Assignment Sample 1

Introduction

The paper is based on every possible fact about the basic features of an entrepreneur. , The paper will also engross some insight into the concept of entrepreneurship concerning a live example of an entrepreneur in the market. This entrepreneur must be one of the friends, relatives, or any of the contacts. By going through a proper procedure of research that entrepreneur has been found based upon which the paper will provide a deep insight into entrepreneurial activities as well as skills (Arnkil & Spangar, 2014).

The paper will again take these skills as well as activities into consideration and based upon that there will be the description of a self-reflection showing the entrepreneurial skills concerning the mentioned activities and skills. Further, the paper will also provide a deep yet brief insight into the effects of these skills as well as the activities on business, society, the economy, and the environment. There will be a clear discussion regarding the effects of these skills and activities of entrepreneurship affect the views regarding the enterprise. Thus the paper will provide a clear picture of the concept of entrepreneurship along with the details of being an entrepreneur (Daniel & Daniel, 2015).

Therefore to provide a transparent insight into being an entrepreneur it is essential to know what the actual meaning of an entrepreneur is. As per Danson & Burnett, the entrepreneur is an individual who has the qualities to start, manage, and organize any kind of enterprise, especially a business organization. Thus an entrepreneur is such person who will be quite flexible in taking initiatives and risks for the growth of the enterprise.

An entrepreneur is supposed to have in control of a commercial undertaking that redirects the factors of production about the financial, human, and material resources. In that context, the role of an entrepreneur is viewed with the concept of entrepreneurship. It is the process that engrosses the activity of any individual in identifying the business opportunity along with the deployment of all possible resources needed for the exploitation. As an entrepreneur, the individual goes for creative destruction which indicates the launch of innovations and simultaneously destroys the old industries with the establishment of new ones. Moreover, entrepreneurship is said to be the main engine that can drive economic growth (Galloway, Marks & Chillas, 2014).

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Research Undertaken

In that context, one entrepreneur has been found named Richard Brown from Australia. He is the one who started the takeaway business in Melbourne. He is 45 years old and holds a degree in software engineering along with a master’s Degree in Business Administration. He is known because he is one of the friends of friends. So he has been in contact for many years. He has been working in many multinational companies initially as an engineer but his positions are increasing based on his activities and skills. He has an effective as well as efficient quality to manage all the employees under his supervision (Gundry, Ofstein & Kickul, 2014).

Thus Richard Brown is such a person who has the qualities to organize and manage people as well as situations very well. For that reason, within a very short period, the management of the multinational company promoted him from the position of senior engineer to one of the members of senior management. By being an official of senior management he improvised many of his managerial skills and gradually a thought arose in mind. Instead of working from nine to five, he started watering the wishes that he had from the beginning. He then decided to start an enterprise of his own (Hall & Rapanotti, 2013).

Going in that manner he wanted to challenge himself and his abilities along with the process by which he wanted to work without answering any boss. In the initial condition, he had chosen a small inheritance to provide the funds for the start-up. Thus by being an entrepreneur from a senior management level employee, Richard had not only started a business but at that time he also put his wealth at risk.

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In that process, Richard also went to many of his close friends from college for the formation of an entrepreneurial team. This team is supposed to make the division of every possible risk associated with the business and also help in spreading the risk of a new venture by bringing innovations and talents onto the spot. Richard found two of his friends interested in joining him, one has a grip over accounting and the other has a strong grip over marketing (Jones & Iredale, 2014). So the collaboration of three friends made a fabulous team which eventually resulted in the innovation of a takeaway business in Australia called “Fresh Box”. Thus the news regarding the success of Fresh Box was obtained from many primary as well as secondary sources.

By the time Richard Brown in collaboration with his two friends took the business far away from expectations. With the formation of the right team, Richard took the business on the path to success. The news of his success is very well known in the newspapers, magazines, television, etc. The news channels took his interview as one of the well-known entrepreneurs. These are the secondary sources by which the details of the entrepreneurial activities can be known. Apart from that, the primary data can be collected from the firms or the organizations in which it has been delivering for a long (Jones, 2014).

For that reason two of the organizations have been collected. One should be the old one and the second one should be the one which is delivering food to the employees for one year. From both the organizations 50 employees each were considered. In that manner through random sampling questions were asked regarding the quality of food, the timing of delivery, the behavior of the delivery man, customer service, and handling customer queries (Kapranos, 2016).

