...Innovation in Entrepreneurial Organizations The nature of entrepreneurial organizations is that they have the capabilities and competencies to create a culture of embedded behaviors that support the constant focus on identifying and subsequently taking advantage of profitable opportunities. In other words, they exist to find and take advantage of opportunities that have the highest potential return. Bateman (2010) states that, “…an entrepreneurial venture has growth and high profitability as primary objectives. Entrepreneurs manage aggressively and develop innovative strategies, practices, and products” (p. 238). Entrepreneurial organizations do this by being willing to try new things, challenge the status quo, and test out new processes. They encourage creativity, risk taking, and continuous learning and improvement. However creativity must then be harnessed and developed by innovation and it takes innovation to turn great ideas into something of value. Thus innovation should be considered fundamental to an entrepreneurial organization’s success. What then is innovation? Bruton (2012) says it well when he concludes that innovation is, “…a process of intentional change made to create value by meeting opportunity and seeking advantage.” (Innovation, para. 1). And although product innovation is a very important aspect of their business, it is only one area that entrepreneurs are interested and excited about. Rasmussen (2013) explains, “The very nature of innovation is changing...
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...------------------------------------------------- CASE 2-1 BMW Taps the Emerging Chinese Luxury Markets ------------------------------------------------- MAR 4503 Consumer Behavior FIU JEREMIAS CUADRA, CHARLES KETTEL Abstract BMW is one the largest automobile industries in the word, when you think of BMW you can surely say it's a high quality luxury car. The focus is to re-position itself in a new market. Which is the Chinese luxury market. How does a powerful company like BMW get ahead start in this un-tapped market with so much potential for growth? Leading to more global exposure and also more revenues. (JEREMIAS CUADRA) Q1. There is often a natural tendency to assume that in collectivist cultures such that in China, luxury products would not be popular. a. Explain how luxury products such as the BMW automobile might fulfill needs even within the traditional collectivist value set of China. I believe by growing this economy will give Chinese citizens more opportunity and more purchasing power to one-day own a luxury vehicle. Also social status is something that can represents that you’re doing well. I also believe it can lead to a showing off culture. b. Explain other factors that might be driving the desire for luxury in China. Well we all want what we can’t have, I believe that's human nature, but in China I other factors could play a role such as advanced luxury shopping experiences. More options would be available theirs a perfect gift for everyone...
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...three sociological key terms. The three applied sociological terms are ethnocentrism, innovation, and informal norms. The three sociological concepts are discussed relative to the video “Opie’s Hobo Friend”. It details parts of the video that relates to everyday survival. It also explains the difference in cultural living. The concept of ethnocentrism in Sociology is defined “the tendency to assume that one’s own culture and way of life represent the norm or are superior to all others”. In the video Officer Barney came in with a person the was at the freight yard that didn’t have any money on him. This shows that Barney feels you have money in your pocket to be anywhere around but...
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...September 2013 Mobile Learning: Transforming Education, Engaging Students, and Improving Outcomes Darrell M. West INTRODUCTION E Darrell M. West is vice president and director of Governance Studies and holds the Douglas Dillon Chair. He is founding director of the Center for Technology Innovation at Brookings. West’s studies include technology policy, electronic government, and mass media. ducation is at a critical juncture in the United States. It is vital for workforce development and economic prosperity, yet is in need of serious reform. American education was designed for agrarian and industrial eras, and does not provide all the skills needed for a 21st century economy.1 This creates major problems for young people about to enter the laborforce. Mobile learning represents a way to address a number of our educational problems. Devices such as smart phones and tablets enable innovation and help students, teachers, and parents gain access to digital content and personalized assessment vital for a post-industrial world. Mobile devices, used in conjunction with near universal 4G/3G wireless connectivity, are essential tools to improve learning for students. As noted by Irwin Jacobs, the founding chairman of Qualcomm, Inc., “always on, always connected mobile devices in the hands of students has the potential to dramatically improve educational outcomes.”2 This paper, part of our Mobile Economy Project, looks at ways that mobile devices with cellular connectivity...
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...Chapter 2: Success sustaining values Values – Company’s treasure 1. Excellence 2. Innovation 3. Respect 4. Joy 5. Integrity 6. Social profit 7. Teamwork Chapter 3: Leading with values Roles of Value driven leader 1. Articulating the dream – “reason for being”. Company’s aspiration and why are they important. 2. Defining organizational success – define and work towards your dream. 3. Living the values – to do what you believe in. communicating the values at work place. 4. Cultivating leadership – inspired leadership. Existence of middle managers who bring their leadership qualities that sustain success. 5. Asserting values at times of crisis – handling crisis. 6. Challenging the status quo – make things happen. Example Midwest’s CHIP. Perpetual innovation. 7. Encouraging heart – with caring and encouragement leaders uplift the spirits and kindle the energy of people at work who may be wearing down. Chapter 4: Strategic Focus I. A constancy of purpose – Firms benefit from a clear strategy. Core Values (Cant change) -> Core Strategy(rare change) -> Integrated sub strategies (frequent change) -> Execution(continuous change) Core Values – 1. Identify customers 2. Identify purpose 3. Undeserved market segments 4. Serve in superior manner 5. Focus on core strategy Products change, needs don’t! Integrated sub strategies 1. Competitive advantage and sustainable success some from entire...
