Change Management and Entrepreneurship - Assignment Example

Entrepreneurship involves the implementation of alternative ideas to develop a profitable business venture (Chapman, 2012). An entrepreneur should be able to conceive alternative ideas from time to time. Since opportunities are available for a specific period, entrepreneurs should be able to implement the most profitable alternatives and will vary as situations vary. Therefore, before any investment is undertaken, an entrepreneur should be able to regulate all available alternatives and then select the most viable from the available alternatives.

Quality and Improvement

            Innovation results in inefficiency in production both in terms of time-saving and resource utilization (EMAPLtd. 2010.) Skilled and creative individuals have different alternatives to producing commodities. They will apply the most effective approach in each situation thereby resulting in effective utilization of resources. For example, the utilization of automated telemechanism ATMs (ATM) in the banking system has resulted in to increase in the number of transactions completed in a day. This has resulted in n tremendous growth of the banking industry across the globe.

Team Building and Motivation

An excellent leader should establish a team through whom they will be working together. A team leader should be someone who can be able to coordinate all the members to achieve desired results (Team Building Leadership, 2006). Through interaction with the team members, the leader will be able to acquire significant leadership skills such as effective dissemination of information and the ability to mobilize human resources towards the achievement of the organization’s goals. The team leader will be able to obtain feedback from the team members and give responses to improve the performance. The team leaders should be able to reward the team members to give them the inspiration to work towards the achievement of the organizational goals.

Resistance Reduction and System Control

For effective regulation of the organizations, the leaders should engage all stakeholders both junior and senior members in the management process. Traditionally, leaders dictate the directive of the organizations (Ann, Marisha, and Jerry, 2009). They are not ready to accept the ideas of the junior staff. However, to ensure successful management of the organizations, the leaders should ensure all the stakeholders are fully informed of the changes in the management strategies. Generally, when leaders tend to exercise full power in running the organization, the other staff members become repulsive. Therefore, leaders should incorporate the views and opinions of all workers regarding the proposed variations that need to be implemented. In doing so, the leaders will make all the workers feel respected and a significant part of the organization. Therefore, directors will be able to exercise their influence with little hostility as long as they are engaging all workers in making resolutions for the organization. For example, if the leaders want to implement a new system, they should allow the workers to give their opinions about its significance and impact and then the leaders can convince them to accept the new change.