assignment 1 unit 20

Enterprise in IT

259495
Christine Akede
Contents
What is an Enterprise.................................................................................................................... 3
Expertise: entrepreneurial and technical.......................................................................................3
Motivating teams and co-workers.................................................................................................3
Enthusing and inspiring others...................................................................................................... 3
Commitment to work.................................................................................................................... 3
Factors that make enterprises successful................................................................................................4
listed below are necessary for an enterprise to succeed:....................................................................4
• Teamwork....................................................................................................................................4
• Competitive advantage................................................................................................................4
• Access to finance for start-up/ growth........................................................................................4
• Positive perception that is communicated..................................................................................5
• Product champions promote.......................................................................................................5
• Effective Customer Service..........................................................................................................5
A.P2: Perform an audit of own entrepreneurial and IT skills, describing any skills gaps...............6
A.M2: Perform a realistic audit of own skills, explaining how any skills gaps could be overcome.7
A. D1: Evaluate, using examples, the principles and characteristics that lead to successful
enterprises and your own skills, justifying how any skills gaps could be effectively overcome.....7
Examples of Successful Enterprises............................................................................................... 7
Google.....................................................................................................................................................7
The Principles and Characteristics that lead to Enterprise Planning..............................................8
What is Enterprise Planning....................................................................................................................8
Traditional Business Plan.........................................................................................................................8
Essential components:.........................................................................................................................8
Lean Business Models..............................................................................................................................9
Example of Entrepreneurs.......................................................................................................................9
Google.................................................................................................................................................9
Microsoft.............................................................................................................................................9
Personal Entrepreneurial Attributes......................................................................................................10
Recognizing and Overcoming Skill Gaps................................................................................................10
Evaluation.................................................................................................................................... 11
Task 1
What is an Enterprise
Enterprises are businesses or companies that priorities making a profit. Businesses function by
creating products or offering services, then selling them to customers to fulfil their needs and
desires. An entrepreneur who has the concept for the business is necessary for it to be
founded. Entrepreneurs design, launch, and manage their enterprises with the goal of making a
profit from the commercialization of their ideas and build wealth. There are two basic motives
for entrepreneurs to launch a firm.

Expertise: entrepreneurial and technical

Entrepreneurial expertise is associated with efficacy in matching strategy with situation.
Technical skills are essential for them to master because they have helped budding
entrepreneurs become a master of all. They enable individuals to identify opportunities, take
risks, innovate, and create and grow new ventures, which can lead to personal and professional
growth.

Motivating teams and co-workers

Motivated employees are happier with their working lives, and have a goal to be working
towards. These employees are less likely to miss work without good reason. Having a motivated
workforce has a range of advantages, such as lower levels of absenteeism, retention of workers
and low levels of staff turnover, improved relations between management and workers,
improved worker performance, improved quality and improved customer service.

Enthusing and inspiring others

The role of leaders and managers should be to enthuse and encourage employees so that they
can create a different shared value: enhancing employees first and customers second. The most
effective leaders are both task- and relationship-oriented.

Commitment to work
High levels of employee satisfaction in an organization are related to work commitment and
engagement in the organization. It results in superior business performance, which in turn
results in increased profitability, productivity, employee retention, and overall employee
experience improvement in the work atmosphere. Committed employees bring added value to
the organization, including through their determination, proactive support, relatively high
productivity and an awareness of quality. Employees' being committed to work are also less
likely to call in sick or to leave the organization.

