Reasons Entrepreneurial Organizations Seek Opportunities for Innovation - Essay Example

The need is to pinpoint where anomalies are and how best to get rid of them. The aspect of newness must not appear as a deterrent towards completing tasks in an able and effective way. This is the need of the hour as far as the entrepreneurial organizations are concerned and more so today. The second reason belongs to the employees since they are not well aware and require new avenues for help and assistance as far as their work manifestations are related. As they are a part of an entrepreneurial organization, they might not be at ease with a number of work tasks that other employees from varied organizations are already educated about (Prabhu, 1999).

Hence innovation helps their cause to move ahead with full throttle and at breakneck speed. The employees must be trained and if this training does not come about under the aegis of the entrepreneurial organization, they could be sent off to other training institutes or organizations so that when they come back, they are well aware of how entrepreneurial organizations essentially work and what is expected of them in the long run. The third reason why entrepreneurial organizations require innovation is that they have to follow the footsteps of their competitors which could both be huge organizations as well as small companies.

The need is sought to compare the domains of this entrepreneurial organization with these other business regimes to solicit success within their own realms. If the competitors are far ahead of these entrepreneurial organizations, then this means that the latter has to make amends, and for that, they must go to any limit to make sure that their progress and development are manifested in a proper manner (Ruef, 2005). The need is to decipher the true essence of innovation more than anything else.

The fourth and last reason why entrepreneurial organizations would like to have an opportunity for innovation surrounds how they want to explore the advancements that are coming about within the fields of technology and which remain much pertinent towards their own business settings. The advancements are happening at a rapid pace and it is only natural to stay one step ahead of them. However, with the resources being unavailable or minimal at times, this is always a tough task for many entrepreneurial organizations in this day and age to do the catching up.