Entrepreneurship and Innovation

Learning Outcomes:

1) Evaluate the philosophies and theories behind entrepreneurial behavior, incorporating the entrepreneurial personality;

2) Differentiate between entrepreneurs, techno entrepreneurs, serial entrepreneurs, intra entrepreneurs and minority entrepreneurs, and in addition critically review the similarities, differences and the methods of management of these different groups;

3) Critically assess an organization’s characteristics that facilitate the innovation process and apply techniques used in the development, evaluation and application of ideas and concepts with commercial potential;

4) Plan and implement activities which will establish an innovative environment within an organization structure;

5) Analyze a company’s strategic approach to innovation management including the company culture and the role of the individuals in the process and as a result recommend strategic changes to improve a company’s innovation management.

Assignment Objective

The objectives of this assessment are to: Evaluate the philosophies and theories behind entrepreneurial behavior, incorporating the entrepreneurial personality; Differentiate between entrepreneurs, techno entrepreneurs, serial entrepreneurs, intra entrepreneurs and minority entrepreneurs, and in addition critically review the similarities, differences and the methods of management of these different groups; Critically assess an organization’s characteristics that facilitate the innovation process and apply techniques used in the development, evaluation and application of ideas and concepts with commercial potential; Plan and implement activities which will establish an innovative environment within an organization structure; and finally Analyze a company’s strategic approach to innovation management including the company culture and the role of the individuals in the process and as a result recommend strategic changes to improve a company’s innovation management.

Assignment Tasks

1. Main Assignment:

Analyse the strategic entrepreneurship and innovation

management process used by your chosen company and the realities regarding entrepreneurship and innovation in Sultanate of Oman as a country and beyond. Students should select a local company of their choice which must be approved by the faculty.

2. Individual reflection

The Individual Reflection is based on the guest lecture by the industry expert.

MAIN ASSIGNMENT

The main assignment is broken down into two parts:

Part 1: Discuss the Characteristics and Dynamics of Your Chosen Organisation and how Oman policy of In-Country Value Addition (ICV) could be improved for maximum benefit to the particular company and Omani companies in general.

(LO 1 and 2)

Tasks:

1. Describe its background;
2. Describe its nature of decision-making;
3. Describe its degree of innovativeness.

Part 2: Analyse the strategic management process used by your chosen company to drive innovation. (LO 3, 4 & 5)

Tasks:

1. Discuss the strategic forces that initiate the entrepreneurship and innovation activities at your chosen company and where government support comes in handy in this whole process.
2. Describe the steps in the strategic entrepreneurship and innovation process used by the company and Key Success Factors.
3. Critically discuss the measures used to determine the success of the aforementioned innovation and entrepreneurship initiatives and where higher education comes in as facilitator and promotor.
4. Analyse the factors key to the successful innovation and entrepreneurship by women in Oman and what hurdles they face along the way and possible mitigating measures.
5. In your opinion what major challenges are faced by SMEs (any two), and what would be appropriate government or business interventions to deal with them?

Sample Solution