By Andreea Andrei, Marketing and Business Administration Executive at The Cloud Computing, SaaS and Security Awards
This article is part of an A to Z series by Cloud and SaaS Awards, continuing with R for Resources
Currently, it is well known how the proliferation of the entrepreneur figure is informed, supported, and encouraged by many public administrations and organizations, both national, regional, and local, as well as from other private organizations. This is seen as one of the factors that may be advantageous for the revival of economic activity and territorial growth, and consequently for the creation of jobs.
It is unique in this situation to think of the figure of the entrepreneur as a capital component for boosting the organization’s future competitiveness and as a way to gain access to new kinds of knowledge and innovation in businesses and organizations. According to recent studies, these behaviors contribute to innovative procedures for identifying and seizing new business possibilities. They also result in new ways of working and organizing the way we do our jobs.
Cloud computing technology
Cloud computing technology experienced fast growth; The information technology sector has made a name for itself as a possible source of business for organizations. The advancements in hardware, virtual technologies, and service delivery via the network from the Internet are the primary drivers of cloud computing.
In the first ten years of the twenty-first century, cloud computing first appeared. The belief that big businesses could manage a lot of information more effectively was the driving force behind this. It is explained as a metaphor for a group of resources distributed, virtualized computing systems that take on a hazy, cloud-like look.
Cloud computing is described by NIST (National Institute of Standards and Technology) as “a model for enabling ubiquitous, convenient, and on-demand access to a set of configurable computing resources” (such as networks, servers, storage, applications, and services) that can be quickly provisioned and launched with little management work or vendor interaction services.
Benefits of using a cloud computing technology
With cloud computing, businesses can select from a variety of software solutions, platforms, or computing infrastructure deployment strategies. The advantages of cloud-based technologies over other kinds of technology include:
- Greater effectiveness;
Cloud computing technology enables the merging of two information technology capital lines: on the one hand, the effectiveness of computer resources and, on the other, the favoring of business agility, creating the potential for a competitive advantage.
Accessibility and availability are listed in a variety of contexts and work environments as one of the primary benefits. They are more adaptable than other options due to the variety of access supports available.
Other clearly discernible benefits in the use of cloud computing technology are:
- The ability to generate new and innovative services through the Internet without this requiring the creation of large infrastructures. Experts consider that this model offers great possibilities for organizations, both in terms of investment and economies of scale, allowing virtual relocation and access to information from anywhere.
- The ability to provide applications or services that precisely satisfy demand and can adapt to future demand.
- The rapid deployment of new applications without using the computing resources of the organization.
- The flexibility to deal with sudden changes to ups and downs in demand.
Corporate entrepreneurship (CE) or intrapreneurship (IE)
The use of cloud computing tools or the cloud itself have become more prevalent among businesses and organizations.
It has recently developed into a strong substitute for the conventional IT tools, encouraging the creation of business models based on the rental or purchase of computer equipment. Companies and organizations as well as users at a specific level are participating in a process of technological transformation. The management of information will be concentrated in large data centers and will be offered to individuals, companies, and organizations.
Recent years have seen a significant boom in the associated studies regarding the identification of intrapreneurial behaviors by the working employees of businesses and organizations, as well as the potential benefits both at the level of innovation and improvement of competitiveness.
Corporate entrepreneurship (CE) or intrapreneurship (IE) calls for adjustments to how a company or organization uses and deploys its resources.
Intrapreneurial actions for companies and organizations presuppose an increase in their capabilities and, consequently, opportunities for the start-up of new businesses or established businesses.
Benefits of corporate entrepreneurship (CE) and intrapreneurship (IE)
Organizational needs resulting from the deployment of technology will be better supported by businesses and organizations’ flexibility on both a functional and operational level. This has been the case fundamentally ever since the start of the twenty-first century.
More and more demanding markets are putting organizations under considerable stress from an increasingly competitive environment that is more dynamic and hostile. Competition drives businesses and organizations to put more of an emphasis on taking advantage of possibilities and producing innovation more effectively. The whole of a company’s innovative and strategic renewal initiatives is the IE or CE.
Studies on IE and EC have been more prevalent in recent years, highlighting how the IE or EC favors in businesses and organizations the identification and exploitation of competitive advantages along with the discovery of new business opportunities, obtaining an increase in profits and greater economic growth.
The individuals who make up the organizations enable the adoption of these habits at the individual level. The IE or EC has been conceptualized in this field of research as a multidimensional phenomena that takes into account an individual’s relationships and behavior with his firm and organization.
The existence of intrapreneurs implies a number of advantages for businesses and organizations, which could result in competitive advantages. The responsible individuals in an organization are assisted by the intrapreneurs in reviving and innovating their firm.
Innovating through cloud resources and technology
Companies and organizations use their ability for innovation and creativity to attract the necessary resources in order to find and take advantage of possibilities. Both prospective competitive advantages, such as the ability for environmental adaptation, are maintained up to date as a result of these resources, so they can deal with potential threats as a result of grabbing opportunities.
Companies and organizations are accustomed to incorporating resources and/or innovation through suppliers, internal research methods, or external research activities. Innovation is influencing how business is managed as new technologies are developed, applied, and improved at a rapid rate.
The idea of a corporation as an organization, in relation to the process of economic system change, and as an efficient and effective response in the time period that has been defined by the contemporary society as the use of cloud-based tools and resources that helps with the creation of commercial ventures.
Technology and technological change become important factors to consider while establishing and reformulating cloud designs since they have an impact on how their members behave and how their organizations develop. As a result, information and communication technology (ICT) are now essential components of any organization.
In recent years, businesses and organizations have had to overcome significant obstacles. The capital value of technology while it may result in an increase in revenue and benefits for some, it may also cause a considerable decline in their competitiveness for others.
As a result of the innovation brought about by the CE, access to and use of specific resources by businesses and organizations turn into capital for the attainment of sustainable growth. Due to the encouragement of entrepreneurial behavior within businesses today, as well as the managerial abilities of their responsible personnel, the management of potential innovation is becoming more and more crucial.
An organization must take into account the set of resources and competencies when deciding how to promote the presence of intrapreneurship in the workplace.
The fact that resources may be obtained by businesses and organizations, whereas capabilities have a unique character and are associated with individuals, is an essential consideration. Companies will be able to apply these to scenarios with a higher level of creativity and competitive advantage depending on how they manage the resources and tools at their disposal.