Entrepreneurial Practice Assignment Sample
Introduction
Task 1: Strategic Report
a. Strategic analysis of the challenges
PESTLE analysis
| Political factors | ● Government policies and regulations have major impacts on the business of Highways England as the company operates under the jurisdiction of the United Kingdom government. Due to this reason, the majority of its activities are influenced by transportation and infrastructure policies set by the government.
● Budget and funding allocation of disorganization is subject to political decisions and changes in government priorities.
● Projects of this company can involve collaboration with the private sector and companies and political support which can have significant impacts on the organisation’s initiatives. ● Covid-19 regulations have made it difficult for the company to operate its business activities across borders efficiently due to travel restrictions and safety regulations. |
| Economic factors | ● Economic growth and performance of the economy of the UK can have a major impact on the budget, funding availability and investment in infrastructure projects of Highways England.
● Increasing fluctuations in inflation rates and the cost of construction materials can have adverse impacts on the overall project costs of this company (Balfour & Ratnieks, 2022). ● Government spending on transportation projects and infrastructure can also significantly influence the overall activities of this company. |
| Social factors | ● Public perception and safety need to be considered by the company by considering public safety concerns and addressing negative perceptions regarding road conditions and traffic management.
● Major shifts in population distribution and migration of patterns and urbanization also have a significant influence on traffic demands and road usage. ● The ability of an organisation to engage the local community, Government and other stay holders like suppliers, employees and others can impact the overall success of its projects like motorways. |
| Technological factors | ● Rapid technological development such as the introduction of autonomous vehicles, and intelligent Transportation systems can majorly influence the long-term planning and infrastructure needs of Highways England.
● It is important for the organisation to adapt its infrastructure for supporting emerging Technology like 5G communication, connected vehicles and others (Ren et al. 2021). |
| Legal factors | ● Projects of the organisation can involve various legal agreements and contracts with suppliers and other take holders which need to be managed effectively.
● Highways England is required to comply with environmental laws and regulations related to pollution, carbon emission and conservation. For instance, during the Covid-19 the Organisation was required to develop effective strategies to ensure air quality while developing and managing their traffic and roadways services. |
| Environmental factors | ● Increasing concern regarding environmental sustainability and climate change needs to be considered while developing infrastructure projects to reduce the carbon footprints of the company.
● It is also important for the company to be prepared for potential disruptions that can be caused due to extreme weather conditions and climate-related risks. |
Table 1: PESTLE analysis
(Source: Li et al. 2021)
From the strategic analysis of the current condition of the company, various challenges have been identified. For instance, the safety and health concerns of people involved in this company and its stakeholders like employees, customers and others with the rising issues like the global pandemic need to be addressed properly. It is also important for the company to implement significant tools and technologies in its operation and process to ensure effective maintenance of air quality. However, considering the current situation of this organization, its first focus needs to be developing an effective system for managing the dramatic growth of traffic that causes various challenges for the company.
b. Critical evaluation of the leadership model of the organization and its impacts on employees
Leaders of Highways England follow a leadership style based on the
The “Leadership Plain and Simple” model was suggested in the book written by Steve Redcliffe who was a leadership expert and coach. This book offers a practical approach to leadership that focuses on 4 key principles which are essential for effective leadership such as, ” future, engage, deliver and develop” (FEDD MODEL). According to this model, the principle of the future emphasizes the importance of creating a clear and inspiring vision for the future. It encourages leaders to articulate a compelling vision which can motivate and guide their team towards shared goals and aspirations. The principle of Engage focuses on building strong relationships and fostering open communication with the team members (Mantalovas et al. 2020). It enables leaders to actively listen to their team and involve them in the decision-making process to create a positive and inclusive working environment.
The principle of delivering stands for leaders who need to focus on achieving organisation results and delivering on their promises. This principle emphasizes the importance of setting clear objectives and creating proper action plans and also holding individuals accountable for their performance. The last principle of this model suggests the significance of developing and empowering team members. It represents that effective leaders invest in the growth and development of their people and also provide significant opportunities for learning and career advancement. According to this model, it is represented that leadership is not just about a fixed state of traits and characteristics. It is rather a set of learnable skills which can be developed over time with consistent practices and self-awareness (Shukla et al. 2019). This model is well regarded for its practicality and simplicity as it offers a valuable resource for both experienced and aspiring leaders and helps them to enhance their leadership capabilities to make a positive impact on their teams and organizations.
