The primary vehicle for delivering the value promised by business idea is the Value Chain of an organisation and hence an understanding of the concepts and principles of the Value Chain would be beneficial for an entrepreneur.
Studies have found that two-thirds to three-quarters of large organisations struggle to implement strategies. A survey of more than 400 global CEOs which reported that executional excellence was number one challenge facing corporate leaders in Asia, Europe and the United States, heading a list of 80 issues, including innovation, geopolitical instability, and the top line growth.
Since strategies exist at various levels of the organization, the strategic plans also exist at all levels. Though the scope and scale of plans, thinking, and managerial activity varies; all plans have two fundamental aspects: ends and means — what is to be achieved and how it is to be achieved.
The opportunities can be viewed from two lenses. First, an internal lens from the business side, and second, an external lens which focuses on macro environment, industry & consumers.
An entrepreneur’s major task in society is doing something different rather than doing better what is already being done. In simple words the entrepreneur upsets and disorganizes.
Organisations are required to constantly look for newer ways of creating value. Entrepreneurs and intrapreneurs play a decisive role in this regard, as they help the organisations (newly established or existing) to engage in new business and enter new markets.