Start-ups and innovative entrepreneurship
Added on 2021-04-22
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Running head: ENTREPRENEURSHIP, INNOVATION AND START-UPSEntrepreneurship, Innovation and Start-UpsName of the University:Name of the Student:Author Note:
1ENTREPRENEURSHIP, INNOVATION AND START-UPSTask 1Entrepreneurship and Innovation are becoming increasingly important in moderndays, at all the areas of government and business. The entrepreneurial start-ups motivate theeconomy in indentifying new and innovative opportunities by redirecting the resources tothem. ABC Organization has decided to organize some events which include start-upweekends, hackathons and innovation events. For conducting the events, the company willhave to keep certain factors into consideration. Firstly, the company should have a well-planned policy, which is effective enough to deal with new challenges. Moreover, this willenable them to increase their service delivery along with the declining budgets for innovativethinking (Cobham et al., 2017). For organizing the Start-up weekends, the organization needs to take certain factorsinto consideration. The organization needs to hire an event manager, who will ensure fullattendee experience and give them a better idea of the overall plan. Ideally there should betwo lead organizers and around three to five members in the event management team. Thelead organizers should be fully prepared to hand over the responsibilities to their members.Sharing the workload will reduce the pressure on the organizers as well as the event manager.Moreover, it will help in reducing the things, which might go wrong (Munro, 2015). Organizing a successful hackathon event might require the organizers to prepare wellstrategies and on time. On the basis of the goals and event size, it is highly important to planthe whole work in a more precise manner. Moreover, it is important to calculate the overallbudget and plan the event in accordance with that. In addition to this, the event managersshould choose the correct venue and pick the theme. Furthermore, hackathon event is allabout attracting the most number of attendees and therefore, the planners should attract themaximum number of heads. Additionally, for the success of the event, the organization can
2ENTREPRENEURSHIP, INNOVATION AND START-UPSlook out for sponsors as well as secure prizes for more engagement of the participants(Müller, 2015).For the innovation events, the organization can also mix up their format of the event.Creating a buzz-worthy and unique event experiences is the best method of differentiating theevent. Sparking the imagination with innovative ideas of the event can bring in new crowdsas well as keep the attendees coming back. Moreover, it is important to maintain secrecy inthe events and spread the event ideas in order to make it a success. Furthermore, pushingthese ideas a step further will help in establishing the credibility as well as innovativeness ofthe brand (Iza, 2016).Task 2A successful entrepreneur should have certain entrepreneurial attributes, depending onthe type of events they organize. These qualities will contribute to their success and mostimportantly, the entrepreneurs are not afraid of delegating tasks, especially those who areextremely successful. It is important for the entrepreneurs to gain some useful insights inorder to achieve success, especially at the time of pitching or launching an idea (Cobham etal., 2017). It is immensely necessary for them to manage time in an effective manner. Propermanagement of time is highly important between urgent tasks and the ones, which can wait(Müller, 2015). Moreover, an effective entrepreneur needs to use a whiteboard or notebook in order toprioritize their tasks by jotting them down, from higher to lower level. Tables and mobiledevices have notepads and calendar; however, nothing is more efficient than an actual written‘to do’ list. It is important to focus on one work at a time and do not let the new ones disruptthe progress. In addition to this, the entrepreneurs need to knock the tasks one at a time.Furthermore, visualizing the goals as well as success is important (Mourik et al., 2016).
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