An entrepreneurial firm

An entrepreneurial sloshedIntroductionA ancestry that is in private owned and operated with a sm every number of employees and has relatively low mickle of sales is called a bitty business. It discount be started at a very low cost and on a part-time basis. small(a) Business Management refers to management of such small businesses.A unwavering which undertakes cosmic fortuitys and engages in product- merchandise purpose is called an entrepreneurial libertine. (www.highbeam.com)An Entrepreneur is a psyche responsible for setting up a novelly effort. He has the initiative, skill for innovation and ideas. He looks for high achievements and assumes signifi chiffoniert account capacity for risks taken and their out keep abreast. Entrepreneurship involves fand so forthing risks, investing under uncertain conditions innovating, planning and taking decisions to increase productiveness and profits.The pur position of this project is to understand and analyze the character istics of entrepreneurs and entrepreneurial firms by critically evaluating the entrepreneurial orientation of the Google Inc and entrepreneurial traits of its founders, critically evaluating the entrepreneurial orientation of a topical anesthetic anaesthetic small business and entrepreneurial traits of its founders and commenting on the differences/similarities between the two.The local small business chosen for this project is Layali al Asalah. It is an institution which encourages Omani women hammer designers to hone their skills to become to a greater extent creative and groundbreaking.Entrepreneurial predilectionEntrepreneurial Orientation refers to the processes, practices, and decision-making activities that lead to freshly entry(Lumpkin Dess, 1996, p. 136).It is a key atom for a firms winner. Entrepreneurial Orientation is a strategic response to a entangled set of institutional surround and firm factors. Entrepreneurial behavior, behaviour that is more than than aggressive, innovative, proactive and risk taking, is significantly associated with specific attri fur in that locations of the institutional purlieu of the firm. It is also associated with the perceptions that firm leaders kick in of that environment and the resources available to the firm for responding to environmental conditions. (www.freelibrary.com)Entrepreneurial TraitsEntrepreneurial Traits, also k at one timen as entrepreneurial competencies refer to a mixture of knowledge, skills and personality required to successfull go by a business with superior performance. roughly of the most prominent traits have by successful Entrepreneurs atomic number 18Initiative It is an inner urge in an individual to do or initiate more or lessthing. Entrepreneur is an innovator who explores in the raw ways of put to working to initiate and accelerate the process of economic nurture. He is endlessly on the lookout for opportunities and is ready to exploit them in the high hat inte rests of the organization.Motivation Persistence An entrepreneur is self instigated towards achievement, is never demoralised by failures and is dedicated to what he does.Commitment to efficiency An entrepreneur is unendingly keen to devise new methods aimed at promoting efficiency, making work easier, simpler, let out and economical.Idea generation An entrepreneur generates new ideas through vision, insight and card and also through environmental scanning and market survey.creative thinking Creativity refers to richness of ideas and originality of thinking and ability to produce something new through imaginative skill.Innovation Innovation means doing new things or doing things in a new way. It includes new processes of production, accession of new products, creation of new markets, find of a new and give way form of organization and the bid that enable the organization to gain rivalrous advantage in the market.Introduction to Google Inc. military missionTo organize the worlds development and make it universally entrancewayible and useful. (www.google.com)About Google Inc.Google Inc. is a search engine, an entrepreneurial venture by Sergey Brin and Larry Page. Google, initially named Backrub, was started as a research project by Sergey Brin and Larry Page. In 1997 they registered the domain name google.com derived from the term googol, a mathematical term to representing one followed by 100 zeros. It was named so to reflect the immense volume of discipline that exists, and the scope of Googles mission. In 1998, it became a privately owned incorporate known as Google Inc. With use of deposit of the art technology and extensive research on search algorithms, Google successfully establish its brand name in meshwork search engines. It now employs almost 20,000 employees world over with a management team which boasts of having some of the most experienced technology professionals in the industry. Google became successful because it was quick and better at finding the correct answer than opposite(a) search engines at the time. Over the years Google has advancen and expanded offerings from a single assist to dozens. Its dedication to its users and belief in the possibilities of the Internet remain unchanged.Products and work offeredOnline productivity softw be care the Gmail e-mail software, applications such as the web browser Google Chrome, social networking tools like Orkut and Google Buzz, the Picasa photo organization and editing software, Google Talk fast messaging and