Assignment Entrepreneurship and Business plan final piece Essay

1999 Words Mar 6th, 2015 8 Pages

Table of Contents
Coverseet 1
Table of Contents 4
1. Introduction: 5
2. Strengths: 5
2.1. Leadership 5
2.2. Internal locus of control: 5
2.3. Need for achievement 6
3. Weaknesses: 7
3.1. Risk-taker 7
3.2. Innovativeness 7
3.3. Proactivity 8
4. Conclusion: 9
References: 10

Personal reflection on entrepreneurial characteristics

1. Introduction:
Over the years, several attempts have been made in explaining the term entrepreneurship. Surprisingly there is still no universally accepted definition. Meredith et al 1982, quoted by Kirby 2003 define entrepreneurs as “people who have the ability to see and evaluate business opportunities; to gather the necessary resources to take advantage of them; and to initiate
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Example: One of the most famous and successful entrepreneurs, Bill Gates has demonstrated risk-taking behavior by dropping out of Harvard. It was done in order to become a partner at Microsoft, a computing company that had nothing to do with the law degree he was doing at Harvard. His ability to take the risk and drop out from one of the most established Universities in the world has allowed Bill Gates to be considered as one of the most wealthy and successful entrepreneurs of all time.

3.2. Innovativeness
An innovative entrepreneur is defined as “the founder of a new venture that offered a unique value proposition relative to incumbents (e.g., new or different feature set, pricing, convenience, Customizability); and the person who came up with the original idea to start the venture” (Dyer, Gregersen and Christensen 2008). Products as well as processes are associated with being innovative. It is also strategically important as it can have a big impact on performance as well as competitiveness in the marketplace (Markman, Balkin and Schjoedt, 2001).
Example: Steve Jobs was an entrepreneur who was extremely successful due to his innovativeness. A large part of Apple’s success should be devoted to him. “Thanks to innovative and hugely popular products such as the iPod, the iPhone and more recently the iPad, Apple has become one of the most sought after brands in the world.” (Leithead, 2011)


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