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.
Nobody downloaded yet

Enterprise entrepreneurial management - Assignment Example

Comments (0) Cite this document
Enterprise and Entrepreneurial Management ABC 11/25/2011 Table of Contents Table of Contents 2 Introduction 3 The business planning process – a critical appraisal 3 Characteristics of an entrepreneur 8 Introduction 8 Characteristics of an entrepreneur 8 The Trait Approach 9 Attitude theory 9 Desirable characteristics of entrepreneurs 10 Psychological traits and individual characteristics of entrepreneurs 11 Conclusion: 13 References: 14 Introduction A business plan is a written document which contains the goals and mission of the enterprise and discusses the possible strategies and operations to be taken to attain the final goal…
Download full paperFile format: .doc, available for editing
Polish This Essay97.5% of users find it useful
Enterprise entrepreneurial management
Read TextPreview

Extract of sample
"Enterprise entrepreneurial management"

Download file to see previous pages The business planning process – a critical appraisal The typical business planning process may be actually helpful as it aims to convey objectives and missions of the organization to its employees. But, there are several researchers who argue that the entrepreneur should rely on his experience and intuitions rather than waste time on the business planning process. This is because researchers argue that planning may not be successful in the uncertain conditions surrounding the formation of business (Delmar & Shane 2003). Moreover, each component of the business planning process has its own setbacks. Let us analyze each component and find out in what way a business plan can pose as a hindrance. Generating an idea The basic step of a business planning process is to generate an idea. A new venture has to first ascertain the product or the service which it will provide. Most organizations come out with new ideas for a product or a service depending on the data collected from potential and current customers. This kind of customer focused process is solely dependent on the information given by customers. However the response given by these people has limitation with reference to the environment and current experience. Hence there may be a discrepancy in the idea generated (Lilien et al. 2002). This may pose as a severe hindrance for the business plan. Moreover, there are other constraints like generation of funds for the new venture. Many business plans may never be formulated due to limitations in the form of competition, technology, lack of funds etc. Strategic goals and objectives The second step in a business plan is to formulate the strategies or tactics which are to be used in order to attain goals and objectives. Strategies may be short term and long term. These are plans which must be followed in order to attain final objectives. However, the very purpose of strategic planning is defeated in today’s changing environment. Due to the uncertainties in market conditions, entrepreneurs may be more successful if they go by their intuitions and experience, rather than going by previously formulated strategic objectives (Mintzberg 1994). Another problem which is ensued in setting objectives is that most plans are formulated outside the business planning process. Also entrepreneurs need to set realistic and achievable goals. It may be very easy to set strategic objectives but very difficult to implement these objectives to the middle and lower management. Most entrepreneurs do not give attention to the fact that the pre determined goals they are setting may be rigid, extremely rational, bureaucratic and dysfunctional at times. Hence, the formulation of potential strategic objectives may not hold true during the implementation process (Shrader, Taylor & Dalton 1984). This is one reason why the strategic objectives should be flexible and top executives need to change it depending on the changing market situations. Market research and analysis The third step in a business plan is to formulate a market plan which takes into account the market promotion and advertisement ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Enterprise entrepreneurial management Assignment”, n.d.)
Retrieved from https://studentshare.org/business/1393088-enterprise-entrepreneurial-management
(Enterprise Entrepreneurial Management Assignment)
“Enterprise Entrepreneurial Management Assignment”, n.d. https://studentshare.org/business/1393088-enterprise-entrepreneurial-management.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Enterprise and Entrepreneurial Management
From this paper, it is clear that one of the prime requisites for formulating a business plan is to generate an idea. Based on the idea, certain guidelines are formulated. Sometimes, the idea generation itself may be flawed. Before we venture to critically evaluate this concept, let us find out the difference between creativity and innovation.
12 Pages(3000 words)Assignment
Enterprise and Entrepreneurial Management
A business plan is a formal written statement clearly documenting the objectives and goals of an organization, the steps to attain goals and the reason why the goals are achievable. This document contains details about the type of business conducted, the strategies adopted for marketing and sales, the financial background of the organization and a projection of the profit and loss statement.
11 Pages(2750 words)Assignment
Enterprise and Entrepreneurial Management
In fact, the act of planning in itself is an exercise of foresight and exemplifies the planner’s recognition of the uncertain future and inevitable change. In business, this procedure with its significant incorporation of time is referred to as the business planning process.
11 Pages(2750 words)Assignment
Enterprise and Entrepreneurial Management
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 which the firm must follow, identifies the ways to attain goals and coherently emphasizes in operating tasks which are of pivotal importance (Gibb & Scott 1985).
12 Pages(3000 words)Assignment
Enterprise Strategy
The lessons learned from the interview with Prince Talat may well be applied by the entrepreneurs who are planning to be one. The study has outlined the ABC of an entrepreneur to strongly support whether one
11 Pages(2750 words)Assignment
Entrepreneurs are not offered favorable conditions or easy ways to success. In most cases, they succeed irrespective of the great setbacks and unfavorable conditions. This makes them stand out from the
12 Pages(3000 words)Assignment
ually fabulous when one considers that this man started off with practically nothing worthwhile and gradually fought his way up through severe bouts of dyslexia and a chronic shortage of capital. But he never lost faith in himself and had firm belief in his dreams. When he was
12 Pages(3000 words)Assignment
Enterprise Development, Culture and Management
Entrepreneurship can be referred to as the process of organising all the factors of production with an aim of accumulating wealth (McDaniel 2002). Different scholars however, have different
12 Pages(3000 words)Assignment
Entrepreneurial Management and Leadership - Individual Reflection
In the contemporary world, degrees of competition among commercial institutions have significantly increased. At this juncture, only good leadership skills among institutional leaders and efficient entrepreneurial management can
4 Pages(1000 words)Assignment
Let us find you another Assignment on topic Enterprise entrepreneurial management for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us