Entrepreneurship and Venture Capital

Running Head: ENTERPRENEURSHIP AND VENTURE CAPITAL 0
Entrepreneurship and Venture capital
AUGUST 6, 2018

ENTERPRENEURSHIP AND VENTURE CAPITAL 1
In the organisational context, innovation can be linked to the positive outcomes, efficiency,
productivity, quality, competitiveness, and success in the long-term. Entrepreneurship and
innovation play an important role in shaping the success of an organisation. Innovation is a
specific function of entrepreneurship, in every organisation whether public, private or a sole-
proprietary business. Therefore, Entrepreneurship is a broader term, which is defined as the
capacity and willingness to establish, organize, and manage a business venture, along with
the associated risks. The essay is a reflection of the specific entrepreneurial skills, abilities
and the personality traits required to become an entrepreneur or innovator (Rampton, 2014).
Entrepreneurship goes hand in hand with innovation, so it is the ability to produce new ideas,
provide better solutions and pioneer new products. The most successful entrepreneurs are not
only hard working rather, innovative. Therefore, the role of entrepreneur or innovator is
crucial for the successful functioning of a business organisation. One of the most successful
innovative entrepreneur is “Steve Jobs, was an American business entrepreneur and co-
founder of Apple Inc. The key entrepreneurial characteristics of the innovator, Steve Jobs are
unbelievable imagination, passionate and fearless, risk-taking temperament, determined and
charismatic personality, clear vision. In addition, he was the person who strongly believed in
attaining perfection. Therefore, we can analyse the characteristics of an innovator. Innovators
are the people with an optimistic mind set, proactive, and highly persistent. Primary features
is divergent thinking, leadership skills, innate talent, they are willing to take risks in whatever
they want to achieve (Balzo, 2015).
The above discussion analyses the characteristics, skills, abilities of Steve Jobs, through
which in can assess my strengths and weaknesses. Assessment of strengths and weaknesses
will help in further making plans and strategies to be implemented in an organisational setup,
or before setting up an organisation. Accordingly, a number of strengths and limitations can

ENTERPRENEURSHIP AND VENTURE CAPITAL 2
be enlisted such as creativity and innovative thinking, discipline, and a clear vision towards
life.
These are some of my strengths that enlighten and strengthen the will to become an
entrepreneur in the future. Also, weaknesses which include ineffective time management
skills, efficiency in planning, confidence, persistency, determination, decision making skills
and the lack of adaptability to the changing environment (Your story, 2014).
Three of my personality traits or the aspects of behaviour, which embodies special
characteristics of an entrepreneur or innovator, include curiosity, intuition, and the flexibility
thinking. In order to become an innovative entrepreneur, one needs to be curious about the
happening of things and the new ideas and their implementation. Technology develops at
different rates and in different ways around the globe, therefore our curiosity in the thoughts
and actions will act as an aid in shaping career as an entrepreneur (The balance careers,
2018).
The next, aspect or personality trait which gives me an advantage is intuition, to become
future entrepreneurs. Individuals with the preference for being intuitive in nature have
significantly a broader scope than the personality traits such as sensing or judging, and the
other features, which might help me achieving goals and become innovator, are flexibility, a
positive perception towards people (Espíritu-Olmos and Sastre-Castillo, 2015).
Self-development and self-learning are the common concepts that play an important role in
the innovation and the entrepreneurship in the current scenario. Learning can be described as
a process of responding to the diverse personal demands arising from interaction between the
concept, knowledge and the actions. An individual can best develop entrepreneurial skills and
abilities by focusing on self development, and self-directed learning. Self directed learning
refers to the ability to understand and manage the learning without getting directed by others.