Concept of Innovation - PDF

Industry in Malaysia

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Critically analyse three individual founder characteristics that influence the success of their
business ventures.........................................................................................................................3
Discuss that how innovation affect the growth and profitability of new ventures......................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Leadership styles are based on the behavioural pattern that leader can adopt
and influence the behaviour of other people. It may provide the right direction to the
people those who were inspired with their style, attitude and behaviour etc. the
successful entrepreneur is adopting the national policies and procedures that can
discuss in the report. It is based on the national level that has some specific objective in
the business.
This report will discuss about the three different individual founder characteristic
those who always influence the success of their business. Furthermore, this report will
describe the concept of innovation and how they affect to the growth and profitability of
new ventures in global world. Moreover, this assignment will discuss about the national
policies in the organization because it help to improve the national innovative capacities.
It also gain the more benefits in terms of technology.
TASK
Critically analyse three individual founder characteristics that influence the success of
their business ventures.
There are three founder and successful entrepreneur those who were established own
organizations in global world. It also influence the new business venture to expand their
business all over the world.
Bill gates
Bill gates is the founder of PC software company which is Microsoft corporation and net
income of bill gate of $97 billion. It is the successful entrepreneur widely incredible as
one of the pioneers who revolutionized the personal computing industry.
Characteristic:
Leadership qualities of Bill gates:
After landing the billionaire, Gates become prideful and think he knows it all but
in some situations, he doesn't know about the actual conditions and they always putting
some efforts to improve the communication and public speaking skills (Lee, 2019). It
influence the success of business because it has communicated with their employee to
provide the details about the enterprise and encourage towards the development.

Having Vision and goals:
Bill gate is the man with full of vision that inspire other people to do something
creative and innovative of organization. They always wanted to hire a new engineer to
develop an effective products. He has an ability to reach their specific goals and vision.
Personal through Corner:
Bill gate is a great and sensible leader that always kept the positive attitude
towards the business development. Has has determined to make things work and
overcoming the obstacles. They are communicated with their employee and provide the
equal opportunities so that they can share the innovative idea regarding growth and
development.
Mark Zuckerberg
He is the famous co-founder and CEO of social media network Facebook. It is
the fastest growing organization to increase the popularity and demand in marketplace.
It has grown leaps and bounds (Villani, Linder and Grimaldi, 2018). Facebook also
acquired the social network and other application respectively.
Characteristic:
Confidence
It has learned many things through time and his start was the key building block
of success. He was developed their experience at the age of young and become one of
the most influential leader in organization (Banerji and Reimer, 2019). His confidence
inspire the people to understand their skill and knowledge for growth and development.
Confidence was key ingredient to his unbelievable growth or success.
Passionate
No one become a successful entrepreneur without knowing the passionate
power for his work. Zuckerberg always passionate towards for developing program
during high school. He was a passion for building games at the young age and now he
was developed Facebook social networking site in global world.
Critical Thinker
Mark Zuckerberg is great successful enterprise those who has a critical thinking
to implement new idea in their business. He was developed Facebook platform where
people can communicate with one place to another. He has interested towards the

issues and idea in the Facebook that make a differences. This critical thinking support
and influence the Zuckerberg to put some idea and also understand the need or
requirement of business.
Larry Ellison
He is the co-founder of oracle which based on the software company to maintain
the CRM databases with its recent acquisition of Net Suite.
Characteristic:
Persistence
It is a type of vital characteristic of successful Larry Ellison entrepreneur and they
never give up their dreams for building business. They are trying to maintain the self
confidence and achieve their goals or objective. Persistence nature support the Larry
Ellison to handle any type of situations, human errors and market conditions in
appropriate manner.
Strategic vision
Vision is a type of vital energy that drive the entrepreneur to connect with the
team and also explore the challenges, dare to keep pushing and determination of
success. Larry has an ability to establish own vision which provide the success . This
characteristic is helping the entrepreneur to understand the specific vision and they try
to achieve the goals and objectives. Strategic vision made by the entrepreneur on the
basis of their capability and ability in enterprise.
Passion to innovation-
Larry Ellison is mainly passionate towards the innovation and they are trying to
implement new innovative concept in the business development process. It help to the
enterprise for generating high revenue in marketplace. He must complete their work
passion so that they can enjoy their work what they were doing and also motivated.
This characteristic allows to Larry Ellison to put some extra efforts in the corporation
which can make a differences (Julien, 2018). At initial level, Larry face many problems
regarding the enterprise but its passion influence to handle any type of situation in the
business process. He easily overcome the roadblocks and forge ahead towards the
goals and objectives.

