Faculty of Commerce, Law and Management (ETDs)

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Subject: search.filters.subject.SDG-8: Decent work and economic growthSubject: search.filters.subject.InnovationSubject: search.filters.subject.UCTDSubject: search.filters.subject.Corporate entrepreneurship

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    The impact of barriers to Inter-Company Innovation flows and Corporate Entrepreneurship at a Financial Services Organisation in Johannesburg
    (University of the Witwatersrand, Johannesburg, 2023) Maseko, Buyisile; Matshabaphala, Manamela
    Background: Increasing stability and improving the quality of services are the main challenges facing the financial industry since the 2008 fiscal crisis. In this paper, we explored the barriers within large financial services firms that influence the effectiveness of disruptive and radical innovation. Providing quality services to customers is one of the pillars of financial services companies. It is imperative that they continuously innovate their services in order to sustain their revenue streams in tough macroeconomic times and amid rapid technological growth. Research Purpose: This paper investigated the barriers that impact the inter-company innovation flow in the financial service sector and corporate entrepreneurship. In simple terms, we examined the link between corporate entrepreneurship and financial innovation and how barriers to these flows can impact inter-company innovation. As part of this study, we examined the factors that predict service innovation in the financial services sector such as management support, work discretion, rewards and reinforcement, and organisational boundaries. Setting: A survey questionnaire was conducted with employees within a Financial Services Organisation in South Africa - across various designations. Research Method and Approach: In order to gather responses from all levels of employees within one of the country's leading banks, a case study approach was adopted. To gather quantitative data, an online survey was conducted using scales for corporate entrepreneurship and service innovation. The inferential statistics were based on multiple linear regressions and factor analysis. Main Findings: Several major barriers to innovation and change were identified in the emerging findings, including bureaucracy, poor communication, lack of engagement by employees, management challenges and risk aversion. Based on the study's findings, corporate entrepreneurship predicted certain dimensions of service innovation. There was a significant (p 0.05) correlation between rewards and recognition, management support, and time availability on the basis of service innovation. Service innovation was not significantly influenced by work discretion or organisational boundaries. Using employee perceptions of barriers to innovation and change, this study provides managers and practitioners with insight into how to improve the organizational conditions to support innovation and change. Based on the results of this study, further research can be conducted in this field. Value of Research: The insights gained from this study can help companies improve commercial services and build competitive advantage through corporate entrepreneurship and address inter-company innovation barriers. According to the results, the financial services industry is unable to innovate in response to society's demand for radical change. Identifying the internal barriers to potential disruptions and radical innovations in large financial services firms are the purpose of this study
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    The promotion of Corporate Entrepreneurship in the South African financial services organisations
    (University of the Witwatersrand, Johannesburg, 2021) Nhlapo, Simon; Alovokpinhou, Sedjro Aaron
    There has been a growing interest in corporate entrepreneurship in the last four decades. Corporate entrepreneurship has therefore become a necessary attribute that organisations that wish to gain competitive advantage and be market leaders should possess. This study assesses the extent to which corporate entrepreneurship is promoted and encouraged in South African financial services organisations. The research study identifies and investigates organisational internal factors, which affect the promotion of corporate entrepreneurship in South African financial services organisations through administering Corporate Entrepreneurship Assessment instrument (CEAI). The research results indicate that work discretion is the only construct that respondents perceived to be encouraged and promoted. This was further confirmed by higher positive responses on items relating to autonomy and freedom. Participants reflected a neutral sentiment regarding the promotion of corporate entrepreneurship irrespective of gender, age, organisational level, tenure, and overall employment tenure. The research results also suggests that management sentiment is low on time availability for the promoting entrepreneurial activities. Therefore, we conclude that the South African financial services industry still has an enormous task to create an environment conducive for corporate entrepreneurship.