The Success Of A Successful Entrepreneur

Innovation within my organisation is about creating and successfully applying new ideas in this particular field. This could be in the form of such as creating and bringing a new product or service to market, or a series of smaller

Every business leader requires strategy and vision be prosperous. However, that single-handedly does not assure effective implementation of new inventions. It is the responsibility of you as a manager to involve the minds

For this discussion post, I will be discussing why understanding and effectively managing change and innovation is an essential leadership competency. I will provide two examples in regards to rationale and how change has been successfully or unsuccessfully managed at my place of work. I will provide an example of what my place of employment could have done differently in managing the unsuccessful changes. Along with this, I will provide change theory elements used. Upon ending this discussion, I will end with a conclusion.

Leaders of innovation must imprint their DNA onto their organization to the extent that it resonates throughout the workforce. If a leader is able to successfully accomplish this task, the workforce will become an integral part of the innovative process within their organization. Former CEOs, Vineet Nayer of HCL Technologies, Steve Jobs of Apple and Jeff Bezos of Amazon are examples of leaders who were able to successfully utilize the five discovery skills described by Dyer, Gregersen, & Christensen (2011) to develop an innovative culture throughout their respective workforces in order to boost the overall innovation of their companies. Specifically, Nayer, was able to quickly surmise that his IT company was at risk of losing market shares, struggling to keep up with their competitors and were not prepared to face the changes that here taking place in the IT services industry at the time. The following paper will explore the global trends that influenced the need for Nayar to create a more innovative organization and the relationship between the global trends and Nayar 's role as a leader of innovation. In addition, the article will analyze Nayar’s use of the five discovery skills as an innovation leader and finally explore recommendations for better use of the discovery skills.

another important opportunity for this company is Innovative Schemes, Innovation is the key idea that is a shaping corporate life, helping leaders conceive previously unimagined strategic options.Innovative Schemes also accelerate profitable top-line revenue growth and enhancing capabilities.

Innovation is defined as a method to doing or creating something different or new. Before starting the innovation process, it is imperative that the plans create opportunities to add growth to the company. When innovation

Management in an organisation might take the view that to be successful, the organisation must be innovative, and continually look for new markets, new and better products and improved processes.

Innovation is identified as commencement of a new idea generally refers to transforming or producing more advantageous processes, services, products that can increase the probability of a business to be successful. “Innovation refers to doing something different” in businesses generate more efficient work procedures and have enhanced performances and productions. It turns up that innovation is a resource of at least numerous things to different people any new found invention of services or products, significant creation or a unique “culture of innovation.” The conception of originality is important to understand as a manager and for association overall. The major operation that is projected for innovation is commonly the

The fifth distinctiveness is “Become Known as an Expert” becoming known as an expert is another style of prospecting for new business, just in reverse. Instead of finding new and qualified people to sell to, people seek you out for your expertise. Sixth, is “Invest in Yourself” which to me is one of my most favorite and most important keys to becoming a successful entrepreneurs. Top entrepreneurs buy and read business and marketing books, magazines, reports, journals, newsletters, websites and industry publications, knowing that these resources will improve their understanding of business and marketing functions and skills. They join business associations and clubs, and they network with other skilled business people to learn their secrets of success and help define their own goals and objectives. Top entrepreneurs never stop investing in the most powerful, effective and best business marketing tool at their immediate disposal – themselves.

Over the years the corporate world has realized the fact that in order to remain in the business in an aggressively competitively environment, organizations must ensure that they remain in the process of constant innovation. While this innovation is immensely important for the organization's individual success, it also has great impact on macro environment as well.

Positive approach to innovation is greater if employees know that they have the support of superiors and independence in action while they develop innovative ideas, as well as that they can make use of financial resources to support the innovation processes. As the relevant literature shows, objectives may actually promote innovation at the same time leaders of the organization should give a clear signal that innovation is highly desirable, by setting ambitious goals indifferent areas and establishing motivated teams to find ways to implement the vision.[14]

Positive approach to innovation is greater if employees know that they have the support of superiors and independence in action while they develop innovative ideas, as well as that they can make use of financial resources to support the innovation processes. As the relevant literature shows, objectives may actually promote innovation at the same time leaders of the organization should give a clear signal that innovation is highly desirable, by setting ambitious goals indifferent areas and establishing motivated teams to find ways to implement the vision.[14]

The spokesperson said that there are two major aspects that drive innovation in an organization. They were Emerging Market, Peer-Competition. I agree to him, but I also would like to add one other important aspect to the list i.e. Encourage Creative Thinking within the organization. It is because of the continuously evolving Market and consumer requirements, organizations are forced to innovate. Creativity is exploring the capability of one’s mind and to bring about new ideas which eventually leads to an innovation. This is the case with companies like Microsoft that introduced Windows 7 and Apple that introduced iPod. Apple and Windows encourages employees to be creative, collects ideas, and tries to implement those ideas into innovation as and when possible.

Historically, most managers equated innovation primarily with the development of new technologies or products. However, innovation is increasingly seen as the development of new service offerings, business models, pricing plans, distribution channels, or management practices. There is a greater recognition that great ideas can transform any part of the value chain and those products and services represent just a small segment of innovation. This broadening of focus has implications for those who are responsible to innovate. It used to be just a selected group of employees, usually within R&D: designers, engineers or scientists, whose job was to generate and pursue new ideas. Nowadays, organizations are trying to induce an innovative culture across the hierarchy to achieve holistic transformations. Making innovation everyone’s business sounds intuitively appealing but is hard to implement. Employees face capacity issues, time constraints, and motivation issues that restrain them. There is often a lack of consistent follow-through of well-intentioned schemes. Additionally, there is typically some level of disconnection between the priorities of senior management and the efforts of those lower down in the organization. This becomes more evident in large corporations where established processes are already in place and leave very little room to innovate.

The human society in the present times has evolved in such a way that the search for wealth becomes the most important endeavor for many. Wealth in this statement pertains to the ability of a person to buy material possessions. As the search for acquiring wealth became the priority of people in a capitalist system, wherein most countries are economically situated- means to acquire wealth has become somehow the holy grail of the society. As the front-liner topic in business research, many studies are done in the field of entrepreneurship with substantial liking and support. Alongside the vast topic of entrepreneurship, one of the most regarded is the aspect of social entrepreneurship and the advances of this discipline. The discourse community in this industry is geared to see trends and analyze information from existing business systems. They create theoretical findings and deduce information that would be helpful in creating effective business structures. To give a holistic approach, three different articles from a journal were considered and used to see discourse in action in this field. The first article came from Saul Estrin and his associates, in which they tackle the different aspects of social entrepreneurship through the nations. What follows is the article, which was written by Eric Gedajlovic that establishes the importance of social capital in entrepreneurship. Lastly, the team of Dirk De Clercq wrote an article about social capital organized in internal knowledge