Analysis Of Nanode Battery Technologies And Comparison Of Entrepreneurial Ecosystems

The selected company for this assignment is Nanode Battery Technologies that requires a high- performance battery for transportable electronics, electric vehicles and to provide the energy storage for recurrent renewable energy resources. The company is engrossed on designing and producing high- performance anodes for lithium and sodium ion batteries which can meet the needs and preferences. The organisation produces metal alloy anode which is higher in providing the energy storage capacity and it even abbreviates the manufacturing process as compared to the traditional anodes. Nanode Battery Technology is a privately held company that has a team of 50 employees who are skilled and experienced in their fields.

The business’s success completely depends upon the environment which is surrounded by it. It is similar to the fact that a healthy plant totally depends upon the climate and soil around them and similarly, the new businesses depend on the several factors which are related to the geography in which they operate. Altogether, all of these factors include an entrepreneurial ecosystem which can make their life either easier or harder. There are a total of three attributes of entrepreneurial ecosystem which includes cultural, social and material. This section of the assignment will discuss about the ecosystem of Delhi and Toronto as compare to Edmonton, Canada.

The entrepreneurial ecosystem in Delhi, India is the fastest growing and third largest ecosystem across the world (David, Gopalan & Ramachandran 2021). The number of new organisations is steadily increasing over the past few details and an unprecedented number of around 10,000 organisations have been created in 2015 alone.

India is a developing country and it gives a huge importance on education. The maximum number of students within the regions of India are graduate or postgraduate. Therefore, it can be said that there is a presence of skilled workers who are willing to work at the start- ups with a decent salary.

The political factors directly impact the capital market of India. For several years, the region has been going through a political turbulence due to their dispute with the neighbouring countries which might impact the business start- up (Gandhi, Batra & Gupta 2019). Apart from this, there are a number of well-known universities who train the entrepreneurs and produce knowledge among them.

Whether it is about getting to start the business or looking to grow an existing organisation, the region of Toronto provides an ultimate environment for the entrepreneurs as well as the technology leaders to have a deep talent pool along with a competitive business environment (Mohler, 2012). In addition to this, there are a huge number of resources which are available to help the business grow.

Toronto is full of accomplished entrepreneurs and business leaders who can provide feedback and give advice to the other entrepreneurs. There is even a presence of social network which can connect the entrepreneurs and others and can allow a constant flow of knowledge and skill.

The region of spectrum of services to the entrepreneurs who wants to launch and grow their business within the region. There are several support services which offers a free review to the new business plan which helps the entrepreneurs to have a confidence in their business. Toronto is a home to 2500 active technology start up and it is even one of the largest innovation hubs across the world (CHUN & LEE 2021).

Comparison of Business

The start of culture in Edmonton is gaining maturity and there has been an acceptance among the people towards entrepreneurship or start- up.

Edmonton is said to be one of the fastest developing and youngest cities in Canada. The regional labour force in Edmonton is around 8,35,000 (Bushey, 2017). In addition to this, Edmonton even has social networks present which can help the entrepreneurs and others to have a flow of knowledge and skill.

Edmonton has availability of sufficient office space along with the transportation and telecommunication infrastructure that will help the start- up to create venture and achieve growth (Kirkland, 2020). In addition to this, there are several universities in the regions of Edmonton that she in the entrepreneurs to have sufficient skill and knowledge among them.

After analysing and comparing the ecosystem of Delhi, Toronto and Edmonton, it was observed that they have more or less similar ecosystem for entrepreneurship. The only aspect that Edmonton can focus on is the education facility so that they can have skilled and knowledgeable workforce who will help them in attaining success in the start- ups.

Organisational ecosystems are an important topic for the business leaders. The ecosystem of business comprises of distributors, suppliers, competitors, customers, government agencies and more who are included in the delivery of a particular product or service with the help of cooperation and competition (Kamargianni & Matyas 2017). The ecosystem of an organisation is more important it includes the business landscape and community in which the business is currently operating. It has been observed that the highest valued organisations across the world are progressively employing the ecosystem business models in order to effectively and quickly generate the value of customers. Therefore, it can be said that the organisations currently are entering into an era of ecosystem where maximum number of organisations will exploit the business model in order to drive innovation as well as efficiency in the capital which can create value among the customers (Rinkinen & Harmaakorpi 2018). An organisation is a part of ecosystem which offers mechanisms to leverage the technology, obtain excellence in business competence and research, as well as compete efficiently against the rival. Some of the major goals of business system consists of driving new partnerships in order to address the increasing social and environmental challenges so that the company can offer solutions and attract their customers. 

This section of the assignment will Analyse the competitive advantage of Nanode Battery Technologies company with the help of VRIO framework. This particular framework is used to evaluate the related resources and capabilities of an organisation. VRIO is an acronym for value of the resources and capabilities, rareness of the resources and capabilities, risk of imitation and organisational competency.

From the above analysis, it can be said that the company has a temporary competitive advantage as compared to the other well- established organisations within the marketplace. However, if the company focuses on a constant innovativeness, then there are high chances that they will be able to achieve a sustainable competitive advantage within the marketplace of its operation.

Ecosystem of Delhi

Alberta is a place that has history of generations of innovators. The region has been an innovative ecosystem for several decades and it is also known as one of the entrepreneurial capitalist hubs of Canada. The tech companies have increased from 1,200 in the year 2018 to over 3,000 in the year 2020 (Spigel, 2017). Therefore, it can be said that the company of Nanode Battery technology can be successful as they will be getting huge entrepreneurial support from the region.

Nanode Battery Technology company has been used for this assignment because it is a small and medium- sized company that offers revolutionary battery anodes. The company develops the battery with a simple and scalable one step process through which they are able to increase the energy density of battery by 50% while reducing the cost with a dramatic reduction in material usage. Also, the company has a set of skilled and knowledgeable people who are working constantly for the growth and success of the organisation. The company has a potential for growth if they constantly innovate and this is the reason of choosing the organisation.

The organisation lacks in business planning which might be due to the lack of leadership development within the company (Copeland & Henry 2017). Due to the lack of business planning, the company is not able to introduce innovativeness or follow the current trends within the market. This has made the growth of the organisation stagnant due to which they are not able to compete with in the competitive marketplace and are not also able to make profits. The tech company does not have an effective leadership which might be one of the major causes for the lack of innovativeness within the organisation.

There are several start up organisations who have been able to stand out in the crowded marketplace giving a tough competition to the competitors (Victor & Hoole 2017). However, for the company of Nanode battery technology, making the business to stand out has been very difficult. One of the major reasons of this is an intense competition within the marketplace along with the lack of time, money and resources that the company is not bale to implement in it.

In order to have an effective strategy within the organisation, it is important for the company to initially set up the needs and goals of the business and the experience that they want their customers to have. Firstly, in order to have an effective strategy the company must have an effective leadership which will help them to move into the right strategic direction (Maslach, 2017). Apart from this in order to make the business stand out, the company must offer their customers with a high-quality product, an extraordinary customer service, convenience with delivery and stock availability, the company’s expertise as well as the price, which must be set less than their competitors (Jackson, 2018). Apart from this, the company can even hire consultants who will help the company to strategize plans according to which the company can operate, innovate according to the market trends and ultimately gain a competitive advantage over their competitors, maybe not in revenue but in offering customer service.

References:

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