Entrepreneurship Analysis
VerifiedAdded on 2022/12/16
|7
|1849
|98
AI Summary
This document provides an analysis of entrepreneurship, including a critical review, origin of entrepreneurial ideas, and characteristics of Colette Hayman. It also discusses start-ups and the development of entrepreneurial ventures. The document is relevant for students studying entrepreneurship.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
![Document Page](https://desklib.com/media/document/docfile/pages/entrepreneurship-analysis-51q4/2024/09/15/1c55ca5e-2672-4cba-b12b-b6b0efc87ea2-page-1.webp)
Entrepreneurship Analysis
1
1
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
![Document Page](https://desklib.com/media/document/docfile/pages/entrepreneurship-analysis-51q4/2024/09/15/9a22eecb-3975-43cc-84a1-815f46d9cca5-page-2.webp)
Table of Contents
Introduction......................................................................................................................................3
Main Body.......................................................................................................................................3
TASK 1............................................................................................................................................3
Critical review of entrepreneurship.............................................................................................3
Origin of entrepreneurial ideas....................................................................................................4
Entrepreneurial mind set/ characteristics of Colette Hayman.....................................................4
TASK 2............................................................................................................................................5
Analyse start ups and development of entrepreneurial venture..................................................5
Entrepreneurial experience, knowledge and motivation.............................................................5
Entrepreneurial journey...............................................................................................................5
References........................................................................................................................................7
2
Introduction......................................................................................................................................3
Main Body.......................................................................................................................................3
TASK 1............................................................................................................................................3
Critical review of entrepreneurship.............................................................................................3
Origin of entrepreneurial ideas....................................................................................................4
Entrepreneurial mind set/ characteristics of Colette Hayman.....................................................4
TASK 2............................................................................................................................................5
Analyse start ups and development of entrepreneurial venture..................................................5
Entrepreneurial experience, knowledge and motivation.............................................................5
Entrepreneurial journey...............................................................................................................5
References........................................................................................................................................7
2
![Document Page](https://desklib.com/media/document/docfile/pages/entrepreneurship-analysis-51q4/2024/09/15/65cd7838-1389-46d9-b6cf-0e531e090d81-page-3.webp)
Introduction
Entrepreneurship is defined as ability for developing, organising and running a business
enterprise. There are lot of uncertainties while conducting work on these kid of projects. An
individual who is having the desire to establish, administer and succeed within a start-up venture
along with risk entitled to it (Aldrich, 2017). A person has capability of starting new business
venture as private or multinational company within business environment. the following report is
based upon Colette Hayman.
Main Body
TASK 1
Critical review of entrepreneurship
According to the views of Lopez and et.al, (2016), the ability of the individual to run and
organise the activities of the business is known as entrepreneurship it is basically creation and
extraction of values it helps in developing new and innovative ideas in the business which helps
in increasing the profit of the business in the market (Drobyazko, and et. al., 2019). Entrepreneur
is the owner of the organisation who run the business with the aim of earning profit they analyse
the need and requirement of the customers and accordingly they develop their products and
services so that productivity of the organisation can be increased. There are four types of
entrepreneurship which are given below:
Small business entrepreneurship: In these organisation entrepreneur hire local employees
and family members to perform the activities of the business ((Kuratko, 2018). They
operate the activities of the business by taking small loans or funds from their friends or
family members these organisations satisfy the basic needs of the individual. Grocery
store, plumbers, electricians are the example of these organisation.
Scalable start-up Entrepreneurship: Entrepreneur starts a business with the aim of earning
more profit as compared to other businesses in the market. They hire the well skilled
employees in the organisation so that best services can be provided to the customers so
that demand of the business can be increased in the market.
Large company Entrepreneur: Entrepreneur of these organisation provides new and
innovative services of the customers so that demand of the business can be increased in
3
Entrepreneurship is defined as ability for developing, organising and running a business
enterprise. There are lot of uncertainties while conducting work on these kid of projects. An
individual who is having the desire to establish, administer and succeed within a start-up venture
along with risk entitled to it (Aldrich, 2017). A person has capability of starting new business
venture as private or multinational company within business environment. the following report is
based upon Colette Hayman.
