Reflective Journal on Entrepreneurship

Running Head: REFLECTIVE JOURNAL 0
Reflective Journal on Entrepreneurship
Student Details
8/30/2019

REFLECTIVE JOURNAL 1
Contents
Introduction............................................................................................................... 3
Reflective analysis on subject Modules.............................................................................3
Module 1............................................................................................................... 3
Module 2............................................................................................................... 4
Module 3............................................................................................................... 5
Module 4............................................................................................................... 5
Module 5............................................................................................................... 6
Module 6............................................................................................................... 6
Reflection on Assignments......................................................................................... 6
Conclusion............................................................................................................. 7
Bibliography........................................................................................................... 8

REFLECTIVE JOURNAL 2
Introduction
In this reflective report, the aim is to analyze the learning outcomes of our subject Innovation,
creativity, and entrepreneurship. When I decided to pursue this program my aim was clear to learn
management skills and open different opportunities in my career. Although I personally feel that this
subject has personally helped me in growing and make decisions which can help me in becoming an
entrepreneur. In this subject the major topics covered are importance of creativity and innovation in
entrepreneurship. The major elements of the course which are importance of situational analysis as
well as financial projections is discussed in the report. The product development and entrepreneurship
process are discussed in the report to understand the in-depth working of the business plan.
Reflective analysis on subject Modules
Module 1
In the first module as to introduce the topic, the major elements discussed are fundamental
concepts that can be related to innovation, creativity, and entrepreneurship in today’s world. The aim
of this module is to understand the approach towards customer satisfaction with innovation and
creativity. It is important to note that the aim is to achieve the success of the product through
creativity in product or in process of implementation (Business wire, 2019).
Entrepreneurship can be defined as the capacity to manage a business in a way which can
incur risk but will promote profit in return. It is the opportunity beyond the resources utilized
(Knight, 2009). The entrepreneurship depends on the new idea or technology which is unique and
attractive for the customers. The process to achieve success in new business or start-up can be
categorized in four stages; the first and foremost step is conceptualization of idea, I personally feel
that the introducing an idea is easy as there are so many ways and options to achieve customer
satisfaction, but the difficult part is analyzing the authenticity of the idea. Hence creating an
admirably idea becomes the most difficult task and then come the development of the business plan to
achieve and make the idea come in life.
The company always have different ideas but are not able to introduce it due to government
policies, changing completive environment and social concerns with the introduction of the product.
In the research, I have also seen that the government assist many times by encouraging the banks to
provide loans to the new venture. The entrepreneurship need to analyze the corporate situations to
analyze and understand the corporate environment (Kemper, 2013).