Question

Answer in paragraph form:

Strategic entrepreneurship, and the innovations that follow, is recognized as an extremely important leadership activity. Review the opening case: Entrepreneurial Fervor and Innovation Drive Disney’s success. Discuss methods that management can employ to incorporate an entrepreneurial spirit and innovation into organizations.

Answer 1

The statement "Strategic entrepreneurship, and the innovation that follows, is an extremely important leadership activity" is right. Entrepreneurship followed with innovation is the key to seccess for any existing business now a days, we can justify this by reviewing and discussing the famous open case: Entrepreneurial Fervor and Innovation Drive Disney's success. The pen case shows how the entrepreneural mind can lead to success, when Disney company bought big business for their greater good, companies like Pixar, Lucasfilm, Marvel Entertainment and many more.

When we think about the term " Entrepreneurship" we think the new business started by someone and thats it. this is the point where we go wrong, Being an entrepreneur does not means having a single idea and launching a business and then thats it, no Entrepreneurial mind should never stop imagining and innovating. That is the biggest lesson a business can learn from the open Disney's case, They never stoped reaching for the top, they never stop innovating, after being so successful Cartoon company and a theme park owner they did not limit themselves there, they acquired ig companies and partnershiped with others to climb up to the top.

A business can motivate the entrepreneurial spirit and innovation into the organization through many ways, some are mentioned below:

• Due Credit: Most of the times employees keep their ideas and suggesions to themselves because they don't get the credit that they deserve.
• Special programs: Companies can arrange special programs and events where their employees can showcase their ideas and innvations
• Monetary incentive: Although giving credit where it is due is importent but providing employees with rewards in the form of money is also very importent.
• Easy delivery: Presenting one's idea should be so easy that it gives an indirect push to new ideas that might prove to be gold.
• Calculated risk: There should be some room for calculated risk, because without risks there is no entrepreneurship.
• Reward equal to the Innovation or Idea: If a emloyee have a iead one in a million then they should also get rewar one in a million, if he/she will hen and only then others will provide their one in a million idea. This can be done by making the idea holder partner or sharing profit with him/her.