Entrepreneurial Learning and Innovation

The assignment focuses on analyzing the crucial role of team-level learning for developing innovation capabilities within technology-based ventures. It delves into the concept of entrepreneurial learning and explores how different learning mechanisms within teams contribute to the evolution of innovation in these organizations. The analysis draws upon relevant research and provides valuable insights into the dynamic relationship between team learning, innovation, and entrepreneurial success.

Monet Resorts
Table of Contents
Introduction.................................................................................................................................................3
List of Management Decisions....................................................................................................................3
List of Assumptions.....................................................................................................................................3
Information System (IS) and Information Technology (IT).........................................................................4
Issues covered in the Category of Information System (IS).....................................................................4
Issues covered in the Category of Information Technology (IT).............................................................5
Ways to Attract New Customers.................................................................................................................6
Exploration of New Business Opportunities................................................................................................7
Conclusion...................................................................................................................................................8
References...................................................................................................................................................9
2

Monet Resorts
Introduction
The business units and organizations have adapted to the idea of globalization, advancement and
digital innovation. These units are exploring new methods and mechanisms through which they
may serve their purpose of meeting the customer needs with maximum profits and revenues. On
the lines of the same idea, five holiday resorts have agreed upon the concept of a shared business
unit by collaborating with each other. These resorts have decided to execute the business
operations through a single entity which will be called Monet. The online presence of the
collaboration will be marked by a website and a mobile app and these two platforms will be used
for the execution of all the front end and back end activities for Monet.
List of Management Decisions
 A loyalty programme termed as MonetLoyalty will be designed to attain maximum
customer satisfaction and to maintain their engagement with the business organization
(Orlitzky, 2015).
 Interactive tools in the form of responsive web site and interactive mobile application
will be designed to maximize the user interaction and maintenance of transparency with
the users.
 Business integration of all the operations and activities at the front end and at the back
end will be made possible through the use and the implementation of an ERP solution.
 The customers will have the ability to manage their accounts themselves using a high-
level Web 4.0 medium which would also allow the customers to manage their details
(McBurney, 2015).
List of Assumptions
 The various terms of services that will be carried out jointly by the holiday resorts have
been planned, analyzed and finalized in advance and a legal contract has also been
prepared and signed by all the five parties.
 The functional aspects and the system qualities of the web site and the mobile application
will be the same (Popp, 2017).
3

Monet Resorts
 The set of expenses that will be necessary in the process of collaboration have been
estimated and finalized.
 The roles that will be carried out by the executives and resources at all the five resorts
have been determined.
Information System (IS) and Information Technology (IT)
Technology is an application of scientific and automated concepts and ideas for the execution of
a particular task. It is made possible by the involvement and collaboration of various elements
with each other. Two of such elements under technology are the information system and
information technology. It is often believed that these terms have the same meaning which is
however not true.
Information System or IS, is the quality and availability management of a specific set of
information. In order to manage the information sets correctly, it is required that the various
operations that are executed on these sets are adequately done. These operations can range from
viewing, modifying, updating, writing etc. on the information sets. The issues that may be
associated with these operations having an impact on either the quality or availability of the
information sets are the ones under IS issues and problems (El-Awad, 2017).
Information Technology which is normally abbreviated as IT is rather associated with the
technical aspect of information. The technical tools, technical infrastructure and applications,
technical services and their integration etc. come under the domain of IT. If there are issues
involved in respect to any of such technical components then such issues are included in the
domain of problems related with IT (Bruni, 2014).
Issues covered in the Category of Information System (IS)
 The quality or availability of the information can be impacted by the occurrence of
security attacks and risks as described below.
o Confidentiality Attacks
The properties of the information such as its confidentiality are an integral part of
the overall quality of the information. The occurrence of events such as breaching
or leakage of the information sets or any of its attributes can impact the
information quality as a result.
4

