Skip to main content
SpringerLink
Log in

Agile Intrapreneurship in Volatile Business Environment: Changing Roles of Financial Managers and Risk Takers According to Schumpeterian Approach

  • Chapter
  • First Online:
Risk Management, Strategic Thinking and Leadership in the Financial Services Industry

Part of the book series: Contributions to Management Science ((MANAGEMENT SC.))

  • 2176 Accesses

Abstract

As a result of the economic, social and cultural reflections of the rapidly developing information and communication technologies, a new social reference was developed based on information society which is a an intellectual reformist domain paradigm which can also be called as the information age. In this radical transformation process, where information becomes a strategic resource including information and communication technologies in its center, economic, social, political and cultural lives were deeply affected. The changes and developments in social dynamics also affected the structure of the organizations, their management understanding, the technologies used and the employees while the organizations had to re-design their functions and the managers had to re-design their roles. More importance was given to the intrapreneurship and leadership qualities of the managers who can adapt to the changing competition conditions in the organizational sense in the information society. This destructive change in the operation and management techniques also affected the economy theories and was affective in the development of endogenous growth approach. In this section, we draw a conceptual framework between leadership and managership, discuss personal characteristics of the chief officers and financial managers, the leadership of the time while looking for a place for these concepts within Schumpeter’s approaches and endogenous growth theories.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 129.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 169.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Similar content being viewed by others

References

  • Adams EA (2013) Context, culture, and cognition: the significant factors of global leadership research. Int Leadersh J 5(2):94

    Google Scholar 

  • Aghion P, Howitt P (1997) Endogenous growth theory. MIT Press, Cambridge, MA

    Google Scholar 

  • Aned OAM, Alya OAM (2013) Invigorating entrepreneurial spirit among workforce. Int J Manage Sustain 2(5):107–112

    Google Scholar 

  • Barro R (1990) Government spending in a simple model of endogenous growth. J Polit Econ 98:103–125

    Article  Google Scholar 

  • Becker GS, Murphy KM, Tamura R (1990) Human capital, fertility, and economic growth. J Polit Econ 98:12–37

    Article  Google Scholar 

  • Brouwer MT (2002) Weber, Schumpeter and Knight on entrepreneurship and economic development. J Evol Econ 12:83–105

    Article  Google Scholar 

  • Brynjolfsson E, McAfee A (2014) The second machine age. Work, progress, and prosperity in a time of brilliant technologies. W.W. Norton, New York

    Google Scholar 

  • Cameron KS (2014) Positive leadership requires positive energy. The Wheatley Institution, http://wheatley.byu.edu/fellow_notes/individual.cfm?id=35&gt

  • Castells M (2000) Materials for an exploratory theory of the network society. Br J Soc 51(1):5–24

    Article  Google Scholar 

  • Deloitte (2010) CFO after the millennium: the 10 essential elements marked the last 10 years, Deloitte CFO Series 2, September 3

    Google Scholar 

  • Dowrick S (1995) Innovation and endogenous growth: the new theory and evidence. Economic approaches to innovation. Edward Elgar, Cheltenham

    Google Scholar 

  • Drucker PF (1984) Our entrepreneurial economy. Harvard Bus Rev 62(2):59–64

    Google Scholar 

  • Drucker PF (1986) Innovation and entrepreneurship: practice and principles. Simon and Schuster, New York

    Google Scholar 

  • Drucker PF (1999) Management challenges for the 21st century. Harper Collins, New York

    Google Scholar 

  • Drucker PF (2008) Management, revised edn. Harper Collins, New York

    Google Scholar 

  • Ebner A (2000) Schumpeterian theory and the sources of economic development: endogenous, evolutionary or entrepreneurial? In: The International Schumpeter Society conference on “Change, development and transformation: transdisciplinary perspectives on the innovation process”, Manchester

    Google Scholar 

  • Eryiğit N, Uslu T (2014) Human resource and knowledge management in industrial clusters within the framework of international technology transfer and regional development. In: Proceedings of 14th Production researches symposium, Bahçeşehir University, pp 429–438

    Google Scholar 

  • Fine B (2000) Endogenous growth theory: a critical assessment. Cambr J Econ 24(2):245–265

    Article  Google Scholar 

  • Frame WS, White LJ (2004) Empirical studies of financial innovation: lots of talk, little action? J Econ Lit 42(1):116–144

    Article  Google Scholar 

  • Freeman C, Soete L (1997) The economics of industrial innovation, 3rd edn. MIT Press, Cambridge, MA

    Google Scholar 

  • Grossman GM, Helpman E (1994) Endogenous innovation in the theory of growth. J Econ Perspect 8(1):23–44

