Enterprise in action: the journey of entrepreneurship - Essay Example

Comments (0) Cite this document
Summary
Enterprise in Action Introduction I would like to give my account on how the journey of entrepreneurship has been. This paper contains some of the challenges and advantages I have come across while undertaking this course. It also includes what I have learnt in general to become a successful entrepreneur…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.2% of users find it useful
Enterprise in action: the journey of entrepreneurship
Read TextPreview

Extract of sample
"Enterprise in action: the journey of entrepreneurship"

Download file to see previous pages It is important to have a good market and financial projection while planning or engaging in a business opportunity. A business plan can be a good tool to use while comparing or conduction financial projections. I have attached my business plan in the appendix and it reflects my intention and purpose of conducting in a Fitness business. Profit and loss accounts in addition to other financial documents and statistics are important as well while conducting financial projections. Part of my analysis and findings also reflects on the legal aspect of business involvement. Law affects business environment and conditions in certain ways. Laws can influence the rate of demand and supply of products and services thereby influencing prices of commodities in the market. As an entrepreneur, one must have effective skills on planning for a business opportunity. Writing a good business plan is necessary since the business plan can be used as a source of financing by private investors who may take keen interest on it. Marketing is also an important element, which is necessary for controlling and ensuring effective continuity of a business. An entrepreneur must have good knowledge on marketing. As an entrepreneur, I must be conversant with essentials of branding, packaging and all other concepts that are important in adding value to a product or a service in order to attract customers, maximize profits, and enjoy while commanding a wider market in an industry. Having built a foundation on a possible venture it is important that the business be implemented and evaluation done on its possible viability. Elements such as team building and maintaining a good human resource management are important while implementing a business opportunity. Feasibility of an Opportunity Feasibility entails setting the criteria upon which the business will be based on. Feasibility is a process that undergoes several stages. The first thing I did is setting of goals. I ensure that the goals set should were Specific, Measurable, Achievable, Realistic and Timely bound (SWOT). I also managed to conduct the PEST analysis that enabled me to understand the demographic factors while aiming to establish a business. The political and legal approach is very important as I aimed at establish a business organization. Through the PEST analysis, I managed to conduct the economic study and evaluated the standards of the type of customers I am expecting while planning to engage in the business. The social and cultural factors also influenced my decision and position of making a decision on where and how to establish my business organization. Using the PEST analysis I also managed to conduct a pilot study of the technological expertise of the population that is about to become my esteemed customers. This helped me in identifying means of transport in addition to marketing for my products. The objectives helped in making the decision on to continue with the project. I considered two sets of goals. One was the expected results that the business will achieve under certain duration of time while the second one was the minimum acceptable criteria that should exist if the current conditions indicate the goals failing. The next criteria then involved establishment of a criteria, which was useful in the judgment. This stage also affirmed my position about conducting the business. I ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Enterprise in action: the journey of entrepreneurship Essay”, n.d.)
Retrieved from https://studentshare.org/business/1404216-enterprise-in-action
(Enterprise in Action: The Journey of Entrepreneurship Essay)
https://studentshare.org/business/1404216-enterprise-in-action.
“Enterprise in Action: The Journey of Entrepreneurship Essay”, n.d. https://studentshare.org/business/1404216-enterprise-in-action.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Entrepreneurship in Action
...to apprehend different aspects of entrepreneurship. According to the BS2962 Entrepreneurship in Action module, the students finally set up their own enterprises after attaining knowledge on the required competences and skills needed for running and operating a business. In reference to the module, the aims of entrepreneurship education varies, though they all focus on enhancing entrepreneurial mindset, triggering entrepreneurial behavior, developing skills and competences required for entrepreneurship and preparing the student for his or her entrepreneurial endeavors. Nonetheless, one of the common objectives of the entrepreneurial...
10 Pages(2500 words)Essay
Enterprise in action
...? Enterprise in Action Table of Contents Introduction 3 2. Describing and processing the opportunity 3 2 Effectual approach 4 2 1 Identification of the problem 4 2.1.2 Effectual principles involved 5 2.1.3 Process of discovering the opportunity 6 2.1.4 Development of the opportunity 8 2.1.4.1. Management of Resources 8 2.1.4.2 Literature 9 2.1.4.2 Handling of barriers/ delays 12 2.1.4.3 Evaluation of achievements 13 3. Conclusion 14 References 15 1. Introduction The development of business plans is a challenging process, not only in terms of the skills and the resources required but also in terms of the risks involved. The specific process needs to be developed in a series of phases, aiming to limit the...
13 Pages(3250 words)Essay
Entrepreneurship and social enterprise
