Innovation and Entrepreneurship in Business Context: An Analysis

This assignment examines the critical role of innovation and entrepreneurship in business, using the hypothetical company "Blossoms" as a case study. It explores how innovation, defined as introducing new products or services, and entrepreneurial skills impact organizational structure, strategic planning, and overall business success. The essay analyzes the interrelatedness of business structure and strategy, highlighting how innovation encourages change and influences decision-making, particularly in marketing and technology adoption. The assignment also discusses the impact of external factors such as government policies, surrounding culture, and technology acquisition on entrepreneurship and business performance. It emphasizes the importance of adaptability, strategic planning, and leadership in fostering innovation and achieving a competitive advantage in the market. The essay underscores the need for entrepreneurs to continuously monitor customer responses and adapt their strategies to meet market demands effectively. The essay is a good example of how to analyse innovation and entrepreneurship in a business setting.

Running head: INNOVATION AND ENTREPRENEURSHIP
Management and Business Context
[Innovation and Entrepreneurship]
Name of the student:
Name of the university:
Author note:

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Innovation is like a weapon to the entrepreneurs, which they use to bring new
changes and represent those changes as opportunities for a prospering business in future
(Crumpton, 2012). One of the commonest forms of innovation is bringing up a new product
or launching a new service in the market (Onetti et al., 2012). “Blossoms” is a new concept
with which the owners of the company want to hit the Australian market with Spanish flavour
in different food items. It would generally introduce the Spanish tradition in the Australian
market. The concept looks potentially appealing and so the organisational structure is;
however, the real look out would be the extent up to which they deliver innovative ideas. A
business can open up good and earn huge success in a very less span of time if it delivers on
the predesigned organisational structure and uses innovative thoughts to bring changes, which
are both competitive and profitable as well (Trimi & Berbegal-Mirabent, 2012). The
assignment has identified innovation and entrepreneurship as a potential choice, which would
bring competitive changes in the operation and would establish “Blossoms” as a successful,
company (Kerr, 2013). The main purpose of this assignment is to analyse the impact of
innovation and entrepreneurship on the business of the proposed company “Blossoms”.
Business structure and strategy are interrelated to each other to some extent such as in
the case of finalising a new business structure with the help of strategies. However, in
broader terms those two might differ considerably. In some cases, strategy making might not
produce any impact on the existing organisational structure (Bock et al., 2012). For example,
incepting a new mean of marketing does not require a change in organisational structure if
the organisation has adequate numbers of marketing personnel. However, both the strategy
making and the organisational structure are entirely related to the term innovation. Innovation
is the one most effective factor that encourages for a change, which can be either a major
change or a minor one (Johnson, 2017). Entrepreneurship skills bring innovation, which has
its high influence on the organisational structure and the strategies. The chosen organisation

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and the identified products to launch is a very good example of innovative thoughts.
Innovation encourages for doing something new; however, this is not entirely related to doing
unique things all the time but it is rather doing things that are new to a specific company. For
example, the newly proposed venture “Blossoms” would soon open up its restaurant in
Australia. The Spanish flavours have been planned as offerings to the Australian customers.
The management has sensed the urgency of the venture, which is why they have planned an
organisational structure that includes executive management, frontline associates, shift
supervisors and chefs. This is a very good example of innovation, which the management has
shows (Vaccaro et al., 2012). The organisational structure of the planned venture looks good,
as it has smartly identified the required workforce for giving the proposed plan a good
prospect. However, they should also hire an expert who would take care of the marketing
stuffs. A proposed plan like this can create a good impact on the market prior to its opening if
it uses a suitable marketing communication mode. It is highly recommended for a new plan
that it does a feasible marketing stuff to publicise the concept. This would help in generate a
buzz for the concept, which can be highly advantageous if they come out with some good
quality (De Mooij, 2013).
The proposed organisational structure for “Blossoms” should also include a marketing
expert who takes care of the required marketing stunt required for successfully launching the
concept in the market. It is also necessary that the hired marketing personal select the most
effective and the feasible marketing communication mode for the venture. The decision-
making in this context would be influenced by the monetary benefits of the different
communication modes and their appealing nature in the market. The use of innovation would
in this context help to make the selection of an appropriate communication mode, which
would be both feasible to the organisational budgetary capability and profitable as well for
pronouncing their reputation in the market. The selection of an appropriate marketing

