Managing Innovation and Entrepreneurship Chapters Analysis Paper Example

Introduction

After reading Chapters 4, 5, and 6, I was able to have a better understanding of what it entails an innovative leader in an organisation. The success of any organisation highly depends on the decisions that its leaders make in the wake of a crisis. Creative leadership calls for quick decision making which facility the survival of the organisation in business. Changing innovation and invention of modern technology has forced many organisations to have a change in strategy in their ways of operations since if they fail to do so things might get out of hand and the organisation can lose its competitive edge with its competitors.

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How to remain innovative as a leader

Becoming creative as a leader to any organisation is of great significance. A leader of an organisation such as Christa Carome who is the chief marketing officer for Zerox, which has been a leading producer of the photocopier machines saw that the sales of their products kept on diminishing, decided to find out why. She realised that there had been new technology in the market of the laser copier they ventured into it. Still, their sales were not good, and they ventured in health care and other service providing ventures, and that is how she kept Zerox Company alive.

Chapter 4: Building an innovative and entrepreneurial organisation

In this chapter, a leader of an organisation is expected to ensure that the organisation remains creative as well as entrepreneurial. Innovation will be achieved by coming up with new ideas as well as adapting to emerging technologies. Zerox Company after they realised that the sales of their photocopiers had drastically fallen, they decided to venture in laser copiers this ensured that they remained relevant in the market and also improve on their entrepreneurship. On the other hand, L'orea cosmetic company which was the separate study for this paper decided to do billboard and radio advertisements to increase the sale of their hair dyes.

Chapter 5: developing innovation and entrepreneurship in both individuals and teams.

Development of innovation and entrepreneurship for an individual as well as the workforce of an organisation is of utmost importance since it can create continuity and improvement of skills and service delivery to the customers. Zerox Company decided to use their employees to market their products by using links of the products of the company in their socio media accounts. This was an innovative idea to improve the entrepreneurial skills of the employees.

Chapter 6: design thinking and innovation.

Design thinking and innovation brings creativity to an organisation. This has been outlined in the chapter. About the Zerox Company, the change from photocopiers to laser copiers was a change of design which had great innovation in it. On the other hand, the L'orea Company decided their way of changing the design of their products would be through diversification. They moved from supplying just hair dyes to other forms of cosmetics which included masalas. This change in design and incorporating diversity increased their market as they were able to meet the demands of many customers and their specifications.

Conclusion

The world of business is ever changing. This form of change is as a result associates of innovation brought about by the shift in technology and emerging marketing strategies for the entrepreneurs. This change is good as it enables the organisation to meets the current demands for their customers. However, it can also be bad news for the organisations that fail to adapt to the present innovations, and it becomes just a matter of time before they lose their competitive edge.

References

Hisrich, R. D., & Kearney, C. (2014). Managing innovation and entrepreneurship. Los Angeles, CA: SAGE.

Xerox's Secret To Success: 'Innovative Spirit (2012, November 19). Retrieved from https://youtu.be/hdaRRs6Jx7QBecause you're Worth It: See The History of L'Oreal In Under 3 Minutes (2014, November 06). Retrieved November 17, 2018, from https://youtu.be/PEP1HfT7IMA

https://youtu.be/PEP1HfT7IMA