Assessment on Entrepreneurial Process
3 Pages540 Words115 Views
Added on 2020-05-08
Assessment on Entrepreneurial Process
Added on 2020-05-08
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Table 3 for Assessment 3: Entrepreneurial Process Case, Bricolage approach*BRICOLAGE BEHAVIORSYes/ NoEvidence in available dataTook action to solve problems instead of questioning whether a workable solution could be found (making do)YesQuestioning for the probable solutions rather than initiating taking action willbe more effective. This is due to the reason that, questioning and determining the probable solutions from various stakeholders will take muchtime along with origination of diversified theories and approaches (P:1022). Thus, without determining for the probable solution, it is better to initiate an action. Afterwards it can be seen whether the action is proving effective or not. Accordingly, the action can be modified. Combined existing resources for new purposesYesInnovation refers to not only to the initiation of new products and approaches but also combining and modifying the existing resources for a new purpose (P:1036). Thus, in the case of the using existing resources for new purpose, the cost of sourcing new resources is reduced. Thus, it will lead to the lower cost of production for the organization. In addition, using the existing resources for new purposes also helps the organization in reducing the need for new infrastructure being required for innovation of new products or business approaches.Repurposed resources for use different from use resources originally designed forYesThe flexibility of the resources should be more in order to increase the alternative uses of them (P:1036). This will help the organization in reducing the waste and byproducts from their production process.The alternate use will be there for the resources, the less will be the cost incurred by the organization in sourcing of raw materials. Used existing resources instead of developing new onesYesWith the increase in the alternate use of the resources, the use of existing resources will be more compared to the development of new ones.Thus, the cost of production process will be lower.The cost incurred in developing new resources will also get lowered. The cost incurred in increasing the alternate use of the existing resources willbe lower compared to the new ones.Used forgotten resources or those others saw as YesUsing forgotten resources or being perceived as little value is being used in
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