Discuss that how innovation affect the growth and profitability of new ventures.
Innovation is an essential for the sustainable growth and development of new
venture. Many companies are trying to achieve the competition advantage in order to
help them obtain the better and stable position in the global marketplace. It is the best
way for new ventures to achieve their specific goals and objective through innovation.
The new business to get more innovation as possible which necessary for them to
familiar with the different process of innovation and its principles (Ahn, Yoon and Kim,
2018). In modern economy, innovation is becoming important part in terms of growth,
creation and employment in market because it take place at the new venture, national
level. Innovation will help to lead the new venture as well to increase the
competitiveness in the existing business.
In today's world, New venture today act under the pressure by other enterprise
because they offers same type of product and services at affordable price. In this way,
customer who expect more and more product while new venter face conditions,
situations in marketplace. In order to growth and development, enterprise can use the
innovation process of transforming new knowledge, idea into the product and services.
Many successful entrepreneur has defined the innovation as an activity which lead to
new producing action in the product development.
There are different ways to affect the growth and profitability of new venture in
both positive and negative ways through innovation in marketplace.
Positive way:
 Innovation is a type of process and event that capture the idea about the
business process. It could set up the specific suggestions around the workplace
that hold the brainstorm idea to the company in daily basis (Rydehell, Isaksson
and Löfsten, 2019).
 It create an supportive environment at workplace which is the most important part
of new venture so that employee feel free to express their own ideas without
having the risk of criticism.
 The relationship between the economic growth and innovation are important
because innovation always bring new technologies and products that help for
global business. It is the best way to produce goods and services.

 The ability and capacity to create the economic value which is the most critical
part in terms of competitive growth of new venture. It become the best manner to
organize the resources to create, sustain and diffuse so that they directly impact
to increase the growth and profitability of new venture in global market.
Negative Way:
 The New venture has started the business but become more complex in term of
growth and development through innovation. Innovation may suffer when they
are taking decision based on the business activities. They have to go through the
several management layers (Hojnik, Ruzzier and Manolova, 2018). Innovation is
mainly succeeding the modern knowledge and economy.
 New venture provide the low paying job and generate less revenue for the
different level of government policy. It may chances of business failure through
innovation and cause widespread the economy.
 Innovation can introduce the efficiencies of new venture by spreading up the
processes and also replacing the human to use technology. In this way, it affect
on the business growth and profitability because many peoples are
unemployment. New venture cannot handle the right situation without employee.
Sometimes, it affect the new venture growth and development.

REFERENCES
Books and Journals
Ahn, S., Yoon, J. and Kim, Y., 2018. The innovation activities of small and medium-sized
enterprises and their growth: quantile regression analysis and structural equation
modeling. The Journal of Technology Transfer. 43(2). pp.316-342.
Banerji, D. and Reimer, T., 2019. Startup founders and their LinkedIn connections: Are well-
connected entrepreneurs more successful?. Computers in Human Behavior. 90. pp.46-52.
Hojnik, J., Ruzzier, M. and Manolova, T.S., 2018. Internationalization and economic
performance: The mediating role of eco-innovation. Journal of cleaner production. 171.
pp.1312-1323.
Julien, P.A., 2018. The state of the art in small business and entrepreneurship. Routledge.
Lee, B., 2019. Human capital and labor: the effect of entrepreneur characteristics on venture
success. International Journal of Entrepreneurial Behavior & Research. 25(1). pp.29-49.
Rydehell, H., Isaksson, A. and Löfsten, H., 2019. Effects of internal and external resource
dimensions on the business performance of new technology-based firms. International
Journal of Innovation Management. 23(01). p.1950001.
Villani, E., Linder, C. and Grimaldi, R., 2018. Effectuation and causation in science-based new
venture creation: A configurational approach. Journal of Business Research. 83. pp.173-
185.

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