Institute of applied entrepreneurship Assignment

Institute of applied entrepreneurship - Assignment Example I would like to personally thank you for reviewing my letter of employment and genuinely hope you will find my entrepreneurial competencies to be a valuable fit for your grand organisation with a rich history in the United Kingdom. 1. Introduction Thornton’s Chocolate was founded in 1911 by Joseph William Thornton, establishing a very recognisable brand in the United Kingdom ever since. Now that Cadbury has been taken over by Kraft company, Thornton’s is now considered the largest independent chocolatier and confectionary business in the UK. Through decades of brand-building activities and increases in sales revenues, Thornton’s now boasts 360 different shops and a variety of franchises across the United Kingdom supported by 2011 revenues of ?218 million (Thornton’s 2012). Thornton’s has, however, experienced problems with maintaining market share among major competitors and the business is losing sales revenues, especially in the High Street stores that sell Thornton’s products. Thornton’s has always maintained a premium positioning strategy, justifying a higher-priced model associated with legitimate and consumer-perceived brand quality. Because of this, the business is seeking a revitalisation and restorative business strategy designed to give the business a more contemporary brand image with important target markets. This letter of employment is to illustrate entrepreneurial characteristics both internally and as related to the employment candidate to illustrate how the candidate’s competencies can benefit the new positioning of Thornton’s for sustainable success and profitability. 2. Defining the entrepreneurial organisation An entrepreneurial organisation is one that is willing to absorb risks, as being able to compete against well-established competitors, such as Cadbury, requires making decisions that are innovative and do not have a precedent established. This is necessary to achieve unique competitive advantage and differentiate one business from another that offers similar products with like characteristics and benefits. It is the risk-taking prowess of important organisational leaders that establish the foundation for an entrepreneurial organisation (Covin and Miles 1999). Once this entrepreneurial spirit has been established, the entrepreneurial organisation becomes one that is equipped to develop new products and services. A corporate entrepreneur focuses on establishing efficiencies and productive structures that can assist the organisation in aligning strategic intentions with external market conditions (Dess, Lumpkin and McKee 1999). Outside of basic managerial or executive-level decision-making such as budgeting and cost control, the entrepreneurial organisation recognises opportunities to make positive changes and then aligns the internal operational and staffing models to achieve strategic goals related to the opportunity. The entrepreneurial organisation m aintains staff and managers that are able to juggle innovative ideas in their imaginations that translate into creative work to better position the business competitively. This type of organisation looks toward people and product as tools for achieving profit growth (Gaglio and Katz 2001). Innovations should occur in human resources policies and procedures as well as related to the actual product or service in order to be considered

Strategic Action Plan Essay Example | Topics and Well Written Essays - 500 words

Strategic Action Plan - Essay Example The location of the site is approximately one mile from a residential area and a surface local water withdrawal point. Farmers get irrigation water downstream from the site. Even though the drums are not marked, there is a strong belief that wastes from the industrial activities conducted 60 years ago include chemicals like chromium waste, PCBs, Toluene diisocyanate (TDI) and Acryl amide. The first step entails the process of identifying the natural properties of the chemicals present in the waste site, which may cause negative health impacts when exposed to human beings and other living things (Lu, & Kacew, 2002). Water and soil analysis will be conducted to ascertain the natural properties of the four chemicals present in the site and their adverse effects following their exposure. The water will be drawn from the stream near the damp site while soil will be collected from the surrounding farms. This step involves assessment of the significant aspects on quantitative and qualitative reaction to the chemicals present in the waste site. The major aspects considered in the hazard characterization process entail action mechanism, difference in reaction by the species, level and route of exposure (Lu, & Kacew, 2002). This procedure evaluates the numerical link amid exposure to the chemicals and effects. The process entails assessment of the dose at which an injurious effect s from the toxicants takes place. Exposure assessment considers the magnitude, frequency and duration of exposure to the chemicals for the entire populace, individuals or specific subgroups. In this step, a survey of the population leaving near the waste site will be conducted. Data collected via semi-structured questionnaires to ascertain evidence of illnesses, infertility, fetal birth abnormalities and death linked to the chemicals will help in ascertaining the risk of exposure (Acton, 2012). Determination of exposure will be conducted via computer models which, include questionnaires