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The Importance of Entrepreneurship For Organizations

 The Importance of Entrepreneurship For Organizations

The science of business administration is one of the most important sciences that deals with how to conduct all operations and activities related to organizations according to a specific and thoughtful system through a series of consecutive and continuous procedures, so that the implementation of these procedures is one of the most important tasks that fall on the shoulders of the administration responsible for each organization, where managers are concerned Business involves a set of organizational processes that include planning, organizing, directing and control. The science of business administration in English is called business management. These organizational processes help organizations achieve the goals they seek in the field in which they are active. The concept of entrepreneurship is linked to the science of business management. The article will mention the concept of entrepreneurship.

The concept of entrepreneurship refers to a creative process related to organizing a new business project or developing an existing business project through a set of decisions that contribute to identifying the problems that hinder the progress of operations in these projects, in addition to promoting the concept of optimal use of the various productive elements, so that entrepreneurs have the ability to motivate the productive elements and bring out their best to achieve the goals that the entrepreneurial project seeks to achieve, and entrepreneurship involves a set of challenges and risks that entrepreneurs seek to overcome in order to reach their goals.

The importance of entrepreneurship for organizations: –

After the concept of entrepreneurship has been clarified, it must be noted that entrepreneurship in organizations means the existence of an organized process that results in qualitative developments by developing a set of ideas and applying them to the organizational reality so that the impact of these ideas is reflected in many of the actors in the organization, and the extent of application of the concept varies. Entrepreneurship in organizations according to the orientation of these organizations and the awareness of those in charge of them of the importance of activating the entrepreneurial role in them, and in what follows some aspects that demonstrate the importance of the concept of entrepreneurship in organizations:

  • Improving profitability in organizations and increasing the percentage of sales due to the presence of a number of new ideas that increase sales operations.
  • Developing organizations’ ability to enter the competitive market by developing the performance of produced goods and improving their quality, which results in the opening of new markets through which the organization can offer goods or services and compete with its counterparts in the local or international markets, in addition to the role of entrepreneurship in the production of new goods or services. It did not exist before.
  • Renewal of business strategies to suit the environment in organizations by activating the element of flexibility in normal operations and activities. Everything that is done in organizational entrepreneurship calls for a renewal of blood in organizations in terms of plans and current and future work mechanisms.
  • Raising the organization’s ability to manage the risks and crises that beset it through new ideas that are put forward and applied in the reality of the organizations.
  • Enhancing the concept of leadership in organizations by increasing individuals’ motivation and passion for work, which is reflected in improving productivity, developing performance, and raising operational efficiency.
  • Increasing the harmony of departments with each other and achieving complementarity in performance, which contributes to reducing costs, in addition to reducing the time and effort consumed in implementing the daily tasks and operations in the various departments.
  • Preventing job conflict by having a clear organizational structure through which responsibilities and authorities are more defined.

Paderau Dewey

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