The Importance of Entrepreneurship and Enterprise in the UK Case Study

The Importance of Entrepreneurship and Enterprise in the UK - Case Study Example As such, effective planning, control, organization, and coordination within a typical travel agency must be evident fro the efficiency and effectiveness of the services offered. The past studies and researchers on business management and entrepreneurship has extensively criticized the pure approach to formal strategic planning. Mintzberg (1978) argued that "contemporary prescription and normative techniques to business analysis and planning seem unable to address the complex reality of strategy formation". This was supported by Peters and Waterman (1982) when they concluded that formal strategic planning leads to "paralysis induced by analysis". Hills (1994) similarly found out that formal strategic planning was useful in the evaluation of opportunities, setting priorities, and implementation but not at the creative stage of identifying opportunities. In this regard, it appears that a good business strategy makes it a point to integrate and harmonize the goals, policies and actions of the organization into a tactical coherence in order to ensure and guarantee the success in the industry. The integration of the conservative and traditional management practices was observed in the ever-increasing complexity of the business environment. The technological advancements that characterizes the information era at present paved the way to the efficient conceptualization of more creative and effective business frameworks which when utilized by business companies will open more possibilities and better position in the competitive atmosphere in the industry. Hence, identifying the use of the control and the creative aspects in operating a business should be distinguished by a well-rounded entrepreneur. These will serve as the key to achieving the economic goals set by the by the entrepreneur for the overall success of the business since pure approach to operating a business venture will not exhaust the full potential of a particular business establishment. This paper aims to define what a "best entrepreneur" is, the qualities and characteristics of a good entrepreneur will be presented. The study chose two best entrepreneurs from United Kingdom, and they are Anita Riddick, the founder of The Body Shop and Joe Ashburner of Noonoo Designs. Entrepreneurship Entrepreneurship is valuable to the enterprise and also necessitates creativity as this aspect involves a constant search for new ways to compete in the market place. As all firms are always on the constant renewal mode, creative ideas must always be within reach. Indeed, the enterprise needs individuals who can couple a firm's capability and adapt to the rapid changes of the marketplace. This is not a role shouldered by the management alone, but must be shared with the participants as well, especially those working closely closest to the customers. Value-added entrepreneurial capability includes the ability and willingness to remain alert to the opportunities to the firm and to participate in the development of a solution. So as to make the most of each individual's contribution and productivity, it is probably more effective if each will be given an area of expertise. In this way, an individual can develop a capability in that arena, which will not only apply to individuals but also to their organizations. Network leadership must also enlist coalition attitudes so as to rekindle a sense of community. For an organization, this is a sense of belonging even if it is for a short period of time.