In that context, almost 80% of employees of both organizations have stated that Fresh Box has maintained the food quality during the delivery and also delivered food within the mentioned time. They have also no issue regarding the behavior of the delivery boy because Fresh Box takes this part into major consideration regarding the behavior of the employees (Lyon, 2016).

Some 5% of employees have mentioned their dissatisfaction regarding some issues relating to customer queries. More than 15% of people have nothing to say and they can be said to be confused. Thus the data from the primary as well as secondary sources provide the detail as well as the whole market scenario of the enterprise started by Richard Brown.

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Entrepreneurial Activities

As mentioned in the above portion Richard had set up his enterprise of order takeaway named Fresh Box in Melbourne, Australia. , he carried out his business of delivering food to many of the employees of multinational companies for a long. They carry out the process of business by going through the constantly moving pieces, organizing the activities, leading the initiatives, putting out fires, and making the stuff happen. In that case, the entrepreneur should go forward in his business by following specific activities that will take his business on the success path.

Thus the process that is to be followed is planning for the next product, brainstorming the next business, mentoring someone, strategizing the next marketing move, studying human behavior, networking, going through the records, and taking time off (Nicholson & Wood, 2016).

Taking these activities into consideration Mr. Richard Brown also took his business forward. From the initial days, he had chosen only the deliver food to the employees of the multinational company in Melbourne. When he noticed the success in that part he then planned for the addition of more companies and their employees to enlarge the business (Rae & Ruth Woodier-Harris, 2013).

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Thereafter he again planned to add the delivery of various beverages along with food as a part of service in his company. Before deciding on adding Richard had thought about every aspect of business and took the risk. Afterward, Richard took the suggestion of his two friends who are also an important part of the company. Then after a deep discussion, they all strategized the next marketing move that has to be taken to enhance the business.

As one of the co-founders and friends, Richard has a strong grip on the market. He then carried out the marketing process to get back the same level of success for the business. This decision of marketing is taken by having a keen study of human behavior. Thus by studying psychology, behavior, motivation, development, and cognition, the marketing department got a clear idea of what exactly people want and how the product will reach the customers. This step is quite important because knowing the customer perception is very important for any entrepreneur (Rae, et al., 2014).

In that context, better entrepreneurship can be achieved by getting a better understanding of people. Thus, Mr. Richard understood the needs and demands of the people and incorporated the beverage delivery in the takeaway of Fresh Box in Melbourne which is quite loved by people.

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Skills:

As an entrepreneur, Robert had inculcated the necessary skills to be successful in the food takeaway service or any industry in general. Robert had the skills and ability to manage money very effectively and efficiently. Robert was well aware of the fact that if he was not able to manage money, he would not manage the business. He is used to keeping an account of the money and in which way the money is been spent every single day. It has given him the benefit of managing the budget for his business very well. He also could raise money as another skill (Storey, Minto-Coy & Lashley, 2015).

He has a strong sense of realization that once he could get to manage money he can get more money invested into his business. To attract investment for his business he understood the need to go after the ways through which he could get more money and how to convincingly make an investor invest in his business along with all the risk accompanied with it. Robert has the ability or skill to relieve the stress. In this competitive market, stress is an underlying factor that can have many implications for the business (Rae, et al., 2014). Robert knows how to deal with not only personal stress but with the stress in his organization, and among his employees as well. He has been using stress to the benefit of his business which is one of the traits of a successful entrepreneur. He can be productive.

However, it can be said that being productive in different ways is what varies for every entrepreneur. Robert knows to learn about the peak energy times in his business, his routines, and the tools of productivity that have been effective for him to execute his plans for the success of the business. One of the most important skills that Robert has as an entrepreneur is being full of determination. He has very distinct and clear goals for his business which have been helping him grow his business, hiring new employees, and increasing the sales of his takeaway service. These all activities incorporate various micro-goals within the team which have to be implemented successfully.

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Robert is not afraid to take risks which are very important skills that an entrepreneur needs to have right from the beginning of starting a business. Risk factor plays a very important role in the advancement of the business when new ventures are to be initiated for the greater good of the company. The ability to identify and accept the strengths and weaknesses of his business is one of the most important skills that Robert has as an entrepreneur. He has the process of accessing the strategies and other business processes that help in determining the strengths and weaknesses of his company (Kapranos, 2016).

