Unit 20 Principles and Characteristics Leading to
Successful Enterprises
Introduction
An enterprise is a business that makes or provides product and services.
Enterprises can be small local shops or big companies that operate worldwide.
No matter how big or small they are, the basic things that make them
successful are mostly the same around all the business. This report will explain
these ideas, with examples, it will show what makes a business successful.
What is an Enterprise?
Enterprises are businesses that focus on making money. They do this by
making products or offering services, which they sell to based on the
customer’s needs and what do they want. A business starts when an
entrepreneur comes up with a creative idea and plans to start the business.
Entrepreneurs they build, run, and manage their businesses to earn money
from their ideas and also try to grow their business too. Usually, there are two
main reasons why entrepreneurs start a business.
What it involves in enterprise?
Identifying market gaps: The business needs to understand what the
customers’ demands are, because if there are a product which is not interest
by any customer it won’t get sell, instead it might bring downfall of a business.
For example, Apple recognized the market gap to make their smartphones
user-friendly, which help them to make iPhone in the market So, the business
can find the market gaps by taking survey and making report about it.
Creating markets: Creating a market might a changing but it is possible for
business to create new market, they have to know what the demands of the
customers are. They can apply the same strategy as other business are doing
but they have to do in unique way, so they get more new customers every day.
Apple did this with their iPad to create market for tablet and Microsoft make
the market with cloud computing service like Azure, which make demand for
scalable cloud infrastructure.
,Growing markets: Once the market is set up, now the business can come up
with different new ideas for products by making the current ones more better
and they have to find more ways to get the product to the customers. For
example, Apple they continuously introduce newer versions of the iPhone,
MacBook and Apple watch and Microsoft grow their market by introducing
windows OS across lots of computers with new features.
Increasing market share: The business can increase the market share by doing
so many things like giving competitive pricing, special offers or better customer
service by doing those the business can give competition with other businesses
and they can attract more customers. Apple, despite having premium price on
their product, they offer best user experience in their ecosystem so the users
can enjoy what they have paid for. Microsoft on the other hand, they give
competitive pricing and enterprise deals for their Office 365 and their other
products too, to expand their market to lots of users.
Becoming market leaders: For businesses to be leader in the market they need
to be at the top of other business. They can do this by continuously improving,
maintaining high quality and making good relationships with the customers to
stay head of the competitors. Apple is the leader in the smart phone market
because they do different innovation in different time and they make brand
loyalty for the users. Microsoft is the leader in software and cloud market
because they always bring new technology in the market for the users,
therefore they can make large enterprise partnerships with different company.
Skills and Capabilities Required of an Enterprise
An entrepreneur's skills and abilities are shown by how well they can start a
business or a company by building, and running a successful business, while
making changes to keep things going according to the plan. Here are some
important points which they may consider:
,- Expertise (entrepreneurial and technical): Entrepreneurial expertise
means to find opportunities for business and come up with new ideas to
manage the business and help to grow and succeed. It could involve in
skills like planning, leading a team, managing the market, and handling
challenges without any problem. Technical expertise is about
understanding the how the business will work based on what is the main
purpose of the business-like what product and services they going to
deliver to the customers therefore they needed the knowledge of build
their own product or service. To do those it may involve certain skills like
coding, engineering, or product design, depending on what your
business needs. For example, Steve Jobs entrepreneurial vison led Apple
to come up best products like the iPhone, which changed the whole
smartphone market, on the other hand Bill Gates thinking change the
Microsoft market, now they become the leader in software market with
their product like Windows and Office 365.
Pros:
Enhanced Problem Solving: Having both entrepreneurial and technical
skills, business owner can solve their business problems effectively. For
example, Steve used to have both of them like he used to understand
the market and he used to know when to bring new technology in
market, products he created everyone used to love it like the iPhone.
Innovative Product Development: By combining knowledge about
market with technical skills allows companies to create new and unique
products. Like Apple, they used this technique to develop the iPad and
the Apple watch by designing and using advanced technology into the
device.
