AKADEMIE FR WIRTSCHAFTSSTUDIEN BUKAREST FAKULTT FR BUSINESS ADMINISTRATION, MIT UNTERRICHT IN FREMDSPRACHEN

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CORPORATE ENTREPRENEURSHIP IN A BANK

Case study: Volksbank

Ruxandra Elena ROU

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Contents

1. Introduction in Corporate Entrepreneurship Definitions 2. Corporate Entrepreneurship in a bank 3. Corporate Entrepreneurship in development of a new service, of a new product. From concept to product. Case study at Volksbank 4. Conclusions

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1.Introduction in Corporate Entrepreneurship Definitions

Since the 1990s the market studies have shown that business community is more attentive to the innovation and competition, even a new term, 'intrapreneurship' (entrepreneurial behavior within a business organization) has been introduced. The current business climate demands that companies, big or small, develop this ability to anticipate and respond to changes in its external environment. Innovation is the development of something new and ultimately depends on the
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The literature converges on the fact that innovation is the single common theme that underlies all forms of CE. However, the presence of innovation is insufficient to describe a company entrepreneurial. The role of employees in the CE activity is very important, and it is supported by the management, source availability, organizational culture, risk taking and tolerance for failure. The organizational culture is the most important element that promotes creativity. The CE strategy is fundamental in the development of a large company. The attributes of entrepreneurial organizations that play in the competitive and changing environment are:

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One can conclude that researchers to have the corporate entrepreneurship concept of researchers has been defined to explain various organizational phenomena such as ways to lead strategy and innovation, and use it as a potentially viable is a means has been recognized to promote and sustain corporate competitiveness.

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2. Corporate Entrepreneurship in a bank

Globalization,

technological advances and information lead to an increasing competition between companies. Any company that does not grow continuously, and do not adapt quickly to technological developments and changes in the environment, will leave the market at a time. Therefore, banks must identify and exploit opportunities to be come more and more "entrepreneurial. Change, innovation and entrepreneurship ar e the key elements for success.
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Corporate entrepreneurship in terms of promoting a service, product.From concept to offer.Case Study at Volksbank Analyse of Volksbank

Volksbank Romania is a commercial bank operating on the Romanian market since May of 2000. Since October 2011, the bank's main shareholder is VBI Beteiligungs GmbH, which has taken stakes owned by Volksbank International. VBI Beteiligungs GmbH has the majority shareholder sterreichische Volksbanken-AG, the bank that is the central institution of one of the largest banking groups in Austria. The main competitors of the bank are: BCR, BRD, Alpha bank, CEC Bank and UniCredit Tiriac Bank. Volksbank Romania has a network of 143 branches and 1450 employees.

The philosophy of Volksbank Romania is carried out in order to use a management method, where an exciting style of working with a disciplined performance and set the direction is connected. Volksbank is built on a cooperation and shared responsibility, along with an entreprenorial "spirit" to all employees - the foundation of the success of the bank.

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 The

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model developed in literature by Guth and Ginsberg that treats the factors of Intrapreneurship: environment, such as competition or technology; strategic leadership posture, such as values and behaviors; organizational

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The workflow for the development of a new product

1. The market analysis Should be performed with the participation of the Product Development Department, Controlling Department, Accounting and Legal department. General situation of the market; Marketing strategy of competing banks; Sales strategy of competing banks (sales 5/30/12 88

Development of a new product- Mobile Banking- in Volksbank Romania

Internet will be the dominating canal for transactions and services. Mobile Banking services seem to be the last trends during the last four years, and this development also came to the Romanian market.
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Where is the innovation in Volksbank Mobile Banking? Optimization and quicker auto purchase process by Volksbanks Mobile Banking services. This process encloses two phases: - a potential buyer should take up a picture of the vehicle identity number of the new car with his Smart Phone. - the applicable loan rates, insurance rates and some special pre-negotiated rates for this car are sent back in the I-Phone after 10 minutes to make easier the decision to the customer whether he wants to buy the car or not, and after the client decides he send his approval for the transaction Optimization flow: Optimization flow: safe of time and resources; This way, the client (natural or juridical person) doesnt have to go to a VBR branch to make payments. Security: the way to secured login. The Mobile Banking application requires three filters to allow secure access until making the payments from the accounts of the clients to clients Additional Features: deposits, making foreign exchange, current account opening, etc. Flexibility of administration: the customer can define single users with rights introduction, approval and authorization as well as limits on the amount and type user transaction Flexible use: Client can define an unlimited number of beneficiaries, may approve and authorize payments through a simple 'click' Competitive Cut off time: the payments in RON have a limit time more favorable for the client Multiple Reports: interim statements (intraday) and final (end of day) for current accounts, card accounts, and related timetable loan accounts Export / Import deals & excerpts: possibility of interfacing with accounting systems 5/30/12

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Volksbank mobile banking have the following properties::

Product type: Volksbank mobile banking can be accessed connected on every Smartphone with some of the mobile phone provider, using your Internet connection; Product safety: user name, password and token device in order to access the service and to sign the transactions; Particular customer segment: the existing customers of Volksbank Romania; Estimated number of customers in 5 years: 36.000;
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