The president of your company has recently announced the need for a greater effo

Question

The president of your company has recently announced the need for a greater effort to incorporate innovation and entrepreneurship into organizational strategy, and has asked you to list the requirements necessary for this to happen. You list the following requirements:

•Ongoing environmental monitoring

•An entrepreneurial climate

•Encouragement of entrepreneurial behavior

•A strong customer/stakeholder focus

Explain why each of these is important along with your plan for achieving them.

Submit your answers in a 4- to 5-page Microsoft Word document

Explanation / Answer

•Ongoing environmental monitoring

It is important to monitor the environment to make sure employees are comfortable with the organization. Keeping your employees happy is more important than keeping customers happy because your employees are going to handle the customer better.

•An entrepreneurial climate

Foster employees to become entrepreneurs, create committees on specific subjects and challenge employees to create a business plan for a new product, this is important to seek new lines of business.

Provide space and time for employee to develop entrepreneurial projects.

Create a program that will finance the project of the winner

•Encouragement of entrepreneurial behavior

Provide seminars about successful entrepreneurs to show the struggle they suffered before they were successful. Most people only looks at the money people has after their success but doesn’t realize that person had to fail hundreds of times before he could succeed

•A strong customer/stakeholder focus

The reason for a business to exist is to create utilities (unless is a social charity), therefore the employee must focus on building a good relationship with the customers that are buying the products or services of the company. It is important as well to be grateful for having the opportunity to work at the organization that is paying you by doing an excellent work

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