Internationalization Innovation and Entrepreneurship Free Samples

Question: Discuss about the Internationalization Innovation and Entrepreneurship. Answer: Introduction The aim of this report is to provide an understanding of the innovation and entrepreneurship in management. Moreover, the report analyses the importance of the innovation and entrepreneurship for the business as well as the business practices of Harvey Norman. In addition to this, the report describes the effectiveness, improvement in the quality and outcomes of the company that will be helpful for the innovation in the entrepreneurship. Along with this, the report focuses on the application and utilization of the innovation business strategy for the setting of the business of Harvey Norman. In a business, entrepreneurs made various changes to take various opportunities in the different services and business with the help of innovation management. Along with this, there is a high level of overlap between the entrepreneurship and innovation. The term of innovation in the business can be considered as the incremental and radical. Radical innovation refers to the discontinuous, original, pioneering, path-breaking and many more (Brem, 2011). On the other hand, incremental innovation refers to the small improvement within the business that can increase the business process, service and products. In addition to this, entrepreneurship refers to the fields that study the activities, characteristics, the economic and social effect on the behavior of the employees. Along with this, Innovation encompasses the process of the business by which firms become masters and get into the product design as well as the process of manufacturing that is new to the company. The innovation within the organization requires three basic components i.e. entrepreneurship capacity, infrastructure, and capital that required by the organization if the company needs commercial success (Crumpton, 2012). Along with this, the economy of the country is survived because the leaders of the industry will able to change their system as per the needs of customers as well society. Innovation and Entrepreneurship produce a financial gain in the business to keep the economy and organization profitable. Importance of Innovation and Entrepreneurship Innovation plays an important role in the Entrepreneurship in the highly competitive world. The term innovation is a key for the long life of the business. There are some factors that have been followed by Harvey Norman for the innovation and entrepreneurship, which can be described as below- The company matches their employee with the problem-solving approaches and experience that will help to increase the thinking process of the employees to handle the situation more innovatively (Drucker, 2014). Harvey Norman gives their employee various task and certain problem and has to solve the particular problem in numerous ways. In addition to this, it is important for the company to make their employees be challenged a little bit more in every day. Innovation in the organization is important to find a healthy balance with the income and expenditure in the organization. The employees of Harvey Norman are more innovative in the business when they will do work with the method, which they would like to use in the organization. In the company, if the method of working is difficult for the employee than it can contain the innovativeness. In this situation, if the company allows the employee to task differently than negatively of the product can be avoided (Franz et al., 2011). On the other hand, for the innovative progress in the entrepreneurship, it is effective to take breaks by the employeefrom the various projects, and problem-solving approach because when the break is taken than the mind of the employee should regroup and innovative ideas can strike up again in the mind. Diversity within the employees allows them for a creative mind to solve the problems. It is important for the employee of Harvey Norman to listen to the various approaches to build innovative thinking process (Onetti et al., 2012). Diversity of the employees can help the Harvey Norman and their employees to reach the future innovative capacity. Harvey Norman provides a safe environment in the business by which an employee feels safe in the environment that will help them to introduce more creative ideas. The employee should encourage the managers and co-workers that will make the employee feel happy and safe (Szirmai et al., 2011). It is helpful for the employees of Harvey Norman that they can think freely and innovative without any judgment. Innovative in an entrepreneur is going along with the encouragement. There are various teams in Harvey Norman that should work creativity and it also allows other to discuss their ideas with the multiple people in the business (Tidd and Bessant, 2014). In addition to this, organization support in the innovative business will helpful in the business practices that will also increase the level of confidence of employee. Improve effectiveness, quality, and outcomes of Harvey Norman by Innovation and entrepreneurship Innovation and entrepreneurship are known as a key building block within the dynamic and competitive economics. Countries and regions with the more vibrant innovation and entrepreneur system will tend to increase the productivity rates and also lead to increase economic growth. Harvey Norman innovation is known as key drivers for the overall growth that will increase wages and employment in the organization. Innovation and entrepreneurship are important in Harvey Norman to address various challenges i.e. shared prosperity, inclusion, and sustainability. It will increase the productivity and dynamism within the business of Harvey Norman (Priem et al., 2012). Along with this, innovation within the company significantly contributes to the employment growth and also increases the productivity and competitiveness with the help of introducing more innovative products and service. Overall effectiveness, quality, and outcomes of Harvey Norman depend on the various internal and external factor and effect on the factor at the every stage development of the enterprise. Internal factors include the capabilities of the entrepreneur as well as the capacity of the firm for innovation. Along with this, innovation is helpful for the healthy success of the organization (Trimi and Berbegal-Mirabent, 2012). The innovation system within Harvey Norman has been made with the help of development institution, human capital, financial capital, legal and regulatory environment, innovative culture and many more. The innovative new ideas play a crucial role in the business that will helpful to improve the process, product, and service within the market. The application of innovative techniques within Harvey Norman will able to improve its efficiency, and most importantly it will increase the profitability level of the business (Audretsch et al., 2011). For the application and use of innovation within the business of Harvey Norman, the company should analysis the marketplace by which the business move forward and also understand the values that can be added to the customers of its organization. The company should identify opportunities for the innovation in that is adopting for the product and services because the marketplace is continually changing (Audretsch and Link, 2012). In addition to this, the company should introduce new technology and working practices that will consistent for the more innovative and quality product. Conclusion From the above discussion, it can be concluded that innovation and entrepreneurship essential for the successful in the sustainable business practices. The report provided an overview of the innovation and entrepreneurship as it is related to the sustainable practice of the business. it is analyzed that innovation and entrepreneurship is a mindset that is helpful to take a particular approach for doing things. The organization was able to improve the efficiency and profitability with the help of proper use and application of innovation and entrepreneurship. In addition to this, innovation and entrepreneurship have been considered as a key building block for the dynamic and competitive economics. Moreover, innovation and entrepreneurship were important for Harvey Norman to address various challenges such as shared prosperity, inclusion, and sustainability. As per the above analysis, it is identified that innovation and entrepreneurship is responsible for the rapid growth of the industry with the help of convergence of technology. Innovation is important for the systematic abandonment of the social policies within the business. Recommendation From the above discussion, it can be recommended that Harvey Norman should focus on the innovation and entrepreneurship to enhance the business practices. In addition to this, innovation and entrepreneurship program operates unique basis by the firm as well as the individual that will provide a range of support to the clients of the organization. Along with this, the organization should identify their current performance, growth opportunities as well as innovative entrepreneurship that will helpful to access the technology and management. In addition to this, the report recommended that the company should design the target solution that will helpful to promote overall productivity and growth of the business. Moreover, Harvey Norman should design the strong policy and also governance the effectiveness of the policy. The organization should engage globally with the key stakeholders that will helpful to improve the outcomes in the environment. Reference Audretsch, D. B., and Link, A. N. (2012). Entrepreneurship and innovation: public policy frameworks, The Journal of Technology Transfer, 37(1), 1-17. Audretsch, D. B., Falck, O., and Heblich, S. (Eds.). (2011). Handbook of research on innovation and entrepreneurship. US: Edward Elgar Publishing. Brem, A. (2011). Linking innovation and entrepreneurshipliterature overview and introduction of a process-oriented framework, International Journal of Entrepreneurship and Innovation Management, 14(1), 6-35. Crumpton, M. A. (2012). 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