According to Joseph Schumpeter (Schumpeter), an entrepreneur may innovate in the form of new products, new production methods, new markets or new forms of organization. However, entrepreneurship does not just involve owning a small business. Firstly, there has to be some innovation. Secondly, entrepreneurs take much bigger risk and the gains are much higher.
However, not all entrepreneurial ventures may be successful. The success of the business or idea depends on a number of factors. A lot of people have researched on different entrepreneurial setups and have looked into what makes an entrepreneur successful. In this research paper we shall analyze the process of entrepreneurship from different angles and identify the key factors which relate to the success or failure of the entrepreneurial venture.
The organization that we have selected for this project is Sony (SCEI). This is because Sony is quite famous for its innovative products and technologies. Over the years Sony has releases some of the breathtaking inventions of today and is considered to be a pioneer in developing new ideas. Sony is also famous for its entrepreneurial culture and environment which supports innovation within the organization. Further, the product that we have selected is their PSP Go, which is a unique handheld gaming console for kids and adults.
Sony’s Game business venture is made up of game software and consoles offered by the Sony Computer Entertainment Incorporation (SCEI).The current global digital lifestyle has lead to the innovation and evolution of portable digital games to match. Based on Sony’s Corporation five year strategy, (Sony’s Annual Report 2009, p.23), Sony Computer Entertainment unveiled PSP- GO (Play Station Portable go) in Tokyo on June 3rd 2009 which was made available in stores as from 1st October 2009.PSP go is a new evolution of handheld digital entertainment system, uniquely