This helps him in devising better strategies and business processes for his organization to achieve better productivity. As the owner and founder of Fresh Box Take Away which is based in the FMCG industry, Robert realizes the need to be efficient in hiring effective and skilled people. By selecting talented and skilled people as chefs and other profiles, he gains an efficient workforce for his business. This strengthens his company culture as well as his product and service through hiring efficient people in his team. Robert has a profound ability to manage his staff. After having effective people in his team, there is an immediate need for training and managing the new staff about the business of the organization.

Robert has recognized the need to be an effective manager of the employees himself as his business is early on the business (Hall & Rapanotti, 2013). Robert, as an entrepreneur, has been doing effective digital marketing and SEO for his business which is also a highly required skill in business. His ability to focus on the customers has been very effective for his business. The pitches, services, and products are focused on the needs of the actual customers. This assists Robert in delivering the best products and services to its customers.

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Self-reflection and effects of enterprise:

The activities that Robert has provided with insight into devising ways to grow the business. The activities such as planning for the next products both before and after the launching of the first product have provided me with the idea of growing a sustainable business. Brainstorming in Business by Robert has encouraged me to think of more ideas and go out to seek more opportunities in business.

Brainstorming in business Robert while adding beverages to the menu is an intelligent strategy that would invite more customers and more productivity to the business. Strategizing and executing the marketing initiative has to be an integral part of the business which I should not ignore while starting up as an entrepreneur. Mentoring is one skill that I would like to enhance as an individual who would keep me and my subordinates motivated when I start up my own business. Being an expert in networking like Robert would keep me updated with the connections that one has to make while doing business.

While analyzing the skills that Robert has been inculcating before the initiation of his business and during the execution of his business operations I can get a comprehensive idea regarding how to initiate an organization or become an entrepreneur. The ability to handle finances by Robert denotes that gaining control over the expenditure of money is very important to get a business on the success track. Keeping a record of all the finances by Robert definitely will let his business be oriented in terms of finances.

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The ability to raise money helps any entrepreneur in business and realizing the significance at the growing stage of the business is beneficial for Robert’s business. I would like to gain the skill of efficient management of money on my part which would provide me with the idea of dealing with finances even in times of crisis. It is very much necessary to gain ideas regarding releasing stress in an effective way in a business organization. This skill adopted by Robert is rare which would help in benefitting or deriving benefits from the stress in the organization. Identifying strengths and weaknesses is a skill that I would adopt which would help me in analyzing my shortcomings and enhance my potential for becoming an entrepreneur. This skill will also help in making effective decisions both in business and in personal life.

Hiring effective people in the organization will enhance the economy as more people will be employed and gain better knowledge regarding the business and service. Providing better service at a competitive price along with employing people will enhance the economy of the place. Its ability to focus on the target customers by Robert will have positive implications on the environmental factors as the business would be conducted on the suitability of the customers. Nowadays customers are very much green-oriented in getting service. They are very conscious regarding their health, hence, the use of preservatives and chemicals in food items should be discouraged.

Conclusion:

Robert Brown has been an effective entrepreneur according to my opinion. He has been successful as an entrepreneur so far as he has been inculcating the skills and activities that successful entrepreneurs follow. Developing and innovating products for the benefit of the people and society as a whole would result in new employment that gives production to a cascading effect on the economy. The stimulation of the associated business that supports the new business venture further adds to the development of the economy according to my point of view.

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The entrepreneur that I researched has been efficient as he has been successful in reaping benefits in his business along with managing his business very well. I would like to be an entrepreneur in the future as this would provide me with various opportunities to implement my knowledge regarding business management. Being an entrepreneur would expand my visions and ideas to a greater extent. Being an entrepreneur would provide me with the scope to utilize my resources to my full potential and the opportunity to innovate and give back to society. I would also be able to employ people which would help the cascading effect of increasing employment contributing to a higher national income.

The entire pathway of Robert Brown from working in the IT firms to thinking about having his organization in the FMCG industry with innovative food items has been successful in inspiring me to undertake entrepreneurial skills and aim at being an entrepreneur. It has been motivating to gain knowledge about entrepreneurial traits and skills along with the activities that would help in executing business operations in the organization. It cannot be denied that being an entrepreneur would accompany contributing to the society, economy, and environment as well as would benefit the organization and the world economy as a whole. Thus, the research has been very informative regarding the idea of entrepreneurship.