    Article  Google Scholar 

  • Hébert RF, Link AN (2006) Historical perspectives on the entrepreneur. Found Trends Entrepreneursh 2(4):1–152

    Article  Google Scholar 

  • Heunks JF (1998) Innovation, creativity and success. Small Bus Econ 10:263–272

    Article  Google Scholar 

  • Hisrich RD (1985) The woman entrepreneur in the United States and Puerto Rico: a comparative study. Leadersh Org Dev J 5:3–8

    Article  Google Scholar 

  • Hisrich RD, Peters PM (2002) Entrepreneurship. McGraw-Hill Irwin, London, UK

    Google Scholar 

  • Hisrich RD, Peters MP, Shepherd DA (2005) Entrepreneurship. McGraw-Hill, New York

    Google Scholar 

  • HM Treasury (2004) Science and innovation investment framework 2004–2014. Department for Work and Pensions, Department for Education and Skills, The Stationery Office, HMSO, London

    Google Scholar 

  • House RJ, Hanges PJ, Javidan M, Dorfman PW, Gupta V (2004) GLOBE culture, leadership and organizations. Sage, London

    Google Scholar 

  • Juniper J (2002) Universities and collaboration within complex, uncertain knowledge-based economies. Crit Perspect Acc 13:747–778

    Article  Google Scholar 

  • Kirkman B (1997) The impact of cultural values on employee resistance to teams: toward a model of globalized self-managing work team effectiveness. Acad Manage Rev 22(3)

    Google Scholar 

  • KPMG (2016) Are you renaissance CFO? KPMG Turkey Agenda Magazine, No. 25, Winter

    Google Scholar 

  • Lambooy J (2005) Innovation and knowledge: theory and regional policy. Eur Plann Stud 13(8):1137–1152

    Article  Google Scholar 

  • Larson AL (2000) Sustainable innovation through an entrepreneurship lens. Bus Strateg Environ 9:304–317

    Article  Google Scholar 

  • Leslie JB (2009) The leadership gap; what you need, and don’t have, when it comes to leadership talent. Center for Creative Leadership, 9

    Google Scholar 

  • Lucas RE (1988) On the mechanics of economic development. J Monet Econ 22(1):3–42

    Article  Google Scholar 

  • Lunenburg FC (2011) Leadership versus management: a key distinction-at least in theory. Int J Manage Bus Admin 14(1):2

    Google Scholar 

  • Malaviya P, Wadhwa S (2005) Innovation management in organizational context: an empirical study. Glob J Flex Syst Manage 6(2):1–14

    Google Scholar 

  • Metcalfe S (1997) Technology systems and technology policy in an evolutionary framework. Technology, globalisation and economic performance. Cambridge University Press, Cambridge, pp 270–273

    Google Scholar 

  • Mill JS (1954) Principle of political economy with some of their application to social philosophy. In: Schumpeter JA (ed) History of economic analysis. Oxford University Press, New York

    Google Scholar 

  • Montgomery E, Wascher W (1988) Creative destruction and the behavior of productivity over the business cycle. Rev Econ Stat 70(1):168–172

    Article  Google Scholar 

  • Nielsen R, Peters MP, Hisrich RD (1985) Intrapreneurship strategy for internal markets - corporate non-profit and government institution cases. Strateg Manage J 6:181–189

    Article  Google Scholar 

  • Pack H (1994) Endogenous growth theory: intellectual appeal and empirical shortcomings. J Econ Perspect 8(1):55–72

    Article  Google Scholar 

  • Patrinos HA (1994) Notes on education and economic growth: theory and evidence. Human Resources Development and Operations Policy Working Papers, no. HRO 39. World Bank, Washington, DC

    Google Scholar 

  • Pinchot G (1984) Who is the intrapreneur? In: Intrapreneuring: why you don’t have to leave the corporation to become an entrepreneur. Harper & Row, New York, pp 28–48

    Google Scholar 

  • Praag CM (1999) Some classic views on entrepreneurship. The Economist 147(3):311–335

    Article  Google Scholar 

  • Ries E (2011) The Lean startup: how today’s entrepreneurs use continuous innovation to create radically successful businesses. Crown Publishing, New York

    Google Scholar 

  • Romer PM (1986) Increasing returns and long-run growth. J Polit Econ 94(5):1002–1037

    Article  Google Scholar 

  • Rosenfeld R, Servo JC (1994) Facilitating innovation in large organization. In: Henry J, Walker D (eds) Managing innovation. Sage Publication, London

    Google Scholar 

  • Schumpeter JA (1934) The theory of economic development. Oxford University Press, New York

