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  • Subject Name : Entrepreneurship

Strategic Entrepreneurship 

Introduction to Strategic Entrepreneurship

This study aims to demonstrate the working of Robo Inventions which is one of the emerging and leading organisations in India. The organisation is working on cutting edge technologies in embedded systems, robotics and avionics. The aim of the organisation is to deliver the ultimate solution to many real-world problems(Araya and Mosheh2019). This study demonstrates a brief introduction of the organisation and its upcoming opportunities in combating with COVID-19. The study will propose the changes that need to be done by the organisation. This study will also discuss the entrepreneur orientation and the changes that the organisation has needs to do in order to deliver its product to potential customers. Apart from this business model canvas will also be developed in the study which is based on the new product that organisation proposing. At the end of the study adjustable conclusion is provided which consists of all the findings in the study.

The main focus of this study is to demonstrate the working of RoboInvention robots in combating with Covid-19 pandemic. The studies will also highlight the importance of organisation products in hospital management and health care Centres. The robots developed by the organisation are highly recommended to health care centres in order to maintain the rules and regulations for the prevention of COVID-19. This study will demonstrate the analysis of potential competitors of the organisation. In this segment, all the study potential competitor of the organisation will be demonstrated with their strategies and capabilities. The business model Canvas is based on the new idea that the organisation willproposal(Chan et al. 2017). This model is comprised of various sections such as who are key partners for this proposal and what are the value change that the organisation will consider. It will also demonstrate customer segments which comprise of a target audience which organisation will target. Apart from this it also demonstrates the key resources expenses and revenue streams. The business Canvas model is a kind of overview that aids the organisation to check the strength and weakness of the proposed idea

Background of Robot Invention

Robot invention is a private firm which is established in the year 2012. The organisation is a non-government authorised company which delivers the ultimate solution to many real-world problems. The organisation aims to enhance the electronics industry of India and develop new opportunities and growth in this field. The organisation products are based on innovation and best quality(Mettler et al. 2017). As the organisation is working in the field of technology therefore the organisation always updated workplace with the emerging technologies and its implementation in the organisation. The organisation delivers services majorly in Kerala zone and now the organisation recognition is increasing in the country. The organisation aims to deliver the best solution of the real problems with the quality of the product. The organisation belongs to India where the electronics industry is an emerging industry. Organisation decided to bridge the gaps which are existing among India’s electronic industry as compared to other country industry(Lee et al. 2018). In the present scenario, the organisation have immense opportunities in delivering products that resolve real-world problems.

Opportunity Recognition

Opportunity recognition is a process found in the path of the business with an entrepreneur mindset approach. This approach is a constant brainstorming in which firm look for new and improved ways for addressing the present real-world problem. The invention is the only way to resolve real-world problems by using technologies and different approaches. Currently, the world is combating with covid19 which highly impact the growth and the economy of most of the countries. At this time the organisation grab an opportunity to resolve and help the country to combat with COVID 19. The COVID 19 pandemic outbreak was declared a public health emergency of international concern on 30 January 2020. This disease is disrupting the life of every individual. This spread primary through droplets of saliva or discharge from the nose when infected person cough and sneeze. The only way through which this disease can be eradicated is social distancing. The World Health Organisation is continuously putting efforts to create an antidoteto eliminate this disease. Social distancing is the only way to prevent and stop the transmission of this disease. Therefore, in order to prevent this disease social distancing is important for every individual.

Opportunities for Robots

The Global battle against Covid-19 is very difficult and many countries including Australia and China use technology in order to deal with this disease. Technology plays an extremely significant role in providing effective services in hospital management. Doctors and nurses face difficulties in order to fight back with this disease(Jin and Kim 2019). A large number of hospitals use robots in order to deliver services. Robots provide services to patients who are quarantine and practising social distancing. Robots are used to helping professional doctors in order to communicate with the patient who is suffering from Covid-19. It is very important for everyone to maintain social distancing and for doctors this becomes difficult to follow it as they have to treat the patient by touching them and evaluating their condition(Lum 2020). Therefore, robots help the doctor to provide necessary facilities to the patient.

Robots deliver medical supply within the healthcare system. The robot provides all the necessary services in the current time to the individuals who word suspected of having the virus. Robots not only help professional but they also help in sanitizing all high touch surfaces. Robot proves to be the best alternative option for hospital management in order to deliver proper services to patience. As due to Covid-19 many individuals are quarantine and no other member can came into contact with them(Aruni et al. 2018). Therefore robots help those patients in order to provide encourage and motivate them by talking to them. Many big countries such as Australia and China are using robots in order to provide services to the patient as there is an improper ratio of patients and nurses in such countries. In India, the ratio of doctors and nurses over patients is very disproportional. Therefore splitting work with robots is the best alternative option right now. This is one of the great opportunities for the organisation to manufacture the best robots that help the country to combat with Govind-19. Recently many hospitals in India come up with this approach that ads robots and delivering services to the patient. Robo Inventions is already providing robotsto many organisation in India as well as to other countries. But due to Covid-19, it becomes very important to manufacture robots that help hospital management to manage work and combat with Covid-19.

