Innovation and Change Chantelé Shaw QHT1 Task 3 Innovation and Change Student # 000258452 6/15/13 1|Page Innovation and Change The Concept of Innovation in Business Entrepreneurs use innovation as a tool to exploit change and take that opportunity to show a new business style or service. Innovation can be learned and practiced as it is a discipline. However there needs to be a sense of purpose when entrepreneurs are searching for their sources of innovation. Once the sources are found they will need to learn how to successfully apply those principles. Business opportunities are chances to do things better and differently.
In doing so, Stonyfield must undergo challenges and carefully evaluate the best approach when entering the global market. This section provides the pros and cons of two globalization strategies that Stonyfield farm may apply while moving toward its goal of becoming a global enterprise. One strategy that may be applicable to Stonyfield farm is strategic alliance. Gareth Jones, in Organizational Theory, Design and Change outlined four dimensions of strategic alliance: Long term contract, Networks, Minority Ownership and Joint Venture. Each of these dimensions uniquely describes how two organizations can join in a partnership for hopes of accomplishing new and profitable business opportunities.
Justify your answer with reference to Novartis, Google and/or other organisations that you know (40 marks) Diversification can be defined as the practice under which a firm enters an industry or market different from its core business. This shows relevance in regard to a company’s corporate strategy, as it is the change in the company’s direction of business. The company is wishing to diversify their methods whether that is the product, market or service. A business strategy is the means by which it sets out to achieve its objectives, it can be described as a long-term business planning. The definition would describe growth as the process of improving measures of an enterprise’s success.
GRADED A Q#1: How may an entrepreneur determine a business venture’s success? Explain components of conducting a feasibility analysis. What element do you feel is most important? Provide examples to support your rationale. A business venture’s success is determined by the planning put into the process; a balanced execution of the process; the smooth running of the process and the financial prospect or accruement of the venture.
Hence it is a political organization. The company encourages initiatives and new inventions. In early stages, it provided maximum freedom to its employees to explore creativity. However, with the growing external competition and market demands, there is a recent need to address the customer demands. Competitor companies are forming strategic alliances with vendor companies to purchase components for the equipment’s.
Provide an example of your start-up and how it fits or does not fit within Schumpeter’s view. 3. What are the stages described in the model of the entrepreneurial process? What are the factors that give birth to a new enterprise and influence how it develops from an idea to a viable enterprise? 4.
Clients, to sell a company’s services and by researchers and not- for- profit groups to obtain funding for their projects. 3) What are the steps for inventing your proposal’s content? Define the problem, analyze the problem, and gather Information and sources 4) What are the three primary sources of information when writing proposals? Online, print and Empirical Sources. 5) What steps are involved with planning to solve the problem?
Case Preparation Questions 1. What is the role of corporate venture capital in corporate strategy? The role of Corporate Venture Capital (CVC) in corporate strategy is to finance the promising start-ups in order to acquire technologies or knowledge aligning to the strategy goal of CVC’s parent company. To be more specific, corporations set up venture capital arms primarily to nurture and develop start-up businesses for their parent company. In general, the payoff to the parent was strategic and typically involved either access to innovation or support for the viability of the parent’s business objectives.
What is so amazing about this is that GE has managed to sustain leadership in these markets for years. (Bartlett, Wonzy) Another one of GE’s strengths is their research and development departments that lead the way in innovation for our planet. GE has been the cornerstone for innovation for over the past century. This is because they employee over 36,000 scientists and technologists trying to find ways to solve the worlds problems. GE is consistently looking for partners that can help them move forward and further improve in a technologically advancing world.
According to Case (2010), perseverance was an especially crucial component of AOL’s early stages, and it eventually lead to its success. James Kouzes, a professor at Santa Clara University’s Leavy School of Business, believes that the five practices of exemplary leadership are modeling the way, inspiring a shared vision, challenging the process, enabling others to act, and encouraging the heart. He believes that a successful entrepreneur has to first be clear about a set of