Creation and Innovation in Entrepreneurial Venture

Creation and Innovation in Entrepreneurial hypothesisIntroductionIn relation to the exalt Futures put, entrepreneurship is about creative or innovative thinking and winning appropriate action that can enhance such innovative thoughts. However, prior to taking such an action, in that location is a need for a plan to image that an entrepreneurial idea transforms, for instance, into a viable and sure-fire mold or p bentage ventures (Watson, 2013). In this sense, an powerful and high-octane implementation of a drift or business venture entails the consideration of a number of factors. Among such factors, argon, for example, acquiring necessary skills needed for the advise or business venture and underdeveloped an sagaciousness of the key stakeholders in the project (Ives, 2005). Additional factors that whitethorn need consideration in the triumphful implementation of the shake Futures despatch include the need to bring in with a good spotment team (Cleland G areis, 2 006). To this end, this essay focuses on project focussing and teamwork and how pick uping from these devil topics has been utilise in the Inspiring Futures sound projection that I did. range and stakeholder managementIn any disposed(p) project, there is a need for the project managers to establish a proper plan that can locomote to the successful climax of the project. In this impact, some of the success factors that project managers need to embrace include effective communication processes, emphasis the projects mission, develop schedules and plans, setting objectives, ensuring stakeholder satisfaction and ensuring they have support from the top management one by one (Davis, 2014). On the same none, in any given project, stakeholder management is critical for successful completion. In this sense, it is primal for the project manager to focus on engaging the right people to ensure the project is not hampered as a result of conflicting interests between the management an d key stakeholders of the project (Muller Turner, 2007).On some other note, when undertaking a given project, it is important for the project manager to possess certain skills necessary to happen upon success with the project at hand (Kerzner, 2004). Such skills may involve, for example, communication, leadership, team management, negotiation, personal organisation and chance management severally (Mir Pinnington, 2014).Leadership, on the other hand, is a necessity to ensure project managers are separate fixed to not only lead other workers at the project site, but overly manage them in an effective and efficient manner (Turner Muller, 2005). With regard to team management, it is important for project managers to focus their help on promoting teamwork as a scheme to ensure operations at the project site are not hampered (David, 2005). As such, it is important for the project managers to develop a working(a) environment where teamwork is emphasised sooner than individual ism that may derail the completion of various projects on time (Aaltonen Kujala, 2016). As observed by Aaltonen and Kujala ( 2016), traditional project management denotes a focus on project requirements that are identified in the initial stage of the project. Subsequently, these requirements are then divided into manageable tasks. At this point the project managers are expected to develop a detailed plan for distributively task as a strategy to ensure the project goals are achieved in an efficient manner and fortunes related to the project kept lower. However, this regard of project transformation has contributed to project failures in different sectors. As such, Aaltonen and Kujala (2016) reiterate the need to diversify to prompt project management techniques where project requirements are expected to emerge and drive the project rather than exploitation the project plan, which in most cases may lead to pre-misunderstood outcomes. To this end, value need to be achieved by p roject end rather than a focus on defining them at the beginning of the project.Teamwork, managing people and the working environmentIn order for entrepreneurs to succeed in their business ventures, they need to work with an effective and efficient management team. In essence, some of the benefits associated with teamwork include enhancing creativity and learning. When people work together, they share a wide-eyed range of ideas that often contributes to the best alternative action. Further, teamwork also helps employees to improve and blend their talents in a complementary color manner. Teamwork also contributes to workers trusting one another, which in turn, contributes to a collaborative process between the top management and subordinates respectively (Kerzner, 2013).Further, teamwork contributes to the development of conflict resolution skills, which are necessary to ensure the progress of a business venture or project not deterred as a result of conflicts. Through an emphasis on teamwork, employees often develop a sense of ownership because the top management recognises their contributions. Teamwork further contributes to healthy risk taking as it encourages members to think beyond in terms of exploring ideas and implementing them with the hope that they can contribute to supportive results with the intended goals of the business or project at hand (Meredith Mantel, 2012).On another note, compared to starting a business as a sole entrepreneur, a start-up that involves partnership more than often is better hardened to succeed in the marketplace. This is because they are likely to share their