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Entrepreneurship - Creative Journal - Essay Example

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From the results obtained from the general measure of enterprising tendency tests, I have realized that I need to develop and improve my need for achievement, need for autonomy, and locus of control…
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Entrepreneurship - Creative Journal
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Download file to see previous pages In business, most managers believe that this is the most significant mark of a successful entrepreneur (Mazzarol, 2007). Achievement can also be enhanced by giving rewards, salary increment, bonuses and rises to most successful employees. Employers also play significant roles in developing employees’ skills and talents. They can collude with learning institutions to support and supervise research done by their employees, or through transversal skill development (Mazzarol, 2007). Human resource managers also need to provide clear hiring and exit procedures, but more notable is to retain current employees through a set of institutional benefits like competitive wage, support for international mobility, and supplementary pension schemes (Mazzarol, 2007). Locus of control describes the extent to which a person believes that the outcome results are influenced by their own behaviors, or from their external surrounding. Managers, therefore, need to create an environment that motivates its employees to work hard towards achieving the organization’s goals (Mazzarol, 2007). Locus of control is usually low when change strategies are being implemented within the organization. In order to solve this problem, managers have to create an effective means of communication that informs the employees on the strategies and processes required for the implementation of that change. As the work environment changes, I realized that I can either contribute to the success or failure of a business. My attitude towards the impacts of external influences on the quality of work and the success of the business is the key factor that influences my contributions to the success of the business. Positive external influences enhance my efficiency and productivity within a short period, as compared to negative external influences that still require consultations and decision making process in order to be resolved. This process involves much time, and this slows down employees’ morale towards achieving the organizational goals and objectives (Mazzarol, 2007). Second Journal Entry Set Small and large firms play ever-increasing roles in innovation. Innovation is mainly driven by market dynamics and technology. Currently, recommendable advancements have been made in several areas that include multimedia, computers and electronic devices. Of all the innovations that have been done, internet is one of the innovations that have significantly influenced my daily life. The internet has changed the way I learn, shop, communicate and conduct my business. In the modern world, internet is the most famous and effective means of spreading information, fact or fiction (Mazzarol, 2007). In the past centuries, people were once limited to news of the local television channels and newspapers. However, anybody can currently search the globe, international markets, foreign products, different cultures, international jobs and so on. Through the internet, it is much easier and cheaper to communicate with friends and relatives more than telephones and letters. The internet has given me an opportunity to meet several friends both locally and internationally. It is possible to directly communicate to distance friends face-to-face, or through chatting. In other words, internet has limited both geographical and political boundaries that earlier ...Download file to see next pagesRead More
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