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Corporate Innovation and Entrepreneurship Assignment - MatchBox Architects

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Added on  2020-11-23

Corporate Innovation and Entrepreneurship Assignment - MatchBox Architects

   Added on 2020-11-23

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Corporate Innovation and Entrepreneurship
Table of Contents
Corporate Innovation and Entrepreneurship Assignment - MatchBox Architects_1
EXECUTIVE SUMMARY.............................................................................................................1
INTRODUCTION...........................................................................................................................2
ANALYSIS......................................................................................................................................3
CONCLUSION................................................................................................................................3
RECOMMENDATION...................................................................................................................4
REFERENCES................................................................................................................................5
Corporate Innovation and Entrepreneurship Assignment - MatchBox Architects_2
EXECUTIVE SUMMARY
Innovation refers to modifying processes or developing effective products, ideas and
processes. In regards to business, it mean executing the new ideas, developing changing goods or
make improvement in available services. Innovation is helpful in make business successful.
Corporate innovation is regarded as profitable execution of the creative ideas. Firms engage in
the corporate innovation have dedicated teams towards efforts of innovation. Corporations have
proven to immensely successful at the advancing models of existing business. Entrepreneurship
refers to an activity of setting business, taking financial risk in hope of profit. It is procedure of
design, launch and also run new business. People which start or run new business are known as
entrepreneurs. Entrepreneurship is characterised through risk taking and innovation. It is
necessary part of ability of nation to succeed in ever modifying as well as enhancing the
competitiveness at market place. Willingness and capacity to create, organise and manage new
business venture with taking risk in context to generate profit. Corporate entrepreneurship is
procedure used to create the new goods, business and services inside existing firms in order to
develop value and also earn profit by entrepreneurial actions. This project is related to the
corporate innovation and entrepreneurship. This present report is based on MatchBox Architects.
This assignment is made through firms which might be orchestrate the organisational systems to
support or barrier innovation, creativity, manage change and corporate entrepreneurship. There
will be discussion about the challenges as well as opportunities as company develops in size. In
this assignment mentions about different theories which assess in measuring the capabilities and
ideas of company. After the whole discussion, there will be requirement to provide suggestion to
business firm. Recommendation helps in give positive ways to achieve growth or development of
company in an efficient manner.
1
Corporate Innovation and Entrepreneurship Assignment - MatchBox Architects_3
INTRODUCTION
Innovation refers to translating an invention or idea in to service or products which
develop value for consumers. An idea should be replicable at economical cost and also should
fulfil particular requirement. Innovation consists application of information, initiative and
imagination in deriving various values from the resources. An innovation can be viewed as
application related to better solutions which meet with new needs, existing market requirements
and unarticulated needs. It involves all processes through which new thoughts are generated and
also converted in useful goods (Amore, Schneider and Žaldokas, 2013). Corporate innovation
can explained as procedure of company executing new innovation related opportunities in to
current business models. As start up businesses are enhancing out perform their corporate
counterparts, so it is necessary for the exiting firm to embrace model of corporate innovation. An
entrepreneur is a person who undertakes creation, ownership, company and also risk of business.
Entrepreneurship is an act of developing business while creating along with scaling it to make
profit. It plays a vital role in economic development by expand business at global level.
Corporate entrepreneurship is set of development and innovation. It gives systematic review of
processes, environment and resources which are required to motivate, engage and support
company in entrepreneurial action or thinking. Firms with better entrepreneurial orientation
perform in better manner. They attain high development, innovation, financial returns and
productivity. Corporate entrepreneurship is an art of developing innovative thoughts with in
corporate and also materializing to generate profit. Entrepreneurs are well known as innovators
because they do change world around them by creating new ideas.
Organisational culture refers to system of shared values, beliefs and assumptions which
governs how persons behave in company. It encompasses behaviours and values which
contribute towards unique psychological and social environment of company. Each business has
corporate culture that ingrained in its operations. It is invisible force that develops shared values
and attitudes between its workforce. Improvements in organisational culture helps in
continuously solve issues in better manner (Chaston and Scott, 2012). It may need better cultural
change as well as organisational shake-up by behaviour setting and orientation. Organisational
climate refers to subject to the change and can shaped through top management of company. It is
easier to experience the organisational climate. It reflects existing atmosphere of company under
which staff members work. Organisational climate plays a necessary role in innovation of
2
Corporate Innovation and Entrepreneurship Assignment - MatchBox Architects_4

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