(PDF) Entrepreneurship in International Business

Added on - 22 Nov 2020

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Assessment 2 :International approaches toEntrepreneurship
Table of ContentsINTRODUCTION................................................................................................................................3TASK....................................................................................................................................................31. Examine the characteristics and the role of Entrepreneurs..........................................................32. Critically evaluate how Entrepreneurs have contributed to a country of your choice.................63. Critically evaluate how the country of your choice contributes to Entrepreneurship.................74. Use at least two real world relevant examples from well-known entrepreneurs. These shouldbe used to support your points and arguments.................................................................................8CONCLUSION....................................................................................................................................9REFERENCES...................................................................................................................................11
INTRODUCTIONEntrepreneurship is an activity which is performed by an individual, so that they can operateand execute their functions in effective manner. Also this will help them in achieving their goals andobjectives, so that their organisation can grow and develop in future. Along with this, it helps anentrepreneur in implementing ample number of new and innovative ideas in their operations, so thatefficiency of organisation can get improved(Urbano and Alvarez, 2014). In simple terms,Entrepreneurship is a method, which is used by an entrepreneur, so that they can design, run andlaunch new business at market place in very effective manner. Also the person which use to thingsome idea which is unique and innovative and also use to perform them is known as entrepreneur.International entrepreneurship is a process in which an individual use to implement their unique,new and innovative ideas at global level. As this all help them in increasing their business and alsohelp them in improving their revenue and profitability. Along with this, another advantage ofinternational entrepreneurship is that it help an organisation in increasing their market share out ofthe boundaries, which help them in growing and developing their business(Al–Aali and Teece,2014). The organisation which has been chosen for completing this report is, Virgin group, which isa British organisation and is one of the biggest telecommunication organisation of the world. Usingthis, a discussion will take place on roles and characteristics of an entrepreneur and on how they useto make contribution in nation. Along with this, with the help of some examples, a study will takeplace on contribution which nation use to pose for entrepreneurship.TASK1. Examine the characteristics and the role of Entrepreneurs.Virgin group is one of the biggest telecommunication organisation of the world, which use toperform their operations and use to provide their services in different parts of the world. It wasestablished in February 1970, by Richard Branson and Nik Powell. They use to provide theirproducts and services in different industries like, telecommunication, banking, commercial spaceflights, health care, travel, books and many other. The head quarter of Virgin group is at London,England, UK(Ateljevic and Page, 2017). In this part of report, a discussion will take place oncharacterise and roles which entrepreneurs of Virgin group have, that has helped them in becomingsuccessful and also helped them in growing their businesses. Beneath are some characteristics ofentrepreneurs which are working in Virgin groups :-1.Forward looking :It is a characteristics, which is very much important for an entrepreneur,as this help them in analysing the future, so that they can make plans and strategies for this.
In this they use to anticipate change in trends which will take place in future, along withchallenges that organisation can face in few years. Doing all this will help entrepreneur ofVirgin Groups in making and designing the strategies and plans, so that they can changetheir products and services according to change that are going to took place in market. Thisall help them in making that change as opportunity that Virgin Group can change to increasetheir market share, and profitability(Wach, 2015). Also they can make plans and strategiesfor challenges that they are going to face, so that organisation can handle those challenges inappropriate manner and also reduce the affect of it.2.Hard working :This characteristics of an individual and entrepreneur help them inincreasing their efficiency and also help them in improving their performance, so that theycan give their best to organisation and also organisation can achieve their goals andobjectives in effective manner(Baptista and Leitão, 2015). Also, entrepreneur of Virgingroup have this characteristics which help them in working extremely good, so that they candesign plans and strategies which can help them in future to grow and develop theirbusinesses. For this, it is very much important for them to believe on their skills and also toassign appropriate work to their subordinates, so that they can work with their completepotential.3.Passionate :Along with hard working, it is very much important for an individual to bepassionate for their work, as this help them increasing the interest of that individual in theirwork. This all lead that individual and entrepreneur in giving their best to work and alsohelp them in working hard, so that they can get better results. Virgin group is one of thebiggest telecommunication organisation of the world, therefore for their entrepreneur it isvery much important to have such characterise, so that they can give their 100 percent toorganisation(Baum, Frese and Baron, 2014). This all help them in leading the organisationtowards success and also help them in developing themselves in different sectors and partsof world.4.Confident :Also, for an individual and entrepreneur it is very much important for them tohave confidence on themselves and on decisions taken by them. This all help them in takingsome risky decisions, so that their organisation can attain some big achievements byperforming those tasks which are out of the box. For entrepreneur of Virgin Groups, it isvery much important for them to have confidence on their teams, and subordinates, so thatthey can take decision which are very tough and also risky for organisation. As this helpthem in attaining some targets which are not very much easy to achieve and also help themin developing and growing their business at huge level.
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