Enterprise in action Essay Example | Topics and Well Written Essays - 3250 words

Enterprise in action - Essay Example The specific process needs to be developed in a series of phases, aiming to limit the chances of failures. However, in extremely turbulent market conditions, like the current ones, it is quite difficult for business opportunities to be identified and developed. The use of the effectual approach in the decision making process could help to manage such projects more effectively. Current paper presents the phases of the identification and the development of a business opportunity. Suggestions are made regarding the processes through which a business opportunity can be identified and developed. Appropriately literature has been also used for explaining the requirements and the challenges of the particular process. It is concluded that the use of appropriate techniques for identifying and developing the particular business opportunity can reduce the risks involved. However, it is necessary that all phases of the process are continuously monitored so that the chances for major losses to be eliminated. 2. Describing and processing the opportunity In order to identify and develop a business opportunity it is necessary to follow certain processes. These processes are analytically described below. At a first level, it is necessary to choose the approach on which the processes will be based. The effectual approach of decision-making has been chosen under the terms that the future conditions of the market involved cannot be precisely defined in advance – taking into consideration the strong market turbulences because of the global recession. Each of the phases of the processes is justified using relevant literature; additional literature is analytically presented in a separate section. 2.1 Effectual approach The effectual approach of the decision making process is based on the proposition that since certain elements of the future are known, there are measures that can be taken for controlling it, even if its precise characteristics are not known. In the terms of the business environment, the above approach means that the future performance of business plans can be guaranteed – at an important level - by taking measures which are appropriate in terms of the common market conditions. The above approach is not based on the perspective that the exact future conditions of the market can be known, a perspective accepted in the causal approach of decision making. For this reason, the effectual approach has been chosen as most appropriate for checking a business opportunity, since this approach has the following benefits: a) it does not require accurate decisions but just effective plans; emphasis is given on the construction of the business projects and not on the development of a series of decisions; this fact can help to save time in realizing the projects, b) it does not require precise goals or stable market environment; this fact is an advantage of the effectual approach taking into consideration the turbulences in the global market, c) i t does not require extensive market research, a fact that could also save time/ resources in the completion of the business project involved(Doke et al. 2007). The principles and the rules of the effectual approach have been critically examined in order to decide on their use in the identification/ development of a business opportunity. The effectual principles that have been proved more effective in the identific

Shewin Memorandum 2 Assignment Example | Topics and Well Written Essays - 2000 words

Shewin Memorandum 2 - Assignment Example She has worked for The Blabber, a newspaper in Atlanta for a period of 10 years. She started working for the organization as an entry-level researcher and after two years, she was promoted to the position of junior-level reporter. Two years letter, she rose to senior-level reporter, a position that she has held for a period of six years. For the first eight years of her employment, Shewin worked under the supervision of George Doright. However, in the last two years, Blabber underwent reorganization and Doright was transferred to another division in the organization. After the reorganization, Shewin started to report to Arthur King, the senior editor of the company. After the reorganization, two editors were retired and Shewin applied for the position but she was denied the opportunity of assuming the positions. Actually, she was interviewed for one position but was not offered the jobs that she believed she had met their qualifications. In the past month, she applied for a position of junior editor because her qualification matched with the requirements of the advertised job. However after the interview with Mr.King, she was not offered the position. ... According to Shewin, there are several factors that may have played a key part in her failure to secure promotions despite the fact that she had good qualification and extensive work experience. For instance, only three women hold positions in upper management levels and were promoted before the reorganization. Her new manager, King was not involved in their promotion decision and seems to be against the female gender. This is further compounded by the fact that he had been making sexist comments that were offensive to a number of women and some men. For example, he was on record abusing a pregnant reporter. King tried to seduce Shewin, but she declined the overtures and believed that it might be the reason why she did not get the jobs she applied for. Further, he predicaments could be attributed the fact that there are only five African Americans top manager hence bringing about the issue of race in job promotions. Before reorganization and the transfer of Mr.Doright, Shewin filed a complaint against some of her male workmates who had the habit of discussing explicitly about their personal weekend romantic adventures on Monday mornings. Although the conversation did not address her, they were offensive and after she reported to Mr.Doright, he warned the employees to stop the habit. However, when Arthur King became the senior manager, the old behavior of her male colleagues reverted and even after Shewin reported the irresponsible conversation to King, he took no action and seemed to approve it even though he did not participate directly in the conversation. However, Shewin seems to be worried of her age and fears that at forty, she may never get a promotion. This is further