Monet Resorts
o Integrity Attacks
The information may get transferred and transmitted over a lot many networks
and networking components and there may be attacks that may result in the
violation of the integrity of the information (Chasserio, 2014).
o Availability Attacks
Availability of the information is an extremely significant property of the
information sets as the entire service may come to a state of breakdown in case of
information unavailability. Such a situation may be caused by flooding attacks.
 The end-users or the internal activities present within the application or a system may not
be in accordance with the best practices which may have a negative impact on the
performance.
 Ineffective communication may also lead to IS issues as the end result would not be as
per the expectations and specifications.
Customers are the entities that will be hugely impacted by the IS issues and their occurrence. It is
because the customers will be directly affected by any of such events. The customers would want
the services that are provided by Monet to be smooth, reliable and accurate. With the occurrence
of an IS issue, none of these parameters will be met. The customer experience will be poor and it
would be difficult for the customers to maintain the same level of trust and engagement with
Monet all over again in the future. This will impact the business side as well as their customer
base, market shares and brand image will come down.
Issues covered in the Category of Information Technology (IT)
 Monet is a business unit that will have its online presence via a website and a mobile
application. For the efficient working of these platforms, a number of technical
applications, services and operations will be involved. In case of a failure of any of such
component, the after effects will be negative (Antunes, 2014).
 The components may also suffer the compatibility and integration probelms (Secundo,
2017). In such an issue, the desired working of the web site or the mobile application will
be difficult to achieve and maintain.
The main entity that will have an implication due to the occurrence of the IT issues would be the
customers. It is because the customers will be directly affected by any of such events. The
5

Monet Resorts
customers would want the services that are provided by Monet to be smooth, reliable and
accurate. With the occurrence of an IT issue, none of these parameters will be met. The customer
experience will be poor and it would be difficult for the customers to maintain the same level of
trust and engagement with Monet all over again in the future. This will impact the business side
as well as their customer base, market shares and brand image will come down (Fengel, 2014).
Ways to Attract New Customers
There are various stakeholders that are associated with every business setup. It is necessary to
maintain stakeholder engagement with all the stakeholders so that the business aims can be met.
However, there is one stakeholder and entity that is involved with every business setup and it is
the customers. It is very important for business units like Monet to maintain and upgrade its
customer base to make sure that its hold in the market never drops down. In order to do so, there
are certain strategies that may assist Monet to achieve the same.
 The new customers or the customers that have not used the services of a business get
attracted towards it only when they see an offer that is of their advantage and the one that
is not being offered by any other business. Monet should adopt the strategy by offering
exceptional discounts at the time of first booking by any customers so as to maximize the
customer base.
 Social media platforms and networking mediums have took the market by storm in the
recent years. These platforms have made it possible for the business units and the
customers to directly stay in contact with each other without the presence of a mediator.
The business units can acquire customer data around their choices and preferences
through these platforms and customers can get to know about the latest offers. Therefore,
such platforms shall be used adequately and intelligently so as to market the business
offers and services correctly. A social media team shall be separately set up for the
execution of these activities.
 The data from different sources such as customer feedback, social media groups, market
channels etc. shall be captured and analyzed by the team of Monet. This data will provide
the exact demands of every customer group and the set of expectations of the customers
from such business units. The offers, services and strategies shall then be designed
accordingly (Wamba, 2017).
6

Monet Resorts
 There are customer groups that may have different demands such as backpacker groups
and family groups will have different expectations. The demands of all such groups shall
be met for providing a diverse range of services.
 Monet must use secure payment channels and gateways so that the customer trust is
maintained and the competitive edge is gained. There shall be no risks possible in the
areas of financial or electronic payments.
 Alerts and reminders shall be used intelligently to make the customers know about the
latest offers and services (Brocke, 2014).
 There are many off-beat and lesser known travel destinations that are being visited and
explored by the travelers and groups. The major issue in such locations is of stay and
meals. Monet must analyze such trending destinations and shall introduce the offers and
deals around these places.
Exploration of New Business Opportunities
There are endless opportunities that have been made possible for the business units to step into
with the emergence of cloud based services and platforms. There are virtual operations that the
business can perform and provide the services to the users without affecting the existing
structure. Monet must also continue to explore the new opportunities and must add the same in
its set of operations so that the customer base and revenues are maximized.
 Monet must collaborate and partner with some of the other tour and travel agencies to
provide the customers with an itinerary for their trip at subsidized rates at the time of the
booking. Custom itinerary along with the set of the popular places to visit in an area must
be highlighted.
 Similarly, there must be collaboration and partnership with the transportation agencies as
well so that the customers may select and book the desired mode of transport at the place
they will be traveling to (Giudice, 2016). Transportation is a basic requirement while
traveling in a new place. The modes of transport for sightseeing or visiting a particular
destination must be arranged and shall be allowed to be booked in advance.
 The data from different sources such as customer feedback, social media groups, market
channels etc. shall be captured and analyzed by the team of Monet. This data will provide
the exact demands of every customer group and the set of expectations of the customers
7

