Mgmt20140 Analysis About Entrepreneurship And Assessment Answers

Answer:

The study has focused to provide detailed analysis of reflection on creative design course. The study has provided detailed presentation on 9 activities on innovation and creative design so that business organization can be managed in an attractive way. Based on detailed analysis on 9 creative design activities the study has critically evaluated about various business innovations by involving the opinion of different eminent scholars. After identifying the areas of my personal and professional development I have made an action plan as well along with evaluating its future scopes.

Reflection of the activities:

            The first activity has provided detailed analysis about entrepreneurship and various aspects of business entrepreneurship and innovation. After conducting this activity I got to know that rendering innovation in business is highly significant. Therefore, the business entrepreneur in order to gain effective innovation process within business tends to adopt innovation models and technology (Scarborough, 2016). Business innovation can ultimately gain competitive advantages in current market scenario. The second activity was all about success and failure story of different prestigious employer occupying a recognizable position in the international market. In this specific activity, I have heard the success story of Steve Jobs. By implementing different innovation model and process, Steve Job has already achieved international image and reputation (Joyce & Paquin, 2016). 

            However, I have heard the failure story of Nokia and Blackberry as well. Being unable to fulfil the needs and demands of the customers, the organizations have lost their glory (Spieth, Schneckenberg & Ricart, 2014). The third activity I have gained immense knowledge and information on various concepts of design thinking. In the workshop activity my lecturer gave me an in-depth overview about drunken violence. The fourth activity is all about importance of implementing textile technology in rendering innovative designs on products and services. The activity says that design plays a vital role in attracting the attention of large number of customers from various geographical and psychological backgrounds.

            The fifth activity is all about the importance of brainstorming in making the business process innovative. I got to know on how brainstorming method can resolve an identified business problem in a systematic way. Brainstorming is a systematic method of making group activities with the help of which one specific problem is aimed to reduce and solve. Sixth activity is one of the most significant activities that I have attended. It is all about value chain and its major importance. Value chain is one of the most effective parts of supply chain process.

With the help of effective value chain analysis I gained knowledge and information on how to maintain proper balance between customers’ needs and demands. On the other hand, effective value chain analysis gives detailed overview on how to make inbound and outbound process systematic so that customers can get the product in proper time (Union, 2014). The suppliers as well do not have to face difficulties in meeting the needs and of the customers.

            In activity 7, I watched clips on Clayton Christensen Polytechnique. This specific video clips is all about product sales. In order to run the entire process of business organization the business experts would have to increase their sales volume (Anderson, Poto?nik & Zhou, 2014). In order to render sales volume growth the organization needs to bring designed products and services so that customers from different geographical backgrounds and attitudes show their interest in using their services. In addition, the business experts in order to enhance their product sales intend to implement innovative and creative designs on the services.

Activity 8 is all about on how business organizations fail to launch their products and services in the particular business field due to the lack of promotional activities. In order to introduce new products and services the business experts have to face immense challenges in selecting the new media vehicle (França et al.,2017). It is however undeniable that without choosing new media platform the organization has to face immense challenges in introducing their brands in a proper channel. However, it is undeniable that before purchasing a product, the customers tend to gain in-depth knowledge and information about the reliability of products and services.

It is however undeniable those business experts are not effective enough in introducing their brand in new media platform due to which customers’ purchasing behaviour does not get influenced. Blog 11 has given me detailed understanding and knowledge about various tools of design. In this activity, I also had to take part in giving a brief presentation of three minutes. I got nervous which reflected on my body language and communication skill. After that Jai gave a detailed presentation about the justification of choosing this topic by highlighting the aim of main project. I have gone through a wonderful learning experience. I gained confidence from this presentation so that next time any kind of nervousness would not work on my body language.          

            After evaluating all the major activities it can be summarized that business innovation and creative product design is highly essential for rendering the success of an organization. With the help of an effective innovative model and technology the organizational experts can find out the ways of maintaining sustainability (Leih, Linden & Teece, 2014). As a result, both the service providers and service users need to maintain effective rapport for making the entire flow of business work systematic as per this current market scenario.

Critical analysis of personal development:

            Critical analysis is the way of evaluating a concept by involving arguments of different eminent scholars (Martins, Rindova & Greenbaum, 2015). In this specific part I have made in-depth critical analysis on 8 major activities discussed above. In this very specific analysis I have identified the areas of my personal as well as professional development scopes. I have gained detailed knowledge about business innovation techniques and its knowledge. Business innovation model helps in developing innovative ideas within business process.

Among different model of innovations I have gone through in-depth knowledge and experience on 4ps model of innovation, collaborative model of innovation, open model of innovation and so on. Open model of innovation as per my point of view is very much systematic and effective with the help of which the business experts can transform the messages from one particular area to another. Open business model cannot impose the business experts in following a particular business policy (Hogan & Coote, 2014). As per the business environment and scenario, open business model helps the business experts in dealing with the business issues in different way (Saebi & Foss, 2015).

            From the above mentioned activity I got detailed overview about brainstorming and its various aspects. I got to know on how brainstorming method can resolve an identified business problem in a systematic way. Brainstorming is a systematic method of making group activities with the help of which one specific problem is aimed to reduce and solve. In my own professional career I have observed that I had to attend session in order to make an effective group communication in quest of resolving a proper research issue. In addition, in a group communication I get the scope of sharing my own point of view regarding the success of business.

By exchanging various thoughts and ideas with my colleagues I have collected innovative business ideas that I can incorporate within my professional career. I have gained immense knowledge on value chain analysis and its major significance. Effective value chain analysis is very much significant in reaching the products to proper destination. As a result, both the services providers as well as service users can provide equal respect and dignity. However, in this very specific part, I have made detailed overview on how these lessons gained from various activities can enhance my personal and professional development.

