Signature Assignment: Adding Value to the Organization

Company name: Target

Company website URL: https://www.target.com/

3 to 5 entrepreneurial strengths of the company (90 – 175 words)

The ability of the company to constantly be innovative is a key strength that enables it to stand out among the competitors. It leads to the development of the company productivity as it remains updated to the latest technological practices that are appropriate to adopt and focus on.

Being passionate on what the company does is a key factor that enables the company to stand. It has led to the creation of a positive working culture that creates a sustainable position for the company to constantly evolve and remain productive (Sarasvathy, 2018).

The ability of the company to take risks despite of the surrounding circumstances is a factor that enables the company to remain at the top of the industry. The risk taking ability enables the company to experience high rewards.

Major elements of the company’s approach to entrepreneurship and value creation (175 words) 

 The key element towards the approach to entrepreneurship and the creation of value is an aspect that needs to be positively respected. Innovation is a key element that involves regular creativity to enable the company to have a competitive advantage over others (Sarasvathy, 2018). It is a research based approach that leads to the creation of reliable staff that is oriented towards the attainment of the company goals. Organization is a key factor that surrounds the management practices that the company adopts (Hisrich, & Ramadani,2018). The measure is focused towards creating an organizational structure that supports the daily company practices and makes the management process to be easy for the company. Risk is a key factor that the company needs to be willing to take. This based on the regular factors that surround the application of the correct approaches that surrounds reward and the extent to which the company is willing to create to promote expansion and survival. The company needs to have a vision that determines the path that the company takes in terms of efficiency. Vision is vital as it guides the path that the company takes in future.

1 action the company could take to increase entrepreneurial value creation

The company needs to make more investment on technology. The practice entails the employment of a young taskforce that is willing to adopt by the latest technological practices. The focus is to create the desired competitive advantage.

References: 

 Hisrich, R. D., & Ramadani, V. (2018). Entrepreneurial marketing: A practical managerial approach.

Sarasvathy, S. D. (2018). Effectuation: Elements of entrepreneurial expertise.