Main Body
TASK 1
Critical review of entrepreneurship
According to the views of Lopez and et.al, (2016), the ability of the individual to run and
organise the activities of the business is known as entrepreneurship it is basically creation and
extraction of values it helps in developing new and innovative ideas in the business which helps
in increasing the profit of the business in the market (Drobyazko, and et. al., 2019). Entrepreneur
is the owner of the organisation who run the business with the aim of earning profit they analyse
the need and requirement of the customers and accordingly they develop their products and
services so that productivity of the organisation can be increased. There are four types of
entrepreneurship which are given below:
Small business entrepreneurship: In these organisation entrepreneur hire local employees
and family members to perform the activities of the business ((Kuratko, 2018). They
operate the activities of the business by taking small loans or funds from their friends or
family members these organisations satisfy the basic needs of the individual. Grocery
store, plumbers, electricians are the example of these organisation.
Scalable start-up Entrepreneurship: Entrepreneur starts a business with the aim of earning
more profit as compared to other businesses in the market. They hire the well skilled
employees in the organisation so that best services can be provided to the customers so
that demand of the business can be increased in the market.
Large company Entrepreneur: Entrepreneur of these organisation provides new and
innovative services of the customers so that demand of the business can be increased in
3
![Document Page](https://desklib.com/media/document/docfile/pages/entrepreneurship-analysis-51q4/2024/09/15/c186dca1-114c-47b9-b9a4-11df6e423287-page-4.webp)
the market. These organisations use new technologies to innovate their services so that
company can get competitive advantage in the market.
Social Entrepreneurship: These are the entrepreneur work for the welfare of the society
not for earning profit in the market.
Origin of entrepreneurial ideas
Entrepreneur ideas plays an important role in the growth of the business for the long term
survival of the business entrepreneur has to plan various strategies in the basis of the ideas so
that best quality of services can be provided to the customers and increase the goodwill of the
business in the market (Morozova, Popkova, and Litvinova, 2019). Entrepreneur should develop
the innovative ideas so that unique services can be provided to the economy. Entrepreneur
should always look for the ideas which can helps in innovating the services of the organisation,
they also analyse the risk which should be involved in the innovative process so that company
cannot face any loss in the future. Accomplishment of the entrepreneur ideas involves various
technologies, funds and risk which will helps the business to achieve its targets effectively
(Bouquet and et.al, 2018). Entrepreneur should plan their strategies as per the needs and
requirement of the customers so that better outcome can take place.
Entrepreneurial mind set/ characteristics of Colette Hayman
Colette Hayman has a positive approach towards entrepreneurial aspect. They are having
different competencies which included the following -
Taking initiative - This is an inner urge for taking a step towards setting up a new enterprise.
Colette Hayman is one of the most innovative entrepreneurs who is an innovator and carried out
innovations within handbags, jewellery and other accessories (Nambisan, 2017).
Persistence - Colette Hayman is an entrepreneur who is never disheartened by failures. She
always adapts new scenarios and work according to that. She works in better manner in each and
every situation. she is always working keenly for managing the goal attainment.
Information seeking - Colette Hayman is always looking for new opportunities within business.
she keeps herself motivated for attaining goals and managing the way in which products can be
provided to customers.
4
company can get competitive advantage in the market.
Social Entrepreneurship: These are the entrepreneur work for the welfare of the society
not for earning profit in the market.
