Enterprise Strategy Contents Contents 2 Introduction 3 Enterprise Culture in the Organization 4 Enterprise Culture Model 6 Networking for Small Firms 6 Case Study with an entrepreneur 7 Brief background of the entrepreneur 7 The business model 7 Idea of motivation to start the venture 8 The venture as of today’s date 8 Target segment 9 Difficulty faced for the starting of this venture 9 Business Performance in current times 10 Future of the venture in the upcoming years 11 Right working combination – a self motivated person, or a team of people working together 11 Role of the Entrepreneur within the Organization 11 References 13 Bibliographies 13 Introduction The world, today, is linked a…
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Change is inevitable and is the only constant factor that can keep on happening from time to time. Industrial environments change with time, courtesy to a number of macroeconomic factors like the buyer’s power, the influence of technology, political environments and most obviously the performance of the global economy (Grant, 2005, p. 272). To stay ahead in the global competition and sustain itself in the marketplace, global corporations as well as small and medium enterprises have to respond to these changing business environment and are increasingly trying to inculcate innovation among the products and services that they are offering to other business or to the end consumers. Product Innovation for companies offering products in the open market is very essential to survive in the competitive global war zone. Innovation can be radical or incremental in nature. A quick glance at the evolution of today’s highly popular digitized cameras will explain the two concepts in the most perfect manner. Radical innovation happened when old Polaroid cameras were replaced by companies with the highly advanced digital cameras. Companies to keep up with fast pace of consumer demands and in order to cater to whims and fancies of consumers, due to their increased buying power have started to have an entire division of Entrepreneurship and Innovation, which will be responsible for providing necessary innovations and modifications within the product offerings by staying within the boundaries of the organization or even trying to develop something on their own, which will be in line with the mother organization’s needs, requirements and objectives. Many a times, it has been found out by various studies that radical and even incremental innovations have happened on the shoulders of an entrepreneurship effort of someone within the organization or even outside the organization. Large corporations and even small and medium enterprises are increasingly encouraging entrepreneurship and motivating current or even ex employees of organization to don the hat of an entrepreneur and work under the company’s brand name, while developing, promoting and marketing their own brands or ventures. Even many a times, it has been noticed that ex employees of large organizations after working in the organization for a lot of years, and developing the required skills, insights and expertise leave the organization in an effort to do something on their own or even to pursue their hobbies or dreams, which people can identify as zeal of an entrepreneurship drive of the individual. Companies are increasingly recognizing employees, who are giving the extra effort to push things forward and trying to being a change agent. Basically, a certain clan of people in each and every organization, who generally put in the shoes of an entrepreneur within the job role, he or she is assigned to by the company. When these groups of highly self motivated people are willing to try something on
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