Corporate Entrepreneurship and Innovation Case Study – Management Assignment Help

Assignment Task

Task

Introduction:

It is important for companies to constantly develop new ideas and products and improve their processes to stay competitive in the market. According to Hendrickson et al. (2018), companies should adopt an approach to foster innovation and entrepreneurship in their business operations to achieve sustainable growth in the market. The present report reviews the case study of corporate entrepreneurship and innovation at Google and proposes ideas for implementation for my current company. The report discusses the significance of corporate entrepreneurship in developing a culture of innovation at Google and its subsequent success as a leading technology company in the world. Moreover, the report discusses issues related to corporate entrepreneurship and innovation at my company and the challenges it faces in the market. Furthermore, the report discusses the importance of corporate entrepreneurship and innovation for achieving sustainable growth in the market. Finally, the report provides suggestions for my company to facilitate its strategy and achieve sustainable growth in the market.

Corporate entrepreneurship and innovation at Google.

Corporate entrepreneurship refers to a strategy that supports entrepreneurial behaviour within a company. Corporate entrepreneurship is an approach taken by organisations to enable their employees to develop new business opportunities (Kuratko, 2012). In this approach, companies adopt a culture of innovation and encourage the employees to adopt innovative ideas, thereby enabling them to develop new products, services and processes (Kuratko, 2012).

It is evident from the case study that Google has adopted a culture of corporate entrepreneurship and innovation to achieve competitive advantage in the market. Google adopted an innovative approach towards everyday processes to complement its strategy for innovation and corporate entrepreneurship (Rao, 2014). Moreover, Google leveraged on its workforce to achieve its strategy of innovation by allowing them to express their ideas and concepts through various initiatives (Rao, 2014). Initiatives like TGIF, Google Geist, Innovation Time Off facilitated open communication within the company and allowed the employees to work on innovative projects and develop business opportunities (Rao, 2014). As a result of this innovative approach of Google’s employee base, it was able to develop innovative products like Google Talk, Google News, Google Glass and Google Driverless Car, and made

innovative improvements in its existing products like Google Mail, Google Earth and Chrome (Rao, 2014). The innovative approach of Google helped it to become one of the most innovative companies of the world and achieve competitive advantage and growth in terms of revenue and market share (Rao, 2014).

Corporate entrepreneurship and innovation at my company AAA.

The company that I have been working for is not dependent on innovation for revenue and market growth. The company has a targeted market segment, and its approach is to follow the same strategy it had been using for the past few years. Moreover, it does not take an approach of corporate entrepreneurship to encourage its employees to adopt innovative ideas. Although, I have perceived that there is scope for improvement in the business processes and operations. Moreover, I have also perceived that the senior management does not pay attention to the feedback and ideas of the employees towards improvements in the business. However, the company has been profitable in the market nonetheless and recently, the new strategy adopted by the company focusses expanding the business through new products and acquisitions in the market. I think that the new strategy of expansion might face challenges in the market due to a lack of corporate entrepreneurship and innovation in the company’s culture.

Rationale for improvement.

Innovation is an important factor for economic growth in the competitive environment of the current business scenario. According to Hendrickson et al. (2018), sustainable economic growth is achieved through an approach that fosters innovative ideas and facilitates creative use of available resources. Moreover, indentureship and innovation is crucial for establishing new business ideas and opportunities in order to achieve market growth and expansion (Hendrickson et al., 2018). Furthermore, an innovative approach is important for improvement in the business processes, for introducing new and improved products in the market, for increasing efficiency and improving profitability (Info Entrepreneurs, 2022). Additionally, it is also important to facilitate a creative process within the organisation by supporting employees to adopt innovative ideas and processes (Info Entrepreneurs, 2022).

Recommendations.

My company needs to adopt a culture of innovation to achieve sustainable growth in the market. The company should adopt a culture on innovation to facilitate its strategy of expansion and growth. One of the ideas that could be adopted from the example of Google is that my company should adopt the use of Google Moderator, which allows anyone within the organisation to pose a question and everyone else to rank the question (Rao, 2014). This would help in better utilisation of time in the internal meetings of the company. Moreover, the company should adopt an award similar to Founders Award at Google (Rao, 2014) to reward teams that come up with the best ideas to increase the profitability of the company. By adopting these ideas, the company can achieve an innovative approach to growth and expansion in the market.

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