Nobody downloaded yet

Reflective Learning Report: Developing New Venture for an Entrepreneur - Essay Example

Comments (0) Cite this document
Summary
Name: University Course: Instructor: Date: Executive Summary The paper seeks to reflect upon the fundamental issues which became an important milestone in this module. Indeed, the module has inundated me with much information on the subject of entrepreneurship…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.3% of users find it useful
Reflective Learning Report: Developing New Venture for an Entrepreneur
Read TextPreview

Extract of sample
"Reflective Learning Report: Developing New Venture for an Entrepreneur"

Download file to see previous pages As such, it is fundamental to realize the imperative nature of entrepreneurship and how the scientific process can be used to enhance its efficiency. The module has therefore illuminated me with sufficient knowledge that can make me a better entrepreneur. It is further seen that entrepreneurship is certainly inundated with several challenges and the entrepreneur must always be prepared for such situations. In a way, the module is an important step to anyone who aspires to be a better entrepreneur. Reflective Learning Report Introduction Indeed, the module has been very illuminative and has sufficiently inundated me with much knowledge on the imperatives of entrepreneurship and how to succeed as an entrepreneur. Time and again, it is assumed that entrepreneurship is a field which anybody can venture without much knowledge on the workings of business. However, it should be realized that a difference certainly exists between entrepreneurship and success in entrepreneurship. Not all new ventures will always succeed. In most cases, people fail to succeed because of certain little mistakes and inconsistencies conducted in the course of the practice. In this regard, challenges emerge and the venture might be doomed. In this regard, the module has greatly furnished me with a lot of important knowledge on how to improve myself as an entrepreneur and to apply the skills learnt in real practice. While challenges are always part and parcel of any venture, a well-equipped entrepreneur will always be prepared and in a better position to address the challenges. Effectuation entrepreneurship Effectuation entrepreneurship is one of the areas which have illuminated me with very critical information on how a business manager should address different situations facing the business. It is imperative to note that business operations will always experience varying situations which require the entrepreneurs to make timely and relevant decisions. For instance, when a new competitor has ventured into the market and the prospects of the business are threatened, the entrepreneur should make very critical decisions that can ensure the survival of the business despite the looming challenges (Sarasvathy, 2008). Effectuation is essentially a set of principles used in decision making by expert entrepreneurs which dictate that proper decisions have to be employed in situations of uncertainty. It is basically contrasted to causality which involves making decision based on prediction. It is imperative for the entrepreneur to build much known capabilities for possible ends and ensure success for the venture. As an entrepreneur, I would greatly apply the principles of effectuation in making decisions within my business. It should be realized that the success of any business largely depends upon the quality of the decisions. In this regard, the entrepreneur should be in the position to make very proper decisions which will ensure success. Effectual thinking is basically concerned with imagining possible new ends and seeking ways and means of reaching such ends (Bassi, 2011). It is basically a scientific process which is used to achieve goals in the organization. The focus in this regard is the fact that entrepreneurs must always have a sense of purpose in the organization. Entrepreneurship should not simply be a matter of managing the business and hoping for the best. Rather, it is a question of setting high goals and seeking the best strategies of realizing the goals ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Reflective Learning Report: Developing New Venture for an Entrepreneur Essay”, n.d.)
Retrieved from https://studentshare.org/business/1404521-reflective-learning-report-developing-new-venture
(Reflective Learning Report: Developing New Venture for an Entrepreneur Essay)
https://studentshare.org/business/1404521-reflective-learning-report-developing-new-venture.
“Reflective Learning Report: Developing New Venture for an Entrepreneur Essay”, n.d. https://studentshare.org/business/1404521-reflective-learning-report-developing-new-venture.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Researching and Developing a New Business Venture
...?Researching and Developing a New Business Venture Executive Summary The paper focuses on the feasibility assessment for setting up an Afro-Caribbean restaurant in Allerton, a suburb in Liverpool, United Kingdom. The paper discusses the micro-level as well as the macro-level assessment of the market for the restaurant. The paper also focuses on the micro level evaluation of the restaurant industry, with the help of Porter’s five forces model. Subsequently, the paper accentuates on the micro-level restaurant industry evaluation, with due consideration to the economic viability of the restaurant business model. The paper further confers the mission and the aspiration of the team. Finally, the paper concludes with the discussion... of the...
15 Pages(3750 words)Essay
Developing New Venture for an Entrepreneur
...?Running Head: NEW VENTURE FOR AN ENTREPRENEUR Reflective Learning Essay: Developing New Venture for an Entrepreneur Collage Subject Table of Contents Exexcutive Summary Error: Reference source not found Introduction 4 REPORT 5 Individual 1 Error: Reference source not found Individual 2 Error: Reference source not found Finding An Entrepreneur Error: Reference source not found Implementation: 7 Evaluation 8 Theoretical Analysis 8 Individual 3 9 Individual 4 10 Individual 5 Error: Reference source not found CONCLUSION Error: Reference source not found...