Factors that make enterprises successful

An organization needs to have a variety of components in order to grow and succeed, including
elements that will boost its production, reputation, and other factors. The elements.
listed below are necessary for an enterprise to succeed:
• Good entrepreneurial and IT skills – The five important components of effective
entrepreneurship are finance, communication, leadership, time management, and sales
abilities. Once an organization has implemented and put all five qualities into practice, success
is certain to follow. To perform tasks and achieve goals, businesses would need to have the
fundamental IT skills, data management skills, which include managing database and
spreadsheet software, and word processing abilities, which involve creating and modifying text
on a computer using specialized software. Together with these, desktop publishing and social
media management would be used.
• Teamwork – Good teamwork would allow all members of the workforce to share ideas and
tasks in the aim of lowering everyone's overall stress levels and enabling them to be
thorough in their task completion. This would enable the workers to achieve sales targets,
which would ultimately improve the success of the entire company rather than just their
particular department.
• Competitive advantage – A business is more likely to flourish when it outperforms its
competition in terms of profitability, productivity, market share, and growth. Three
elements are often competitive advantage:
O Enterprise Scale – Enables the organization to quickly adapt with new or improved digital
services and applications as needed to compete. Optimizing performance and cost is
necessary for digital services and applications that operate at scale.
O Unique Selling Point (USP) – Educating consumers on why a company's brand or product is
superior to that of its rivals.
O Lack of Competition – Customers will support a company and buy their items with less
concern for product quality if they have established a solid reputation for themselves and
there are no other significant competitors in the same industry.
• Access to finance for start-up/ growth – This component's goal is to support an
organization's expansion through financial stability, enabling it to buy the tools and
resources it needs to hire staff. Businesses will be able to expand and grow thanks to these
resources and assets, which will help them succeed.
O Financial Resources – These would include things like liquid assets that are quickly
convertible into cash, making it a way that generates profits for the business.
O Bank Loans – One of the most popular types of financing for a start-up business is a bank
loan because it is typically a quick and simple way to get the capital required and is typically
supplied over a certain period of time.
• Positive perception that is communicated – having a positive perception that is proved on
social media, through broadcast, and through word of mouth would then improve the
business's appeal and perhaps cause customers to view it as a reliable company. Given the
popularity of social media in recent years, businesses should use it to establish a favorable
image of themselves. This will make it simpler for their content and advertisements to reach
the target audience. By doing all of this, the business might potentially make a large amount
of profit by attracting clients quickly.
• Product champions promote – A person who shows a disproportionate amount of interest
in seeing that a certain process or product is fully developed and promoted; this is
accomplished by monitoring the development of the final product and maintaining
alignment among all parties. The following five qualities are essential for a product
champion:
o Speak up for the customer – The product champion must ensure that consumer feedback
and satisfaction are considered when a new product is being developed. The product
champion would be the one to attempt and consider from the consumer's perspective on how
a product is at different phases since customer feedback wouldn't be used at every step.
o Know the market – This would require the product champion to have a thorough awareness
of market trends and rival companies. Understanding the market would enable product
champions to design distinctive strategies, such as the development stage and developing a
strategy to extend a product's life cycle, that cannot be simply duplicated by rivals and stand
out.

• Effective Customer Service – Both new and existing businesses should recognize the value
of providing excellent customer service since it serves as a direct line of communication
between them and their clients. Businesses can build a devoted customer base by offering
great customer service. This base may attract new clients and leave glowing evaluations,
both of which help a company's reputation.

Task 2
A. P2: Perform an audit of own entrepreneurial and IT skills,
describing any skills gaps.

From this audit result it shows that I have the potentials of an entrepreneur and it has
highlighted my skill gaps and what I would struggle with I was to become an entrepreneur and
start my own business, there are certain thing I can do to improve my chances of success.
Managerial skills—including communication and interpersonal skills, are essential for
entrepreneurs. As part of starting an enterprise and developing it, training for this skill must be
carried out either by one’s self or through a course.
A.M2: Perform a realistic audit of own skills, explaining how
any skills gaps could be overcome.
Interpreting Your Results (“You have some good potential! Choose your career path wisely.”),
from the entrepreneurial potential self-assessment, I have been able to identify where my weak
areas or skill gaps occur. From the above result I created an audit; I possess creativity and
innovative skills as well as being willing to take calculated risk, this means that I can think
outside the box and come up with unique ideas and thoughts as well as accessing the risks and
making decisions of them. I also possess strong work ethics and have a drive to succeed in all
and every task I am given. I am a goal driven person and I pride myself in my ability and
willingness to take on all challenges as well as overcome all obstacles in order to achieve them.
In this I have recognized my sill gaps as well like my ability to adapt to new situations and my
willingness to learn from previous mistakes. I am also not very comfortable with uncertainty
and changes or situations that I can’t control. I can learn to overcome my skill gaps by
recognizing that change is happening everyday for various reasons and not to ignore it.

Task 3
A. D1: Evaluate, using examples, the principles and
characteristics that lead to successful enterprises and your
own skills, justifying how any skills gaps could be effectively
overcome.
Being driven to achieve goals is a key characteristic of a successful entrepreneur. Any
challenges are overcome with a driven mindset, and it can encourage others around you to
succeed. Being more driven is all about focused determination. Know your goals and create a
path to accomplishing them.