skills and resources to survive in the marketplace. Conversely, a solo entrepreneur may face numerous challenges trying to survive in todays competitive and constantly changing marketplace. consort to Ives (2005), a focus on teamwork theory can play a role in developing an efficient and effective team to achieve the intended goals of the project. In this regard, it is important for the project managers to be familiar(predicate) with the stages of class development. On the other end of the spectrum, teamwork can encourage groupthink, which may lead to half-baked decisions out-of-pocket to greater emphasis on a collaborative process within the group. In this sense, while entrepreneurs shift their focus on teamwork, there is still a need to ensure that individual views are not overlooked as a way to strengthen group cohesion (Park, 1990).With regard to managing people, there are various leadership styles that entrepreneurs can embrace to not only enhance employee involvement but also achieve success with their intended goals (Eskerod, Hueamann Savage, 2015). For instance, a leadership style considered to reinforce teamwork is transformational leadership. This leadership style denotes the leader working with his or her followers to achieve the intended goals of the business. The working environment, on the other hand, needs to be conducive in terms of encouraging employee involvement rather than demoralise employees, who may in turn, butt against poor performance, and in extreme cases, leave for better opportunities elsewhere (Maak Pless, 2006).Using the learning in the Inspiring Futures Project I didThe Inspiring Futures Project I did regard how to improve social media platforms for Clever Students Lets. Implementing a project is a challenging process, and understanding the skills necessary to achieve a successful project completion is important. As such, the learning from the topic of project and stakeholder management played a role in ensuring that needs assessment is conducted prior to deciding on the best alternative for improving the social media platforms for Clever Students Lets. In order to understand the presenting needs related to the use of social media platforms for Clever Students Lets we used questionnaires to obtain first-string data from participants. Conversely, we obtained secondary data from re lated literature on how to improve social media platforms for a inspection and repair such as Clever Students Lets. As a result, the needs assessment we conducted relied on both basal and secondary data that ensured we selected the most suitable alternative to improve the social media platforms for Clever Students Lets (Aaltonen Kujala, 2016).The learning on managing people, on the other hand, and with regard to the Futures Project assisted in the sense that we were better placed to learn about effective leadership and its importance in completing the successful completion of the project (Turner Muller, 2005). Factors we considered, and advised by the learning from the topic of managing people mixed understanding our strengths and weaknesses to ensure the decisions we made regarding the project involved a collaborative process. Some of the skills we embraced included, for instance, accommodating the views of each member in terms of deciding on the most suitable course of actio n to improve social media platforms for Clever Students Lets (Project counseling Institute, 2013). Further, through an understanding of the skills associated with the planning and implementation of a given project derived from the two topics, the group and I were better placed to consider all the success factors that would ensure the Clever Students Lets become a success. Some of the success factors that we considered for the Inspiring Futures Project included proper planning and teamwork, effective management of the presenting risks, and successful project completion (Matta Ashkenas, 2003).With regard to the best improvement for the social media platforms used by Clever Students Lets, an emphasis on teamwork as inform from the learning was necessary to brainstorm the most suitable action to take. Such a focus contributed to the collaborative decision to settle on snapshot account as ideal for Clever Students Lets. The process involved weighing a number of options by relying of t he contribution of each member in the group on the benefits and risks of the available course of action that would improve the social media platforms for Clever Student Lets. Conversely, in ensuring that the project succeeded, the group also focused attention on embracing effective leadership with participants involved in the project. For instance, to encourage the active participation from group members we emphasised a hands on approach where we worked closely with each other to ensure the project becomes a success in terms of improving the social media platforms used by Clever Students Lets (Northouse, 2004). Further, in order to create a positive work environment, the group deliberated on trusting one another, set achievable goals for the project, carried out regular meetings and shared information and knowledge respectively (Whetten Cameron, 2011).ConclusionThe success of an entrepreneurial venture entails focus on creative or innovation thoughts to ensure the initiatives or pl ans that entrepreneurs introduce in the marketplace become a success. In essence, implementing such creative thoughts is mostly dependent on a number of factors that have an influence on the business or project progress. 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