phone operating system like the Android mobile. stopping pointGoogle is known for having an in clod corporate culture. Google still maintains a small beau monde feel even though it has grown a lot since its inception. Its trueness to innovation depends upon everyone feeling comfortable sharing ideas and opinions. No employee hesitates to groomly pose questions to Larry or Sergey. When not at work, the employees pursue interests from wine tast ing to degraded Frisbee.Entrepreneurial Orientation of Google Inc.Risk taking Embarking on new ventures like Google Green and Google Venture gives evidence that Google inc. is a risk taking firm as significant amount of resources were committed in these ventures without surety of their success. Google is the just now comp either in the world which was bold enough to take the risky step of playing with the Compeverys logo by creating doodles. In 2011, Google will assemble Google TV which is a combination of TV, applications, search and entire web on TV. This is a risky venture considering that it will be in direct competition to conventional TV.Innovation Even after having successfully established a brand name, Google Inc. has continued to invest heavily in innovation and launched many new products and designs over the years. They have kept the element of imaging that transforms designs from simple to delightful alive and kept evolving products in new directions. Some of their i nnovative products areGoogle Translate It is the worlds largest machine translation engine having more than 50 language pairs. Google Translate mobile version can transliterate ones voice, translating the content into any other language of choice and then speechmaking it back to the User.Android It is a mobile service which lets Users access information at will. Users can carry out different tasks like checking mail, online shop etc from their mobile phones.Google Instant It predicts Users search and shows results instantly even before type is finished.Google Books It allows users to manage a personal bookshelf, see what books friends are readings, share books etc.Google Chrome It is a modern browser designed to handle complex dynamic web. Chrome was built based on trinity ideas simplicity, renovate and security. Its powerful JavaScript engine helps Chrome handle complex web applications at lightning speeds. It includes features designed for efficiency and ease of use. For exam ple, one can search and travel from the same box. It has built in features like translation, built-in malware, phishing protection and machine updates to ensure the browser is up-to-date with the latest security updates.Service sense Google Inc. is committed to providing best quality of services to the Users. The company knows that time is of import for Users and hence it aims to provide fast, accurate and easy-to-use services. Googles search interface is offered in more than 110 languages and translation tools are available to translate web pages to reference the needs of people around the globe.Competitive aggressiveness Competition keeps Google Inc. on the toes. Google continuously invests in research technology to keep ahead of competition. owe to cut throat competition from rivals like Microsofts Bing, Google has enhanced output potentiality of every internet search by introducing Google Instant which makes the search faster by almost 2 to 5 seconds.Autonomy It refers t o the in reliant actions taken by entrepreneurial leaders or teams to start a new venture and seeing it succeed. Google Inc. has started various new ventures like Google Org Google Green and worked unverbalized to make them successful.Entrepreneurial traits of Googles FoundersVision Googles founders were very technology savvy and cute pile world over to have access to the vast information available all over with the help of technology. They had the vision to make internet and power of search to help people use information to better their lives and contribute to economic development.Passion Googles founders are passionate about their business. beingness one of the worlds largest research groups focused primarily on addressing search link problems, they know what they do well, and how they could do it better. Their dedication to improving search helps them confine what they have learned to new products.Creativity From the beginning, Googles founders have been working on technol ogy that can help improve existing ways of doing business. They have built an informal culture and a working environment where employees are encouraged to be creative and spend a penny innovative products that solve real-world problems. To motivate the employees, a Founders Award is presented to teams who take in innovative products.Risk taking Larry and Sergy see an fortune for search engines and took a risk by creating Google Inc. after heavily borrowing money.Opportunity seeking They believed in the possibilities of internet and saw an prospect in the market for search engines. Their idea was new and risky but they were determined to make it work. Even after its success they are always on the lookout for opportunities and ready to exploit them in the best interests of the organizations. They work with their teams to discover peoples actual needs, including needs they cant always articulate. Armed with that information, they create products that solve real-world problems. th ere was a need to be able to access information on the move, saw that as an opportunity