Enterprise and Entrepreneurial Management - Assignment Example

Comments (1) Cite this document
Summary
This essay tries to find out whether the business plan made is actually viable. While planning, most managers may come across certain constraints and obstacles which may hinder the planning process. Business planning may pose to be risky as planners are exposed to an element of risk…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.2% of users find it useful
Enterprise and Entrepreneurial Management
Read TextPreview

Extract of sample "Enterprise and Entrepreneurial Management"

Download file to see previous pages It is very important that linkages between strategic planning and performance are addressed. The business planning process should take into account the organizational performance. Also planning should not be rigid and formal. The business planning process should not be idealistically rational, rigid, bureaucratic and a dysfunctional exercise. The planning process should be drawn in such a way that management are actively involved in the actual decision making process. The strategic plans and objectives formulated should be flexible. Hence, there is an element of intuition in the business planning process. In order to attain strategic competence, it is very necessary that the intuitive judgment taken in the plan is successful (Hodgkinson et al. 2009). They may change in the course of time in order to meet the final goal. An ideal business plan consists of long term and short term goals which needs to be attained. These strategic objectives should be flexible and accordingly the strategic plans may change to meet requirements (Shrader et al. 1984). Market analysis and research – Most organizations draw up a marketing plan in order to attain the formal goal. Unfortunately, only few strive to develop a comprehensive plan which entails to research and analyze the product and service market before implementing it. Most organizations shy away from developing a comprehensive marketing plan as they may face a lot of hurdles which may be in the form of procedural, cognitive, research, cultural, informational, environmental and organizational aspects (Wilson & McDonald 1994). One of the procedural benefits of planning is that it helps in attaining realistic and attainable goals. However, in...
From this paper, it is clear that modern researchers assert that sole emphasis on entrepreneurial characteristics does not completely attribute to entrepreneurial success. Researchers are more interested in evaluating and researching on the thinking doing nexus of entrepreneurial behavior. Managers interact with the environment and make decisions with reference to success factors. Most of the times, entrepreneurs have to make decisions with limited or ambiguous data. Hence they have to possess the knowledge to assess, judge and decide depending on the creation of ventures, opportunities, and growth. Hence, action and thought are important components of the behavior of an entrepreneur and play an important role in determining successful decision making.
All in all, a successful entrepreneur have a diverse set of qualities which includes personality traits.According to me, an entrepreneur needs to manage certain important areas like risk management, planning for new ventures, networking, learning, financial management and human resource management. In order to handle all these aspects in a successful manager, the entrepreneur must take the right decision at the right time. Hence, in order to be a successful manager, an individual needs to have the skills, experience and personality traits to manage a venture successfully. This includes problem-solving and decision-making skills, strategic thinking, capacity to close deals successfully, time and project management, selling, negotiation, persuasion, and motivation. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Enterprise and Entrepreneurial Management Assignment”, n.d.)
Retrieved de https://studentshare.org/business/1392325-enterprise-and-entrepreneurial-management
(Enterprise and Entrepreneurial Management Assignment)
https://studentshare.org/business/1392325-enterprise-and-entrepreneurial-management.
“Enterprise and Entrepreneurial Management Assignment”, n.d. https://studentshare.org/business/1392325-enterprise-and-entrepreneurial-management.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
kl
klynch added comment 1 year ago
Student rated this paper as
I had an issue with a assignment types of works. All until I came across this website and this particular essay. Even though "Enterprise and Entrepreneurial Management" is far from my interests, the structure is so great that I use it all the time as an example for my own works.

CHECK THESE SAMPLES OF Enterprise and Entrepreneurial Management

Enterprise and Entrepreneurial Management

...?Enterprise and Entrepreneurial Management Introduction It is often said that the success of most ventures is the result of a proper planning. It is true in the case of a successful business venture as well. In the case of a successful enterprise, a good Business Plan is the primary step. It is the detailed report of how, when, where, who and why of a business. “In most cases, a business plan is created to explain and illustrate the vision you have for your business, and to persuade others to help you achieve that vision.” (Bellissim, 2003) Topfer (2011) states that starting a business without enough planning is like setting a journey without deciding on the destination....
10 Pages(2500 words)Essay

Enterprise and Entrepreneurial Management

...?#593947 Part I: The Essentiality of Enterprise Planning Introduction There has not been so much attention and interest accorded these buzzwords “entrepreneurship or entrepreneurial management” than the present globalized milieu where the world has become a free market for all. Globalization has placed even the smallest firms on equal footing with large multinational companies insofar as access to customers, suppliers and collaborators is concerned. Economic growth, both domestic and international, is fueled by these entrepreneurial enterprises (Etemad and Wrighty, 2003). Every year, there are about 100 million new businesses being opened worldwide (Mason, 2011). As of end of 2004, some 25.4 million businesses in the US have been... ...
12 Pages(3000 words)Essay