Examples of Successful Enterprises

Google
Google is a well-known internet search engine used by many people all over the world. It is able
to provide billions of results to queries under a second making it a very useful platform. For
Google to thrive and continue achieving high expectations, the enterprise itself would need to
employ workers who fit their skills and capabilities.

• Workers would need to fit into the company cultures, and be able to work together with
other people to solve problems and come up with clear results. They would need to be
comfortable communication with their team and mangers every day.
 • Being at Google involves workers having to be able to manage challenging situation
down the line. This entails constant changes happening down the line that workers
would need to use their initiative to handle the problem.
• The ability to influence and aspire others with their leadership skill is a trait that Google
looks for in their workers. This means that you can step up and take on a problem that
coms up.
• Having problem-solving ability is a high attribute Google considers when looking to
employ people. This skill means that you would be able to deal with almost any situation
that occurs which is essential to succeed in any role.
• A very important department any enterprise need is digital skills as IT is very much an
essential in the modern era. Digital skills entail employing people with software
engineering experience in programming such as Python, JavaScript, C# and more.
• The ability to continually work through hardship is considered a better trait than having
high intelligent alone. Having qualities that allows for you to be decisive, serious plus
dedicated to your work can have a positive impact on the enterprise performance.

The Principles and Characteristics that lead to Enterprise

Planning
What is Enterprise Planning
Enterprise planning, which is typically utilized by large organizations, aids in the unification and
alignment of planning across all divisions so that both financial and operational planning may
be combined. Putting departmental data into a single source that management may use to
inform their decisions is a component of enterprise planning. The majority of business ideas fall
into two primary groups: traditional business plans and lean business models.

Traditional Business Plan

Conventional business plans are formal documents that outline the objectives of the company,
the strategies owners want to use to attain them, and the amount of time they anticipate being
required to do so. Additionally, it offers a thorough explanation of the proposed business and is
specifically created to introduce the company to potential investors by highlighting 4

Essential components:
• A firm would need to have outside sources deliver prototypes and resources to their
website to provide a product or service.
• Legal framework and operation - Businesses must adhere to rules and regulations while
launching new products and entering new markets. A framework is also required for
ongoing operations.
 • Capacity needs and resources needed - businesses need to make sure they have enough
storage to hold materials and goods. Resources that the company need, including
hardware, materials, gadgets, and more, should be recognized and gathered.
• Competitive environment and competitor analysis are important when entering a market
since they can help businesses potentially get more customers by being in a competitive
environment. Analyzing competitors is crucial because it enables businesses to better
understand them and their customers and to take advantage of that knowledge.

Lean Business Models

Lean business models maximize value while minimizing waste by streamlining operations
throughout the organization to provide customers with the best possible value. Businesses can
accomplish their objectives more smartly and sustainably as a result. The Business Model
Canvas and the Lean Canvas are two examples that show how an enterprise will accomplish its
goals:
• Strategy identifying objectives – These could be short- or long-term objectives that the
company would like to accomplish. This process could entail the company developing
strategies for reaching customers or developing a pricing structure and budget.
• Identification of product or service characteristics – Businesses would greatly benefit
from doing this because it would help them determine which markets to enter in order
to maximize consumer profit.
• Enterprise infrastructure – this primarily comprises network service, hardware, and
software within a business to improve overall performance. These characteristics would
improve a company's productivity and efficiency while also implementing network
security to provide a safe connection between devices at the office.
• Pricing structures and revenue streams – The price structure, commonly referred to as
the "Cost structure," entails a corporation keeping track of how much money it spends
on operations and which department bears the majority of the cost. The second factor is
revenue streams, which refer to the different avenues via which a company might
generate income from the selling of goods or services.

Example of Entrepreneurs
Google
Google’s first entrepreneur was Eric Schmidt who served from 2001 to 2011, where he
pioneered Google’s transformation from Silicon Valley start-up to global leader in technology.
Eric’s role was to oversee the company’s technical and business strategies. Due to his
management a desire to succeed, he was able to significantly boost Google’s infrastructure and
expanded its product while still implementing innovation.

