BSD115 Business Brief
1.0 Introduction
The purpose of this brief is to provide the management team with an understanding of entrepreneurial culture and its relevancy to Furlanis Hotels Pty Ltd by examining the associated costs and benefits of its implementation. Furlanis Hotels employ 500 employees and has its hotels operating in Melbourne and Sydney, and its headquarter is in Brisbane.
2.0 Overview of Entrepreneurial Culture
An entrepreneurial culture allows innovation and change to occur in order to adapt to a changing external environment (Samson & Daft, 2012, p. 330 & 32). This can be achieved through the creation of a new product/service, or innovation of existing product/service (Schaper & Volery, 2007, p. 400). By doing so, a competitive advantage can be created within a marketplace. To encourage creativity, managers need to establish an internal organizational culture of freedom, ownership, participation, support and failure embracement (Turley, 2011, p. 22-23; Samson & Daft, 2012, p. 331). This also means the organisational structure has to be flatter and flexible in order to allow knowledge and ideas to pass horizontally between departments. This approach results in a cross-fertilization of ideas and in doing so, it promotes a better response to consumer demand and ensures quicker delivery of new products or services (Innovation is more than just a good idea, 2008; Samson & Daft, 2012, p. 336). A flat structure also limits hierarchical levels and provides lower-level employees with decision-making power (Samson & Daft, 2012, p. 30-31). Having a right entrepreneurship culture is a critical element in the long-term success of any organisation (Schaper & Volery, 2007, p. 401).
3.0 Relevance to Furlanis Hotels
In a hypercompetitive environment, hoteliers must be innovative and flexible to adapt to new product and service demand in the marketplace. This is to ensure a better experience for the hotel guests (Jogaratnam & Ching-Yick Tse, 2006, p. 455). If Furlanis Hotels
The purpose of this brief is to provide the management team with an understanding of entrepreneurial culture and its relevancy to Furlanis Hotels Pty Ltd by examining the associated costs and benefits of its implementation. Furlanis Hotels employ 500 employees and has its hotels operating in Melbourne and Sydney, and its headquarter is in Brisbane.
2.0 Overview of Entrepreneurial Culture
An entrepreneurial culture allows innovation and change to occur in order to adapt to a changing external environment (Samson & Daft, 2012, p. 330 & 32). This can be achieved through the creation of a new product/service, or innovation of existing product/service (Schaper & Volery, 2007, p. 400). By doing so, a competitive advantage can be created within a marketplace. To encourage creativity, managers need to establish an internal organizational culture of freedom, ownership, participation, support and failure embracement (Turley, 2011, p. 22-23; Samson & Daft, 2012, p. 331). This also means the organisational structure has to be flatter and flexible in order to allow knowledge and ideas to pass horizontally between departments. This approach results in a cross-fertilization of ideas and in doing so, it promotes a better response to consumer demand and ensures quicker delivery of new products or services (Innovation is more than just a good idea, 2008; Samson & Daft, 2012, p. 336). A flat structure also limits hierarchical levels and provides lower-level employees with decision-making power (Samson & Daft, 2012, p. 30-31). Having a right entrepreneurship culture is a critical element in the long-term success of any organisation (Schaper & Volery, 2007, p. 401).
3.0 Relevance to Furlanis Hotels
In a hypercompetitive environment, hoteliers must be innovative and flexible to adapt to new product and service demand in the marketplace. This is to ensure a better experience for the hotel guests (Jogaratnam & Ching-Yick Tse, 2006, p. 455). If Furlanis Hotels