How to keep the entrepreneurial spirit in growing companies
Problem: Once a business is running, simultaneously the treat of loosing the entrepreneurial
spirit is occurring. The team is not as passionate and people do not seem as enthousiastic,
and what was once a mission is now seemingly nothing more than a job for you and for
them. Many factors cause the damage; however, the structure and the human resource
management are two particularly factors involved in that damage.
Purpose: The purpose of this thesis is to investigate how the structure and the human resource
management serve as rescuers to force and keep the entrepreneurial spirit. The authors
findings will help them give suggestions on how these two basic fields help in stabilizing
Method: The data collection is based on theories related to findings from the real life business
world. To assemble qualitative and reliable research, the authors conducted seven oral
interviews with professionals working in different positions. In addition, the interviewees
were selected from four different companies and different industries.
The structure in growing firms needs regular adjustment to hold a clear communication
and clear definition of responsibilities which are crucial for the survival of the firm. Firms
relying on innovativeness need to find the balance between openness of communication,
flexibility and the degree of bureaucratization. In addition, firms based on innovation
should be aware of tolerance of failure. Trust between management and employees also
tend to influence the overall performance of the firm.
As the business develops, HRM practices also follow a certain change and update. An established
firm needs to have clear competences of what is needed in the organization. Besides
that, the firms need to emphasize training and development. In addition to keep people
motivated and sustain the entrepreneurial spirit, firms need to be aware of rewarding.
Eventually the authors also discovered a need to include internationalization in their thesis
and how it is related to sustain the entrepreneurial spirit in growing firms.
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