Assessment 2: Innovation and Entrepreneurship Case Study

Desklib provides solved assignments and past papers to help students succeed.

MGMT20144: INNOVATION AND
ENTREPRENEURSHIP
Assessment 2

TABLE OF CONTENTS
Task 1:
• Innovation
• Entrepreneurship
• Innovation in entrepreneurship
Task 2:
• Current event: From solar panel to sunscreen: the e-commerce
growth spurt
• Critical link between internal and external environment of
organization
• Problems due to innovation
Task 3:
Question 1: How does innovation impact on entrepreneurship?
Question 2: What are the challenges of innovation in an organization?
References

TASK 1

INNOVATION
OInnovation is a creative thought, new idea,
and imagination in the form of method or
device (Soriano, & Huarng, 2013)
OIt is the application of the solutions which
are better that meet unarticulated needs,
new requirements, and existing needs of
market (Trimi, S., & Berbegal-Mirabent,
2012).

ENTREPRENEURSHIP
O It is the willingness and capacity of
developing, managing, and organizing a
business venture along with its risks for
making profit (Maritz, et. al, 2015).
O It is the milestone on the road towards the
progress of economy, and huge contribution
is made future hopes and quality of sector
(Rangarajan, & Lakshmi, 2013).

INNOVATION IN ENTREPRENEURSHIP
O Innovation is the specific instrument of
entrepreneurship. Innovation and
entrepreneurship goes hand in hand generally
(Singh, & Gaur, 2012).
O For building the successful commercial
venture both of them are the essential
ingredients (Soriano, & Huarng, 2013).

CONTINUED…
O Innovation importance in
entrepreneurship is key value for the
business longevity (Boysen, et. al,
2018).
O Enterprises and companies keep
innovation as organization’s part and it
contributes in the success of company
(Wu, & Huarng, 2015).

CONTINUED…….
O Innovation can be termed as the
entrepreneurship’s facilitator and way
of people empowerment for taking
charge of lives and prosperity of
economy (Chaston,& Scott, 2012).
O Innovation is driving the movement of
global entrepreneurship (Eyre, et. al,
2015).

TASK 2

CURRENT EVENT
From solar panel to sunscreen: the e-
commerce growth spurt
O The vice-president of marketing of
“Asti vita” took innovative decision in
the organization regarding the selling of
its products through Amazon (The
Sydney morning Herald, 2019).

CONTINUE…
O Planning for launching of sunscreen as the
next product of company.
O Also looking at launching of oil diffusers on
site of Amazon.
O Company got success after launching of
selling its products through Amazon resulting
in increasing its wholesale customers also
(The Sydney morning Herald, 2019).

CRITICAL LINK BETWEEN INTERNAL AND
EXTERNAL ENVIRONMENT OF
ORGANIZATION
O The internal environment of Asti vita
include communication, learning,
organizational structure, employees and
mission of the organization.
O All the strategies, policies, and
decisions are taken by taking into
consideration the external environment
conditions of the organization.