Corporate Entrepreneurship and Innovation at Boston Consulting Group

This report critically analyzes Boston Consulting Group's (BCG) corporate entrepreneurship initiatives, innovation management practices, and ability to spot innovative opportunities. It evaluates the impact of intrapreneurial activities on innovation leadership and competitive advantage, examining how BCG fosters a culture of innovation and manages its innovation processes. The report assesses BCG's strategies for identifying opportunities, managing innovation, and learning from both successes and setbacks. By exploring BCG's approach to creating a safe space for innovation, enabling organizational agility, promoting collaboration, and celebrating achievements, the analysis provides insights into how the company blends digital and human capabilities to drive innovation and achieve long-term sustainability. This document is available on Desklib, where students can find a wealth of study resources, including past papers and solved assignments.

Opportunity, innovation and
Entrepreneurship
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY ..................................................................................................................................3
Critically analyse and evaluate corporate entrepreneurship (entrepreneurship or
entrepreneurial innovation) initiatives in the company of your choice. What impact do these
activities have on innovation leadership and overall competitive advantage? ...........................3
Critically analyse and evaluate current innovation management practices in a company of
your choice to meet innovation challenge through innovation and entrepreneurship. ...............5
Evaluate a firm’s propensity to spot innovative opportunities (support your analysis with
examples). What do you conclude regarding its entrepreneurial ability and strategy to search
for opportunities, manage the innovation process and learn from it?.........................................7
CONCLUSION................................................................................................................................8
REFRENCES ..................................................................................................................................9
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INTRODUCTION
Entrepreneurship is the process which gives space to new ideas that has been developed in
order to enhance business activities by making professional development possible within an
organization. Through entrepreneurship demand of customer increases by earning profit and
revenue for an organization. The entrepreneurs are considered as backbone existing within
economy making operations of business conducted more effectively by generating revenue and
jobs more effectively. In an country local people is able to raise there living standards by
introduction of new business within society as it provides with employment opportunities
making basic income earn for particular aspect. The entrepreneur open organization over new
small and medium sized business that provides support with economic development in a country.
In this report the selected organization is Boston Consulting Group partners established in they
year 1963 and has it headquarters in UK. The report is based upon innovation and opportunities
generated from it.
MAIN BODY
Critically analyse and evaluate corporate entrepreneurship (intrapreneurship or entrepreneurial
innovation) initiatives in the company of your choice. What impact do these activities have
on innovation leadership and overall competitive advantage?
Entrepreneurial ventures has been developing itself with faster pace that covers wider
scope within market. They made contribution done with development and economic gathering
making profit and revenue generated more effectively(Collins and et. al., 2017). The
organization development makes fluctuation existing in economy with better organizational
perspective. This lead upon forming framework for developing base to grow for new business
within market. Corporate entrepreneurship means term that has been used over describing
entrepreneurial behaviour which makes establishment possible of medium and large
organizations. These terms are based upon organizational entrepreneurship, entrepreneurship,
corporate venturing and strategic entrepreneurship. This is based over making firm engaged
within various strategies which has been used over developing new organization more
effectively. In co prate entrepreneurship various kinds of aspects has been used which makes
business and ideas related to it enhanced more effectively. Through corporate entrepreneurship
business is able to develop innovation within them which makes business improved more
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effectively. Entrepreneurship is able to make various perspectives of business improved more
effectively. The concept leads towards making business enhanced more effectively. Through
entrepreneurship new and innovative ideas of business is developed which makes different
aspects in relation to social and economic development possible. The corporate entrepreneurship
makes various kinds of perspectives in relation to business achieved more effectively.
Entrepreneurship of corporate nature deals with aspects such as:
 Employment opportunities: Small business and start-ups provide job to local
employees. As small business and business start-ups make people work in more effective
manner. Small business makes contribution done towards bringing growth and innoavtion
for its employees(Brush and et. al., 2019). This leads upon stabilizing economic growth
of an organization making it grow within market. Many organizations are developed
upon small business which creates job opportunities helping upon reducing percentage of
unemployment. The skill and knowledge of an individual is able to enhance business with
more effectiveness. Through making better environment job opportunities is generated
with various segment of market. Both small business and start-ups uses strategies over
attracting individual for working in respective organization.
 Contributing to local government: The consumers makes purchase possible with local
small businesses that has been making money given back to community. The small
businesses and business start-ups generate high amount of revenue that means they pay
higher percentage of taxes. The small business and start-ups business pays tax to
government like GST, property taxes, income taxes etc. It helps in increasing the tax
bases.
 Innovation: The main factor of economic development is based upon small business and
business start-ups implementing innovative idea with best mechanism over
commercialising technology. This make contribution done with quick development of
new technology and innovation has helped over enhancing productivity of small business
and start-ups. This makes contribution done by making economy growth through
developing new techniques over ideas and products. It helps government over fulfilling
its objectives and goals. It plays important role within economy of state Innovation leads
upon making sure over product produce by quality within it.
