It's a long name, indeed. The issue with this exam is that it is quite practical but theoretical at the same time. In this blog, we will take you along with us on the ride to learn more about BBM311: Corporate Entrepreneurship Leadership and Sustainability Exam.
Entrepreneurship—no, we didn't spell it wrong. That's another name for corporate entrepreneurship. It is often used to develop new business opportunities, products, or services within an organization. It has the potential to double the revenue growth rate of an enterprise. Corporate entrepreneurship is carried out to create value and innovation inside the enterprise. Integrating entrepreneurial thoughts and actions is the main purpose of professionals pursuing this subject.
This subject, BBM311: Corporate Entrepreneurship, Leadership, and Sustainability, is designed to help students learn how to introduce new ideas in corporate firms, how to lead employees to meet organizational goals, and how to maintain the firm's sustainability effectively.
Corporate entrepreneurship is a series of activities designed to improve a company's ability to innovate, take risks, and capitalize on market possibilities. In addition, corporate entrepreneurship focuses on the formation of new business ideas, new market allocations, subsequent commercial pursuits, or both.
If we break down the responsibilities of a corporate entrepreneur, then the mentioned below will suffice as criteria:
Motivating entrepreneurs
Making decisions on business factors
Implementation is crucial and requires complex decisions related to business management.
Leading the company to achieve the monthly and yearly targets
Making the employee more concerned about the performance of the project
Leadership is influencing or motivating others to achieve a common goal. An organizational leader encourages employees by giving monetary or non-monetary benefits to effectively and efficiently meet organizational goals.
If, by this paragraph, you have made up your mind that you want to be a corporate entrepreneur, then don't rush into this. To your surprise, there are four major types of corporate entrepreneurship:
Corporate Venturing
Developing new businesses within new companies The field of corporate venturing involves larger companies investing in and supporting entrepreneurs. They can help the latter by taking minority equity (directly or through venture capital funds). Companies like Google, Qualcomm, Comcast, Dell, Microsoft, Nokia, and Intel are major corporate venture companies.
Intrapreneuring
Over the years, any business gets redundant. The innovation factor needs to be improved in the industry after it has a list of loyal clients that bring revenue into the company. But guess what? The practice of intrapreneurs fulfils the need for driving and thriving on innovation.
Organizational Transformation
In this field, a company assigns organizational ownership for driving the creation of new businesses to a designated corporate-level group. But all this occurs under a professional's supervision responsible for focused ownership and ad hoc resource allocation. Here, the role of advocacy organizations comes into the limelight.
Rule Transformation
A business runs on rules that are set according to industry standards. Once the industry standards change, these rules need to be updated. Industry rule-bending is a transformation that revises industry rules in which the organization is involved to identify and create new opportunities.
Corporate leadership, as it's referred to. The role of a corporate leader is to steer a company or organization through its day-to-day activities and functions. The ultimate goal is to achieve the goals and aims set by the company. The main focus is not on financial and business strategies but on human resource management, crafting core values, cultural diversity, and promoting an inclusive environment. One should know how to deal with people on a personal level to find success in this field.
The business mindset has witnessed a major shift with the growing concerns about global warming. Now, growth with a significant amount of sustainability is preferred. Governments, societies, and stakeholders expect organizations to refer to good practices for people and the environment.
When one glances over the World Economic Forum's list of the top global risks, major environmental risks, such as climate action failure, secure the podium positions.
To tackle this issue, corporations must have a corporate sustainability strategy to address climate volatility, create a better world for our communities, and ensure that long-term economic growth is possible.
We have got to get some seriousness into the conversation now. What are the career prospects after opting for an MBA in innovation, corporate entrepreneurship, and sustainability?
Well, there are a spectrum of options. The options have been mentioned below:
1. Corporate Entrepreneurial Specialist
2. Leadership Consultant
3. Sustainability Manager
4. Corporate Social Responsibility (CSR) Manager
5. Business Development Manager
6. Entrepreneurship and Innovation Consultant
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This might seem like an easy exam, but once you get a hold of the intricacies, You will know that remembering the terms and definitions is only part of the syllabus. From teaching industrially accepted rules and regulations to damage control, you learn many things. The secret to acing this exam is the same old recipe: eat, sleep, practice mocks, and repeat. If you encounter problems on the way to the exam, our expert team at Assignment Global is always here.
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