Entrepreneurial Strategy: Analysis, Formulation & Implementation

This report provides an extensive analysis of entrepreneurial strategies, differentiating between entrepreneurial and intrapreneurial approaches. It assesses an organization's tactical situation, entrepreneurial competence, and market position, emphasizing the importance of strategic planning and environmental scanning through PEST and SWOT analyses. The report details the formulation of strategies aligned with acknowledged purposes, including outlining strategic plans, constructing detailed plans, and defining Key Performance Indicators (KPIs). It also evaluates alternative methods for problem-solving, highlighting the significance of considering societal aspects and employee involvement in decision-making. The report concludes by underscoring the importance of a reliable and consistent reporting mechanism to ensure effective implementation of strategies, offering a comprehensive view of tactics used within an organization. Desklib provides a platform for students to access this and other solved assignments for academic support.

Entrepreneurial
Strategy

Table of Contents
INTRODUCTION.........................................................................................................................3
Assessment of the entrepreneurial and intrapreneurial strategies................................................3
Examination of an organisation's tactical situation; its entrepreneurial competence and
position.........................................................................................................................................5
Formulation of the strategy, according to the acknowledged purposes.......................................7
CONCLUSION............................................................................................................................12
REFERENCES............................................................................................................................13

INTRODUCTION
This report deals with the concept of Entrepreneurial strategies in an extensive manner.
The examination of the exclusive approach that has to be taken in order to formulate the
decision-making processes considered by an organization will be done. The tactics that are
adopted by an organization are suitably accountable for the formation of the set of relationships
which eventually affects the enterprise operational approach in an in-depth manner. It thereby
helps in the identification of the relative strengths and weaknesses which can help in an
appropriate allocation of the resources present in the association. In respect to the AS2
consultancy report, the account will highlight the range of entre as well as intrapreneurial
strategies that are available, the relative entrepreneurial abilities and the most appropriate
implementational strategy according to the predetermined objectives of the firm. Further, the
alternative approaches that can be used will also be deliberated in a illustrious manner.
MAIN BODY
Assessment of the entrepreneurial and intrapreneurial strategies.
The terms that are highlighted in the title may sound similar but differs in respect to its
actual meaning. The entrepreneurs are responsible for the creation of a new organisation whereas
the intrapreneurs operate from within an organisation. An entrepreneur’s objective is to increase
its particular wealth whereas an intrapreneur that operates inside the association, works to
augment the communication process, inventiveness, expertise and revolutionary tactics in a
professional manner (Bogatyreva, Laskovaia and Osiyevskyy, 2022). There are various strategies
in respect to both the aspects that can be considered to analyse the company’s survival in the
market for a longer period of time. They can further be discussed:
Drucker’s approach for the entrepreneurial strategies – A well-known entrepreneur,
Drucker, formulated 4 general approaches that must be taken into account to ensure the optimal
success ratio of an institution in a viable manner i.e.
 Attaining supremacy in the market – The secret to success is to maintain the
dominance in the market by ensuring the superiority in the region it exists in. The
departments that are responsible for the functioning of the varied areas in an organization
must be designed in such a manner that the work they represent is a definitive one and

thus the value it exhibits must be rare and difficult to imitate for quite a period of time in
the market.
 Supply the ‘absent ingredient’ – The products or the services that are being offered by
the company must be exclusive in terms of its existence i.e., should be formulated
according to the prevalent needs and expectations of the customers. This very obvious
strategy focuses on fulfilling the requirements of the clients, which he rival parties that
are already existing in the market cannot.
 Discovering and inhabiting a specific “ecological niche” – The primary objective of
any organisation is to emphasis on the positional occupation of the company with respect
to its ecological forte to immune the management from the competition in order to be
inobtrusive in the market.
 Varying economic features – The company must be in a position to adapt to the
changing dynamics of the market in respect to the customer’s social and financial aspects.
The rationality of the demand by them must not be judged and irrespective of their
corresponding behaviour, the services or the goods that are provided to them must be of
the utmost quality and acutance.
The strategies related to intrapreneurship can be discussed as well –
 Empowerment of the employees – The focus must be upon the facets which influences
the job performance of the personnel employed in an organisation in terms of their
respective satisfaction towards the job. This ensures the efficacy in the projects assigned
to them by providing the right direction through training and development of the
workforce time to time.
 Prioritize employee relationships – The capabilities and expertise of the squad working
in an organisation can be identified through a persuasive conversation with them in the
meetings that accordingly held. This will prove to be the absolute fuel for the employees
to give their best towards the duties that are assigned to them.
 Encouragement of the team to think out of the box – This will enable the personnel to
think in their creative intellect which will boost their confidence and in due course
provide detailed insights to the enterprise. The coordination amongst the team members
will also improve because of this imperious initiative.

