Role of Entrepreneurs in Businesses

This study material discusses the role of entrepreneurs in boosting business performance. It covers common entrepreneurial traits such as vision, communicability, motivation, knowledge of processes, adaptability, and innovation. It also evaluates the impact of two entrepreneurs, Elizabeth Holmes and Dave Buttner, on organizational performance. The study material concludes with recommendations for improvements.

Running head: ROLE OF ENTREPRENEURS IN BUSINESSES
ROLE OF ENTREPRENEURS IN BUSINESSES
Name of the student
Name of the university
Author note

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ROLE OF ENTREPRENEURS IN BUSINESSES
Table of Contents
1. Introduction..................................................................................................................................2
2. Common entrepreneurial traits....................................................................................................2
2.1 Vision.....................................................................................................................................2
2.2 Communicability and conflict resolution..............................................................................3
2.3 Motivation and empowerment of the employees...................................................................3
2.4 Proper knowledge of the processes........................................................................................3
2.5 Adaptability to different situations........................................................................................4
2.6 Innovative approach of the entrepreneur...............................................................................4
3. Role of entrepreneurs in boosting the performance of the businesses.....................................5
4. Entrepreneur from Northern America - Elizabeth Holmes, CEO of Theranos...........................6
4.1 Life and works of the entrepreneur........................................................................................6
4.2 Impact of the approach on organizational performance........................................................6
5. Entrepreneur from Australia - Dave Buttner, CEO of GM Holden.............................................7
5.1 Life and works of the entrepreneur........................................................................................7
5.2 Impact of the approach on organizational performance........................................................8
6. Recommendations for improvements........................................................................................10
6.1 Long term planning..............................................................................................................10
6.2 Identifying the issues and mitigation of the same...............................................................10
6.3 Avoiding fabrication of propositions...................................................................................11
7. Conclusion.................................................................................................................................11
References......................................................................................................................................12

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1. Introduction
The role of the entrepreneurs depends on the approaches that are undertaken by the same
in order to bring forth changes in the organizational operations. The different personalities of the
entrepreneurs help in understanding the role that is played by the same in order to enhance the
operations of the businesses. The discussion will be focusing on undertaking a review of the
common entrepreneurial traits and the evaluation of the activities that are undertaken by the
same, which helps in optimizing the operation of the business. On the other hand, the research
will also focus on identifying two entrepreneurs from Australia and North America respectively
and discuss their contribution to the performance of the businesses. Lastly, the research will be
enumerating different recommended actions that might be undertaken by the entrepreneurs in
order to enhance the operations of the business.
2. Common entrepreneurial traits
The different traits in the entrepreneurs help the businesses in optimizing the operations
and thereby bringing forth modifications in the processes as per the change in the business
markets [10]. The major entrepreneurial traits are being discussed in this section of the report in
order to identify the operations that might be undertaken by the entrepreneur in order to enhance
the business position in the competitive markets.
2.1 Vision
The vision of the entrepreneur helps the organization in identifying the different
objectives for upholding the sustainable functioning of the same in the international markets. The
long term vision of the entrepreneur helps in maintaining the efficacy of the performance through

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sustainable measures [7]. On the other hand, the short term planning that is undertaken by the
entrepreneurs is based on the organizational needs of enhancing the profitability of the same.
The vision of the entrepreneur helps in inducing values and thereby designing the processes as
per the identification of the organizational sustenance.
2.2 Communicability and conflict resolution
The communicability of the entrepreneur helps the same in understanding the issues that
are faced by the employees while operating on the objectives of the business. The identification
of the issues helps the entrepreneur in mitigating conflicts in the workforce and thereby ensure
the smooth functioning of the processes [14]. The different changes that might be planned by the
entrepreneur depend on the efficacy of the communication skills of the same, which will help the
same in keeping the workforce aware of the needs of the business.
2.3 Motivation and empowerment of the employees
It has been found that motivating the employees and empowering the same through
suitable training and recognition programs will be helping the entrepreneur in facilitating the
productivity of the enterprise as per the objectives [12]. On the other hand, it has been found that
the provisions for training the employees will be helping the entrepreneur in enhancing the
operations of the business through enhancement of the skills. Motivating the employees and
thereby empowering the same will be helping the organization in enhancing the performance.
Therefore, the entrepreneur might undertake steps to a positive organizational culture through
collaborative functioning of the departments with the management [13].