    Google Scholar 

  • Schumpeter JA (1939) Business cycles: a theoretical, historical and statistical analysis of the capitalist process. McGraw-Hill Book, New York

    Google Scholar 

  • Schumpeter JA (1947) The creative response in economic history. J Econ Hist 7(2):149–159

    Article  Google Scholar 

  • Schumpeter JA (1962) Capitalism, socialism, and democracy, Harper perennial, 3rd edn. Harper Collins, New York

    Google Scholar 

  • Shaw GK (1992) Policy implication of endogenous growth theory. Econ J 102:590–620

    Article  Google Scholar 

  • Solans ED (2003) Financial innovations and monetary policy. In: 38th SEACEN Governors conference on structural change and growth prospects in Asia - challenges to central banking, Manila, 13 Feb 2003. https://www.ecb.europa.eu/press/key/date/2003/html/sp030213.en.html

  • Solow RM (1994) Perspectives on growth theory. J Econ Perspect 8(1):45–54

    Article  Google Scholar 

  • Starratt RJ (1995) Leaders With vision the quest school renewal. Corwin Press, Thousand Oaks, CA

    Google Scholar 

  • Stewart WH, Roth PL (2001) Risk propensity differences between entrepreneurs and managers: a meta-analytic review. J Appl Psychol 86(1):145–153

    Article  Google Scholar 

  • Tannenbaum R, Schmidt WH (1973) How to choose a leadership pattern. Harvard Bus Rev 36:162–180

    Google Scholar 

  • Uslu T (2014). Perception of organizational commitment, job satisfaction and turnover intention in M&A process: a multivariate positive psychology model. Unpublished PhD Thesis, Department of Business Administration, Marmara University

    Google Scholar 

  • Uslu T (2015a) Current leadership approaches and the maintenance of the fourth industrial revolution from a Schumpeterian point of view. In: International congress on economy administration and market surveys, Istanbul, 4–5 Dec 2015, pp 110–111

    Google Scholar 

  • Uslu T (2015b) The comparison of contemporary leadership styles in organizational context according to employees. In: Proceedings of international conference on modern research’s in management, economics and accounting, Istanbul, 27 Jul 2015. ISBN: 978-9944-0203-10-2

    Google Scholar 

  • Uslu T, Çubuk D (2015) The effects of knowledge management and self-organization on organizational creativity: the mediating roles of corporate innovativeness and organizational communication. Int J Org Leadersh 4(4):403–412

    Google Scholar 

  • Uslu T, Bülbül IA, Çubuk D (2015) An investigation of the effects of open leadership to organizational innovativeness and corporate entrepreneurship. Els Proc Soc Behav Sci 195:1166–1175. doi:10.1016/j.sbspro.2015.06.169

    Article  Google Scholar 

  • Utterback JM, Acee HJ (2005) Disruptive technologies: an expanded view. Int J Innov Manage 9(1):1–17

    Article  Google Scholar 

  • Winata S (2008) The economic determinants of entrepreneurial activity: evidence from a Bayesian approach. Massey University, Palmerston North

    Google Scholar 

  • Womack JP, Jones DT (1996) Lean thinking. Simon & Schuster, New York

    Google Scholar 

  • Xiao S, Zhao S (2012) Financial development, government ownership of banks and firm innovation. J Int Money Fin 31(4):880–906

    Article  Google Scholar 

  • Yang X, Borland J (1991) A microeconomic mechanism for economic growth. J Polit Econ 99:460–482

    Article  Google Scholar 

  • Young A (1993) Invention and bounded learning by doing. J Polit Econ 101(3):443–472

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Graduate Program of Business Management, Istanbul Gedik University, Kartal, Istanbul, Turkey

    Tuna Uslu

Authors
  1. Tuna Uslu
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Tuna Uslu .

Editor information

Editors and Affiliations

  1. Istanbul Medipol University , Eyup, Istanbul, Turkey

    Hasan Dinçer

  2. Istanbul Medipol University , Beylikduzu, Istanbul, Turkey

    Ümit Hacioğlu

Rights and permissions

Reprints and permissions

Copyright information

© 2017 Springer International Publishing AG

About this chapter

Cite this chapter

Uslu, T. (2017). Agile Intrapreneurship in Volatile Business Environment: Changing Roles of Financial Managers and Risk Takers According to Schumpeterian Approach. In: Dinçer, H., Hacioğlu, Ü. (eds) Risk Management, Strategic Thinking and Leadership in the Financial Services Industry . Contributions to Management Science. Springer, Cham. https://doi.org/10.1007/978-3-319-47172-3_22

Download citation

Publish with us

Policies and ethics

Search

Navigation