 Productivity in the brainstorming sessions – The ideas of the employees that are put
forward by them must be duly considered in the meetings hosted by the superiors to make
sure that their logistics are aligned with the organisational goals and objectives.
Examination of an organisation's tactical situation; its entrepreneurial competence and position.
The formulation of a well-versed strategic plan is indeed an imperative task to complete with
respect to its vision, mission and the major objectives determined in order to achieve a successful
market aligning. The most accurate route has to be chosen to ensure the practicability of the
company in the marketplace (Galván Vela and et. al., 2022). There are certain definite steps that
must be followed in order to achieve the desired goals effectively and efficiently.
 Identification of the strategic issues – The major comprehensions are identified relative
to their input for an influential planning scheme. These elements should be a brief
summary of the critical regions present in the business environment. The varied segments
existing in the organisations work upon their respective criteria i.e., issues related to the
revenue generation over a period of time, impact upon the staff because of the layoffs in
the recent budget, the value proposition according to the customer’s needs, etc.
 Skimming of the environment – In order to understand the prevalent scenarios,
conduction of the environmental scanning is the utmost requirement prior to the
implementation of a process. PEST analysis must be steered to analyse the present market
conditions.
i. POLITICAL – The elections, consumer protection acts, wars, terrorism,
structure of the governments, global relationships, political trends and the
regulations of the governing bodies
ii. ECONOMIC – The taxation implications, growth trends, unemployment rates,
income brackets. Ratios related to the imports and exports, tariffs, inflation and
the production levels.
iii. SOCIAL – The demographics of a nation, changes in the tastes and preferences,
educational level, migration aspects, occupational considerations, standards of the
citizens and their respective earning capacities.

iv. TECHNOLOGICAL – The prominent advancements, new researches and
discoveries, progression in the IT departments and other manufacturing as well as
bio tec advances.
Figure 1 Operating Environment Influence Diagram
 Competitive investigation – The relevant contemplations must be made in advance with
respect to the ongoing competition in the market to make oneself ready for the rivalry
that can be experienced. The threats as well as the opportunities that may influence the
functioning of the organisations in the future must be critically evaluated. This will help
in the determination of the most appropriate strategy to make use of, examination of the
competitor’s insights, relative competitive advantage in the souk and the emergence of
future competition in the market.
 SWOT analysis – Apart from the PEST analysis, another important scrutiny must also be
considered that helps in the investigation of the company’s strengths, weaknesses,
opportunities and threat that can be faced in the market in a thorough manner (Huang,
2022). The capabilities of the organisations in terms of their effective allocation of the

resources and process, the lags in those areas, the futuristics approaches in the market and
the competition that can be faced must ab taken care of in advance.
Figure 2 SWOT analysis
Formulation of the strategy, according to the acknowledged purposes.
The implementation of a particular strategy must be determined in order to ensure the
execution of the planning process according to the objectives and goals of an organisation. The
crucial steps that are involved in the context related to the purposes can be discussed in an
exhaustive manner:

 Outline of the strategical plan – The course of action that is chosen by the organisation
must be extensively designed as it can be referred to as the DNA of the firm. The model
that can be used to enumerate the implications involved in the strategy is Cascade model.
It portrays a clear picture of the scenario and helps in preventing the technical guff that
can be present in the framework. The vision that is created by the company to attain the
standards are considered and appropriate amount of focus is given to each of the missions
assigned by the firm to the targets.
Figure 3 The cascade model
 Construction of the plan – The creation of the ultimate plan finally starts in this step.
The comprehensive detailing of the procedures involved in the germination of a viable
and an evolutionary plan is accurately done (Kumar and Sudarsanam, 2022). This

includes the decision made upon the values the composition that it must exhibits,
determination of the areas which requires major attention, team evaluation, reserves made
for the contingencies and the guide to launch the strategy in the planning process.
Figure 4 Steps to build a plan
 Defining the KPIs – The Key Performance Indicators (KPI) define the focused areas in
respect to the vision created in the very beginning by the executives in order to achieve
the objectives and goals that are laid down. They must be attainable, simple, easy to
measure and relatable to the ideology behind the whole plan. The total number of the
KPIs that can be chosen by an organisation must not be more than 6 or 7.