Competitive Edge: Entrepreneurs who understand the technology, they
can adapt quickly to make changes in the company. For example,
Microsoft under Nadella, she adapted both business awareness and the
technical skills to shift to cloud computing, so the company stay ahead in
technology market.
Cons:
Risk of Over-Focus: Company owners might too focused on making a
perfect product instead of missing out the important areas like customer
relations or marketing. Jobs, for example, he was known for to focus on
, the design, which sometimes let Apple to delayed product launches.
Nadella also had to make sure that Microsoft focused on their customer
needs, not just technology only.
Time and Effort Required for Mastery: To build both business and
technical skills takes a lot of time. Steve Jobs at Apple, he spent years to
learn both like product and customer to create top products. Satya
Nadella at Microsoft, she also needed years of experience in both areas
to grow Microsoft’s.
Potential for Burnout: In a company balancing both business and the
technical work is not easy. Steve Jobs faced difficulty to keep Apple
innovating. Nadella also had to manage the stress for Microsoft because
if she want to make big changes at Microsoft she had to think lot.
- Enthusing and inspiring others: The business workplace needs to be in a
way that will help people to feel inspired and make them feel to be
excited about their work, also by helping them if they make any mistake,
which will help the business to grow towards its goal. Apple wants their
employees to be more creative and to come up with new ideas. At
Microsoft, CEO Satya Nadella’s has created an environment for their
employees to feed motivated.
Pros:
More Innovation: By creating a motivating environment, companies like
Apple and Microsoft, they encourage their employees to think of new
ideas in creative way like Apple’s focus on creativity which leads them to
make unique products, while Microsoft under Satya Nadella has
encouraged teamwork and creativity. Which helps these companies stay
competitive and grow in the market.
Better Employee Satisfaction and Retention: Inspiring work
environment, like those who work at Apple and Microsoft, make their
employees to feel valued and involved, which helps this companies to
stay till now. So, when employees are happy and excited about their
work, they’re more likely to stay in the company, which helps these
company to save time and don’t need to spend money on training new
people.
Higher Productivity: Motivating the employers often help them to work
and produce more for the company. For example, At Microsoft
Successful Enterprises
Introduction
An enterprise is a business that makes or provides product and services.
Enterprises can be small local shops or big companies that operate worldwide.
No matter how big or small they are, the basic things that make them
successful are mostly the same around all the business. This report will explain
these ideas, with examples, it will show what makes a business successful.
What is an Enterprise?
Enterprises are businesses that focus on making money. They do this by
making products or offering services, which they sell to based on the
customer’s needs and what do they want. A business starts when an
entrepreneur comes up with a creative idea and plans to start the business.
Entrepreneurs they build, run, and manage their businesses to earn money
from their ideas and also try to grow their business too. Usually, there are two
main reasons why entrepreneurs start a business.
What it involves in enterprise?
Identifying market gaps: The business needs to understand what the
customers’ demands are, because if there are a product which is not interest
by any customer it won’t get sell, instead it might bring downfall of a business.
For example, Apple recognized the market gap to make their smartphones
user-friendly, which help them to make iPhone in the market So, the business
can find the market gaps by taking survey and making report about it.
Creating markets: Creating a market might a changing but it is possible for
business to create new market, they have to know what the demands of the
customers are. They can apply the same strategy as other business are doing
but they have to do in unique way, so they get more new customers every day.
Apple did this with their iPad to create market for tablet and Microsoft make
the market with cloud computing service like Azure, which make demand for
scalable cloud infrastructure.
,Growing markets: Once the market is set up, now the business can come up
with different new ideas for products by making the current ones more better
and they have to find more ways to get the product to the customers. For
example, Apple they continuously introduce newer versions of the iPhone,
MacBook and Apple watch and Microsoft grow their market by introducing
windows OS across lots of computers with new features.
Increasing market share: The business can increase the market share by doing
so many things like giving competitive pricing, special offers or better customer
service by doing those the business can give competition with other businesses
and they can attract more customers. Apple, despite having premium price on
their product, they offer best user experience in their ecosystem so the users
can enjoy what they have paid for. Microsoft on the other hand, they give
competitive pricing and enterprise deals for their Office 365 and their other
products too, to expand their market to lots of users.
