Entrepreneurship and Innovation: A Case Study of Kevin Green
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This report explores the entrepreneurial journey of Kevin Green, a successful landlord in the UK, and analyzes his mindset, strategies, and traits. It also examines the relation of his actions to theories of entrepreneurship and innovation.
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Contents INTRODUCTION...........................................................................................................................3 About the Entrepreneur..........................................................................................................3 Questions to be asked in the interview...................................................................................3 Ethics to be considered...........................................................................................................4 Analysis of the Data...............................................................................................................4 Relation of the content to the theory......................................................................................6 CONCLUSION................................................................................................................................7 REFERENCES................................................................................................................................8
INTRODUCTION Entrepreneurship is an ability of an individual with the help of which they develop, organise and run a business smoothly by identifying opportunities in the situations and issues. They create value for others and make their business profitable by satisfying the needs of the society(Parker, 2018). An entrepreneur has focus upon innovation with the help of which they can overcome various challenges faced by them in the business environment. To support this they recognised those paths which are either unexploited or underexploited and on the basis of these they create new ideas that enable them to offer innovative offering to the people. In this individual report an entrepreneur, Kevin Green is taken into consideration who is British biggest landlords in UK. With the help of the interview content in this report the style of entrepreneur and his traits are discussed. Apart from this the theory of opportunity, innovation and entrepreneurship are discussed in context of the content so gathered from the entrepreneur. About the Entrepreneur Kevin Green is a self made person and social entrepreneur who has been acknowledge for how he has established his profitable business. He is one of the largest landlords for residential property in UK. Kevin Green has a significant amount of experience in property investment throughout the world and is an owner of many companies which are related to non-property business. The Welsh government considers him as their Big Idea Wales role model and he inspires others from his actions and strategies of doing business also the students within the schools and universities. Before entering into the business he was a dairy farmer. In the year 1999, Kevin Green won a scholarship in agriculture and then he studied the attitude and behaviour of the high achiever. During his lifetime he has interviewed Bill Gates and Richard Branson who motivated him as perform consistent and to work hard. He has various business relations with Richard Branson as he is one of his clients(Oeij, 2017). He has a quality of “can do” due to which Kevin Green has been invited as speaker in various seminars and conferences so that he can motivate other to adopt such quality and to be successful in their career and profession. Questions to be asked in the interview How many hours do you work every day on an average basis? What motivates the most?
How did you get the idea of doing this business? What is the basic strategy that you focus upon while making the sales of the residential property? What is the mindset that makes you successful? How do you manage the funds for the business or what are the creative strategies that you adopt for managing the requirement of the funds? What do you love the most? Ethics to be considered The ethics must be considered while interviewing which has to be considered for making the interview successful and to gather responses of most of the questions that are asked. While undertaking this interview the questions that are to be asked include: Informed consent: Consent is taken properly before starting the interview and the purpose for conducting the interview must be disclosed that is a part of the course assignment. Confidentiality: All the questions that will be asked are related to the purpose of the interview that is it must involve any questions that discloses hypersensitive questions of the interviewee(Haucap and Stiebale, 2016). Voluntary participation: The participation must be voluntary without any undue influence or must not be on any grounds such as emotional. Analysis of the Data The responses of Kevin Green from the interview are analysed on the basis of which his personality, traits, attitude etc. as an entrepreneur are identified. The entrepreneur from the West Whales, Kevin Green became one of the successful landlords in UK and he believed that he is successful because of the spirit of his sister who passed away when she was 20. With the help of this interview the analysis so made for the Kevin Green are given below: Mindset for success: As per the responses of Kevin Green it was analysed that being consistency and single minded he reached to the success which he realised in the wake of his sister’s death. The book he wrote is with the aim to help others so that they can develop such a mindset that can enable them to achieve success. Another spirit that motivated him to be consistent towards his success was of a man he saw in Arizona when he was a dairy farmer. That man gave him the guidance for taking big decisions in life.
