Entrepreneurship for Professionals-Free-Samples-Myassignmenthelp

Questions: 1.Do you really think that Entrepreneurs think effectually? 2.Do you believe that ethics and social responsibility should be part of an Entrepreneurship course or did the textbook authors just include a section on it to be politically correct? 3.What excites you about being an entrepreneur? What are your major concerns? 4.Search the Internet for three accounts of successful corporate Entrepreneurship. What key factors for success are common across all of these accounts? Which are unique? 5.Why do role models Impact the decision of people to become Entrepreneurs? 6.Is increasing the Entrepreneurial orientation of a firm always a good thing? Answers: 1.Yes, Entrepreneurs think effectually. This is because they are creative and are not limited by means and goals, but can still think of other options to achieve the target and if not workable an entrepreneur will easily do away with all those options. I also think effectually because sometimes I do not know where to start from, so I just focus on my personality, Knowledge, and Network and find myself a way. This helps me to be ready for any unexpected outcome and prepares me to seize any new opportunity. However, in class, we are taught to think casually because casual thinking is ideal for entrepreneur wannabes by setting a goal in mind and laying down a specific plan towards the achievement of the goal. This inspires us to find better ways of implementing the plan and accomplishing the goal. 2.Yes, I believe that ethics and social responsibility should be part and parcel of the entrepreneurship course for two main reasons. First, any entrepreneur comes from a society like any other person and should, therefore, be concerned with things that affect the community. Additionally, no business can operate outside the society; therefore, each entrepreneur who comes from the community has the responsibility of running the business towards improving or at least maintaining the condition of the society by carrying out activities that do not harm the society. Secondly, for the sake of practical reasons ethics and corporate responsibility should be taught in classes. This is because the goods or services from the business are to be sold to customers who need to be attracted first. If the business activities are detrimental to the society, then most customers would not buy the products or services of the company for by so doing they will fill they are advancing the harmful work of the business. Therefore, ethical and social responsibility is significant towards the success of an entrepreneur. 3.Two major reasons excite me of becoming an entrepreneur. First is the current rate of unemployment. Secondly, it is the desire to work on my personal schedule. I would like to be my own boss so that I dont have to suffer for lack of jobs but instead create jobs for many unemployed people who cannot support themselves. Also, the scenario of taking orders from my boss time and again can be strenuous, and a violation of such exercise may lead to termination. Secondly, it is my desire to work when I have the psych to because the traditional way working from 9 to 5 does not exploit my potential fully and if it does then, it does to the advantage of my boss. Starting my own business can enable me to work even at night from the comfort of my house and also live a balanced work life. 4.Three successful accounts of corporate entrepreneurship include; Sony, Lockheed Martin, and W.L. Gore. The common success factors amongst the three companies are; Management support, risk taking, organizational structure and resource availability. The unique success factor amongst these three is management support because all the companies are successful because of an idea initiated by an employee and supported by the administration regarding moral and financial assistance. Firms can try and adopt an entrepreneurial climate within an existing business, but they cannot copy the procedures and processes and snatch the primary benefit because the organizational structure of firms and the entrepreneurial environment differ widely. Additionally, the processes of a given company are usually patented, and thus its illegal to imitate them in a different firm accurately. 5.Role models do affect the possibility of people becoming entrepreneurs because they offer the testimony that someone has tried or been there and therefore it is doable; therefore there is hope. I think a person whose parent was a failed entrepreneur is less likely to start a personal a business compared to the one whose parents were successful entrepreneurs. However, this assumption will depend on the personality and openness of the person. If the person whose parents failed is outgoing and can be able to endure and be consistent, then he/she can learn from other successful entrepreneurs. On the other hand, if the person with successful entrepreneurial parents lacks these traits then is less likely to be self-employed. 6.Yes, increasing entrepreneurial orientation is a good thing, but this depends on various specific factors which affect performance. For instance, the rate of profit, return on capital and sales level. If the entrepreneurial orientation is to increase business performance regarding profitability, boost financial goals regarding cash flow and rate of return on capital employed then its advisable to increase entrepreneurial orientation. However, if the converse is true, then the management has to reconsider the move first.