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

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Reflective Report: Developing New Venture for an Entrepreneur Name Professor Course Date 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…
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Download file to see previous pages It helps them have a dream that will assist them work hard to try and achieve. The next topic is about the risks that the entrepreneur will face on his journey in entrepreneurship and how best he can be able to counter them. It obvious that the entrepreneur will encounter risks and challenges here and there in the business every now and then, but how to counter it is a real problem. This is where the skills he or she acquires from this unit will be useful. The next topic explains the diverse development I have faced as an entrepreneur working in the salad master and the diverse experience I have gained from it as well as all I have learnt from it. The next topic is on opportunities found and those that are made. This explains to the new entrepreneur the fact that in the entrepreneurial world, he or she will meet opportunities that have already been found, but more importantly he will need to make more. It explains different methods by which opportunities can be found and made. It also explains to the new entrepreneur the different types of industries in the entrepreneurial world and what service or products they offer, how competitive they are and what their value is in the market. The next topic is on effectuation. ...
This is done best by learning from existing entrepreneurs’ past experiences. As an already existing entrepreneur, I thought it a matter of importance to help other upcoming entrepreneurs know how best to approach the market (Cuervo, Ribeiro & Roig, 2007). This I thought will be best if I used my past experiences to help them learn through my very own experiences to become even better. My experience in the salad master business is very subtle in the learning experience I will be giving them. There is need for the entrepreneur to learn and be conversant with developments in the entrepreneurial culture up to date. There exists some background information on the development of entrepreneurship in the UK. In the 1970s, the economy of the UK economy was under crisis. This was brought about by the fact that there existed large companies which were really inflexible and quite slow. In the 1980s, there was a little improvement. There was growth of the small firm sectors of entrepreneurship; it was termed as “Enterprise culture”. The changes continued and from the 1990s to now, the importance of entrepreneurship in the UK grew in importance (Carsrud & Bra?nnback, 2007). This was in response to the rapidly changing economy globally. In the present, the entrepreneurship culture has developed and extended to health levels, education levels and policing levels. It has now been termed as “Entrepreneurial child”. The government now strives to find individuals with psychological profiling techniques to take over the entrepreneurial culture and help improve it. Risks involved and how to counter them by use of prediction In the field of entrepreneurship, there exist different factors of production. These include land, which can involve ...Download file to see next pagesRead More
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