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 Living standards: Small businesses and star-ups job creators over providing jobs to
people and bring employment growth or innovation. The people makes job to be attained
by having money over fulfilling their own needs. The money fluctuate over market
dealing making positive perspective achieved more effectively. People get job which
make money to fulfil its own needs which makes money fluctuate within business dealing
in effective manner. Through increasing job opportunity. Thus they makes living
standards high helping in enacting business more effectively.
Through these perspective corporate entrepreneurship through such aspects various kinds
perspectives are covered that is based upon making business operations taken to new level which
makes innovation get emerged within business operations making business activities conducted
more effectively. Under entrepreneurship leaders should used innovation an involve management
within business activities that leads upon developing better understanding about market with
better approach(Boohene and Agyapong, 2017). In relation to Boston Consulting Group partners
leaders are able to tackle business activities which made competitive edge achieved for the
organization. BCG developed business strategy by including innovation making issues solved
more effectively. Leaders of BCG was able to develop beneficial relation with its customers that
opened the way towards long term success of business. Innovation has helped in enhancing
nature and creativity which made design developed in more effective manner. Leaders of BCG
made business activities deal upon current trends making business activities deal with more
effectiveness. Thus innovation has helped in achieving various aspects which makes BCG
achieve its targets more effectively making business grow within market. Through BCG all
targets are achieved making objectives accomplished on time creating long term sustainability.
Critically analyse and evaluate current innovation management practices in a company of your
choice to meet innovation challenge through innovation and entrepreneurship.
Innovation is an important perspective which is used for developing strong management
practices which makes business develop in more effective way. Through innovation all
management performance is improved which makes business management operations conducted
more effectively. Innovation within management makes start-up perform management operations
with positive approach. In relation to business operations management with innovation helps
upon developing discipline with aims that is drive over making sustainable innovation process
with culture within an organization. Innovation management practices has been defined over
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making organization manage process that leads over making innovation used more effectively.
The organization is based over various kinds of practices which makes delivery of goods done by
improving performance. Innovation leads towards business development making business
activities enhanced more effectively. Further, encouraging of innovation makes management
proceed over developing new products, reducing costs and enhancing process in significant
manner. Innovation with management helps upon understanding risk factors and developing
better solutions in relation to it. This makes market competition handled in more effective way
and managers of an organization is able to improve process of an organization. In relation to
organization like BCG being new organization its entrepreneurial strategies related to
management has been enhanced through innovation. It made changes possible in more effective
way that has been discussed as follows:
 Create a safe space for innovation: BCG has been investing over creating better
business environment that leads upon innovation to be made by calculating risk through
managing operations. Innovation is safe as BCG is able to make new ideas developed
more effectively.
 Enable organizational agility: This is most innovative perspective of an organization
that makes job definition and flexibility developed within market place(Batarseh, 2021).
It makes organization adopt changes required to be developed within marketplace.
Through eligibility BCG has been able to create more effective employment strategy
which makes business enhance its performance more effectively. Through innovation
ideas has been developed upon designing technology which is able to solve issues related
to health and safety at workplace.
 Promote and reward collaboration: The eccentric lone scientist toiling away in his lab
may be the poster-child for inventors, but studies have shown that the vast majority of
important innovations actually spring from collaborative, team efforts. BCG is able to
enhance business operations making through providing innovative rewards to its
employees which makes them more productive in nature. This make product and services
quality improved and leading towards customers satisfaction by fulfilling needs.
 Celebrate success and learn from setbacks: BCG has made essential development of
other organizations making innovation improve performance by attaining learning with
knowledge upon skills used within an organization. Innovation has added greate value to
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an organization making organization deal with various perspectives of an organization.
BCG has lead towards making success achieved by an organization.
These are important aspects which is related to use of innovation and management which
has helped organization like Boston Consulting Group partners is able to blend digital and
human capabilities brought with deep industry and function with range of perspectives making
changes to be brought by managing technology and design prepared as per corporate and digital
venture which makes purpose of management department fulfilled more effectively. This makes
collaborative model of an organization generate better results which has been able to make
success achieved for an organization like Boston Consulting Group partners.
Evaluate a firm’s propensity to spot innovative opportunities (support your analysis with
examples). What do you conclude regarding its entrepreneurial ability and strategy to
search for opportunities, manage the innovation process and learn from it?
Innovation is based upon creating new products and services for an organization making
product developed more effectively(Barnard, Pittz and Vanevenhoven, 2019). This brings
changes within an organization leading upon creating innovation in more effective manner. An
organization requires over staying relevant over needs that has been satisfied through innovation.
Also innovation is an important aspect which makes business grow with faster and better pace.