Origin of entrepreneurial ideas
Entrepreneur ideas plays an important role in the growth of the business for the long term
survival of the business entrepreneur has to plan various strategies in the basis of the ideas so
that best quality of services can be provided to the customers and increase the goodwill of the
business in the market (Morozova, Popkova, and Litvinova, 2019). Entrepreneur should develop
the innovative ideas so that unique services can be provided to the economy. Entrepreneur
should always look for the ideas which can helps in innovating the services of the organisation,
they also analyse the risk which should be involved in the innovative process so that company
cannot face any loss in the future. Accomplishment of the entrepreneur ideas involves various
technologies, funds and risk which will helps the business to achieve its targets effectively
(Bouquet and et.al, 2018). Entrepreneur should plan their strategies as per the needs and
requirement of the customers so that better outcome can take place.
Entrepreneurial mind set/ characteristics of Colette Hayman
Colette Hayman has a positive approach towards entrepreneurial aspect. They are having
different competencies which included the following -
Taking initiative - This is an inner urge for taking a step towards setting up a new enterprise.
Colette Hayman is one of the most innovative entrepreneurs who is an innovator and carried out
innovations within handbags, jewellery and other accessories (Nambisan, 2017).
Persistence - Colette Hayman is an entrepreneur who is never disheartened by failures. She
always adapts new scenarios and work according to that. She works in better manner in each and
every situation. she is always working keenly for managing the goal attainment.
Information seeking - Colette Hayman is always looking for new opportunities within business.
she keeps herself motivated for attaining goals and managing the way in which products can be
provided to customers.
4
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
![Document Page](https://desklib.com/media/document/docfile/pages/entrepreneurship-analysis-51q4/2024/09/15/051cf417-1680-4e67-a787-dbe1eed32131-page-5.webp)
TASK 2
Analyse start ups and development of entrepreneurial venture
Start-ups are the new businesses that are started with a new innovative idea. This can be
sole proprietorship, partnership, etc. which have less resources and annual revenue than large and
medium company (Neck and Corbett, 2018). On the other hand, entrepreneurial venture is
known as concept for starting a new small business for offering a service or product in order to
enhance profit.
The development of entrepreneurial venture depends upon several factors. some of these
are mentioned below -
Market research - This is the first step while starting any initiate towards planning a new
business idea. It is seen that when managing to obtain desired financial as well as non financial
objectives, it is important to conduct a successful market research.
Validation of idea - New and innovative ideas must be used effectively within business
environment. it is examined that new innovative ideas must be valid able. They can be
understood effectively and goals are attained in proper manner.
Focusing on value proposition - The main thing is to focus upon managing and developing
new innovations perfectly. There is also need to manage and develop effective ways to start the
new project.
Entrepreneurial experience, knowledge and motivation
Entrepreneurial motivation and experience are major factors in an individual's life if he or
she is starting and running a new business. The concept of entrepreneurial motivation is defined
as process of transforming an ordinary idea into powerful business plan. there are several factors
which Colette Hayman has worked upon for managing the enhancing wealth and economic
development. This lady had positive attitude towards business. She worked hard for starting most
popular and famous website of jewellery, accessories and handbags. Colette has worked in
proper manner for overcoming different hurdles and managing the work in effective manner. She
has focused upon managing project activities and tasks to cover different business opportunities.
Entrepreneurial journey
Colette Hayman has started a creative outlet which embraced the pace of fast fashion.
there is opportunity for sharing flair for seeking out and styling product. This entrepreneur has
5
Analyse start ups and development of entrepreneurial venture
Start-ups are the new businesses that are started with a new innovative idea. This can be
sole proprietorship, partnership, etc. which have less resources and annual revenue than large and
medium company (Neck and Corbett, 2018). On the other hand, entrepreneurial venture is
known as concept for starting a new small business for offering a service or product in order to
enhance profit.
The development of entrepreneurial venture depends upon several factors. some of these
are mentioned below -
Market research - This is the first step while starting any initiate towards planning a new
business idea. It is seen that when managing to obtain desired financial as well as non financial
objectives, it is important to conduct a successful market research.
Validation of idea - New and innovative ideas must be used effectively within business
environment. it is examined that new innovative ideas must be valid able. They can be
understood effectively and goals are attained in proper manner.
