Aiming to generate a fair and comprehensive view of the various corporate entrepreneurship as well as innovation initiatives, this business report will endeavor to plunge into an in-depth analysis as well as discussion related to the topic. The business report will also endeavor to employ and understand the various concepts, theories to analyze the situation. In order to apply the various innovation strategies and the corporate entrepreneurship, the report will take into consideration the company named Atlassian. The business report will argue for the fact that organizations need to implement the corporate business and innovative strategies to accentuate the future prospects. The following business report will endeavor to throw light on the various current issues faced by the company. The new strategies are required for the company to inculcate the new ideas for the future. The following paragraphs will discuss about the innumerable issues that are faced by the organization. The following paragraphs will devise strategies to mitigate these issues.
The organization, Atlassian, is a software development tool company that was established to deliver proper service to the clients and customers (Atlassian, 2019). The organization strives to develop software for the software developers. The software developed by the software organization has been used by online platforms such as Ebay and Flipkart. The organization operates in seven countries. However, it is seen that the organization needs to incorporate the notions and concepst of corporate entrepreneurship.
Context of the Issue
A closer look at the case will reveal that the issue is based on the development and implementation of the various entrepreneurial concepts and innovative strategies to meet as well as delete the existing challenges. Another closer look will project the fact that the context is based on the idea that the above-mentioned company, Atlassian, needs to develop the available strategies to enable the future sustenance of the company. In addition, the context reflects upon the idea that in order to incorporate the myriad corporate entrepreneurial as well as innovative strategies, it is essential for business organizations to expand upon the available resources and ideas (Reisberg & Rumbley, 2015). The context also reflects upon the idea that various integrated measures such as integrated communication skills, analytical thinking, analytical problem solving and correct and fruitful teamwork can help in erasing the problems and issues faced by organizations such as Atlassian (Jackson, 2015).
Needless to say, the issues faced by Atlassian are emblematic of the innumerable problems that are faced by the business organizations willing to indulge in corporate entrepreneurship. Thus, it can be said that the current context is reflective of the generic situation of the innumerable corporate companies.
According to the findings, it can be mentioned that Atlassian faces certain challenges that can threaten the future prospects of the above-mentioned organization. A closer analysis of the organization will project that the company faces the challenge and issue of garnering appropriate resources. It has to be accepted that the implementation of corporate entrepreneurship demands the proper acquirement and collation of the resources. For corporate businesses to succeed, it is essential to collect the required information and resource for the purposed of evaluation of the activities that shape the day-to-day functioning of the business organizations (Dagiliene, Leitoniene & Grencikova, 2014). The surging problem of inadequate resources can act as an impediment in the path of future progress of the enterprises such as Atlassian (Adisa, Abdulraheem & Mordi, 2014). The aspect of the lack of resources can be the result of the poor planning of the authorities. The sheer lack of resources can also be the result of certain unforeseen events that can impede the proper availability of required resources.
Another issue that is faced by Atlassian is the important and serious issue of the changing market scenario (Cavalcante, 2014). Due to the rapid advancements in the field of technology, it is quite natural for other companies to replace the above-mentioned organizations. Due to the advancements, most of the business organizations strive to improve the available resources to throttle competition (Sahebjamnia, Torabi & Mansouri, 2015). Recent studies reveal that integrated technological applications and facilities are employed by the software development organizations to stand apart from others. Competitors of Atlassian includes GitHub, that promises to deliver quality service and develop software to suit the challenging needs of the modern times (GitHub, 2019). In addition to this, the competitors also incorporate the innovative measures to replace others (Bohnsack, Pinkse, & Kolk, 2014). Further, it can be said that Atlassian also faces the threat and issue of being replaced by the new startups that are chiefly based on the inculcation of technological ideas (Hanson et al., 2016). Atlassian needs to keep a stringent check upon the changing scenario at the market and the changing demands of the clients of the software. Needless to say, without the availability of proper resources, it is a challenging situation for the above-mentioned company to understand and adopt measures for the changing situation at the global market.
Further, it is to be seen that Atlassian faces the issue and challenge of proper research and development. Studies are emblematic of the fact that it is important for business orgsnizations to develop the aspect of research and development (Li & Hall, 2016). Atlassian faces the issue of lack of proper teamwork dedicated to research and development. Studies depict that research and development assists business organizations to gauge the areas that need to be developed and improved. It has to be accepted that the research and development department of business organizations helps in gauging the areas of competitive advantages that can be improved to enhance the future prospects. In this context, enhancement of research and development can assist in the development of the strategies to enhance the existing products for the development of new products.
After analyzing the above-discussed issues and challenges faced by Atlassian, it can be mentioned that there are certain solutions available to improve the situation and to implement the various innovative strategies. Given the scenario, it can be mentioned that the situation faced by the above-mentioned organization can be mitigated by the adoption of proper and concrete measures. The initiatives of corporate entrepreneurship and innovative strategies can be implemented by following certain measures.
