Applying a Qualitative Analysis to a Current Business Concept

This study focuses on the challenges related to work experience that is often faced by an entrepreneur. The study uses qualitative interview to gather necessary information from the entrepreneurs. Findings reveal lack of support, funds and confidence as the main challenges faced by entrepreneurs. The study also highlights the importance of prior experience for entrepreneurs and its impact on the success of the venture. The study concludes that entrepreneurship is necessary to successfully establish and run a new business venture.

Applying a qualitative analysis to a current business concept

Table of Contents
Introduction......................................................................................................................................3
Rational of choice of qualitative interview..................................................................................3
Data analysis:...............................................................................................................................3
Findings........................................................................................................................................4
Reflection.....................................................................................................................................4
References......................................................................................................................................10

Introduction
Entrepreneurship is a crucial activity that is related to start and run a new business
venture successfully. In other words, entrepreneurship is an activity to develop, organize and run
a new business enterprise so that adequate amount of profit can be attained. This activity is
performed by entrepreneurs who have the ability to create, organize and run a new business
venture. In this situation, the main aim of entrepreneurs is to earn higher amount of profit. To
become a successful entrepreneur is not an easy practice. There are certain ancient challenges
associated with entrepreneurial practices (Zucchella and Magnani, 2016). The present study is
based on the challenges related to work experience that is often faced by an entrepreneur.
Without having any sort of prior experience, it become quite difficult for an entrepreneur to start
as well as run a business venture successfully. In this regard, an interview will be conducted to
gather necessary information from the entrepreneurs. The selection of the interview question will
be based on most significant issues associated with the entrepreneurial practices. In addition, the
study will cover analysis along with necessary findings of the report. At end, a reflection on the
process of interview and analysis will also include in the following report.
Rational of choice of qualitative interview
The main rational to select qualitative interview is its ability to provide detailed information
on a specific topic. Qualitative method is important in terms of gathering detailed and in-depth
information (Mukherjee, 2019). In present scenario, an interview will be conducted to collect
significant data to make meaningful inferences in the future period of time. Through the
interview, it is possible to get appropriate information from the entrepreneurs. Here, the
interview questions are given below:
 Do you have any prior experience to handle a business or corporation?
 What are the challenges you are facing in running the new business venture successfully?
Data analysis:
It is analyzed that entrepreneurship is an important activity to develop, organize and
manage a new business. While starting or running a new business venture ample of issues are
faced by the entrepreneurs. The main aim of entrepreneurial practice is to earn significant

amount of profit. However, entrepreneurs are also likely to contribute in growth and enlargement
of economy successfully (Basco, Calabrò and Campopiano, 2019). Prior experience helps an
individual to understand the opportunities that exist in market place. In addition, prior experience
makes it easy for the entrepreneurs to recognize and make the most of the opportunities for
future growth (Do you Need Prior Experience to be an entrepreneur, 2022).
It is monitored that the entrepreneurs are likely to face the issue of lack of support while
starting the new venture. At initial stage, it is tough to make people believe in the idea. In
addition to this, the issue related to funds is also faced by the entrepreneur at initial phase.
Further, the other challenge is related to lack of confidence. When the entrepreneurs do not have
necessary support and funds, they often lose confidence in self which will affect the progress of
the venture profoundly (The 5 toughest things entrepreneurs face when starting a business,
2022).
Findings
From the above-information, it is found that entrepreneurship is an imperative function
from economical perspective as well. It helps in generating ample of employment opportunities
for the individual persons. It is analyzed that having prior experience is really important for the
entrepreneurs. It is one of the crucial aspects that directly affect the success of entrepreneurs. If,
they have prior experience, they can easily identify the business opportunities. Further, they can
also perform the business functions profoundly to run the new venture successfully.
Additionally, it is found that entrepreneurs have to face numerous challenges while starting or
running a new venture. The inability to obtain adequate employment is one of the main causes of
people starting their own businesses. In that process entrepreneurs start new businesses, which
opens up various opportunities for individuals to work in. The most significant challenge has
been identified as lack of support. Initially, entrepreneurs found it difficult to make people
convince with their business idea. It is also found that family, friends and other close people also
not likely to support the entrepreneurs at starting phase. Further, they also face challenge in
terms of getting necessary amount of funds to run the business venture successfully. Here, lack
of support and funds also shrink the confidence of entrepreneurs in their own idea. As a result,
they lose confidence to run the venture smoothly and efficiently. Along with it, entrepreneurs are
able to make money for themselves as well as for the people they employ in their businesses. As