Robots can help hospital management in letting services with nurses as well as doctors. They can assist patients by providing them with meals and other facilities. Robots can also assist doctors by helping them in examining patients and maintaining social distancing with an infectious person. As robots are one of the technologies that help people to keep a record, maintain their work-life balance etc. Robot helps to maintain a record of patients without any mismanagement. At this time it is very difficult for the hospital management to manage all the things and especially the data and records of the patients(Namba and Yamada, 2018). As each and every day the numbers of cases areincreasing and therefore the records of the patient have not been managed properly by the staff. Thus, robots not only help them to provide facilities to the patient but also help to keep the record of the patients and its medication. Due to social distancing, the patient in the hospital, as well as other centres, was suffering from this disease and they have to maintain distance from their family members which prove to have a negative impact on their health. Robots help the patients to be motivated and encouraged during the recovery process by communicating with them and provide all the necessary things to them.

The role of robots plays an integral part in hospital management in order to provide the best facilities to the patients and helping doctors with maintaining social distancing with infectious persons. Robot invention can provide different kinds of robots with different functions to the hospital management so that they can appoint them where the staff members are not sufficient to provide services. The robots that organisation is manufacturing have different roles and functions but ifan organisation embedded different system in robots then they can serve other services to the hospital management. The government is also providing funds if robots are performing well and within an affordable range. These robots not only help the organisation to combat with Covind-19 but also provide long-lasting services after the cure of this disease. Therefore the need for robots is very high and it is an opportunity for the organisation to Grab. The name aim of the organisation is to solve the real-world problems and this is one of the biggest problems that every country is facing right now. However, the organisation is already supplying robot to the association but the quantity and the functions are not so modernized that they can meet the requirements.

Therefor various improvisations need to be done by the organisation in order to provide the robots that fit the requirement. The organisation create varieties of robots from flying to swimming therefore the organisation have an opportunity to expand its business and deliver the quality of services to the associations. However, there are various difficulties for the organisation to provide robots as the price of the robots will be a significant factor that affects its manufacturing. It is important for the organisations to not only manufacture robot with a wide range of functions but also within an affordable range so that organisation can afford it. The organisation can also deliver other product such as 3D printing, embedded systems, avionics etc. In order to grab these opportunities organisations needs to make various changes in the departments. These changes are comprised of increment in organisation staff, improved HRM practices, new partnerships etc. Apart from this, the organisation leads to enhance its online presence by appointing an excellent digital marketing team that improve its online presence. However, the organisation needs to collaborate with different organisations in order to expand the business. The growth opportunities for an organisation are very high and this is helpful for the organisation to grab all the opportunities in order to expand the business and simultaneously solve the real-world problems.

Proposed Changes to The Start-Up

Various changes need to be done by the organisation to grab these opportunities. Firstly, the organisation needs to increase its workforce and deep understanding of technical work. This Candidate should be highly trained by the expert of the staff to get them engaged with the organisation working. Apart from this organisation needs to collaborate with different government authorities as due to covid19 many policies are introduced by the government for the companies that provide support to the hospital management. Also the organisation needs to enhance its online presence as the online presence is the most effective way to engage with the audience and the target companies(Vitanza et al. 2019). Right now, the organisation online presence is not as effective, therefore a proper digital marketing team needs to be appointed in order to enhance online presence on different online platforms. However, the organisation should also need to understand the requirements of the hospitals so that organization can fit the functionality in the robots as per their wants and requirements. However, the organisation is already delivering services in other countries therefore an only small amount of changes in recreating online presence should be done by the organization.

Customers of Robot Invention

Entrepreneurial orientation is one of the concepts which are followed by the executive of the organisation. It is done for the crafting strategies in the hopes of doing something new in the organisation. This concept is comprised of five elements that are autonomy, Innovativeness,Proactiveness, risk-taking and competitive aggressiveness. Robo invention is already known organisation in the field of robotics, 3D printing etc. The competitive advantage for the organisation is that all the leaders are highly supportive and innovative in their thought process(Díaz-Boladeras et al. 2016). The organisation already has innovative leaders that help them to provide all the predefined goals of the organisation(Song, 2016). Various changes need to be done by the organisation in terms of improving the online presence which comes under proactiveness. The organisation should be proactive online platforms as this is the only platform through which organisation can directly interact with the target audience. Entrepreneurial orientation is highly important in order to identify and sizing the new opportunities for the business. These five elements help the organisation to find new opportunities as well as identifying the gaps in the organisation. For example, the risk-taking help the organisation to analyse the risk in the organisation that proved to have a new opportunity for the organisation. This approach is really helpful for Robo Invention as it helps the organisation to develop new opportunities for the business and expand their business at a high level and eradicating all the risk factor. 