and developed android. There was a need for Search results being faster, so developed Google instant. vitiated Business Layali Al AsalahVisionTo promote port as a great medium to showcase the designers creativity as well as empower, teach women about business and entrepreneurial skills. (www.layalialasalah.com)About Layali Al AsalahLayali Al Asalah which means Night of Culture is a small business entrepreneur venture in Oman started by three friends Samah al Wahaibi, Najla al Kindi and Nadia al Zakwani, It is a appearance institution which trains Omani women fashion designers to make it big in the fashion industry. It encourages Omani women interested in fashion conniving to think creatively, improve their technical skills and discover the entrepreneur within them.The three friends realized that many Omani women were into fashion calculating but lacked formal fashion know-how. They wanted to do something interesting and different for female fashion designers in Oman but had no formal plans of establishing any business. Samah got an opportunity to heed a seminar Breaking the Glass Ceiling in Salzburg which was about accomplishments of women from worldover. The success stories of the talented women inspired her to start a business venture of her own. Upon travel to Oman she got together with her two friends and in 2006 founded Layali Al Asalah Co. to provide formal readiness and education in fashion designing aimed at attracting emerging Omani women fashion designers.They started off the venture by organising a competition called When genuineness Speaks, where the bailiwick centred on the Omani embroidery. The competition categories included Omani outfits for women and grip shoe designing. This competition is now an annual event. Scholarships to pursue courses in University of Milan are awarded to the winners to who then go on to create their own fashion brands.Pro ducts and Services offeredIn addition to providing formal training and education, their offerings include arranging Concerts, caseful Management, Fashion Shows and organizing Workshops and Exhibitions.In 2009, they created an Asalah villa, which rents space at reasonable rates to develop designers who are otherwise compelled to operate from home due to high market rental. Building upon the success of Layali Al Asalah Asalah villa, they opened up a entrepot called Layali Al Asalah Shoes. The blotto selling point about their billet is that all shoes have a strong Omani presence with glimpses of some(prenominal) other cultures in it.Entrepreneurial Orientation of Layali Al AsalahInnovation Layali al Asalah is an innovative venture as there was no such fashion institution in Oman till this venture, which offered any training to Omani women in fashion designing. The competition When Authenticity Speaks also is one of a sympathetic in Oman where themes include Omani embroideries and the designers get to show their creativity in Omani garments, handbags, shoes, etc. The winners are chosen through online voting which is also an innovative idea using latest technology. The competition is made more lucrative attractive to women by offering of Scholarships for further studies at University of Milan. The notion of Asalah villa helps budding designers promote their business, create a client base and put down in exhibitions. Layali Al Asalah Shoes churn out shoes with innovative designs. Each shoe is wrapped in Omani and various other cultures. For example authentic Omani silver jewellery is incorporated into rainbow hued shoes representing Omani culture. Annual bazaar under the name Asalah Bazaar is some other innovative idea where the participants exhibit their collections sell the products at discounted prices.Risk taking Layali al Asalah is willing to accept business risks as is evident from their various new ventures like Layali Al Asalah Shoes Asalah v illa started over the years since their governing body even though there was no surety of success. Funding for the new business ventures is a challenging task for the organisation due to check availability of resources.Proactiveness Layali al Asalah is an opportunity-seeking, forward-looking venture which has been proactive in introduction of new ideas like the Design competition, organisation of annual bazaar for display sale of products, etc. It has created new products like shoes with glimpses of Omani other cultures. It has stayed ahead of the competition and has been acting in anticipation of future strike of their offerings.Autonomy Asalah villa and Layali Al Asalah Shoes were new ventures by Layali al Asalah where the founders took the needed steps independently to ensure success.Service consciousness The organisation is fully devoted to ensure that their services are of highest quality standard and it puts in its best for achieving these standards. The organisation bel ieves in excellence which is reflected in everything it does. The workshops and exhibitions are held in line with the progress in world fashion industry. Scholarships to desiring candidates ensure that they can compete with the latest in fashion industry.Entrepreneurship traits of Layali Al Asalahs FoundersRisk taking The founders were very young and inexperienced in the field of business management. Although they were passing motivated and enthusiastic, they were not familiar with the risks of the business. However, they took the risk of starting the business without distressing much about the consequences. Even