Convergence of Local Enterprises with Large Corporations: Bridging Industry 4.0 Functions on Broader Business Canvass
This chapter analyzes socio-political determinants of micro, small, and medium enterprises and critically examines the micro-and macro-economic factors that would help managers develop competitive business projects within the existing business environment in a given marketplace. It is argued that organizational learning among local-global companies enhances executive competencies, broadens project management perspectives, and helps everyone involved in the innovative business projects in planning and implementing projects in a complex and nonlinear business environment. The attributes of various decision drivers in reference to changing organizational cultures in local-global enterprises have been discussed in this chapter. The chapter discusses basic entrepreneurial attributes required to develop and implement innovative business projects and guides the process of managing resources and project cost rationally. It is a precondition for building and implementing innovative business projects to create a right and sustainable market to absorb the thrust of innovative products. This chapter discusses ways for market creation and developing leadership. In addition, this chapter discusses several ways to identify and define qualitative attributes of a good project and qualitative processes to carry out the innovative business projects successfully to gain competitive advantage in the marketplace.
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