ENT30010 Assignment 2A: Entrepreneurship and Innovation Review

This assignment presents an article review focusing on entrepreneurship and transformative innovation, fulfilling the requirements of ENT30010. The review analyzes two articles: one exploring the paradoxes of entrepreneurial thinking and the other examining the concept of the 'New Corporate Garage' and the link between corporate entrepreneurship and transformative innovation. The first article delves into the core skills of entrepreneurial thinking, highlighting its relevance in the modern business world and emphasizing the importance of creative problem-solving, risk-taking, and the ability to identify opportunities. The second article examines how large corporations foster innovation, discussing different eras of innovation and the role of technology and partnerships in driving transformative change. The review discusses the importance of corporate entrepreneurship and innovation, the link between corporate entrepreneurship and transformative innovation, and provides relevant examples.

Running head: Entrepreneurship and Transformative Innovation
20
Article Review
Entrepreneurship and Innovation

Entrepreneurship and Transformative Innovation
Contents
Introduction...........................................................................................................................................2
Paradoxes of Entrepreneurial Thinking.................................................................................................2
Key deliverables of the article...........................................................................................................2
Relevancy of the entrepreneurial thinking.........................................................................................2
The New Corporate Garage...................................................................................................................3
Importance of corporate entrepreneurship and Innovation.................................................................3
Link between corporate entrepreneurship and Transformative innovation........................................3
References.............................................................................................................................................4

Entrepreneurship and Transformative Innovation
Introduction
Entrepreneurship and transformative innovation are parallel concept liked internally in many
manners. This paper will present analysis of two different articles representing the concept of
critical thinking in entrepreneurship and transformative innovations and other will discuss the
relation between the corporate business environment and transformative innovation.
Paradoxes of Entrepreneurial Thinking
Answer
Citation form used in this article review is Swinburne Harvard Style.
Answer: Key deliverables of the article
Founders of this article represent entrepreneurial thinking as an essential concept in the field
of 21st century business world, present environment of business innovation have challenging
environment hence new entrepreneurs need hard to think about creative ideas. Entrepreneur
thinking support management of human resources, financial resources, and other necessary
resources, management of these resources reflects effective innovative ideas behind
developed organisation (Spruijt 2017).
This article supports the innovative ideas emerging as the need to change something or to
find solution for a problem in the business organisation. Author in this article represent five
major key findings about the importance of entrepreneurship thinking as it leads a way to
play risky innovation in the organisation, it allows entrepreneurs to open their mind towards
hidden opportunities to expand and develop their ideas.
Thinking about the changes lead skill to perform best in the critical situation by using the new
research method to deal the issues and use of hidden opportunities behind the problems in the

Entrepreneurship and Transformative Innovation
organisation. By thinking about the issues, entrepreneurs are attached with it emotionally and
it became their passion to transform their new idea in an action plan to earn profitable
outcomes from this talent (Sen 2013).
Answer: Relevancy of the entrepreneurial thinking
Teaching entrepreneurship in various perspectives is very difficult to teach any person
because creativity is all about internal innovative skills not acquired by learning outside. This
article helps to define understanding the entrepreneurship skills hidden in a person and
discuss the forms useful in applying techniques to identify the best innovative skill in the
business and to deal the idea of innovation with proper management of patience and self-
reflection. This article has discussed different paradoxes describing the learning and
relevancy of entrepreneur teaching with innovation (Scott D. 2012).
For example, Decision-making Paradox teaches the skills to take the right decision in right
time, proper utilisation of available resources in the given time. The uncertainty paradox
teaches the entrepreneurs about positive and negative upcoming uncertain events in the
process of innovation, and the opportunity paradox teaches entrepreneurs about identify the
favourable opportunities for introducing business ideas in the world of innovation and
changes (Raziq et al. 2019).
Answer:
378 words excluding citation

Entrepreneurship and Transformative Innovation
The New Corporate Garage
Answer
Citation form used in this article review is Swinburne Harvard Style.
Answer: Importance of corporate entrepreneurship and Innovation
Study of this article based on identification of innovative transformation and entrepreneurship
skills in the big and popular organisations. Writer facilitates readers to read the article in
understanding manner by dividing the process of innovation in four different eras each ear of
innovation represent the transformative innovation developed during that time ad impact of
the entrepreneur thinking in the overall process of innovation. Corporate world of
entrepreneurships require regular changes and innovation facilitates the big corporate
companies to acquire profitable changes (Scott D. 2012).
For example, in the era of 1950-60 emergence of VC Backed start-ups ventures and in the
1970’s establishments of Sequoia Capital and Perkins Caufield & Byers supported the
formation of big established companies like Apple, Microsoft, Cisco Systems, Amazon,
Facebook, and Google. Involvement of the technology is seen in the end of third eras,
technology make the innovative ideas worthy, and fourth era started using the business model
for supporting the innovation in the corporate world. Emergences of the catalysts support the
innovative ideas supporting the global partnerships and trade relations in order to maintain
the long run profitable outcomes for the organisations (Ang 2012).
Answer: Link between corporate entrepreneurship and Transformative innovation
Present world is full of innovation and big entities are supporting the entrance of the
innovation in their organisation ensuring that this partnership should base on the long
profitable return and increased productivity of the organisation. Entrepreneurs are full of

Entrepreneurship and Transformative Innovation
creative ideas and low-cost or no-cost introduction of innovation lead their idea changing into
promotional strategies for the successful organisations. For example, Medtronic’s healthy
Heart adapted the environment changes and innovation with the concept of reasonable
treatment for the heart issue available for all. This innovation made profitable return to the
hospital, from the establishment in the 1940 this is a leading heart specialist centre in the
global corporate world (Raziq et al. 2019).
An entrepreneur thinking to establish himself use innovative ideas to make the world
attracted towards ideas, hence all aspect of the entrepreneurship are based on the thinking and
transforming those ideas into innovation. Large business entities in the corporate world using
the transformative inno0vation as a change model to business model (Clausen 2019).
For example, a globally operating Indian Organisation Unilever took a transformative
decision in the 2010 to change meet the goals of corporate social responsibility, it decided to
use 100% agricultural and sustainable raw material and to support the life of 1.5 billion
people. To meet this target Unilever introduces Pure-it water purifiers to make the clean and
pure drinking water available to all.
Answer:
440 words excluding citation

Entrepreneurship and Transformative Innovation
References
Ang, C 2012, "The New Corporate Garage", CFA Digest, vol. 42, no. 4, pp. 65-66.
Clausen, T 2019, "Entrepreneurial thinking and action in opportunity development: A
conceptual process model", International Small Business Journal: Researching
Entrepreneurship, p. 026624261987288.
Raziq, M, Rodrigues, C, Borini, F, Malik, O & Saeed, A 2019, "Linking corporate
entrepreneurship, expatriation and reverse knowledge transfers", European Journal of
Innovation Management.
Scott D., A 2012, "The new corporate garage", Harvard Business Review, vol. 90, no. 9, pp.
44-53, viewed 9 January, 2020,
<http://web.nchu.edu.tw/pweb/users/arborfish/lesson/10207.pdf>.
Sen, A 2013, "Totally radical: From transformative research to transformative
innovation", Science and Public Policy, vol. 41, no. 3, pp. 344-358.
Spruijt, J 2017, "Paradoxes of Entrepreneurial Thinking: Why Entrepreneurship Can Hardly
Be Taught", SSRN Electronic Journal, viewed
<https://www.researchgate.net/publication/317150787_Paradoxes_of_Entrepreneurial_T
hinking_Why_Entrepreneurship_Can_Hardly_Be_Taught/citation/download>.