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The loss of his sister made him focussed to contribute to the society by becoming successful(Kerr, Kerr and Xu, 2017). Never waste a second: The painful moment of his life make him realised that not even a single minute must be wasted as the incident changed the outlook towards his life. He got tired of the framing activities and due to this he applied for the Nuffied Farming Scholarship in 1999-2000. There he got an opportunity to travel around the world and to interview two famous personalities Bill Gates and Richard Branson and they encouraged him a lot to be successful. Strategy used by Kevin Green:The strategy that is uses is based on the innovation such as he uses to sell the property by advertising it even before purchasing it. This enables him to analyse the reactions of the customers in context of the property that he subsequently buys. This reflects his creativity to think out of the box and to serve the customers in a better way(Mazzarol and Reboud, 2020). Visionary personality:From the response of Kevin Green it is analysed that he is a visionary person who take into consideration the strategic planning while taking any decision and looking towards any problem. He visits to the website communities.gov.uk with the help of which he could analyse the income of the people in the area where he is planning to purchase the property. On the basis of which he compares the average prices of the houses mad ensures the affordability of his property for the local people. This reflects his concern for the society and the spirit of making residential easy for all. Collaborative:Kevin Green also contributes to the society and enables other to work with him comfortably. He loves to educate others, motivate and inspire others in context of how to start their own business and how to work passionately so that success can be ensured. This ensures that while working with various trusts and other organisation he form better team and work efficiently by encouraging others(Hamm and Firmin, 2016). Typology of the Kevin Green:On the basis of the analysis of the personality, action and strategies adopted byKevin Green it is determined that he is accomplished entrepreneur who has been through different stages of entrepreneurship and of developing a successful business. such entrepreneur are focussed for scaling up their business along with providing benefits to the society by leaving a legacy that can be extended for the lifetime. They also determine the things that can facilitate other and for this they aim to be connected to the customers for solving their
problems, such as he offers residential property that can be afforded by the people by analysing their capacity to pay. This makes him concerned for the welfare of the society(Kuratko, 2016). Relation of the content to the theory With the growing level of competition in the business environment it is becoming important for the entrepreneurs to identify the opportunity and to innovate their offerings so that they can expand their market share efficiently. The theories related to the entrepreneurship are given below: Schumpeter’s Innovation theory of profit: This theory suggests that the profit can be poised by the entrepreneur by considering innovation in their business practices and processes. According to Schumpeter, the innovation facilitates the entrepreneur in reducing the cost of production as well as in increasing the demand of their product and services(Wartiovaara, Lahti and Wincent, 2019). The Kevin Green takes into consideration the innovative action of analysing the income of the people and their affordability, on the basis of which they price their property so that they can satisfy the needs of the people. The innovation in this theory is classified into two categories which is one in which the cost can be reduced while the other in which demand of the products can be enhanced. Kevin Green keeps his focus upon the investing and trading strategy with the help of which he can efficiently manage the funds as the requirement of the funds in this business is quite high. In addition to this the use of Kiyosaki Method is not adopted rather he has a goals of making payment of the mortgages within a period of 10 years so that clear and free homes can be provided to the people. With this he can borrow more funds because his creditability increases of making repayments on time. According to this theory the focus of the Kevin Green is on the either launching the new products or innovating the existing products with the application of various methods of sales and promotion so that awareness can be created. Human motivation theory: This theory was proposed by the David McClelland and in this three factors that motivate an entrepreneur must be taken into consideration which includes achievement, affiliation and power(Fry, 2018). All the factors of motivation have different impact on different people as per their personality and perception as well as their outlook towards their work. The Kevin Green is motivated by the spirit of his own and the spirit of his sister who passed away when she was 20. The loss of his sister motivated him to do something and to achieve something with which he can do good with others as she could not anything even to flight with her disease. The motivation factor enables him to drop the framing activities and to
get him enrolled for the scholarship programs from where never turned back. Kevin Green has been using his achievement in motivating others and educating others how to be successful, how to make money fast and how to become rich by developing a positive as well as consistent mindset. Diffusion of Innovation theory: Adoption of this theory enables the person in adopting different ways for doing things so that they can make satisfy the needs of the customers. The entrepreneur has been consistently focusing upon these strategies so that they can take the competitive advantages over others(Boudreaux, Nikolaev and Klein, 2019). Kevin Green has adopted various strategies such as that of analysing the reactions of the customers for the property which he has not even purchased by advertising it so that they can accordingly make their changes as per the affordability and preferences of the customers. CONCLUSION It is concluded from the above report that an entrepreneur has to take into consideration various factors while converting their ideas into reality so that they can accomplish their goals. They are motivated by the events that has taken place in their life as such incidents encouraged them to do good to others by becoming successful. The responses of the Kevin Green facilitated to understand the personality and his characteristic traits with helped him to be successful such as mindset for success, collaborative thinking, focussed upon time management etc. On the basis of these characteristics, the theories of entrepreneurship and innovation are analysed which helped him in achieving his desired goals and objectives.
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REFERENCES Books and Journal Boudreaux, C.J., Nikolaev, B.N. and Klein, P., 2019. Socio-cognitive traits and entrepreneurship: The moderating role of economic institutions.Journal of Business Venturing.34(1). pp.178-196. Fry, R., 2018.101 great answers to the toughest interview questions. Open Road Media. Hamm,J.A.andFirmin,R.L.,2016.Disorganizationandindividualpsychotherapyfor schizophrenia: a case report of metacognitive reflection and insight therapy.Journal of Contemporary Psychotherapy.46(4). pp.227-234. Haucap, J. and Stiebale, J., 2016.How mergers affect innovation: Theory and evidence from the pharmaceutical industry(No. 218). DICE Discussion Paper. Kerr, S.P., Kerr, W.R. and Xu, T., 2017.Personality traits of entrepreneurs: A review of recent literature(No. w24097). National Bureau of Economic Research. Kuratko, D.F., 2016.Entrepreneurship: Theory, process, and practice. Cengage Learning. Mazzarol,T.andReboud,S.,2020.WorkBook:TheEntrepreneur.InWorkbookfor Entrepreneurship and Innovation(pp. 9-19). Springer, Singapore. Oeij, P., Rus, D. and Pot, F.D. eds., 2017.Workplace innovation: Theory, research and practice. Springer. Parker, S.C., 2018.The economics of entrepreneurship. Cambridge University Press. Wartiovaara, M., Lahti, T. and Wincent, J., 2019. The role of inspiration in entrepreneurship: Theory and the future research agenda.Journal of Business Research.101. pp.548-554.