Nonaka’s Knowledge-Creating Company
It is true that Nonaka’s Knowledge-Creating Company encourages entrepreneurialism. Entrepreneurship suggests involving stakeholders in creating new ideas to build a new business mind and innovative ideas. In this case, the company explores facts that help Japanese companies to make profits irrespective of the economic environment.
At the same time, the company incorporates new techniques and ideas which are necessary to manage these changes. This is a core entrepreneurship strategy. Providing information to the stakeholders can be considered a key reason why Nonaka is a true entrepreneur supporting company.
To support an entrepreneurship spirit of the stakeholders, the company has initiated an aspiration of goals forum of its employees, as well as nurturing their commitment by involving its employees in the real development activities. This acts as a motivating platform where all are expected to take up the challenges and develop their areas of operation.
The company management provides the employees with the freedom to implement their innovative ideas within the company irrespective of the prevailing risks. This is a key point where entrepreneurialism is promoted by the company.
To support all creative employees, the company outsources the working environment by connecting the employees with other likeminded corporate players to share ideas. Based on these facts, Nonaka Knowledge-Creating Company can be said to be an entrepreneurship supporting company.
Discuss the success of Herb Kelleher’s South West Airlines
Herb Kelleher’s is one of the core founders of Southwest Airlines which started with four airplanes and later became one of the main airline service providers. With a legal and business background, the company managed to move this business forward irrespective of the economic and legal challenges that it faced at the initial stage.
In addition to this, the founder of the company was able to work and relate well with his workers as he believed that employees should be given the priority. He credits the business growth to his employees who treat customers well, hence, promoting a repetitive business.
Within a short time, his business expanded attracting customers and a good reputation all over the world. With respect to the employees, he has become a mentor to many employers, hence, promoting employees rights and respect all over the world.
Major corporations employ workers based on academic qualification but not on their expertise. Skills are relevant in times of economic challenges. Experienced workers are flexible and innovative. Hence, they help their organizations create new economic channels. At the same time, they help manage and sustain growth in their area of interest within the organization.
Most of the growing institutions rely on already established channels of business which expose them to possible risks. Because the already established channels face various risks, it is possible for them to fail in business when one of them corrupts. SHRM (strategy of human resource) advice corporate institutions to hire workers based on their ability to be innovative and creative all the time.
At the same time, organizations should support career growth, as well as expose their employees to entrepreneurship skills as a way of motivating them to sustain their businesses. In this respect, they will be able to manage and survive hard economic times or create economic openings in the already existing market channels.
Discuss the link between Tom Friedman’s “Flat World”
The two sources explain the labor market, challenges and the best ways of improving the relationship between employer and employees. To employers, employees are very important stakeholders of the businesses and their roles should be appreciated by all. Career development and entrepreneurship are other areas of interaction between the two sides.
The two sides believe that employees should be encouraged to be innovative and promote business growth and sustainability. Flat world concept encourages creativity and innovativeness due to the increasing competition and exposures which accommodate self-employment and other related developments in the current operating institutions.
Creation of new products and the way of doing things have changed the usual way of doing things to accommodate the flat world concept. Holding the fact that flat world ensures interaction from all stakeholders in the world, outsourcing and idea change have created space for innovation and creativity.
Education systems have also been changing to accommodate the flat world development as well as ensuring that globalization is realized. The main reason for the need to adjust the education system is mainly because traditional education does not accommodate new changes.
There is an increasing desire to form a single world platform where all share the same experience as opposed to the old education systems which respected single area feelings. Small businesses and others have changed their mood of candidate’s selection as well as changing their blueprint. Those blueprints that fail to accommodate the flat world feelings are said to be inappropriate to the business.