It is all about growing Entrepreneurship IN- HOUSE
Sir C.K. Chow is now domiciled in Sydney as the chief executive of the new brambles after its A$17 BILLION merger with British Engineering giant GKN late last year .Brambles is an Australian based global provider of support services, operating in almost 50 countries across six countries and employing approximately 25000 people .
Chow brings an entrepreneurial style of corporate leadership to the local market place. It a style that made GNK a frontrunner in Britain and won him a knighthood before his 50th birthday.
Chow was headhunted to become a chief executive of GKN in 1996.He set himself and the company the ambitious task of boosting revenue growth by 40 per cent over five years. In a sector such as automotive components ,GKN'S main business ,this seemed a tough call .The British pound GKN's reporting currency , was so strong that it was threatening to sink other icons of British manufacturing such as Rover and BTR.
That Chow and GKN managed to achieve ,even exceed ,the goal are now on public record. At GKN the company managed to achieve chow's target not only through the strategic moves in helicopter and armoured car manufacturing , but also through his championing of corporate entrepreneurship within in the organisation in a program called ''The way Forward".
There was a good reason to promote entrepreneurship at GKN ,says Chow. 'It is a very structured and disciplined company and its most executives are engineers with very high works ethics . In order to encourage growth, we needed to support this strength and combine it with entrepreneurship .
The cornerstone of the Way Forward program was the formation of what Chow calls real working teams ,Starting from executives committees of the company through to every business unit .They work together on real business issues ,often recharting their strategies and redefining their cultures.
Along with the practise of seconding people from their home plants to other parts of the company for the long periods ,The Way Forward Program helped break down competition and suspicion between the plants and created an open atmosphere that encourage the people to feel they were at disadvantage if they did not share their ideas .Previously impeded by cross -cultural rivalries, this was the major break through in organisational behaviour for GKN that took five years to achieve .No successful entrepreneur achieve his success by merely copying what others do; they do something new, different an better ,says Chow .'They are resourceful and often leverage other people's resources to succeed They also do not take risks blindly . They understand risks very well and take actions to mitigate them as they understand that their survival depends on it.
'Two things that I emphasis in new Brambles ,is firstly that we are a business -to -business solutions provider for outsourcing support services and secondly the key to doing that successfully is through the development of people and promoting an enterprising spirit,'Chow says.
'An enterprising spirit is about innovation ,overcoming barriers and it is about resourcefulness. And that's what we would encourage our people to do .'
Innovation in support services is best to come from interfacing with your customers, says Chow,s.Its is about ideas that start with somebody saying ,"Hey let me do this for you." and then it begins ; it may start in a relatively small way, but it can grow very quickly.'
Source ; Adapted from Colquhon,L.(2002).it's all about growing entrepreneurship in - house.AGSM magazine ( Sydney : Australian School of Management0,30 March ,11-12
1. How did GKN achieve Sir C.K.Chow 's Target of 40 % revenue increases over five years?
2.What is the importance of having executives committee spearhead an intrapreneurial initiative? what are the potential problems with that approach.
3. How would you characterise the enterprising spirit at GKN?
Use a minimum of 6 academic journal articles, plus the text supporting your identification of problems and proposals / recommendations to resolve the questions. It is envisaged a Credit grade would require up to14 references with a minimum of 8 academic journals. A Distinction would require up to 18 references with a minimum of 12 academic journals.
To be considered relevant, reference sources should be used correctly to support the discussion, analysis and recommendations, so take care to carefully link the case elements and discussion / analysis to correctly referenced entrepreneurial and business concepts and models. Articles chosen need to be recent (written since at least 2008) and relevant to both the topic and context of the assessment task.
Additional non-academic sources may also be used; however students need to show an understanding of their validity.
Sources such as Wikiâ€¦, scribed.com, docstore.com, etc. are not considered acceptable sources and should not be used â€“ reliance on such sources will result in a Fail grade.
Presentation: Report format - 2000+10% Word .doc or .docx
Responses should have a title page attached reflecting the content and the author, executive summary, table of contents, introduction, suitable headings and sub-headings to cover the relevant content and elements of analysis, conclusion, recommendations, reference list/bibliography, appendices (if relevant).
Harvard referencing (Harvard Anglia version) is to be used. Remember, in business today, to even get your business applications read, let alone considered.
This assessment will be marked using the following marking rubric. Students who desire a specific grade should carefully read the requirements for that grade. If unsure whether your work will meet the required grade criteria, you should ask your tutor to review a draft and provide guidance.