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communication mode relies heavily on the entrepreneurship quality of the marketing
personal. Nevertheless, innovative thoughts would help the proposed venture develop
entrepreneurship qualities in them. To take the full advantage of innovative thoughts, it is
necessary that entrepreneurs never restrict their thoughts for some controllable issues such as
financial capability (Dawen, 2013).
Numerous contextual factors are associated with the entrepreneurship those all have
significant impacts on the organisational performance. Some of the contextual factors are but
not limited to such as the firm’s industry nature, government policies, technology acquisition
and surrounding culture. Government policies and surrounding cultures are external factors.
All factors have their impact on the organisational structure and the strategy making.
Government policies influence the business structure and the organisational strategies.
Government policies such as the restrictions on the use of some kind of food ingredients that
support obesity have its significant impact on the food making business. Companies under
such obligation need to be health oriented while preparing their food. However, even in such
circumstances entrepreneurs remain attached with the organisational vision by showing
their utmost innovativeness in selecting the most suitable strategy (Bullough, Renko & Myatt,
2014). Entrepreneurship would certainly help the proposed company in the food industry if
any such obligation were imposed on its business.
Surrounding culture does also influence the strategy making. The different food
companies for example target customers based on their choice of foods. It is never feasible to
offer Spanish foods to an Asian customer. They would rather prefer their regional food items.
Food companies in particular use innovative thoughts by selecting the food menu that suits
most the target customer. The proposed venture “Blossoms” would definitely need to hit the
right taste for the Australian customers. Entrepreneurship here again would influence the
strategy making for the proposed company. Technology acquisition is highly valuable in the

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contemporary business. It means adopting the technologies, which are high in potential. Such
technologies create differences in the market competition. The rising demand for the use of e-
commerce is one of such examples. Entrepreneurship would help the proposed venture to
innovate with various technologies available in the market. This would also encourage them
to use the most feasible technology with the planned budget of the company (Morris et al.,
2013).
The mentioned contextual factors of entrepreneurship such as government policies,
surrounding culture and technology acquisition influence the decision making as well. When
some part of a business is taken under strict scrutiny of the local government, it is then
necessary for the affected companies to take appropriate decisions to adhere the government
policies. Using healthy vegetables in different fast foods such as burger is one of the
examples of entrepreneurship. Such quality would also assist the performance of the
proposed company as because it might face some challenge in terms of menu offered to the
customers. Some customers might like the concept; however, many customers might not. In
such cases, entrepreneurs would use their innovative skills to bring some changes that could
match up with the masses. Technology acquisition is another very important factor that
affects the decision-making. For example, few companies use the manual form of entering
the necessary data such as the sales record; however, some use CRM to enhance their sales
and customer service capabilities. Some companies even go beyond the limit and use
Enterprise Resource Planning (ERP) to get an utmost solution on sales performance and
customer service (Schniederjans, Cao & Ching Gu, 2012). However, the selection of software
that is available in market depends entirely on the leadership quality of the firm. A small firm
can never afford to have ERP because of its cost of purchasing. Entrepreneurs in such case
show their utmost intelligence in identifying the most feasible technology, which is

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competitive as well as feasible with the organisational financial capabilities (Wingwon,
2012).
Entrepreneurship is a position that produce creative ideas in leaders using which they
redefine the market competition. Such leadership encourage for different innovative ideas,
which develops a fighting capability with the surrounding situation. The chosen organisation
in the context needs such entrepreneurship skills to foster their success chances with the
proposed service concept. Entrepreneurship would encourage its leaders build up in them a
fighting capability that does not fall short under any constraint. The proposed business
concept of a new venture “Blossoms” would rely heavily on the strategic planning of its
leaders. They are doing an experiment by introducing the Spanish foods to the Australian
customers. It is then necessary to continuously monitor the customer’s responses and act
accordingly. The entrepreneurs of the company would have responsibilities on their shoulder
to understand the customer’s perspectives and then fulfilling the desires by using their utmost
leadership qualities. They need to be innovative with different ideas. They need to be
technologically oriented as well, which would include but not limited to such as showing
viability to the most feasible technology.

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References
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