The changes that the organisation has to make to offer the new products in robotics to the customers are comprised of the following steps. The need for robots in hospitals is immensely increasing due to managing the workforce balance among the patients. Therefore, the organisation should grab the opportunity of manufacturing robots that can do the needful things and meet the requirement of the hospitals(Vänni and Salin2017). The organisation need to create robots that not only help in delivering services to the patient but also had the staff in maintaining other works such as record keeping, providing medications time to time etc. However, the organisation needs to be interacting with the customers to needs and requirements. Organisation and its workforce should recruit talented peoples that perfectly fit with the organisation culture. As the leaders are already innovative and creative in their ideas therefore the staff should be able to understand their ideas and implement it. The organisation should also train their staff in order to make them aware of the technologies that the organisation used to make robots and other things.

The organisation should also improve its online presence so that organisation can deliver a product to the target audience. The online presence not only helps the organisation to provide information that is useful for the customers but also target new audience worldwide.The organisation already have various customers across the country but in order to expand the business more than needs to enhance the online presence(Shroff et al. 2020). Various private hospitals are ready to invest more in adopting technologies for the betterment of services. The organisation needs to contact those hospitals in order to expand its business. The organisation should also improve its HRM practices that can perfectly fit within organisation culture. The organisation can also refer to other organisations that are across the country or within the country in order to see the differences between the products provided by them and by robot inventions. The demand for organisation product is already good in the market but organisation need to expand is business within the country as the major products are delivered mostly in Kerala.

Potential Customers of Robot Invention

The potential customers for the organisation right now are the Health Care Centres. The potential product of the organisation is the robots that can deliver services to hospital management. The hospitals can also manage their work by including robots in their workforce so that the proportion between the staff and the patient can be maintained. There are various countries that manufacture robots and add them to the hospitals for combating with Covid-19. Different new functions are included in the system such as an automatic camera system which commonly used to screen many people simultaneously in big areas. Thermal sensors and vision algorithms help to increase the efficiency of screening coverage(Pee et al. 2018). Apart from this, they also had a security system with facial recognition software that helps to retrieve contacts of infected individuals to alert them from others who might be addressed to infection. Social robots help the organisation to get interacted with the patients who are suffering from this disease. This robot provides them with encouragement and motivation to fight back with the disease. Therefore the organisation needs to make a strategy that helps them to create robots that can fulfil the requirements.

The organisation needs to address all the needs that hospital management wants in their robots. If it is possible for the organisation to embed all the functionalities in single robots then it would become easy for hostel management to add these robots in the workforce. Organization leads to plan the entire process of manufacturing the robots and then divide the work in the team members in order to complete it by the deadline. The biggest strength of this organisation is that various hospitals want to invest more in technologies so that they can deliver better services. The prices of these robots depend on the functionality of these robots and these many investing organisations provide the necessary funds to them. Apart from the strength of the organisations is that organisations generate a large amount of revenue by selling robots at high prices. The major competitors of the Robot Inventions are the Chinese companies which generate a large amount of revenue by providing the products at least prices with no warranty period(Vijai 2019).

The Chinese company deliver products at affordable prices. The robots are also having no warranty period but the prices of these products are so affordable that every organisation wants this kind of products. The basic strategy of the organisation is to sell the products at the most reasonable rate so that they can grab the market of that country. China is one of those countries which use this strategy is impactful in the Indian market. However, some companies in Australia are also a great competitor of Robot Invention. The product of these organisations is comprised of high-quality material with high prices. The warranty period for these organisation products is very good as compared to the Chinese product. Therefore the biggest competitor for the organisation is the Chinese companies which deliver the products at the most reasonable rates and with no warranty period. Furthermore

Robo Invention wants to Grab the opportunity by expanding its business in hospitals and another care centre. The organisation aims to provide the solution to the real-world problem and in hospitals, the ratio of staff and patience is highly disproportion. Therefore, the organisation wants these robots to deliver the best services to the hospitals and make a proper balance between the staff and the patients. In this time of Covind-19, the possibility of having robots in hospitals is very high as there is less number of doctors in treating the patient that is suffering from Covid-19. Robots, not any help the doctors but also patient to recover as soon as possible from this disease. This is strategy has the organisation to expand its business and also to resolve the present world problem(Kumarand Sundarraj 2018). The main barrier in the implementation of this idea is the support of hospital management and government officials. The organisation is already delivering the product to other countries where demand is very as compared to India and this is due to the high cost of this robot manufacturing in India. The possibility of accomplishment of these products by the organisation in the market is very high.

