Answer To: Source: Hanson D, Hitt MA, Ireland RD, and Hoskisson RE, Strategic Management: Competitiveness and...
Csassignment answered on Nov 29 2020
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CORPORATE ENTERPRENEURSHIP AND INNOVATION CHALLENEGS
Table of Contents
Introduction 2
The context of the case study 3
Appropriate frameworks and tools for establishing organizational, general, and industry business drivers 4
Relevant innovation and corporate entrepreneurship challenges and opportunities of the organization 5
Two core risk/ issues inhibiting the potential performance within the organization and their implications 6
Conclusion 8
References 9
Introduction
The corporate entrepreneurship has been identified as a process that used for developing new products, business, processes or services inside an existing organization for creating and generating the values and revenue. The corporate entrepreneurship sets a kind of context for growth and innovation. In today's modern business world, especially tech business, there are many entrepreneurs who are looking forward to bring the smartest tech services to develop collaboration. Therefore, existing companies have to face challenges related to technology and innovation. The current essay showcases the study of corporate entrepreneurship and innovation challenges in the context of a case study based on Atlassian, which is a software company in Australia. The essay will reflect the appropriate frameworks and tools used for establishing the organizational, general, and industry business drivers. Apart from this, the essay will discuss all relevant challenges related to innovation and corporate entrepreneurship in reference to the organization. Moreover, the essay will represent two core risks or issues that can slow the performance of the organization along with their implications on the company.
The context of the case study
The case study is based on an Australian software company Atlassian which was launched in the year 2002. The company specializes in collaboration and productivity tools for the businesses. The company has active 5 million monthly users and has more than 51000 organizations as clients that are utilizing its software products. It includes Coca-cola, Procter & Gamble, Visa, Citigroup, BMW, eBay, Facebook, Netflix, and NASA. The company is working without any sales force and believes that it must focus on developing a great software within an affordable price and access must be provided to every company to easily download it from the internet (Hanson, et. al., 2017). The developer of Atlassian, Cannon-Brookes, and Farquhar suggest that if any customer like their product then will promote it to other associates and friends. The Atlassian works on the philosophy - no sales force. The distribution model of Atlassian focuses on building great or high-quality products, keeping the prices low, pursuing volume, selling online, transparency in pricing and access to an easy trial. The company uses also uses another P of the marketing mix that is a promotion strategy. It has been noticed that the company has been able to develop its brand loyalty through word of mouth marketing (Hanson, et. al., 2017). The company Atlassian has been able to gain a complete understanding of the market and has made the community and users the advocate of its products. Apart from this, the company has been able to focus on the experiences of the customers by exploration, evaluation, engagement and after service experiences. The company also invests in new start-ups and take care of its employees so as to motivate them and making the company a better place to work. The Atlassian company completely relies on its profits for...