a result, those who previously lacked employment will now have the opportunity to pursue a
career and grow better in life. Furthermore, it can also be said that entrepreneurship is necessary
to successfully establish and run a new business venture. In other words, entrepreneurship is the
act of founding, establishing, and running a new business with the goal of making a sizable
profit. Entrepreneurs who are capable of planning, launching, and managing a new business
venture carry out this task. The overall competition will be increased and also the level of
productivity will be elevated. Entrepreneurs open up new markets and businesses which can put
pressure on the established companies because they frequently enter the market with lower prices
and a wider selection of goods. This can prompt present market players to quickly review their
plans, increase their value, make savings, and boost productivity. Since of this, a more
competitive economy is advantageous because people and firms will seek out ways to improve
their operations. Entrepreneurs that are beginning new enterprises and have ambitious growth
goals.
Reflection
The present study revolves around entrepreneurial practices. To complete a study, it is
important to collect necessary amount of data. In present situation, the data has been gathered
through interview. Here, I have been taken interview of entrepreneurs to get information
regarding their experience, challenges and more. I faced some difficulties while taking the
interviews as some entrepreneurs were not Entrepreneurs open up new markets and businesses.
in the process of interview. Also, some entrepreneurs were not likely to provide timely and
accurate information that will affect the overall research outcomes in profound manner. During
the analysis, I need to collect ample of information from different sources that is a difficult and
time-consuming task. Further, I need to devote huge time in terms of analyzing the information
appropriately. However, I managed to gather accurate information to make the entire study
authentic and reliable which improves the overall quality of research study. Due to interview, I
could gather limited amount of information that will affect the final outcomes profoundly. In the
present study thematic analysis has been used that is based on theoretical analysis. Hence, the
study lacks in terms of numerical and data analysis to enhance the overall authenticity and
reliability.

Interview Transcript
Q1) Tell me something about yourself
Q2) What are your greatest strengths?
Q3) Do you have knowledge regarding the concept Entrepreneurial self-efficacy?
Q4) Do you think Entrepreneurial self-efficacy facilitates in improving the level of innovation
in the society? If your answer is yes, then explain why do you believe this?
Q5) According to your perspective, what are the outcomes of Entrepreneurial self-efficacy?
Q6) Do you think Entrepreneurial self-efficacy allows to change the level of perspective in
stressful issues?
Q7) What are the key measures of entrepreneurial self-efficacy?
Q8) As per your view do you think use of long-term changes in entrepreneurial self-efficacy
drives the short-term fluctuations?
Q9) How does use of Alternative theoretical approaches helps in improving the study of
entrepreneurial self-efficacy?
Q10) What do you think your weaknesses are?
Theme 1: About Yourself
Q1) Tell me something about yourself
I'm searching for the work where better opportunities can be attracted. In that process I can
collaborate with new people and pick up new skills. In addition to this, I’ll feel good about
pushing myself to try something new in future.
Theme 2: Greatest strengths
Q2) What are your greatest strengths?
I'd say one of my main strengths is to deal with high-stress situations and putting regulations
in place to make everyone's lives easier. Along with it, I keep looking to create brand-new
processes for scheduling meetings, making monthly agendas for myself and for the events. I
would be excited to utilise the same approach in any management position in future. As when
everything is new and expanding and could need just the right amount of structure to keep
things moving effectively.

Theme 3: knowledge regarding the concept Entrepreneurial self-efficacy
Q1) Do you have knowledge regarding the concept Entrepreneurial self-efficacy?
Yes, I have great knowledge about the concept of entrepreneurial self-efficacy. As it is linked
with the aspects of self-esteem and image. The way an individual feel about himself or herself
affects the ways in which he or she communicates. Nowadays it is must to convey the message
properly in order to create a major impact on others. I have also read many articles in relation
to it and it is related to the entrepreneurial thinking and acting in the careers.
Theme 4: Entrepreneurial self-efficacy facilitates in improving the level of innovation in the
society
Q4) Do you think Entrepreneurial self-efficacy facilitates in improving the level of innovation
in the society? If your answer is yes, then explain why do you believe this?
I think that entrepreneurial self-efficacy enables in boosting the level of innovation in the
society. As it is known to drive the force in the process of obtaining the competitive
advantage. Along with it, it works on the innovative behaviour that requires validation.
Likewise, it can also be seen that the core of entrepreneurship is to grab various opportunities,
mix resources, and then innovate and act promptly. Entrepreneurial self-efficacy is very
beneficial in enhancing the level of innovation in the society. Because the features of the
Entrepreneurial self-efficacy of entrepreneurs are considered as the main in the environmental
adaption and also the personal achievement. Additionally, self-efficacy can also be defined as
the belief of an individual in relation to desired goals. But some people also say that the term
Entrepreneurial self-efficacy does not support in enhancing the level of innovation in the
society.
Theme 5: The outcomes of Entrepreneurial self-efficacy
Q5) According to your perspective, what are the outcomes of Entrepreneurial self-efficacy?
As per my perspective, there are various term which are involved in the process of
Entrepreneurial self-efficacy. Such as Entrepreneurial intentions, behaviour, mental state, level
of performance, venture creation and many others. The outcomes have various heads which