            While attending group session I had to communicate with the employees associated with the session. In this very specific group communication faced major difficulties in sharing my point of views due to the lack of competency. My lack of competency is communication barrier. I feel hesitated in communicating with those people who belong to racial or other cultural backgrounds. However, in this kind of situation I had to face major difficulties in improving my personal and professional career. However, in quest of enhancing my communication skill I need to take a major initiative so that I can interact with all people belonging to organization effortlessly.

I have also observed that the business entrepreneur in order to gain effective innovation process within business tends to adopt innovation models and technology. I gained knowledge and information on how to maintain proper balance between customers’ needs and demands. On the other hand, effective value chain analysis gives detailed overview on how to make inbound and outbound process systematic so that customers can get the product in proper time. It is undeniable that before purchasing a product, the customers tend to gain in-depth knowledge and information about the reliability of products and services (Bocken et al., 2014).

            While evaluating my professional development skill and competency I have observed that I am not competent enough in operating advancement of technology. As a result, I am facing innumerable challenges in handling any kind of sudden technological barrier. This specific flaw is highly hampering my professional career. I have however observed that technological competency is one of the most effective needs and desires for surviving in the professional field. In order to enhance my professional skill and competency level I will have to take effective initiative in enhancing my technological competency. I have learnt from the above mentioned activities on how effective leadership style and theory can render business innovation.

            Among different types of leadership theory I have adopted motivational leadership theory in order to encourage the employees towards the services. By implementing rewards and recognition policy as well as compensation benefit I tend to motivate the employees towards services. As a result, employees show their courageous attitude in performing well. On the other hand, it has also been observed that participative form of leadership theory is very much effective in maintaining organizational productivity (Carayannis, Sindakis & Walter, 2015). Employees get the opportunity to share their views and thoughts.   

Action Plan:

            Before making an action plan on my professional development I have identified my drawbacks as a performer:

• I have communication barrier due to which I cannot interact with the people of various geographical and cultural backgrounds
• I need to develop my skill and competency on technology as well due to which I fail to handle technical barrier
• I need to develop my management skill and decision making skill as well with the help of which I can render proper business innovations

Based on my drawback I have made an action plan specifying the areas of improvement:

Analysis:

            After making an in-depth action plan it can be stated that I need to develop an effective communication plan and for that reason I have decided to receive effective training and development session. An appropriate training and development session is very much effective in enhancing my communication skill. With the help of a proper training and development session I can properly communicate with my colleagues. As a result, the customers would feel good in communicating with me. On the other hand, in order to make the entire business flow faster and systematic I need to develop my technological competency. With the help of an effective training session, I can enhance my knowledge and control sudden technological barrier.

            It is however undeniable that people do not have to face difficulties in getting in-depth overview about products and services due to the lack of experience. However, after taking an effective training on management skill and competency I have developed my managerial competency as well. With the help of an effective participative form of leadership style I do not have to face challenges in making collective business decision. Therefore, I have decision that I will bring product innovation and product diversification within one year.

In order to receive training session I need to arrange training hall along with an expert trainer. In the real business scenario, it is difficult to organize training due to the lack of economic strength. As a result, I will have to focus on gaining organizational profitability. With the help of a proper action plan I have decided to overcome my drawback so that I can see a prosperous future path in my entire career. I have also intended to hold a higher position as well in my organization. s

Future Scope:

            After evaluating the entire study, I can say that I can render little bit amendment on my action plan for getting more prosperous future. I have to attend training session for the purpose of design and innovation as well. I have personally felt that people have to face immense challenges in making the entire business organization successful due to the lack of innovative knowledge on product and technology. I have observed the practical case scenario on Nokia and Blackberry as well. With the help of an effective design and innovation plan, I would be able to render uniqueness on product features as well as services. As a result, both the customers and the service providers can maintain a good rapport with each other.

            On the other hand, on the business accounting software I can focus on rendering innovation. I can use global accounting software with the help of which I can hire foreign investors. As a result, the economic growth of my own business organization will be automatically strong. My organization should be implementing textile technology in rendering innovative designs on products and services. Design plays a vital role in attracting the attention of large number of customers from various geographical and psychological backgrounds.

However, for better future scope and career growth I need to attend career progression plan along with training session. As a result, I can easily fulfil needs and demands of the customers belonging to various geographical backgrounds and attitudes. At the same time, these additional knowledge and experience would help me in holding higher position in future. Technological competency would help me in enhancing my knowledge on handling work pressure as well as organization database. Both the customers and the service providers would get equal benefit and facilities.

Conclusion:

            After the entire evaluation, it can be concluded that analysis on 9 creative design activities has critically evaluated about various business innovations by involving the opinion of different eminent scholars. Business innovation can ultimately gain competitive advantages in current market scenario. The study has analyzed that design plays a vital role in attracting the attention of large number of customers from various geographical and psychological backgrounds. Brainstorming is a systematic method of making group activities with the help of which one specific problem is aimed to reduce and solve. Value chain is one of the most effective parts of supply chain process.

            The study has analyzed that effective value chain analysis gives detailed overview on how to make inbound and outbound process systematic so that customers can get the product in proper time. In order to render sales volume growth the organization needs to bring designed products and services so that customers from different geographical backgrounds and attitudes show their interest in using their services.

However, it is undeniable that before purchasing a product, the customers tend to gain in-depth knowledge and information about the reliability of products and services. Based on the activities an effective critical analysis of the reflection has also been conducted. At the same time, the study has provided detailed analysis on my personal development by identifying the areas of my flaws.  I have made an action plan and evaluated the areas of my improvements.

Reference List:

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