Managing Innovation Assessment 3 - Individual Reflections/Toolkit Contents

Managing Innovation
Assessment 3 – Individual
Reflection/Toolkit

Contents
Introduction......................................................................................................................................2
Section A.........................................................................................................................................2
Section B..........................................................................................................................................3
Section C..........................................................................................................................................5
Conclusion.......................................................................................................................................8
References......................................................................................................................................10

Introduction
Entrepreneurship is the key to a growing business sector and without it there cannot be
expansion of the business sector. Through entrepreneurship, innovation happens. It is with the
increased impetus provided to business owners that innovation has become an important
phenomenon. Here, in this research study there shall be a close understanding of the
entrepreneurs through interviews and employing innovation model. Learning must be followed
by reflection. Hence, reflection of the researcher on own entrepreneurship skill is also included
in the report. With the help of relevant literatures, different concepts of entrepreneurship and
innovation are explored in the subsequent research study.
Section A
The interview was taken on 23rd September 2019. After requesting the entrepreneur in a week
prior to 23rdSeptember, he was kind enough to let us have an hour chat with us. Jake Willis was
running a grocery chain in the country side of Port Fairy. He started off a store in the year 2012
and from then he has started to grow and the numbers of stores increased to 5. The main reason
the stores started to grow is that it does timely delivery and has home made products that are
grown and made by the local residents of Port Fairy.
This has made the people of Port Fairy have a little income of their own. There are so many
people in country side who are not willing to leave the place yet are forced to because there is
not much source of income and lack opportunities.
This did not solve the problem completely but it did help a lot in cutting the unemployment by
generating small scale home made products. The philanthropic approach to the grocery shop is
worth the credibility and interviewing a visionary entrepreneur was good choice for the research
study.
Why did you select this individual to interview?
As mentioned above, the entrepreneur Jake Willis is a philanthropic who did not only bring a
chain of grocery store in Port Fairy but also helped in generating employment in that region.

Today, he is employing 30 employees and all are adequately paid. Ethically, the company is also
abiding by all the standards of law and also having sustainable means of
So, these can be cited as the main reason behind selecting Jake Willis. Beside the grocery store
has also shown growth in number and this was only possible after the entrepreneur was able to
take the risk (Prabhu and Jain, 2015).
Risk is the most important factor that makes or breaks the business. This, combined with
decision making skill was what prompted me to have an interview with Mr Willis.
What insights did you gain from talking to them?
After a really long and thorough interview session, with a particular successful entrepreneur a
good set of knowledge can be gained. Successful entrepreneurship entails a lot of experience, a
particular set of studies need to be completed. Along with this also trainings to gain experience is
also important. An entrepreneur should make up his mind, to face challenges and not be
disheartened, even if there is no profit in the first few years of business.
The positive and competitive mind-set of the younger generation is what drives the upcoming
population to invite the courage to take really a number of risks, to set up their business. Through
formal studies about entrepreneurship, one finds it much easier to decide maybe, because they
are formally trained and are well equipped with the latest knowledge that is required to sustain in
the industry. Nowadays plenty of television shows do help to spread and upgrade the knowledge,
regarding new areas of business and also entrepreneurship.
In order to be in business, one must thoroughly know the ways and procedure to carry out
business. Prudent decision making ability, and also a good convincing strength is equally
important to nurture. Nowadays, the gender construct is an issue of not much hassle.
Also a fact that role models hardly work, when it comes to business entrepreneurship has also
been noted. Everything depends on the amount of hard work that is put in everyday to establish a
particular business. Networking is an important factor to run a business.