Understanding Entrepreneurship

The assignment explores the concept of entrepreneurship, examining personal qualities, influences, and future trends. The student reflects on their own aspirations within the field, drawing inspiration from successful entrepreneurs and considering the impact of technological advancements on the manufacturing industry.

Running head: ENTERPRENEURSHIP
Entrepreneurship
Students’ Name
Affiliate Institution

ENTERPRENEURSHIP 2
Knowing Self
Growing in the suburbs of Australia, I have developed interests in specific aspects on
issues that I had interaction with in the days surrounding. With my dad as a sportsman and my
mother a tennis fan, I grew up loving tennis, a game that I played all through my early stages of
school till now. However, going to the gym with my dad also made me love exercise as a normal
daily activity in the gym. As I grow in my career of business management, I have loved how the
business environment is struggling to cope up with technology to remain relevant in the different
spheres in the competitive business market. As a result, I have come to love technology, an
aspect that helps me keep up with all technological gadgets such as iPhones, laptops, and smart
phones.
In a self-reflection and a discussion with my family and friends, I came to realize that
they both have a common point of argument. My dad saw me growing up with enthusiasm and
helping me grow into the person I am today gives him confidence that I can be a great business
entrepreneur, an idea that is supported by my mum and elder brother as well. On the other hand,
friends find me always to have information on any technological advancement that has a direct
and indirect effect on the business world. For instance, Mathews, one of my closest friends
surprised me by telling me that any time he needs information concerning a new make of a
laptop or a trending smartphone, he will ask me directly and believe whatever answer I would
give him since he would confirm from other sources and find the same information.
From their suggestions, they say that I can be a good entrepreneur if I combine my
professional knowledge with the technological ideas and updates I do have. Through them, I
came to prove that I am optimistic, focused on learning new ideas, and trying to evaluate how the

ENTERPRENEURSHIP 3
ideas can be adopted in the business environment. However, I also found that I am prone to
procrastinating ideological implementation, an aspect that I need to improve on as other
competitors may use the same entrepreneurial ideas and take advantage of the market. Hence, I
need to be quick in the implementation of ideas such as adopting technological systems such as
cloud computing, cyber security, digital marketing, etc. in business.
For a long time, I often asked myself what it takes to be a successful entrepreneur. In a
systematic review, Hou and Lee (2016) denote that there is an often rare definition of the
recommended characteristics an entrepreneur needs to possess. However, most of the
recommended traits are often observed from other successful leaders and entrepreneurs like Bill
Gates. As an entrepreneur, I have a passion that is driven by making money but finding solutions
to different entrepreneurial challenges. I am fueled by an unshakable sense of purpose. I am also
resilience towards achieving my set goals, an aspect that has seen me through one failure to
another without losing my entrepreneurial enthusiasm. In their study, Shen and Chan (2017)
denote that as an entrepreneur, there are cases when one will often fail but will not stay there;
instead, he will focus on the goal despite the challenges encountered. I should be able to
understand that an idea maybe brilliant but less effective, an aspect that will require a high level
of flexibility in making the necessary adjustments that can make the idea feasible.
I do have a very strong sense of self, an attribute that has enabled me to overcome
numerous challenges and problems. Being resilient and passionate has enabled me to go so far
due to my strong sense of self. For instance, being self-motivated and self-confident will help me
to know a good idea and not think the idea can be good. However, I need to be flexible in

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adapting challenges and changes in the business environment to remain relevant in the
competitive business spheres.
Reflection of the Future
According to Faught and Long (2017), the arrival of every year often provokes discussion
concerning how the next 12 months are likely to unfold. Similarly, the pace of innovation is seen
to accelerate at a faster rate than before. Therefore, there is a need for progressive entrepreneurs
to look further ahead on how their businesses will adopt the changes in the innovation. Walz
(2016) also points out that the period between 2014 and 2025 is poised in redefining virtually all
the facets of the business environment as well as how we work or live. The same study denotes
that these years will usher in various radical technologies, customer experiences, business
models, as well as the new breed of entrepreneurship. In other words, it will lead to a digital
native who act and think differently from every entrepreneurial generation before them.
With the different aspects of digital innovation, improvement, and performance, Shen and
Chan (2017) point out that the construction and manufacturing sectors will be the primary
determinants that will primarily drive the global economies. For instance, in adopting new
technological advancements in the above industries, new manufacturing hubs are emerging in
both developed and developing countries (Hou & Lee, 2016). As an entrepreneur, my focus will
be adopting the technological innovations in the manufacturing industry to see an improvement
in the construction growth. In adopting the technology, it will be much easy to ensure that
business innovation in the manufacturing industry expands to offer employment and quality
services for both the rural and urban population. My passion for entrepreneurship, management,

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and business innovation will hence be relevant to the development of the manufacturing industry
in the future.
In a systematic study, Faught and Long (2017) point out that with technological
advancement, business is progressing from services to products and finally to experience. As a
result, the next ten years is likely to be harder to make money in any transactional business, an
aspect that requires entrepreneurs to find a way of breaking out of it according to Gottel (2016).
However, the entrepreneurial mind suggests that future small and large scale businesses will be
more of mutual benefit in finding the right way of innovation through every experimental
manner possible. As a result, it is essential to learn from other successful entrepreneurs such as
Bill Gates, Larry Ellison, Michael Bloomberg, and Mark Zuckerberg among others. They are a
group of entrepreneurs who have proven that success is inevitable as long as one has a vision,
passionate, flexible, resilience, and have a strong sense of self towards achieving whatever goal
they desire to achieve just like them. It is my desire to have Bill Gates as my mentor, an aspect
that will require me to foster him through the process since he has seen other successful
entrepreneurs through the challenges of the business environment.

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References
Faught, S., & Long, J. (2017). Analyzing The Needs Of Rural Small Businesses And Developing
Economic Sustainability Programs For Their Management Teams. International Journal
Of The Academic Business World, 11(1), 23-30.
Gottel, V. (2016). Business Models: Origin, Development and Future Research
Perspectives. Long Range Planning, 49(1), 36-54. doi:10.1016/j.lrp.2015.04.001
Hou, W., & Lee, E. (2016). Chinese style capitalism: current development and future
implications. European Journal Of Finance, 22(5/6), 255-258.
doi:10.1080/1351847X.2016.1090051
Shen, B., & Chan, H. (2017). Forecast Information Sharing for Managing Supply Chains in the
Big Data Era: Recent Development and Future Research. Asia-Pacific Journal Of
Operational Research, 34(1), -1. doi:10.1142/S0217595917400012
Walz, K. A. (2016). Teaching-as-research internships: a model for the development of future
chemistry faculty and the improvement of teaching in science, technology, engineering,
and math. Community College Journal Of Research & Practice, 40(2), 133-145.