Entrepreneurship Interview Report: Characteristics and Implications

This report analyzes an interview with two entrepreneurs and discusses the key characteristics of entrepreneurship, including passion, risk-taking, and adaptability. The report also reflects on the relevance of the psychological theory of entrepreneurship and the importance of effective communication and leadership skills.

Interview report
entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................1
Main Body.......................................................................................................................................1
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................4

INTRODUCTION
The concept of the Entrepreneurship refers to the concept of developing and managing a
business venture with the main aim of gaining the profit by taking several risks in the corporate
world. Thus, in simple words the entrepreneurship comprises of the willingness to start a new
business. The current report consist of discussion about the analysis of the interview transcript
along with having a reflection about the key characteristics of the entrepreneurship.
Main Body
The current report is based on the analysis of the interview script for two individuals which
are entrepreneur. The first interviewee is Aliya who run a cake decorator organiser and cake
baking business. It has been analysed and observed based on the current interview transcript that
the Aliya started its current business to pursue and follow its hobby and tend to be very
passionate about the cake baking and decoration. Further, Aliya is also having a view point that
the cake bakers are tend to have a similar design and baking thus, Aliya has started its own
entrepreneurship to have and show the higher level of creativity and innovation in cake baking
with more improved decoration and cake design. Based on the study of the theories of the
entrepreneurship which comprises of five main theories consists of Economic entrepreneurship
theory, (2) Psychological entrepreneurship theory (3) Sociological entrepreneurship theory, (4)
Anthropological entrepreneurship theory and (5) Opportunity-Based entrepreneurship theory. On
the basis of the study of the Aliya interview transcript it has been observed the theory that has
been most suitable for current study is the Psychological entrepreneurship that reflects about the
behaviour and attitude of the entrepreneurship to start a new business. It has been seen and
analysed that the Psychological theories of entrepreneurship is the one that focus on the
individual and the mental or emotional elements that drive entrepreneurial individuals that
happen in current study. The Aliya is passionate about cake baking and comprises of many
factors such as Competition and Collaboration, Entrepreneur Challenges, Expectations from
Employees and Social Consciousness. Based on the current study, it has been observed that the
Aliya is having a thinking that the cake baking needed some more creativity and the decoration
also needed improvisation thus, the physiological mind set and attitude has forced the Aliya to
become an entrepreneur to continue the passion level.
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An analysis and implication about the characteristics of the entrepreneurship has been made
that comprises of passionate, confident, planners, money managers, curiosity, structured
experimentally, adaptability and risk tolerance. Based on the study of the Aliya it has been
analysed and seen that the passionate and adaptability are the main characterises that are
identified. Risk tolerance based on creativity and innovation in decoration along with curiosity
and confident are the key characteristics. It has been seen that the Aliya is having a view point
that can packing needs more creativity which reflects the curiosity and passionate level which
motivates to start and come up with a new entrepreneur where she can presents the new idea and
creativity. Further, It has been also analysed that a higher risk is being taken by Aliya as she did
not have any experience in this filed. Thus, as the main characteristics of the entrepreneurship
Aliya tend to bear a higher risk and to become successful in the plan she had also taken proper
online classes and training for making more tasty and decorated cakes.
Innovation theory is one of the many entrepreneurial theories of entrepreneurship, that
can be applied to the interview of Hayat Saab. This is because as per the theory, the major
assumptions are that the entrepreneur is born with the desire of establishing a business in the
industry and they desire to do something new (Baker and Welter, 2020). Apart from this, the
entrepreneur has an interest in creativity as well as earning experiences of skills for doing the
various tasks. In context to the respective interview which is given, it can be said that Hayat Saab
is creative and has an interest in food styling. He started his business of food styling in the year
2014 and the business is based in Sydney Australia. The business is operating as a family
business and there are various efforts that the family members make in order to enhance the
overall experience of the customers by listening to the details that they provide while placing
their order. One of the main objectives of the innovation theory is to earn profits and the
respective business is always keen on searching new methods as well as resources that can be
