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Running Head: ENTREPRENEURIAL CHANGE
In order to continue succeeding, our organization has to come up with mechanisms that can be
applied when there is a need for correctional strategies with regard to the entrepreneurial practice
we have in place. In the form of a business plan, this paper will aim to address the board of
directors on how they can revitalize the organization through some well thought out innovative
Missed opportunities for innovation which have negatively impacted the organization.
The following are some of the factors that have worked towards ensuring that opportunities for
innovation are not tapped into as they should have been in the first place. This translates to the
fact that all these opportunities are missed in their entirety and therefore to some extent impeding
the growth of the organization in some angles. They include the following;
Unavailability of a department in charge on innovation- The fact that there is no department
whose main job is to deal with matters related to creativity and innovation has contributed to the
increase in cases of missed opportunities that have also gone a very long way to impacting the
organization in a negative way. The missed opportunity that comes from lack of a department in
charge of dealing with this matter, means that the opportunity for the organization to use bright,
creative ideas in making its operations even better is gone and what remains is the fact that the
organization has to stick with the methods it uses, and this could cause side effects such as the
organization remaining stagnated for some longer times.
Innovation measurement and reward systems for existing employees
In order to have all the employees on board with the idea of making sure that the levels of
innovations are increasing and creativity is promoted, they will need a source of motivation and
drive. It is for this reason that there are innovation measurement and reward systems for existing
employees. These measurements include the following;
Rewards for innovators- The first measurement would be to make sure that there is a system in
place that rewards any employee who comes up with an innovative idea. This would mean that
there are a layout and a framework for rewarding employees who come forward with any new
and creative ideas.
This would go a long way to encouraging employees within the organization to think outside the
box and hence be more innovative and what this would mean in the long term is that the
organization benefits from an increased level of innovation. With this, it would, therefore, be
even easier to revitalize the organization through some well thought out innovative strategies that
correspond to this one.
Train employees on the importance of innovation-By making sure that the em...
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