13 Pages(3250 words)Essay
Reflective Report: Developing New Venture for an Entrepreneur
...? Reflective Report: Developing New Venture for an Entrepreneur Executive summary The essay above is organized into main important units. The first one is Introduction. This is where I explain to the new entrepreneur the reason for my writing down this reflective report. The new entrepreneur might not really know the exact importance of having information from a past experienced entrepreneur; this part explains the logic towards it. The second section is the background information on entrepreneurship in the UK. It is a matter of importance for the new entrepreneur to know where the UK has come from in terms of entrepreneurial development and where it is heading to. It helps them have a dream that will assist them work hard to try... ...
13 Pages(3250 words)Essay
Reflective learning report
...? Reflective Learning Report Workplace experience at Vital Supermarket as an accountant Working as the senior accountant of Vital Supermarket was a learning experience for me. Though I experienced a lot of different challenges, I ended up learning a lot from them. Since Vital Supermarket is a large retail store which serves a multitude of customers, the accounts involve large figures too. Therefore, a lot of keenness and accuracy was required to ensure that mistakes were limited. As the senior accountant, I ensured that all the accounting statements were well drawn and in accordance with the figures from the sales and purchases department. I also ensured...
6 Pages(1500 words)Essay
Starting and Developing a New Venture
...?Entrepreneurs’ traits al affiliation Entrepreneurship is the process through which the entrepreneur recognizes a market niche and fills it by bringing together the factors of production. The resources are scarce, and entrepreneurs must allocate them in a manner that gives them the highest returns. In entrepreneurship, there are many challenges, and it is the ability of the entrepreneur to cope in these circumstances that makes them great. The two great entrepreneurs Stelios Haji Ioannou (Easy jet) and Richard Branson (Virgin Airlines) have been in the business front for a very long period. They have endured a lot and gone through many hurdles but their...
8 Pages(2000 words)Essay
Starting and Developing a New Venture
... held one of his serving crew responsible for the accident. On the other hand Richard Branson ventured into business at a tender age of 16. Though Branson had dyslexia and poor academic performance as a student, he later discovered his ability to connect with others (Roddick, 2007). Common entrepreneurial traits of Haji and Branson are discussed below. PROPENSITY TO TAKE RISK Most researchers suggest that efficient and effective entrepreneurs are restrained or reasonable risk takers. Most entrepreneurs prefer a neither calculated move when it comes to risk and are neither risk averse, neutral nor risk loving. However they take risks head on. In some scenarios they will accept a bargain which has an uncertain payoff. In most cases... and...
8 Pages(2000 words)Essay
Starting and Developing a New Venture
...business are enlightened accordingly to increase production. Entrepreneurs are trained time and again as new ways of production emerge. The government may be of assistance in ensuring that the small business enterprises are decentralized through subsidies for entrepreneurs who locate their industries in certain areas within the country, in a bid to balance national development (Burns, 2005: 26-32). Product promotion in small businesses can be approached in numerous ways. The most important part is to ensure that the information is perfectly received by the consumers. Government intervention is important in order to facilitate the creation of an enabling environment....
10 Pages(2500 words)Essay
New Venture
...New Venture al Affiliation) Summary of all Assumptions and Estimates Firstly, Olivia lives in Frankfurt, a with an excellent business environment and support infrastructure. Facilities like transport and logistics are not only readily available but also affordable. Secondly, services like internet and e-commerce are well-developed and supported by the good business structure and affordable rates. Thirdly, Frankfurt has a large population of upper middle and upper class residents who are usually the main target of businesses like flavored gourmet coffee beans or just high grade coffee vending and brewery. The point here is that there is a market for Olivia’s product, and that is the most...
10 Pages(2500 words)Assignment
Relation between Entrepreneur and New Venture
...). Technical skills: Most new ventures are neither equipped technically nor do they have technical competencies. Even though there are several ways of functioning, only one way is most effective and highly efficient. A good number of entrepreneurs ignore this fact and follow the trial and error method, which only wastes their resources, time, and energy. Today, many NGOs are helping businesses in the development and transfer of technology. Therefore, entrepreneurs should contact them for more support. Project Report preparation: numerous businesses do not prepare reports based on scientific lines, but prepare them to...
16 Pages(4000 words)Essay
Entrepreneur Report
...Objectives Setting a competent set of objectives is one of the crucial aspects of every entrepreneur. According to my own knowledge and understanding, my entrepreneurial objectives include: Developing Self-Enthusiasm Strengthening collaboration between capabilities and business goals Managing and encouraging managerial ability Perceiving clear communication and decision making capability Forming adequate risk talking ability Beyond the above mentioned entrepreneurial objectives, I would also pay utmost attention on increasing my knowledge and abilities to understand or grasp the opportunities by evaluating the prevailing different market scenarios. Nevertheless, improving perceptual skills and...
2 Pages(500 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 Reflective Learning Report: Developing New Venture for an Entrepreneur for FREE!
Contact Us