Entrepreneurship and business revisio1

Entrepreneurship and business revisio1 - Jeopardising...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Entrepreneurship and business revision The Business Risk: Focus on continuous improvement – customer satisfaction Fail to recognise new wave of technology and opportunity Fail to participate from the outset Fail! Discrete Change : Product or process transformation Disconnected from earlier versions – cannot be linked to the previous incarnation by small gradual step changes No previous data on market reaction or customer response May drive customer choice – the latest, newest technology A clear break from existing established technology and process More difficult and uncomfortable innovation Potentially more difficult, uncomfortable and unpredictable for: Businesses Customers Suppliers Society Communities Government Stakeholder Analysis = The need to try to consider all parties affected Reducing uncertainty Designing launch strategies Calculating risk The Business Risk : Investing in uncertainty and the unknown / unpredictable Redirecting resources form investment in continuous improvement
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Jeopardising competitiveness in existing products service and process markets Fail to recognise the need to review and reconsider Fail to know when to give up Fail! Entrepreneur led Economic Change and Development : Entrepreneurial insight Lateral thinking Entrepreneurial Potential Discontinuous Innovation Economic development through creative destruction BuT, Everything depends upon step 1: Entrepreneurial insight and lateral thinking Generating the ideas and inventions that underpin discontinuous innovation Imagining concepts that do not follow logically or developmentally from existing products, services or processes. Lateral thinking to make lateral jumps: The ability to think sideways The ability to recognise and suspend implicit assumptions The ability to relax our self imposed rules and constraints...
View Full Document

This note was uploaded on 02/10/2012 for the course MGT 3360 taught by Professor Staff during the Spring '08 term at Texas State.

Page1 / 2

Entrepreneurship and business revisio1 - Jeopardising...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online