Monet Resorts
from such business units. The offers, services and strategies shall then be designed
accordingly in terms of new opportunities and capabilities.
 The customers that travel regularly and frequently must be provided with additional
benefits and services in terms of the offers and deals (Ferretti, 2016). In such a way, the
customer engagement with Monet will be maintained. Also, the customers will let other
individuals know about their experience which would allow Monet to have increased
business opportunities to be carried out.
Travel has become an escape route for the present generation to relax and get the minds
refreshed. It is because of the reason that the schedule of the people in the current times is very
busy and occupied. Monet must make sure that it works towards providing an integrated travel
experience and solution to the customers so that they do not have to worry about anything once
they finalize the booking. It should be efficient to arrange for the desired travel modes, places to
stay, places to visit, places to shop and eat and transportation arrangements for the customers.
This will ensure that the customer base of Monet is expanded and the better reviews are also
earned.
Conclusion
Five holiday resorts have agreed upon the concept of a shared business unit by collaborating with
each other. These resorts have decided to execute the business operations through a single entity
which will be called Monet. There are various initiatives and decisions that have been taken by
the management to provide the customers with required service. The customers would want the
services that are provided by Monet to be smooth, reliable and accurate. However, some of the
IS and IT issues can prove to be hurdles in achieving this aim. There shall be use and application
of adequate controls to prevent and detect such issues. It is very important for business units like
Monet to maintain and upgrade its customer base to make sure that its hold in the market never
drops down. It can be done through social media groups, discount deals and offers, specific
strategy making for customer groups etc. Monet must also continue to explore the new
opportunities and must add the same in its set of operations so that the customer base and
revenues are maximized.
8

Monet Resorts
References
Antunes, A. (2014). MUVE IT: reduce the friction in business processes, 20(4), 571-597.
http://dx.doi.org/10.1108/BPMJ-07-2013-0093
Brocke, J. (2014). Ten principles of good business process management, 20(4), 530-548.
http://dx.doi.org/10.1108/BPMJ-06-2013-0074
Bruni, A. (2014). Entrepreneuring together: his and her stories. International Journal Of
Entrepreneurial Behavior & Research, 20(2), 108-127. http://dx.doi.org/10.1108/IJEBR-
12-2011-0187
Chasserio, S. (2014). When entrepreneurial identity meets multiple social identities: Interplays
and identity work of women entrepreneurs, 20(2), 128-154.
http://dx.doi.org/10.1108/IJEBR-11-2011-0157
El-Awad, Z. (2017). Entrepreneurial learning and innovation: The critical role of team-level
learning for the evolution of innovation capabilities in technology-based ventures, 23(3),
381-405. http://dx.doi.org/10.1108/IJEBR-06-2016-0177
Fengel, J. (2014). Semantic technologies for aligning heterogeneous business process models,
20(4), 549-570. http://dx.doi.org/10.1108/BPMJ-07-2013-0085
Ferretti, M. (2016). Internet of Things and business processes redesign in seaports: The case of
Hamburg, 22(2). http://dx.doi.org/10.1108/BPMJ-05-2015-0079
Giudice, M. (2016). Discovering the Internet of Things (IoT) within the business process
management: A literature review on technological revitalization, 22(2), 263-270.
http://dx.doi.org/10.1108/BPMJ-12-2015-0173
McBurney, P. (2015). The Knowledge Engineering Review. Retrieved from https://www-
cambridge-org.ezproxy.csu.edu.au/core/journals/knowledge-engineering-review
Orlitzky, M. (2015). The politics of corporate social responsibility or: why Milton Friedman has
been right all along, 1(1), 5-29. http://dx.doi.org/10.1108/ASR-06-2015-0004
Popp, A. (2017). Enterprise & Society. Retrieved from https://www-cambridge-
9

Monet Resorts
org.ezproxy.csu.edu.au/core/journals/enterprise-and-society
Secundo, G. (2017). Entrepreneurial learning dynamics in knowledge-intensive enterprises,
23(3), 366-380. http://dx.doi.org/10.1108/IJEBR-01-2017-0020
Wamba, S. (2017). Big data analytics and business process innovation. Business Process
Management, 23(3). http://dx.doi.org/10.1108/BPMJ-02-2017-0046
10