Assignment Help | Organizations often try to develop an entrepreneurial culture through a strong orientation toward entrepreneurship.

INTRODUCTION
Organizations often try to develop an entrepreneurial culture through a strong orientation toward entrepreneurship.

REQUIREMENTS
Your submission must be your original work. No more than a combined total of 30% of the submission and no more than a 10% match to any one individual source can be directly quoted or closely paraphrased from sources, even if cited correctly. An originality report is provided when you submit your task that can be used as a guide.

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You must use the rubric to direct the creation of your submission because it provides detailed criteria that will be used to evaluate your work. Each requirement below may be evaluated by more than one rubric aspect. The rubric aspect titles may contain hyperlinks to relevant portions of the course.

A. Prepare a brief summary, listing and defining at least four reasons why entrepreneurial organizations seek opportunities for innovation.

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B. Acknowledge sources, using APA-formatted in-text citations and references, for content that is quoted, paraphrased, or summarized.

C. Demonstrate professional communication in the content and presentation of your submission.

MODEL ANSWER

QHT1 Task 3

            While the expectation is that various entrepreneurial organizations will exhibit aggression in their innovation pursuit, a lot of successful organizations tend to focus on using their business model, processes, and products to focus on innovations (Draghici & Albulescu, 2014). An organization benefits a lot from its pursuit of technological innovations, which includes gaining a competitive advantage, as well as improve efficiencies in manufacturing, boost the overall share of the market, and ensure future success (Kim & Ryu, 2017). Therefore, every benefit means it is crucial for the success of the organization.

           Most of the organizations may strive to gain a competitive advantage over their competitors in the industry, which may be difficult to realize. In general, the consumer market could be flooded with a lot of products that exhibit the same characteristics as well as value, which makes it difficult to differentiate these products (Draghici & Albulescu, 2014). Therefore, Kim and Ryu (2017) observe that by providing more product value or lowering product prices, the company may gain the needed competitive advantage in the industry. As a result, this kind of competition may result in an increase in sales and overall revenue.

           It can be a difficult challenge to establish profitable processes and procedures of manufacturing. Therefore, improving the inefficiencies of this process of manufacturing can be more | PLACE YOUR ORDER NOW AT writtask.com | an increase in spending may be temporary, it is necessary in ensuring that the R&D departments have all the resources required to analyze the procedures and processes, while making them more | PLACE YOUR ORDER NOW AT writtask.com | following short-term spending means there is a potential increase in profits and savings | PLACE YOUR ORDER NOW AT writtask.com | gained can also be used to boost the procedures and processes, while making them efficient, for all products, both current and future.

           There are companies than choose to primarily focus on a limited number of products to take advantage | PLACE YOUR ORDER NOW AT writtask.com | in number that have chosen to invest in the development of new products, especially in capturing a bigger market | PLACE YOUR ORDER NOW AT writtask.com | can potentially and considerably increase the brand loyalty of consumers by providing more products, while building a stronger reputation by lowering the costs of products and increasing their | PLACE YOUR ORDER NOW AT writtask.com | market share of an organization, the higher the potential to succeed.

           Additionally, there are numerous different factors, which can significantly impact the ability of an entrepreneurial organization to be successful in the | PLACE YOUR ORDER NOW AT writtask.com | that be out of control of the organization such as reducing consumer spending, as well as the cost of the raw materials (Kim & Ryu, 2017); on the other hand, there are also some factors that can indirectly influence or control the organizational operations such as technological innovations, and utilization of technology to improve the quality of products, thus impacting the quality of | PLACE YOUR ORDER NOW AT writtask.com | type is critical as it ensures the respective organization is ahead of the curve and can continue being important and relevant for customers in their respective markets or industries.

            In conclusion, entrepreneurial organizations consider technological innovations as an opportunity to gain competitive advantage over their | PLACE YOUR ORDER NOW AT writtask.com | tend to focus more on the product quality, thus the consumer market gets flooded with a lot of products that exhibit the same characteristics | PLACE YOUR ORDER NOW AT writtask.com | makes it difficult to differentiate these products, which means products that benefit from innovations are what these entrepreneurial organizations tend to focus on more.

References

Draghici, A., & Albulescu, C. T. (2014). Does the entrepreneurial activity enhance the national innovative capacity? Procedia – Social and Behavioral Sciences, 124, 388-396. Retrieved from https://pdf.sciencedirectassets.com/277811/1-s2.0-S1877042814X00182/1-s2.0-S1877042814020485/main.pdf?

Kim, Y.-K., & Ryu, M. H. (2017). Towards entrepreneurial organization: from the case of organizational process innovation in Naver. Procedia Computer Science, 122, 663-670. Retrieved from https://pdf.sciencedirectassets.com/280203/1-s2.0-S1877050917X00215/1-s2.0-S1877050917326698/main.pdf?