Microsoft
Microsoft was founded in 1975 by Bill Gates alongside Paul Allen which is now a multinational
computer software technology corporation. Microsoft first product was Altair BASIC, also the
first personal computer which was popular in its time. Microsoft has known grown into the
company it is now and offers products in various departments, showing how Bill Gates
expanded and grew successful through employing rapid market growth by entering into new
markets and creating products that allowed them to gain a competitive advantage over other
companies.

Personal Entrepreneurial Attributes

I have similar abilities to those needed for an entrepreneur to succeed because I am one
myself. I am particularly skilled at forming teams with members that are diverse and can
complement one another's skills because I have this talent. This is crucial since I'll need to
surround myself with smart people who I can inspire and who can help me realize my vision.
Another quality I have is long-term focus, which is a crucial requirement.
This enables me to make sure that an activity runs smoothly from beginning to end while
continually searching for methods to increase its success. Also, it provides me the assurance
and inspiration to continually want to see my company or product develop and realize its full
potential. As an entrepreneur, I would need to make sure that I am prepared for any
possibilities or obstacles that may come my way. Innovation, which is the quality of having a
strategic mindset and the capacity to recognize opportunities for success, is a trait I possess
that can help me in this.

Recognizing and Overcoming Skill Gaps

When a business is first established, it is normal for it to have some flaws and restrictions,
especially in terms of skill sets because it is new, lacking in experience and still evolving. As the
company expands, the owner will need to be able to identify the areas where their company is
struggling or performing poorly so they can make the required changes to boost output. An
entrepreneur can find the skill gaps in his organization by regularly conducting interviews with
the employees, gauging their performance individually and as a team, and using exams or
questionnaires to gauge their present skill level. Focusing on future-proofing is another
strategy, and it basically entails considering employment responsibilities in your company that
might be automated, positions that are already there but are not necessary, and the talents
that are now in demand.
Entrepreneurs can address these skill gaps by assembling a competent team, reskilling,
upskilling, and receiving digital training, among other strategies. When it comes to assembling a
team, business owners should choose people who are skilled at the task at hand and can
motivate those around them. A team that isn't fully aware of what is expected of them or how
to work together will amplify the current lack of productivity and highlight their ability gaps.
Retraining a worker to take on a new role is known as reskilling.
 By doing this, it is hoped that the worker will be able to fully utilize their expertise in a field
more appropriate to their degree of expertise. Upskilling is teaching new skills to employees so
they can apply them in their current positions to increase productivity and produce outcomes.
This focus on the technology required in the workplace is relevant to digital training. This can
include increasing the Computers' internet speed, teaching staff members how to communicate
and exchange information on the network, and many other things.

Evaluation

Ultimately, I think that for a company to be successful, everyone involved in it would need to be
devoted to working hard and always maintain motivation. Gaining a competitive advantage
over other companies is one of the key goals for any firm that wants to succeed; to do this, they
must improve their reputation and win over more clients. Having a good entrepreneur is a
crucial component of any firm.
A great entrepreneur must possess a variety of qualities, including creativity, determination,
and a desire to advance. I could launch a successful business using the abilities I already have.
Building a work-driven organization that can consistently produce outcomes requires a variety
of skills, including teamwork, innovation, and long-term concentration. But the abilities I lack,
like adaptability and cheerfulness, can always be filled through a process of digital training and
upskilling techniques.

Bibliology

https://penpoin.com/enterprise/
https://penpoin.com/entrepreneur/
https://tech.adp.com/2022/01/31/the-five-key-elements-of-a-product-champion/
https://www.investopedia.com/terms/m/market-penetration
https://www.investopedia.com/terms/e/entrepreneur.asp
https://www.wolterskluwer.com/en-gb/solutions/cch-tagetik/glossary/enterprise-planning
https://mitsloan.mit.edu/ideas-made-to-matter/additive-manufacturing-explained
https://www.citrix.com/solutions/vdi-and-daas/what-is-cloud-computing.html
https://online.hbs.edu/blog/post/characteristics-of-successful-entrepreneurs
https://ceoworld.biz/2019/08/08/10-skills-you-need-to-have-to-get-job-at-google/
https://softwarekeep.com/blog/microsoft-office-skills-top-employer-lists-of-must-haves
https://softwarekeep.com/blog/microsoft-office-skills-top-employer-lists-of-must-haves