Unit V

CASE STUDY ANALYSIS

CASE STUDY ANALYSIS 4

Unit 1 Assignment

Tiffany Chism

Dr. Harris

January 28, 2022

Entrepreneurship: The practice and mindset

Comparison of entrepreneurship types

Starting your entrepreneurship journey is never an easy thing, with most start-up ventures often experiencing failure due to shifting market requirements and competition. With the current modernization of business activities and increasing globalization effects, it is evident that companies and entrepreneurs need to always ensure they assimilate proper R&D tech. to improve on their product quality and market outreach. Just like any entrepreneurship start-up, the initial market entry will present various challenges and risk exposure (Fuller and Haefliger, 2013).

Addressing the root cause of the challenging business threats is critical for any company to attain market success aspects. In the case of the Gyan, the organizational risk exposure in a technological era that is characteristic of frequent changes in tech. innovation is quite enormous. By this, the start-up company sought to provide consultation and IT management services for small businesses and non-profits. However, the high risk exposure associated with online and tech. implementations like cyber-security issues and information loss influenced the company’s market risk exposure (Neck and Murray, 2021). It is also worth mentioning that the limited access of experienced IT staff affects the tech. company’s ability to establish the satisfactory technology innovations.

Gyan business model and how it fits

With the rising cases of malware, cyber-crime cases, and loss of confidential business data, the involvement by companies in cyber-security businesses gained a lot of attention. The approach to the business environment used by Gyan centered upon the basic demand and supply motivation. By this, most businesses have been in pursuit of website management, increased online presence, and global networking. Specifically, the company business approach to the digital market is characteristic of a bricks and clicks model considering they operated both under remote service provisions as well as the use of offices to meet up and address client issues. Their business approach is necessarily quite beneficial to the company considering the modernization of most business activities because of increasing consumer online presence and the rising use of technological innovations (Neck and Murray, 2021). The services offered by the organization to most of the small businesses present explicit risk assessment of market elements, reporting the findings concerning their risk exposure, and facilitate expert consultations. To expand their market niche, it would be helpful for the Gyan tech. company to implement a B2B business model especially with their rising market dominance and the increasing demand for their digital cyber-security services.

Type of entrepreneurship by Gyan

The Gyan organization portrays elements of a company with founders who are continuously seeking to provide their customers quality service offerings. The entry by the company into the digital and cyber security market as a start-up in 2011 did present the entrepreneurs with enormous challenges especially considering their lack of infrastructure, outside investments, and the increasing external technological competition. For instance, the lack of proper IT infrastructure forced the adoption of SaaS (Software-as-a-service) tech. which was quite substandard compared to the technology innovations used by other business entities in the market environment. By establishing strategic business approach using inbound marketing, Gyan entrepreneurs were able to realize the substantial increase in their consumer outreach using online targeting of potential businesses and websites in need of their services.

References

Baden-Fuller, C., & Haefliger, S. (2013). Business models and technological innovation. Long

range planning, 46(6), 419-426.

Neck, H. M., Neck, C. P., & Murray, E. L. (2021). Entrepreneurship: The practice and

mindset (2nd ed). SAGE.