Boston Consulting Group partners requires to cultivate innovation then eight ways is required to
be followed that has been given as follows:
Engrave a culture for innovation
This makes employees develop percentage from time which makes something innovative
to be done over choice. It makes support to be created over making people feel free and express
ideas through criticism.
Allow time for research
This makes empowering of employees making research performed and report over new
technology development. Research is based upon conducting trends, competition, customer
frustration and industries.
Remove the fear of failure
This makes innovation developed upon making innovation developed more effectively
which leads upon reducing risk which is biggest achievement for using innovation with positive
perspective.
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Appoint influencers
This is based upon motivating an employee that is based upon innovating produced in
relation over promotion of an individual.
Create a reward system
Reward innovation is one of the most important perspective which is used for motivating
employees more effectively.
Recruit creative and imaginative people
This is use for developing various aspects that is based upon qualification helping in
developing culture within an organization.
Set training programmes
Training has been willing to make new ideas and develop employees perspectives more
effectively. Such aspects leads upon gaining experience and approach towards skills
development more effectively.
Turn the workplace into a creative environment
This is based upon making employees feel refreshing and stress free which is based over
enclosing environment more effectively.
These steps are used by organization like Boston Consulting Group partners to make
innovative aspects emerged within its process which makes organization achieve its goals more
effectively. Through innovation workplace and culture is improved more effectively making
business enhance its working process. Innovation is applied by using these steps since they cover
all departments and elements of an organization.
CONCLUSION
From the above discussion it can be concluded that innovation is an effective process
which is used by leaders for developing organization with overall perspectives. Through
innovation leaders are able to develop motivation and productivity of employees making
organization achieve long term success. Innovation is an important part of entrepreneurship as it
makes new ideas and ideologies stabilized more effectively. Innovation impacts management
department of an organization making business improved more effectively. In this report thinsg
covered is related with innovation and entrepreneurship, leaders and innovation with
management and innovation.
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REFRENCES
Books and Journals
Anggadwita, G and et. al., 2017. Socio-cultural environments and emerging economy
entrepreneurship. Journal of Entrepreneurship in Emerging Economies.
Barnard, A., Pittz, T. and Vanevenhoven, J., 2019. Entrepreneurship education in US community
colleges: a review and analysis. Journal of Small Business and Enterprise Development.
Batarseh, I., 2021. IEEE Empower a Billion Lives: An Opportunity for Innovation and
Entrepreneurship [Entrepreneur Viewpoint]. IEEE Power Electronics Magazine, 8(4),
pp.12-14.
Boohene, R. and Agyapong, D., 2017. Centre for Entrepreneurship and Small Enterprises
Development, University of Cape Coast (Ghana). In Entrepreneurship Centres (pp. 125-
139). Palgrave Macmillan, Cham.
Brush, C and et. al., 2019. A gendered look at entrepreneurship ecosystems. Small Business
Economics, 53(2), pp.393-408.
Collins, J and et. al., 2017. Indigenous culture and entrepreneurship in small businesses in
Australia. Small Enterprise Research, 24(1), pp.36-48.
Doktor, R. and Bui, T., 2018. The symbiotic relationship of entrepreneurship and information
technology. Int. J. Entrepreneurship and Small Business, 33(4), p.467.
Farinha, L., Ferreira, J.J. and Nunes, S., 2018. Linking innovation and entrepreneurship to
economic growth. Competitiveness Review: An International Business Journal
Huynh, T. and Patton, D., 2018, November. Dynamic Capabilities of Management Teams,
SME’s Competitive Advantage and Performance: The Role of Gender Diversity.
In Research in Entrepreneurship and Small Business: Sustainable entrepreneurship: A
win-win strategy for the future.
Jones, R and et. al., 2018. Entrepreneurial marketing in small enterprises. In The SAGE
handbook of small business and entrepreneurship (pp. 297-320). SAGE Publications
Ltd.
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Mishra, G.P., Mishra, K.L. and Mishra, R., 2018. Leadership, Organizational Effectiveness and
Entrepreneurship in Small and Medium Enterprises-A Study in Indian
Context. Academy of Entrepreneurship Journal, 24(2), pp.1-12.
Omojola, T.R., 2019. Marketing Education: A Critical Factor in Reducing Unemployment and
Entrepreneurship Failure in Developing Economies. Marketing, 5(2).
Ramadani, V., Dana, L.P., Gërguri-Rashiti, S. and Ratten, V., 2017. An introduction to
entrepreneurship and management in an Islamic context. In Entrepreneurship and
Management in an Islamic Context (pp. 1-5). Springer, Cham.
Turner, T. and Gianiodis, P., 2018. Entrepreneurship unleashed: Understanding entrepreneurial
education outside of the business school. Journal of Small Business Management, 56(1),
pp.131-149.
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