DB strategic entrepreneurs and radical innovation
Reply to three classmates
Classmate 1: My biggest learning from analyzing my organization’s strategy was that one strategy cannot work for every organization. We have learned various strategies over the course of this class and going from working for a local organization to a global organization I have recognized that having awareness of the various strategies is crucial.
The book says, “Joseph Schumpeter viewed entrepreneurship as a process of “creative destruction,” through which existing products or methods of production are destroyed and replaced with new ones.” (1) I believe this is true for Dow Chemical as they are always evolving their products and creating new ones. The book also explains the innovation is risky but when done properly it can be effective and I believe Dow taking risks with sustainability and it is working. Most times sustainability is more expensive, which means less money not only for the organization but for the investors as well but Dow taking this risk is showing major benefits.
The Blockbuster and Netflix example most resonated with me. Blockbuster was my childhood. There is nostalgia there for me. With that being said, it makes me question daily things I do and utilize, what next radical innovation is there going to be? Can I think of one? Every Friday we have a movie night with our kids and watch Netflix, Disney+, or one of the other video streaming platforms like it and my kids will remember this just like I remember going to Blockbuster with my mom. At the time we thought it was the best thing. The concept resonates with me, taking one thing, keeping it the same but completely changing it.
Referenced
- Hoskisson, R., Hitt, M., Ireland, R.D. & Harrison, J. (2013). Competing for Advantage (3rd ed.). South-Western Cengage Learning: Mason, OH.
- Classmate 2: Morning!Just wanted to say it has been a pleasure getting to read everyone’s posts during this course. I wish all of you nothing but the best as you continue your educational journey!
- Having just completed your Professional Application Project, please share your biggest learning from analyzing your organization’s strategy.
In analyzing my organization’s strategy through the Professional Application Project, my biggest learning was the importance of alignment between strategic goals and operational execution. While a well-crafted strategy provides a roadmap for achieving organizational objectives, successful implementation requires careful alignment with day-to-day operations, resources, and capabilities.Overall, my analysis of my organization’s strategy highlighted the connection of strategic planning and operational execution, emphasizing the need for alignment, agility, and strong leadership to achieve organizational goals successfully.
- From Chapter 12, what elements of strategic entrepreneurship and innovation contribute to your organization’s corporate advantage?
Many of the elements from Chapter 12 coincide with my organizations corporate advantage. In fact, innovation through acquisition is how I became a part of my current organization. We were acquired in November of 2022 by my current company for our processes, talent, and technologies as they’re transitioning from a legacy-based org (tech, process, people etc.) to a cloud-based org. As you can imagine coming from a more agile, forward-thinking org to a legacy-based org that’s transitioning, comes with its challenges and frustrations.
- What example from this week’s Radical Innovation video most resonated with you? Why?
The collective video examines various strategies based on radical innovations, which are transformative and often disrupt existing industries. The Blockbuster vs. Netflix example I found most intriguing. It illustrates how Netflix disrupted the home video rental market with a fundamentally different business model, leading to Blockbuster’s downfall. Overall, the video highlights the diverse ways companies can leverage radical innovations to create value and succeed in dynamic markets.
- Classmate 3: The professional application project was an interesting assignment because it allows me to understand better the decisions D.R. Horton makes in acquiring assets and how it navigates alliances they make with other businesses. The importance of emphasizing the alliances and relationships we make with tradesman and real estate agents establishes a good foundation for navigating business. Ultimately, I think the intentionality towards developing relationships that D.R. Horton will utilize as a foundational piece of their organizational strategy is a pivotal piece in how their brand has established them as America’s homebuilder.The strategic entrepreneurship mentality is an element that D.R. Horton utilizes in how they model their communities through their sales agents taking primary responsibility for the sales operation of those homes. It is a beneficial mindset because it allows D.R. Horton sales agents to represent them but to approach it in their own way to encourage traffic to their communities. In addition, the incorporation of cooperative strategies has benefited D.R. Horton in communities across a region because they can develop relationships with the businesses that support their construction. I think there could be an opportunity to innovate on how we navigate our construction by learning how the tradesman would approach the work. The radical innovation video has a lot of good examples on how it influences markets when it can be implemented in an effective way. I think the low end disruptive innovations are very interesting because if businesses are able to stay afloat and develop their products then it can lead to a lot of impactful innovation for their company.
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