The Rise of Reliance India Limited: A Tale of Entrepreneurial Vision and Technological Innovation

PART A: Case study

Profile of firm

Demographic profile of Entrepreneur

Motivation to start business

Future Plans

The business should follow trait theory; which is a hypothesis holds that business enterprise created in light of the fact that the people called business visionary had certain particular spoils or attributes or skills which made them equipped for producing new thoughts and making another endeavor. Effecutation theory portrays a way to deal with settling on choices and performing activities in business enterprise forms, where you recognize the following, best advance by surveying the assets accessible so as to accomplish your objectives, while constantly offsetting these objectives with your assets. The flow in the business needs to work on guiding the positive thinking and productivity while enhancing the chances of success. Combing the factors of success guarantee the entrepreneur would achieve their target effectively and quickly. Effectuation is termed as a form of reasoning a solving the problem that assumes that future is largely unpredictable but can be controlled through a series of modulated human actions. In case of business the market is highly dynamic in nature and unpredictable giving rise to financial crisis and dry spells of profit. This is in stark contrast to other form of reasoning casualty assuming the future is predictable based on the prior events. For entrepreneurs navigating this dynamic landscape, seeking business dissertation help can provide the needed insights and strategies for success.

It should be duly noted that effectual reasoning is contrasting to the casual reasoning taught in business schools. Normally it is seen that digital strategy and a clearly defined goal and description is the needed milestone to reach the objective. The two type of reasoning have value for different kinds of projects. Firstly project with high degree of uncertainty have a detailed strategy that makes sense. Secondly a lot of project high degree of uncertainty, but as the entrepreneur works and learn they should change the course of the project depending on the scope that arises. In modern literature one can see a conflict among scholars in regards to the acceptability of the causes for effectuation approach. Effectuation approach is stressed on the uncertainty of the entrepreneur environment in future. Thus, it can be conclusively stated there needs to be a change in the academic structure relating to business studies. do young businessman need to be taught that industry in the modern times are highly dynamic and susceptible to sudden changes routine for the traditional ways of casualty management may fail to give the expected rates of profit

However, trait theory puts forward a different perspective towards business. The trait theory puts a perspective that the entrepreneur is likely to success in the course of business due to the existing innate traits that further helps them to produce new business ideas. The innovative and competitive approach to business can work on attracting more customers, while promising better profit margins.

PART B:

Define technology entrepreneurship

Technology entrepreneurship is often perceived investment within a project that deploys or assembles specialized individuals of heterogeneous assets that are complicatedly related in regards to the advances with the technological and scientific knowledge for the sole motive to create and capture value for the firm

Features of technology entrepreneurship

The feature of the mentioned concept is to change the potential scientific research into suitable products and eservices. The mentioned intervention can work on enhancing the benefits to the customers leading to the faster economic growth of the business. The Reliance India Limited works on addressing the existing business issues and works to provide services to the Indian customers at an affordable price. Ambani is not generally afraid to take risks; this is in contrast to earlier scenarios that work on suggesting that serial businessmen are often afraid of taking risks and they are often subjected to risks and non-specific and uncertain events (Read, 2011). Reliance in the mentioned scenario is seen to make use of technology for understanding behaviour of the consumers and producing products as per the customer demands. Bill Gates, clearly understands the importance of being social and tech. It can be clearly stated digital demagogue earned billions by anticipating the market's needs.

Businessmen are seen to enjoy the challenging environment linked to the establishment of new businesses in new industries. It seems that the businessman is able to think outside the box and hence work on the aspect of innovation. Furthermore, it can be clearly stated that technology can be harnessed for bringing about the expected social good. Social technology in business can be termed as a way of implementing digital resources and intellectual for influencing the existing social procedures such as social hardware and software. The aspect of social technology can be implemented for harnessing the toughest challenges within the world. In the fashion industry, the mentioned mode of technology can be used to reduce disposable fast fashion, by allowing access to events such as upcycling.

In the mentioned case, it can be stated Ambani is a good example of change in attitude as per the changing dynamic of India. It may be assumed that Ambani has a background of adventurous attitude which emerged out as a potential motivator in digital change within the country.

Ambani had been exceptionally isolated and was censured for his internal looking business approach and not scaling up the current undertaking of oil. Inside the current household showcase, in the wake of building one more treatment facility in Jamnagar and making interest in hydrocarbon in 2010, the businessperson brought a second dive into the media transmission industry. Dependence Jio tied up with Original Equipment Manufacturers for getting start to finish gadget structure and parts of designing and began to reveal the physical framework and inside the range of two years Reliance Jio increased business achievement and obtained approximately 350 million clients in only three years and rose as a second biggest player inside the Indian media transmission industry (The Economic Times, 2020)

REFERENCE LIST

Burns, P., (2014) New Venture Creation: A Framework for Entrepreneurial Start-ups, Palgrave Macmillan, Basingstoke.

Carter, S., & Jones-Evans, D. (2012) Enterprise and Small business: Principles, Practice & Policy, 2nd Ed, Prentice-Hall. London

Evers, N., Cunningham, J., & Hoholm, T. (2014) Technology Entrepreneurship: Bringing Innovation to the Marketplace, Palgrave Macmillan, Basingstoke.

Evers, N., Cunningham, J., & Hoholm, T. (2014) Technology Entrepreneurship: Bringing Innovation to the Market, Palgrave Macmillan, Basingstoke.

Gabrielsson, M., & Kirpalani, VH., (2012) Handbook of research on born globals, Edward Elgar, Cheltenham (Available as an ebook in Ulster library).

Gandhi, N., (2011) Born Globals, Hothive, Evesham

Hisrich, R.D. (2013) International Entrepreneurship: Starting, Developing, and Managing a Global Venture, 2nd Ed, Sage Publications, Thousand Oaks.

Read, S. (2011) Effectual Entrepreneurship, Routledge, London (Available as an ebook in Ulster library)

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