Conclusion on Strategic Entrepreneurship

It is concluded from the study that the organisation is working on cutting edge technologies in embedded systems, robotics and avionics. The aim of the organisation is to deliver the ultimate solution to many real-world problems.Technology plays an extremely significant role in providing effective services in hospital management. Doctors and nurses face difficulties in order to fight back with this disease. A large number of hospitals use robots in order to deliver services.maintained. There are various countries that manufacture robots and adds them to the hospitals for combating with Covid-19. Different new functions are included in the system such as an automatic camera system which commonly used to screen many people simultaneously in big areas. Thermal sensors and vision algorithms help to increase the efficiency of screening coverage. The study also demonstrated the business canvas model which will be helpful for the organization. 

References for Strategic Entrepreneurship

Araya, D. And Mosheh, F. 2019.Role of Industrial Robotics Automation Systems.

Aruni, G., Amit, G. And Dasgupta, P. 2018. New surgical robots on the horizon and the potential role of artificial intelligence. Investigative and clinical urology59(4), pp.221-222.

Chan, E.S.Y., Ng, C.F., Yee, C.H., Chiu, P.K.F., Wong, H.M., Tam, M., Teoh, J.Y.C. and Hou, S.M. 2017.Surgical robots for radical cystectomies in a medium‐volume hospital. Surgical Practice21(4), pp.136-140.

Díaz-Boladeras, M., Angulo, C., Domenech, M., Albo-Canals, J., Serrallonga, N., Raya, C. And Barco, A. 2016. Assessing paediatrics patients' psychological states from biomedical signals in a cloud of social robots.In XIV Mediterranean Conference on Medical and Biological Engineering and Computing 2016 (pp. 1185-1190).Springer, Cham.

Greenspan, L., Fiorini, P. And Colucci, G. 2019. Surgical Robots.The Route to Patient Safety in Robotic Surgery (pp. 25-35).Springer, Cham.

Jin, M. And Kim, J. 2019. A Survey of Nurses' Need for Care Robots in Children's Hospitals: Combining Robot-Care, Game-Care, and Edu-clum, H.C., 2020.

Kumar, V. And Sundarraj, R.P. 2018. Global innovation and economic value.Springer India.

Lee, J.Y., Song, Y.A., Jung, J.Y., Kim, H.J., Kim, B.R., Do, H.K. and Lim, J.Y. 2018. Nurses’ needs for care robots in integrated nursing care services. Journal of advanced nursing74(9), pp.2094-2105.

Lum, H.C. 2020. The role of consumer robots in our everyday lives.Living with Robots (pp. 141-152).Academic Press.

Mettler, T., Sprenger, M. And Winter, R. 2017. Service robots in hospitals: new perspectives on niche evolution and technology affordances. European Journal of Information Systems26(5), pp.451-468.

Namba, T. And Yamada, Y. 2018. Risks of deep reinforcement learning applied to fall prevention assist by autonomous mobile robots in the hospital. Big Data and Cognitive Computing2(2), p.13.

Pee, L.G., Pan, S.L. and Cui, L. 2019. Artificial intelligence in healthcare robots: A social informatics study of knowledge embodiment. Journal of the Association for Information Science and Technology70(4), pp.351-369.

Shroff, U., Mishra, R. And Lalwani, P. 2020. A Study on Impact of Fintech on Financial Inclusion. Studies in Indian Place Names40(35), pp.675-682.

Song, W.K. 2016. Trends in rehabilitation robots and their translational research in National Rehabilitation Center, Korea. Biomedical Engineering Letters6(1), pp.1-9.

Vänni, K.J. and Salin, S.E. 2017, November.A need for service robots among health care professionals in hospitals and housing services.In International Conference on Social Robotics (pp. 178-187).Springer, Cham.

Vijai, C. 2019. Fintech in India–Opportunities and Challenges. SAARJ Journal on Banking & Insurance Research (SJBIR) Vol8.

Vitanza, A., D’Onofrio, G., Ricciardi, F., Sancarlo, D., Greco, A. And Giuliani, F. 2019. Assistive Robots for the Elderly: Innovative Tools to Gather Health Relevant Data. In Data Science for Healthcare (pp. 195-215).Springer, Cham.

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