use long-term entrepreneurial cultures to meet customers' demands, increase financial stability, and boost competitiveness. According to Lahikainen et al. (2022), an entrepreneurial culture refers to a set of practices, assumptions, and values promoting entrepreneurship in a business. With a suitable organizational culture, managers will coordinate and encourage employees to introduce new strategies, methods, and ideas to meet customers' needs and strengthen competitiveness. Entrepreneurial organizations seek opportunities for innovation to simulate innovative behaviors, encourage risk-taking, promote experimentation, and stimulate creativity. In their study of the relationship between creativity and entrepreneurial culture, Danish et al. (2019) collected data using 300 self-administered questionnaires in the capital city of Punjab Province, India. The investigators used innovative culture to examine entrepreneurial culture because of its prognosticator factors. The researchers found that self-efficacy and openness to change had a direct and significant relationship with on organizational culture (Danish et al., 2019). The findings indicate the need to encourage self-efficacy when building and promoting an organizational culture in business. Furthermore, the findings signal the importance of stimulating innovative cultures through supportive behaviors such as setting high goals, building trust, and creating visions for colleagues. For new managers, stimulating innovative behaviors in the business begins with broadening organizational networks and encouraging collaboration among employees. Another reason for seeking innovation in entrepreneurial organizations is to encourage risk-taking actions and performances. Risk-taking is an essential concept when finding new ways to meet customers' demands and expectations. As Daraojimba et al. (2023) elucidate, risks sustained through innovation promote goal achievement and contribute to significant changes. Additionally, organizations that innovate and take risks are usually more adaptable and agile (Daraojimba et al., 2023). Nonetheless, risk-taking threatens an organization’s liquidity, success, and future sustainability. If entrepreneurs make wrong decisions when planning and executing risk-taking procedures and plans, their businesses may lose customers, run out of operating cash flow, or miss future sustainability. Still, entrepreneurial organizations pursue innovation to promote experimentation. In an organizational setting, experimentation means that employees are encouraged to try new things, usually not included in their line operation standards. Continued experimentation introduces new ways of serving customers and promoting organizational productivity. Moreover, persistent experimentation provides new ideas for improving existing products, services, and systems. Continued and consistent experimentation contributes to new ideas and creativity in the long term. As Yodchai et al. (2022) explain, successful innovation and creativity strategies drive entrepreneurial success and promote a culture of continuous improvement. Business leaders can promote creativity in their organizations by encouraging learning, creating flexible work areas, strengthening collaboration capabilities, and encouraging brainstorming (Yodchai et al., 2022). More essentially, business managers should give employees the power and space to follow new deals and explore new ways of doing things. Entrepreneurial organizations pursue innovation prospects by encouraging creativity among employees and pursuing risk-taking and experimentation. Most organiz...