Impacts
This model of leadership is considered to be important as it develops clarity of direction and insurance that employees have a clear and inspiring vision for the future of their organisations. This clarity of deduction can help employees to understand the rules within their organisations and different ways of their contribution which can be aligned with the overall goal of their organisation. It also helps in increasing the motivation and commitment of employees. Developing the principle of this model can encourage leaders to invest in the growth and development of their employees. This can enable them to focus on both the personal and professional development of employees which can empower them and enhance their skills ultimately leading to their improved job satisfaction (Wang et al. 2019). The Engagement principle of this model enhances communication in collaboration by promoting open communication and strong relationships between leaders and employees. This enhances the overall performance and productivity of individual employees as they feel heard and valued which fosters a culture of trust and collaboration leading to better teamwork and problem-solving.
This model also enhances the accountability and performance of an organisation by emphasizing setting clear objectives and holding individuals accountable for their performance. Focuses on accountability which can drive employees to take ownership of their responsibility and strive for excellence (Renne et al. 2020). Significant advantages of this leadership model, it may have some adverse impacts and the overall outputs of business as it can be time and resource-consuming. This model requires time, effort and resources from leaders due to which an organisation can face challenges in allocating sufficient resources and managing their time effectively to apply all the principles consistently.
c. Three recommendations with justification to improve organization performance
Enhancing infrastructure maintenance and upkeep
The primary responsibility of this company is to manage and maintain the strategic road network of England. Improving the overall maintenance and upkeep of infrastructure can help the company to lead to better road conditions and reduced congestion. It can also enhance safety for road users. Effective regular maintenance of infrastructure can prevent costly repairs and also ensures smooth traffic flow which can ultimately contribute to improved organisation performance and increased customer satisfaction.
Implementing Technology solutions for traffic management
Technology such as intelligence transportation systems, traffic monitoring and real-time data analysis can have major improvements in traffic management and incident responses. Integration of effective technology solutions into Highways England operations can help the company to lead to better incident detection, proper traffic flow management and improved communication with road users (Kavanaugh, 2020). This can eventually enhance the overall efficiency and reduce disruptions as well as demonstrate the organisation’s commitment to adopting innovative practices and approaches which can have positive impacts on the performance and public perception.
Prioritizing stakeholder engagement and customer services
Highways England offers its production services to various stakeholders that include the local community, businesses, government and Road users. Emphasizing effective stakeholder engagement and actively acquiring feedback from stakeholders can help the organisation to understand their needs and expectations in a better way. Improved communication through implementation of proper leadership and communication strategies can improve the responsiveness of stakeholders which will result in a stronger alignment of services with user requirements and can enhance better decision-making and increased public trust (Li et al. 2021). Improving customer services along with focusing on meeting stakeholders’ needs can lead the company to a higher satisfaction level and also boost the overall repetition of Highways England and help this organisation to become more customer-centric.
Task 2A: Briefing note
a. Critical appraisal of phases in entrepreneurial practice
Considering the current needs of this organisation, the development of a mobile application and smart solution for traffic management has been proposed to the organisation. Effective development of the mobile application and smart solution for traffic management requires establishing a comprehensive and executed entrepreneurial practice. Critical appraisal of different phases involved in this process is as discussed below:
Idea phase: During this phase, as an entrepreneur, it is important to conceptualize a smart solution and mobile app for traffic management. A critical appraisal at this stage involves the evaluation of the uniqueness and feasibility of the ideas (Gemeda & Lee, 2020). At this stage, it is important for the entrepreneur to consider various questions such as: Is the proposed solution innovative and different from the existing traffic management system? If there are any potential technological barriers or challenges in implementing the idea? Are there any regulatory hurdles to overcome? Is there a significant market demand for such a solution and is the target audience well defined?