after successfully establishing the organisation, they continued to venture into implementation of innovative ideas like Asalah villa and Layali Al Asalah Shoes.Self confidence though the founders lacked resources and knew it was a risky venture, they were determined to convert their idea into a human race and were not cowed down by difficulties as they believed in their abilities and strengths. Not exactly did they make the venture successful, they continued to grow it by opening more branches.Creativity It refers to the phenomenon whereby a person or a group of persons create something new which may be a product, a solution, or an enterprise which has some kind of value for the society. The creativity of founders of Layali Al Asalah is evident from their ability to use their imagination, analytical approach and intelligence to convert their idea of fashion designing institute into a reality. They continued to explore new ideas like designing shoes with Omani jewellery and gluing Chinese embroidered silk fabric onto the shoes. The belief of Asalah Villa Bazaar to help budding fashion designers also depicts their creativity. The founders came up with I Read A Book a creative concept aimed at promoting reading of books amongst Omani people, through a fashion show with the theme of libraries, books and reading which brought to light the libraries available locally.Opportunity seekers The 3 founders saw an opportunity for opening an organization that would encourage those interested in fashion designing to improve their technical skills and discover the entrepreneur within them. In Oman there were several shoemakers who made slippers for Omani men but hardly any for womens shoes. Hence an opportunity in shoe making market was notice and Layali Al Asalah shoe was created. Rentals are considerably high in Oman and wherefore budding entrepreneurs are compelled to limit their businesses to their homes. Capturing this as an opportunity, the founders launched Asalah villa, which rents space at reasonable rates to budding designers. ConclusionThe prime difference between a an entrepreneur and small business proprietor is that the small business owner remains contented with earning enough profits to live his life a comfortably and keep his business running, is not really interested in expanding his business and is more than likely to keep the business within the family. some other notable difference between the two is that a small business owner tends to need motivation whereas, an entrepreneur is fuelled by ambition, drive and inspiration. miniscule business owners are not the ones to think out the box whereas, entrepreneurs come up with new ideas, innovative products, as well as effect creative strategic marketing plans. In a competitive environment innovation provides the basis for sustainability of an organization.Entrepreneurs innovate and the instrument of entrepreneurship is innovation. Entrepreneurship is a creative activity and an innovative function. Innovation may be in the form of a new product or production process, opening a new market or a new form of organization. Economic ontogeny depends on the rate of applied technical progress i.e. innovation which in turn depends on the supply of entrepreneurs in the society. Thus the entrepreneur is the performer of change in the society because he is the one who always searches for change, identifies needs, responds to them and exploits them as an opportunity and in turn generates employment opportunities for others.Upon analysis of the traits of Google Inc. Layali Al Asalah, it can be concluded that Google Inc. is an entrepreneurial firm while Layali Al Asalah is a small business with very strong entrepreneurial orientation and therefore can also be considered an entrepreneurial firm. two the firms have similarities in certain prominent traits like risk taking, innovation, autonomy and service consciousness. Both firms had humble beginnings at a small scale and went on to grow and expand their operations. Important differences exist in the level of innovation and competitive aggressiveness. While Google Inc. is more innovative competitively aggressive, Layali Al Asalah is limited in its scope of innovation and competitive aggressiveness as it competes in a very small market compared to Google Inc. which has a global reac h. Google Inc. has stronger impact on the economy due to its huge size, extensive reach to the world masses and available resources while Layali Al Asalahs impact is more at the local economy level as it addresses the needs of a smaller creation of masses, is smaller in size and has limited resources.Google Inc.s business is largely dependent on innovation for growing and therefore it invests heavily in the employees thereby creating jobs all over the world further contributing to the economic development of many countries.Entrepreneurial firms like Google Inc and select small businesses with very strong entrepreneurial orientation like Layali Al Asalah contribute significantly to the modify of the economy by efficiently utilising resources and creating opportunities for people prevent the economy from stagnancy as they continuously innovate and sustain competition. In comparison, the small businesses without any entrepreneurial orientation are unlikely to fuel the economic growt h of any country. It is therefore better to have entrepreneurial firms instead of small businesses without any entrepreneurial orientation.