Sample Business Studies Paper on Entrepreneurial Organization and New Businesses

Upstart Electronic Firm, like any other business, is concerned with trying to create profits as it meets its customer’s needs. In a startup business, there is a need to develop a framework to enable the managing of innovation and entrepreneurship. During the process of starting this firm, I used a series of techniques to ensure that my employees were equipped with enough service skills.

In a business firm, employees are the key participants in ensuring the firm achieves its objectives. They should possess the entrepreneurial qualities such as networking. As such, I always encourage them to share the service they are offering to customers by letting everyone see what they are doing as well as seeking ideas from outside, which can help the firm in prospering. In addition, I encourage them to carry out their duties well even when they are unsupervised. I further encourage them to challenge every business idea that they come across, which could help the firm ( Jennings, n.d.).

In defining the breakthrough idea of this business, I used a series of questions as stated in by  ( Olufisayo ,n.d.),  which include who to sell our products and services to, what products and services to offer to our customers, how the business will be selling its products and services, as well as identifying the key problem that my firm will be solving in society.

When monitoring the ongoing systems in the firm, I will use the reports of the previously done transactions to predict the future of the firm (“What is ongoing evaluation and why is it needed?”, n.d.). similarly, I will focus on changes in external factors as highlighted in (“Assessing Your External Environment”, n.d.).  These include external change that may affect the internal functionalities of the firm such as change in technology, government policies, and change in social economic status of customers and local communities.

Upstart Electronics Firm will achieve its objective because employees know their duties. They also have enough skills for services offered. The firm is also focused on what to offer, to whom, and why offer those products and services. It also has a system to keep itself updated with what is going on around its environment.

 

 

 

References

Olufisayo. (2018, March 21). How to Identify and Evaluate Business Ideas and Opportunities. Retrieved from https://www.entrepreneurshipsecret.com/how-to-identify-and-evaluate-business-ideas-and-opportunities/

Jennings, M. (2018, September 10). 3 Ways to Encourage Your Staff to Think Like Entrepreneurs. Retrieved from https://www.entrepreneur.com/article/318744

What is ongoing evaluation and why is it needed? – Publications Centre. (n.d.). Retrieved from http://wiki.interact-eu.net/pages/viewpage.action?pageId=23756926

Assessing Your External Environment. (n.d.). Retrieved from http://literacybasics.ca/strategic-planning/strategic-planning-assesssment/assessing-your-external-environment/