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Key factors that influence the success of business
Key factors that influence the success of business
Key factors that influence the success of business
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Introduction:
Corporate venturing is an activity that helps organizations diversify their business and build a competitive advantage. This report discusses case studies of three chosen corporate ventures and thoroughly discusses the lessons learnt from each case study that can help other corporate ventures operating in a similar industry to learn from. Each case study is compared with the other to analyze the similarities and differences in attributes possessed by them. These qualities are analyzed from a market positioning perspective.
The success factors in a broad sense are identified and categorized that can help other firms competing or otherwise to incorporate. Although lessons are learnt from the case studies the report discusses the difficulties other firms might have in adopting these success factors as part of their organizational culture.
Case Studies:
There are three Entrepreneurs whose ventures are analyzed through individual case studies. They are
a) Jeff Griffiths
b) Greg Stamboulidis
c) Mr. Khurelbaatar
From the case study of Jeff Griffiths, one of the most important lessons organizations can learn is the importance incorporating a business structure that operates through a divisional framework. Furthermore his business structure ensures to strategize in a manner that failure in one component of the business does not lead to a failure in the other. It can also be inferred from the case study that an entrepreneurial idea by itself cannot contribute to the success. Emotional, psychological and financial investments have to be planned and implemented by motivated individuals at a time when the window of opportunity is open(Pech 2009). The case study lesson for other organizations can be characterized under three d...
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...lia.
9. Pinchot, G. (1987), Innovation Through Intrapreneuring, Research Management 30(2), 14-19.
10. Porter, M. E., “Strategy and the Internet,” Harvard Business Review, March 2001.
11. Porter, M. E., Competitive Advantage: Creating and Sustaining Superior Performance. New York: Free Press, 1985.
12. Rauch, A., J. Wiklund, G.T. Lumpkin & M. Frese (2009), Entrepreneurial Orientation and Business Performance: An Assessment of Past Research and Suggestions for the Future, Entrepreneurship Theory & Practice, May, 761-787.
13. Sharma, P. & J.J. Chrisman (1999), Toward a reconciliation of the definitional issues in the field of corporate entrepreneurship, Entrepreneurship Theory & Practice, 23(3), 11-27.
14. Burgelman, R. A. (1983). A process model of internal corporate venturing in the diversified major firm. Administrative Science Quarterly, 28, 223–244.
Many organizations began as a singular vision of an individual. Someone identifies a market deficiency, impassioned purpose, or perhaps a new technology. Whatever that catalyst has been, these individuals decide to devote their efforts to the idea and create a company or organization that seeks to work towards this vision. However, what occurs when the founding individual steps away and the organization remains? This is the question explored in a case study created by Terri Patkin entitled, “Discord at the Music School” (Patkin, 2007). In this study, the protagonist, Carole, becomes the new director of the Bow-strings Music School, replacing the revered founder, Wendy. This story chronicles Carole’s experiences of frustration and ineffectiveness
P, Micheal 1998, Competitive advantage: creating and sustaining superior performance: with a new introduction, The Free Press, America.
A business can either take a step forward or a step back depending on the external and internal influences and how they handle them, they can either flourish or enter stages of degradation and cessation. External and internal influences on a businesses plays a part in the opportunities that arise in the industry the business operates in, otherwise the business may choose to venture out of it’s defined industry depending on the opportunities at hand. Businesses are affected by internal and external influences to a degree where they are either benefiting or suffering from the way they handle opportunities that arise. The five articles depict the problems encountered by businesses no matter their size or industry.
In this paper, I’m going to be telling you the difference between a Small business and a corporation. These two have a lot in compared and a lot of difference. There are a lot of small business and corporation growing fast throughout the world. Both businesses take a lot to manage and you also must have the skill and the ability to do so. If it was easy, everybody would have some type of business growing in this world
...ative aspects of diversification, for example through better corporate planning, human recourse management and reaching further synergies between its various business lines.
Miles and Snow’s typology is centered on four types of businesses; each with its own strategy. These business types are those of prospectors, defenders, analyzers, and reactors. A prospector tends to be a firm which often introduces new products to the market (p.196). These businesses can be described as risk takers, typically being some of the first firms to introduce a new product to the market. Prospectors are flexible and meet industry changes head-on by rising to challenges and creating new and improved
Ensign PC 2004, ‘A resource based view of interrelationships among organizational groups in the diversified firms’, Strategic Change, Vol. 13. pp. 125-137.
of a firm to attain new forms of competitive advantage (Müller, 2011). It is due to these
...M. E. (2008). Competitive advantage: Creating and sustaining superior performance. New York: Simon and Schuster.
In the first stage of growth, the founders of an organization develop skills and create new products. Learning is a huge component of this phase of organizational growth. Entrepreneurs learn what works and what doesn’t. People’s behaviors are governed by organizational culture rather than by hierarchy (Jones, 2010).
This essay plans to focus on the corporate strategy of Microsoft, and show how Microsoft has used diversification successfully within their corporate strategy to gain a competitive advantage.
Porter, M. E., 1999. The Five Forces that Shape Competitive Strategy. Harvard business review, p. 80.
A key part of an organizational strategy is to identify market opportunities by finding a niche or a gap in the marketplace that they can pursue to take their company ahead of all their competitors. An organiz...
Dollonger, M. J. (2002). A framework for Entreprenership. In M. J. Dollonger, Entrepreneurship strategies and Resources (pp. 5-6). New Jersey.
Corporate Entrepreneurship can be seen as the process whereby an individual or a group creates a new venture within an existing organization, revitalizes and renews an organization ,or innovates. Zahra’s(1986) definition of corporate entrepreneurship suggests a formal or informal activity aimed at creating new businesses in established firms through product and process innovations and market developments,whereas sathe(1985) defines corporate entrepreneurship as a process of organizational renewal. Corporate Entrepreneurship has emerged as a much needed ingredient contributing towards the growth of any organization under a changing business environment.