Business and Management students often look for Entrepreneurial strategy assignment help during the pursuit of their course. The course in entrepreneurial strategy can be demanding at times and it is best to seek professional entrepreneurial strategy assignment help to score Stellar grades in the subject. Talking about stellar grades, My Assignment Services, connect you to experts that write stellar entrepreneurial strategy assignments and help students achieve HD grades in the subject.
But if you are here to find MKT3031 entrepreneurial strategy assignment samples or just resources to do an assignment on your own, keep reading further.
If you read closely, you would understand that you have been provided with some instructions. What you would require to do is that you would need to research and list a few organizations going under change, a period of growth or incubation. You would have to then critically analyze the situation and use the entrepreneurial concepts and tools to evaluate, project the organization's potential and future as well you'd need to identify the problems and roadblocks to their growth. You would also be required to leverage the core concepts of Entrepreneurial Strategy and Business Administration to figure out solutions to these challenges and frame them in the form of a report.
Any Entrepreneurial strategy can be boiled down to involving decision-making strategies of an organization that aim to avoid jeopardizing widespread simultaneous changes. The term entrepreneurial strategy could also be distinguished from the common notion of representing the strategic behaviour of an organization. It is a strategy with which an organization may establish and re-establish the behaviour of relationship with its environment. With the development of new organizations and ventures, the development and application of robust entrepreneurial strategy become paramount. To come up with a bulletproof entrepreneurial strategy, one has to possess a deep understanding of one's situational dynamics and organization's objective.
Numerous concepts are leveraged by professional entrepreneurs while devising a comprehensive strategy. These methods are as follows:
Porters five forces is a comprehensive framework for analyzing, and profiling a company's competitive place in the competitive market. While drafting Porter's Five Force analysis, one may have to look for competitive rivals, new players and potential alternatives that may influence the market and also impact the organization's market share.
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Students looking for Entrepreneurial Strategy Assignment Help should also know that Porter's five force analysis can be leveraged by businesses to maximize their competitive lead.
Porter's five forces can be denoted by the following:
The first concept of the five concepts of the porter's five force analysis advocates that increased number of competition in the market can undercut an organization's profit and in the worst cases may also lead to a shift of power in the market. With increasing competition and a number of alternative products in the market, an organisation loses a significant amount of power and control on the way the market behaves. Different suppliers, and even buyers, may outrun a company if they find a way to offer better value at lowe costs. On the contrary, in the situations where rivalry is low, companies gain a significant power to control the prices and availability of products in the market that translates to sustained and predictable figures of profit.
This point advocates that an organisation should keep an eye on new entrants in the market. The more affordable and convenient it gets for a new player to enter a market, the more likely is an organisation to lose profits and revenue and become weakened. An industry should pose strong barriers to the entry of new players.
An additional factor and a paramount objective of five force model are to address how suppliers can alter and drive up the cost of production. If a company is primarily dependent on one supplier with no other supplier for the alternative, then it may be jeopardizing itself. It is affected by the number of suppliers of a good or service's key inputs, how unique these inputs are and how much it would cost a firm to switch to another supplier. The fewer suppliers to the industry, the more dependence a business would have on a supplier. Eventually, the supplier gains more power over the organisation and seeks advantages and incentives for the trade.
The customers may influence demand and demand may in turn influence the products price to go down. This intricate balance between supply and demand is maintained by how many customers are willing to buy an organisation's product and how significantly each customer can influence an organisation's profit. The company has to determine how much would it cost the company to find new buyers for their produced goods. A concentrated but powerful customer base may hint that the customers carry more power over and can potentially negotiate for better deals. An organisation with a distributed consumer base, may not be affected by an individual customer significantly.
Substitutes play an important role in governing an organisation's power or influence over the market. The services available in the market that can potentially obsolete or replace the services of an organisation pose a great threat to the future of the company. Organisations that produce services or products for which no substitutes exist gains more power and influence over time. But as soon as close substitutes are introduced to the market, consumers may distribute eventually weakening the organisation's hold over its consumer base.
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When making an entrepreneurial strategy, it is imperative to leverage the porter's five force analysis and see how it applies to the industry. This also draws in investors and helps an organisation plan for the future.
Mentioned above were a few essential concepts of Entrepreneurial Strategies. Our experts at My Assignment Services provide quality Entrepreneurial Strategy Assignment Help to students across the globe. They are well versed with the subject and well equipped to write an impressive assignment for you. If you have been looking for some business management assignment help, then call us now and connect to an expert. Here, at My Assignment Services, we guarantee high-quality plagiarism free work that is delivered before and well before the deadline.
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