Entrepreneurship and Innovation Exam - GSBS6012, Trimester 1

This document provides a comprehensive solution to a take-home examination on Entrepreneurship and Innovation (GSBS6012) from Newcastle Business School. The assignment addresses four key questions: the challenges to adopting and diffusing radical innovations, key motivators for entrepreneurial activity, the concept and characteristics of gazelles, and the role of innovation champions in organizations. The solution incorporates relevant theories, provides illustrative examples, and discusses the significance of these concepts in the context of entrepreneurship and innovation. The document includes detailed answers to each question, supported by academic references, offering a thorough understanding of the subject matter. The paper explores various aspects of the assignment brief covering topics like innovation theory, motivation theories, characteristics of gazelles and the role of innovation champions within an organization.

Running head: QUESTIONS 0
entrepreneurship and innovation
MAY 5, 2019
STUDENT DETAILS:

QUESTIONS 1
Answer 1:
The innovation theory is facing challenges to the foundation as an outcome of latest
and new advancements in relation to, for an instance, discussion with reference to planned
innovation and communal innovation trends in the societies. Diffusion refers to the
procedure, with the help of which the innovations can be interconnected by various channels
over the period amongst the social system’s members. For an example, three foreign
development efforts regarding the diffusion concepts are reported by Barker. The concept of
innovation was addressed as the concept to know the changes, which was considered as the
exception to constancy and steadiness.
However, in a case where the society is continually moving and all are changing that
various viewers entitles, changes are not the exception somewhat these are the norms. All
people as well as organisations are not active in the process of changes along with they do not
accept the changes. It is the biggest challenge in adoption and diffusion of innovations. In this
way, the concept of innovation can be meaningless. It is required that everyone should carry
the certain types of roles in relation to changes. For example, (Normann, 1985) reported that
well-managed organisations are not only close to clients, but also find and focus on most
demanding clients to apply innovations. In conclusion, the innovation theory establishes in
new basic discipline, in relation to sociology and psychology, which has objective of
declaring that all system have driving forces to changes as per general change theory
(Sergeeva, 2016).
Answer 2:
There are various motivation theories, which are established and dissected over the last
period in an attempt to know the conducts of human beings (Aldrich & Ruef, 2018). As per

QUESTIONS 2
the motivation theory, there are certain key motivators, which seem to be connected with
people involving in entrepreneurial activities.
Firstly, money is main key motivator. People may deny this all they want, however majority
of entrepreneurs get in the game at least partly due to the potential to create lots of money.
The story of Mark Zuckerberg and Richard Branson is good example. They make possible
the dreams of becoming billionaire. Moving to next motivator, the wishes for control drive
various people who are associated with entrepreneurship who aspire to get the post of leader.
While the people are the boss of own company, then they would get to call every shot, from
who is employed and at which salary level to what new strategic direction, the occupational
head down.
Further, certain entrepreneurs do not work for money experiences as much as they are in this
for the lasting legacy. They want to be the face of a brand. They want to get appreciation and
set good example for others. It is a good motivational factor. Next key motivator is
teamwork. There are various people who love to work in team. The independent entrepreneur
can select strategic partners and the team to provide best quality work. HP Company is good
example of teamwork. It efficiently co-operates and finds effective ways to provide the
services to customers (Yoho, et. al, 2018). In conclusion, these key motivators are very
helpful to engage the individuals in entrepreneurial activities.
Answer 3:
As very small entity is almost restrict to grow faster through the small bases, it is
normally excluded by the gazelle’s discussion. Their characteristics are discussed below.
First characteristic is that Gazelles are small. Small-business believers want to create that
claims and surely new gazelle is essentially small. However, gazelles as the group include all
the corporations with different sizes. Secondly, Gazelles attain venture capital. It is believed

QUESTIONS 3
by venture capital entity that their investment would go to gazelles. However, there are
various gazelles, which do not attain the formal venture capital money at all. For an example,
Gazelles as group number certain three lakhs fifty thousand and even venture capital of
previous years flourish only regarding five thousand corporations attained funding . Next,
Gazelles are in high tech. There are various visible small corporations, which are in high tech.
For an example, the substantial proportion of the business, which make the annual list of
Fortune of hundred fast-expanding small corporations are in high tech. These corporations
are all freely traded that tilts the lists to technologies (Martin, 2016).
The gazelle operates in international market as well as national market. According to the
study of faster-expanding corporations given in Economic Development Review, certain
gazelles did go international or national; however, several of them did not (Zagzebski, 2016).
The companies that did not go international or national are catering companies and seven-
outlets fast food franchise. Various gazelle corporations over last years have either hi-tech or
internet business. For example, Yahoo, Apple, Dell, Microsoft, Amazon, and Cisco and
Google were gazelle companies during the starting of time. Facebook was
the gazelle corporation, and thus was Twitter (Sergeeva, 2016). In Conclusion, gazelle is the
very fast-growing corporation that keeps consistent expansion of both service as well as
income over the extended time.
Answer 4:
The innovation champions play an important role in fostering innovations in the
organisations (Mazzarol, Malon & Reboud, 2017). The innovation champions interact with
other people in order to bring in outside technology in the current product development and
expansion. By establishing the positive and healthy corporate culture, the innovation
champions delegate power down to all the workers to innovate. They also make the efficient
and super-performing team in the companies. In the addition of this, they also develop the

QUESTIONS 4
sense of timings. Selecting the time for publically backing the new concept is very
significant. They also establish the credibility (Yang, et. al, 2017).
For an instance, Vodafone is best example of the big, multinational
telecommunications corporation, which has turned the centralized and traditional innovation
framework on the head by addressing in year 2011 of the innovation programmes. The
keystones of these programs are innovation champions (Wesseling & Edquist, 2018). In
conclusion, innovation champions develop the culture of innovation. They create the open
and creative environment for the effective management within organisations.

QUESTIONS 5
References
Aldrich, H. E., & Ruef, M. (2018). Unicorns, gazelles, and other distractions on the way to
understanding real entrepreneurship in the United States. Academy of Management
Perspectives, 32(4), 458-472.
Martin, B. R. (2016). Twenty challenges for innovation studies. Science and Public
Policy, 43(3), 432-450.
Mazzarol, T., Malone, P., & Reboud, S. (2017). Scanalyse—A Case Study of the Role of
Social Capital, Strategic Networking, and Word of Mouth Communication in the
Diffusion of an Innovation. In Strategy and Communication for Innovation, 29(8), pp.
147-174
Sergeeva, N. (2016). What makes an “innovation champion”?. European Journal of
Innovation Management, 19(1), 72-89.
Sunbdo, J. (2015) International Encyclopedia of the Social & Behavioral Sciences.
Amsterdam: Elsevier
Wesseling, J. H., & Edquist, C. (2018). Public procurement for innovation to help meet
societal challenges: a review and case study. Science and Public Policy, 45(4), 493-
502.
Yang, C., Huang, Q., Li, Z., Liu, K., & Hu, F. (2017). Big Data and cloud computing:
innovation opportunities and challenges. International Journal of Digital
Earth, 10(1), 13-53.
Yoho, K.D., Ford, R., Edvardsson, B. & Dahlinger, F. (2018) Moving “The Greatest Show on
Earth”: WC Coup as an innovation champion. Journal of Management History, 24(1),
pp.76-98.

QUESTIONS 6
Zagzebski, L. (2016). Divine Motivation Theory and Exemplarism. Oxford: Oxford
University Press