Principles of Innovation and Entrepreneurship

This document discusses the principles of innovation and entrepreneurship and their impact on employee creativity. It explores the implementation of policies and techniques to increase creativity among employees and identifies factors that might hinder creativity. The document emphasizes the importance of fostering an inclusive and fun team environment, providing flexibility and freedom in work, training staff in innovation techniques, and encouraging breaks. It also highlights the role of management practices, lack of resources, lack of recognition, and lack of big picture visibility in preventing employee creativity. Overall, the document emphasizes the significance of innovation and entrepreneurship in driving employee creativity and organizational success.

Principles of Innovation and
Entrepreneurship
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Contents
1. INTRODUCTION.......................................................................................................................3
2. MAIN BODY SECTION.............................................................................................................4
2.1 Implementation of policies/ tools/techniques for increasing creativity among employees...4
2.2 Factors that might prevent the creativity of employees.........................................................5
3. CONCLUSION............................................................................................................................6
REFERENCES................................................................................................................................8
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1. INTRODUCTION
Innovation is considered as process in which innovative ideas, ingenious thoughts in form of
invention and method. It signifies the best solution to fulfil the innovative needs as well as
requirements. In context of Tesla, it is one the largest company which is located in Palo Alto,
California, U.S. This company was founded by Martin Eberhard in the year of 2003 which
provide vehicles to its customer in order to satisfy them. In addition to this, the major innovation
of Tesla is producing the electric car for the customer in order to gain competitive advantage
over rival firm. Apart from this, they make the innovative battery which helps in recharging them
in quick manner at affordable cost in order to attract the large number of customer. They provide
the digital electrical car to its customer at reasonable cost. It helps in increasing the success and
growth of business organisation in future period of time. It is necessary for the company to
provide unique and specific products as well as services to its buyer that helps in gaining
competitive benefits over rival firm at workplace (Hur, Moon and Ko, 2018). Apart from this, it
is necessary for TESLA to bring innovation in order to achieve leading position at marketplace.
They provide wide range of products and services to its customer for increasing their
performance level of company. In assistance of this, the innovation is necessary to increase the
sales and profitability level. Beside from this, Tesla brings innovation which involves digital
electric car in order to attract the ample of customer in an effective manner. Also, they produces
the Model S, it is the safest as well as fastest car on the road.
Apart from this, Tesla adopts the innovative technology in order to satisfy the customer at
global level. It is one of the superior quality electric car provided to its buyer in order to increase
their experience level. In addition to this, Tesla provides the car with the battery range of 265
Miles which is more than twice the rival firm. It helps in gaining competitive advantage over
rival firm at marketplace. Apart from this, Tesla new battery as well as charging technology has
given at a considerable lead in producing batteries at reasonable price and recharging in quick
manner (Lin, 2019). It assists in increasing the profitability as well as proficiency of the
company. Through the electric and hybrid car, Tesla is able to protect the environment form the
getting affected by the pollution. In relation with innovation in entrepreneurship, the principle
and technique plays a vital role in enhancing the employee’s creativity, motivation which leads
to high morale. Therefore, the innovation is necessary for the success and growth of Tesla. At
least, they bring the innovative electric digital car which helps them in protecting the
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environment which will be beneficial for growth and development of the company. In addition to
this, they provide safe battery to its customer in order ot retain them for a longer period of time.
It helps in increasing the brand image and reputation of company in front of customer in an
effective manner.
2. MAIN BODY SECTION
2.1 Implementation of policies/ tools/techniques for increasing creativity among employees
Creativity introduces to the act of turning imaginative and new ideas into reality. It is
characterised by the capability to perceive the world in unique way, to analyse hidden patterns,
to create better connections between apparently unrelated phenomena and to develop solutions
(Van Esch, Wei and Chiang, 2018). There are different tools or techniques or policies that would
be used by Tesla for increasing creativity among employees or in the workplace. Some essential
ways will be explained as below:
Fostering an inclusive and fun team environment: This is an effective and essential ways
that will be used by Tesla for enhancing creativity among employees. For example: A truly team-
based working environment in which relations are created via fun and collaboration that can
build real friendship that is essential for innovative teamwork. Along with this, inclusive and fun
team environment helps employees to provide innovative ideas and develop effective creation in
the organisation (Zhang and et. al., 2018).