...?Entrepreneurship and social enterprise Introduction Entrepreneurship has been proven to be a key driver of economic growth. Employment and wealth created by the small businesses driven by entrepreneurs are contributing towards the economy of the nation. Many of the small businesses have turned to big businesses with time. Entrepreneurship is the propensity of a person to organize the business and run it in a profitable manner using leadership qualities, decision making and managerial skills (Okoroike, 2009; Shane, 2003). This paper focuses on a case study that deals with the growth and creation of Frieze in London, who aimed to become a global leader in the contemporary...
7 Pages(1750 words)Essay
Enterprise Culture and Entrepreneurship
...MG2070: ENTERPRISE CULTURE & ENTREPRENEURSHIP A case study on Charles Dunstone Registration Number: Word Count: 2757 words Abstract Entrepreneurship is important for any country as it has significant economic and social contributions. For instance, the creation of new enterprise is associated with job creation and the creation of other smaller businesses to supply the business. Despite the benefits of entrepreneurship, many new ventures still fail and this led to research on the factors that make some entrepreneurial ventures successful. This case study on Charles Dunstone and his venture, the CarPhone Warehouse has provided some insight into the origins of his entrepreneurship motivations. The research has... ...
12 Pages(3000 words)Case Study
Entrepreneurship and enterprise
...style of entrepreneurship can be referred to as expressive. She is ruled with her emotions and all of her actions are the result of her desire to help other people. Nevertheless she seems not to understand the business nuances. She will have a lot of troubles and obstacles on her way due to the lack of many vital skills: she will not be able to handle official written communication; she will need to gain some technical and business knowledge, and, moreover, she will need to find the way to get funding. Recently, it has become a very widespread concern that many motivated individuals try to be entrepreneurs, but do possess neither the essential skills nor the funding to be successful. For this...
4 Pages(1000 words)Essay
Entrepreneurship and Social Enterprise
...Entrepreneurship and enterprise Task: Introduction Frieze is a major publishing entity in Britain. This write up will assess the progress of the magazine. The assessment will entail identification of its major stages and the expansion strategies it seeks to undertake. The assessment will also relate developments in the entity to relevant theories. Some of the theories learnt include shareholder’s theory. The theory seeks to maximise the investment of the owners. This theory is relevant in this scenario since the partners are maximizing shareholders’ interest by ensuring the entity revenues increase. Increase in revenues will result in higher dividends to the shareholders hence, maximizing their benefits....
6 Pages(1500 words)Essay
Entrepreneurship and Enterprise Portfolio
...Entrepreneurship and Enterprise Portfolio An Overview and Analysis of Retailers in Metrocenter Entrepreneurship and Enterprise Portfolio An Overview and Analysis of Retailers in Metrocenter The following report presents an overview and analysis of the business entities operating in Metrocenter shopping center located in the UK. The report presents a brief overview of some of the retailers in the shopping center. Metrocenter is regarded as the Britain’s biggest shopping center as far as the retail space it occupies. The shopping center is situated in Gateshead which was inaugurated in the year 1986. There is a large variety of services and products of different brands and manufacturers available in Metrocenter. Considering... and Enterprise...
11 Pages(2750 words)Essay
Enterprise in action
...Enterprise in Action Effectual Logic vs Causal Logic Effectual logic is a decision making process which is widely employed by entrepreneurs. This kind of decision-making is mostly utilized when an entrepreneur is facing uncertainty. With effectual logic, one is capable of controlling the future but prediction not promised. Effectual logic focuses on intangible resources such as co-creation and relationships. Causal logic involves a variable depending on one another with one event consequently leading to the other. It is easy to predict and control the future due to interdependence from one variable to another with causal logic. Differences Effectual logic takes advantage of unexpected events in the...
1 Pages(250 words)Essay
ENTREPRENEURSHIP, ENTERPRISE, AND ETHICS
...Response- Carlos Slim Mexican Business Magnate I liked reading how Carlo was determined to be a top businessman, and fate was with him too. This paper makes the reader impressed by Carlo’s fate. However, the presentation of paper is disappointing: no header/footer, no title page, and no page number. Referencing is also incorrect. Response- Thomas Watson Jr.: The mainframe computers I loved how this paper describes the accomplishments of Watson Jr. through his detailed biography. I am impressed the way the paper describes Watson accomplishing his dreams. Overall impression of the paper is nice, but no page numbers are there. Works cited page is incorrect. Response- John Patterson: The Godfather of IBM I enjoyed reading about... Carlos Slim...
1 Pages(250 words)Essay
Entrepreneurship and Enterprise Creation
...Entrepreneurship and Enterprise Creation Next Ventures is a UK SAP recruitment agency which provides temporary and permanent recruitment solutions for many of the leading companies in the world. Founded in 2001 and headquartered in London, the company has other branches spread across the United Kingdom to ensure that the services reach as many people as possible (Bernaldez and Kim, 2014). It has 62 employees and becomes one of the best small companies for 2014 of UK (The Sunny Times, 2015). It has also provided a platform for young people to be more vocal, help communities and acquire vital life skills. This essay will critical evaluate the entrepreneur and enterprise activities to...
10 Pages(2500 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 Essay on topic Enterprise in action: the journey of entrepreneurship for FREE!
Contact Us