Question

Identify and discuss what you believe to be the major things that top-level and middle-level corporate executives can do to stimulate and lead entrepreneurship in their companies.

Answer 1

Some basic Strategies for an entrepreneurship which I would follow in food Industry in my career for future endeavors are as follows.

Researching new products as well as services

By researching new products in the same field as well as providing new services. Entrepreneurship can be Very much benefited by these two terms by developing new products as well as introducing new services to your entrepreneurship business you can easily increase your overall reach and create new catalogue for the company. I will research about New recipes as well as new cooking techniques which can enhance my overall food chain as well as the food store to provide better services to the customers.

I'll start with the small markets

Rather than tackling bigger markets, I will start from the smaller Markets and when I will get established in the smaller markets then I will switch to the bigger markets for my company. This specific strategy would reduce the overall risk of failure. Rather than opening bigger food chain in bigger cities I will start with smaller cities with the smallest old to grow constantly and reduce the risk of failing.

I will listen to the customers feedback

I will listen and analyse the customer's feedback to adopt the changes. Listening to the customers is one of the most essential part for an entrepreneur as all of their services and products are initially very customer oriented to be more promising . By listening the quality of my food as well as the taste I will definitely provide a better product to the customers.

Analysing the market and changing according to it

I will analyse the market and change my strategies according to the current market needs. By analysing the competitors as well as that products I will implement my own product range as well as services for the customers. Ability in the food industry hence I have to go and look out for different competitive shops or those who deals in burgers and I will definitely try to improve my burgers in a different manner by creating a unique taste.

Creating a new market

By creating a new market with my ideas I will easily create a unique selling point of my products and provide extremely good services in the same class to become a Pioneer as well as set up my own Monopoly in the same product section. By applying this is specific strategy I can easily enhance the overall reach of my product as there would be no competition my products in the same field.

Recognizing the opportunity

I will recognise the opportunity of a business requirement in summer special field and work towards it. Bye properly studying the competition and recognising the market structure I can easily determine which field should I go for the maximum benefits as well as profits for my company.

Conserving the capital

I will conserve the capital for investing in my business, an entrepreneur should be as conservative as possible in terms of money. Rough patches can arrive anytime in an entrepreneurship program hence getting out from that specific page requires capital which can be rectified with the help of conservation.

Kickstarter is a platform who gives an opportunity to the ideas forming crowd funded from around the world. Kickstarter itself is an entrepreneur program which is based on the profit earned by the Kickstarter projects.
By implementing the strategy of crowd funding kickstarter has been a huge success among doing generation and the entrepreneurs. Buy suits in the richest idea from all over the world and providing them up from a platform to increase their ideas and in return asking for the percentage of money from the total profit or maintained by the entrepreneur idea is the basic strategy of Kickstarter. By maintaining this basic strategy Kickstarter have been growing since it was introduced to the Internet. Tata has no physical store and has only and Internet based service which provide a platform to the new entrepreneur who want to exhibit the idea to the world and get the investment for the same by introducing the idea of crowd funding started a wave of entrepreneurs by giving them a platform to ask for the money and investment in exchange to the products they build.
Product management of Tata includes the prototypes of the entrepreneurs who ask for crowd funding and jeans overall profits from the prototyping available on the kickstarter.