After researching what makes an entrepreneur, I found that entrepreneurship is not my cup of tea, although I may have the skill-set, traits and potential to become one. Peter F. Drucker defines ‘an entrepreneur’ the one who always searches for change, responds to it and exploits it as an opportunity. Entrepreneurship is tolerance, focus and dedication. I believe every human has some traits of Entrepreneurship. My nature doesn’t exhibit core entrepreneurial traits, and I have never been in an ideal situation in life where I could commit to an enterprise. To me, sacrificing my family-life was never worth engaging in entrepreneurial activities, as it has always been my mindset and priority.
The crucial points noted in my study about the entrepreneur, is that the concept of an entrepreneur is associated with three elements risk-bearing, organizing and innovating. He is creative, organises production, undertakes risks and manages socio-economic uncertainty effects of an ‘Enterprise.’ What secludes me from being an entrepreneur is me happened to suffer passive hard effects through our father’s entrepreneurship. His successful long journey as a General Manager (Intrapreneur, ‘Renovator’ an entrepreneur inside a larger corporation – more risk-taker, challenge taker with fewer liabilities comparatively) of a private company, motivated him to be a ‘Visionary’ Entrepreneur. A noticeable entrepreneur’s characteristics portrayed his nature: Long felt desire to run his own business; a college master’s degree; motivation and willingness to work on something that is important to him; to get job done better; high records of achievements/performance and better than the colleagues at the same level of career; It was high time for him not to be an entrepreneur.
My study reveals about him passing through the stage of entrepreneurial thoughts of social, economic and financial/capital school of thought at macro-level, earn more in short duration due to cultural displacements while at micro-level included prominent entrepreneurial traits and venture capitalists thoughts from employment experiences. His Start-Up firm was assisted financial support from the semi-government corporate bank. This ‘Gazelle’ unit was a small scale industry manufacturing a product called “Leaf-springs” assembled in four-wheel vehicles had few ‘skilled employees’ in production department. Although he had ample relevant job experience, got bargains in supply from previous employer, created sound supplier network, his Business Plan collapsed and failed to maintain just-in-time supplies, sales management and manage (liquid) cash flow in his business.
My personal analysis reports balancing key capital factors of success in business: Human, Psychological, Sociological and Financial through challenges in operations: evolving new business model; conceptual framework; unexpected establishment costs; decision-making and sustain financial hiccups rather being over-confident on my personal ability of creating, processing and selecting best business idea with correct input resources to establish the enterprise. My entrepreneurial capabilities and mindset fit to an Intrapreneurship that relieve from trading-off financial risks, stress, quality of life resulting enhance rest of the traits to develop and focus on goal-oriented activities resulting to constructive, earning productivity.
This essay has been submitted by a student. This is not an example of the work written by our professional essay writers. You can order our professional work here.