Enterprise and Entrepreneurial Management

...specific aspects of the business: extraversion -- management and marketing; openness to experience -- product or service development; agreeableness -- negotiation (price, location, etc.); conscientiousness -- product or service quality; and emotional stability -- management (i.e. decision-making and delegation). A high self-efficacy on the other hand supports these five entrepreneurial traits. The seminar had affirmed my two entrepreneurial traits, namely conscientiousness and openness to experience. Therefore, I am to improve or enhance three more traits: extraversion, agreeableness and emotional stability. Through the seminar, critique and evaluation, I am able to...
11 Pages(2750 words)Assignment

Enterprise and Entrepreneurial Management

..., dedicated to his activities, should be grateful and optimistic. A successful entrepreneur has to be socially outward, a leader by example and a risk taker. References Bandura, A. (1992) Exercise of personal agency through the self-efficacy mechanisms. In R. Schwarzer (Ed.), Self-efficacy: Thought control of action. Washington, DC: Hemisphere, 89-93 Bandura, A. (1994). Self-efficacy. In V. S. Ramachaudran (Ed.), Encyclopedia of human behaviour, 4. New York: Academic Press, pp. 71-81. Cassidy, T. and Lynn, R. (1989), “A multifactorial approach to achievement motivation, Journal of occupational Psychology, Vol 62, pp. 301-12 Eliasson E & Davidsson P (2003). Entrepreneurial management, corporate venturing,...
12 Pages(3000 words)Assignment

Enterprise and Entrepreneurial Management

...? Enterprise and Entrepreneurial Management ABC 12/2 Table of Contents Table of Contents 2 Introduction 3 Critical appraisal of the business planning process 3 Conclusion 7 Introduction 8 Characteristics of entrepreneurs 9 Theories of entrepreneurship 9 Intention models 11 Conclusion 13 References: 15 Introduction A business plan is a formal document which documents the key points that are needed for a business to function smoothly. It consists in formulating future goals and plans, resource allocation, prepare for opportunities and problems and emphasize on key aspects. To put it together, business planning is a process which is set out systematically and logically by the management of an organization, clearly directing the path... the...
12 Pages(3000 words)Assignment

Enterprise and Entrepreneurial Management

.... In order to effectively launch and sustain Yankee Clipper, the business must consider multiple dimensions of business strategy to maximise enterprise value and ensure more premium product demand. This business model has an extended product and service lifestyle, thus minimising risks of sales decline and the need to establish innovation in procurement. Komninos (2002) offers that it is very difficult for a business to recognise the cues when a product or service has reached its decline stage, that is, until revenues suddenly begin to drop and demand falters in key target markets. When a product or service reaches decline in the life cycle, inventory control and management becomes significantly complex...
12 Pages(3000 words)Essay

Enterprise and entrepreneurial management

...Enterprise and Entrepreneurial Management Introduction Laundry service industry encompasses several services that include dry cleaning services, clothing repair and alteration, laundry services and textile rental. In the current world and trends, the commercial laundry providers are the main profitable firms while the consumer is facing high charges from different sections (Mendelson, 2005). Business plans earlier considered a corporate exercise, but currently they consist of the core financial support and staff recruitment. Competent business plans give an exclusive explanation on the how the business operates and mainly used in investor attraction. The competition in business industry...
12 Pages(3000 words)Essay

Enterprise and Entrepreneurial Management

...this buying power. 7. Human resources The flair and expertise of employees will be absolutely critical to making Moovers and Shakers have a more accepted and appreciated brand over that of competitors. The sole trader must take on the role of human resources manager, utilising a transformational leadership model to gain support and commitment from recruited employees. This model is illustrated by setting a shared mission and vision, role modelling desired behaviours, and opening lines of communication as a teacher and mentor (Fairholm 2009). It is absolutely critical that employees act as positive representatives of the brand philosophy, which in this case is innovation in food presentation. The business will be...
12 Pages(3000 words)Essay

Enterprise and Entrepreneurial Management

...?Portfolio (Part A) Introduction A business plan is where an enterprise or venture should start. Just like any types of materials for planning activity, a business plan is a formal statement of every detailed aspect of a business of an enterprise or venture that is about to start or be revised (Cross and Richey, 1998). Thus, a business plan must substantially include idea generation, strategic objectives, market analysis and research, understanding the competition, understanding of financial numbers and projections, and competitive strategy and scenario analysis. All of these are considered important components of a business plan in order to cover everything and be categorized accordingly. It is important...
11 Pages(2750 words)Essay

Enterprise and Entrepreneurial Management

...start up business, rent- £38,325.00 Soho is considered to be Londons major entertainment districts, with numerous theatres, restaurants and bars within the immediate vicinity. Management Synopsis Organic Vows will be a small business initially and the employee costs will be segregated among cashiers, dishwasher/kitchen aid, chefs ,line cooks and bussers.All the business affairs will be handled by the owner while an assistant manager may be needed for taking care of the business operations when the manager or owner is not present. Hourly Payment 1st Year/month 2nd Year/month 3rd Year/month 1st year 2nd Year 3rd Year Proprietor...
12 Pages(3000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Enterprise and Entrepreneurial Management for FREE!

Contact Us