Entrepreneurship Use Innovation In A Right Way Essay

Entrepreneurship, a construct believed varies from individual to individual, and it is difficult to state which 1 is right. But I must state I believe this position: the debut of new economic activity can do the market alteration ( californium, Herbert Simon in Sarasvathy, 2000, pp. 2,11 ) from the deep of my bosom. It means a good entrepreneurship needs non merely good inventions, but besides a right manner to utilize them in the market.

And I figure “ Firm and market newness of economic activities ” mentioned in & lt ; What is entrepreneurship? & gt ; written by Davidsson, P. ( 2004 ) impressed me a batch. The true entrepreneurship, harmonizing to the author, is doing some sort of differences in market place. “ New offer ” is decidedly an of import portion of entrepreneurship, and it does non necessitate any farther account. And what I want to state is the construct: geographical market enlargement ( Davidsson, P. 2004 ). Make something new to the market is the psyche of true entrepreneurship, even the action is non an invention in the industry.

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As we all know, Mark Zuckerberg, the mastermind laminitis of the most celebrated and successful societal web Facebook, he non merely set up his ain web imperium but besides a wholly new industry. Mark got a great thought, saw a fantastic chance, knew what he should make, took his clip and got the occupation done. Obviously the work Mark did is an first-class theoretical account of entrepreneurship, but allow us see what the other cats did merely after Mark. One twelvemonth after Mark ‘s Facebook, Wang Xing, a pupil from Tsinghua University, built his 3rd website Xiaonei.com. When Wang studied as an international in abroad, he found a batch of his schoolmates keep contact with each other utilizing the Facebook. So after he finished his survey, Wang returned to China and started his proprietor concern with a few friends. They copied Mark ‘s societal web, but made it a Chinese edition, added some element easy for Chinese people to utilize and accept. Wang ‘s Xiaonei.com became so popular and even beyond his exclusion. It is easy for us to state that, to the societal web industry, Wang did nil can be called “ new ” ; but to the china domestic market, Wang is a “ new offer ” .

On the base of geographical market enlargement, invention purposes at certain geographical market is really of import. As what I have mentioned above, the mark client of Xiaonei.com is university pupil. It offers a batch of specialised service, for illustration, a really complete and powerful university list of all over universe. With the aid of the list, the user can happen old schoolmates expeditiously. And, of class, true name and caput portrayal system. At the same clip, another societal web, kaixin001.com, was launched softly. The laminitis, Cheng Binghao, worked as a white neckband. He defined his chiefly user as company adult male, and offered them a immense figure of on-line games to assist them kill clip.

So we can do a short decision here that the key to entrepreneurship is invention, but the invention should turn its way to market.

The sentence Entrepreneur are non merely timeserving ; they are besides originative and invention written by Haward H.Stevenson & A ; David E.Gumpert ( 1985 ) in & lt ; The bosom of entrepreneurship & gt ; inspired me a batch. This is a much higher degree which compared with mere geographical market enlargement. Let ‘s speak about Steve Jobs and his iPhone. Steve launched merely one merchandise but changed the whole nomadic communicating industry and even people ‘s life manner. The celebrated sentence “ We want to reinvent the phone ” non merely means the birth of a wholly new merchandise but besides a new demand, a new chance. Before iPhone, cipher realized that they have so many demands for a nomadic phone. High quality camera ; voice mail ; internet surfboarding ; pilotage, 1000000s of apps ; a phone can be about omnipotence. That can be called invention and entrepreneurship.

The author besides mentioned some really interesting differences between decision maker & A ; enterpriser. That makes me believe of my money-making exercising. Making 900 kronas in 6 hours should be considered as a sort of success. But it is clip for me to look back and happen out what can I learn from it. When my group got the 50 kronas, the first thing came in my head was non the paper with a adult female ‘s caput on it ; but the other resource I need and the manner to get them. Finally I figured my individuality, a university pupil, should be a sort of advantage to utilize in my concern. I can borrow the resource from university, and the following twenty-four hours ‘s 5 proceedingss ‘ presentation was the best resource I could utilize. Then we decided to turn the presentation into a commercial clip, and acquire money from it. And that is called “ enterpriser learn to utilize other people ‘s resources good ” by Haward H.Stevenson & A ; David E.Gumpert. And I think that is why we made a good concern.

After discussed about entrepreneurship, it is highly necessary for us to do a deep survey about the people who carry out the entrepreneurship actions, the enterpriser.

James W. Carland believed that enterpriser is different from little concern proprietor ; besides entrepreneurial venture is different from little concern venture. And the key to separate these two construct is advanced strategic. But really I think the effort to do a clear differentiation between little concern venture and entrepreneurship venture is nonmeaningful. First since the market is ever altering, little concern venture must run into some crisis during some difficult period. And if the little concern proprietor want to salvage his company, it is decidedly necessary for him to seek some new schemes to acquire through the difficult clip.