Market research and validation: After completing the idea face the entrepreneurs need to conduct market research in order to validate the idea and acquire significant information regarding potential customers and their needs and preferences. Critical appraisal at this stage includes effective identification of potential competitors and analysing their strengths and weaknesses, obtaining proper feedback from potential users to understand the pain points and requirements. It also involves an effective assessment of market size, growth potential and expected demands for the smart solution in mobile applications (Voegtlin et al. 2020). Proper identification of any potential barriers to market entry or adoption of the solution is also required to be evaluated in this stage.
Product development: During this stage of product development it is important for the entrepreneur to focus on creating a minimum viable product which can be tested and refined based on feedback obtained from users. Critical appraisal included in this phase is the evaluation of functionality and features of the minimum able product to ensure that they align with the needs of identified users. Entrepreneurs are also required to access the scalability and robustness of the technology to handle the increased traffic and user demands (Busari et al. 2019). An effective review of the usual interface and experience is also important to ensure that the provided solution is intuitive and user-friendly. Entrepreneurs are also required to consider potential integration with existing traffic management systems and technologies.
After successful completion of the product development phase testing and iteration is required in which the MVP is tested with a Limited potential user base to obtain relevant feedback and identify areas of improvement. Critical appraisal included in this phase is the evaluation of the effective place of the application in addressing the identified traffic management challenges and proper identification of any type of technical issues that needs to be addressed. It also requires entrepreneurs to analyze user feedback in order to determine if the app meets user expectations and needs and assess the scalability of the solution for handling a larger user base and increasing traffic data.
Launching and delivery is the final phase of this product development involves launching the mobile application and smart solution to a broader market. In this phase, several critical appraisals involve a proper review of marketing and promotion strategies, evaluation of the responses to the app launch and monitoring of the rate of user adoption. It also involves the evaluation of customer support and assessing the scalability of infrastructure.
b. Critical analysis of strategies for managing risks
The development of smart traffic solutions involves various risks that entrepreneurs need to address to ensure the successful development and implementation of the project. Some of the major risks involved along with their strategic solutions are discussed below:
- Technology risks: The development of innovative mobile applications in smart solutions requires proper working with cutting-edge technology that involves various risks like regularly updating and maintaining applications to address security vulnerability and compatibility issues. It also invoices creating a contingency plan for identifying potential Technology challenges and ensuring skills development teams are in place. Conducting a theory search for choosing the most suitable and reliable technology for developing the app is also important.
- Data security and privacy risks: Mobile applications and smart solutions for managing traffic require entrepreneurs to deal with sensitive data such as personal details and location information which involves privacy risks. It is important for entrepreneurs to implement robust encryption protocols and also access control to safeguard user data (Milhem, Muda & Ahmed, 2019). Proper compliance with relevant data protection regulations and acquiring user consent for data collection is also important. Entrepreneurs are also required to conduct regular security and vulnerability assessments to identify and fix potential challenges involved in data security.
- Financial risks: The development of mobile applications and smart solutions can be expensive and there is no guarantee of immediate returns which can raise significant concerns. This requires entrepreneurs to create a detailed budget and financial plan by considering both development and operational costs. Exploring potential funding sources like venture capital, grants and partnership is also important. Entrepreneurs are also required to set realistic revenue projections and manage their cash flow effectively.
c. Critical appraisal of entrepreneurial traits for strategic positioning of the proposed business venture
Some of the major trades and characteristics required for the strategic positioning of the product proposed are discussed below:
- Strategic thinking and vision: Achieving a clear vision and ability to think strategically is critical for positioning mobile applications and smart solutions for traffic management effectively. The entrepreneur needs to envision the future of traffic management and design the solution by aligning it with the long-term trends and needs of the industry (Oh & Wang, 2020).
- Creativity and innovation: The entrepreneur needs to possess a strong sense of creativity and innovation for developing unique and cutting-edge solutions for traffic management. Strategic positioning of this product requires offering features which are different from existing acts and solutions and also providing a competitive advantage in the market.
- Adaptability and agility: The technology landscape of the traffic management domain is evolving continuously. Therefore it is important for entrepreneurs to be adaptable and agile in order to respond to changing market conditions and user preferences along with emerging technologies. Being quick to adapt to new technology can enable the entrepreneur to maintain a strong strategic positioning.
