Exploring how to achieve a corporate entrepreneurial financial organisation in the 21st century: A case of Iemas Financial Services.

Abstract

This study is aimed to increase the understanding of how financial service companies in South Africa can develop and enhance entrepreneurial innovation and promote entrepreneurial activity within the company’s boundaries that is necessary to generate profits. Financial service companies face macroeconomic challenges in order to sustain the revenue streams especially now with the fourth industrial revolution that is upon us; a shift in culture is required. Financial service companies need to create an entrepreneurial oriented company that pursues innovative opportunities that increase the company’s competiveness as well. The features of corporate entrepreneurship are explored to determine whether it exists at all in the organisation in order to drive innovation necessary to create the competitive advantage in financial services companies. Previous research supports the notion that manager’s has a significant impact on individual creative ability, and employees who reported high-quality relationships with their managers were more likely to generate creative ideas. This research study explores the role of corporate entrepreneurship orientation or leader administration in relation to corporate entrepreneurship with regards to business creativity and innovation at Iemas Financial Services. A case study approach was undertaken and qualitative data collected on sales and marketing, business development and information technology managers within the organization. A mixed method approach is employed involving audit questionnaire to compile quantitative data on innovative activity and an interview to gather qualitative data to identify some critical insights on the Iemas financial services. Findings from this case study (based on Iemas Financial Services) concluded that the dimensions of corporate entrepreneurship have a positive influence on innovation. The thorough and meaningful assessment of the financial service industry was not attained. The study provided insights that can be useful to companies that are looking to find methods to revive or improve their commercial services offered to customers.