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Assignment on Significance of Strategic Entrepreneurship

   

Added on  2020-04-07

10 Pages3123 Words40 Views
Running Head: STRATEGIC ENTREPRENEURSHIP 1Strategic Entrepreneurship<Student ID><Student Name><University Name>

STRATEGIC ENTREPRENEURSHIP 2Table of ContentsFirst personal journal entry set....................................................................................................................3Third Personal Journal Entry Set.................................................................................................................5Fifth Personal Journal Entry Set..................................................................................................................6References...................................................................................................................................................7Appendix.....................................................................................................................................................9

STRATEGIC ENTREPRENEURSHIP 3First personal journal entry set The significance of entrepreneurship within the society that has traditional notions andeconomies has been increasing at a rapid rate which is defying the obsolete concepts. Thecreation of new ideas through new ventures in business or the manufacturing of new products,ideas or services into the market so as to generate more value and wealth is the most crucialfeature of entrepreneurship. It can include the launching of the new business ventures along withdeveloping the existing products. This can be made to happen at any kind of companies bothsmall and large scaled (Alvarez, Audretsch & Link, 2016). The prime motivations of theindividuals who are on the path of being entrepreneurs relate to gain on growth and profit. On theother hand, the key characteristics of behavior have been related to the strategic thinking andinnovation (Bjørnskov & Foss, 2013). When it comes to evaluating me in terms of characteristics of entrepreneurship, it is veryimportant to assess the existing and required traits in the measures of five dimensions such asachievement drive, creativity, desire for autonomy and internal locus of control. The drive forachievement is the prime and most important trait that an individual needs to posses fromgaining the interest of becoming an entrepreneur. It is a very important entrepreneurial attributewhich would denote my need to work hard for achieving success. It is very relevant in my caseof aiming to become an entrepreneur as I have high achievement drive and have the attitude ofsetting targets that are demanding for myself and encourage me to become bold and proactiveregarding the accomplishing of objectives (Burgelman, 2015). I can evaluate myself to have a strong drive for achieving and an orienting for takingimmediate accountability for the task and displaying of initiatives that are further in resonancewith the controlling and planning of events in my organization. I also happen to have the drive ofgetting regular concrete feedback regarding the level of performance of individuals workingunder me along with my performance. I very well realize the significance of creativity as vital tothe entrepreneurial concept. I happen to have a very good understanding of the fact that the sector of entrepreneurshipis primarily dominated by the innovation and creativity. In order to have an effective launch inthe market along with maintaining a high position in the market, it is very important toconstantly innovate the services or products with renovating business strategies. I realize and

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