Providing flexibility and freedom in how work is completed: The flexible work policy is
known to be more beneficial and essential. As it helps employees by increasing productivity and
cutting down transportation time as well as allowing them to maintain balance between their
working and personal life. In addition, this policy can lead to the creation of innovative skills that
allow employees to bring out an improved sense of creativity.
Train staff in innovation techniques: This is an effective and useful technique for Tesla to
analyse number of employees who does not have knowledge about the skills involved in
creativity problem solving. For this company must arrange training sessions by using different
techniques such as mind-mapping, lateral thinking and brainstorming. These are considering
main techniques in training sessions and helps employees by increasing their creativity within a
workplace (Wang and Tan, 2019).
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Fill workplace with sensory experience: Generally creative experiences arrive from
combining two apparently unconnected ideas. Cheering or encouraging the flow of non-sequitur
ideas or thoughts via sensory experiences can support workers to analyse new inspiration. As it
support Tesla to encourage creativity in their employees.
Providing training and learning opportunities: It is another great way through which
Tesla can easily encourage their employees to be creative is to provide them chances whereby
they are capable to learn how to do so (Jia, and et. al., 2018). There are some ways for doing this
such as lectures, hands-on lessons and training seminars. Therefore, with the help of these things
each employees of Tesla can be innovative and creative in their own work.
Encourage breaks: It is essential for an organisation to provide opportunity to their
workers to break their workday so that they can be more creative while enjoying job more. It is
also essential way for employees to enhance their creativity and innovative thinking easily in the
workplace of Tesla (Zhuo, 2019).
2.2 Factors that might prevent the creativity of employees
There are many factors that prevent the ability of employees to be creative in nature. In this
regard, the factors that must be considered by the management of TESLA to hold creative
workforce within an organisation are defined below;
Management practices: Explicit activities and practices from the part of board that
influence development incorporate permitting opportunity and self-rule in the act of work, giving
test, indicating clear key objectives, and framing work groups contained people with assorted
abilities and points of view. It is clearly understood from the point there is huge role of freedom
and challenging work in improvement of the creativity of employees (Miao and et. al., 2018).
Freedom allows the decision making while challenging work provides the opportunity to gain
knowledge about new aspects. Integrally, both provide an opportunity to build effective
personality.
Lack of resources: Assets are significant. They incorporate subsidizing, individuals, time, and
different instruments and materials. There should be sufficient assets to carry out the
responsibility. Unreasonable charts and no entrance to the base degree of assets would restrict
innovativeness of employees. On the other hand, the presence of large number of resources also
diminish the ability of an employees to be creative in nature because this will make the selection
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difficult and restricts the decision making ability to choose best alternative (Bessant and Tidd,
2015).
Lack of recognition: Everybody needs acknowledgment, and some of the time it is
overlooked from the side of authorities. Acknowledgment ought not be as monetary motivators,
or guarantees of advancements because it diminishes imagination and improve the probability of
uncooperative rivalry. Acknowledgment is most significant when it originates from peers, at that
point from the prompt team leader, and just finally when it originates from the CEO. So, if the
recognition of hard work and good performance is not received from the side of organisation side
then will diminish the trust of employees over working practices and create negative behaviour.
In future, the impact of same will be ascertained in the form of less creativity from employee’s
side (Six thinking hats, 2020).
Lack of big picture visibility: To be innovative, employees like to perceive how their piece
of the task fits inside the master plan of the entire venture, and how their prosperity (or
disappointment) would affect the organization. Presenting employees to the master plan offers
them the chance to impart assets and thoughts to different pieces of the extend and comprehend
the effect of their part in general achievement of an organization. It is considered as a solid
source of improving creativity. It is clearly visible from the point that organisation must focus
over the involvement of employees within organisational workings and objectives. If they don’t
do so then unable to improve the creativity of their employees (Campbell, 2019).