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...complete due to structural problems, slower communication, lack of direct ownership of the project, and competing priorities among the functional departments (Pinto 47). The company is dealing with four main issues: 1. The products are slow to market 2. New innovations are passing right by WRU 3. Poor internal communications causing lost information "up the chain" 4. Department heads are blaming each other not taking responsibility What would you advise? What structural design changes might be undertaken to improve the operations of the company? If I was consulting for this company, I would advise that the company try to create a hybrid organization that is both functional and project centered. The company should invest in a new department, a PMO, that is only dedicated to acquiring and managing new projects. This would resolve the issue of the company letting new innovations pass them by. Pinto, Jeffery K. Project Management: Achieving Competitive Advantage, 3rd Edition. Pearson Learning Solutions, 7/2012. VitalBook file. (an instructor response) Finish Strong! Professor Earnshaw 5/10/2014 7:34:17 AM Class, our first week ends tomorrow so please make sure you post your information in the two...
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...resource is most useful in businesses. Lastly, I will create a list of leadership best practices. Hybrid Theory/ Philosphy 3 In creating a hybrid theory/ philosphy, I had to put a considerable amount of thought into it and the result was everything in business is driven by people. I will begin by definining what is considered to be the new definition of entrepreneurial leadership. According to Fernard and Soloman (2003), Entreprenurial leadership is one of an enterprising, transformational leader who operates in a dynamic market that offers lucrative opportunities. With this being said, to be successful starting a business it will take continuous innovation and creativity because the mindset has to be “what is good for our customers today, will not be good for our customers tomorrow” due to the expectation of our customers constantly changing. Next, as an entrepreneurial leader the main investment or ingriedient has to be in the people. The employee has to have trust in their leader in order to satisfy our customer in a timely manner, with the right product or service and better than any of the competitors can deliver. The employees have to feel appreciated...
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...business planning process. Both internal and external factors affect the management planning process. They include legal issues, ethics, and corporate social responsibility. Factors such as economic conditions, competition, and laws all influence the company’s strategic, tactical, operational, and contingency planning. According to Jim Albaugh, (2001), the difference between Management and Leadership is that managers tend to train people to do the same thing tomorrow as they did yesterday. Managers create an environment that prevents the opportunity for real progress. Managers operate within the existing system or culture instead of trying to change it. Their mantra is: "don't rock the boat" or "that's the way we've always done it." If that's what managers do, leaders, on the other hand, challenge people to do things better tomorrow than they did them yesterday. Leaders create an environment that encourages risk-taking and embraces innovation. Leaders articulate a vision, sense of mission and strategic direction for change. Rather than clinging to "that's the way we've always done it," leaders ask: "how can...
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...and worked on a single platform, such as Green Screen. They supported one entry point, such as Web, fax, email, or voice response units (VRUs). In such a straightforward environment, developing systems based on the needs of that one group of users, and on the functionality of that specific platform, made sense. Today, business -- and the technology that supports it -- is more complex. During a typical work day, you may access a corporate extranet and check your inventory status at a supplier's warehouse, participate in a Web-based corporate discussion group, or receive an email message via your mobile PDA. Electronic communication now takes place across multiple platforms and among multiple companies, widening and blurring the boundaries of the individual enterprise. You can no longer neatly define users and systems, making the traditional user- or platform-focused approach to enterprise architecture inadequate. How you receive services changes over time. Currently, the Web is altering the way you conduct business; tomorrow, wireless communication will be just as influential. But the core services themselves, such as selecting and paying for products, remain consistent. Therefore, enterprise architecture must focus on delivering those services effectively, without limiting the types of users or platforms. A Dynamic Enterprise...
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...globalDeveloping the Global Leader of Tomorrow SPONSORED BY Developing the global leader of tomorrow Contents I Overview of research . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 I Executive summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 I Chapter 1 Trends in the external environment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 I Chapter 2 The organisational response . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 I Chapter 3 Implications for knowledge and skills . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 I Chapter 4 The performance gap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 I Chapter 5 Sourcing and developing knowledge and skills . . . . . . . . . . . . . . . . . . . . 20 I Next steps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 I Case examples Unilever . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 IBM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Novo Nordisk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 BG Group . . . . . . . . ...