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2.4 Proper knowledge of the processes
It has been found stated that knowledge on the processes that are undertaken by the
business will be helping the entrepreneur in bringing forth significant modifications in the same.
On the other hand, it has been found that suitable knowledge of the processes will be helping the
entrepreneur in understanding the issues in specific areas of the process and thereby induce the
required modification in the same [2].
2.5 Adaptability to different situations
It has been found that adaptability of the entrepreneurs helps in maintaining the efficacy
of the operations. The different circumstances and risks that are faced by the business while
operating in diverse global markets might be mitigated through the adaptable nature of the
entrepreneur[8]. The entrepreneurial adaptability will help the leader in undertakinbg operations
in the different market structures under varied economic and social circumstances. On the other
hand, it has been found that the adaptable nature of the entrepreneur will be helping the same in
handling every situation that might be faced by the organization while operating in different
competitive markets.
2.6 Innovative approach of the entrepreneur
The innovative approach of the entrepreneur helps the organization in maintaining their
sustainability while operating in diverse international markets. Innovation in the fields of
technology and design of process helps in enhancing the operations of the workforce and thereby
helps in enhancing the productivity of the venture [5]. It has been found that the development of
the organizations are dependent on the continuous support of the entrepreneur and the
upgradation of the processes of the business enterprise. Therefore, the entrepreneur undertakes
different assessments of the competitive markets and thereby initiate different changes in the

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organizational structure and processes in order to support the sustainable functioning of the
same.
3. Role of entrepreneurs in boosting the performance of the businesses
The entrepreneurs play a major role in shaping the operations of the business enterprises
[19]. The key changes that are undertaken by the entrepreneur in the business enterprises are
dependent on the identification of the needs of the enterprise and thereby allocating the resources
likely. On the other hand, the different aspects of change in the organizational operation are
based on the communicability of the leaders. The enhanced communicability of the
entrepreneurs with the workforce helps the same in inducing the values and culture of the
business in the same [16]. On the other hand, the transmission of important information to the
employees helps the entrepreneur in facilitating the smooth functioning of the processes as per
the needs of the business.
It has been found that the innovative approach and the long term vision of the
entrepreneur helps in inducing sustainability in the operation of the enterprise. On the other hand,
the assessment of the position of the organization in the respective markets helps the
entrepreneur in understanding the different changes that might be induced in the processes. The
entrepreneur also undertakes steps to empower the workforce through different reward and
recognition programs [11]. It will be helping the entrepreneur in facilitating the smooth
functioning of the organizational operations as per the needs of the same. People management
practices that are undertaken by the entrepreneur through empowering the workforce by training
will be helping the same in enhancing the performance of the business. The proper management
of the workforce will be helping the entrepreneurs in enhancing the operations of the business.

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4. Entrepreneur from Northern America - Elizabeth Holmes, CEO of Theranos
4.1 Life and works of the entrepreneur
Elizabeth Anne Holmes was the founder and former CEO of Theranos, a company that
specialized in pathological solutions to the patients through innovative blood tests. The blood test
that was undertaken by the organization was known for the little amount of blood collected
during the samples [7]. The research was made primarily through the utilization of diverse
bioscience research fields and medical practices. However, the organization faced different legal
issues relating to fabrication of the service proposition of the business. In a research, Holmes
was acclaimed to be the youngest and wealthiest female billionaire in America as her company
held the valuation of around $9 billion. Holmes was born in Washington, D.C. and attended the
St. John's School in Houston. Later she applied to Stanford University and studied chemical
engineering. The specific knowledge of the processes helped Holmes in founding the innovative
concept of using technology for collecting lesser blood samples for initiating the blood tests. The
effectiveness of the measures and her management skills has helped her in enhancing the
operations of the organization [2]. However, the legal bindings and the accusation of fraudulent
activities affected the organization.
4.2 Impact of the approach on organizational performance
Holmes performed as a self-sufficient entrepreneur while focusing on the short term
objectives of profitability through fabrication of the service propositions. It helped Holmes in
gaining a competitive advantage for Theranos. The organization aimed at proposing a procedure
of drawing lesser amount of blood in order to undertake the diagnosis. However, the processes
that were planned by Holmes affected the organizational structure. On the other hand, fabrication
of the innovative approach affected the organization and resulted to dysfunction of the same [1].

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Holmes had a clear idea of the processes that the organization might undertake in order to
enhance the operations of the same. She also understood the needs of the patients relating to the
pain that are faced by the same w3hile undertaking serried of blood tests. However, the
inappropriate design of proposition that was planned by the entrepreneur affected the business
performance. The discovery of the fraud not only disrupted the goodwill of the organization but
also resulted to dysfunction of the business systems and seizure [15]. Lack of proper decision
making and long term planning has affected the organizational capabilities of sustaining in the
competitive markets.
5. Entrepreneur from Australia - Dave Buttner, CEO of GM Holden
5.1 Life and works of the entrepreneur
Dave Buttner is a highly experienced automotive industry leader who was appointed as
the CEO of GM Holden. Dave was previously associated with the executive team of Toyota
Motor Corporation Australia. The high communicability and leadership skills of Dave has helped
in the gradual development of his career. On the other hand, the skills of a charismatic leader is
ingrained in the personality of Dave, which has helped in ye gradual development of his
managerial skills [18]. The different innovations that are made by the entrepreneurhave helped
in enhancing the operation of his former organization, Toyota. Dave was in La Trobe University
where he studied economics. The management skills of Dave and the knowledge of the
automotive industry has helped him in gaining a prestigious position in Australia. The experience
and adaptability of Dave has helped in enhancing the operations of the businesses while
operating as per the specific entrepreneurial needs [14]. Collaborative activities that are
undertaken by Dave have helped the same in enhancing the business operations through

