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Strength and Weakness of the Simulation Game - PDF

   

Added on  2020-10-22

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ENTREPRENEURSHIP

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Assessing your potential as an entrepreneur. Do you see yourself as entrepreneur that initiatesan independent venture or more as someone that likes to be a corporate entrepreneur in anestablished company? Do you feel more comfortable in a typical function position likemarketing, finance, accounting or operations?...........................................................................1Simulation game..........................................................................................................................5Lesson learn from the simulation game......................................................................................5Roles defined in team..................................................................................................................6Is the game a close approximation of the real world situation that entrepreneurs face..............7Strength and weaknesses of the game.........................................................................................8CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................10

INTRODUCTIONEntrepreneurship is the activity that aims at setting up of business organisation and alsocontains financial risk or may lead to bring profits as well. The entrepreneurs possess need forsuccess and achievement that drives different activities within business organisation. The presentreport aims at assessing potentials of an entrepreneur and its initiatives for being a corporateentrepreneur in an established company. The report also explains detailed information regardingsimulation game and its role in functional areas of the business or firm. The strength andweakness of the simulation game are discussed further in this report. MAIN BODYAssessing your potential as an entrepreneur. Do you see yourself as entrepreneur that initiates anindependent venture or more as someone that likes to be a corporate entrepreneur in anestablished company? Do you feel more comfortable in a typical function position likemarketing, finance, accounting or operations?Entrepreneur is someone who instead of working as an employee, runs a small businessand takes risks and benefits of business on self. The entrepreneur is seen as an innovator, sourcefor new ideas, products, services, business activities, process and procedure. I see myself asentrepreneur that can initiate an independent venture. Because I feel I am having the potentialsthat an independent entrepreneur must have (Kirby, 2016). Entrepreneurship is actually a roleand responsibility that people undertake for creating an organisation and the activities ofentrepreneurial are related to leading the organisation. The person having the traits of effectiveand efficient leadership can be successful entrepreneur. A strong passion and dedication of hard-work, motivational and leadership qualities and optimistic views makes a person a successfulentrepreneur. I feel that I possess the quality of independent venture and entrepreneur because Ithrive to develop my knowledge and skills and also look for the way to develop them as this willall help in establishing the successful business organisation(Kuratko, 2016). I am not afraid totake the leap and I look up for the challenges and risk as an opportunity which will lead me tosuccess. I don't think and act with problems as others think, I look for bringing innovation andcreation in whatever I do and this is considered as the trait and quality of a successfulentrepreneur. 1

People makes complaints for number of things, and raise the questions like , “when willthis problem be solved?” or “When would someone solve or deal with this issue?” . Whereas Ifocus on resolving the problem and find solutions for the same instead of asking such things. Isearch for solutions that can make things and situation better. I aim at creating and findingsolutions for the issues encountered by others. Being in typical functioning position ofmarketing, finance, accounting or operations does not make me comfortable (The 5 PersonalityTraits All Entrepreneurs Must Have, 2019).The different typical functional positions of organisation provides set of roles andresponsibilities to individuals. For example, marketing position in an organisation provides theindividuals with roles of market research, developing marketing plan, focusing on productdevelopment, etc. (Naranjo-Valencia and et.al., 2018). The different set of responsibilities areprovided to the individuals within marketing functional position, but, still it is limited to anextent. The responsibilities also includes strategically overseeing of promotion, advertisements,distributions, customers services, supply chain management or maintaining public relations. Idon't feel comfortable in working with specific provided responsibilities or duties. But workingin a corporate environment can make smooth lows and highs, and it can also shape individualinto someone who is totally comfortable to deal with new situation and problems (7 IndicatorsOf Employee To Entrepreneur Potential, 2016). To be a successful entrepreneur, one needs tohave experience of working in an corporate environment so that he can more comfortable insetting his/her own business. Setting up of own business comes up with lots of issues andproblems that requires experience which can come from working in typical functional positionswithin an organisation. Corporate business environment provides individuals to get knowledgeabout certain corporate regimes and also learn to manage them selves and their within time-frame. The corporate environment also teaches individuals to control the results and also to avoiddysfunctions above them. And all of these potentials and experience turns employee to be ansuccessful entrepreneur (Espina, Phan and Markman, 2018). financial managers are was responsible for doing the budget planning and also providingsupport to executive management group (Kirby, 2016). The list of responsibilities also includesoffering financial advice and insights to the organisation that allow them for making the best andeffective decisions for the company that brings positive outcomes. All these roles, duties andresponsibilities within corporate business environment helped to learn many things that will help2

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