are related to cultural environment, educational training, work experience, about role models
and many more.
Theme 6: Entrepreneurial self-efficacy allows to change the level of perspective in stressful
issues
Q6) Do you think Entrepreneurial self-efficacy allows to change the level of perspective in
stressful issues?
I think yes, Entrepreneurial self-efficacy allows to change the level of perspective in stressful
issues. It allows the individuals to be confident in their level of performance in relation to new
innovations. While some individuals do not take the risks and challenges as they feel stressed
and emotionally drained. It can also be defined as one of the significant elements for dealing
with various issues. It is related with the diverse aspects of human nature that is self-esteem
and image. It can also be seen that the way a distinct feel about himself or herself affects the
ways in which he or she connects. Today it is must to carry the communication properly with
the aim of creating a major impact on others.
Theme 7: The key measures of entrepreneurial self-efficacy
Q7) What are the key measures of entrepreneurial self-efficacy?
There are various measures of entrepreneurial self-efficacy such as it can be seen that over the
past decades, there is a rise in the amount of study on entrepreneurial self-efficacy. As it holds
a special place in relation to entrepreneurial thought and behavior in today's careers. There are
many measures which are involved in the entrepreneurial self-efficacy. Due to which the
researchers, educators and policy makers are interested in inspiring the entrepreneurial
activities. Such activities are carried out autonomously by individuals. The companies have
also started to pay close attention to how people think and behave in this context.
Entrepreneurial self-efficacy is influenced by a variety of factors. Moreover, Entrepreneurial
self-efficacy is said to be the measure of how confident entrepreneurs are in their capacity to
attain all the tasks.

Theme 8: Use of long-term changes in entrepreneurial self-efficacy drives the short-term
fluctuations
Q8) As per your view do you think use of long-term changes in entrepreneurial self-efficacy
drives the short-term fluctuations?
As per my views the short-term changes are caused by long-term changes in entrepreneurial
self-efficacy. Entrepreneurial innovation is known to be a key factor in securing competitive
advantages. Furthermore, ESE also vividly improves the conduct of entrepreneurs who
innovate.
Entrepreneurship is necessary to be able to successfully develop and manage a new firm
project. In other words, entrepreneurship is the act of founding, establishing, and running a
new business with the goal of making a sizable profit. Entrepreneurs who are capable of
planning, launching, and managing a new business venture carry out this task. In this situation,
the main objective of the entrepreneur is to raise their profit margin. Analysis shows that
launching a new business needs a lot of forethought, organization, and initiative. When
starting or running a new firm, entrepreneurs confront a variety of difficulties. Entrepreneurial
activity's primary purpose is to make a substantial profit. Successful businesspeople are,
nevertheless, also likely to help the economy expand and grow.
Theme 9: Alternative theoretical approaches help in improving the study of entrepreneurial
self-efficacy
Q9) How does use of Alternative theoretical approaches helps in improving the study of
entrepreneurial self-efficacy?
First is the economic theory of entrepreneurship, followed by the psychological theory, the
sociological theory, the anthropological theory, the opportunity-based theory, the opportunity-
based theory of entrepreneurship, the opportunity-based theory of entrepreneurship and also
the resource-based theory. Making use of various theories the research of the entrepreneurial
self-efficacy can be improved.
Theme 10: About weaknesses
Q10) What do you think your weaknesses are?
I usually get caught up in the little things which might make me miss the greater picture in life.

References
Books and journals
Basco, R., Calabrò, A. and Campopiano, G., 2019. Transgenerational entrepreneurship around
the world: Implications for family business research and practice. Journal of Family
Business Strategy, 10(4), p.100249.
Mukherjee, S.P., 2019. A guide to research methodology: An overview of research problems,
tasks and methods. CRC Press.
Zucchella, A. and Magnani, G., 2016. International entrepreneurship: theoretical foundations
and practices. Springer.
Online
Do you Need Prior Experience to be an Entrepreneur?, 2022. [Online]. Available through :<
https://thebusinessprofessor.com/en_US/business-management-amp-operations-strategy-
entrepreneurship-amp-innovation/prior-experience-in-entrepreneurship/>
The 5 toughest things entrepreneurs face when starting a business, 2022.[Online]. Available
through :< https://www.jotform.com/blog/challenges-entrepreneurs-face-when-starting-a-
business/>