How an Entrepreneur Can Uild an Adaptive Firm

1.INTRODUCTION Innovation is essential to the success of a firm in todays business surround. Innovation is the lifeblood of the modern economy (Bridgman, 2001, p.1). Firms mustiness(prenominal) continue to become more and more adaptive and antiphonal to todays ever changing business environment if they atomic number 18 going to adopt. The purpose of this report is to explain how an entrepreneur locoweed build an adaptive firm that balances entrepreneurial characteristics with managerial style. By researching a number of entrepreneurial texts discussions consent been made on how this balance can be best achieved. This report begins by explaining the great immenseness of innovation and change, and also the great greatness of effective management. The many differences and similarities between entrepreneurs and managers argon outlined and discussed. mingled ways which change and innovation can be managed successfully while maintaining an adaptive and change responsive firm are then explored. These include the use of Lewins three phases of planned organisational change, the importance of realising resistance to change and the reasons for resistance, and finally the significance of using negotiable leadership styles in different situations.

Conclusions are then worn from these observations and discussions and are followed with a number of recommendations. 2.DISSCUSIONS 2.1THE NEED FOR INNOVATION The business environment that we operate in today is one of great scruple and continuous change. Over the past few decades New Zealand organisations have seen numerous and major advances in such areas as globalization of business, technology, legislation and probably most importantly the introduction of e-business. To succeed in this ever changing business environment firms must also be adaptive and responsive to change. Organisations and their managers must continually innovate and adapt to new situations if they are to survive and flourish over the long run (Shermerhorn,... If you want to get a full essay, order it on our website: Orderessay

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