 Devising reliable and unpretentious strategy reports – The final step is to consider the
above-mentioned aspects and formulate a reliable and a consistent report which will
directly influence its scope of implementation in the market. The jest of the report so
presented must give the wholesome view of the tactics that will be used in an
organisation in a significant manner. It must include the level of accountability each
representative of the firm holds in respect of their duties and responsibilities.
Arbitration and evaluation of the alternative methods to the problems that were presented.
The facts as well as the arguments that are presented after the thorough analysis,
evidently supports the importance of the entrepreneurial contribution in the market. The policy
makers must consider certain elements apart from the recognized ones in order to ensure the
feasibility of the business plan that has been articulated (Modarresi Saryazdi and et. al., 2022).
 It is very important to consider the relative aspects associated with the determined course
of actions. They can be the perceptions related to the varied dimensions present in the
society or the actual estimation of the performances of the employees. The involvement
of the workforce in a considerable amount can help in the exploration of such regions
which can be neglected by the experts while devising a plan. This can uplift the decision-
making process and will make them more effectual.
 The choices made in respect of the policies must be critically evaluated on the basis of
the data that has been gathered by the representatives of the firm. The viewpoints of all
Focus Area KPIs
 Clients Find Us - Number of website visits per month
- Size of active mailing list
 Clients Subscribe - Free trial to paid conversion rate
 Clients Stay & Grow
- Client NPS
- Average length of a subscription (days)
- Average revenue per subscription
 A Platform to be Proud Of - Average rank on product review sites
 Push The Industry
Forward - Total Google searches for industry keywords
 Developing Our People - Staff turnover rate

the parties that are involved in the process must be taken into the interpretation i.e., the
prospective customers, personnel as well as the contractors involved in the supply
process. This can help in accurately designing the policy for the entre as well as the
intrapreneurs.
 The generation of appropriate alternatives must be done in order to figure out the
potential choices that be used instead of the ones that can be proved to be even more
beneficial for the organization. The goal of any establishment must be to identify as many
as possible substitutes to make an inclusive distinction between them and narrow it down
the most suitable option thereby. The factors such as the resources that are involved,
constraints present, analytical prohibitions or the feasibility in terms of the time a
particular process consumes, can be duly recognized.
 A decision tree can be used to support the tools that proves to be an aid in the analytical
procedure through a graphical depiction. All the available alternatives can be shown over
a virtual tress. This can help in segmenting the areas and therefore detect all the
obtainable options in a productive and a dependable manner. The benefits, costs and
expected probabilities can be represented in a pictorial form. This will be cleared from an
example in the form of a virtual image:
Figure 5 Decision trees can improve investment decisions by optimizing them for maximum payoff.
 The utilization of another influential theory known as the Bias and Prospect theory,
developed by Kahneman and Tversky, is also suitable for the decision-making process. It
is based on an assumption that; people behave as per the possible advantages and losses

they can attain but through an experience of considerable less jeopardy and moves
towards the direction of attaining the maximum level of gains that they can which means
they are risk averters and fear the negative consequences that can be faced by them. They
are thus biased towards less risky decision even when the benefits that can derived from
an alternative overshadows the chosen one. The consumer also considers the number of
benefits and losses that the other buyer gets and acts accordingly which contradicts the
traditional economic theory in number of ways (Nasution and et. al., Ratten, 2022.
Figure 6 Prospect theory and risk aversion
CONCLUSION
A corollary can thus be made that the Entrepreneurial strategies along with the
Intrapreneurial decisions made by an individual or the firm as a whole can adversely affect the
policy making configuration. There are sequential steps that must be followed while formulating
a viable plan for the growth and expansion of a firm. The pros and cons effecting the market
positioning of a firm must be accurately determined and measured in terms of its efficacy in the
planning process. The other alternatives available in the market should also be considered to
have a complete overview of the scenarios prevalent in the business environment. Therefore, the
most appropriate strategy must be utilized to ensure the profitability as well as maintaining a
reputed business in the souk.