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maximization of involvement of the employees in the enterprise processes. On the other hand,
the suitable communicability of Dave has helped in enhancing the industrial relations with the
different stakeholders and supply chain and logistics managers. The clear vision of the changes
that might be articulated and induced in the business model has helped Dave in maintaining the
spontaneous workflow in the organizations [18].
5.2 Impact of the approach on organizational performance
The performance of the organizations is based on the functions and approaches that are
considered by the entrepreneurs. Dave has an enhanced communicability, which has helped the
same in maintaining the efficacy of the operations that are undertaken by GM (General Motors).
The enhanced communication with the employees has helped Dave in understanding the
different issues that are faced by the people and thereby frame mitigation strategies [3]. On the
other hand, the enhanced communicability of Dave has helped the same in working closely with
the dealer network which assisted the business in maximizing the customer base. The
interconnectedness of the people in the organization helps in enhancing the performance relating
to productivity. On the other hand, it helps the organizational management in holding suitable
relations with the different stakeholders, which results to the smooth functioning of the
enterprise.
The influential role that is played by Dave has helped the organization in keeping the
employees motivated and focused on the different operations that are planned by the executives
[6]. The influential role has assisted Dave in empowering and motivating the workforce in order
to facilitate the smooth functioning of the business processes. On the other hand, the continuous
innovative approach that is undertaken by Dave has helped the business in supporting the
sustainability of the same while operating in competitive market situations [5]. The long-term

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vision of the entrepreneur helps the organizations in maintaining their sustainable functioning in
the competitive markets. Dave induced different activities as per the identification of the needs
of the organization. It has helped the organization in maintaining their efficacy and performance
while operating in different competitive markets [5].
The experience of the entrepreneur in the field is one of the chief factors that assists the
organization in shaping the activities. The experience of the entrepreneur helps the organization
in understanding the definite trends that are being encountered by the market. Dave is an
experienced manager who has vast knowledge of the different changes in the automotive
industry. It has helped the organization in designing the required steps in order to adhere to the
changing trends and needs of the people in the market [7]. Experienced personnel help the
organization in identifying the uncertainties that might be faced by the same whole operating in
diverse international markets. Therefore, Dave’s experience will be an asset for the concerned
organization as it will be helping the same in understanding the different risks that might be
faced by the business while operating in diverse international markets [4].
Adaptability and flexibility of operations are the two most essential qualities in an
entrepreneur, which helps the same in enhancing the operations of the business in different
market conditions. The fluctuations in the economic status of the nations have affected the
business markets. However, the adaptability of the entrepreneur helps the organization in
surviving different economic fluctuations in the different international markets. Dave’s adaptable
nature has helped the organization in undertaking different steps in order to enhance the
operations of the same. The different changes in the organizational performance are based on
strong relation with the stakeholders. In this connection, the enhanced communicability of Dave
will be helping the organization in enhancing the stakeholder relations of the business. On the

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other hand, the better communicability of Dave will also help the organization in identifying the
different issues that are faced by the organization and mitigate the same in order to undertake the
smooth functioning of the business.
6. Recommendations for improvements
The recommended actions that might be undertaken by the leaders in order to enhance
their management skills are being stated in this section of the research.
6.1 Long term planning
Long term planning of the organization will be helping the entrepreneur in maintaining
the efficacy of the operations. As per the case of Holmes, long term planning would have helped
the organization in maintaining the sustainability of the same while operating in diverse
competitive markets. The long term planning would have helped Holmes in assuming the
different uncertainty of operations. On the other hand, the long term vision would have helped
Holmes in rectifying the objective of the business and thereby bring forth significant changes in
the process designing phase.
6.2 Identifying the issues and mitigation of the same
The identification of the different issues and conflicts that are faced by the organization
in the internal and the external environments will be helping the entrepreneurs in facilitating the
sustainability of operations. Holmes could have taken steps to develop relevant assessment
methodology in order to enhance the identification of the issues that are faced by the business
and thereby mitigate the same. Mitigation of the issues help the organizations in undertaking the
smooth functioning of the processes.

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6.3 Avoiding fabrication of propositions
Proposition of fair service helps the organization in building on the loyalty and trust of
the customers on the processes of the organization. Avoiding fabrication of the proposition helps
business in building a positive brand name. Holmes could have avoided the fabrication of
deliverables of the business in order to avoid the situation of failure.
7. Conclusion
Therefore, from the above analysis it can be stated that the proficiency of the approaches
that are undertaken by the entrepreneurs helps in the smooth functioning of the businesses. The
research aimed at unraveling the leadership style of two entrepreneur and the relevant impacts of
entrepreneurship on the organizational performance.

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