In order to resolve the issue of garnering appropriate corporate resources can be resolved by the adoption of measures of corporate entrepreneurship. Corporate entrepreneurship refers to the manner in which the aspects of innovation as well as growth are collated to develop the available resources and products for future development (Turró, Urbano & Peris-Ortiz, 2014). Innovative measures such as identification of the exact areas that cause problems can assist in understanding the exact areas and measures that need to be adopted accordingly. Studies are emblematic of the notion that entrepreneurship is an activity that chiefly depends on the availability of proper resources. In order to realize the goal of entrepreneurship, it is necessary for Atlassian to imbibe the correct practices. In order to pool the existing resources and to trace the new resources, it is important to adopt the innovative concept of each team member participating in delivering ideas about the resources.
Needless to say, to resolve the issue, business organizations need to adopt and develop concrete communication amongst all the members and employees. Studies have depicted that the establishment of measures of communication amongst the employees can ensure the proper delivery of relevant information in every strata of the organization. In order to ensure concrete and effective communication, it is proposed that the innovative measure of engaging exchanges through online platforms such as Whataspp and Email are used by managerial heads (Tawiah, Nondzor & Alhaji, 2014).
Secondly, the issue and challenge of new entrants and start-ups can be erased by the adoption of corporate entrepreneurial and innovative methods. In order to delete the issue, it is proposed that the framework propounded by Porter should be used. Various theories propound that the analysis of the innumerable external threats can assist organizations in gauging the most powerful threat. The theory propounded by Porter can also help in adopting policies and measures that can assist in throttling the upcoming competition that is posed by start-ups or others. In addition to this, the concept and framework of PESTEL analysis can prove to be effective in analyzing the external factors that can affect the smooth functioning of the company. In addition to this, the idea of corporate venturing can assist in staying strong in the competition. Corporate venturing refers to the technique of the creation of internal business enterprises (Minola et al., 2016). In this way, Atlassian can bear the brunt of the competitive market. Studies also reveal that the aspect of innovative organizational transformation can assist in the betterment of the organizations. Small and innovative organizational changes such as changes in policies and ideologies will help in the exact identification of the problems and introduce the necessary changes.
Further, innovative measures such as the adoption of new technologies can also assist in adopting to the changes in the scenario at the market. It can also be said that due to the intensely competitive nature of the markets, it is essential to adopt the ideas of corporate entrepreneurship. Concepts and frameworks such as modification and introducing flexibility to the already existing rules of the company can help in the inclusion of innovative measures to address the various issues (Anastassiu et al., 2016).This framework of the introduction of flexibility to the various norms can also assist in the inculcation of ideas relevant to the development of the organization. In this scenario, it can be mentioned that the inculcation of flexible organizational rules can assist Atlassian in inculcating the various new measures to adopt to the changes.
In addition to this, it can also be said that the issue and challenge of the lack of comprehensive and proper research and development areas. In order to address and resolve this issue, it is necessary for the above-mentioned organization to adopt the innovative measures. The innovative measures can assist in the development and implementation of the corporate entrepreneurship models. Studies and theories are emblematic of the fact that the inculcation of various innovation metrics. The framework of innovation metrics refers to the collation of input and output metrics to arrive at concrete ideas related to the areas of resource allocation and innovation. It has to be accepted that the concept of innovation metrics can be used to measure and gauge the various areas that need to be modified in an innovative manner. In addition to this, the aspect of the development of research and development can be achieved and addressed by the inculcation of external scientific and technical areas and experts to provide relevant ideas on the above-mentioned aspect. Corporate entrepreneurship and innovation strategies can be applied to the aspects of research and development. Therefore, it can be said that these theoretical measures can assist in addressing the various issues and challenges.
- It has been recommended that business organizations such as Atlassian needs to adopt innovative measures related to corporate entrepreneurial activities to match to the high level of competition in the market and to throttle the intense competition.
- It has been recommended that Atlassian should incorporate corporate entrepreneurial and innovative measures such as Corporate Venturing to assist the firm to survive the intense competition.
- It has been recommended that Atlassian should adopt and incorporate measures such as organizational policy restructuring and innovation metrics to enable the inculcation and penetration of innovative ideas for future sustenance.
After analyzing the above-discussed ideas, it can be mentioned that companies such as Atlassian function in a proper manner. However, the various issues and challenges related to corporate entrepreneurship and innovation strategies need to be addressed to ensure the future sustenance of the organization. In conclusion it can also be mentioned that the issue of lack of proper resources, the threat of changing market scenario and the issue of research and development can be addressed by adopting various relevant measures.
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