implemented to the business in order to improve the overall efficiency of the business. The
innovation theory of entrepreneurship states that the entrepreneur gains profits if their innovation
is successful in the market. In context to the respective interview, Hayat Saab and his family
members always try to be innovative with their service as well as the products. This is because
food styling is one type of business that requires the business owner as well the team members to
be innovative so that they are able to gain a competitive advantage in the market.
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The innovation theory states that if the innovative idea is implemented by the
entrepreneur, the overall cost of production is reduced as well as the different unnecessary
expenses are also eliminated. Apart from this, the theory also states that one of the major
functions of the entrepreneurs is to keep coming up with different types of innovations (Packard
and Burnham, 2021). This is because with the help of the same, they are able to enhance their
business operations as well as attract a greater number of customers. Hayat Saab will have to
focus on the different ways in which he as well as his family members can enhance their
business operations as well as innovate their product offerings. This will help them in gaining a
competitive advantage in the market and also, attracting a greater number of people. This will
lead to an increase in the overall profitability of the business and it will be able to generate a
greater number of revenues. Therefore, it can be said that after analyzing the interview of Hayat
Saab, these were some of the points that could be made to ensure that there is an improvement in
the business operations as well as the level of customer satisfaction to a great extent. And the
innovation theory of entrepreneurship is the most relevant of all the different theories of
entrepreneurship.
Based on the current report, a reflection can be made that the entrepreneurship needs a
higher level of curiosity and passion to start a new business operations based on the some
creative ideas. It has been also observed and learnt by me that attitude and physiological aspects
plays vital role in starting and coming up with some new ideas that is based on the psychological
theory of entrepreneurship. Further, it has been reviewed that interview is based on the
qualitative collection of the data where some questions are asked from the interviewee by the
interviewee and comprises of the direct communication to have a better underdoing about the
key facts and concepts from an individual. It has been also reviewed and learnt by me that the
Implication and use of the thematic approach is made to analysis and evaluate the interview
transcript in better information. Further, a reflection about the key characteristics of the
entrepreneurship has been also facilitated by current study which comprises of passion, curiosity
team work, risk taking and many more. Based on the study of the interview script of the Aliya it
has been observed that she is very passionate about cake baking and also get bored of similar
design of the cake. Thus, she planned to come up with a new business venture that provides a
path to follow her passion. Further, the suggestion that can be made for Aliya to have improved
success comprises of recruiting some more cook and chefs to bake a delicious cake as she was
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worried about the taste of cake which also supports expansion and improved productivity for her.
Further, on the basis of the analysis of the interview script of the Hayat Sab it has been observed
that creativity is the main characterises of every entrepreneurship that supports engaged success
and better business growth through making it superior from the other competitors. Further, it has
been also learnt by me that having great marketing skills and effective communication are also
the key entrepreneurship characteristics that needs to be present within all entrepreneurship to
support higher success. The recommendation for better results comprises of having improved
leadership skills that would support more effective communication and improved growth of a
entrepreneurship business.
CONCLUSION
On the basis of current report, a conclusion can be made that entrepreneurship comprises of
the set up a new business based on creativity and high risk taking. It has been analysed that
curiosity, passion and effective communication are the main characteristics of the
entrepreneurship. Further, it has been also summarised that leadership is also a vital skill that
supports improved entrepreneurship.
REFERENCES
Books and journal
Baker, T. and Welter, F., 2020. Contextualizing entrepreneurship theory (p. 188).
Packard, M.D. and Burnham, T.A., 2021. Do we understand each other? Toward a simulated
empathy theory for entrepreneurship. Journal of Business Venturing, 36(1), p.106076.
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Kent, C.A., Sexton, D.L. and Vesper, K.H., 1982. Encyclopedia of entrepreneurship. University
of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical
Research Reference in Entrepreneurship.
Shapero, A. and Sokol, L., 1982. The social dimensions of entrepreneurship. University of
Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical
Research Reference in Entrepreneurship.
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