Focusing on value proposition - The main thing is to focus upon managing and developing
new innovations perfectly. There is also need to manage and develop effective ways to start the
new project.
Entrepreneurial experience, knowledge and motivation
Entrepreneurial motivation and experience are major factors in an individual's life if he or
she is starting and running a new business. The concept of entrepreneurial motivation is defined
as process of transforming an ordinary idea into powerful business plan. there are several factors
which Colette Hayman has worked upon for managing the enhancing wealth and economic
development. This lady had positive attitude towards business. She worked hard for starting most
popular and famous website of jewellery, accessories and handbags. Colette has worked in
proper manner for overcoming different hurdles and managing the work in effective manner. She
has focused upon managing project activities and tasks to cover different business opportunities.
Entrepreneurial journey
Colette Hayman has started a creative outlet which embraced the pace of fast fashion.
there is opportunity for sharing flair for seeking out and styling product. This entrepreneur has
5
![Document Page](https://desklib.com/media/document/docfile/pages/entrepreneurship-analysis-51q4/2024/09/15/e4cbd596-85c1-4170-a25b-f2194d99d090-page-6.webp)
always believed that for a women most essential thing is that she should be wearing all good
things to be attractive. In the whole journey of Colette Hayman, she has focused upon providing
people the best product. She has focused upon striving to inspire and enable the customers to
have innovative experience (Sutter, Bruton, and Chen, 2019). Colette has worked on managing
the business in context of managing the product innovation and providing new product to the
customer. She has worked upon encompassing all project activities and knowing what actually
women want. She has been focusing upon employment and how it affects the business
opportunities. There are free standing stores started by Colette in order to enhance brand
recognition. she thinks that this is also a good plan for strong publicity campaign for announcing
the brand in front of audiences. fashion is one of the most competitive industry. It is essential
that for an entrepreneur who wants to start a new business must be passionate about something.
Colette is always looking for opportunities and growth. she never put herself down. She always
kept moving forward and coping up within business environment, there are several challenges
that this lady has faced while managing the customer challenges. Colette has used digital media
to expand her business. She has used digitisation for enhancing advertising and marketing. By
using positive approach of doing business, Colette is launching a new brand campaign shot every
month.
Ethical and societal impact of Colette Hayman
According to Mark Casson Theory of entrepreneurship, it can be concluded that entrepreneurs
develop through their own skills. This theory states that individuals who have similar kind of
attributes. The entrepreneur exhibits this phenomenon and they can take decisions in different
manner from other individuals. In context of Colette Hayman, it is considered that she expects to
earn profit from the difference in perception by ‘taking a position’ in jewellery and apparel
industry.
6
things to be attractive. In the whole journey of Colette Hayman, she has focused upon providing
people the best product. She has focused upon striving to inspire and enable the customers to
have innovative experience (Sutter, Bruton, and Chen, 2019). Colette has worked on managing
the business in context of managing the product innovation and providing new product to the
customer. She has worked upon encompassing all project activities and knowing what actually
women want. She has been focusing upon employment and how it affects the business
opportunities. There are free standing stores started by Colette in order to enhance brand
recognition. she thinks that this is also a good plan for strong publicity campaign for announcing
the brand in front of audiences. fashion is one of the most competitive industry. It is essential
that for an entrepreneur who wants to start a new business must be passionate about something.
Colette is always looking for opportunities and growth. she never put herself down. She always
kept moving forward and coping up within business environment, there are several challenges
that this lady has faced while managing the customer challenges. Colette has used digital media
to expand her business. She has used digitisation for enhancing advertising and marketing. By
using positive approach of doing business, Colette is launching a new brand campaign shot every
month.
Ethical and societal impact of Colette Hayman
According to Mark Casson Theory of entrepreneurship, it can be concluded that entrepreneurs
develop through their own skills. This theory states that individuals who have similar kind of
attributes. The entrepreneur exhibits this phenomenon and they can take decisions in different
manner from other individuals. In context of Colette Hayman, it is considered that she expects to
earn profit from the difference in perception by ‘taking a position’ in jewellery and apparel
industry.
