Essay Entrepreneurial Audit

5424 Words Oct 3rd, 2008 22 Pages

Textbooks and literature
1) Corporate Entrepreneurship and Innovation, Entrepreneurial Development within Organisations, Second Edition, Thompson Southwestern, M. Morris, D. Kuratko, and J. Govin.

2) Crafting and Executing Strategy, South African Edition. Text, Reading, and Cases. J. Hough, A. Thompson, A. Strickland, and J. Gamble McGraw Hill

3) Strategic Management of Technological Innovation
Second Edition, 2008.
M. Schilling
McGraw Hill Websites


Farmwise’s History

Farmwise is a company that buys and sells
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When exploring the entrepreneurial intensity in a company such as Farmwise, one must consider three critical elements that influence this intensity. These include innovativeness, risk-taking, and proactiveness. One must then combine these elements to discover the concepts of degree and frequency of the entrepreneurial intensity that is evident in the company.

According to Morris, Kuratko, and Govin, (Corporate Entrepreneurship and Innovation, 2nd edition) innovativeness refers to “…the relative emphasis on concepts or activities that represent a departure from what is currently available.” They also refer to it as the “…extent to which the company is doing things that are novel, unique, or different.” (Morris, Kuratko, and Govin) From the evidenced gleaned, it would seem that Farmwise has some degree of innovativeness. They have a unique method of trading that can be accessed online from their website and this allows comprehensive access for their clients to commodity market with real-time information, graphics and statistical data. They were the first South African company to use this method and have an affiliation with the Chicago Board Of Trade (CBOT) which is the largest agricultural commodity market in the world. This is vital to Farmwise’s success in innovating as the CBOT has a large influence on world markets.

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