Strategy management Essay Example | Topics and Well Written Essays - 3500 words - 1

Strategy management - Essay Example According to the author innovation is a discipline that can be learned and practices through different levels and strategic movement of an organisation. Drucker (2014), has evaluated that entrepreneurial strategies are the practices and policies of organisations to establish as well as re-establish the fundamental relationship with the external organisational environment. The author has illustrated that innovation in entrepreneurial strategies assist organisation to adopt changing economic characteristics of market, product, process and industry. It also enables entrepreneurs to search and occupy specialized as well as ecological niche (Drucker, 2014). Druker (2014), has evaluated the importance of innovation in the entrepreneurial approach towards the formulation and implementation of organisational strategies. The analysis of the role of innovation and entrepreneurial approach in the organisational strategies has illustrated various important attributes which as aimed to lower down the barriers towards changes that often discouraged by top management. The author has explained that innovation and entrepreneurial approach has allowed organisations to reform their strategies to secure the leadership position by introducing new products, processes and services. This approach influences the organisations to become more risk-averse while offering greater rewards upon success. The innovative approaches of the business strategy of Blackberry can serve as an important example in this context (Drucker, 2014). Their undeniably captivating and irresistible mobile e-mail facility innovation has assisted the marketers to gain a rapid popularity within global market. Their market strategy to become first-to-market has neutralized the effects of their premium pricing strategy. Hence, the incorporation of innovation and entrepreneurial approach has assisted the organisation to secure leadership position in the market. Alternatively,