Business Environment Innovation and Entrepreneur

Running head: BUSINESS ENVIRONMENT INNOVATION AND ENTREPRENEUR
Business Environment Innovation and Entrepreneur
Name of the Student:
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1BUSINESS ENVIRONMENT INNOVATION AND ENTREPRENEUR
Table of Contents
1. Introduction............................................................................................................................3
2. Discussion..........................................................................................................................3
2.1. Market Domain...............................................................................................................3
Historical Significance.......................................................................................................3
Factors that contribute to the obsolescence or dissolution of notable companies in the
selected market domain in the recent past..........................................................................4
Impact of the factors...........................................................................................................4
2.2. Competitive Readiness....................................................................................................5
2.2.1. Internal analysis.......................................................................................................5
2.2.2. External Analysis.....................................................................................................7
2.3. Opportunities and Trends................................................................................................9
a) Intrapreneurial Opportunities for the company..............................................................9
b) Entrepreneurial opportunities for the company...........................................................10
Conclusion................................................................................................................................10
References:...............................................................................................................................11

2BUSINESS ENVIRONMENT INNOVATION AND ENTREPRENEUR
1. Introduction
The Business environment in the contemporary world is changing for various
different reasons including technological advancements, digitisation, competition among the
rivalries, political upheavals, changing consumer behaviour and patterns etc. (Teece, 2018)
This is why business managers today need to recognise first and then react to these changes
for ensuring the profitability and survival of their companies. The chosen market domain for
this assignment is child care. This report shall elaborate on presenting a brief environmental
analysis of this domain with special emphasis on the company named Langley child
Development Center, Langley, British Columbia, Canada. Finally, it would evaluate the
trends that are relevant to the business environment of this company and the market domain
from which it belongs. This paper would be divided into three different segments- analysis of
the market domain, competitive readiness of the company where internal and external factors
that are pertaining shall be evaluated and finally, assessment of trends and opportunities.
2. Discussion
2.1. Market Domain
This section of the paper shall evaluate the current business environment of Childcare sector.
Historical Significance
- The very first crèche (program for toddlers and infants) was opened in the year 1844
by Firmin Marbeau in Paris. It was recognised by the French government 25 years
later in the year 1869 (Caroli, 2017). Day cares or child cares were originated in
Europe during the late 18th and the early 19th century. By the end of 1850s, they were
established by the private charities in the United States. One of these private charities
include Charity Organization Society founded by Ansley Wilcox. It is also to note that

3BUSINESS ENVIRONMENT INNOVATION AND ENTREPRENEUR
the child care centre called Fitch Creche in the Buffalo city of New York is regarded
to be the first ever day centre for the working mothers in America.
Factors that contribute to the obsolescence or dissolution of notable companies in the
selected market domain in the recent past.
- According to Coontz (2016), about 58% of the families present in United States of
America had both their parents working outside. Although this suggest that there is a
very strong market for child-care industry and companies, still, parents are less
interested in admitting their children in day cares due to the various different cases
like child abuse, health problem etc. seen in America. The factors that are contributing
to the obsolescence or dissolution of notable companies in the selected market domain
in the recent past include staying healthy, trust and incident reporting.
Impact of the factors
- Staying healthy- Small children often carry viruses and germs and they rarely cover
their mouths while sneezing or coughing. This is why companies need to have some
proactive policy against contagious diseases in the centre as this is not only important
for their health but also lose the customers if parents starts perceiving that their
policies fail to decrease the risk.
- Trust- The trust of the parents in the safety of their children under the child care
centres are decreasing. A single incident of failure in locating the parent’s child
during their arrival can cost the centre a customer (Britto et al., 2017). It also have the
potential to damage the business reputation. Also failing to notice the families of lice
and any contagious disease can also hamper the reputation and cause the parents to
question the seriousness of the centre towards the well-being and health of the
children.