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Managing Entrepreneurship, Innovation & Creativity

   

Added on  2021-02-19

12 Pages3416 Words71 Views
ManagingEntrepreneurship,Innovation & Creativity

Table of ContentINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3TASK 2............................................................................................................................................3.........................................................................................................................................................6TASK 3............................................................................................................................................61. Concept plan ..........................................................................................................................6CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11

INTRODUCTIONEntrepreneur can be defined as outcome of procedure which is applicable to creativity aswell as innovation for capitalising marketplace opportunities. Creativity can be defined aspotential of an individual which can led to intact invention. It is an entrepreneur who bringinnovation in business. An entrepreneur has creative skills which enables them to facilitateinnovation. In organisational context, facilitating innovation in business is very much crucial foregrowth as well as success of an enterprise. Innovation is the strategy which assist firm inincreasing sales and profitability. It helps an enterprise in gaining the competitive advantage inthe market.The report will include the story of an entrepreneur. Study will highlight the skills ofsuccessful entrepreneur. Assignment will emphasizes on analysing the way product launch after1999 are changing the method of working by an organisation.TASK 1Entrepreneurship is a process of establishing a business with the help of creatinginnovative ideas. I completed my graduation in Commerce and joined Business of my father. Ibelong to an entrepreneurial background as My father is an entrepreneur he operate a business ofrestaurant and variety of healthy & hygienic food to customers. Further, my grand father is also anentrepreneur he starts his own business at the age of 16. By working in my fathers business Ilearned so many business things. My Father is my inspiration and after getting inspired by father'sbusiness & entrepreneurial skills I am also thinking to start my own business. Thus, I am anentrepreneur and I am planning to establish my own business in local area of London named asCocktail and Champagne Bar. This business is my own idea and with this business I will offervariety of drinks as youngsters are more addicted to beverages this business will be profitable forme in near future. Further, non alcoholic beverages will be offered in this business so individual'shealth does not get affected. TASK 2Organisations & ProductsImpact of Changes in Organisations and Products Launched post 1999 on Workings.

According to (Weisburd and Braga, 2019), Development of new organisation is alsonecessary as new firms brings innovation & new products in market which in turn contributes toeconomic development. Number of organisation in United Kingdom are increasing due toEmergence of Entrepreneurship & Small Businesses.An organisation and business firm develop and modify its products & services inaccordance with consumer demand and recent trends in market. Emergence of new technologiesand ideas in market leads to an increase in profitability and market share of companies. Thus, it isuseful for business firms to introduce new products in market. Organisation are offering manyproducts at a time and they are mostly focuses on delivering products which are innovative. After1999 companies are focusing on implementing technology and automation in their products as thisminimises time and facilitate effective services. Google also make huge changes in its productofferings after 1999 with the changes made in requirements of organisations and customers. Google is a Multinational company offering technological products & services to manycountries across the globe headquartered at California, United States. Company started itsoperations in the year 1998 with Search Engine Services. This search engine is the most dominant& powerful search engine. After 1999 company make innovations and make expansion plans byintroducing more products in its product portfolio. In 2002 google launched news services withthat individuals can easily get recent news. After that company launched google books andentered in to the business of advertising and this is the most profitable service among all theservices included in product portfolio of Google, Product Development makes business of Google more profitable. Organisations andProducts offerings are changing after 1999 due to changes in technological factors. Further,organisations are introducing different technologies such as Electronic Monitoring System, Robotand Automation for that Google is developing more products in market. All these technologiespromoting better & faster services which in turn creates demand for products and services. As per the point of view of (Jensen and Lundvall, 2016), Nature of Organisational workis also changing which in turn changes product & service offerings. Technological Changes post1999 effect productivity and employment in organisations because with the implementation oftechnology employees working with in an organisation are expected to use new technology andmake innovation.

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