6
![Document Page](https://desklib.com/media/document/docfile/pages/entrepreneurship-analysis-51q4/2024/09/15/97cb950b-bc57-4547-bdf0-32983de1cfa3-page-7.webp)
References
Books and Journal
Aldrich, H. (2017). Learning together: National differences in entrepreneurship research.The
Blackwell handbook of entrepreneurship, 5-25.
Drobyazko.S. and et. al. (2019). Innovative entrepreneurship models in the management system
of enterprise competitiveness.Journal of Entrepreneurship Education,22(4), 1-6.
Kuratko, D. F., & Morris, M. H. (2018). Examining the future trajectory of
entrepreneurship.Journal of Small Business Management,56(1), 11-23.
Kwilinski.A. and et. al. (2019). Formation of the entrepreneurship model of e-business in the
context of the introduction of information and communication technologies.Journal of
Entrepreneurship Education,22, 1-7.
Morozova, I. A., Popkova, E. G., & Litvinova, T. N. (2019). Sustainable development of global
entrepreneurship: infrastructure and perspectives.International Entrepreneurship and
Management Journal,15(2), 589-597.
Nambisan, S. (2017). Digital entrepreneurship: Toward a digital technology perspective of
entrepreneurship.Entrepreneurship theory and practice,41(6), 1029-1055.
Neck, H. M., & Corbett, A. C. (2018). The scholarship of teaching and learning
entrepreneurship.Entrepreneurship Education and Pedagogy,1(1), 8-41.
Sutter, C., Bruton, G. D., & Chen, J. (2019). Entrepreneurship as a solution to extreme poverty:
A review and future research directions.Journal of Business Venturing,34(1), 197-214.
(2019)(Morozova, (2019)(Nambisan, (2017)(Neck, (2018)(Sutter, (2019)
7
Books and Journal
Aldrich, H. (2017). Learning together: National differences in entrepreneurship research.The
Blackwell handbook of entrepreneurship, 5-25.
Drobyazko.S. and et. al. (2019). Innovative entrepreneurship models in the management system
of enterprise competitiveness.Journal of Entrepreneurship Education,22(4), 1-6.
Kuratko, D. F., & Morris, M. H. (2018). Examining the future trajectory of
entrepreneurship.Journal of Small Business Management,56(1), 11-23.
Kwilinski.A. and et. al. (2019). Formation of the entrepreneurship model of e-business in the
context of the introduction of information and communication technologies.Journal of
Entrepreneurship Education,22, 1-7.
Morozova, I. A., Popkova, E. G., & Litvinova, T. N. (2019). Sustainable development of global
entrepreneurship: infrastructure and perspectives.International Entrepreneurship and
Management Journal,15(2), 589-597.
Nambisan, S. (2017). Digital entrepreneurship: Toward a digital technology perspective of
entrepreneurship.Entrepreneurship theory and practice,41(6), 1029-1055.
Neck, H. M., & Corbett, A. C. (2018). The scholarship of teaching and learning
entrepreneurship.Entrepreneurship Education and Pedagogy,1(1), 8-41.
Sutter, C., Bruton, G. D., & Chen, J. (2019). Entrepreneurship as a solution to extreme poverty:
A review and future research directions.Journal of Business Venturing,34(1), 197-214.
(2019)(Morozova, (2019)(Nambisan, (2017)(Neck, (2018)(Sutter, (2019)
7
1 out of 7
Related Documents
![[object Object]](/_next/image/?url=%2F_next%2Fstatic%2Fmedia%2Flogo.6d15ce61.png&w=640&q=75)
Your All-in-One AI-Powered Toolkit for Academic Success.
+13062052269
info@desklib.com
Available 24*7 on WhatsApp / Email
Unlock your academic potential
© 2024 | Zucol Services PVT LTD | All rights reserved.