Entrepreneurship and Innovation - Assignment Example

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Entrepreneurship and Innovation

This essay discusses that entrepreneurial strategies are bound by very idiosyncratic environment, imposingenvironment imposing certain basic limitations on their strategy designs. The strategies of entrepreneurial marketing are the same as those in the conventional marketing. The entrepreneurial organizations are resource constrained organizations because they do not approach the mass media to launch their products or campaigns. They have limited financial, human and technical resources. But they do have creativity and time which they use as resources to accomplish their management and marketing goals. The meaning and significance of the barriers to growth of entrepreneurial business are highlighted by the fact that entrepreneurial business is mostly surrounded by lack of monetary and, financial and technical and man power resources in the initial and early stages of its development. Despite these facts entrepreneurs are surrounded by barriers that limit their growth and financial stability. From the foregoing discussion and analysis, the researcher can conclude that entrepreneurial firms are surrounded by certain growth barriers peculiar to their stage of business development. These barriers are mostly related to manpower, material, technical and eventually financial in nature. These barriers hinder and impede the growth and expansion of entrepreneurial business and if an entrepreneur sets in motion a process of 4 Is as described, he can overcome the practical side of these barriers in most cases. ...Show more

Summary

This assignment is based on identification of barriers to growth of entrepreneurial firms which are in the initial set up phases. It identifies some of the peculiar limitations that these firms have and how do they overcome them in the process of application of their marketing strategy. …
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Entrepreneurship and Innovation essay example
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