Entrepreneurship Reflective Report

Running Head: Entrepreneurship Reflective Report 1
Entrepreneurship Reflective Report
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Entrepreneurship Reflective Report 2
Introduction
Entrepreneurship helps in understanding how various opportunities for innovation in
terms of new markets, services, products, raw material, and organizing of existing technologies
develop. These opportunities are created by individuals who recognize and exploit the
opportunities in distinct ways to produce a variety of effects (Little, Go, & Poon, 2017).
Baporikar and IGI Global (2017) assert that entrepreneurs need behavioral skills, technical skills,
and a personality to be effectively successful. Some of these personality traits include self-
confidence, innovative, capacity to inspire, problem-solving, creativity, proactive and others.
These individual traits should be matched with behavioral skills such as communications,
decision-making, delegation, team working and others; and technical skills such as business
planning, marketing, quality management, and others. I have expanded my knowledge in many
areas of business through my course learning and supplementary external reading. I have gained
considerably many insights and knowledge for establishing and planning a business.
From the knowledge acquired I decided to plan an entrepreneurship week event aimed at
creating enterprise awareness in various departments presenting an opportunity for students to
actively be involved in identifying and exploiting entrepreneurship opportunities. I organized a
group of five people to facilitate the events because I understood the purpose of a team working
in entrepreneurship. Running the event involved aspects such as project scheduling, surveys, and
logistics management as stated by Fransoo, Wäfler, and Wilson, (2011) . In this reflective report I
have explained objectively what happened, interpreted the events describing what I saw and
heard, my insights, and my connections with what I had learned. I have outlined how
entrepreneurial traits contribute towards successful planning, organizing and running of the

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events through knowledge and understanding of relevant entrepreneur theories. Also, I have
described what I learned and the various challenges encountered.
Planning, organizing and running the entrepreneurship week event
Entrepreneurship is the drive of all economies currently in the world. Entrepreneur’s role
is not just self-satisfaction but to contribute to the economy by innovating and implementing
which helps in solving various problems in the society. In relation to Schumpeter theory (Bloch,
2018) which defines innovation as a key feature of economic advancement and an entrepreneur
as the force involved in change I consider myself as an entrepreneur. Bloch describes an
entrepreneur as a person who recognizes an opportunity to transform by developing new
enterprises. This process involves steps such as identification of an opportunity, resolving to
proceed and gathering the necessary resources, starting a new venture, making success and
managing growth, and reaping the rewards. I believe I am innovative and I can derive solutions
through innovative ways irrespective of the risks and uncertainties as stated by (Piperopoulos,
2012).
I considered my entrepreneurship qualities to plan, organize and run an entrepreneurship
week event which contributed to positive changes to the participants and the society at large. I
have learned that working in a team is more successful because the members in it are in a
capacity to create synergy. As an entrepreneurship student, I understand that the potential of a
team is better than the collective capabilities of the individuals within it. Therefore, I involved
the group in organizing and planning the event. I felt enthusiastic and friendly being in a team.
We managed to solve the problems that were raised quite amicably. To attain positive synergy
and effective participation environment my team set some principles of ethics and behavior. We

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outlined and assigned the various task in relation to our strengths in topic areas. Also, all the
disagreements were settled and we harmoniously worked together. In this event I played the role
of a facilitator to conduct resource and knowledge sharing process. However, some members
also played the role of facilitator at distinct stages. This role enabled me to learn how to
distribute organizational knowledge to promote better performance of the team. Concurring with
the entrepreneurship theory about facilitation, learning in a team happens with the aid of a
facilitator not just by someone who gives knowledge to the team (Kuratko, 2009). I confirmed
this theory through my personal experience that personal knowledge can increase little value to
the group.
In entrepreneurship there are a number of external factors that combine with the
technical, behavior and personal skills to establish the result of an entrepreneur. One of these
external factors is opportunities in the market setting which can arise from changes or
uncertainty. According to Ofori-Dankwa and Omane-Antwi (2015) external factors are likely to
play a big role in the achievement of entrepreneurs. Certainly, this present event will not be my
final or my best however it will enable me to develop entrepreneur skills in the area. What has
been motivating me is reading books and listening to famous entrepreneurs. This really inspires
me to chase my dreams and ambitions as an entrepreneur. During the planning stage I engaged
the members in a meeting to discuss the event and know each other. In the meeting we also
discussed how we will organize and run the events where every member gave out an idea. I also
gave my plans and thoughts. After careful constructive arguments and discussion I made them
understand and agree on the topic.
Evaluation of the entrepreneur week event