For illustration, some little eating houses use price reduction voucher merely like KFC and McDonald to pull consumers in off season. Compared with traditional concern theoretical account, it is a sort of new schemes, but can non alter the fact that they are still little concern ventures.

Second, some little concern ventures besides use advanced scheme to derive more net incomes.

The most interesting narrative I knew is a husbandman who lived in a small town and since the monetary value of apple was truly high in the market, all the villager decided to works apple following twelvemonth. This adult male thought if the supply of apple become high, the monetary value must travel down. So he did non merely follow the others to works apple. And to most people ‘s surprise, he felled a batch of bamboo from wood and made a batch large basket. Year passed, the apple got a good crop, but since there were excessively many apple in market, the monetary value go really low. At same clip, since all the apples had to be transported, the demands of basket become really high. So the famer got immense sums of money. But after that, the adult male stills a husbandman. We can easy state that the husbandman as a little concern proprietor did utilize some advanced schemes to acquire the net incomes, precisely like an enterpriser.

However, even the best enterpriser in the whole universe needs to take the entrepreneurial chances to make new procedures, new merchandises, new markets, and new ways of forming. At this minute, acknowledging an chance and prehend it go highly of import. But in some circumstance, even the best company in the universe can non take the chance and bit by bit diminution.

For case, the former giant in movie industry Kodak beaten by the digital revolution and filed for bankruptcy in January this twelvemonth. After release the intelligence, the whole concern universe was shocked. People asked what went incorrect in this 128-years-old company and what grounds behind them. Some said that Kodak failed because it was non advanced plenty, stood still and refused to do advancement. But really, Kodak became the first company to do a digital camera in1975, long before the digital age. It was truly a antic machine at that clip. And the failure of Kodak is decidedly non because deficiency of invention. In my sentiment, Kodak failed to acknowledge the possible market chance of digital camera lead to it concluding bankruptcy. They let their genius innovation died in the lab instead than had a attempt in the market.

The direction bed said they did that because the fright of killing its all important movie concern. An invention can non turn into net income if it non be putted into the market, no affair how great it is. But what sort of invention should and could be accepted by the clients is the top inquiry of every enterpriser. Kodak believed that people still need to publish out their exposures and set them in their exposure frame as a lasting memory. But with the rapid development of Internet particularly societal web, more and more people take exposures merely for portion them with their friends. Photos by and large became a sort of bearer of single individuality and tool for communicating. Peoples want take exposures with low cost and with easy transmittal signifier, they no longer necessitate to publish their exposures out and it killed the nucleus concern of Kodak.

We can see from Kodak ‘s failure that invention is really of import to a company but it is non everything. How to convey it into market and maximise the net income is the nucleus work of all the enterprisers.

Some bookmans ask “ Dose entrepreneurial experience influence chance designation? ” ( Deniz Ucbasaran et al. , ) I believe the reply decidedly is “ Yes ” . Think about Nokia, whose public presentation declined evidently these old ages in smart phone market. Most people believe that Nokia started diminution merely after the visual aspect of iPhone. iPhone become win because it provides users an Internet nomadic terminus instead than a phone. What ‘s more, the launch of AppStore and sharing the committee with all developers make the users of iPhone can take 10s of 1000s of high quality Apps. Faced with this revolution in nomadic communicating industry, the first company involved in is Google and Andriod mobile phone system, an open-source operating system. But at the same clip, Nokia still want to do a good and tough phone usage its ain system Symbian — -with fewer plans to take. Nokia felt iPhone would failure in a short clip because it was easy to interrupt, much different with their former experience about clients. When Nokia figured out what happened in the market that was excessively late.

The enterprisers of Nokia thought they knew their clients ‘ demands based on their old experience, and made some determinations. Unfortunately, these incorrect determinations cause the company to neglect.

What Amar Bhide mentioned in & lt ; The inquiry every enterpriser must reply & gt ; aroused my involvement. Although viing in the same industry, companies did non germinate in the same manner. Different companies use different schemes to vie with their rivals.

As we all know, the competitions in decorative industry is really ferocious and if a company privation to last in this combat, its enterpriser must utilize some alone schemes. For illustration, The Body Shop, which used a really exceptional competitory schemes called “ all natural ingredients ”. This distinction scheme helped the company acquire immense sums of loyal clients, and higher rate of net income. During the same clip Procter & A ; Gambler Co. , and L’oreal Group established multi-brand scheme. Use this scheme, these large concern groups can acquire good quality and low cost at the same clip. This scheme can assist them to acquire most portion of the market portion.

All of these three companies were really successful in decorative industry, but we can see the enterprisers of them use invention in different ways to win the market.

Although the definition of entrepreneurship is truly difficult to supply, in my present sentiment: Invention is the key for enterprisers to success in ferocious competition, and the key to entrepreneurship is use the invention in a right manner.


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