3. CONCLUSION
After a brief analysis of above report it is concluded that innovation and entrepreneurship
are two different concepts. In organisation, principles play vital role in business because they
guide to the right path so that objectives are achieved within a period of time. In the present
report, market research has been used widely so that there is deep understanding of employee
creativity, curiosity towards the work etc. Making personnel creative in workplace is difficult
task and time consuming. Also, there should be proper evaluation of techniques which are to be
applied within the firm so that members in enterprise deliver innovative ideas and thoughts. This
results in stability of the business for longer period of time. In this study, it has been examined
that entrepreneurship as well as innovation faces ample number of problems and this has deep
impact on employee creativity and curiosity of exploring more new opportunities. In entity,
policies and principles are necessary and to be followed with ethics so that goals and objectives
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are achieved in appropriate manner. Whenever, subordinates in the firm has some innovative
ideas there are some factors due to which they end their hide their level of creativity such as
scolded by superior, doubts and queries etc. In relation with this, organisation needs to be more
active and aware so that skills and knowledge are used properly within the firm. When it comes
to entrepreneurship, issues and challenges are to be faced in the process. With help of both
innovation and entrepreneurship, resources in market are used effectively. While conducting this
report, i realised that relationship between subordinates and enterprise has to be carried out in
appropriate manner so that both understand each other’s point of view regarding the mission and
vision. Also, my research skills and knowledge of marketing got improved and this motivates me
to be innovative in professional life. To unpin employees towards innovation and creativity it
crucial that two way communication is to be used in the enterprise so that success is achieved
and for growth and overall development. It is responsibility of the managers and leaders of the
firm to analyse and identify the personnel who is innovative and has the ability to face with
challenges as well as threats. This is achieved by implementing activities and training
programmes in the entities. Through this, manpower in the firm is used in effective manner. In
this, techniques are used for enhancing employee creativity in the enterprise. Manager of the
company make ensures that subordinates feel free to share ideas and thoughts within the firm.
This motivates subordinates in improving their creativity level and which leads to innovation.
Moreover, freedom of expression is to be developed in the enterprise so that business
environment in the firm remains stable and active towards its subordinates. Creativity of
personnel is essential because they help in changing the environment of business at wider and
broader level.
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REFERENCES
Books and Journals
Bessant, J. & Tidd, J. 2015 Innovation and entrepreneurship, Wiley, 3rd edition: Chapter 5:
‘Entrepreneurial creativity’.
Campbell, B., 2019. Practice Theory in Action: Empirical Studies of Interaction in Innovation
and Entrepreneurship. Routledge.
Hur, W. M., Moon, T. W. and Ko, S .H., 2018. How employees’ perceptions of CSR increase
employee creativity: Mediating mechanisms of compassion at work and intrinsic
motivation. Journal of Business Ethics, 153(3), pp.629-644.
Jia, J. and et. al., 2018. The continuous mediating effects of GHRM on employees’ green passion
via transformational leadership and green creativity. Sustainability, 10(9), p.3237.
Lin, G., 2019, July. Exploration of Innovation and Entrepreneurship Education for College
Students. In 2nd International Conference on Education Science and Social Development
(ESSD 2019). Atlantis Press.
Miao, Q. and et. al., 2018. How leadership and public service motivation enhance innovative
behavior. Public Administration Review, 78(1), pp.71-81.
Van Esch, E., Wei, L.Q. and Chiang, F.F., 2018. High-performance human resource practices
and firm performance: The mediating role of employees’ competencies and the
moderating role of climate for creativity. The International Journal of Human Resource
Management, 29(10), pp.1683-1708.
Wang, J. and Tan, Y., 2019. Social factory as prosaic state space: Redefining labour in China’s
mass innovation/mass entrepreneurship campaign. Environment and Planning A:
Economy and Space, p.0308518X19889633.
Zhang, S. and et. al., 2018. Empowering leadership and employee creativity: A dual‐mechanism
perspective. Journal of Occupational and Organizational Psychology. 91(4). pp.896-917.
Zhuo, S., 2019, January. Organic Integration of Innovation and Entrepreneurship Education and
Ideological and Political Education in Colleges and Universities. In 2018 International
Workshop on Education Reform and Social Sciences (ERSS 2018). Atlantis Press.
Online
Six thinking hats. 2020. [Online]. Available Through: <:
http://www.debonogroup.com/six_thinking_hats.php>
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