Question

do a review of a recent news article on an entrepreneurial firm, analyzing what’s in the article – be it a young venture’s current situation, or its connection to a current entrepreneurship trend – in light of some entrepreneurship concept(s), provide in your paper, details of its business model.

minimum 1000 words

Answer 1

Young businesses and startups like OYO Rooms have aggressively expanded into India and China and proliferated into emerging economies through low cost entrepreneurship model by Ritesh Agarwal the Founder.

His concept of providing couple friendly, low cost, single to double occupancy, high amenities, accessible and affordable hotels has struck chord with wider customers segment and with high tourism the revenues have grown at staggering rate.

The market capitalization and overall valuation has crosses largest brands like Taj Hotel Groups within span of 5years as the CAGR has been almost 200 percent. This definitely means business model is sustainable and has great takeaways.

The ideology behind running this business is successful teamwork and cross functional integration across geographical regions and domains to grow at such magnanimous rate.

The ideology is explained below in lucid terms as :

Any successful business is run by teamwork as corporate management is like playing football where all players cojointly strive forward for common goal.

Starting with HR which forms crux of employment and widening and talent acquisition, employee engagement, talent spotting, reserving and growing talent, promoting talent, corporate governance, ethical management and industrial labor relations has the potential to build strongest base for organisations.

Financial team comprises of risk management and investment banking, accounting, payments, and legal and audit requirements.

Marketing teams handle sales, marketing, public relations, digital marketing, analytics, strategy development.

Operations team make up for supply chain management, logistics, purchase, procurement, maintenance, supervision and engineering.

IT forms technical and analytical support and cyber security rusk support.

Thus we see all teams are intee related and it is cross functionality that drives success. Eliminate any one function and whole organisation gets paralysed. If HR doesn't work the administration collapses. If Finance doesn't work out no marketing expenditure can be taken ahead. If Operations doesnt work there is no production nor sales.
If IT doesnt work there is no marketing and no payment mechanism.

Hence all functions are extremely important and independent. However in overall opinion Hr forms the base because HR function recruits people who are biggest stakeholders and any degradation or malfunctioning in HR can destabilise any organisation.

The Key Vision to Masisve Growth : Human Resources management

Staffing global organisation requires methods like Social Media Hiring, Referral Hiring, and Thid Party Consulting based Hiring which gives quality candidates.

Social media hiring is best for cultural fitments however can be skeptical which is disadvantage as it doesnt give an holistic view.

Referral hiring is another effective way because of trust and Recommendations shown. However it can be disadvantageous if referrences are unchecked and unverified.

Consulting based hiring gives top level candidates based on requirements and expectations. However disadvantages being cost of hiring is very high.

Organisinations must check for quality and skills as well as qualification like global experience, overall countries travelled, cross border cross domain management skills, Leadership skills, International relations management, Team building.

Predeparting on boarding opportunity is very critical for global success and hence candidates must b egiven training in global countries and should be given sufficient time to adapt to its culture and way of doing business and then should be expatriated. Here entire family expenses are taken care of and sufficient financial and administrative support is offered for ease if transition to new nation.

Ongoung training will incorporate learning through peers, transition counselling through past expatriates, reverse mentoring and case studies and collaborative approach like on job training with senuor leaders. Here expatriates are offered regular support to understand working culture, management style and organisation structure and systems.

Repatriation policies like attractive remuneration and total rewards package, career development plan for next 5 years, family health and insurance, children schooling and education support, long term stock options and bonsues, flatter hierarchy.

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