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...Internship Fair 2015 lse.ac.uk/careers Contents Start today. Change tomorrow. 1 LSE Careers can help you find an internship Our work impacts are the highest level of global business. We advise some of the world’s most important organisations on the issues shaping tomorrow. 3 Map 5 Participants 6 It’s the perfect environment for graduates who want to make an impact on business and their own careers. Find out more and apply ukcareers.ey.com/graduates Upcoming events Internship Fair Thursday 15 October 5.30-9pm Finance Industry Overview seminar Wednesday 21 October 1-3pm Telephone screening seminar Wednesday 28 October 1-3pm How to perform well in group exercises seminar Thursday 29 October 1-3pm Read your weekly LSE Careers enews and stay up to date on careers seminars, employers on campus, job opportunities and much more! Contact details LSE Careers is open: Monday to Friday 9.30am-5pm Thursday 9.30am-8pm Telephone: +44 (0)20 7955 7135 © 2015 Ernst & Young LLP. All Rights Reserved. Assurance | Consulting | Tax | Transactions SAW 5.02 (Saw Swee Hock Student Centre) 1 Sheffield Street London WC2A 2AP careers@lse.ac.uk lse.ac.uk/careers @lsecareers facebook.com/LSECareers This brochure was correct at the time of going to print LSE Careers can help you find an internship 2 Internships are a great way to gain experience and see what it’s really like to work...
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...business world dramatically since the 1800’s. Some have changed with the times and some have remained constant. Without these business management foundations having been established the Army may not exist as we know and understand it today. Leaders must not only understand these theories but know themselves, their responsibility and their soldiers to fully incorporate these theories while evolving with the times and changes in the working environment. Our reading material states that in the late 1800”s “Henri Foyal was one on the most influential contributors to modern concepts of management, having proposed that there are five primary functions of management: (1) planning, (2) organizing, (3) commanding, (4) coordinating, and (5) controlling” (Carpenter, Bauer & Erdogan, 2013, p. 68). This is also relative to the P-O-L-C framework which has survived the test of time and is used in business 125 years later. This basis is the foundation for running a successful profitable business. With that being said, managers must take this model and use it with innovation and creativity. The P-O-L-C does not only have success in the civilian business world but also in the military. I have now served for a total of 25 years and have been promoted to the rank of Master Sergeant/1st Sergeant. This is the same rank; the title just has different responsibilities. Growing up in the military and advancing through each rank I had to prove myself to the leadership that I could plan, organize...
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...one of many innovations such as, floating text, watches and cameras. In the next 20 years this technology could be used for all sorts of life advancements from telling you what you want to eat, detecting music that you are in the mood for or even heating and cooling your house depending on the weather outside. AR will change the way we live and the world as we see it sayshttp://www.howstuffworks.com/augmented-reality.htm. Presently designers are working on glasses that are connected to the internet and just by looking at a restaurant tell you what they serve, the history or anything you ask to know. Then the information is displayed across the lens as on a HUD ( heads-up-display). This is only a fraction of the possibilities; we already have smart refrigerators but, given time they will be able to tell us more so researchers hope. They hope to have algorithms advanced enough that ARs will know what we want to eat before we do by sensors from the devices you commonly have in your home. There are countless corporations looking into AR and the benefits from it some of them being; Microsoft, Google, Qualcomm, BMW, and many others. This technology will be almost everything we use or do. The only down fall that can come to ARs is computers not becoming advanced enough. The requirements for some of the AR programs will need a small super computer to run them. Super computers will need to be small enough to fit in the glasses or the phone or the ipod. Remember tomorrow you may have...
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...Economics Review List and describe the classification of economic systems based on allocation mechanisms * Traditional economy- you do what your parents do * ex: India in a way because of the caste system * Market economy- based on supply and demand, prices * Command economy- based on the government * Markets need homogenous goods, no barriers to entry or exit, perfect information and many buyers and sellers problem is that this is not the case, markets are not perfect List and describe the classification of economic systems based on forms of ownership * Capitalism- people privately own inputs (land, labor, capital) and will use them in their best interests more production more goods and services * Socialism- deals with ownership instead of allocation, distribution based on how much you work, etc., want to be more equal but isn’t efficient because government doesn’t work in same interest as private List and describe the classification of economic systems based on income redistribution and safety nets * Free markets * Maximum criterion- society equalizes everyone’s income, reciprocity- don’t know what will happen tomorrow * Pure communism- government distributes/allocates goods and services * Social safety nets (social market economies)- Germany-very large percent of income goes to taxes free healthcare with good quality * socialism- ownership of goods and services, communism—how goods and services are distributed List...
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...on many reasons which I would mention below. • Studies related to Water and Environment energy would help me acquire better future and personal growth as this is the requirement of our tomorrow, with energy production through fossil fuels is going to end as the resource of this energy production which is fuel is to eng and we need alternative solutions to produce energy and producing energy by Water is a clean energy which is environmental friendly. • My own interest lies in finding out new ways of producing cheap and clean energy, I have always been interested in solar power and hydrothermal power plants as they inspire me that there are many other ways to produce energy. I would like to see a carbon free world where breathing air is clean and pure. • Me as alone can do nothing to change this world as we all are dependant of each other. I may have ideas to produce clean energy but I also need resources to produce it. Masdar can help me pursue my dreams, Masdar and I can make efforts to bring up new innovations and technology. Reduction of carbon emission is my first priority and would like to work and gain knowledge from the faculty of Masdar about it. Admission into Masdar on scholarship would be an honour for me, I am fully aware that my past academic result is below your requirement but I definitely have the interest and passion to gain knowledge from an institute like Masdar. I would be very thankful to the institute if my application is considered for scholarship...
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