The Rationale for Innovation in Entrepreneurial Organizations (Essay Sample)

The Rationale for Innovation in Entrepreneurial Organizations
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The Rationale for Innovation in Entrepreneurial Organizations
Global entrepreneurial behemoths like Google, Amazon, and Alibaba are pioneers in the adoption and exploitation of innovation to fuel their businesses. They attest that entrepreneurship combined with innovation is the recipe for expansion, diversification, and growth. They organize, manage, and take business risks in order to sustain and grow their business. To revitalize a business, innovation refers to the birth of new ideas to solve existing problems through new products, services, and work dynamics. As a result, an entrepreneurial organization solves existing problems (products, work dynamics, or services) by mobilizing, organizing, and managing its workforce to generate new ideas and products that help it better manage its business risks. In a highly competitive global economy, these organizations innovate to manage change, compete competently, achieve proficiency, and produce disruptively innovative products and services.
* Change Management
Technology and workplace dynamics are