- Result-oriented and performance-driven: Strategic positioning requires entrepreneurs to adopt a result-oriented approach. To achieve this the entrepreneurs need to set clear performance metrics and measure the impacts of solutions on traffic management (Kaluarachchi, 2021). Being performance-driven can help them to acquire continuous improvement and stay ahead of their competitors.
Task 2B: Executive Summary
Highways England is one of the renowned players developing Roadways, highways and motorways across the UK. The company is focused on delivering cutting-edge facilities to its customers. However, due to increasing technology adaptation in businesses and changing demands of customers have increased issues regarding heavy traffic management. In order to deal with this challenge the company requires a proper solution based on modern technologies that can help an organisation to optimize its traffic management process. To achieve these objectives a mobile application or smart solution for traffic management has been proposed to this company. Integration of a mobile application or smart solution for traffic management can offer various benefits for the roadway construction company (Shrestha, Bajracharya & Kim, 2021). For instance, it can help the company in improving traffic management as the solution can help the company to effectively manage traffic flow and mitigate congestion during construction projects. It can also provide real-time traffic updates and intelligent routing which can divert vehicles away from construction zones and also reduce delays and improve overall road safety.
This solution can also result in enhanced communication as the app can facilitate better communication between the construction company and Road users as well as relevant government authorities. Users of this application can receive notification regularly about construction schedules and road closures as well as alternative routes which can ensure that they are informed and plan their journey accordingly. This can also help the company to increase safety and also reduce accidents by providing real-time updates on construction areas and potential hazards to both construction workers and road users. Involvement of the solution in the company can also improve positive public perception by developing effective construction for the company’s reputation (Adeani, Febriani & Syafryadin, 2020). Developing a well-designed and helpful application can demonstrate the commitment of the company to its Customer services and safety which can foster a positive public perception.
Integration of modern technology-based smart solutions can help the company address regulatory and legal risks for traffic management by complying with various regulatory requirements. This can help the company to stay informed about relevant laws and regulations related to data privacy, application development and transportation and work with legal experts to ensure proper compliments of all the applicable laws. This can also prepare the company for potential legal challenges and also have appropriate insurance coverage in place (Sekarwinahyu et al. 2019). It will help to market and adopt risks by conducting extensive marketing research to identify potential users and their needs. The development of a clear marketing strategy can help the company to create awareness and drive significant adoption of the solution.
Task 3: Personal and Professional Account
Gibbs’s reflective cycle is utilized to develop a structured approach for reflection of personnel and professional experiences which is described through 6 stages such as description, feeling, evaluation, analysis, conclusion and action plan.
- Description: I have proposed a smart solution for traffic management as a part of my project which aims to provide real-time traffic updates, intelligent and construction zone alerts, improve road safety and also minimize traffic congestion during construction projects of Highways England.
- Feelings: During the initial stage of the project, I felt excited and motivated to work on such an innovative project. However, as I encounter several technical challenges and time constraints I also experienced various moments of frustration and uncertainty (Markkanen et al. 2020).
- Evaluation: Upon significant evaluation of the project, I realise the importance of my contribution to the company. My technical skills and problem-solving abilities were critical in developing effective features of the smart solution for traffic management. Additionally, working in a team setting has also enhanced my collaboration and communication skills.
- Analysis: Throughout the development process, I have acquired a deeper understanding of traffic management and have also understood the importance of efficient solutions to minimize disruptions for road users. I also recognised the value of teamwork and a diverse perspective which can lead to better outcomes.
- Conclusion: The development of mass solutions for traffic management was a valuable learning experience for me as it has allowed me to apply my technical skills and dear world contest and has also exposed me to the challenges of creating user-centric solutions (Hashim et al. 2023).
- Action Plan: Looking forward, I am focusing to continue developing my technical skills and stay updated on the latest trends in smart solutions and traffic management. I will look forward to acquiring relevant opportunities to work on more innovative projects which can align with my interest and career aspirations (Roedema et al. 2022). Moreover, I am also planning to collaborate with my colleagues and industry professionals to expand my knowledge and network in this field.
Considering the overdose experience of developing the smart solution for traffic management has been transformative for both personal and professional development. It has reinforced my passion for technology and its potential for creating meaningful impact in various industries. This project has also highlighted the significance of continuous learning and growth as I focus on becoming a more proficient and effective professional in the field of innovation and technology in future.
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