Entrepreneurial Culture – Chapter 13 Nature of Culture Components of Culture Levels of Culture Core Ideology and the Envisioned Future Elements of an Entrepreneurial Culture Cintas Model Individualism vs Collectivism Failure Chain of Greatness

Nature of Culture Basic beliefs and assumptions about the company Emotional aspect Reflect history Inherently symbolic Fuzzy Substance and Form

Components of Culture Values Rules of Conduct Vocabulary Methodology Rituals Myths and Stores

Levels of Culture Three levels Figure 13.1 Assumptions – Substance Values – Substance Artifacts and Creations - Form Figure 13.1 Culture underlies all components of work environment that support entrepreneurship

Core Ideology and the Envisioned Future Core values Core purpose – never ending quest Envisioned Future Clear and compelling goals to be achieved Vivid description of what it will take to get there

Elements of an Entrepreneurial Culture People and empowerment focused Value creation through innovation and change Attention to the basics Hands-on management Doing the right thing Freedom to grow and to fail Commitment and personal responsibility Emphasis on the future and a sense of urgency

Issues Confronting Entrepreneurial Culture Conflicting value choices – Primary Values Balance Quantitative vs Qualitative decision-making basis Healthy discontent

Cintas Model Proactively manages culture Ownership driven Four characteristics: We are professional We live by the rules and have high ethical and moral standards We act with a sense of urgency in everything we do We have a sense of positive discontent

Individualism vs Collectivism Self-orientation Emphasis on self-efficiency and control Pursuit of individual goals Value system driven by pride in their own accomplishments Collectivism Group-orientation Subordination of personal interests and goals Emphasis on sharing Concern for group welfare Table 13.3 Entrepreneurial Intensity is achieved by balance between individualism and collectivism

Failure Entrepreneurial Firm embraces it Perceived Psychological Types: Moral, Personal, Uncontrollable Figure 13.4 Failure can enhance success only if learning is taking place

Chain of Greatness Timmons Model Figure 13.5 Vision Learning Entrepreneurial Mindset and Values Responsibility and Accountability Results