Becoming market leaders: For businesses to be leader in the market they need
to be at the top of other business. They can do this by continuously improving,
maintaining high quality and making good relationships with the customers to
stay head of the competitors. Apple is the leader in the smart phone market
because they do different innovation in different time and they make brand
loyalty for the users. Microsoft is the leader in software and cloud market
because they always bring new technology in the market for the users,
therefore they can make large enterprise partnerships with different company.
Skills and Capabilities Required of an Enterprise
An entrepreneur's skills and abilities are shown by how well they can start a
business or a company by building, and running a successful business, while
making changes to keep things going according to the plan. Here are some
important points which they may consider:
,- Expertise (entrepreneurial and technical): Entrepreneurial expertise
means to find opportunities for business and come up with new ideas to
manage the business and help to grow and succeed. It could involve in
skills like planning, leading a team, managing the market, and handling
challenges without any problem. Technical expertise is about
understanding the how the business will work based on what is the main
purpose of the business-like what product and services they going to
deliver to the customers therefore they needed the knowledge of build
their own product or service. To do those it may involve certain skills like
coding, engineering, or product design, depending on what your
business needs. For example, Steve Jobs entrepreneurial vison led Apple
to come up best products like the iPhone, which changed the whole
smartphone market, on the other hand Bill Gates thinking change the
Microsoft market, now they become the leader in software market with
their product like Windows and Office 365.
Pros:
Enhanced Problem Solving: Having both entrepreneurial and technical
skills, business owner can solve their business problems effectively. For
example, Steve used to have both of them like he used to understand
the market and he used to know when to bring new technology in
market, products he created everyone used to love it like the iPhone.
Innovative Product Development: By combining knowledge about
market with technical skills allows companies to create new and unique
products. Like Apple, they used this technique to develop the iPad and
the Apple watch by designing and using advanced technology into the
device.
Competitive Edge: Entrepreneurs who understand the technology, they
can adapt quickly to make changes in the company. For example,
Microsoft under Nadella, she adapted both business awareness and the
technical skills to shift to cloud computing, so the company stay ahead in
technology market.
Cons:
Risk of Over-Focus: Company owners might too focused on making a
perfect product instead of missing out the important areas like customer
relations or marketing. Jobs, for example, he was known for to focus on
, the design, which sometimes let Apple to delayed product launches.
Nadella also had to make sure that Microsoft focused on their customer
needs, not just technology only.
Time and Effort Required for Mastery: To build both business and
technical skills takes a lot of time. Steve Jobs at Apple, he spent years to
learn both like product and customer to create top products. Satya
Nadella at Microsoft, she also needed years of experience in both areas
to grow Microsoft’s.
Potential for Burnout: In a company balancing both business and the
technical work is not easy. Steve Jobs faced difficulty to keep Apple
innovating. Nadella also had to manage the stress for Microsoft because
if she want to make big changes at Microsoft she had to think lot.
- Enthusing and inspiring others: The business workplace needs to be in a
way that will help people to feel inspired and make them feel to be
excited about their work, also by helping them if they make any mistake,
which will help the business to grow towards its goal. Apple wants their
employees to be more creative and to come up with new ideas. At
Microsoft, CEO Satya Nadella’s has created an environment for their
employees to feed motivated.
Pros:
More Innovation: By creating a motivating environment, companies like
Apple and Microsoft, they encourage their employees to think of new
ideas in creative way like Apple’s focus on creativity which leads them to
make unique products, while Microsoft under Satya Nadella has
encouraged teamwork and creativity. Which helps these companies stay
competitive and grow in the market.
Better Employee Satisfaction and Retention: Inspiring work
environment, like those who work at Apple and Microsoft, make their
employees to feel valued and involved, which helps this companies to
stay till now. So, when employees are happy and excited about their
work, they’re more likely to stay in the company, which helps these
company to save time and don’t need to spend money on training new
people.
Higher Productivity: Motivating the employers often help them to work
and produce more for the company. For example, At Microsoft
