Entrepreneurial Organization and Small Businesses
How I will encourage my employees to think like entrepreneurs
I will promote my employees on new ideas; this will help them have an open mind that will foster them to feel like entrepreneurs. Encouragement of new ideas will help them gain curiosity about doing things that would help the organization to make development. I will create an environment that fosters creative thinking. The working environment will help create an atmosphere that will compel them to have the innovation of things and ideas that are beyond the business. Similarly, I would encourage autonomous thinking; this will help my employees to take the company as their entities to build a strong foundation and new ideas that would benefit the firm (Acs, Åstebro, Audretsch, at el.,2016). Thus, having a clear understanding and culture of the firm employees will have time for them to think like entrepreneurs. Additionally, I will facilitate networking opportunities; this will help to develop teamwork that will help have shared ideas and making new moves for entrepreneurial thoughts.
How I will identify, select and evaluate potential breakthrough ideas
I will be challenging things on how they happen and why they should be done in the manner that they are planned (Kaplan & Vakili,2015). Through challenging ideas, I can see an important aspect that will help me in business growth. Through the selection, I will look at the most urgent aspect that needs to be controlled and taken care of so that I can be able to make priorities of events that will take place. I will encourage autonomy; this will help me have the collaboration of all the staff so that they can help me know exactly which idea is best to implement in the business. I will take standards of evaluation to help me make a rational decision that will help my business to thrive positively.
My system for ongoing monitoring and assessment of the external environment
My system of monitoring and assessing environmental factors will be based on ensuring that the business has adapted to the ecological systems of the area my business is operating (Guerra-López & Hicks,2015). I will monitor government policies that keep changing so that I get updated on the changes that are taking place through the policies. I will ensure I have controlled competition that my business face by ensuring I provide what my clients want. Through my monitoring and assessment system will help me have all the aspects that would be affecting my business.
Reference
Acs, Z., Åstebro, T., Audretsch, D., & Robinson, D. T. (2016). Public policy to promote entrepreneurship: a call to arms. Small Business Economics, 47(1), 35-51.Retrieved from: https://www.sciencedirect.com/science/article/abs/pii/S147281171500018X
Kaplan, S., & Vakili, K. (2015). The double‐edged sword of recombination in breakthrough innovation. Strategic Management Journal, 36(10), 1435-1457.Retrieved from: https://onlinelibrary.wiley.com/doi/abs/10.1002/smj.2294
Guerra-López, I., & Hicks, K. (2015). The participatory design of a performance-oriented monitoring and evaluation system in an international development environment. Evaluation and program planning, 48, 21-30.Retrieved from: https://www.sciencedirect.com/science/article/abs/pii/S0149718914000998